I work with both home buyers and home sellers, so I hear the conversation about
houses from both the home buying and home selling perspectives.
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When it comes to purchasing a home, it’s important to think not just about the house
and how you’ll use that home yourself.
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It’s also worth considering characteristics of the house that won’t change and how those factors will impact the home value when it comes time to sell.
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The 5 factors below will decrease the number of home buyers interested in the house just because they exist.
The only way to overcome these negative characteristics is to price the house below
other similar properties and make buying the house such a bargain that the future home buyer can’t resist.
Chances are, it was a lower price is what drew you to that house in the first place. So, expect the same will happen when you go to sell.
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If the home buyer can’t bring themselves...
by David Strauss, Attorney, O'Kelley and Sorohan
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The current market for residential real estate is a decidedly seller’s market. A record low inventory of homes for sale, coupled with an increased demand for homes to purchase has led to an incredibly competitive marketplace. As a result, many Buyers are making offers to purchase homes that are well above asking price, allow the Seller to have temporary occupancy of the home after closing, have a large amount of earnest money, and waive contract contingencies in favor of the buyer. Such an offer may win the deal but it does not come without significantly more risk than normal for a Buyer.
Below are some common tactics Buyers are using to be competitive in today’s market. Buyers should understand what it means to make such an offer and the risk the expose themselves to in doing so.
WAIVING DUE DILIGENCE
What is Due Diligence?
Due diligence is a time where the Buyer may unilaterally terminate the co...
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