When speaking with a seller about a pre-listing home inspection, many times you get push-back: “Why,” they ask, “doesn’t the buyer pay for it?” Yes, the buyer does pay for the home inspection after their offer is accepted. However, by then, it may be too late. When problems with the home remain unknown until the buyer’s inspection, it puts the seller at risk of losing the sale or having to accept a much lower price.
Whether it is a new or older home, having a pre-home inspection should be a MUST, not a maybe. Does this mean the seller has to fix everything found on the inspection report? No, it only puts the seller in the position of choosing those items they are willing to fix, or not fix; the seller may choose to credit the buyer some repairs at closing as part of the negotiation. The main goal of the pre-listing home inspection is for the seller to be aware of the actual state of the home, and not get caught by surprise.
Here are four inspection items that could potentially put your sale at risk.
Halloween is right around the corner and ghoulish conversations regarding real estate are bound to come up. Here are some common questions and helpful advice for dealing with Haunted Houses and the like.
Did you hear what happened?
A real estate agent was telling us the shocking story that happened after a closing. Finally, following months of searching, his buyer fell in love with a home, placed an offer, and the condo closed with no problem. Shortly after closing, keys in hand, the new owner stopped by to take measurements for her new furniture, which was expected to arrive in a few days. As she was walking out, a neighbor showed up and said, “Are you sure you want to move in? The previous owner slit her throat in the bathroom and bled to death.” The new owner freaked out and called her agent right away. The agent said he was aware that the previous owner had died. No details were asked beyond that as there appeared to be no cause for concern. However, now the new owner feels very uncomfortable moving in and places the property back on the market that week with the same agent.
This once-hot property that sold in less than 30 days, now sat without any offers. Why? Every time an agent brought a buyer, the neighbor stopped by and told them what happened. The potential buyers got spooked and ran. This home sat vacant and lonely until finally someone said yes….a year later. Continue reading
One of the many skills real estate agents bring to the table is the ability to see a home through the eyes of a buyer. When you take a listing and tour the home with the seller, many times they are enthusiastic about the upgrades and beauty of their home and are completely unaware about how some things spell ‘no way’ to a potential buyer. It is with great tact that we can show them step-by-step those areas that can potentially result in more money in their pocket at closing and a quicker sale.
Here are 6 recommendations, which apply to both, a highly competitive and a slow market.