9 home repairs to complete before negotiating a sale

There’s something that I see generated in almost every transaction — a list of repair items found during due diligence inspections that buyers would like completed before closing. This can cause heartaches for sellers, who have negotiated their best deal and then feel “put upon” because they’re being asked to make repairs to close the sale.




Comments

Post a Comment

Popular posts from this blog

Hail-Resistant Roofs: Fact or Fiction?

Image
Colorado often experiences severe  hailstorms  that can cause devastating property damage. The Rocky Mountain Insurance Information Association reports that Colorado’s Front Range and Wyoming’s eastern plains, commonly referred to as “hail alley,” receive the highest frequency of large hailstones in North America. Over the past 10 years, hailstorms have caused nearly $1.7 billion in damage to roofs and automobiles in hail alley. The damaging hailstorms generally occur mid-May through late July. Damages incurred to roofs during hailstorms can, however, be reduced with proper roof design and roofing product selection. A properly designed roof structure can substantially reduce hail damage. Several testing agencies have developed the following recommendations for the roof designer: Shingles made with polymer-modified (SBS) asphalt have better resistance to hail damage than shingles made from oxidized asphalt. Reroofing over an existing shingle system greatly increases the ...
Read more

How fast were Denver homes selling last month? Fastest in the U.S.

Image
Homes in Denver sold faster last month than anywhere else in the country. Denver was the fastest market, with nearly half of all homes going under contract in just six days, down from 11 days a year earlier. Seattle was the next fastest market with seven median days on market, followed by Portland, Oregon, and Tacoma, Washington at 10 days. The typical home went under contract in 40 days in the united states, 10 days faster than a year earlier, making April the fastest month on record since 2010 (The earliest we can track) U.S. home prices rose 6.2 percent to a median sale price of $280,000 in April. Home sales inched up 1.2 percent over last year, constrained by a shortage in the supply of homes. The number of homes for sale fell 13.3 percent, the steepest decline in four years, marking 19 straight months of annual declines. When it comes to the housing market breaking records, The market tends to accelerate through June so I wouldn’t be surprised if new records for speed and comp...
Read more

What every home seller and buyer in Colorado should know about title insurance

Most home sellers and buyers have been informed that obtaining title insurance will provide them necessary protection over possible title defects; but many remain uncertain about why this is so—or even about what title insurance is. The more you know about title insurance and its pricing, the more confident you’ll be about getting the right policy. A SELLER’S CONCERN: HOW MUCH DOES IT COST? Title Insurance policy is much more cost effective than the other kinds of insurance you have had to purchase. For a single, one-time-only fee, a title policy remains effective until the property is sold to a new owner—even if that doesn’t occur for decades. The price structure is available on most title companies websites. Some title companies also offer a substantial discount if the policy was issues less than four years earlier. WHY THE BUYER NEEDS TO PROVIDE TITLE INSURANCE? Any prospective buyer will need evidence that his/her investment in your property is free of title defects. In fact, you...
Read more

Man Who Experienced Eye Damage During 1962 Solar Eclipse Gives Warning to Others

Image
A man who damaged his eyes 55 years ago while looking at a partial solar eclipse is warning others about the risks of looking at the sun without protection. In 1962, Lou Tomososki walked home from Marshall High School in Bend, Oregon, with his friend Roger Duval, when the two stopped to watch the partial eclipse occurring in the sky. While they only looked with their naked eyes for a few seconds, the damage the sun caused to Tomososki’s vision would stay with him for the rest of his life. According to Today, Tomososki began to see flashes in his vision, similar to the spots that occur when a picture is taken with a flashbulb. Tomososki, now 70, has experienced vision problems since then, and he is warning those who want to enjoy the Great American Eclipse on August 21 to wear eye protection while looking at the celestial event. “It’s going to be over real quick and it’s not worth taking a chance,” Lou Tomososki told KGW. Tomososki learned that he had burned the retin...
Read more

Centennial - Piney Creek January to March 2008 single family home sales report

7 residential closings up 700% over the same period in 2007. Absorption Rate is ok at 9.0 months. Its not possible to determine any kind of trend since the first three months of 2007 only saw one sale. but it is very encouraging that the sales are off the roof during the same period in 08. Also checkout the average sales price. Jan - March 2007 Jan - March 2008 % Change # of sales closed 1 7 700% # of sales Closed - YTD 1 7 700% Avg Days on Market 229 136 -59% # of Active Listings - 21 - Absorption Rate (months) - 9.0 - Average $ per SqFt 105 148 141% Average Price (Sold) 406,800 622,314 153% Click here for active homes for sale in Piney Creek Absorption Rate Definition Disclaimer - the information and commentary provided in this Blog are opinions of Homes And People and should be used for informational purposes only. All sales data is from the MLS and the information is deemed reliable but not guaranteed.
Read more