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Protecting Yourself from Bad Buyers

by Karen Picarello

Selling your home is a life changing process. Depending on how smoothly and quickly the sale goes down, you may have to adjust major parts of your life plans. But even if you do everything right, problems can still emerge. Thankfully, there are precautions you can take to make sure that an untrustworthy buyer doesn’t cause you problems.

If you are preparing to sell a property, the first thing that you need is experience. Most people do not sell homes frequently, and will therefore be unaware of the potential pitfalls, let alone how to negotiate them efficiently. First, and experienced, trustworthy, and qualified agent will be your best asset in making sure that things go smoothly. Proper knowledge of things like which papers will be needed at what time, and how to negotiate a deal will improve your chances that things go well. Additionally, they will have seen many of the unsavory tactics used by some buyers, and will know how to protect you.

However, there are other professionals whose services will prevent you from being taken advantage of. Both the buyer and the seller can benefit from having a reputable home inspector come and evaluate the condition of the property. If you know what you are selling and how much its worth, you will be able to take the good deals, but decline those which aren’t offering you what it is worth. Additionally, legal and financial experts will give you the guidance necessary to make sure that your next purchase goes through smoothly. For example, imagine if a buyer made an offer, and you made plans based on the assumption that the offer would go through. Then at the last minute, they back out. What do you do? If you have experienced professionals on your side, they can help you understand when it will be safe for you to count on the buyer making the purchase. This way, you can get papers signed which guarantee the sale will go through ( allowing you to move forward with peace of mind), while also making sure that you have sufficient time to find a new place to live.

In the end, experience is the best teacher, but when it comes to home sales, most people only get a few chances their entire life. In this case, it is usually better to leave it to a professional who has conducted hundreds of sales, and who really knows what they are doing.

Summertime Sales

by Karen Picarello

Selling your home can be a difficult process, but one way you can eke out an advantage is by being mindful of what will be on the minds of prospective buyers. One thing that you want is for people to be able to visualize themselves living comfortably on the property. If you can make them imagine living here happily and comfortably, you have a great path towards getting an offer on the property.

One way to make visitors comfortable is to keep in mind current conditions while selling. For example, if the house is being shown in the winter, make sure that it will be a comfortably warm temperature when visitors arrive. Make sure that they will be able to enter comfortably, and will not feel exposed to the elements. Conversely, make sure that during the summer months you can allow guests to feel relief when entering the property. This can require some planning or financial investment. If you are not currently living on the property, you might need to make sure that heating or cooling are turned on far enough in advance of the showing that temperatures will be comfortable.

Similarly, if your heating/cooling systems are ineffective or in need of repair, this can be one of the most effective repairs you can make. Don’t be afraid of spending some cash here, you will almost certainly make it back in terms of convenience, speed of sale, and final value of the property.

Additionally, you can make plans to highlight the seasonal benefits of the home. Shade, pools, and good insulation will be important in the summer, but a skilled agent will be able to look at nearly any property and figure out how to show off the strengths of the property. This is similar to how a good agent will be able to personalize their description of the property based on what the potential buyer will be interested in. Adjusting the way a property is presented can help to subtly influence the mood of a buyer, and you would be remiss to not consider the effect of things like weather and seasonal differences.

Finally, you should be considering things like the calendar year. For example, if a potential buyer has children, they will likely be on a time crunch to finalize their purchase of a property so that their children can start the school year off in their new school.

Reliable Foundations

by Karen Picarello

If you are buying or selling a house that could have foundation issues, you might need to take some extra steps to ensure that you are not being taken advantage of.  If you are selling a property with foundation issues, know that you will not be able to hide these from a prospective buyer, nor should you. A good home inspector will spend a good deal of time making sure that the foundation of your home is in good condition. Failing to disclose could lead to a deal falling apart. Additionally, even if you do manage to conceal the damage, if it later becomes evident that you were duplicitous during the sale, you could end up financially liable or at the receiving end of a nasty law suit.

Depending on the extent of damage to the foundation you could be looking at a relatively small bill of a few thousand dollars, or a massive bill approaching the value of the home. One of the most important factors will be the cause of the damage done to the foundation. If it has been caused by something like drainage issues then you can likely address the problem relatively easily. However, there are soil or geological issues, then you could unfortunately end up in a situation where the entire property loses its value.

If you are looking to purchase a property and you discover that it has foundation issues, keep in mind that your loan may need to be reevaluated. Some lenders, particularly those which are through the government will be reluctant or unwilling to finance the purchase of a property with major structural damage. Make sure that your home inspector does full diligence on his investigation, and that if any foundation problems are discovered, you do the research on them. If there are small issues, it might be possible for you to go through with the sale. However, if you discover that there are major structural issues with the house, it may just be best to let it go.

Finally, there are some mitigating circumstances where the foundation may not be a huge deal. For example, property with a large amount of value in the land will be less affected by the foundation issues. Because so much of the value is in the land rather than the house, the property may be worth investing in, with the goal of rebuilding a better structure with appropriate compensation for any underlying geological issues.

Displaying blog entries 1-3 of 3

Contact Information

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TeamPicarello
RE/MAX Fine Properties North Scottsdale
21000 N. Pima Road, Suite 100
Scottsdale AZ 85255
Office: (480)860-8733
888-548-8713
Fax: (480)860-8755