When you hire a home inspector for your home for sale in West Bloomfield, Michigan, you are often afraid of losing the house because this is the time when the house reveals its secrets. When the home inspection goes on for long, you become disappointed that you have to let go of your dream house.
However, why retract the offer when you can come up with a counteroffer? Yes, there might be a few repairs but those can be easily dealt with if the seller agrees to offer you a few warranties or other incentives.
Let’s have a look at what this inspection holds for you and your dream house:
The first thing you need to do is stop worrying about the home inspection. The inspector will make sure that all problems are noted down. These problems are invisible to an untrained eye, so you can trust the inspector. Once the report is in your hand, consult with your real estate agent and come up with a counteroffer if you don’t like the results.
The Connection between the Inspection Report and the Appraisal Value
As mentioned earlier, major repairs in the report can affect the appraisal value of the home for sale in West Bloomfield, Michigan. If the seller lied on the home inspection report, then according to the State Law, he has to cover all the repairs.
The report covers the following areas:
The report provided by the inspector covers the following things:
- Repairs in the house
- How the repairs can be tackled
- Repair costs
Hiring a Home Inspector
Before hiring a home inspector, ask him the following questions:
- How much experience do you have in this field (5 years is a good number)
- Are you licensed?
- Explain to me your charges?
- Can I see a sample report?
- How much time will it take to make the report?
- Which areas do you check and which ones do you leave out?
- Water pressure
- Attic leaks
- Electrical wiring
- Strength of door and window frames
- Installation of safety features (smoke and carbon monoxide detectors)
- HVAC system
- Lead paint
Negotiating – Preparing the Counteroffer
Once you have the report in your hand, calculate the cost of the repairs and compare it with the house’s value? Is it worth it? By law, the seller is only required to fix anything that:
- Compromises safety
- Violates building code
- Might cause structural defects
Now is the time for you to negotiate. Here, you have two options:
- Tell the seller to make the repairs (ask for the invoice)
- Present the seller with a counteroffer, in which you have lowered the house’s price in exchange of you taking care of the repairs
So, there you go… these are the surprises you need to look for when buying a house. This is why, better get the home appraised before the home inspection, so that you are one step ahead. If you want to buy a home for sale in West Bloomfield, Michigan that falls under your budget and has all the features you need, then visit Homes2MoveYou. Get in touch with a real estate agent and start seeing houses in areas of your liking.
Property inspections can be a confusing step in the real estate buying process. Home buyer emotions tend to be high and there is a lot of information to process. Understanding how inspections function may make it less difficult to deal with when the time comes. The following is advice on interpreting Farmington Hills Michigan inspection reports.
Inspections afford buyers the chance to scrutinize the major systems in a home, analyze more closely the property features, and understand how everything in the property functions. Buyers should select a certified inspector to perform this task. They typically inspect the hardware, utilities, and structure of a home. Inspectors take varying techniques, but most will check the exterior and interior and provide a comprehensive report. Home buyers should stay with the inspector and see as much as possible about the home. If any problems are identified, buyers should view the area in question personally and get a complete understanding of it. Remember that even though inspectors attempt to complete a complete inspection of each area of a property, they cannot view into walls and other unreachable areas, so there are limitations.
When home buyers see a home, they understandably only notice the most visible defects. An experienced inspector will uncover issues that may not be obvious or disclosed and write those problems in a report. Buyers must then form an opinion about the details of the issues. Attending the inspection will, again, help with this.
Suggestions for Renovations
Also included in inspections are basic suggestions for home owners. These are not necessarily critical items, but rather ways to protect against future ones or to improve the benefits of a home. For instance, an inspector may suggest that the grading around the foundation be increased to diminish the likelihood of water entering the foundation.
Interpreting The Report
Buyers must interpret inspection details and distinguish defects from suggestions. They can try to negotiate issues, but it is not prudent to ask sellers to perform upgrades. Properties are generally priced based on age and condition. If upgraded throughout, it would be priced higher than the existing price. For things that are in fact issues, a negotiation process must be completed.
Advice On Interpreting Farmington Hills Michigan Inspection Reports
Speak with your real estate broker for suggestions on how you should proceed. Remember that inspections cover both defects and general tips, and that attempting to demand upgrades can compromise the deal. Inspections are not an opportunity to renegotiate price but rather a chance to resolve serious problems that were not predictable. Consider different strategies and potential results with your real estate agent. This advice on interpreting Farmington Hills Michigan inspection reports was provided by Tom Gilliam at RE/MAX Classic. Contact Tom for more assistance on home inspections and other procedures related to the home buying process.
Oakland County For Sale By Owner Three Things To Know
If you’re looking to sell your Oakland County Mi home in the near future, you may feel inclined to list it as a For Sale By Owner (FSBO) before working with a Realtor. For many, this is considered one good way to cut back on costs and possibly earn a little more profit on the sale.
However, there are certain aspects you may want to consider before going down this path. Statistically, over 80% of FSBO’s end up being listed with a Oakland County Mi Realtor at some point. Therefore, it pays to take the time to fully assess whether or not this is the right plan of action for you to take. As your Oakland County Real Estate agent I truly understand and support your decision to give it a try, but also wanted to share these three key points before putting your Oakland County property on the market as a For Sale By Owner. As your Oakland County Realtor I’m always here to help.
