Twenty years ago it was not uncommon for a seller to accept an offer that had a contingency based upon the buyer selling his current home. That type of contingency is making its way back into the market.
August 20, 2010
July 20, 2010
Advantages Of Seller Financing
REALTOR®Mag has an article about the financial advantages of seller financing. In addition to the financial advantages, there are other points the seller ought to consider in addition to those in the article.
- Be sure to investigate the buyer’s credit, income history and debt.
- Use a licensed real estate broker to offer guidance and help.
- Financing is very difficult to obtain in this market so you will have an advantage over other sellers not offering seller financing.
- Be certain you can get by without the cash you would have from an outright sale.
Resource: REALTOR®Mag
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July 2, 2010
Lease Option Can Help Sell Your HOme
If you are a seller having a difficult time finding a buyer, June Fletcher of The Wall Street Journal has a possible solution.
Resource: REALTOR®Mag & The Wall Street Journal
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June 24, 2010
A Reminder About Seller Disclosures
REALTOR®Mag published an article on the 23rd reminding us that a seller’s disclosure is important and eringr on the side of disclosing too much is preferred.
A buyer will most likely obtain an inspection that will reveal defects. So it is best to disclose every material fact of which you are aware. This will enhance your credibility in the eyes of the buyer.
In today’s market, more escrows are falling out than what we saw three or four years ago. If a buyer obtains a home inspection and shares it with the seller, and then the escrow falls out, the seller is now aware of all the defects uncovered by the home inspector. Be prepared to redo your seller disclosure to pick up items you failed to disclose the first time around.
Resource: REALTOR®Mag
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May 18, 2010
Pre-listing Inspections
REALTOR®mag has an article about pre-listing inspections. Some agents may ask for a seller to obtain a pre-listing inspection so hidden defects do not crop up later when a buyer goes into escrow and has an inspection. The down side is that if a hidden defect is discovered in the pre-listing inspection the defect then becomes known and has to be disclosed with a possible impact on listing price. As a seller, what do you think is best? Wait until you are in escrow or get all the facts up front?
Resource: REALTOR.org
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April 23, 2010
Common Sense Rules When Showing Your Home
Common sense rules (but worth the reminder) when your home is being shown. And don’t forget the trick with beer.
Resource: REALTOR.org
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April 14, 2010
The Right Aroma Helps Sell Your Home
A pleasant aroma in a house being shown, we know, is a plus. One of the best aromas is that of baking bread but as a seller it is difficult to constantly be baking bread. Here is a tip… put a pan of beer in the oven at a low temperature. The yeast in the beer will create the same aroma as baking bread and is a lot easier.
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January 22, 2010
Those Little White Lies
The real estate industry calls it ‘puffing” or the practice of exaggeration.
In today’s market (many homes on the market with few buyers) sellers want to promote their property to their best advantage in hopes to better their “competition.” Some typical statements could include;
- “Taxes are really low.” Don’t forget taxes are a public record available to anyone who wants to search. What is low to you could be quite high to someone else.
- “We had no major repairs.” If you filed a claim on your insurance, a company named Choice Point gathers that information and provides it in a report available to the buyer. So if a storm took off part of your roof, the buyer will know.
Don’t get caught in the “little white lies.”
Don Grafues
Resource: realtor.org
Resource: realtor.org
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January 7, 2010
When To Sell?
General wisdom has been that if you were to sell, the best time to list your home is March/April looking for a sale in June-August. Historically more home sales close in the summer months as it is less disruptive to families with school age children.
Some now suggest that is about to change and the best time to put your home on the market is now. Why?
There are a few reasons.
- The home buyer tax credit, as it now stands, applies to buyers closing on their purchase by April 30, 2010.
- Interest rates are starting to inch upward with forecasts of 6 percent by year end. See our post “Interest Rates Climbing?”
- Other sellers will realize they need to move earlier than normal so listing now can get you ahead of the competition.
Don Grafues
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November 15, 2009
RESPA
On November 11 we published an article titled "New Good Faith Estimate Appearing." Our good friend Julie Ekstrom of Coachella Valley Escrow recently published a post on her blog about the Real Estate Settlement and Procedures Act (RESPA) that is a natural tie-in to our post and worth a read. You can find her post here.
Don Grafues
Resource: Julie Ekstrom, Coachella Valley Escrow
Resource: Julie Ekstrom, Coachella Valley Escrow
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