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Most homeowners have a pretty good idea of where their property ends and their neighbor’s begins. But when it comes to a yard’s exact boundaries in a legal sense, “pretty good” is not good enough. Finding property lines for your house is particularly important when getting ready to sell. Buyers need to know precisely what they are getting—and not getting—along with the house.
House hunters often feel torn when they have found a house for sale by owner, commonly called a “FSBO.” Most home buyers want to be loyal to their realtor but wonder if they can or should work directly with a seller. And they might think working without a realtor could save them money. In fact, working with a realtor is essential when buying an FSBO because this type of sale needs extra attention from a real estate professional.
Has your house been on the market for a while, but you’re not getting any offers? There are few things more upsetting than not being able to sell a house. This is especially true when trying to coordinate the sale with the purchase of your next home. How long do you wait before you start to worry?
For many, owning a home is a big part of the American Dream. It means not having to ask a landlord for permission to paint cabinets; not having to pay extra to have a pet; and having a backyard to entertain friends. It also means an end to rental payments that don’t build equity.
The world of real estate has a language all its own…which can make it difficult for first-time buyers to understand the status of a listing when searching for a home. While a real estate agent can shed light on the differences between pending, under contract, contingent, and other terms encountered during the home buying process, it helps to know a little about them before beginning your search.
Unless you are a first time homebuyer or opting to give up homeownership and rent instead, you will likely be trying to navigate buying and selling a home at the same time. Doing both at once might seem way too stressful, and it can be a bumpy ride. But people manage to get through it all the time.
According to the National Association of Realtors, nearly a quarter of recent home buyers paid cash for their purchase. With such a large chunk of the market willing to bypass the mortgage process, it’s important to look at the benefits and disadvantages of a cash sale before accepting an offer. Selling your home for cash could allow you to get rid of it faster, but it may result in less profit than you were hoping to make.
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Most people understand what foreclosure is, but what is a pre-foreclosure home? As the name implies, it comes before a lender officially starts foreclosure proceedings.
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When buying or selling a home, the realtor might mention the “assessed value” of the property. While often used interchangeably with a real estate appraisal, an assessment is not the same thing. One important distinction is that an appraisal estimates the price that a home could sell for. An assessment helps to calculate the property tax amount. Another difference is that an appraisal is performed by a contractor hired by a mortgage lender, while an assessment is done by a government employee from the county or city assessor’s office. In our region, that is either the St. Louis county assessor or the City of St. Louis assessor.
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When a homeowner decides to hire an agent to sell their property, both parties usually sign a contract called a listing agreement. The listing agreement grants a broker legal authority to represent the owner in a real estate transaction. The document lays out important information for the seller, such as agreed-upon terms regarding commission percentages, timelines, and marketing tactics. Having a formal contract is a good thing for both the owner and the agent.
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