In a hot market, houses are often selling for more than the asking price. Often, sellers will receive offers above their asking price. However, is the highest offer the best? Not always. Most buyers need a mortgage to purchase a house, which will most likely require an appraisal. As a seller, you should know if …
Having a good understanding of home buyers and sellers is a very important part of the real estate business. Learning about buyers and sellers has plenty of obvious advantages. Here are a few highlights from the National Association of Realtors® latest Profile of Home Buyers and Sellers:
Believe it or not, when selling your home, no one makes more of an impact on a successful sale than you. A great Realtor will have a solid plan for attracting buyers, but without your cooperation, those showings won’t translate into offers written. Here are some important home showing tips that will contribute to a …
What is Rent-To-Own? If you’re having trouble finding a house to buy, or even getting a mortgage, you might be wondering if “rent-to-own” is a good option. Rent-to-own, or lease-purchase, is where a tenant agrees to lease a home and eventually purchase it from their landlord. Usually, the tenant pays a large down payment at …
Whether you’re buying or selling real estate, how do you know what’s included in the sale of a house? Presumably, you’re buying or selling the house itself and the land on which it sits. But what about the fancy refrigerator, home theater, or smart thermostat? It depends. Typically, anything “permanently attached” should stay. However, it …
What’s An Escalation Clause? The greater Kansas City metro is still a seller’s market. Currently, it’s still very common for sellers to receive multiple offers on their house. When that happens, it’s common to see offers that include an Escalation Clause, also known as an Escalatory Addendum. Simply put, an escalation clause states a buyer …
What is a Home Warranty? A home warranty covers things that your standard homeowner’s insurance policy will not cover. Smart buyers and sellers can look to home warranties as a hedge against unexpected, and often expensive, repairs. A seller can purchase a 6-month warranty for $350-$500. When the house is sold (within that 6-month period) …
Contrary to popular believe, major remodeling projects are not always a good investment. That’s not to say making improvements won’t increase the value of your home. However, it’s important to know there is a difference between cost and value. This is one of the most common misunderstandings in real estate. People want believe that they’ll always …
Cost vs Value: Market Value When purchasing a home, it’s important to understand the difference between cost vs value in real estate. In other words, asking price doesn’t determine market value. The best way to illustrate my point is with an example like this: Buyer #1 pays $350,000 for a house that was listed for …
You’ve done your research to find the perfect house, diligently picking the right school district and a neighborhood that’s relatively close to work, etc. You’ve finally found the perfect home, and your offer has been accepted…now what? The next step in your due diligence process is hiring a home inspector to inspect the home. A …