Selling a home can be a long process that is time consuming, especially if the home seller and potential buyers clash. It is very important for home owners who plan to utilize the cash from the sale of their current home for a down payment on their new purchase to avoid these common issues. The issues behind a deal making deadlock are legitimate and can make the sale for any home owner difficult to close. Here are some of the most common issues that can sabotage your home sale.
Cover plates missing
When you have lived in a home for a long time, sometimes little things go missing that are easily forgotten, especially when these little things are in rooms that are not used a lot. For people seeing a home with fresh eyes, these small things can seem significant. One of the most common requests for sellers is to replace missing cover plates on light switches and outlets. Usually they are missing in places such as laundry rooms, basements, and places that are not used that much. This is an incredibly affordable fix. While this fix is inexpensive and easy for home sellers, home buyers should not let such matters stand in the way of a home purchase.
It is an all too common issue that home sellers have missing blinds. A buyer typically sees a home and falls in love. But between the offer and the last walk through, the sellers are done moving out and that includes the rods, blinds, rods, and drapes. When looking at a house, home buyers include window dressings into their overall impression of the property. It is part of the important connection. And if they are not clearly not in the agreement, the window dressings belong to the house. A lot of the time, the home seller will agree to replace or give back the missing items. But if a home seller refuses to give back the items, this will threatens the entire deal, even though you have made it to the final walk-through.
Lightbulbs and batteries not working
Another common request sellers should be prepared for is to replace your light bulbs and smoke detector batteries. These may seem inconsequential, but they will help make a home feel ready to move in, in a really simple way. If a home seller refuses to replace them can be a petty and unnecessary way to kill a sale.
Weird smells and jiggly handles
Seemingly inconsequential problems could often be the difference between a sale and a missed opportunity. Since home sellers have often lived in a home for years, it is easy for these small details to fade from their awareness. Home sellers need to also understand the keys to making a good first impression with potential buyers.
Floors that are creaky
Due diligence is important when buying a house – especially when it comes to older houses. It is important to be realistic about it. The floors in vintage homes that are not quite level is a prime example of this kind of misguided quest for perfection among some prospective buyers.
If the process of selling your home to get into a new is to difficult there are other options. Lending Corner are 203k Rehab loan experts that can help you pull equity out of your home to remodel and ultimately turn your existing home into your dream home.
What is a 203k Rehab Loan work?
A 203k loan is a home improvement loan program that is insured by the FHA that works by allowing home buyers the ability to finance the costs of upgrades through one single mortgage. It is a great product for borrowers who would like to stay in their home but need to remodel and don’t have cash available for the upgrades however they have equity in their home. It is also a great option for borrowers who need to make structural or cosmetic upgrades because of unforeseen issues with the home.
It is important to remember that neither the FHA or HUD actually lend the money to a borrower. Instead, the FHA “Insures” a loan that is provided by an FHA approved lender.
While the borrower eligibility requirements for a 203k loan follow standard FHA lending guidelines, there are a few extra steps involving a contractor, inspector and HUD consultant to ensure the property meets FHA’s insurance standards.
Do you have a question about a 203k Rehab loan? Click here to contact Lending Corner today!
Courtesy of Cuselleration