Duarte/Downey Real Estate Agency, Inc

Posted by Duarte/Downey Real Estate Agency, Inc on 2/11/2018

When you think of buying or selling a house, the first thing that comes to mind may not be the legal aspects associated with the process. You may want to reconsider this rather boring part of the process as an important one. Hiring a lawyer can help both buyers and sellers to get through many hurdles that buying a home can present. 

The Contracts

There will be many negotiations and a lot of back and forth throughout the process of buying a home. Everything that’s involved with buying a home needs a contract for it to be legally binding. A real estate attorney will negotiate on your behalf and be sure that the contracts adhere to all state and local laws. The lawyer will also help you to address issues that may affect the future of the property such as botched inspections, liens against the home, and other items that could affect you as the home buyer. 

Title Search

Real estate attorneys will perform what is called a title search. This allows them to see if there are any outstanding liens or judgements against the house. This title search will also make sure that the seller has the right to actually sell the property that’s being sold. An attorney can do all of this much quicker than the average person since they have working relationships with title companies.

Transfer Of Property

If a property is being transferred through a corporation, trust, or partnership, things can get complicated. It’s good to have an attorney who is used to working with these complex situations and understands the legal boundaries within the state or municipality   that the property is in.

If You Choose Not To Have A Real Estate Attorney

Many times, a real estate attorney isn’t required to buy a property. It is advisable to have one, however. Without an attorney you increase your chances of problems arising in the future. You run the risk of:

  • Being sued for failure to disclose information
  • An improper property transaction takes place
  • You could miss relevant facts about the property
  • Failing to file the correct documents at both the state an local levels
  • Deeds are not transferred
  • Building permits weren’t correctly filed

The Takeaway

Having a real estate lawyer on your side is important due to the complex nature of property transactions. While some states require that an attorney be present throughout your property transaction, many states do not have this stipulation. You are smart to hire a competent real estate attorney to protect your own interests as either a buyer or a seller.

Posted by Duarte/Downey Real Estate Agency, Inc on 1/7/2018

Selling a home may seem exceedingly difficult, particularly for a first-time property seller. However, if you receive an offer on your residence that falls just short of your initial expectations, you may be able to negotiate with a homebuyer.

How you handle a negotiation with a homebuyer may dictate how quickly you sell your residence.

If you're unwilling to understand a homebuyer's point of view, you risk missing out on an opportunity to get the best results from your home sale.

On the other hand, if you stay calm throughout a home selling negotiation, you may be better equipped to understand a homebuyer's perspective. This may help you find common ground with a homebuyer and ensure you can speed up the home selling cycle.

What does it take to remain calm during a home selling negotiation? Here are three tips to help home sellers maintain their composure throughout a negotiation.

1. Keep Your Emotions in Check

A home selling negotiation can be stressful. But home sellers who manage to keep their emotions in check can boost their chances of a quick home sale.

If you feel stressed during a home selling negotiation, don't hesitate to take a step back and look at the big picture.

Remember, your ultimate goal is to sell your residence. With the lines of communication open, you and a homebuyer can work together to ensure all parties involved in a negotiation are satisfied with the end results.

2. Look at All of the Options at Your Disposal

If a home selling negotiation goes south, there is no need to panic. Instead, consider all of the options at your disposal, and you'll be able to determine how to proceed from here.

For home sellers, it is essential to note that many homebuyers are on the lookout for high-quality residences in cities and towns around the country. Thus, if a negotiation with a homebuyer fails to work out, you can continue to promote your house on the real estate market.

3. Work with a Real Estate Agent

A real estate agent is a must-have for many home sellers, and for good reason. This housing market professional will handle a home selling negotiation and ensure you can seamlessly navigate the entire home selling journey.

Typically, a real estate agent can negotiate with a homebuyer on your behalf. He or she will keep you up to date about any homebuyer requests and offer honest, unbiased home selling suggestions. As a result, you can receive expert home selling guidance and make informed decisions at each stage of a home selling negotiation.

A real estate agent also will respond to your home selling concerns and questions at any time. That way, this housing market professional will make it simple for you to alleviate stress in a high-pressure home selling negotiation.

When it comes to handling a home selling negotiation, there is no need to worry. Take advantage of the aforementioned tips, and you should have no trouble remaining calm, cool and collected during a negotiation with a homebuyer.

Posted by Duarte/Downey Real Estate Agency, Inc on 12/31/2017

One of the toughest choices to make when selling a home can be choosing a bidder. Often because sellers don’t expect this to be a difficult decision! It seems like it would be straightforward. You might think you should accept the first offer or maybe you’re in the camp of accepting the highest bid. And while both of these choices are valid there are other factors to take into consideration. Factors that can make selling your home even easier and relatively hassle-free.

One of the biggest fears people have and one that really throws a wrench in the process is potential buyers backing out of a deal or asking for pricey repairs. And for this reason, I suggest looking closely at all of your bids to review the concessions and contingencies each contract contains as well as the type of financing each buyer will be utilizing.

For example, one thing to look for is earnest money. This is money in an escrow account either held by the real estate agent or the buyer and seller and shows the buyer’s commitment to their bid. It gives the buyer more time to sort out their financing but is also seen as a guard against the buyer walking away mid-agreement.

What is the stability of a buyer's financing? What institution is it coming from? Do a search online to learn more information about each buyer’s finance provider. A buyer may pay in cash, offering a larger down-payment or be pre-approved for a loan.

