Have you ever found yourself in the process of buying or selling a home only for something to go wrong?
Whether this has ever happened to you or not, I would like to share some tips today on how to prevent a real estate transaction from falling apart. During any transaction, there are three main hurdles. Let’s take a look at what they are and how to overcome them:
- The inspection. Sometimes, this is the point where a buyer may find something they dislike about the home and simply walk away. The issue they find may not even be all that significant. Still, it can be confusing to a seller to have this happen, especially if their home was receiving multiple offers. For this reason, I recommend that sellers get rid of as many of these small issues as they can ahead of time. Anything you can fix for under $100 could make a big difference. During a real estate transaction, preparation such as this is key.
- Appraisals. Problems related to appraisals typically come up due to lack of preparation. To help combat that, my team and I like to accompany our client in meeting the appraiser on the property when entering escrow. The appraiser probably doesn’t know the neighborhood of the home as well as our client or we might. This additional step can really demonstrate the value of the property so that the home is more likely to appraise.
- The loan. Too many buyers out there aren’t truly pre-approved. When we have a buyer open escrow with us on our listings, we cross-qualify them with our lender just to be sure. This prevents people from spending a lot of money on a transaction only to realize they aren’t qualified to buy a home.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.