Discover the Power of the Flat Rate Realty Group Blog: Your Ultimate Guide

Welcome to Flat Rate Realty Group’s blog, a premier resource tailor-made for homebuyers, sellers, and investors exploring Colorado real estate in Colorado Springs and beyond. Our mission is clear: to empower you with trusted, actionable real estate knowledge that drives confidence and success in your property journey.

With today’s real estate market evolving rapidly, having an expert guide can make all the difference. That’s why our blog combines in-depth market analysis, detailed how-to guides, insider tips, and regional neighborhood insights — all framed by the proven Flat Rate Realty model of exceptional customer service paired with flat-fee savings.

Why Read the Flat Rate Realty Group Blog?

  • Expert Local Insight: We live and breathe Colorado real estate — sharing first-hand neighborhood trends, market stats, and investment opportunities.
  • Cost-Saving Strategies: Learn how our flat rate commissions save typical sellers about $10,000 in real estate fees while receiving full professional services.
  • Comprehensive Guides: Step-by-step instructions for buying, selling, negotiating, and financing homes or land in Colorado efficiently and stress-free.
  • Buyer Rebates and Incentives: Exclusive details on programs offering rebates up to $3,500 for buyers who list through Flat Rate Realty.
  • Market Updates & News: Stay current with regional price trends, inventory updates, and economic drivers impacting Colorado real estate.
  • Real Client Stories: Authentic testimonials showcasing how we’ve helped buyers and sellers save money and achieve goals.

What You Will Find in Our Blogs

Our blog covers critical topics, including but not limited to:

  • Colorado City and Neighborhood Guides: Detailed posts on communities like Colorado Springs, Castle Rock, and more.
  • Real Estate Market Trends: Analysis supported by data from sources such as the Colorado Association of Realtors.
  • How-To Guides: From preparing your home to sell, home inspections, appraisal tips, to navigating loan approvals.
  • Financial Tips: Optimizing buyer credits, financing options, costs breakdowns, and tax considerations.
  • Flat Rate Realty Service Deep Dives: Understanding our unique flat-fee approach and how it benefits you directly.

Step-by-Step: How to Maximize Benefits Using Our Blog

  1. Identify Your Goals: Browse posts focused on either buying or selling to hone in on your current needs.
  2. Leverage Neighborhood Links: Access the city guides for detailed local insights before home search.
  3. Engage with Market Trends: Use our data-supported posts to time your purchase or sale advantageously.
  4. Apply Financial Tips: Make informed decisions on budgeting and rebate opportunities informed by our expert content.
  5. Follow Our How-To Guides: Prepare yourself for each transaction step with checklists, timelines, and best practices.
  6. Contact Our Team: Use insights gained to approach Flat Rate Realty agents ready to support your unique real estate journey.

Key Benefits of Using Our Blog as a Resource

  • Unique Flat-Fee Savings explained and illustrated
  • Insider market knowledge specific to Colorado Springs & Colorado’s evolving landscape
  • Actionable advice for professionals and first-timers alike
  • Direct access to trusted agents and affiliate services
  • Regular updates and fresh perspectives keep your knowledge current

Client Voices: Success Stories From the Flat Rate Realty Group Family

"Had the absolute pleasure of buying a home with Frank. We not only got our number 1 choice but also got it for over $10,000 cheaper than it was listed for... He is one of the best Real Estate Brokers in Colorado Springs!" – Ross Keps
"Frank and his team sold our house above market value while charging a fraction of traditional commissions. Their personal dedication and expertise outshone all others." – David Goscha

This is the kind of personalized service and savings you can expect, and our blog is the first step in learning how to replicate this success.

