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Tips On Selling and Buying a Home

Simon Hopes Simon Hopes , 3/6/2018
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Kevin Sheehan knows his fare share about buying a property and with the right real estate agent it should not a big deal. Neither is it a big issue to find homes in the area that are put up for sale. What the problem is and always has been is to make the correct choice. It is not easy to find that one property that would be extremely close to your heart and which will be your dream home. It will take a lot of patience and effort on your part to zero in the perfect choice. So, if you are looking to buy a house, then take some helpful cues either from earlier buyers or a professional realtor who has been dealing in buying and selling property for some time now. Without any guidance, you might just get lost in a maze.

Any good property dealer will ask you to do the following things. It is not always sufficient to find a good house. A number of other factors also matter when you are looking to buy a house; factors that are important for you to consider since you would be the one who be staying in that house for a long time.

Factors To Consider:

Make Frequent Visits to the Place Where You Are Buying the House- Don't make your first trip to the house your last trip simply because you fell in love with the house at first sight. Rather, realtors advice to homebuyers to visit the neighborhood at different times of the day. This is because you would otherwise not have a clear picture of how the neighborhood looks during the day and how it is at night. A safe and crowded neighborhood might just be deserted by late evening, which might be a concern if you are staying alone and coming home late. Also, your frequent visits should include talking to residents who had been staying in the same locality.

Talk With The Current Homeowners: When someone is selling their property, there must be the reason to do so but it is not necessary that the reason is just moving cities. There might be other problems like either with the locality or the house itself that is pushing the people to buy it. Since you will be on the receiving end, you must assure that you are not paying for a problematic property. Ask the seller of what past problems there have been with the property so that you can take precautions from before.

Ask for a Thorough Home Inspection: Buying a house is not similar to ordering anything online where you just buy the thing after seeing the picture. When you are looking to buy a house, make sure that you are not making the decision just by viewing the property photos. Ask for inspections of the house you want to buy to find out what requires to be repaired or replaced. This helps in quoting a lower price for the house as well. Plus, get pest inspections done as it is a major problem that you might face in the long run.

Consider the Taxes That Comes With the Property: If possible, ask the current owner of the house how many tax bills will you need to pay once you own the house. There are various areas where properties are taxed at higher rates frequently. If your future home features in one such area, then you would land up paying a fair amount from your pocket on a yearly basis just on taxes.

When selling your property, you have to do your research about home prices in your area and see if it is an excellent time to market. Note that because of the economic crisis, the foreclosure rate has been at its highest in the previous year and some properties are currently on sale for prices that are lower than the market value. Some homeowners have also opted for short sale just to turn the properties into cash instead of just losing them to the lenders. This again has affected house values in general. Before deciding to sell your house and start posting that "For Sale" signage, you have to be certain about the home values. You should be willing to sell your house for that price. You should also consider that the price can still go down during the negotiation stage.

You should also expect that when you start selling your house, buyers can ask for home inspectors to check on the condition of the house. This means that all the electrical connections, plumbing, roofing, painting and other areas of the house will be checked. Whatever is the result of the inspection, expect that this will be used to negotiate a lower price. The justification will be the amount of repair and improvements that need to be done on the property. It is, therefore, necessary to make sure that you have done your own repair and improvements and make sure that your house is attractive and appealing to prospective buyers.

You can also choose to sell your home as is and offer it at a low price with all the repairs and improvements deducted from the total home value.

Also, consider that the agent will get a commission out of the sale that is made. Hence, you have to make sure that this is considered in your pricing. If foreclosure and short sales are not rampant in your community, you can still come up with a good pricing package and still earn some profits.

Now that you know what selling real estate entails, you can now decide on selling your home considering the above factors.