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. Read Article
One that's reasonable and well-written can make a big difference I recently saw two very good examples of how not to write and submit an offer for a buyer. I found agents who felt they were representing their buyers, yet failed them both in obtaining what they wanted — a contract on their first home. The first example was an offer I received that had in the special stipulations section a list of 10 items, specifying everything including resurfacing the driveway, replacing the gutters, adding new carpet in the color and choice of the buyer, repainting all interior rooms a color selection made by the buyer, fixing leaks in two specific ceilings and — the part I found most amusing — the HVAC was put on a personal property bill of sales as staying with the property at no cost to the buyer. Plus, in the personal property bill of sale, the agent added light fixtures and even the hot water heater. Well, I know I don’t have to say this, but lig...
Flipping a house means buying a home with the intention of fixing it up and selling it within six months for a profit. Americans flipped 26,947 single-family homes in Q3 2014, accounting for 4 percent of all home sales in that period, according to real estate data firm Realtytrac. The average gross return for investors was $75,990 per home, up 2 percent from Q2. Flipping houses can be profitable, particularly when home values are rising and interest rates remain at historically low levels. The Federal Housing Administration stopped enforcing anti-flipping regulations—which prohibited insuring any home for less than 90 days—in 2010. If you're looking to get into the home flipping business, follow these four guidelines for the best chance of success. Build a Bankroll Everything in life requires money, and house flipping is no exception. You could take out loans to buy properties, but then you are just creating debt in the hopes of making money. A smart house flipper who w...
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