Comparison: Flat Rate Realty Blog vs. Other Real Estate Blogs

Feature Flat Rate Realty Blog Typical Real Estate Blogs
Local Colorado Focus Deeply specialized Broad/general
Flat-Fee Real Estate Insights Extensive, practical guides Minimal or none
Buyer Rebate Information Detailed and transparent Rarely mentioned
Regular Market Updates Data-driven, timely Occasional, inconsistent
Client Testimonials & Case Studies Featured frequently Less personalized

Access These Premium Tools & Resources

Ready to start your real estate journey with trusted Flat Rate Realty experts? Contact us through this link or email Homes@FlatRateRealtyGroup.com for personal assistance today.

Summary: Why Our Blog is Your Go-To Colorado Real Estate Resource

  • Unrivaled local expertise: Unpack Colorado Springs and regional market trends.
  • Actionable insights: Step-by-step guides you can implement immediately.
  • Cost-saving strategies: Learn how to maximize equity with our flat-rate commission model.
  • Exclusive rebate info: Understand and access buyer rebates and incentives.
  • Trustworthy & personable: We are Colorado real estate agents with your best interests at heart.

Explore our full blog archive and start turning information into successful real estate decisions: Flat Rate Realty Group Blog

 

May 25, 2018

What To Do When Your Home Isn't Selling

 

When you market your home, the procedure is nearly like going to a job interview.  Selling a home involves presentation, which is one of the important factors that govern the outcome.  Although this may sound a little weird, a presentation is customs in the world of real estate.  Today’s market buyers look for good presentation – many centering their final decisions on it.

In case the property you are selling comes with a garage, you’ll need to go through your garage before you sell your home.  Odds are that you store things in your garage, which can simply pile up over time before you know it.  If your garage is in an untidy condition, you’ll clearly want to clean it up.  Buyers look for properties that are in perfect condition, and anything less than perfect will look bad in the eyes of the buyer.

Several homes have some really outstanding features inside of them.  You should at all times do your best to highlight the best features of your home, rather than just expecting that the buyer knows what they are.  The perfect way to bring out the best features of your home is using the proper lighting.  If your home is clean, you can use lighting to bring out the best features in your home, and make sure that they stand out to the buyer.

When a possible buyer first pulls up to your home; the first thing he will see is your lawn.  If your lawn is trimmed and well taken care of, he will get a good impression right at the start. But if your lawn is a wreck, instantly he may pull away.  To give the best impression to the buyer, you should put some idea into how things look.  You can plant flowers around the walkway and all over the yard, which will look good to a potential buyer.

You should also make sure that the entrance into your home is a positive as well.  The front entry door should be in good shape, as well as the entry area into the home.  You can add some plants, paintings, and carpets to make sure that your buyer gets a good first impression.  When the buyer walks through the front door into your home, you should ensure that the view he or she uses is a good one.  Your main goal when showing your home is to ensure that the buyer is happy.

Remember that selling your home may take some time. Nowadays, homes can sit on the market for months at a time before they really sell.  If you are having issues selling your home, you can always reduce the price or just go back to the basics.  Eventually, you will sell your home – although it may take more time than you think.

 

Posted in Sellers Resources
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May 24, 2018

What you Can Do in the Current Real Estate Market

 

As the real estate markets continue to drop around the country, several homeowners are questioning what they can do to defend themselves and the investment they have made in their home. There are really numerous different ways you can take to take to ensure you stay ahead of the softening real estate market.

One of the very first steps that should be taken is to check with if your city or county property tax office to study your current tax assessment. This will tell you what the county or city-states your home is actually worth. You should then compare this rate to what your home is currently worth based on current market conditions. It is not rare for homeowners in many states, like California, to find out that they are paying more money in property taxes than they should be paying based on the worth of their home in the present market.

Homeowners in some states are really paying up to 40% over what they should pay. If you are not sure of your home’s current value in the existing market, it is also a good idea to have your home appraised to determine its current value. Taking both of these steps will give you a realistic idea of the value of your home in the current market and ensure that you are not paying more money in taxes than you should be.

