There are two major contingencies at the onset of the purchase process in real estate. Knowing when to remove the inspection contingency and loan contingency is important to move the process along to prevent you losing your deposit money.
When you buy a home or sell a home, once the terms are agreed upon and the contract is signed, there is an inspection period where the buyer gets to inspect the home, usually with a professional home inspector, so they understand the house – the good and the bad – and what exactly the are buying. The inspection period typically is about 14 days allowing time for people’s busy schedules. We try our best to shorten that period so that a seller’s home is not off the market should the deal fall through. During this inspection period, the buyer can walk away from the deal with their deposit money returns in most situations.
Lately, people are asking me why they should pick a team (as in Lydia Gable Realty Group) over an individual agent. Both “types” have their advantages but I believe a team approach to real estate will always be the winning side:
- Your lead agent will always be you single point of contact for questions, concerns, to vent, stress or rejoice
- Your lead agent works extremely hard to find you a home or buyers and negotiate the contract
- Once the terms of the contract are finalized, we have a specialist to actually handle the execution of the contract to ensure a seamless and effortless close for you. Our specialist deals with nothing but real estate contracts. That’s her point of focus each and every day for you. She’s seen it all and been through it all so she has the knowledge, skills and contacts to make sure nothing slips through the cracks.
- We have a marketing expert on our team. She is constantly tweaking our marketing to ensure it is leading edge, connecting with target audiences to find you your buyer. So, while I am out showing you homes or pitching your home for sale with other agents and community leaders, she is working at the same time on marketing your home to get it sold and reach new eyes all the time.
- We have multiple agents on our team. We meet weekly as a team and then also individually. We are all very versed and familiar with you and your wants/needs. We brainstorm and work off of each other’s strengths. So if your lead agent gets sick or takes a much needed vacation, your needs are still being met and we are constantly working for you. It’s a huge win for you.
Hope this is helpful information. Please let me know if you have any questions or need additional information. I am here for you and your home always!
So, it’s a quirky real estate market right now. We saw inventory climb about 20% from April to May in our local area, yet the number of homes in escrow was relatively flat (even down a smidge) with March. The good news is, in June, we’ve already seen more homes go into escrow than for all of May and it’s not even mid-June. So the market is picking up; as more homes are coming on the market, more homes are selling. Yay! Right now, June inventory is about the same as in May. Now, here’s the quirky part…the buyers. Maybe not so much quirky as they are being choosy about what they buy. When I talk with real estate colleagues, we are consistently seeing homes that are fully renovated sell quickly and many with multiple offers. Homes that are not updated are sitting. Sorry to report that. We tend to think it’s because most buyers want all the work done so they can just move in and enjoy life. Renovations and dealing with contractors isn’t always easy and so even if the price is lower to “compensate” for it not being renovated, buyers aren’t biting. And those homes are just sitting. We are seeing more buyers and relocations now that school is out and summer is underway. Hoping homes will sell as buyers want to be in and settled before the Fall. Keep your fingers crossed!
Lately, great homes for sale under $1,000,000, here in the Conejo Valley, are going into multiple offers. So how do you win the bid? Watch this quick video to learn some great tips on putting together the best offer package to win your dream home!
Want to know more about the mortgage letter you should submit? Click here.
It’s a HOT Real Estate market right now in the Conejo Valley. Are you ready to be a part of it? Are you thinking of selling or buying? Watch this for some helpful insight and then be sure to watch our other Tuesday Tip video about getting pre-qualified on a loan before shopping for real estate. Selling doesn’t have to be overwhelming. Let’s chat for 15 minutes because you may not need to do as much as you think.