Hiring a home inspector to check out a house before you buy it takes time, but it can save you big money in the end. So what does a home inspector look for?
The home inspection can be a particularly stressful part of the homebuying process for buyers, but the equally anxious seller might be waiting with bated breath for the results as well. The buyer is typically responsible for scheduling and paying for the home inspection, but if the house is revealed to have major issues, the seller can be on the hook for repairs—or could lose the deal entirely.
Home inspection issues like termite or mold damage can mean the seller will have to shell out money, credits, or concessions to make things right with the buyer. If the buyer is truly turned off by the home inspection results (and has a home inspection contingency), they can walk, aka a seller’s worst nightmare.
So why wait for a buyer to initiate a home inspection? If you’re preparing to sell your home, here’s how to identify any problems that can potentially stymy the sale.
Real estate over the last two and a half years can really be summed up by one phrase: Epic seller’s market. We’ve seen countless people list their homes and receive multiple offers over asking—all while doing the bare minimum to fix up or market their property. Home sellers, we have to be honest here: you’ve had it made in the shade.
And while the current real estate market still technically favors sellers, experts see a balance on the horizon that’ll put buyers and sellers on more even ground. The result? Home sellers can no longer bank on getting a bunch of offers over asking.
So if you’re about to list your house and want to maximize your profits (who doesn’t?!) there are plenty of strategies you and your real estate agent can employ.
A home’s risk of flooding—from hurricanes or a huge downpour—is probably not the first thing you’d think to check. Ideally, you want to size up this potential and take precautions if necessary well before you might end up underwater!
Most homes in high-risk flood zones are near a body of water. For instance, the Gulf Coast is one of the U.S. regions most vulnerable to hurricanes that cause flooding. Yet more than 20% of flood-related home insurance claims happen in non-flood zones, so no one should assume they’re safe.
And due to climate changes, flooding may also become more common. According to Popular Science, “Nearly 15 million American properties are at substantial risk of flooding in the next 30 years, and more than three million are almost certain to be underwater at some point in that time.”
So how can you find out if your home is in a flood zone—and if it is, how can you assess the size of this risk and what protections can you put in place? Whether you own a home or are looking to buy, here’s how to figure that out.
To start, hire a fantastic listing real estate agent. These professionals will have the tools and background needed to help you sell your home in today’s quickly changing market.
It’s smart to be picky! A great real estate agent can help find buyers to sell your home fast, and for the most money. Make the wrong choice, and your listing might languish. Then, the lowballing bargain hunters come circling—it’s not pretty.
But there are specific questions to ask so that you can pinpoint the right professional for you.
Realtor®, real estate agent, broker—it’s hard to keep up with all the lingo involved in a real estate transaction. A good place to start is by learning what a Realtor really means.
Do you know how much an average real estate agent commission is? Or who pays real estate agent fees and closing costs?
Though most homebuyers and sellers might not be able to tell you what these fees are, they’re fairly critical to the real estate agent working for you. These fees are how most real estate agents are paid.
So in real estate, who is responsible for paying commissions and fees: the homebuyer or the home seller? How much, on average, should you expect it to cost, and what other fees are you responsible for when you buy or sell a house?
If you’re looking to sell your home, you’ll want to hire an amazing listing real estate agent to help—and there are certain questions to ask so that you can pinpoint the right professional for you.
So many DIY kits, tips, and tricks seem like a great idea when we see them in our social media feeds. But in the hands of a novice, such projects can go badly awry, look unfinished, or be abandoned altogether if the homeowner runs out of steam.
Ultimately, rather than save you money, these DIY projects can end up costing you when it comes time to sell—because buyers will steer clear or lowball you, due to what they see as cheap or substandard work that they will have to pay to fix.
If you sell your house and make a profit, you must pay capital gains tax—so does the same rule apply when you inherit a house from a deceased relative? The truth is that inheriting property can be taxing—both emotionally and financially.
The amount you must pay when you sell an inherited property can indeed take a toll on your bottom line. But before we discuss the details, let’s take a closer look at what capital gains tax actually is.