If you have ever dealt with a truly obnoxious homeowner who is getting ready to sell; you know this can be a dreadful experience. While typical home sellers are gleeful about the opportunity to sell and make a killing on their great investment, some home sellers can be bad. Very bad. Other times, this kind of seller can not only kill the deal; they can end up losing money on their sell, because of their bad attitude. Sadly, the realtor in this situation ends up paying the higher price for having to cope with not only a spoiled sell, but also a spoiled seller.
For homeowners getting ready to sell, there are a few things that you should not do. Take a look through the following five facts, and don’t get caught being a Seller from Hell.
- Don’t be Stingy with the Buyer’s Earnest Money
When a buyer is really serious about buying a home; earnest money is provided to hold the house. Just like putting an item on lay away; earnest money is used to secure the sale and allows the buyer to get everything together in terms of financing or even selling their home. In a recent story related to earnest money, a seller decided to hang on to the Buyer’s earnest money. Apparently, there was a dispute over weather damage, and the Buyer expressed concerns over how storm-related issues were handled. In response, the Seller decided not only not to sell the Buyer the home, but also decided to not return the earnest money.
Eventually, the Seller decided to return the monies, rather than go to Court. This resulted in a lot of time and money costs, and the home sale was lost.
Simply, if you want to sell; keep your promise, and don’t keep someone else’s money. Bottom line.
As the economy has been improving so has the housing market. However, there are areas of the country where the market is not as healthy like it is in other areas. The health of the market depends on the neighborhood, as well as how affluent the city is.
It also has a lot to do with how desirable the state is to live in and, how nice the weather is and mostly is it a good time to sell a house? California for example has always been a very desirable state to live in, and this is why the properties in the areas of Los Angeles, Orange Counties and, areas of central and northern California have always commanded a higher price to live in.
1 Cash usage. A good indicator of a competitive market is when sellers are often, given offers that are cash in hand. Buyers who are willing to pay in cash, often understand the area that they are buying in. This is also an indicator of someone that has been, working for a while in their chosen field.
2 Bidding wars. This is when potential buyers put in so many offers that this drives the original asking price of the home up so much and it is a war of who can put in the highest offer of the house before it closes. The thinking behind this is if someone really wants the house, they will raise the price up enough to where other buyers do not have the money to buy it.
Contributor: James Link
Spring is in full force. And in the real estate market, the spring months are the best time for buying and selling homes. Spring is about change, and it’s about getting a house ready to sell so that families can move during the summer when the kids are out of school. With the new mortgage and housing rules that have recently gone into effect over the winter, there is definitely angst about selling, because some existing sales have been impacted by the new rules, including that home buyers are facing different qualification rules and the types of mortgages the lenders will provide. Along with the new rules, housing inventories remain somewhat low, and ongoing concerns about the economy continue to drive volatility in the real estate market.
Contributor : James Link
It’s certain that most people have heard that living in New York or San Francisco is very expensive. And rents definitely surpass the national average in both places. With average rents increasing nationally, there are still two cities battling it out for which rent is the priciest. Surprisingly though, there are eight other cities that do not lag far behind in terms of their pricey livability.
Interestingly, there are 10 cities where Millennials, especially, are willing to pay high rent just to live there. These desirable attributes include great universities, favorable jobs, overall appeal, and an exciting lifestyle. The economy is good enough in these areas and the areas around them to support people in paying the higher price for rent.
Let’s take a look at the ten cities with the highest rents.