“It’s December, time to sell the house!” Says no one ever. But, those people are missing out. Because December IS a great time to sell your house.
In a hot market, some real estate companies are arming their agents with what is called an “escalation clause” to use when presenting an offer to a seller. In short, an escalation clause says that said buyer will pay, for instance $1,000 over the highest offer. Sometimes with a cap, sometimes not. A cap would be something like “$1,000 over the highest offer up to $200,000” for instance. And they are using these to try to win a bidding war. Sounds like a great way for a buyer to win the house they want and the seller to make more money, right? Well, on the surface that might be true, but a deeper examination of them makes them not sound so great. Let’s take a look.
When it comes to selling your house, there are many boxes to check along the contract timeline as you work towards the closing date. Of them, a few of the most important to the seller are the inspections, appraisals, and closing date, as those have the greatest impact on the transaction. Today, I am going to go over a little bit about the appraisal, and the five things sellers need to know regarding them.
Buying a home is likely the single biggest purchase anyone will make in their lifetime. So when it comes time to purchase a house for yourself, you need to find a good real estate agent to help you navigate the purchase. Here are a few “did you know’s” that answer some questions you may not have even known you had. But they are good to know as you start in your process.
Did you know, selling your house to a buyer using a government loan program, such as the popular VA and FHA loans, as well as the lesser known USDA loan is different than selling to a cash or convention loan buyer? Those loans have certain appraisal requirements the property MUST meet before the loan can close. Unlike cash or convention loans which do not have such requirements.
The Stale Donut –or how pricing your house too high in the beginning can cost you big money in the end.
hat does a donut have to do with selling your house? Honestly, nothing. But everyone loves donuts, and can relate to having had a stale one, so I am using it.
Selling your house is a big step in your life, physically, emotionally, and financially. While all of these are important aspects to selling, the one most people focus the most on is the money. Which certainly makes sense as it is likely your biggest asset. But, to realize the greatest return on this asset, does require some effort on the seller’s part. Even in a seller’s market.
“How much should we list the house for?” If I had a nickel for every time I have been asked that question…
Ask any real estate agent how they feel about Radon testing and mitigation and they will tell you it depends on who they are representing. If they are the listing agent, it is not something to be worried about and just another way for the buyer to take away from the net proceeds from the seller. A buyer’s agent will tell you that Radon is the 2nd leading cause of Lung Cancer and the house isn’t safe if the Radon levels are too high. So who is right? Actually…they both are somewhat correct. Let’s take a closer look.
hen I am not working, one thing I like to do is golf. Unfortunately, the time to do so is few and far between with work and family responsibilities. So it is extra nice when I am able to get out and hit that little white ball around a little bit. The other day, I was able to kick out of work early and hit the course with a friend. Not long into the round, he said to me, “You are in real estate, what is it with these home warranties every buyer is asking for the seller to provide? Are they a scam?”