If a buyer orders one or more home inspections, it does not obligate the seller to make repairs or changes. Rather, inspection reports are typically used to negotiate repairs of major issues, safety or environmental hazards that may be present. It depends on the contract and negotiations as to who
An appraisal is a report created by a qualified individual giving an estimated value of your home. This term is interchangeable for both the report itself and the process by which the estimate is obtained.
The real estate market is typically very strong between March and September. However, selling a home is also influenced by a variety of other factors, not just time of year. Whatever the right time is for you, P.A.M.S. will assist you in obtaining the broadest possible market.
Comparables, otherwise known as comps, are recently sold properties that are similar to your house in size, location and amenities. They help the appraiser determine a fair market value.
Being prequalified means you may potentially receive a loan of the amount stated. This may happen assuming that all information you’ve provided the bank is accurate and truthful. A preapproval means you’ve undergone an extensive financial background check. This check includes your credit history, tax returns and employment verification. It
Homeowners associations are commonly found in subdivisions, gated communities and other types of planned developments such as townhouses and condominiums. They typically include a monthly or annual fee. HOAs are in charge of upkeep for communal areas in addition to enforcing set rules all residents are expected to follow.
An MLS is an online, computerized listing of homes for sale in an area listed with a REALTOR®. Agents are granted access to the MLS to find houses based on search criteria. Our agents are a part of the NTREIS MLS.
It’s not required, but our agents WILL suggest it! Final walk-throughs give buyers a chance to make sure nothing had changed since their first visit. If repairs were requested, as part of the offer, a follow-up visit ensures that everything is squared-away, as expected, per the terms of the contract.
Sellers can flat-out accept or reject an initial offer. But there a third path that is quite common, sellers can initiate a counteroffer. Remember this: a deal isn’t dead until it’s dead. So, if a counteroffer is proffered by the seller, you’re still in the game. You and your agent
Absolutely! Home inspections are required if you plan on financing your home with an FHA or VA loan. For other mortgage programs, inspections are not required. However, home inspections are highly recommended because they can reveal defects in the home that are not easily detected. Home inspections bring peace of