Rosemarie Morello's Blog
After you accept an offer to purchase your house, a buyer and his or her real estate agent likely will want to conduct a property inspection. Although the mere thought of a home inspection may cause a property seller to stress, it is important to understand the importance of an inspection for both sellers and buyers.
Now, let's take a look at three things that every seller needs to know about home inspections.
1. A home inspection offers valuable insights for both a seller and buyer.
During a home inspection, a buyer, his or her real estate agent and a house inspector will examine a residence both inside and out. The inspection allows a buyer to take a close look at a residence and identify any underlying issues with a house before finalizing a home purchase.
Meanwhile, a seller may learn about assorted home problems following an inspection as well. And if a home has various problems, a seller may need to correct these issues to fulfill a buyer's requests.
2. A home inspection won't necessarily slow down or stop a house sale.
Typically, a home inspection is performed after a seller accepts a buyer's offer to purchase. At this point, a buyer wants to ensure a home matches or exceeds his or her expectations. With an inspection, a buyer can learn about all aspects of a residence and proceed accordingly.
If problems are discovered during a home inspection, there is no need for a seller to worry. Oftentimes, a buyer will request a seller fix any problems with a home, or he or she may ask for a price reduction. As a seller, you may be able to negotiate with a buyer to find common ground relative to the costs of myriad home repairs too.
3. A home inspection generally does not take long to complete.
In many instances, a home inspection takes just hours to complete, and a buyer will receive a house inspection report within a few days of the evaluation. After a buyer reviews the home inspection report results, he or she can choose to move forward with a home purchase. Or, a buyer can rescind his or her offer to purchase or request home repairs or a reduced purchase price.
A seller will find out how a buyer wants to proceed within days of a home inspection. If a buyer and seller can come to terms after an inspection, both parties can proceed with a home transaction. On the other hand, if a buyer and seller cannot reach an agreement following an inspection, both parties can reenter the housing market.
Lastly, when it comes to selling a home, it often helps to hire an expert real estate agent. This housing market professional can teach a seller about home inspections, as well as what to expect at each stage of the property selling journey. That way, a seller can prepare for any potential home selling hurdles and take the necessary steps to overcome such problems before they get out of hand.
Sometimes, being in the hunt for a home feels like being in a race you can’t win. You should craft an offer that they cant refuse in order to get ahead on the house hunt. The real estate market can be hot or cold. No matter what the market is like, having a solid offer can be very beneficial to you as a buyer. Here’s some tips for you to get the offer you make accepted:
When you get preapproved, you’re showing the seller that you’re a serious buyer. Being preapproved gives you a shorter closing time and helps you to clear any financing hurdles before you get to them.
Avoid Lowball Offers
Make sure that you check out the prices of other homes in the neighborhood. Your real estate agent can help you to do this research. Often, you’ll need to offer the asking price or above if it’s a seller’s market. If all the research leads you to offer somewhere in the neighborhood of the asking price for a home, you’ll want to abide with that.
Too Many Contingencies Turn A Seller Off
The financing contingency is the agreement that is put forth to help a buyer get out of the deal if financing falls through. You’ll need to be sure that you actually have the cash on hand to help you if the appraisal falls short, however. While this isn’t recommended, it can give you a leg up in the buying process if you know what you’re doing.
Another thing that you might consider is waiving the inspection. This does however, remove the ability to be sure that a home is in livable condition. This is another way to give yourself an advantage in the home search process, but it’s not recommended. A better way to keep the inspection and streamline the process is to shorten the inspection time by having the inspector ready to go immediately.
Add A Clause To Increase Your Amount
You are able to add an escalation clause into a deal. This will automatically increase your deal by a predetermined amount if the seller gets more than one offer on the home. There’s a cap on these deals, so it doesn’t work like an auction. It’s a good option and it causes sellers to have to disclose the competing offers. Typically, this wouldn’t be the case. The only way you’d be out of the deal is if other offers exceed your cap.
Be Smart With Negotiations
You can offer to pay closing costs and home warranties instead of the seller having to pay them. Costs associated with the closing can be extensive, so offering to pay these fees can be very appealing to the seller.
It’s difficult for sellers to part with the home that they love. If you get a bit personal and write a letter or send a video message to the sellers, you may often appeal to them on another level. In the letter, you may want to address how well the sellers have taken care of the home and express your desire to continue your life in the home in the same fashion. Many times, this is really a great way to connect with your seller and give you a better chance of getting your offer accepted.
Buying a new home is a commitment. Not just to a mortgage but to the house itself, the neighborhood and your local community. And for many, this is part of what makes purchasing a new home so rewarding. To have a place to truly settle into and call their own. Part of that settling in includes crafting a timeless interior that will welcome you home for years to come.
But going about creating a timeless home can feel intimidating. Magazines and television shows focus on the trends and how to keep up with what’s current. Following these cues will only leave you with a home that will become quickly outdated.
The key is to mix a variety of styles both old and new. Resist settling for one particular style for a home that seamlessly transcends the decades to come. And while you don’t want to fully jump into any one trend, adding a few accent pieces will keep your home fresh and modern. Art, throw pillows, and small details are the perfect decor pieces to take advantage of trends with. Large investment pieces, however, are best kept neutral and in a style that has already proven itself to be classic.
Styles that earn the title of classic are usually simple with just one element that reflects the era of its inspiration. Think a couch with tufting but in a warm beige or a table with ornate millwork that boasts its natural wood coloring. Whereas a tufted couch in a print or ornate millwork painted a color from a trend that has come and gone will date the look of your whole room.
Neutral colors are best used for the majority of your color palette, leaving color for your accent pieces. That doesn’t mean your home needs to lack depth, however. Choose different tones for your paint swatches and reach for a variety of textures when adding fabrics. Having a diverse range of tones and textures will add visual interest without depending on color to do the job.
Natural elements such as wood, stone, and glass also help to bring depth to your neutral color palette and maintain a timeless look. Wood flooring is well worth the cost in the long run both in terms of maintenance and style. An exposed brick wall makes a statement without becoming dated. A leather couch or armchair adds warmth and sophistication. While cotton, linen and wool textiles add natural texture to your furnishings.
Homebuyers often dream about the decades to come spent in their new home’s rooms. They want to spend time living life’s moments to the fullest and not fussing over decor every ten years. Creating a timeless look for your home doesn’t have to be difficult or expensive. Keeping to a neutral color palette and natural elements guarantee a classic home that you will love coming home to for years to come.