W
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.
Your Budget
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...
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...