 If you do have an adjustable rate mortgage it is certainly worth it to consider refinancing your mortgage to a fixed rate mortgage. Before you actually refinance; however, there are several steps which you should take first. Start by checking your existing mortgage documents to determine if you will be punished for paying off the existing loan quick. While you will be taking on a new loan, your current loan will be paid off when you refinance it and this could lead you to penalties if such a clause exists in your mortgage documents.

In some cases, you may discover that you actually owe more on your home than it is worth. This is actually not rare among homeowners who took out exotic mortgage loans a few years ago when prices were increasing rapidly and the market was a hot cake. However, today, this can result in a bit of shock among homeowners who are facing big mortgage payments on homes that have fallen rapidly in value. While it is expected that the market will start to stabilize sometime next year, you will need to give some careful thinking to whether it would be in your best financial interest to just walk away from such a situation and try to start fresh.

Additionally, you need to consider how long you plan to remain in the home and balance out that time in comparison to the number of closing costs you will need to pay when you refinance your home. While several mortgage companies promote ‘no cost’ refinance loans you should know if such loans rarely, if ever, exist. The costs for refinancing your loan are usually financed in with the loan under this type of plan. This means that instead of paying the costs for the loan up front you will be paying interest on them throughout the duration of the loan. In addition, it is important to research any mortgage company you consider to ensure there have been no complaints filed against them before you refinance your mortgage.

 If you plan to remain in your home, it is also a good idea to check your homeowner’s insurance policy to be certain that it is up to date. This can prove to be critical in the event you suffer any type of loss on your home in the future. If you live in an area that is susceptible to hurricane or storm damage it is especially important to make sure that your policy accurately reflects your home in its current state.

 

 

Posted in Real Estate News
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May 23, 2018

What You Should Know About HUD Properties

 

HUD homes are available everywhere in the United States, and it is a great investment for anyone that is interested. These properties sometimes get a bad rap for being in bad condition, but in all reality, they are not any worse than other foreclosed homes that are out there. Just like anything else, there are few HUD properties that are in great condition, and some that are just in need of a few repairs. It is simply a matter of how well the past owner cared for the home.

HUD homes are properties that had loans which were covered by the Department of Housing and Urban Development. But when the owner fails to live up to the financial responsibilities that are anticipated, the bank then takes over the home and it becomes a HUD property. At this time, it is the responsibility of the Department of Housing and Urban Development to repay the lender any money that they lost on the deal. So as you can see, the Department of Housing and Urban Development sticks their neck on the line when they insure the loans on these homes; if the owner does not pay, they are stuck with owing money to the lender.

Investors are particularly fond of HUD properties because they are a great way to make them a quick profit. The way this works is quite simple. Since HUD properties can be bought at a great discount, investors will purchase as many as they can afford. They will then fix these homes up just enough so that they can sell them back to the public. But the catch is that they sell them for the market value. This means that their profit equals the difference between the market value cost and how much they actually bought the home for. In many cases, this can be tens of thousands of dollars. By doing this on several houses a month, HUD property investors can make a lot of money.

In case you are not an investor and simply in need of a new home, you may also want to try HUD properties. Even if you may have to put some work into fixing the home, you will save a lot of money on the original cost. With the money that you save you will simply be able to make the necessary repairs.

HUD properties can be found all over the United States and provide great buys to interested parties.

 

Posted in Buyers Resources
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May 22, 2018

What You Should Know About Foreclosure Investing

 

If you are attracted to get involved in the real estate business you should look into foreclosure investing. Several individuals shun this type of investing due to the fact that they are not aware of the facts that go along with it. By just learning about foreclosure investing, you will be able to join this business in no time at all. You can also red about Foreclosure Houses.

 

The primary thing that you need to understand about foreclosure investing is who you will be buying the house from. Foreclosed homes are houses that the bank has taken over because the past owner failed to pay his or her mortgage. The bank then needs to sell the property back to the public when this happens, so that they can begin collecting profit again. The longer that the bank sits on a foreclosed home, the more money they are going to lose.

