In a real estate transaction there are realtors, attorney’s, home inspectors, loan officers, bank attorney’s, title companies, appraisers that are all involved at some point in time. With a buyer or seller depending on all these people it’s important that there is a quarterback who is making sure everything goes smoothly and if it doesn’t there needs to be a solution maker. “You will be surprised how many realtors get the deal accepted, pass the info to the attorneys, and simply ask to be notified when the closing date is” says Anthony Garcia, Broker at Performance Residential Realty Corp. Even in a smooth real estate transaction there are issues that come up and it’s important that your realtor will stay engaged and take care of the issues as they come up. It’s also crucial that the realtor has the broad knowledge and experience to be able to have conversations with all the above mentioned parties to fix any problems that incur. A lot of times a realtor will not get involved because they just don’t know how to fix the problem there for they need to rely on someone else like busy attorneys to take care of it.
Let’s start by saying home inspections are very important and are always recommended when you are buying a home. They are done by a professional once a seller accepts your offer and before a buyer formally signs contracts. The inspection allows you to inspect the home much more thoroughly with a professional and will provide you with a summary of the condition of the home. While home inspections are rather cheap in comparison to the cost of a home they could range anywhere between $400-500. It’s important that before a buyer goes through a home inspection they have the right expectations on why they are getting a home inspection and what they can expect to get out of getting one.
Sellers know about the obvious issues with their home and have a reasonably idea how a home inspection is going to go before it is even done. In a lot of cases they already considered this when they listed there home and is already built into the price. Home inspections are very important since they look at things that aren’t easily visible like the roof, electric system, attic, utilities, appliances, etc. and could point out major issues with the house that were previously unknown. However buyers need to have reasonably expectation and not assume they will be able to get a large reduction in cost by making a long list of issues.
If the home inspection reveals some concerns it’s important to relay those issues to their agent in a timely manner so they can be addressed. The seller had three options when they receive such a list. First they can fix any repairs or concerns that come up. Secondly they can offer to give the buyer a reduction in sales price or work credit. And lastly they can simply say no.
In today’s market the sellers are in more of a position to say no then they have been in some time. Home inspections are also very important so that the buyer know what they need to do with the home in the future as an owner. A good inspector will point out some advice that they buyer could do to help with the maintenance of the home and upkeep. This information is very important as well and the buyer should keep the report and look through it after closing. To wrap things up every buyer should get an inspection and carefully go over it. The report will show any concerns that need to be addressed immediately and also point out things you may need to budget for in the future. By having these expectations you will have a transaction that is much smoother and less stressful.
Although research shows that most people don’t believe in ghosts, they are still reluctant to purchasing one; although to some the thought of buying a haunted house would be intriguing.
If you’re thinking of purchasing a home but its appearance kind of has you on the spooked side just do some research on the property. DiedInHouse.com is good website to find out if your dream home is a scream home!