39345 Natures, Bethany Beach, De 19930 | $1,399,000

Many people don’t fully understand why it is that St. Patrick’s is the perfect day for selling a Bethany Beach home, or for buying one. But if ever there were a right time to explain it, this is it. There is one drawback to any such explanation, though: namely, that it makes so little sense.

That does not seem to make much difference to a lot of real estate industry marketing supply companies. I can bear witness to that fact, in the form of the postcards and various art pieces that are pitched to Realtors en masse ahead of every St. Pat’s. As you might guess, they are green (usually very green), and almost without exception bear some rendition of a four leaf clover. Also rainbows, pots of gold, wee leprechauns wearing green top hats with buckles on them, and sometimes horseshoes (to indicate the Luck O’ the Irish, of course).

What could this have to do with selling a Bethany Beach home, or buying one? That’s very hard to pin down. There is the simple good will postcard, that says, “Happy St. Patrick’s Day” with no further connection. That’s a nice thought, certainly, and not risky. Who wouldn’t want to have a happy St. Patrick’s Day? There is one with a good-looking home at the end of a rainbow, with a wee little leprechaun holding a “Welcome Home!” sign—certainly a strong connection between selling an Sussex County home and the celebration.

One of the best ones is the poster that features two shades of green, a cartoon three-leaf clover (mistake there, if you ask me) upon which is printed in Celtic-looking letters, “You don’t need to have the ‘Luck of the Irish’ to sell your home.” You have to like that one, because it doesn’t discriminate against people who aren’t Irish (the closer you get to St. Patrick’s Day, the more you run the risk of seeming to snub the non-Irish among us).

There is one postcard with a lady bug crawling over clover leaves emblazoned with a sentimental poem, but the emotionality of the poetry is tempered by the heading, “For all Your Real Estate needs just give me a call!” Balance is important on St. Patrick’s Day…but it’s not clear that the card with the green beer mugs got that message (which is “Happy St. Patrick’s Day! Remember, parade watching is like real estate. Location, location, location.”).

One that also tips the scales in the direction of crass commercialism is the picture of the big pot o’ gold brimming with gold coins. It says, “It takes more than Luck to sell your home.” I’m not sure what the St. Pat’s message is for that one—that selling your Sussex County home requires you to go out, find a leprechaun or rainbow, and wangle a pot o’ gold? It’s simply not the case. If you ask me, an experienced Realtor with a great marketing plan and a reasonable price will do the trick better than pots o’ gold or four-leaf clovers. Still, that can’t keep me from wishing you a terrific St. Patrick’s Day, as too!   

The recent Mortgage Credit Availability Index shows a slight relaxation in lending standards — but as most Delaware home buyers and sellers will agree, getting a mortgage is still difficult. With mortgage availability benchmarked at 100, although it’s currently at  111 ½, compared with the 800 it stood at in 2007, today’s is still a tough environment.

That’s why Delaware seller financing is being considered by more homeowners. When a home is owned outright, seller financing can draw a higher selling price (with future interest payments as a bonus). But before making such an offer, Delaware homeowners need to consider all of the ramifications: there is more involved than just the assumption of added risk.

Of course, ordering and examining a buyer’s credit report is the starting point. If the story it tells needs too many explanations, it’s time to walk away. Foreclosing on a seller-financed home can be more difficult than through a traditional foreclosure —particularly if the financing documents are substandard.

At first blush, seller financing might seem to simplify the whole transaction, but in fact some details usually handled by a bank must be hammered out:

• Who will pay for the appraisal; who for the inspection?
• Who is going to be responsible for property taxes and upkeep?
• Will the deed be transferred to the buyer right away, or only after the home is paid off? 

Those issues point out why a “handshake deal” can’t be recommended for a Delaware seller financing arrangement. Just consider the last two points: if the deed hasn’t been transferred and taxes are in arrears, whose credit is harmed?

A good attorney will draft an agreement that nails down responsibilities and penalties for a buyer default as well as a detailed payment structure. A well-drafted seller financing agreement protects both parties by preventing misunderstandings and providing an unambiguous inducement for good behavior.

Given the right buyer, clear communicating and a framework cemented by the proper paperwork, Delaware seller financing can provide the missing element that makes a sale possible. If you will be listing your own Delaware home, give me a 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.