Buy a House Fast

When most people prepare sell their homes, they try to spruce it up to attract a new buyer.  This may mean a little painting, decluttering, and staging or could go into more major things like replacing the roof or the carpeting. Despite all the press about how competitive a seller must be in this market, some still cling to the idea of “why should I fix this up for someone else?”  They want to sell “as is.”

Ideally, sellers should have a game plan years in advance and schedule improvements that provide family enjoyment and good potential resale value.  Things like decks, modernized kitchens and baths, and finished attics offer a nearly dollar-for-dollar return at resale.  (This assumes they were not done 30 years ago and are now out of date!)  Additions and renovated offices may serve the seller’s needs but don’t translate into as high return at selling time.  Amenities like pools may even be deterrents to buyers.

But then…

Many people live in their homes without any plans of moving on, so undertake projects as time and money permits – or not.  Then, life happens. A job transfer, a divorce, an empty nest, a change in health, unplanned love of a home in a new development…  Suddenly, moving is a priority.  When they want to go, selling the house “as is” seems like a great idea.

It is true that new buyers come in with their own ideas of how they want to decorate.  Most potential buyers look at any home and think about what they would do in the future. This does not mean they want to pay top dollar for a home with” possibilities“ – and green shag carpeting, harvest gold appliances, and disco mirrors in the basement just won’t cut it.

What to do on a budget…

A good Realtor® will help the seller sort out what needs to be done.  If the sellers are on the verge of foreclosure or bankruptcy, major renovations are probably out of the question as they are too cost.  The seller still must still do the basics of cleaning and painting the house to give it fresh look and then work with his Realtor® to price it aggressively.  The Realtor should prep the seller for a low offer and more time on the market.

For people who need to sell, Express Realty Services can sell your house fast.  There is another answer. Our sister company Express Homebuyers can buy your home outright with no closing costs.

Lost in the Crowd?

When buying a home, you will likely become acquainted with a whole slew of real estate professionals.  From the realtor who helps you select a home to the listing agent who shows you some promising inventory, the experience can be difficult (and extremely frustrating) when any of these pivotal characters fail to meet your expectations.  One of the most controversial areas today is the whole appraisal process.

Help for the Weary

The folks over at Fannie Mae and Freddie Mac are doing their best to ensure that no one plays fast and loose with the appraisal process.  To that end, they’ve created a new code that holds appraisers to a higher standard of quality and professionalism. Sounds great, right? Well, it has already gotten serious backlash from people in the real estate business who believe stricter rules can only hurt an already struggling housing market.

As a result, Fannie and Freddie have tried to clarify what the new code means for homebuyers like you.  One major change outlined in the clarification document is the need for mortgage lenders to accept appraisals only from professionals with experience in the region in question.  Think about it: wouldn’t you want the appraisal coming from someone who knows the area your future home is in?

While communication between and real estate agents is permitted in the process (after all, realtors can be an excellent source of information), they cannot have a hand in selecting the appraiser.  The concern here is that a realtor eager to close a deal will select an appraiser they enjoy a mutually beneficial relationship, one willing to provide the estimate necessary for the transaction to be completed as quickly as possible.  Similar arrangements can often exist between appraisers and lenders, who have been known on occasion to lean on appraisers to overstate property values. While that may help a seller sell his house fast, it certainly won’t help when the buyer faces this dilemma: “I wanted to buy my house fast, but it didn’t meet appraisal. Now what do I do?”

Appraisal Delay or Consumer Protection?  You Decide which is Best.

Basically, Fannie and Freddie’s goal in creating a new code is to protect the homebuyer, and restore purity to the appraisal process.  Whatever delay these new measures may cause will be more than made up for by the increased confidence buyers will have in the accuracy and integrity of the professionals they turn to for an estimate.