01Jun

#4 Sellers, Consider a Home Inspection

Home Inspection

As the local Real Estate market continues to evolve, a professional home inspection completed before placing your home on the market could have multiple benefits:

  • Gives buyer more confidence regarding your homes condition vs. other homes they may be considering.
  • Indicates to area Realtors that you are a “serious seller”, which increases activity.
  • Necessary repairs can be addressed prior to placing the home on the market, thereby improving the homes “showing condition”.
  • Provides the seller more control over repair costs.

Call me before having an inspection done.  While it is a tool that sellers can use, it may not be recommended in all cases.

PRICE & CONDITION

Well maintained homes that are priced at fair market value, always sell.
The two most important points of the above statement are…

  1. While we have very little control over the current market values of our homes, we have total control of our homes maintenance and showing condition.  My advice is to realize this and take full advantage of it.  If you’re ready to sell, your home needs to be ready too.
  2. Priced at fair market value.  Unveil your home to the market at or very close to the indicated fair market value.  The first 30 days a home is on the market are the most crucial to a timely sale at a reasonable price.  Waiting too long to reduce the price can make a home appear stale in the minds of the buyers and Realtors.

HOME EQUITY LOANS

I have never been a big fan of Home Equity Loans.  My professional exposure to these types of loans comes into play when I have a client who decides to sell their home.  In many cases the bank has allowed the property owner to take out too much equity.  The seller, after paying off their first mortgage, the equity loan and covering their closing costs is not left with enough money for a down payment on a home to replace the one they just sold.I acknowledge and understand in some hardship scenarios or to consolidate other debt a home equity loan may be an option.My strongest advice is to speak to a financial planner first.  We all need to understand the long term ramifications and be aware of all options before tapping into our homes equity.

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