Few home buyers and sellers seem to really understand how real estate agents work, or how to follow protocol, who pays us and why we do the things that we do.
Not exact matches
But I would like to cover a
few points that
home buyers and home sellers should be aware of about real estate markets.
If big banks are allowed to sell or manage real estate, there will be a negative impact on communities, leaving
home buyers and sellers with
fewer choices, higher loan fees,
and reduced customer service from salespeople who don't follow NAR's strict Code of Ethics.
That may lead
buyers and sellers to erroneous conclusions about a
home's value, the prevalence of distressed sales, or the costs involved in a transaction, to name a
few things.
The use of
seller financing — in which the
seller agrees to take a promissory note from the
buyers for the purchase of the
sellers»
home — has dropped because
fewer sellers can finance the sale of their current
home and buy another, says Mark Steele, president of Howard Hanna Mortgage Services in Pittsburgh.
Thus,
buyers who've discovered mold problems in their
homes have been forced to seek other avenues of recovery, including lenders,
sellers,
and, in a
few cases, real estate professionals.
«In this case, the HSA
Home Warranty saved the client $ 800,
and the furnace was fixed a
few hours later,» Hutton recalls, «saving the
seller money, making the
buyer comfortable that a needed repair was made before their closing,
and helping overcome a challenge in the transaction.»
Selling a
home can be a daunting undertaking,
and while you may be helpless to control the state of the market or the number of prospective
buyers in your price range, here are a
few ways to be proactive against some of
sellers» most common pitfalls:
As a bonus,
Buyers get to experience a temporary «softening» of the market, which means
fewer Buyers to compete with because of the excess supply of
homes,
and also to negotiate with very motivated
Sellers.
It seems like a simple process — just put your house on the market, show it to a
few buyers,
and make the sale — but as many
sellers find out, selling a
home can be a difficult, expensive
and long process.
Because you know the
seller is broke
and will not be paying to repair any discovered issues with the property, so you cross your fingers
and say a
few prayers that the condition of this outdated, twenty - year - old
home doesn't require any repairs that will freak out the
buyer or, worst case, eliminate it from surviving the appraisal
and underwriting.
In the current excellent
home sales market, in most cities
few sellers tell their agents, «I want to carry back a first or second mortgage to help my
buyer purchase my
home and to obtain an excellent mortgage investment for myself.»
Alabama is one of the
few Caveat Emptor states in the United States
and the burden is generally on
home buyers to inspect
and find any problems in a
home prior to purchasing the
home and a
home seller is under no obligation to affirmatively disclose any defect or problem with a
home unless the defect is «latent».
It seems like a simple prospect — just put your house on the market, show it to a
few buyers,
and make the sale — but as many
sellers find out, selling a
home can be a difficult, expensive
and long prospect.
Here are a
few tips from Cortland County Board of Realtors ® to help
home buyers and sellers recognize
and avoid real estate scams:
Buying any
home or condo in Florida, or any piece of residential real estate, means that the
buyer and the
seller must go through the «closing process,» which may be the only time, or one of the
few times, that they have to go to a real estate closing.
In an environment where one may have only a
few days to decide to make an offer on a
home, it's critical that
buyers and sellers enter the market prepared
and with clear eyes,
and to resist the temptation to settle for a
home that may not suit their needs in the interest of just buying a place.
Buyers likely will face
fewer homes with multiple bidders
and may find they have more negotiating power with
sellers.
An offer to provide a
home inspector for free within a
few days of signing the listing agreement so that the
sellers can identify possible sticking points for
buyers and repair any problems before the
buyers bring in their own inspectors.
For
homes over $ 600,000, there are
fewer buyers and sellers, possibly because some are waiting to see what happens with the election.
If the supply of
homes for sale is greater than demand, the market will put pressure on prices to fall until supply
and demand come into as because
buyers take advantage of bargains
and fewer sellers list their
homes Home will take longer to sell.
A lot
fewer people are out shopping for
homes which means you have less competition from other
buyers and generally stronger negotiating leverage with
sellers.
Real estate contracts typically give
buyers a
few days to have the
home inspected for problems
and provide some sort of remedy, whether it's voiding the contract or asking the
seller to fix items, if they don't like what they find.
But, «a mediocre offer is better than no offer,» he said,
and for some
sellers, particularly of higher - priced
homes with
fewer potential
buyers or
homes that have been languishing on the market, a sell contingency might make sense.
Limited Dual Agency: You, Your
Seller and the Unrepresented
Buyer Here is a scenario that may present itself to trading services licensees: You are the listing agent helping a couple sell their
home,
and over the past
few weeks you've developed a good working relationship with them.
Fewer home sellers and buyers are opting to navigate their home sale or purchase on their own, according to the National Association of REALTORS ®» 2015 Profile of Home Buyers and Sellers rep
home sellers and buyers are opting to navigate their home sale or purchase on their own, according to the National Association of REALTORS ®» 2015 Profile of Home Buyers and Sellers
sellers and buyers are opting to navigate their home sale or purchase on their own, according to the National Association of REALTORS ®» 2015 Profile of Home Buyers and Sellers r
buyers are opting to navigate their
home sale or purchase on their own, according to the National Association of REALTORS ®» 2015 Profile of Home Buyers and Sellers rep
home sale or purchase on their own, according to the National Association of REALTORS ®» 2015 Profile of
Home Buyers and Sellers rep
Home Buyers and Sellers r
Buyers and Sellers Sellers report.
To prepare for a showing, a smart
seller spends time clearing up clutter
and making the
home shine, then grabs the kids
and / or pets
and vacates for a
few hours so
buyers can tour in peace.
«In this market, where
homes are selling quickly
and buyers are competing for so
few listings, a
buyer's
and seller's best ally is a REALTOR ® — a real estate professional who can offer the best advice for navigating the market.
With a
few taps on a smartphone,
home buyers and sellers now can find information that once required digging through musky deed books at the county recorder's office.