Being that banks are always in a hurry to sell properties back to the public, the buyer definitely has a huge advantage; this is what makes foreclosure investing so profitable for thousands of people every year.

When you are considering getting into foreclosure investing you should understand that you will be able to find houses that are really discounted. It is not rare for a buyer to be able to find a property for up to 40% off of the market value cost. By buying properties at this price and then selling them back to the public, you can make a lot of profit.

Another reason that foreclosure investing is so popular is that there are a lot of these properties to go around. In almost every city in the United States, there are foreclosure properties available for purchase. The only thing that you have to do when getting into foreclosure investing is finding the homes that you want, and decide how much you are willing to pay for them. This can be done by simply scouring your newspaper, or joining a service that will supply you with homes in your area.

Generally, foreclosure investing is a big industry at the present-day. There are individuals all over the country that have turned their love of foreclosure investing into a full-time job. If your intent is getting involved with the real estate industry, there is no better approach to do it than by investing in foreclosed houses.

 

 

Posted in Buyers Resources
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May 21, 2018

What to look for in Moving Quotes?

 

There are several things that can affect the total charges on relocation, whether intrastate or interstate. Some apply to both; some are unique to the type of the move.

Here is what you need to watch for:

1. Real weight of the shipment or labor time- The final charges on inter-state relocation will usually be based on the real weight of the shipment, if it is less or more than the estimated weight. The quote that you get should be based on an on-site estimate (unless put aside) or a list of items that you wish to move. Anything that will be added or taken off the list will affect the price. The final charges will be based on the actual weight of the items to be shipped. Be sure to check what the charge per any additional pound is, as it may be different than the basic charge the quote is calculated by.

On intrastate relocations, the charge is usually based on the actual time of the move with a specified minimum of hours and a travel time or truck fee that covers the driving time from the moving company’s facility to your origin address and back. Check what the minimum charge is for hours if the travel time is fixed or actual, what would be the charge per hour over the estimated time and what increments of time you are charged by. You may be offered a flat fee for the move, usually based on an inventory list. Make sure the quote specifically indicates that the charge is a flat fee and find out what the charge per any additional item would be.

2. Packing materials- You will usually have two options for packing:

Full packing- The carrier (moving company) packs everything for you and is responsible to provide all the necessary packing materials. All the packing materials and packing labor should be included in the price. Make sure that the charge is not calculated separately for the packing charges rather than a price per pound (interstate) or price per hour (intrastate), as that means that your cost will depend on the actual use of packing materials.

No packing- You are expected to pack everything yourself and the mover will usually only provide moving pads/blankets to protect your furniture. Some companies will require specific packing for certain items, such as shrink wrap for fabric, bubble for glass etc. some movers will not accept any container packing other than boxes (such as bags, totes, suitcases or plastic bins). Always be sure to read through your quotes and see if any requirements are specified as you will be charged extra by the movers for re-packing those items and for the packing materials, they will provide.

3. Extra services

Such as additional insurance, storage, extra labor, taxes, fuel surcharges and processing fees. Additional services such as additional insurance coverage and storage will be added to your total cost and are probably very clear and acceptable to you. However, movers may charge you extra for stairs, elevators, bulky items, additional stops, hoisting of furniture, disassembly and reassembly of furniture etc. Always be sure to check if your quote includes any mentioning of these charges and if not be sure to get that in writing from your mover as part of your quote. In addition, other taxes and charges may apply and will normally be calculated as a percentage of your total costs, such as taxes, fuel surcharges or processing fees for the use of credit cards to pay for your move. These will not always appear in your quote but should be mentioned under the terms and conditions or explanation of your quote/services. Again, be sure to check if these are added to your price.

In summary, movers may pretty much charge you for anything. Take the time to read and understand your quote, from start to finish, including all the small fine print. If anything is unclear or not specified, be sure to check with your mover.

