ith most home sales transactions consisting of a home on a lot or small acreage with only an attached or detached garage, selling a home with barns, sheds or outbuildings can be a somewhat unique selling proposition.
In fact, many buyers may fail to realize the value of these structures. If you own a property that includes barns, sheds, shop buildings or other valuable structures, the following tips will help you bring buyers' attention to them and increase their willingness to include these value-added improvements in their total when making an offer on your home.
It is a good idea to ask your real estate agent how to proceed before making any decisions - with their knowledge of your area, they will know what actions can help you get the most value out of your home.
Invest in an Pre-Market Appraisal
To help you determine the actual value that the outbuildings lend to your property, consider investing in a real estate appraisal performed by a reputable, experienced appraiser in your area. Discuss your concerns about the value with the appraiser and ask that only comparable properties that with similar structures are used to help determine the value.
While this type of appraisal can sometimes cost several hundred dollars to complete, it can be helpful in both pricing considerations as well as documenting the value later, should an appraisal performed by a future buyer fail to assign proper...
After months of scouring real estate listings and walking through a whole slew of houses in your favorite neighborhoods, you've finally found The One. The inspector's been through and you have the report in hand. The next big step? Making the offer.
There's a lot that goes into bidding on a house to make sure that you get the best possible price and that the seller accepts your offer. Successful bidding depends on a whole range of factors, all of which should be kept in mind as you work with your real estate agent to submit an appropriate offer.
No matter what the house is worth or how much you love it, your first consideration when bidding on a home is your personal financial situation. If you've been pre-approved for a loan, you already know exactly what your upper limit is, but you should also crunch the numbers one last time to make sure your offer will result in a monthly payment that you're comfortable with.
Just because a lender will allow to take on a huge monthly payment doesn't mean that you should.
The Local Market
Sellers typically list home prices that are somewhere between their dream figure and what the market dictates the house is worth. If houses are going like hot cakes in your area, though, prices will creep up in the hopes that you'll feel pressured to act quickly — and without thinking things through.
Your real estate agent will be able to explain the state of the market and advise...
Magazine articles and even some real estate and mortgage industry bloggers often talk about the spring home selling season and all the reasons why sellers should list and buyers should buy during that timeframe.
Because spring is traditionally a very active period for the real estate industry, some of this reasoning is valid. Some, however, is not and increasing numbers of smart home buyers are proving this every winter.
If you are convinced that you should wait for spring to purchase a home, the following five reasons just might have you considering an earlier start for your search.
Less Competition From Other Buyers
Since there are more buyers looking to purchase in the spring than in the fall and winter, those who deliberately shop for a home late in the year will be less likely to deal with multiple offer situations.
By avoiding competition with other bidders for the same home, buyers can lessen the risk of being involved in a bidding war that could force them to consider paying more than fair market price for the home they want.
Sellers With More Motivation
Home owners who are selling during the winter are usually doing so for a specific reason, such as needing to relocate or because they need to quickly find a larger home for a growing family. In addition to motivations like this, sellers also understand that they may see fewer buyers during the fall or winter season than they might during busier...
Your closing day is rapidly approaching, and you are becoming quite eager to sign the final papers and move in. To your dismay, the real estate agent calls about a delay of days or even weeks. It turns out you missed something along the way.
Closing day delays are quite common, and here are four situations you should watch out for. Every situation is slightly different, so you should consult with your agent and/or lender to see what actions suit your needs best.
1. Home Appraisal Scheduling
After you make an offer and proceed with a home inspection, you need to satisfy the bank’s home appraisal requirement. This task proves to the bank that the home is valued at approximately the offer you made, so that your lender is not giving you a mortgage that far exceeds the home’s actual appraised value.
However, it can be somewhat difficult to schedule an appraiser to come to the house, and you cannot proceed without it. In fact, a recent study indicates that on-time closings dropped from 77 percent to 64 percent from April to September, 2016, and home appraisal delays represented about half of the delayed closings. With this in mind, try to schedule your appraisal as soon as you possibly can.
2. Incorrect Paperwork
As you go through the home buying process, you will sign a very great deal of paperwork. The onus is on you to read it carefully from the beginning, even if you are looking...