It's no secret the housing market is crazy right now, but things like skipping an inspection or mishandling an estate will cost you dearly. Make sure to avoid these mistakes when buying or selling.
That has rarely been more true than today, as desperate buyers find themselves pushed out of coveted neighborhoods because of a shortage of available houses.An online listing may include professional photography, 3-D floor plans and virtual walk-throughs, but nothing can replace an in-person visit, says Cindy Stanton, an agent with Parks Real Estate in Brentwood, Tenn.Many buyers have been skipping preliminary home inspections to make their offers more enticing to sellers.
What you can’t see can be costly to repair. Inspections have revealed layers of improperly laid roofing materials, faulty foundations, and subpar wiring and plumbing concealed by wood paneling.When buying a weekend retreat or vacation home, most people focus on properties they “dream about” and not the cost of ownership, says Will Rogers, a private wealth adviser with Ameriprise Financial in Augusta, Ga. Buyers don’t want their second home to become a second job, Rogers says.
“They often don’t realize that renovations, repairs and ongoing maintenance costs can drain their bank accounts and sap the fun right out of a pleasure property.”The impact of a mistake isn’t felt just when the owner is alive. If a homeowner doesn’t provide a detailed estate plan—and have clear communications with heirs—disputes over the estate can delay or even scrub a home sale after the owner dies.
“When you’re selling a home, you have to establish some degree of trust between yourself and the buyer. That’s how you get the highest price for your home.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trevor Noah Lists $29.75M Bel-Air Mansion Less Than a Year After Buying ItJust 10 months after picking up a posh mansion in L.A.’s Bel-Air neighborhood, comedian and TV host Trevor Noah wants to sell it for $29.75 million,...
Read more »
Kourtney Kardashian Buys a $10 Million Palm Springs Home and Celebrates With Travis BarkerI want to go to there.
Read more »
The Top Holiday Toys to Buy Before They Sell Out, According to Toy Experts'It might be tempting to wait on those annual Thanksgiving weekend sales but this is not the year to do that,' says Adrienne Appel, SVP of marketing communications at The Toy Association
Read more »
Real Estate newsletter: $1 homes in ItalyAs celebrities such as Ariana Grande and Ben Simmons sell their homes for millions, estates in the Italian countryside are listing for about $1.
Read more »
How to bring sex work out of the shadowsWhereas many rich countries have decriminalised the buying or selling of sex (or both), prostitution remains illegal across America, apart from in a few counties in Nevada
Read more »