With much of the country mostly staying home, it's not your typical spring homebuying season.
You might think social distancing has made it difficult to meet with lenders, view properties and sign paperwork, but fortunately that's not the case.
In fact, prospective buyers and sellers continue to move forward with their housing needs and doing so with safety in mind.
While the process may look a little different, modern technology is making it possible and, in some ways, more convenient.
So how does it work?
The way we buy and sell homes may have changed for now, but it’s still an active and essential market. If you have any questions about making a move, please don’t hesitate to get in touch.
What Incentive is Better than Money?
Are you wondering how to avoid getting into a fast and furious bidding war once you find your dream home? Even if you can afford to pay more, it’s not always the best move.
Money is one thing that turns sellers’ heads, but it's far from the only incentive when you’re competing with other buyers. So why raise the ante with more money?
If you want to offer your seller something they can't refuse, try offering a flexible closing date.
Why is the closing date important?
On closing day, the home’s sales documents are signed and ownership changes hands. In most cases, that’s about 30 to 60 days from when your offer is accepted.
But what if that doesn’t work with the seller’s timeline?
How can a flexible closing help you?
Some sellers need to get out fast. They could be relocating and need to move immediately. Maybe they already bought a new home. By offering a fast closing, you can help them to avoid paying two mortgages.
Other sellers need more time. Maybe they're building their dream home and hit an unexpected construction delay. Your flexibility with a delayed possession date offers them the security of having their new home lined up before they have to move.
How else can we sweeten the deal?
Let’s say the best bid you can make is a bit lower than the listing price. Offering a seller rent-back might encourage them to choose your offer over others that are less accommodating. This lets the seller rent the space from you for a set amount of time until they’re ready to move.
To make a flexible closing date work for you, remember to go on a month-to-month lease or have alternative housing options ready.
When you’re ready to make an offer on a home, keep in mind that understanding what motivates the seller is how we’ll get your offer accepted.
Ready to start your search? Reach out today.
3 Ways an Inspection Helps You Sell
Like many homeowners, you might be hoping to capitalize on the hot summer homebuying season to sell your house for a pretty penny. Who knows, maybe you’ll even make enough for the beach house you’ve been eyeing or for a long summer getaway.
But first, you’ll need to get your home ready to sell. And getting a home inspection may be one of the best ways to do that.
Inspections can shed light on potential issues and help you make necessary repairs before listing your home. It might even help you fetch a higher asking price if the inspection shows that your home is in better condition than others in the area.
All in all, an inspection can:
1. Alert You to Issues Before Going Under Contract
A home inspection can highlight issues that might concern potential buyers.
Pro tip: You should fix any issues that pose a safety hazard. And your inspection report can serve as a repair guide before listing.
2. Gauge Your Pricing Expectations
Inspections help you get a handle on what condition your home is in and what price it might fetch.
Pro tip: A clean inspection report, or proof of recent repairs, can help buyers feel more confident in making an offer.
3. Prevent Closing Delays
If issues crop up during the buyer’s inspection, it could delay closing due to repairs or prolonged negotiations. The buyer could even pull their offer altogether.
Pro tip: Fixing issues before listing the home can improve the outcome of your buyer’s inspection. And that could mean less negotiation on the whole.
Keep in mind that inspections come with an upfront fee, and you’ll be legally required to disclose any issues the inspector finds. However, we can discuss the inspection report to see how repairs could affect your home’s market value.
Are you considering selling your home this year? Want to know what it’s worth or what you can expect in today’s market? Reach out today for a free local market report and see how your house measures up.
Hawaii Island Realtor® Broker,