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Roy's Real Estate Corner -4
Multiple OffersOur real estate market continues to be very active, and it is not unusual to get multiple simultaneous offers on well priced property. As a seller, this is good news because there is a protocol for responding (counteroffer) to each offer, specifying the terms and conditions that are most important to them. Each prospective buyer is informed that there are other offers under consideration, and that the seller may accept or reject subsequent offers. Buyers do no have to respond if they don't want to get involved in a bidding situation, but they have the option to tailor a counter-counter offer based on the seller's counter. Note to buyers - price is not always the most important consideration. But, to be competitive, the buyer must be pre-qualified by a lender for the mount of the loan. Cash talks.
If the buyer's offer is not accepted, she may opt to make a back-up offer, which is an agreement to make a contract if a primary offer falls through.
Call Hannon Real Estate Services ' We makt it happen at 600 E. Wilcox. Corner of Wilcox and Fifth.
Price and TermsWhether you are buying or selling real estate, you will be involved in negotiating the price and terms of the sale. Sometimes, parties are so involved in price that they overlook the importance of terms as a negotiating tool. Terms can include financing, possession, repairs, personal property, renting the property prior to closing or occupying after closing or occupying after closing , home warranty coverage, closing costs, inspections, and more. A skilled negotiator asks questions and determines priorities that may be included in a final, mutually beneficial contract for sale. Money ain't everything!!
We are experts in negotiating real estate sales and creating happy customers
The ContractThe real estate contract is a written agreement between two or more parties to purchase, lease of exchange real estate. It is legally enforceable, which means that either party may enter into litigation against the other in the event of breech, or default of the contract. In the movies, the parties agree to what they want to do and shake hands on it, and that is the binding contract - in real life the parties agree what they want to do and then forget what they agreed upon, or subsequently re-interpret the verbal agreement. The chief benefit of the written contract is to remind everyone what was agreed upon.
Our real estate contract is a whopping ten pages, which seems intimidating at first glance, but it is a carefully created work of art and law, based upon years of experience and thousands of transactions. As much as possible, it is fair to both parties and very specifically defines all actions and responsibilities.
A good contract eliminates misunderstanding and misinterpretation. It serves as a guide to complete the transaction and solve any problems which may arise.
Call us if you would like more information about buying or selling real estate.
ChangesIf you have not been involved in a real estate sale or purchase for a few years, this is a heads-up. Expect real differences in the following areas:
Lenders - there are more of them, and they get the job done more quickly, even though there are more requirements. Your credit is dependant upon you FICO score, and there are many specialized loan programs to choose from. Interest rates are still very competitive. Hint: Try to deal with a local lender.
Fast-paced market - be prepared to act quickly if you are looking for a home in the most popular price range, $100-125,000. If you dally it is gone!
Disclosure requirements - buyers have a home inspection and sellers have a disclosure statement. No one need be surprised about a deficiency in the property after closing.
These are just a few examples of change in our local market. We would be glad to discuss the purchase or sale of real estate with you. Just call 417-9224.
In praise of evaporative coolingSummer is nigh, and high desert dwellers are looking forward to warmer temperatures (or not). If you are a recent arrival, you may not know about the preferred method of cooling those summer days in our area, the evaporative, or swamp cooler. This type of cooler has four components, a blower fan, a water pump and supply, and some sort of pad that air can be pulled through. The reason that this type of cooling may be foreign to you is that it works best in low humidity, like our climate. The advantages of evaporative cooling include the cost to install and maintain, the operating cost (one forth to one half of refrigerated cooling), and the fact that the air is filtered and humidified as it is cooled. It can also be used to ventilate the home by turning off the water pump.
The swamp cooler, like the bicycle, is a simple and elegant solution to a physics problem. It uses about as much water as dishwasher cycle (four to 15 gallons/day), and a 13 year old can fix most anything that can go wrong. And the hotter it gets, the better it cools.
In our rush to embrace technology, we sometimes forget that simple can be better.
If you would like to purchase an evaporative cooler with a home attached, call us.
Good fences make good neighborsNever underestimate the importance of knowing exactly where your property boundaries are located.
Clearly marked corners can prevent misunderstandings, disagreements and litigation. It is a fact that otherwise reasonable and agreeable people become rabid if the think neighbors are trespassing or encroaching on their land.
Fences may be a problem too, because who built what sometimes blurs with the passage of time, so when it is time for replacements or repair, the responsibilities are not clear. A party wall agreement can establish join responsibility for fence maintenance and replacement. This agreement can be recorded and transfers with the property whenever it is sold. A little foresight and a survey can go a long way to making good neighbors, too.
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