Sometimes buyers will also include a contingency in their contract to not begin payment until they have sold their own home. If this is something you are not comfortable with this bid might belong in your “No” pile despite a higher bid or down payment.

Are they asking you to cover any expenses? They may ask for the attorney review fee to be waived, inspection fees to be covered or costly repairs to be made before closing. Again, are you okay with covering these costs? Do the math to see if these requests bring down the value of the bid. Depending on how much of an investment they are asking for you to make this could create a less enticing bid.

Sometimes, choosing a bid is less about the numbers and more about convenience. If you are in the middle of shopping for a new home yourself, bidders who offer flexibility on the move in/out date could move to the top of your “Yes” list. Sometimes buyers want to keep furniture or appliances from a home, which could make moving a much lighter load.

If your head is spinning from all of these different factors to take into consideration when choosing a bid, that’s okay! This is why working with a real estate agent is so beneficial. Look to your agent for advice when weighing out the benefits of each bid and on making the final decision.

Posted by Duarte/Downey Real Estate Agency, Inc on 12/17/2017

A nightmare home selling experience is something that every home seller wants to avoid. Fortunately, we're here to teach you the ins and outs of selling a house so that you can minimize the risk of problems that could lead to a nightmare home selling experience.

Now, let's take a look at three tips to help you avoid a nightmare home selling experience.

1. Study the Real Estate Market Closely

You don't need to be a real estate market expert to find ways to maximize the profits from your home sale. Instead, you can study the real estate market closely and gain the insights that you need to price your house competitively.

Remember, a home seller's goal is to optimize the value of his or her house. To accomplish this goal, it is paramount to establish the right home price from day one. Otherwise, a home seller risks alienating buyers with a price that is too high, or missing out on profits due to a price that is too low.

Take a look at the prices of available houses in your area that are similar to your own. This housing market data will enable you to see how your residence stacks up against the competition so that you can price your house accordingly.

2. Conduct a Home Inspection

A home inspection usually is completed after a home seller accepts a buyer's offer. However, a home seller who conducts an inspection before listing his or her residence can increase the likelihood of a profitable home sale. Perhaps best of all, this home seller can avoid the danger of a buyer requesting home repairs or a price reduction later in the home selling cycle.

During a home inspection, a property expert will evaluate your residence both inside and out. This property expert then will provide a comprehensive report that details his or her findings.

Examine a home inspection report. That way, you can find out about your house's strengths and weaknesses and take the necessary steps to transform various weaknesses into strengths.

3. Hire an Experienced Real Estate Agent

An experienced real estate agent understands exactly what it takes to sell a home, regardless of the current housing market's conditions. As such, this real estate agent can serve as a guide throughout the home selling journey and help you immediately identify and resolve any potential home selling hurdles.

For example, an experienced real estate agent can provide you with a wealth of housing market data before you list your residence. This housing market professional will help you make sense of assorted real estate data and ensure that you can establish a competitive price for your house. He or she also will promote your house to the right groups of buyers and help you enjoy a quick, seamless home sale.

When it comes to selling your home, there is no need to leave anything to chance. Take advantage of the aforementioned tips, and you can avoid a nightmare home selling experience.

Categories: Uncategorized  

Posted by Duarte/Downey Real Estate Agency, Inc on 10/15/2017

The home selling journey can be long and time-consuming, particularly for those who are listing a residence for the first time. Lucky for you, there are many quick, easy ways to avoid the danger of becoming a "typical" home seller, i.e. someone who lacks the skills and know-how to generate plenty of interest in his or her property.

Now, let's take a look at three tips that you can use to become an expert home seller.

1. Review the Current State of the Housing Market

The housing market often fluctuates. As such, a buyer's market today may quickly morph into a seller's market tomorrow.

Ultimately, an expert home seller will allocate the necessary time and resources to learn about the current state of the real estate market. He or she will be able to identify housing market patterns and trends and collect extensive real estate market data to map out the home selling journey accordingly.

To learn about the housing market, take a look at some of the houses that are currently available in your city or town. Evaluating available houses in your area will allow you to find out how your residence stacks up against the competition.

Also, assess the prices of recently sold residences in your region. This may help you differentiate between a buyer's market and a seller's market.

2. Analyze Your House's Interior and Exterior

For a home seller, it is paramount that his or her residence makes a positive first impression on potential homebuyers. And if you enhance your house's interior and exterior, you may be able to boost your chances of a quick, seamless home sale.

A property appraisal usually represents a great starting point for home sellers. This appraisal involves a full evaluation of your house by a property inspector. Then, you'll receive a report that outlines your home's strengths and weaknesses and will help you plan any home improvement projects.

Also, it is important to remember that there are many simple ways to upgrade your home's exterior and interior.

Home exterior improvements like mowing the front lawn and clearing dirt and debris from walkways can make a world of difference in the eyes of homebuyers.

Removing clutter from your home offers multiple benefits as well. De-cluttering allows you to free up space inside your residence as well as get rid of unwanted items.

3. Collaborate with a Real Estate Agent

There is no need to navigate the home selling process on your own. Fortunately, you can hire a real estate agent to help you remove the guesswork as you proceed along the home selling journey.

A real estate agent understands what it takes to promote your residence to large groups of potential property buyers. In fact, he or she will set up property showings and open houses, offer honest, unbiased home selling suggestions and respond to your home selling queries at any time.

Don't settle for an "average" home selling experience. Instead, use the aforementioned tips, and you can become an expert home seller in no time at all.

Categories: Uncategorized