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Are seller-paid points deductible? |
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Are seller-paid points deductible?
As of Jan. 1, 1991, homeowners have been able to deduct points paid by the seller. This deduction previously was reserved only for points actually paid by the buyer.
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Last Updated ( Wednesday, 30 July 2008 )
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tips for negotiation |
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What are some tips on negotiation?
The more you know about a seller's motivation, the stronger a negotiating position you are in. For example, seller who must move quickly due to a job transfer may be amenable to a lower price with a speedy escrow. Other so-called "motivated sellers" include people going through a divorce or who have already purchased another home.
Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for.
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Last Updated ( Wednesday, 30 July 2008 )
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what's seller financing? |
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What is seller financing?
Seller financing is when a seller helps to finance a real estate transaction by taking back a second note or even financing the entire purchase if the seller owns the home free and clear. Usually sellers do this when a buyer has difficulty qualifying for a conventional loan or meeting the purchase price.
Seller financing differs from a traditional loan because the seller does not give the buyer cash to complete the purchase, as does a lender.
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Last Updated ( Wednesday, 30 July 2008 )
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two most important factors when selling a home |
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What are the two most important factors when selling a home?
Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home's worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer.
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Last Updated ( Wednesday, 30 July 2008 )
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list vs. sales prices |
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What is the difference between list and sales prices?
The list price is how much a Charleston, SC house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions.
If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property's listing period.
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Last Updated ( Wednesday, 30 July 2008 )
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How does someone sell a slow mover? |
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How does someone sell a slow mover?
Even in a down market, real estate experts say that price and condition are the two most important factors in selling a home.
If you are selling in a slow market, your first step would be to lower your price. Also, go through the Charleston, SC house and see if there are cosmetic defects that you missed and can be repaired.
Secondly, you need to make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage, and listings on the local multiple listing service (MLS) and on the Internet.
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Last Updated ( Wednesday, 30 July 2008 )
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How is the price set? |
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How is the price set?
It's very important to price your Charleston, SC home according to current market conditions. Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood.
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Last Updated ( Wednesday, 30 July 2008 )
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low offers info |
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Is a low offer a good idea?
While your low offer in a normal market might be rejected immediately, in a buyer's market a motivated seller will either accept or make a counteroffer.
Full-price offers or above are more likely to be accepted by the seller. But there are other considerations involved:
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Last Updated ( Wednesday, 30 July 2008 )
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how to get financing for foreclosures |
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How do you get financing for a foreclosure?
One reason there are few bidders at foreclosure sales is that it is next to impossible to get financing for such a property. You generally need to show up with cash and lots of it, or a line of credit with your bank upon which you can draw cashier's checks.
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Last Updated ( Wednesday, 30 July 2008 )
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closing costs - who pays? |
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Who pays the closing costs?
Closing costs are either paid by the home seller or home buyer. It often depends on local custom and what the buyer or seller negotiates.
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Last Updated ( Wednesday, 30 July 2008 )
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Why do I need a title report? |
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Why do I need a title report?
As much as you as a buyer may want to believe that the Charleston, SC home you have found is perfect, a clear title report ensures there are no liens placed against the prior owners or any documents that will restrict your use of the property.
A preliminary title report provides you with an opportunity to review any impediment that would prevent clear title from passing to you.
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Last Updated ( Wednesday, 30 July 2008 )
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What contingencies should be put in an offer? |
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What contingencies should be put in an offer?
Most offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.
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Last Updated ( Wednesday, 30 July 2008 )
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standard contingencies |
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What are the standard contingencies?
Most purchase offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.
As a buyer, you could forfeit your deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.
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Last Updated ( Wednesday, 30 July 2008 )
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whose obligation is it to disclose info about property? |
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Whose obligation is it to disclose pertinent information about a Charleston, SC property?
In most states, it is the seller, but obligations to disclose information about a property vary.
Under the strictest laws, you and your agent, if you have one, are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to you.
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Last Updated ( Wednesday, 30 July 2008 )
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sellers disclosing terms of other offers |
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Do sellers have to disclose the terms of other offers?
Sellers are not legally obligated to disclose the terms of other offers to prospective buyers.
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Last Updated ( Wednesday, 30 July 2008 )
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Sellers 
