December 2022 Real Estate Roundup
We are at the end of the year and what a change in the real estate markets we have seen. Interest rates approaching near term highs, buyers and sellers stepping back. Many markets have this standstill where no one is selling or buying. The spring selling season which typically has the highest amount of buyers and sellers looking to buy and sell will be interesting to see in 2023. Check out some of the interesting real estate reads from December 2022.
What Should Be Disclosed When Selling Real Estate
Proper disclosure is an important thing to do when selling real estate. Lack of disclosure can result in the seller being sued and having to pay out damages to the buyer who was affected by the lack of disclosure. Even worse a court can not only order the seller to pay damages to the buyer but also force the seller to take the property back from the buyer and reimburse them for whatever they paid. This article from Bill Gassett provides the important things that should be disclosed when a seller is selling real estate.
First Time Home Buyer Tips
Buying a home for the first time? Make sure you move into the home fully prepared with what you need to actually live in the house. In this article by Luke Skar he provides a list of important things a first time home buyer should have. The list of items range from essential things needed like cleaning supplies, safety items, maintenance items and more. A home has a lot of moving parts and having the right tool or item to enjoy the home to its fullest is important.
When entering a contract to buy or sell a home most contracts should contain contingencies that protect both the buyer and the seller. Contingencies such as making sure the property is insurable, the value meets the appraisal, an inspection contingency and more. These contingencies have time frames involved with them and sticking with those time frames is important in order to make sure the protection works. What the real estate contract contingencies are and how they work are expertly discussed by Vicki Moore in her latest article.
Wintertime Home Selling Tips
Homes sell throughout the year and winter time is no different. The preparation strategy for selling a home in the winter is different though compared to other seasons as Kevin Vitali points out. Home buyers like to test out all the features of a home and want to come to a well presented home. Therefore, the home seller needs to make sure everything is in tip top shape. By having a home in great condition and presentable during the winter months buyers will be ready to make an offer.
Commercial Real Estate Due Diligence
When buying commercial real estate the buyer needs to make sure they perform their due diligence in order to make sure that the subject property is not only physically sound but also financially sound. One of the main reasons for buying commercial real estate is to generate income. In this article by Paul Sian he provides some of the important due diligence items a buyer needs to be performing before closing on their commercial real estate purchase. Due diligence involves relying on a team of experts to make sure everything is what it should be.
Staging Your Home For Best Effect
When listing a home for sale it is ideal to set the stage so potential home buyers can see the full aspects of the house. Cluttered houses, lack of fresh paint, overly personalized features and more can lead to instant buyer turnoff not to mention will result in poor photographs. Photography will be the first impression buyers get online. Sharon Paxson provides eight staging tips that will help a home rise to the top of a buyers list.
Money Saving Tips For Homeowners
Inflation has taken a bite of many budgets and this article comes timely providing homeowners with important tips to save money. Tom Horn provides five different tips that will help a homeowner save money on their home. Whether the savings come from taxes, the monthly mortgage interest payment, energy savings and more there are different options a homeowner should explore.
Can a Real Estate Seller Backout?
A legally binding contract to sell a piece of real estate was signed. The question some sellers (and buyers) have is can the seller back out? The answer is it depends. There are certain ways a seller can backout and not suffer legal consequences on the other hand a seller can’t be forced to close if they change their mind without a court decision. Spark Rental provides some details as to what options a seller has to backout of the sale of real estate.
What are your real estate goals for 2023? Are there some articles that you find helpful for your real estate journey? Please comment below.
Real Estate Roundup for December 2022 was provided by Greater Cincinnati Area Luxury Realtor Paul Sian of United Real Estate Home Connections. Paul is a licensed real estate agent in the states of Ohio and Kentucky and has over 16 years of experience. Do you have a home you are ready to sell now in Greater Cincinnati or Northern Kentucky? Be sure to contact me now!