 

Posted in Real Estate News
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May 20, 2018

What to Search for in an Apartment

 

Looking for an apartment to rent is a very time consuming though important endeavor. It may look like an overwhelming task at first, but if one takes the time to be educated on the apartment options, the understanding will be very more gratifying.

Several people fail to thoroughly check apartments, and have a good idea of what they want. Consequently, the apartment shopping experience can regularly be depressing. Searching for certain important elements in an apartment can give higher satisfaction.

When searching for an apartment, it is always good to have a clue of what you want. Trying to figure out certain price ranges before you start searching for apartments will save you so much time.

Also, consider what type of apartment you would be interested in. How many bedrooms and indoor square footage an apartment has is very vital to many people. Also, try to get at least some kind of idea of what kind of neighborhood you are looking for. When searching for an apartment, you want something that will fit your needs.

 

Also, think about the location. Location is very important because of schools, jobs, and neighbors. Some apartments may seem very interesting but are located in areas that are inconvenient, or in not too good neighborhoods. Some areas have unnecessary noise and very high crime rates.

Good apartments will be far removed from these unfriendly elements. Unfortunately, the more costly apartments are normally the apartments in good locations. This is an unavoidable fact, and should, therefore, be taken into consideration when searching for an apartment. Don’t let prices scare you into renting an apartment in a bad neighborhood.

Consider the owner and manager of the apartments. Find out if they have good reputations. The best managers are there for their tenants and are always willing to help. The best owners charge a fair rent and avoid raising the rent. Some of the best owners will offer the best deals on appliances and services. When visiting an apartment, don’t be afraid to ask tenants what they think about the landlord and owner. If all of the reviews are positive, then you may have found the apartment for you.

Look for apartments that have similar neighbors. If you are a bachelor, then you might enjoy having neighbors who are single. If you have children, then it is always a good idea to search for a family-oriented apartment complex. In case you live near people with similar backgrounds, you are more expected to form friendships, tolerate less conflict, and have a more satisfying living experience.

Lastly, consider the look of the apartment. Some apartments look boring, dirty and unappealing. A good owner will take pride in his or her apartment complex. The top apartment complexes have a fine surrounding, trees, paint jobs, and many other appealing elements. Many people want to be satisfied with where they live. Looking for a well-run, attractive apartment is always a good idea.

There are many qualities to look for in an apartment. Consider location, cost, and the manager and owner reputation. Don’t be deceived by low-cost apartments, or special deals. Having a clear idea of what you are looking for, and how you will get it will make your apartment search not only more effective but also more enjoyable.

 

Posted in Buyers Resources
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May 19, 2018

What To Consider When Choosing a Majorca Property

 

There are a great number of towns and villages on the island in which to find your dream Majorca property, however, most of the island doesn’t come cheap!

Where you choose to buy your Majorca property will depend on a number of factors. First and foremost is your budget – there’s no point in looking at properties which cost €1 million if you only have a budget of €100,000 although that’s not to say it wouldn’t be fun looking at them anyway! It’s always easier to get a little carried away when you’re looking at properties in a foreign country, but you really must set yourself a budget and stick to it, after all, if you have to secure a mortgage you won’t be offered one if the figures don’t stack up.

Your budget will determine to a large extent where exactly you can buy a Majorca property. The island is becoming more and more expensive as it develops from a typical tourist destination into a chic and classy place to own a second home and as such there are many ‘exclusive’ villages and towns around the island now. Places like Deia and Andratx are highly sought after, so with a limited budget, it’s unlikely that you could buy here.

There are still towns in which you can pick up an affordable Majorca property too though, and with a little research, you can determine whether these might be the right places for you.

An important factor to consider is who are you buying this Majorca property for? If you’re solely looking for an investment, a place to rent out, your requirements are going to be quite different to if you’re looking for a holiday home for yourself and your family.

