Sharon Simmons' Blog
Contingencies on a contract to buy a home are there to protect both the buyer and the seller. The contingencies give the buyer the right to back out of the contract if any of these contingencies aren’t met. There are many reasons that buyers back out of deals including financial issues and problems with the home. Below, you’ll find a break down of some of the most common contingencies and what they mean for you as a buyer or a seller.
Most home contracts come with what’s called a financing contingency. This gives you the ability to walk away from a deal if the financing falls through when trying to buy a home. Usually this is due to a credit reason or some other financial reason. You can’t rely on financial cracks to help you to back out of a deal on a home. Lenders will only deny a loan for real financial reasons. There’s no way to ask a lender to lie for you so you can get out of buying a home! This is why you need to make your decision about a home purchase wisely.
This gives the buyer the right to have an inspection on the home within a certain time frame which is usually 5-7 days. If something is really off with the inspection that you as a buyer don’t feel comfortable with, you have the right to back out of a deal without repercussions. While seller disclosures are important, the seller can’t disclose what they don’t know about. That’s why the home inspection is so important. The seller’s disclosure cannot protect you from hidden damages that may cost half of a home’s worth to repair.
If homes are selling fast and you want some secure way to back out of a deal you should consider an appraisal contingency. If the home you want to purchase doesn’t appraise at a price high enough to meet your mortgage requirements, you have a legal way to back out of the deal. For example, if you put down 20 percent of the purchase price of a home and the home doesn't appraise for the value of that purchase price, you’d need to come up with the remainder of the money in cash. An appraisal contingency protects you from having to face this. You’ll still need to have a home inspection done on the home to search for any problems, but an appraisal contingency protects you from any problems with financing and your own disposable amount of cash that could arise due to a home appraising low.
While contingencies aren’t necessary as a homebuyer, they’re highly recommended. Without contingencies, you could be left with a number of expenses such as damages that are extremely costly to fix.
Staging is a marketing tool, not an exercise in decorating for living comfort. Professional real estate stagers should be a member of your team when you want to sell your home quickly and for top dollar.
Even if you have a go-getter real estate agent and your home is in a great neighborhood, consider staging as a way to enhance value and prompt an acceptable offer in the least amount of time. Your stager will target the "right" buyer, based on price, features and demographics, to achieve results.
Planting a "Buy Idea"
Contrary to the popular notion of staging, it does not involve an effort to "sell," but rather encourages the buyer to envision living in a particular home. Savvy buyers will already have determined that a specific property is within their budget, that it has the right number of bedrooms and bathrooms, and that the location is a desirable option. Staging will reinforce the notion that the "good life" can become reality in that house.
Focusing on "Best" Features
A professional stager will not attempt to highlight every feature of the home. The purpose is to provide a prospective buyer with a memorable impression that distinguishes a particular property from all others. Your stager will discuss with you the best ways to create a lasting impression, but be prepared to remove overly personal accessories for the duration of the home's time on the market.
No home is perfect. Whether it's a matter of perception or personal preference, most houses have at least one space that can seem difficult. A professional stager might disguise a perceived fault, or may suggest a remedy. Common requests include repainting a room, clearing kitchen and bath clutter, or pulling weeds and placing pots full of colorful flowers near the front door to boost curb appeal.
Maximizing Existing Space
Your stager might want to remove or rearrange furniture, or ask you to pack up and store out-of-season clothing, books, sports equipment and toys. Understand that once the home sells, you will have to begin packing anyway, and spacious interiors are a selling tool. Let prospective buyers get a sense of possibilities as they walk through your home!
Assuming that your home is clean, well-maintained and reasonably priced, professional staging is the best way to provoke the emotional reaction that will prompt a prospective buyer to submit an offer. Staged homes typically sell faster and at higher prices than comparable unstaged property. The higher selling price will undoubtedly pay the fee!
A real estate agent for a seller, often referred to as a seller's agent, performs many functions, including helping you organize your house for sale, set the right price, determine a selling strategy, and negotiate with buyers. This article covers the roles and responsibilities of a seller's agent and what qualities to look for, so you will know how to select the right real estate agent to sell your home.
What is the Sellers' Agent?
A seller's agent represents the seller during the course of selling their property. Seller's agent is the same as a listing agent, and both terms can be used interchangeably.
When you are selling your house, the first meeting that you have with a real estate agent is usually known as a listing consultation. During the consultative session, your agent will look at your property and learn more about your aims for selling. They will discuss your home's selling features with you, and suggest improvements that could lift your price.
They will also do a comparative market analysis (CMA), which looks at comparable homes that have sold nearby, to help figure out what your home is worth in the current market and recommend a price to you. A good seller's agent should also bring a marketing strategy to help you realize that price.
Roles of a Listing Agent in Selling a Home
1. Prepare Your Home to Sell
A listing agent with lots of experience will know how to maximize your property value so you can receive top cash for your home. They will be able to figure out which updates you should make to your home to increase its selling price. They will also be able to suggest service providers such as an inspector, handyman, painter, landscaper, stager, etc., who will provide great value and high quality at a reasonable price.
