Bill Ryan's Blog
A home inspection represents a key stage during the homebuying journey. This inspection enables you to examine a house with a professional property inspector. And if you discover minor or major property issues, you can ask a seller to perform repairs. Or, you may choose to reduce your initial home offer or rescind your proposal.
Ultimately, it pays to be diligent during a home inspection. If you perform an in-depth assessment of a house, you can understand whether this residence is the right choice.
On the other hand, there may be property problems that you identify during a home inspection that you won't ask a seller to repair. These issues may include:
1. Cosmetic Problems
If you ask a home seller to perform cosmetic repairs, the seller may choose to walk away from your homebuying proposal. And if this happens, you could lose your dream house to a rival homebuyer.
There is no need to jeopardize a home sale due to a cracked floor tile, a deck that needs to be stained or other cosmetic problems. Instead, plan to perform cosmetic repairs on your own.
In addition, keep in mind that many cosmetic issues are quick and easy to fix and won't require you to break your budget. This means you likely will have no trouble completing myriad cosmetic repairs after you close on a home.
2. Loose Fixtures
A loose doorknob or light fixture can be frustrating. And as you walk through a house during an inspection, you may feel like repairing a loose fixture is a top priority.
Loose fixtures generally require simple hand tools to repair, and problems with these fixtures frequently can be solved in just minutes. As such, you may want to focus your attention on bigger and potentially more expensive home repairs as you determine which property repair requests to submit to a seller.
Of course, if a loose fixture creates a safety hazard, you should not hesitate to ask the seller to fix this problem. Because if a hazardous fixture remains in place, it may put your health and safety at risk.
3.Non-Functional Light Switch
A non-functional light switch may raise red flags as you inspect a house. But in many instances, this problem is minor.
If you notice a non-functional light switch during a home inspection, there usually is no need to worry. In fact, a property inspector typically can tell you whether a home's electrical system is safe to use and up to code.
For homebuyers who are uncertain about how to proceed with a residence following an inspection, it pays to consult with a real estate agent. This housing market professional can offer expert tips to help you make informed decisions at each stage of the homebuying journey.
Consider your potential property repair requests following a home inspection. By doing so, you can prioritize major property repairs and increase the likelihood that you and the seller can find common ground as you work toward finalizing a purchase agreement.
You are required to get homeowners insurance when you purchase a home. You probably are so excited about buying a home that you neglect to learn the ins and outs of your policy. Unfortunately, there are many things that insurance won’t cover, yet many homeowners think that they are covered under their home insurance policy. Below, you’ll find some things that are often not covered by your home insurance, even though you might think they are.
While your home insurance will cover damage from water in your home (different than flood insurance), the policy probably won’t cover what it takes to fix broken pipes. Your best bet in this area is prevention. You should be sure that your pipes are insulated properly and that there is adequate airflow around the pipes in your cabinets.
If an earthquake hits, you’re out of luck when it comes to your homeowners insurance policy. You typically need a separate policy to get earthquake coverage. If you live in an area prone to earthquakes, you’ll need to inquire about specific policies to protect your home from this type of natural disaster.
You’ll also need a separate policy in the event of a flood. Homeowner’s policies do not cover damage or losses caused by flooding. You can get optional coverage and this is highly recommended, especially if you live near a body of water or in an area that’s prone to flooding.
A Sewer Backup
If a sewer backs up, you’ll face some serious damage in your home. Unfortunately, your homeowners policy will not cover this type of damage. The repairs can be hefty. If you wish, you can always add this type of coverage to your policy.
Only Portions Of Disasters May Be Covered
If a hurricane hits, any damage that has been caused by the wind will be covered by your home insurance policy. If you face flooding, however, and do not have a flood insurance policy, you’ll be out of luck. Without extra coverage, some natural disasters can be a special disaster for you and your wallet.
Keep Up The Maintenance On Your Home
It’s important to understand what is and isn’t covered by your home insurance policy. When you know how to prepare for different situations, it will make caring for and maintaining your home and your financial future a lot easier. If you prepare accordingly for natural disasters as directed, and perform proper maintenance on your home, your insurance policy should act in the best interest for you. If you happen to live in an area where you are prone to natural disasters, make sure you get the appropriate additional coverage that you’ll need to protect you.
If you recently sold your house, there may be only a few weeks before you need to relocate to a new address. As such, you'll likely face a time crunch to pack up your belongings and get rid of excess items, including various home appliances.
Although your refrigerator, washer, dryer and other home appliances have served you well for many years, there is no time like the present to sell these items. That way, you can earn extra cash and avoid the hassle of moving these big, heavy items from your current address to your new one.
For home sellers who have only a short amount of time to sell their appliances, there's no need to worry. In fact, there are many quick, easy ways to sell your appliances and maximize their value.
Now, let's take a look at three tips to help you sell your appliances before moving day.
1. List Your Appliances Online
Create an online listing for each of your home appliances, and you should have no trouble stirring up plenty of interest in these items.
When you craft an online listing, it is important to include as much information as possible. Therefore, you should provide details about a home appliance's age and condition, along with photos. This will make it easy for a home appliance shopper to determine whether a particular appliance is the right choice.
Also, share your online listing with family members and friends. And if you post your online listing on social networks, you may be able to generate significant interest in an appliance in no time at all.
