The average person moves once every 7 years. A lot of changes in the real estate buying and selling process might have happened. Your personal transaction history may be different than from what I see day in and day out practicing. Things that might have been the common place when you last bought moved may not be the common place like today, such as doing a dye test to evaluate the septic system and have their building inspector perform a complete well-recovery test. These days, buyers hire a licensed septic company to evaluate the septic system, open up and the tank & check the fields and run water tin the house to see how it works. Inspectors do a general evaluation of the well, and if they identify any possible issues, they recommend buyers hire a well specialist.
I am not aware of any banks that issue bridge loans for buyers that need to purchase a new home before their previous home is sold. It is also common practice that buyers which need to sell their current home to in order to purchase a new home don't make offers on their new home until their current home has an accepted offer. I've even heard old stories of real estate agents pre-qualifying buyers for mortgages and performing their own building inspections on condos. Good luck with that happening these days for liability.
So what does exactly happen this time when you move? Each purchase and sale is different. Each home has its own set for challenges & positive features.That's what makes life interesting. There is a buyer and a seller. Each of them typically has their own real estate agent and attorney representing them. Negotiations are handled in several different ways, depending on the situation & the market. A large Internet marketing plan brings buyers to the door, and they already know a lot about the house before they even walk in the front door. It is commonplace to have all offers presented in writing, with a copy of a deposit check & mortgage pre-approval letter. You might not even meet the buyer or seller at all. Let's talk about your move and how the home sale & buying process works today in the Greater Danbury and Candlewood Lake region. Please contact me for your free confidential no obligation consultation.
Comments(0)