2. Stage Your Home to Sell
Preparing your home is an art. Staging is different from decorating and requires the attention of a professional, especially if you want to make the most out of your sale price. They understand that proper preparation prevents poor performance. Your agent will help you stage your home so that it makes the best first impression among potential buyers. A well-staged home can wow buyers from the time they look at the listing photos, to the moment they walk in the door.
3. Hire An Expert Listing Photographer
An expert real estate agent will assist you in organizing professional photographers, or may even have one as part of the service. Once the home is prepared and staged, it will be ready for a photo shoot. The photographer will also perform a 3D scan of your house so that buyers can view it from every angle online. Many buyers who are not resident in the state or the country would want to have a 3D Walk-through of your house before they spend their time and money to tour it in-person.
These are essential roles real estate agents perform for the seller during the sale of a property. So when you are hiring an agent, don't be afraid to tap into their expertise and learn as much as you can from them.
You might believe that your house is real estate market-ready. However, if you fail to allocate the necessary time and resources to boost your house's curb appeal, you may miss out on opportunities to showcase the true beauty of your residence to potential buyers.
Fortunately, there are many proven ways to enhance your house's curb appeal, and these include:
1. Perform Home Exterior Maintenance
Consider the homebuyer's perspective as you assess your residence's exterior – you'll be glad you did. Because if you approach your residence like a homebuyer would, you may be able to identify "hidden" problem areas faster than ever before.
For example, if you notice damaged home siding or a messy front lawn, you should perform assorted home exterior maintenance and repairs. This will enable you to eliminate any home exterior eyesores before you list your residence.
2. Conduct a Property Inspection
If you want to go above and beyond the call of duty to assess your home exterior, you should conduct a property inspection. That way, you can work with a house expert to detect and resolve any home exterior issues.
During a property inspection, a home expert will evaluate your residence both inside and out. Then, the home expert will provide a report that outlines his or her inspection findings.
Review the results of a property inspection closely. The inspection report likely will contain valuable insights that you can use to prioritize myriad home exterior upgrades. And if you complete these upgrades, you may be able to transform an ordinary home exterior into a stunning one.
3. Consult with a Real Estate Agent
The real estate market can be difficult to navigate, particularly for a seller who wants to improve a house's exterior as quickly as possible. Luckily, real estate agents are available in cities and towns nationwide, and these housing market professionals can make it simple to find ways to enhance your residence's exterior.
A real estate agent is happy to provide recommendations about how you can upgrade your residence's exterior without breaking your budget. Thus, this housing market professional can help you get the best possible results from any home exterior improvement projects.
Of course, let's not forget about the assistance that a real estate agent can provide throughout the home selling journey, either.
A real estate agent will help you list your residence and promote it to potential buyers. He or she will even review offers on your house and negotiate with a buyer's agent on your behalf. With all of this support, a real estate agent will make it easy for you to maximize your home sale earnings.
If you're unsure about how to improve your home's curb appeal or perform various home selling tasks, you should hire a real estate agent. By employing a top-notch real estate agent, you can speed up the home selling process and increase the likelihood of a profitable home sale.
Do you know how to get your house ready for the real estate market? If not, you may miss out on opportunities to showcase your home to the right buyers. Perhaps even worse, you may struggle to maximize your home sale earnings.
When it comes to selling your house, it usually helps to plan ahead. Fortunately, we're here to help you do just that.
Now, let's take a look at three tips to help you get your house ready to sell.
1. Clean As Much As Possible
Let's face it – a messy kitchen, bathroom or bedroom is an eyesore. And if you fail to clean your house prior to listing it, you risk alienating buyers time and time again.
Cleaning is a necessity for home sellers, regardless of a house's age or condition. If you allocate time and resources to ensure each room in your home looks pristine, you can increase the likelihood that your residence will make a positive first impression on buyers.
Mopping the floors, wiping down walls and taking a room-by-room approach to home cleaning generally is recommended. In addition, if you need extra assistance, you can always hire a professional home cleaning company.
2. Perform Home Exterior Maintenance
Although you may spend a lot of time cleaning your house's interior, you shouldn't forget about your home's exterior as well.
Ultimately, how your home's exterior looks may dictate how quickly your residence sells. If your house boasts a beautiful front lawn and immaculate exterior, a buyer may fall in love with your home instantly. Conversely, if your home's front lawn is uncut and your house's siding is damaged, your residence is unlikely to impress potential buyers.
When it comes to home exterior maintenance, it helps to do as much as you can. Trim the front lawn, repair damaged home siding and perform assorted home exterior maintenance. By doing so, you can immediately bolster your house's curb appeal.
3. Remove Clutter
Over the years, you may have collected a lot of items. But these items may make your house appear smaller than it actually is – something that all home sellers should try to avoid.
If you have a large collection of clutter, you may want to consider selling or donating various items. Or, you can always rent a storage unit for assorted belongings and move these items to your new residence after your current house sells.
Clearly, there are many ways to prepare your house for the real estate market. If you want to ensure the best-possible results from the home selling journey, you may want to reach out to a real estate agent too. This housing market professional can guide you along the home selling journey and ensure you can get the support you need to achieve your desired goals.
Start getting your house ready to sell – use the aforementioned tips, and you can quickly and effortlessly enhance your residence before you list it.