After finding a buyer, all you have to do to make it to closing is to avoid these five traps.Finding a buyer for your home is just the first step on the homeselling path. Tread carefully in the weeks ahead because if you make one of these common seller mistakes, your deal may not close.
Mistake #1: Ignore contingencies
If your contract requires you to do something before the sale, do it. If the buyers make the sale contingent on certain repairs, don’t do cheap patch-jobs and expect the buyers not to notice the fixes weren’t done properly.
Mistake #2: Don’t bother to fix things that break
The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn’t in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If the furnace fails, get a professional to fix it, and inform the buyers that the work was done. When you fail to maintain the home, the buyers may lose confidence in your integrity and the condition of the home and back out of the sale.
Mistake #3: Get lax about deadlines
Treat deadlines as sacrosanct. If you have three days to accept or reject the home inspection, make your decision within three days. If you’re selling, move out a few days early, so you can turn over the keys at closing.
Mistake #4: Refuse to negotiate any further
Once you’ve negotiated a price, it’s natural to calculate how much you’ll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.
Mistake #5: Hide liens from buyers
Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off). If you can do that with the sales proceeds, great. If not, the sale isn’t going to close.
Have you been thinking about purchasing a new home? Wondering what cou
"I'm so thankful for Jason Jordan! I have to say he is patient! And I am determined and stubborn. My fiance and I had a list of standards and requirements for our first home purchase together and I wasn't willing to waiver on any of them. We came close but thankfully our dream house was just around the corner. Jason set up a customized home search for us with our specific requirements on it, which would be sent to us daily, and I would go through them diligently. As soon as we had an official contract on our townhome that we had to sell, I made of list of my top 4 homes I wanted to see. You know what I realized? The house I fell in love with came back on the market! MY DREAM! Now, the other homes were still wonderful and we had yet to see them. Mr Jordan was wonderful and took us through them all so that we could be CERTAIN we felt we were making the best decision. When we walked into our house I knew it was mine! Just felt it in my bones. And it met EVERY SINGLE REQUIREMENT!
Things I like about Jason:
1. He is quick to respond and responds honestly. NO BS.
2. Super helpful and informative especially if you don't know about layouts or terminology. He will walk you right through it. This was my first experience and am glad I had Jason there to walk me through it.
3. Familiarity with Virginia is also a plus. He has been living and working in the area for quite a while and is familiar with it. So he can help guide you to the neighborhoods that give you that home feeling that is right for you!
4. Did I mention that if you are selling a home he puts on one hell of an open house?
Trust me, he's great and I'm in the home of my dreams. I know what I'm talking about!"