Whether you’re just starting your home search or applying for a loan, nothing happens quickly in real estate. Everything takes time. Here are a few tips to help you manage those pesky real estate timelines.
Whether you’re about to put your house on the market or responding to a list of repairs from a potential buyer, you should always-always-always get multiple estimates on repairs. You get what you pay for when it comes to repair work but some companies charge way more than they should while doing way less. And not every handy man with a tool box is qualified to make all repairs. Here are a few tips on getting the best value for your buck.
When you’re getting your house ready to go on the market don’t forget to clean out the garage. Or as I like to call it, “your in-home storage unit”. You should declutter your garage just like the rest of the house. Buyers want to see a clean garage where all their stuff will go, not all your stuff that’s stuffed in there. Here are a few tips on how to return your garage to its original purpose: to house your automobile (which is probably full of stuff).
You hear the ads all the time. “We’ll make you an instant offer on your house! If we can’t sell your house we’ll buy it! We’ll make you an offer on the spot!” As you would expect, these offers might be too good to be true.
I hear it all the time. “Tim, you have to find us the perfect house!” The truth is, there’s no such thing as the perfect house. Sure, a house might seem perfect at the moment, but within a few weeks or months the warts will begin to show. Perfection is temporary. And just a point of view. Rather than focusing on the perfect house, focus on finding the “nearly perfect” home that suits your needs now.
Even Zillow says their popular Zestimate feature is a ballpark guess at best and doesn’t reflect the true value of a home. Still, everyday I hear someone who takes the Zestimate as gospel… Poor misguided foolz…
Most sellers are unrealistic about the true market value of their home. Most buyers are unrealistic about how much home they can actually afford. Until both sides bring their expectations down to earth, it’s impossible to do a deal.
Lots of deals are torpedoed by inspections that reveal problems with the house. Buyers want everything fixed, no matter how minor. Sellers don’t want to spend a dime on a house they’re leaving behind. What’s the solution? I’m a big believer in heading off trouble before it begins.
Some people think inspectors appraise property and appraisers inspect property. Nothing could be further from the truth. Appraisers work for the buyer’s lender to come up with an appraised value of a property to make sure the lender isn’t lending more than the property is worth. Inspectors inspect properties looking for defects that the seller will ultimately have to pay for. Neither works on behalf of the seller, which is why so many deals go down the drain after a bad inspection or low appraisal.