Understand Contingencies in the Florida Real Estate Market.

Posted on by Arona A.
ARONA MCGINLEY REAL ESTATE IN PINELLAS COUNTY

Contingencies are things that a buyer can request that must happen in a set period of time in order for the real estate deal to go through.

Some common contingencies are: Inspection Contingency, Appraisal Contingency, and Finance Contingency.

Inspection Contingency – A buyer can back out of the contract if an inspector finds too many problems or issues with the home.

Appraisal Contingency – This goes into effect if the house appraises for less than the offer contract amount. For example, the contract amount is $500,000 but the appraisal came back at $450,000.

Finance Contingency– The buyer has the option to back out if they cannot secure a mortgage.

What is a 4 Point Inspection?

Posted on by Arona A.
4 POINT INSPECTION

Your offer has been accepted to purchase your dream home, and now you have to set up an inspection to make sure the home is in good condition.

When buying a home, you will have to get a home inspection if you’re getting a mortgage and even if you are purchasing with cash. You want to have a home inspection done no matter what the situation. By having a 4-point inspection done, it lets the bank or the homeowners know the quality of the home that they are purchasing.

A 4-point home inspection includes

  • Foundation
  • Roof
  • Electrical
  • Plumbing
  • HVAC systems
  • Damages caused by termites, flood, fire, and mold.

Any of the above can impact the value of your home. If a home inspection is not done, and later you find out that the foundation is cracked or the roof is rotted, this can be a costly fix for the buyer.

Once something is revealed in the home inspection you can negotiate with the seller for a lower asking price.

Who can do a 4-Point Home Inspection?

  • A Florida licensed general contractor
  • Architect
  • Building Inspector
  • Engineer
  • ASHI Home Inspectors
  • FABI Building Inspectors
  • NACHI Certified Home Inspectors

**A Home Owner cannot do a Home Inspection

Staging Your Home To Sell

Posted on by Arona A.
benefits of staging your home

When selling your home you need to show buyers a house that they can’t wait to live in. A well-staged home can have a big impact on whether the buyer makes and offer or not. This gives the buyer a memorable first impression of your home.

Here are some reasons why you should think about staging your home if you are planning on selling it.

Visualization

You want buyers to visualize themselves living in your home, raising their family and entertaining their friends. Once they can visualize that, they can then make a connection with your house. Then they carry that image with them to every other home they visit. You have a higher chance of getting an offer.

The Wow Factor

When your home is staged, it means that it is not personalized. The home owner have gotten rid of their clutter and personal photos etc. The home now looks dynamic and professional. The furniture and accessories are placed strategically to enhance the space. Basically your home now looks like a million bucks.

A Great First Impression

To get the best possible price on your home you need to make their first impression an memorable one. Once that buyer steps into your home it needs to smell good, look good and just blow them away. When they leave your home they should have formed a good opinion about your home. This can make a big impact of getting an offer or not.

Higher Price, Faster Closings

A properly staged home can give you a substantial increase in pricing in a challenging market. You are more likely to sell your home faster if it’s staged versus if it’s not staged.

Whether you have a professional staging your home or you are doing it yourself, keep in mind that most buyers want to visualize themselves living in a home. Go with a neutral palette and a design that will appeal to a broad range of buyers. Make sure your home is bright, clean and not loaded with too much furniture and personal stuff. When a buyer walks through the home it should be a pleasant experience for the buyer and free of distractions.

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Arona McGinley -Realtor®