I found this blog and thought it contained some pertinent information concerning the sale of ones home. Some good tips and advice from a fellow Realtor.
Sellers have just as much anxiety over the selling process as buyers do getting their financing and purchasing.
Sellers do not understand that a purchase agreement is not a guarantee their home is sold. You can outline the selling and buying process yet the reality is never as real until the jolt caused by a lost sale.
Sales can fall apart because of inspections. The inspection can expose problems in electrical, plumbing or structure. The required repairs to correct the problem or problems could mean a sale or loss of sale.
This happens when one side or both won't do the completed repairs or compromise. The required repairs are just that required to meet the purchase agreement. On the other hand if the buyer loves the property and home...the buyer might allow some of the repairs to slide "if" these repairs are not life threatening. This means it is not a something like a furnace, carbon monoxide or plumbing, or structural.
Lenders will require certain repairs if the loan is FHA. A conventional loan is less demanding when it comes to required repairs. Conventional loans are more about what a buyer requires than lender requirements.
The financial requirements for buyers today are stricter than ever before. This means as a seller be prepared to meet the repair requirements. Know in advance what if repairs will be required and the estimates to complete these repairs.
This will help you in your negotiations and keep your sale from falling apart. Use professionals to point out the expected repairs. I find that most sellers already know what needs to be done before I mention a word.
Knowing what is coming can greatly reduce the anxiety of selling.
For Personal Service, Call: 616-784-2360 Email: GaryWhite@FlexitRealty.com
Gary L. White, Associate Broker
CRS, GRI, ABR, ePRO, AHS, SFR