What does 'Sale Pending' Mean and Should I Still Make An Offer?
Sometimes, when you are house hunting, you discover the perfect home only to be dismayed when you find out there is a sale pending on the home. Hope is not always lost, and in some cases you can still get a contract on the home of your dreams.
Meaning of 'Sale Pending'?
A house with a pending sale basically means that there is a contract to buy that property and it is close to settlement. However,there are still things which may go wrong and cause the cancellation of the contract, such as the buyers changing their minds,job loss of the mortgagee, rejection of a mortgage loan and contract contingencies which fall through.
What Are the Reasons a House Sale Falls...
There is plenty of advice that people can receive about buying and selling real estate. However, not all the advice is true. The fact of the matter is that people can lose money and time due to information that is inaccurate. After talking to our Sarasota Realtors®, we've highlighted five myths in real estate to be aware of. Debunking these myths can help potential homebuyers sell their property.
1. Myth: Potential homebuyers can paint over colors they do not like within a home.
Reality: Homebuyers do not want to take the time to paint walls even though they can. One of the best ways to enhance the look of an interior is to paint walls a neutral color. Such a color can help a home look fantastic when people are looking at photographs on the Internet. The...
Whether you're buying your first home or you're already experienced buying homes in the real estate realm, the process of purchasing a home can be complicated. One of the most challenging factors is the many home-buying myths that are often repeated by well-meaning friends and relatives. Read on to get the real facts behind five myths about the home-buying process. Having the right information can not only save your sanity as you enter into this process, it can also potentially save you thousands of dollars.
1. A Bigger Down Payment Is Better
After the housing bubble burst in 2007, the zero down loan programs that were once common all but disappeared. Since then, popular wisdom suggests you shouldn't buy a home unless you have...
Selling a home is one of life's biggest decisions. When you're balancing the sale of your current home with the purchase of a new one, you might find yourself a bit overwhelmed. Follow these tips to get your home ready to sell.
1. Find out your home's value
Most homeowners have a relatively good idea of their home’s value. They get fliers in the mail, look at nearby homes for sale online, or even go to open houses. When it comes time to sell however, you need a firm idea of your home’s “market” value. Market value is what a buyer is willing to pay on the open market. Having a reputable local agent from William Raveis Real Estate assess your home is the first step toward getting a realistic idea of your home’s...
Before you even start looking for a home, it’s important to get your finances in order. Buying a home is going to be one of the largest financial investments you’ll ever make, after all! Not only will this financially prepare you for homeownership, but it can speed up the entire home buying process, and let sellers know that you're a serious prospective buyer.
Step 1: Follow a Budget
If you don’t already have one, we highly recommend setting and following a budget. You can create a simple spreadsheet, or choose from one of many free templates available online. Not only does this allow you to assess your current financial situation,...
Before you list your home, take the time to do these 7 home improvements
There are many home improvements that you can do yourself, avoiding the high expense of hiring a contractor. Here are some great tips to increase the chances of your home selling fast.
1. Give your home a Deep Cleaning
A home that is not clean is frowned upon by buyers. Dust furniture, wash windows, clean and vacuum floors, and if need be, shampoo carpeting arriving at the property. The kitchen must be spotless. Make sure the tile and grout has been thoroughly cleaned in the Kitchen and baths
Buyers want to picture themselves in the home. It should present a spacious and non- personal appearance. Create 3 piles of items (Donate, Throw, or Keep). Consider storing large...
Choosing to sell your home is one of the biggest decisions you will make. Whether you are selling your starter home and moving up, or selling your dream home to downsize, how quickly you sell your home depends on several variables. Consider the tips below when you list your home, and you may be packing boxes sooner than you think.
The Right Price
The first and perhaps most important aspect of selling your home is to price it right. Conduct your own research to find out how much comparable homes cost and have sold for in your neighborhood. These homes are called 'comps', and they will provide the best guidelines for pricing. When you consider the comps, try to think from the perspective of the buyer,...
Buying a home is one of the most important financial decisions in anyone’s life. Perhaps you are getting ready to start a family. Perhaps you are upgrading from your first home. Or perhaps you just want to make an investment. Whatever circumstances surround your purchase of a property, there are crucial steps to be followed to ensure you get the place that that suits your style, budget, and needs. Making certain that you do everything correctly can make the whole process much less of a hassle. Have a look at the seven steps to buying a home:
1. Figure out your finances
This is a vital first step. You must determine how much house you can afford. Get an idea of what kind of down payment you can make. Keep in mind that it is highly advised to pay 20 percent up-front for a home in order to avoid private mortgage insurance (PMI).Be sure to keep...
Once you decide to sell your house, invest a little time and money in a quick makeover. Here's a list of easy and inexpensive do-it-yourself improvements that will make your home more attractive to buyers. Each of these quick fixes makes the house look less like your old, lived-in domicile and more like a new house waiting for a new owner.
1. Clean the House Top to Bottom
A new house is spotless; an old house is full of the dirt, smudges and scuffs that lived-in homes accumulate. No one wants to inherit a record of your kids' heights, even if the wall they're marked on is in the closet. Wipe them away. Sweep away the spider webs, wash the windows inside and out, clean every surface and pay special attention to corners. Your house will look...
Transaction costs are a fact of life in the real estate world. You cannot buy or sell a home in Sarasota without associated costs, from underwriting fees to appraisal charges. When you sell your property, you may concentrate on the equity value alone, rather than the costs that are eating away at your equity. By looking at the entire transaction process amounts, selling your home should be a careful consideration of all costs.
The 5% Myth
Real estate professionals, from the agent to the lender, typically quote the 5% to 6% transaction fee amount to each seller. However, this vague quote has underlying issues. In reality, the REALTOR® takes in a full 5% to 6% for their commission alone. This percentage doesn't take into consideration any of the other associated fees. When any real estate professional quotes...