Listing Courtesy of JACK LINGO MILLSBORO
The slick, entertaining formats of HGTV’s many buying and selling programs makes for great entertainment – but, as anyone who has ever actually bought or sold a house knows, they tend to leave some key information on the cutting room floor. Sure, real estate sales in Milton can in fact involve elements of creativity, presentation, personality, all of which make for interesting television viewing. But in real reality, successful real estate sales are largely based on contracts, disclosures, inspections, contingencies, and time. They may be less telegenic, but can be dramatic, especially when you’ve done everything in your power to make sure that a deal works out smoothly, only to be faced with last minute surprises that threaten to prevent you from closing (or cost you a bundle!).
Here are some of the major issues that can impedeMilton real estate sales—and how to prevent them from happening:
Not Weighing the Comps
When you are in the process of making a major decision, it’s natural to seek the opinions of the people who are closest to you. When it comes to real estate sales, however, personal opinions from well-intentioned non-professionals can create distractions that wind up doing more harm than good. In the realm of contracts and negotiations, it’s important to give weight to the opinions of experienced real estate pros. They know how to provide unbiased guidance based on comps and statistics rather than emotion.
Whether you are selling or buying, it’s essential to get any agreements about repairs or updates in writing. Parties will often discuss repairs or credits and assume that a verbal agreement will suffice. Not true. Not only can a repair come back to haunt you later, but certain repairs left uncompleted can delay the close of escrow.
Last Minute Changes
Whether it’s taking out a loan on a new car or holding one final goodbye party at the house, last minute actions by buyers and sellers have an uncanny ability to hold up a deal. When you are in contract for a property, keep your eye on the prize: if you’re the seller, don’t do anything that increases the risk of damage to the house. If you’re the buyer, don’t make sudden changes in your financial life until you are the legal owner of that property.
Buying and selling property is more intricate than a 30-minute TV show, but the end of the episode should feature the same broad smiles and satisfied handshakes—particularly if you don’t let an innocent move derail the purchase. Real estate sales in Milton are my business; call me anytime!
Call/text 302-228-7871 or email me, Russell Stucki, REALTOR® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.
Consumer confidence certainly seems to wax and wane in a not-totally-predictable manner. What does seem clear is that when the future is cloudy, Sussex County homebuyers tend to tighten up their purse strings. It’s logical: if you can plan ahead with a greater degree of certainty, you feel better about making the kind of commitment buying a Sussex County home entails.
If you plan on selling your home in Sussex County, you may not be able to do much about whether the economy grows or tanks, or the Federal Reserve expands or shrinks the money supply. But there IS at least one thing you can do to remove uncertainty from the minds of your prospective buyers. Just offer a home warranty!
A home warranty in Sussex County is an inexpensive plan that provides coverage for items that typically fall outside a traditional home insurance plan. The major kitchen appliances are generally only covered by your home policy if they are damaged in a fire, stolen, or suffer damage resulting from some other covered peril. A home warranty provides reassurance for a much broader scope of damage and mechanical breakdown. Warrantee buyers can also opt to include other large items in the home — like the HVAC system, boilers, water softeners and water heaters.
H.U.D. points out that a home warranty is an increasingly popular inclusion because it offers protection during the period immediately following a home’s purchase — the time when most local home buyers know they will “find themselves cash-strapped.” Although payment can be monthly or annual, most home sellers choose a one-time payment option.
In an uncertain world, are homebuyers reassured when a home warranty is part of your offer? Statistics from the National Home Warranty Association provide their own reassurance: they show that including a home warranty as part of the sale can help a home sell for up to 50% faster.
Even though a Sussex County home warranty is an added expense, it’s an investment that can pay off in helping your home sell faster — possibly at a higher price, as well. Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.