Properly Marketing Your Property
First of all, listing a home for sale can be a very time consuming and difficult process. Unfortunately, this typically is not as easy as posting a sign in the yard and setting up a classified ad in the local newspaper. There is certainly a lot more than meets the eye.
For instance, many FSBO websites will tout that you can obtain a wide exposure to buyers nationally, but this pales in comparison to the results that you can expect from big named sites like Realtor.com, and Homes2MoveYou.com which only agents can post to.
Next, your Oakland County agent will have a lot of expertise with implementing online real estate marketing strategies that will gain you a ton of locally targeted searches. And in fact, nearly 90% of all searches for real estate related inquiries start online.
Oakland County Realtor s will also have a strong network of both agents and buyers that they work with on a regular basis. This is a business where it pays to network. More contacts equals greater exposure.
Asking Price & Showings
For starters, a lot of FSBO’s will start at the wrong asking price. This is by far one of the most important factors that goes into marketing your home, so you want to do this properly off the bat. But, without being fully invested in your local Oakland County market and understanding the current trends, it can be difficult to price the home accurately.
As alluded to in section one, selling a home can be a lot of work. Most individuals these days have to juggle a full time job, family obligations, recreational activities, household chores, etc. Where do you find the time for fully investing into the sale as well?
When the opportunity would arise for interested parties to view your property, you would need to schedule individual showings, open houses, inspectors, appraisers, etc., while also trying to stage and maintain your property’s appearance. Miss out on a good opportunity for matching schedules and you can quickly lose interest.
Negotiations & Contracts
If you get to the point where you negotiate with a Oakland County home buyer, it is much more difficult to handle this aspect without a qualified agent. Selling your home can be a very emotional undertaking, so it is easier to set unrealistic expectations, or to even concede on more than necessary when you don’t have a 3rd party buffer.
During most real estate transactions, both the buyer and seller will typically have a set of concessions and contingencies. For a majority of buyers, they will expect to have some type of a financing, inspection and/or termite contingency.
This is set up for their protection, in order to complete their due diligence on the home before moving forward to closing. If other issues are found, this may even been grounds for further negotiation or eventually walking away from the deal.
Or you will be expected to lower the price, fix the issue or offer a concession on something else in order to alleviate the problem. Likewise, you want to ensure that the buyer is not overstepping their boundaries or that you are pressured into giving away more than is reasonable.
In summary, it’s worth taking the time to carefully consider these 3 areas before making any final decisions. If you still decide to take the FSBO route, we sincerely wish you great success. Also, please feel free to share our information with a friend and to bookmark our page for future reference as well!
My Marketing Plan for Your Oakland County Property
A “Tech Marketing” Plan Of Action For Your Property…
Presented by Tom Gilliam
Once you choose us as your marketing partner, we’ll be performing a lot of the “usual stuff” when it comes to marketing Your Property, such as:
*Adding to the Multiple Listing Service with a great description and lots of photos.
*Syndicating to all the major national property search websites.
*Featuring on our company website & sending an email to our in-house database of buyers…
*The stuff that just about every agent out there is doing… and…
Your Property Will Also Be Shown To A Wide Range Of Potential Buyers Via Some Of The Additional “Advanced” Methods Below
[Very few (if any) of our competitors are actually doing any of these items on a regular basis.]
Consistent Craigslist Ad Posting
We’ll create a well written, compelling, “traffic stopping” Craigslist ad for your property & every 72 hours we’ll make sure it’s reposted so it stays at the top of the search results.
Also, we’ll use special keywords so the listing shows up when people are searching specifically for listings in your neighborhood and surrounding neighborhoods.
Your Property Google Plus Page & Youtube Preroll Ad
In order to get Your Property property lots of targeted on Youtube & Google fast, we’ll create a Google Plus Page and a short video of the property. Then we’ll hire a professional “adwords management company” who will make sure your Video commercial shows to lots of people using Youtube in your area.
Create A “Facebook Pitch Post” on Our Fan Page and Drive LOTS Of Targeted Visitors To The Post
One of the quickest ways that we’ll let 1000′s of people know Your Property is for sale is by running a very targeted Facebook ads promotion directly to a status update about the property.
This status update will appear on our Fan page, so you’ll get the benefit of exposure to our existing audience — plus your property will have a chance to “go viral” as people like and comment on the pictures.
Create A Twitter Profile
We’ll create a Twitter account specifically for Your Property, then we’ll make it follow a bunch of people in the area
so word gets around and people can “retweet” Your Property to their followers.
Pinterest is a great place to put pictures of properties. By sharing a few pics of Your Property to one of our Pinterest Boards, we’ll give lots of local Pinterest users the chance to share info about your property with their friends.
As you probably noticed, in a lot of the steps above we’ll be using the photos of your property to generate some buzz.
So, we’ll want to make sure these photos look great. Once you’ve signed the listing contract and agreed to have us market
Your Property on your behalf, we’ll send out a Professional Photographer to get us the best possible shots for the property…
If you want to sell Your Property, you’ll definitely want to hire a professional who can do the “usual stuff.”
But if you want to Sell As Fast As Possible, For The Highest Possible $$$$ Price,…
… Then we encourage you to partner with us asap, so we can get started performing some
of the more advanced tasks above for your property at Your Property.