In This Issue
Home Inspection Common Home Selling Mistakes Mix It Up
We are pleased to present you with the latest issue of Life@Home. Delivered to home buyers, sellers and owners on a monthly basis, this electronic newsletter is designed to give you the real estate information that is important to you. In each issue, you will find practical tips and articles related to buying, selling or owning a home, as well as the latest news on real estate trends. We hope that you enjoy this issue of Life@Home. If we can be of any assistance, please do not hesitate to contact us.
Home Inspection
A home inspection is typically part and parcel of any real estate transaction. A seller may obtain one to identify the home's strengths and weaknesses; information that can be used to craft marketing and pricing strategies. On the other hand, a buyer would likely have a contingency that says if the home inspection reveals significant defects, he is not bound to his original offer.
In either instance, the seller should make certain preparations so that the property is ready for inspection. First, the home should be clean and tidy. You know what they say about first impressions. And although the inspector will consider a myriad of factors, it doesn't hurt to start on a good note by presenting a well-kept home. Also, the buyer may accompany the home inspector. You especially want the buyer to see a clean and presentable property.
If you have pets, particularly a dog, make arrangements for him or her to come with you while the inspection is being conducted. You do not want the pet to be a distraction or a nuisance.
Next, provide easy access to all rooms including the garage, basement, attic and crawl spaces. All doors should be unlocked or keys should be provided. Withholding access can delay the final report or worse, make it look like your trying to hide something.
In order to check the working order of the home's systems and appliances, the inspector will need to have gas, electric, water and other utilities on.
In the days leading up to the inspection, take some time to pull together relevant paperwork and information. This may include a roster or repairs made on the home, receipts for appliances, and invoices for remodeling or renovations. For example, if you recently replaced the roof, the buyer and inspector will want more than your word. an invoice for the job will show when the work was completed and provide some idea about he quality of the materials used.
Common Home Selling Mistakes
There is an art and a science to selling a home. So if you've never done it before, there is a pretty good chance you'll make a few mistakes. Here are three common missteps.
1. Pricing the home: Of course you want capitalize on your investment and turn a profit, but setting the price too high can be a crucial error.
By the end of the summer the thought of eating another hamburger or hotdog isn't too appealing. But this is prime grilling season. Instead try cooking on skewers. The preparation is easy and the presentation is beautiful. Marinate Chicken, beef or veggies, skewer and grill. Serve with rice or potatoes. Yum!2. Being Inflexible:Some sellers say they positively won't sell for less than "X." But in the long run, is a few thousand dollars worth losing a buyer over? The accommodating seller has a better chance of seeing a deal through to closing. This can also mean being flexible on things like timing, closing dates and other negotiating points.
3. Sidestepping the Prep Work: No home is ready for show right off the bat. Some time and money should be put into getting the property ready for sale. Repairs need to be made. Carpets need to be cleaned. Rooms need painting. Rushing the home to market can cost you in the end.
One of the best ways to avoid these pitfalls is to hire the right seller's agent. A real estate professional has the expertise you need to dodge these selling blunders. Advice on market trends, negotiating tactics and staging the home, are just a few of the insights a Realtor has to offer.
