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Home seller pitfalls to avoid
Six years after the market peaked in 2006 and prices started to decline, many sellers are still in denial about the current market value of their homes. It's difficult for most sellers to accept the reality of today's home-sale market, whether they bought at or near the peak and will lose money selling today, or bought decades ago but are still stuck at 2006 prices.
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Who's responsible for defects discovered after closing?
Home buyers who buy during the dry season can be in for an unpleasant surprise when the roof leaks or the basement floods after the first rain. Who is responsible for damage caused by water intrusion and for making the necessary repairs to prevent it from happening again?
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Real estate tips to guard against losing your home
Time and time again, home-buyer wannabes state that the reason they are still fence-sitting is that they don't want to end up in the same trouble the last generation of homeowners did.
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Win the waiting game on short-sale inspection
Q: My daughter made an offer on a house, which the seller accepted, but it is a short sale and now we are waiting for the bank to accept the offer. In the meantime, the seller wants us to get the home inspection done so she is not inconvenienced. I think she will be wasting her money if the bank does not approve the offer.
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Price is not all that matters in real estate sales
Negotiation strategies differ depending on how well the home is priced and who's on the other side. If you're trying to buy a short-sale listing where the lender has to agree to accept less than the amount owed, the seller doesn't have much say in the negotiations about price unless he can contribute money to pay down the loan amount.
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