Even with an investment property, there are still many things to consider – location is very important: many people will be visiting Majorca for the sun and the sea so you may want a Majorca property on the coast. On the other hand, Majorca has some stunning mountain scenery too and there will be demand for a quiet and peaceful retreat up in the mountains. A place like this may command a higher weekly rental rate, but could possibly be a little more difficult to rent out if it’s very rural.

 

Posted in Real Estate News
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May 18, 2018

What to Expect At a Foreclosure Auction

 

If you are an investor that would like to get into buying foreclosed houses for personal use or just to flip the property or if you are having your home foreclosed on, you should understand what to expect at auction for foreclosure. Of course, the actual steps that will be taken can vary a bit from state to state and from house to house, but it’s good to know what you will be getting into when you go to a foreclosure auction. Foreclosure auctions can be interesting, even entertaining, however knowing what to expect will assist you to make the most of the experience, in case you are a homeowner or an investor that is trying to get your house back.

Before the Auction

You’ll likely find out about the foreclosure auction in a local newspaper and on the flier may be information to pre-qualify for bidding. This will allow you to put down a deposit so that the auctioneer knows that you are a serious bidder and can fulfill your bid if you are the winning bidder. Being pre-qualified just sort of speeds up the process so that you don’t have to mess around with the deposit on the day of the auction.

During this time you should also do some research on the house by looking into any liens that may be against the property, how much the property is worth, how much it has appreciated in the last few years, as well as property values in the area. If the home looks as though it will need some repairs, you should consider this as well when trying to come up with how much you will be willing to pay for the house. Without this research, no amount of knowledge about what goes on at a foreclosure option will help you because you won’t know where to start when it comes to actually making a good bid.

What Happens At the Auction?

The auction will typically start with the auctioneer reading legal notices as well as a legal description of the property. The auctioneer will usually then begins taking bids on the property. If the auctioneer has pre-qualified bidders the process is more simplified, if not, each time a bid is made the auctioneer will then ask for the bidder's deposit check, which is usually right around $5,000 for residential auctions.

After each bid, the auctioneer will try to solicit bids for higher amounts. Each auction is different, but the auction increments usually are set by the auctioneer and may be by $100, $500, or $1,000 per bid. The auctioneer will continue to solicit bids by this increment until it is clear that the highest bid has been reached. Then, the auctioneer will broadcast, “Going once, going twice, three times, then sold!” showing that the auction has ended and the property has been sold to the highest bidder.

Once the bidding has ended a foreclosure a purchase and deed papers will be drawn up and legalized by the new owner or purchaser and the mortgage holder. A grace will likely be given to allow the purchaser to find financing or to come up with the funds to cover the full amount of the bid. This grace period is usually 30 days unless the purchaser and the mortgage holder agree to other terms. After the grace period has elapsed a closing will take place so that the new owner can officially take the title of the property.

What Happens, Now?

The purchaser can do what he or she intended to do with the property, whether it is to move into the home or to sell it for full g value. The money paid by the purchaser will be distributed in order of priority, first of which would be taxed. After taxes, money will be paid on the mortgage, then the second and third mortgage if applicable. If there is still money after paying these debts, remaining money will be paid to lien holders and creditors. There is a very slim chance that there will be money left over after all of the debts are paid, if this is the case then the monies will be paid to the former homeowner.

What about the Original Owner?

The original owner will often be at the auction so that they can bid on their home, and this is legal as long as they have the deposit required. If the owner of the home that has been foreclosed does bid on the home they must remember that the deposit is not refundable and the deposit assumes that they will be able to finance the home within the grace period. Owners must also remember that if they buy the property back old debts may merge and become reinstated such as second and third mortgages that became void when the first mortgage foreclosed on the property unless one has filed bankruptcy and is truly free and clear of these debts. Owners will often drum up the funds to make the deposit so that they can have another 30 days to try to save their home. Owners may not or may be successful in their efforts to save their home at a foreclosure auction.

