Home ownership is not always easy or cheap. There are often expenses that you would rather not pay but that are unavoidable or advisable. December’s best real estate articles offer homeowners some valuable advice on these expenses.
When it comes time to sell, there are many things you can do to increase your chances of getting the price you want. If you are in the process of selling your home, some articles this month contain information that can be very valuable.
Reasons to have your property surveyed
When you own property, you always have bills to pay. While you want to avoid as many of these as possible, some can save you money later.
Property surveys can be very important if you own property, providing helpful information about the topography, structures, utilities and more.
Bill Gassett will walk you through all the essential things you need to know about surveys and explain why you should have your property professionally surveyed. It will help you understand the process of a survey and how it can be useful to the homeowner.
Do you know if the boundaries and fences around your property are in the right place? Boundary disputes can quickly arise between neighbors if it is not clear where the property boundaries are.
A professional survey should clarify boundary errors and uncover other violations or attacks. When planning improvements, a survey can prevent you from making a costly mistake.
Uncovering hidden operating costs
If you want to transition from renting to owning a home, saving a down payment can take many months. You may think that you’re ready to buy once you’ve paid your deposit. However, if you become a homeowner, you will have to pay additional costs.
Luke Skar reveals the hidden costs you have to pay when buying a home. He’ll show you how to set a budget so you don’t spend more than you can afford and end up making mortgage payments that take too much of your monthly income.
While you may be familiar with property taxes, home insurance and HOA fees, there are less obvious costs.
It could be a nasty surprise if you are not prepared for these additional costs. Luke advises you on what to look out for and recommends an emergency fund to cover you in the worst-case scenario.
Why dual agency should be avoided by buyers and sellers
A dual agency in real estate is a real estate agent who represents the buyer and seller in a transaction. While it may seem convenient to have an agent handling both sides of the deal, it can have a negative impact on both buyers and sellers.
For buyers, dual representation can lead to a conflict of interest. The broker may prioritize the seller’s interests over the buyer’s interests because he is legally obligated to act in the best interests of both parties. This can result in the buyer receiving less favorable terms or missing important information about the property.
Additionally, dual representation can limit the buyer’s bargaining power. Because the broker has access to confidential information from both parties, he cannot fully represent the buyer’s interests. This can result in the buyer paying more for the property than in a transaction where a buyer’s agent is protecting their interests.
On the other hand, sellers can also be disadvantaged by dual representation. The agent may not be as motivated to negotiate aggressively on their behalf because they have a vested interest in closing the deal quickly to earn their commission. This can result in the seller receiving a lower price for their property or less favorable conditions.
Additionally, dual representation can lead to a lack of transparency in the transaction. The agent may withhold certain information or fail to disclose potential problems with the property that could affect the buyer’s decision-making process. This lack of transparency can lead to litigation and a loss of trust between those involved.
Due to many years of experience in selling real estate, agents who operate dual representation will never explain the disadvantages. The double commission is far more important to an agent than doing the right thing by his client.
Making the most of an open day
If you want to host an open house to help sell your home, make the most of it. Finding a buyer could be a great opportunity, but if you’re not careful it could lead to potential security issues.
To help you make better use of an open day, Kevin Vitali shows you what you can do to make the most of the opportunity. It addresses the preparation, planning, timing, and marketing needed to get your home to find a buyer.
Unfortunately, not everyone attending your open day will be there for the right reasons. Kevin advises protecting yourself and your possessions as you invite strangers to walk around your home.
While an open house may have you expecting to sell your home, he warns you to lower your expectations. It will also help you consider whether an open house is the best option and whether it might be better to turn down the opportunity.
Steps to Terminate a Real Estate Agent
Unfortunately, there are times in life when we all make bad decisions. One such case is choosing a real estate agent. The best way is always a thorough interview process. This doesn’t always happen, which often leads to frustration and dissatisfaction.
Both buyers and sellers will want to learn how to fire a real estate agent. Check out what you can do to end a relationship with a real estate agent and why you might want to do it. You’ll get actionable advice on how to eliminate an underperforming agent.
Stainless steel kitchen design options
Stainless steel appliances and faucets have long been popular, but are they still a good choice today?
Should you choose stainless steel if you’re looking to replace an appliance or remodel your kitchen? Karen Highland explores the current popularity of stainless steel and what impact availability and your choice could have.
Karen finds that stainless steel remains a popular option that complements many different kitchen styles, although alternative options are increasingly being used.
If you want to replace appliances or furnishings, you have many more options than just one. Karen looks at the other metals and finishes that may suit your kitchen and provide a more exciting choice to match the style of your home.
How long will it take to sell your house?
If you’re selling your home, you’ll probably want to get the papers signed as quickly as possible so you can move forward. But how long will the sales process take?
In Paul Sian’s article on how long it takes to sell a house, he reveals the factors that can significantly affect the time frame. If you’re getting ready to get your home listed, here’s a lot of information about the steps you can take to speed up the process.
He writes about the importance of pricing the home and how you can use the list price to attract more interest. It also explains what to expect when accepting an offer so that you don’t delay the sale unnecessarily.
Something can always go wrong before closing, and Paul gives you the information to prepare you for the problems that could derail the process.
Mistakes to avoid when selling your home
When your home is for sale, you obviously want the best price, but things often go wrong. It’s easy to make mistakes that can cost you thousands of dollars when trying to sell your home.
Kevin Vitali shares some valuable advice to help you learn from other people’s mistakes. He gives you 23 tips to help you get the best price for your property. For example, if you have lived in your own home for a long time, it can easily happen that some problems are overlooked.
You may think your home is clean and tidy enough, but potential buyers may disagree. Buyers will look at your home with new eyes, and even though they will no longer notice the stain on the carpet, they will notice it.
Thorough cleaning, decluttering and home staging are essential but often overlooked by sellers.
Types of Property Listing Agreements
When you hire a real estate agent, you can enter into various listing contracts. The commission, the contract duration and the marketing methods used are specified in the real estate brokerage contract.
The three most common types of listing agreements include:
- Exclusive right of sale
- Exclusive agency
- Open entry
If you are considering signing a listing agreement, you should read this article by Bill Gassett beforehand.
Bill will guide you through a careful review of each of these contracts to make the best decision. You will see the pros, cons and considerations.
Is it time to replace your roof?
The cost of replacing your roof will not be small, and you should definitely delay it if possible. So how do you know if now is the time to replace your roof? This article by Michelle Gibson looks at the warning signs that a roof needs to be replaced.
If your roof has damaged or missing shingles, is the repair enough or is it time to replace the entire roof?
Maybe a leak has you worried that you need a new roof. Michelle explains all the signs that it’s time to spend the money on a new roof. She also explains the different types of roofs and what you should consider before hiring a contractor.
Final thoughts
These December articles provide further valuable advice to homeowners looking to sell, maintain or make changes to their property. Navigating the sales process can be challenging for sellers, but with some of the advice offered this month you should achieve a better outcome.
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Check out some of the excellent advice from previous property reviews.
About the Author: The above summary of the best articles of October 2023 was written by Luke Skar. Luke has been in the mortgage industry for over 20 years. He strives to stay abreast of the latest changes and trends in the mortgage lending and real estate industries.
Through his mortgage blog, websites and social media accounts, he strives to provide the community with as much factual knowledge as possible to benefit all parties in real estate transactions.