2. Host a Yard Sale
A yard sale offers a great opportunity to sell home appliances and other items before you move.
Host a yard sale on a Saturday or Sunday and start your yard sale in the morning. By doing so, you can improve your chances of attracting a wide range of yard sale shoppers.
In addition, be open to negotiating with yard sale shoppers. If you maintain flexibility on the price of a home appliance, you can boost your chances of a quick sale.
3. Post Flyers in Your Community
Craft flyers that include information about your appliances and post them in your community. This will allow you to generate interest from local buyers.
Flyers should be clear, concise and informative. They can include information about an appliance, along with contact information that enables buyers to reach you via phone or email.
Lastly, if you need to sell appliances prior to moving day, it often pays to consult with a real estate agent.
In many instances, a real estate agent can offer recommendations and suggestions to help you streamline the moving process. As a result, this housing market professional can make it easy for you to sell home appliances and other items before you move.
Ready to sell your home appliances? Use the aforementioned tips, and you can promote your appliances to the right groups of buyers.
Want to sell your house? Ultimately, there are many questions that you'll want to consider before you add your home to the real estate market, including:
1. How Much Is My Home Worth?
Perform a comprehensive assessment of the housing market before you list your residence – you'll be happy you did. With real estate market data in hand, you'll be able to determine how your house stacks up against comparable residences and price it accordingly.
Furthermore, don't forget to get a home appraisal. This evaluation will enable you to better understand how your home's value has changed over the years. It also will allow you to prioritize home improvement tasks that will need to be completed to increase the value of your home.
Be sure to price your residence competitively as well. By doing so, you may be able to accelerate the home selling process and generate plenty of interest in your house as soon as it becomes available.
2. After I Sell My House, Where Will I Go?
You know you want to sell you house, but then what? You'll want to consider what life will be like after you sell your home and plan ahead as much as possible.
For example, if you plan to buy a new house after you sell your current residence, you may want to get pre-approved for a new mortgage. This will ensure that you can sell your current house and look for a new residence at the same time.
On the other hand, if you'll need temporary housing after you sell your home, you may need to put your belongings in temporary storage. Thankfully, you can always rent a storage unit and may want to start checking out storage options in your area. That way, you're ready to relocate your belongings to a storage unit as soon as your home sells.
3. How Can I Maximize the Value of My House?
As a home seller, you'll want to go the extra mile to optimize the value of your residence. Fortunately, there are many quick, easy ways to do just that.
Improving your home's curb appeal is a viable option to stir up interest in your property. Mowing the lawn and performing various home exterior improvements can boost your house's chances of making a positive first impression on homebuyers.
In addition, hiring a real estate agent enables you to eliminate the guesswork commonly associated with listing a residence. Your real estate agent will help you set realistic expectations for the entire home selling process and ensure that you receive the support you deserve at all times. Plus, your real estate agent will set up home showings, keep you up to date about offers on your residence and even provide home selling recommendations.
When it comes to selling your house, there is no reason to worry. If you collaborate with a real estate agent, you should have no trouble speeding up the home selling process and optimizing the value of your house.
If you want to enjoy a fast, seamless and profitable home selling experience, it helps to be flexible. That way, you won't feel pressure to accept the first homebuying proposal that comes your way. Instead, you can listen to various homebuying offers, consider their pros and cons and choose one that matches or exceeds your expectations.
Unfortunately, the stress associated with selling a house can escalate quickly. And if a home seller is not careful, he or she risks making rash decisions that may lead to subpar results.
When it comes to selling a house, it generally is a good idea to be flexible. Now, let's take a look at three tips to help sellers maintain their flexibility throughout the home selling cycle.
1. Evaluate the Housing Market
The current housing market may favor buyers or sellers. If you want to maximize the profits from your home sale – and maintain your flexibility throughout the home selling journey – you should examine the real estate sector closely.
Assess the prices of available houses in your city or town that are similar to your own. This will allow you to see how your residence stacks up against the competition and price it appropriately.
Furthermore, evaluate the prices of recently sold houses in your area. With this housing market data, you can determine whether you're preparing to enter a buyer's or seller's market and plan accordingly.
2. Don't Hesitate to Counter a Buyer's Offer
After you list your house, it may be only a matter of time before you receive an offer on your house. However, just because you receive an offer on your house does not mean that you have to accept this proposal.
Remember, your duty as a home seller is to accept the ideal homebuying proposal based on your home selling goals. If an offer fails to meet your expectations, you should not hesitate to counter or reject this proposal.
In most instances, it helps to counter a buyer's proposal. If you submit a counter-offer that matches a buyer's needs, both you and a buyer can move forward with a transaction. Or, in the worst-case scenario, a buyer will reject the counter-offer, and you can move forward with your attempt to sell your house.
3. Work with a Real Estate Agent
If you're unsure about how to stay flexible throughout the home selling journey, you can always hire a real estate agent. In fact, with a real estate agent at your side, you can get the insights that you need to succeed in any housing market, at any time.
A real estate agent will learn about your home selling goals and help you map out a successful home selling journey. Plus, he or she will list your residence, promote it to the right groups of potential buyers and ensure you can make an informed decision about whether to accept, reject or counter a buyer's proposal.
Want to sell your house? Consider the aforementioned tips, and you can operate as a flexible home seller.