Wednesday, September 14, 2022 / by Ana Baldner
When it comes to dipping your toe in the Real Estate World, the first thing you'll notice is the abundance of industry specific terms that seem to come up frequently and may seem like foreign concepts. Terms you probably haven't ever heard of before! Skipping over the meanings of these words can keep you from understanding crucial information about your favorite listings.
Here we made you a quick “cheat sheet” with a bunch of common Real Estate Terms. Keep these in mind, and it'll help you out when browsing for properties or closing on your own home.
As-Is: The home may need repairs or renovations that the seller will not complete before or as part of the sale. As-is also refers to the condition of the property at the time the offer was written and should something happen to the property from the time the offer was written to closing which alters this condition, then the seller must bring back the property to its “as-is” condition OR the 2 ...
Monday, June 20, 2022 / by Ana Baldner
You'd do everything you could to get the home you want, right? If you've been searching for a home the last 2 years, you know that you've got competition. One strategy that isn't taken advantage of enough: Backup offers
If a Buyer submits an offer and the Seller chooses another one, I encourage my Buyers to submit a Backup offer. A Backup offer is a bona-fide written offer - terms, pre-approval or proof of funds and all. There is an additional form that notes how long you're willing to be in Backup position. If the seller accepts and signs off then that home is secured for you, should the 1st Buyer fall through. A lot of Buyers say to me, "That probably won't happen though. I'll just resubmit my offer if it comes back on the market." I tell them, DON'T. If you wait for the property to come back on the market, then you're competing with the entire market again. Buyers fall through all the time, especially in a market where ; ...