As you can see, there are many things that go into a foreclosure auction, but none of them are all that hard to comprehend, but understanding them makes the auction more fun. The auction itself is not all that complicated, but it can be very fast paced. At some foreclosure auctions, there are a lot of people, at others, there are only a few because of the location or just the debts attached to the property, or even the state of the property.

If you are serious about the property you should pay close attention when bidding starts so that you are sure that you can get your bid in when you feel it’s time so that you have the best chance of being the top bidder.

 

Posted in Buyers Resources
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May 17, 2018

What To Do On Showing Day

 

The truth is, the finest thing for you to do on the day of the show is to move out and not be home. That's correct. Your Realtor® is the most qualified person to show your home. While you may believe you know the home well, it is the Realtor®'s job to understand the client well, and to know what they are looking for in a home. So on the days, your home is being shown, stay back and relax at a friend’s, go for a drive and a shopping trip, or whatever it takes to get you out of the house.

It's really before the showing day that your work comes in. One of these is to share all you know about your home with your Realtor®. The more they know about the home, the better they can sell it. Don't hide your home's flaws from the Realtor®. Sooner or later these will come up anyway. It's best if your Realtor® knows everything, the good and the bad. This way they can effectively understate the bad and promote the good. Alternatively, they may even be able to provide creative solutions to what you perceive as problems with the home or know about a niche market of buyers that actually wants those features in a home.

The other major job for you is to clean up. Making sure your home is clean is very important. Clean better than you normally would. I'm not implying you are a sloppy cleaner, it's just that a home is shown for sale needs to be completely clean, top to bottom, with no corner or crevice forgotten. Don't forget about cupboards or closets, as buyers almost always open these up to have a look. Consider getting drapes and carpets professionally cleaned.

Along with cleaning comes de-cluttering. It is imperative that you remove clutter from your home. More than tidying up, this implies maybe even getting rid of some of your decorations. If you are the type to have lots of little figurines or a vase collection, choose maybe one, then put the rest in storage. Since spare rooms and storage spaces can sometimes be key selling features, so don't just cram everything in there. Consider renting storage space. Since you will be moving anyway, having some of your things packed up before the house even sells could make things a lot easier when it's actually time to move.

Hopefully, these tips will help you have a successful showing, and help your home sell fast.

 

Posted in Sellers Resources
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May 16, 2018

What To Do If A Buyer Has To Sell His House First

 

Imagine this: It’s been a few weeks since you first put out an advertisement in your house. You’ve already entertained so many potential buyers; however, no one has yet signified an interest to buy your home.
Then, just when you least expect it, you receive word from an agent that their client likes your home and is planning to buy it. Unfortunately, there is a catch: apparently, this buyer is part of a chain, and before he can place a deposit on your home, he has to sell his own property first. If you’re faced with a situation such as this, what would you do?

There are several courses of action you, as a home seller, can take. But, to protect your interest, it would be wise to quietly instruct the buyer that you cannot put a hold on your property until he has sold his house. Encourage him, however, that if your home is still on the market by the time his unit has been sold, nothing would prevent you from doing business with him.

Many buyers would be eager to offer you with contingent offers but it may be a drawback you. Once you accept a contingent offer, you will have to advise your agent (or the real estate agents of other buyers) about this.

Buyers or agents who are aware that someone else has “laid claim” to the property may have second thoughts about even considering your home. You may not get back up offers from other potential buyers as they will think that your home has already been “reserved”.

In addition, buyers who can manage to pay to purchase a home outright would not want to wait till the 1st buyer defaults on the contingent offer. They would rather spend the time wasted waiting for the answer, looking for other available homes.

In any case, if you decide to accept the contingent offer, do not take your house off the market. Remember that you are unsure of the buyer’s capability to make good on his promise. You just have to inform your potential buyers of your outstanding agreement. If the buyer you are talking to is serious about purchasing your home, this pending contract will not deter him from making an offer.

 

Posted in Buyers Resources
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