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Posted by Maryann Clancy on 3/20/2020

Selling a home takes patience. Especially when youíre balancing your time between settling into your new home, and keeping up with your work and family life. So, when youíve finally gotten to the point of accepting an offer on your home, youíll probably breathe a sigh of relief--and you should!  However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.

Contingencies on the purchase contract

A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.

There are three main contingencies that will likely be included in the purchase contract before closing--inspection, financing, and appraisal.

Inspection contingency

The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.

Financing contingency

Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.

This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they arenít penalized.

Appraisal contingency

The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.

If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.

Walkthrough and closing

Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasnít drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.

Now youíre ready to close on your home sale. Youíll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.

While the closing process does include several steps, itís important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.





Posted by Maryann Clancy on 1/24/2020


 Photo by RawPixel via Pixabay

It may be tempting to call an expert (and sometimes, you can't avoid doing so) to fix something or to enhance the decor of your home, but some projects are surprisingly easy to do. Tackling DIY projects at home has never been easier, thanks to the availability of tools and products designed just for homeowners. You won't have to pay contractor's rates -- and can have a custom look you'll love -- when you try one or more of these projects. 

Upgrade your Shower: Get an immediate boost to your shower when you swap out the old shower head for something new. Removing the old head and adding a fancy new one -- whether you want something adjustable or a spa-worthy rain shower. You won't need many tools and can remove the old head, clean things up, then add the new one in about an hour. You'll love the satisfaction that comes from doing this yourself, and be able to buy a more expensive shower head without blowing your budget, too. 

Paint a Room: Leave the cathedral ceilings and complicated spaces to a pro, but if you just need a quick color change in a bedroom, you can generally DIY it for about a quarter of the cost of hiring someone to do it. Expect to spend several hours over the course of the weekend and invest the savings into quality equipment and paint you'll never have to touch up or worry about. 

Prepare the Garden: Shoveling out a 10x10 space sounds less than appealing to most of us, but you can rent a tiller from a local home improvement store and DIY this space in under an hour. You'll be able to focus instead on the planning and planting -- not the grueling digging -- when you take this approach. If you can push a lawnmower, you can use a tiller to prepare any area for planting in a hurry. 

Assemble Furniture: You can hire someone to do it, or pay a fee for the store to assemble things, but if you have some spare time and a few tools, most items can go together very swiftly. Use the time to binge watch a new program and DIY the assembly. You'll save money and get the satisfaction that comes from knowing you can do things yourself. 

Powerwash: There are many powerwasher brands on the market today that offer a lot of cleaning for a small price. A contractor could charge you hundreds of dollars each time you need the service, or you can spend about a hundred one time and get a unit of your own. These smaller, more compact models still pack plenty of punch and can be used for decks, porches, patios and on your home itself with ease. 

Simple projects like these build your skills and your inventory of supplies and tools. If you have a project in mind that can be safely done, it is worth exploring your DIY options -- you could end up leanring something new and creating a finished look you'll love. 

 




Categories: Uncategorized  


Posted by Maryann Clancy on 1/10/2020

Image by Chris Goodwin from Pexels

Your luxury home is a major investment, so it’s important to make sure that you’re approaching the selling process the right way. Selling a luxury home comes with certain challenges that you’re less likely to encounter with a non-luxury home. Luxury homes aren’t as numerous overall, so you’ll have to work harder to attract more buyers. According to the National Association of Realtors, only 13 percent of first-time and repeat home buyers purchased homes costing $500,000 or more, and only 9 percent purchased homes measuring 3,501 square feet or more. Keep the following tips on selling luxury homes in mind before putting yours on the market.

Get the Pricing Right

Determining the right price for a luxury home can be a challenge. You might not have other comparable homes nearby to help you figure out your listing price, or your home might have special features that could make it worth more. Asking for too much for your luxury home could mean that it ends up staying on the market longer than you expected, especially since the number of buyers for these homes overall tends to be smaller. Asking too little means you’re missing out on getting what your luxury home is worth. 

Think Twice About Open Houses

Open houses are a common part of the marketing process for non-luxury homes. However, you might not want to have them for you luxury home. Anyone can attend open houses, which means you’re likely to have people stop by who have no intention of making an offer on your home. In addition to wasting your time, these open houses could also make it easy for criminals to target your home. Instead of open houses, consider arranging private showings for buyers who have a genuine interest in purchasing your home and the financial ability to do so.

Use High-Quality Photos and Videos

When marketing your luxury home, make sure you use high-end cameras for photos and videos. The quality of these can have a huge impact on how successful your online and offline marketing efforts are. High-quality photos and videos are an important part of attracting buyers and making an initial favorable impression on them.

