contract: When Not to Accept Highest Bid on Your Home
- 10/11/23 06:54 AM
Your house is on the market and there is a shortage of housing. As a seller, when this happens it appears that you are on the winning side and should receive multiple offers. At the same time, you should watch for red flags that may be present when a buyer makes an offer. Many times, sellers think higher offers are always more appealing, and in a market where multiple offers are frequent, this creates an environment where missteps may occur. Sometimes sellers are willing to accept a lower offer because they feel there may be less headaches and a greater chance (5 comments)
contract: What to Fix from Home Inspection?
- 01/05/22 06:44 AM
After home inspection, settling on what needs to be repair usually is the last major hurdle for the transaction. Bypassing a home inspection not recommended in most situations. This is the best time prior to closing to discover flaws in the property that could become expensive to correct after becoming the owner the property. Sometimes buyers are uncertain how to move forward on home repair request. This is the time real estate professionals can be helpful by advising their client what should be fixed. Sellers will not fix and should not fix everything that is on the inspection report. Cosmetic issues (1 comments)
contract: Parents Buying Houses in College Towns
- 09/28/21 11:35 AM
Parents of many colleges’ students have realized this is a great time to purchase investment property. Advantages include cutting housing college cost, some expenses are tax deductible, college student can learn how to become manager, and an investment that will appreciate. By purchasing a home for the college student, they can rent out additional rooms to other students, therefore making their board and room less expensive versus what the college would charge. In this instance, a student who needs a student loan probably will not need to finance their living. As a parent they can have the student to be the (1 comments)
contract: Homeowners Biggest Remodeling Mistakes
- 04/01/20 06:20 AM
One of the biggest undertaking homeowners do is remodel their home. When planning the project, they need to do detail planning to lower their chances of having regrets after completing the project. Some homeowners fail in this regard. This can lead to regrets later which can be defined as blunders that were preventable. Following is a discussion concerning regrets: Budgeting – Underestimating the cost to do the project can be a serious misstate. This can prevent homeowners completing the project, incur a financial loss, or lead to future financial problems. It is important to have detail construction plans in order to (0 comments)
contract: Explanation of Home Closing Costs
- 02/06/20 06:35 AM
When buying or selling your home all buyers and sellers incur closing cost associated with the transaction. Normally, closing cost (need to include commission and if 5% down payment) are about 8% to 12% of the property purchase price depending on the type of transaction, other than full cash transaction which may be less. Shortly after signing a contract between a buyer and seller of property, many lenders are willing to provide a good faith estimate of proceeds involved in the transaction. Your real estate agent should be making that request for their client. The final closing disclosure of cost should (1 comments)
contract: How to Move-up or Move-down
- 07/08/14 12:22 AM
Today, many people are thinking about making a move-up or move-down depending on their situation. For instance, younger families are growing, therefore, they need more room while older couples have seen their children leave the nest are desiring to have a smaller home with less maintenance. Most homeowners when selling and buying would prefer to make it happen at the same time because this would reduce your moving expense and hassle. Making this happen may be tricky process but it is doable. Following are several ways you may be able to accomplish buying and selling your current home with one move: (0 comments)
contract: Real Estate Kick-Out Clause
- 10/12/12 01:08 AM
Whenever a buyer or seller is purchasing or selling a house they need to understand how the Kick-Out Clause works from real estate contract viewpoint. Generally speaking there are 3 times when this Clause is used within a real estate transaction: · Contract is contingent upon the buyer selling their home before purchasing their new home. · Contract is contingent upon specific event occurring before the buyer can close on their new home. Many times this occurs when the buyer has his home under contract with a third party and the buyer’s current home must close with the third party prior to (2 comments)
contract: Understanding a Home Offer
- 02/28/12 11:38 PM
Prior to receiving an offer for your property, it is good idea to become familiar with a sales contract. This will give the seller a head start on understanding what they might receive in an offer. Initially, the seller is most interested in the sales price, but the seller needs to give serious consideration to the other terms within the offer. It is possible the seller may receive a full price offer, but net $15,000 or more under the asking price. Following is a suggested way to break down an offer on your property: · Purchase price - The sales price (2 comments)
contract: Suggestions to Making a Successful Move
- 11/17/11 02:07 AM
After you have made a successful offer and prior to closing on your new home can be a stressful time trying to prepare for the physical move. Following are some helpful tips for your move: Build in moving time in your contract: This normally is easy to accomplish if moving from leased property provided you plan in advance. Your purchase contract needs to be written in such a manner that allows sufficient time for the move. When moving from a non-leased property to another home can be more difficult to coordinate because there may be circumstances with other homeowners that are out (1 comments)
contract: Keys to Negotiating Lower Home Price
- 11/09/11 07:56 AM
Naturally, as a buyer you want to negotiate the lowest price for your new home. This process is complex and every transaction has some unique qualities. In this process, there normally are some give and take with both the buyer and seller with neither party getting everything they want. As a buyer, how do I develop a strong bargaining position that will benefit me the most in the transaction? Based on experience there are some keys that will help you win at the negotiating table: Financing: First, get pre-approved with a lender and demonstrate your flexibility to close quickly per the (1 comments)