Listing Courtesy of COLDWELL BANKER RESORT REALTY - R
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.
This March has been such a busy one on the Sussex County real estate calendar that I thought it would be a good idea to double-check everything just to be certain I wasn’t overlooking any important happenings.
It wasn’t just that the first day of spring on the 20th is the traditional start of what’s regularly the busiest time of year for Georgetown real estate activity. This is a reliable phenomenon, further reinforced by the 61 million results you get when you Google “Spring Real Estate Selling Season.” To be accurate, the National Association of Realtors® fudges a little by calling spring and summer the hottest seasons for real estate activity—but it turns out they are pointing to the fact that many sales initiated in spring close during the summer (which is when people prefer to move).
March also has a red-letter day on the 23rd, which is when Freddie Mac, the mortgage reinsurer, is set to kick off their ‘Home Possible’ program. It’s a lowering of their down payment requirements, so mortgage lenders will have more leeway with borrowers. That should provide a further boost for Sussex County real estate activity, which has been laboring for years under tough lending requirements that discouraged some otherwise well-qualified home buyers.
Then there was also St. Patrick’s Day (although that has a less-than-convincing effect on Sussex County real estate activity). There is March Madness, in which basketball plays havoc with more than just television schedules. You could say that it plays hob with appointment times for many Georgetown home showings, since the last five minutes of most of the games take at least half an hour.
Just in case the calendar has even more events that might affect Sussex County real estate, we thought we’d better check to be certain we haven’t overlooked any upcoming happenings.
We found out we can relax.
True, this March is Optimism Month, which is certainly thematically in tune with the positive spring real estate outlook (speaking of ‘in tune,’ March is also Music in Our Schools Month and Play the Recorder Month).
It’s International Ideas Month, which, for anyone who’s been following the headlines, is certainly arriving in the nick of time. For those who are, internationally speaking, prone to sticking to their old ideas, March is also International Listening Awareness Month. It’s Mirth Month as well as Humorists are Artists Month. It’s also Noodle Month (does this have a connection with Mirth Month?), Peanut Month, and National Nutrition Month.
In addition to minding nutrition, this is a month for safety: it’s National Collision Awareness Month, as well as National Cheerleading Safety Month. It turns out, there are another couple of dozen other Months that are taking place right now, but most have little to do with buying and selling homes.
What seems better connected to Georgetown real estate is the fact that this is also Umbrella Month, although it’s too early to know the precipitation total for the whole month. It hasn’t prevented many showings or open houses, for sure. In any case, if you are thinking of taking advantage of the Spring Selling Season, it’s also a terrific month to give me a call!