Find an Experienced Real Estate Agent

When you work with a real estate agent to sell your home, make sure that you find one who has experience in the luxury market. Selling luxury homes involves taking different factors into consideration compared to selling non-luxury homes. A real estate agent without this experience might have a more difficult time selling your home or overlook important ways to attract the right buyer. Real estate agents with in-depth knowledge of how to sell luxury homes provide you with valuable help when your home is on the market, including helping you determine the right price for it.





Posted by Maryann Clancy on 12/20/2019

Although you might have a home selling timeline in place, there may be instances where changes to your plan are required. These include:

1. You are listing your home in a buyer's market.

If you add your house to a buyer's market, you likely will face lots of competition from rival home sellers. As such, it may be difficult to enjoy a fast, profitable home selling experience if you fail to promote your residence accordingly.

To succeed in a buyer's market, you'll need to be patient. But if you can find ways to differentiate your house from the competition, you could maximize your home sale earnings.

Oftentimes, it helps to revamp a house's curb appeal. By mowing the front lawn and performing various home exterior improvements, you can help your house make a positive first impression on potential buyers.

You also should spend some time removing clutter from inside your house. That way, you can make it easy for buyers to envision what life may be like if they purchase your home.

2. You are struggling to stir up interest in your house.

After you add your house to the real estate market, it may be several weeks or months before a buyer submits an offer to purchase your residence. And if you're committed to optimizing the value of your house, it is important to wait for the right offer before you finalize your house sale.

If your home initially fails to stir up interest among buyers, there is no need to worry. In fact, there are many things that you can do to ensure your house hits the mark with buyers.

Generally, it is a good idea to establish an aggressive initial home asking price. This price should account for your house's condition, age and the current state of the real estate market.

It typically is beneficial to consider the homebuyer's perspective as well. Because if you understand why a buyer may be interested in your house, you could discover ways to help you house stand out in a competitive real estate market.

3. You have yet to hire a real estate agent.

Finding a real estate agent who can help you sell your house is key. Yet if you fail to employ an expert real estate agent right away, it may be difficult to enjoy a quick, seamless home selling experience.

Real estate agents are available in cities and towns nationwide, and these housing market professionals are happy to assist you in any way possible. If you need a real estate agent who can help you list your house and promote it to dozens of potential buyers, you should have no trouble finding an agent who matches or surpasses your expectations. Or, if you want to find a real estate agent who can offer tips throughout the home selling journey, you can choose from many potential candidates in your area.

Remember, be flexible as you proceed along the home selling journey, and you can increase the likelihood of achieving the best-possible results.




Categories: Uncategorized  


Posted by Maryann Clancy on 11/29/2019

Selling a home may seem exceedingly difficult, particularly for those who are adding a residence to the housing market for the first time. Fortunately, there are many quick, easy ways to streamline the home selling process.

Now, let's take a look at three tips that you can use to become an expert home seller.

1. Examine Housing Market Trends

The current state of the real estate market may play an important role in your ability to maximize the value of your residence.

For example, a buyer's market may feature a shortage of property buyers. When this happens, home sellers may compete against one another for property buyers' attention more than ever before, leading to below-average home prices.

It is essential to consider how a seller's market works too.

In a seller's market, there is a shortage of home sellers. This means you may be in a great position to optimize the value of your residence, particularly if you have maintained a high-quality property. In fact, you may wind up receiving multiple offers on your home as soon as it reaches a seller's market.

To find out whether you're operating in a buyer's or seller's market, you'll need to study the real estate sector closely.

Look at the prices of recently sold homes and find out how long these properties were available before they were purchased. Also, you should check out the prices of comparable homes that are currently available to find out how your house stacks up against the competition.

2. Consider the Homebuyer's Perspective

How will a homebuyer feel when he or she sees your residence for the first time? Ultimately, the first impression may dictate whether a homebuyer moves forward with your home or decides to pursue other properties.

Allocate plenty of time and resources to enhance your home's curb appeal Ė you'll be glad you did. Completing home maintenance tasks like mowing the lawn and clearing exterior walkways may help your house stand out in a competitive real estate landscape.

Don't forget to declutter your home's interior as well. By doing so, you can make it simple for homebuyers to imagine what life would be like if they purchase your house.

3. Consult with a Real Estate Agent

Becoming an expert home seller rarely, if ever, happens overnight. Instead, you may need additional help along the way.

Lucky for you, real estate agents are available to teach you about the intricacies of selling a home.

A real estate agent is happy to respond to your home selling concerns and queries at any time. He or she can offer guidance throughout the home selling journey and ensure you can get the best results possible.

When it comes to selling your home, it is important to do everything you can to optimize the value of your property. And with extra support from a real estate agent, you should have no trouble stirring up plenty of interest in your residence.

Use these tips, and you can become an expert home seller in no time at all.




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