Harold (Buddy) Pope's Blog
Contingencies on a contract to buy a home are there to protect both the buyer and the seller. The contingencies give the buyer the right to back out of the contract if any of these contingencies aren’t met. There are many reasons that buyers back out of deals including financial issues and problems with the home. Below, you’ll find a break down of some of the most common contingencies and what they mean for you as a buyer or a seller.
Most home contracts come with what’s called a financing contingency. This gives you the ability to walk away from a deal if the financing falls through when trying to buy a home. Usually this is due to a credit reason or some other financial reason. You can’t rely on financial cracks to help you to back out of a deal on a home. Lenders will only deny a loan for real financial reasons. There’s no way to ask a lender to lie for you so you can get out of buying a home! This is why you need to make your decision about a home purchase wisely.
This gives the buyer the right to have an inspection on the home within a certain time frame which is usually 5-7 days. If something is really off with the inspection that you as a buyer don’t feel comfortable with, you have the right to back out of a deal without repercussions. While seller disclosures are important, the seller can’t disclose what they don’t know about. That’s why the home inspection is so important. The seller’s disclosure cannot protect you from hidden damages that may cost half of a home’s worth to repair.
If homes are selling fast and you want some secure way to back out of a deal you should consider an appraisal contingency. If the home you want to purchase doesn’t appraise at a price high enough to meet your mortgage requirements, you have a legal way to back out of the deal. For example, if you put down 20 percent of the purchase price of a home and the home doesn't appraise for the value of that purchase price, you’d need to come up with the remainder of the money in cash. An appraisal contingency protects you from having to face this. You’ll still need to have a home inspection done on the home to search for any problems, but an appraisal contingency protects you from any problems with financing and your own disposable amount of cash that could arise due to a home appraising low.
While contingencies aren’t necessary as a homebuyer, they’re highly recommended. Without contingencies, you could be left with a number of expenses such as damages that are extremely costly to fix.
Moving to a new home is difficult for everyone. Children, pets, not even you are immune to the stresses of adjusting to a new life. But moving can also be a great experience. They can help a family grow closer together, discover new interests and hobbies, and create new memories together.
In this article, we’re going to give you some moving tips that will help you and your family make the most of your decision to relocate, and maybe give you a new optimism to endure the stressful process of moving.
Making a move easier on your pets
When our pets are sick or upset it can be heartbreaking for us. We can’t use our words to explain that everything will be okay. Generally, pets are resilient and can often adapt easily to a new environment. But that doesn’t mean we shouldn’t try to help make it easier for them.
To introduce your pet to their new home, take them for a visit before the move, if possible. Let them sniff around for a while and get comfortable with the place, assuring them that there is no danger there.
On moving day, have your pet stay with a relative or pet-sitter for the day so they don’t get lost or trampled on during the hectic moving process.
Once you’re all moved in, let your pet explore the new home freely, making sure their toys, bedding, or litter box are all within their reach.
Helping kids cope with a move
A move can be particularly stressful for children. Oftentimes moving homes means changing schools, leaving old friends and making new ones.
Before you even begin looking at homes, try to get your child involved in the process so they don’t feel powerless. Encourage them by showing them fun things to do in their new town, like nice parks or their favorite stores. Get them involved in planning out their new room, like how it will be painted and decorated.
In terms of school, try to time your move so that your child can make some friends before the school year begins. Plus, explain to them how easy it is to stay in touch with old friends through email, Facebook, or whatever method is appropriate for their age. Find out if there are children in your new neighborhood, or a club or sport that your child can join to help them make new friends.
Don’t neglect your own anxiety
While it’s important to help our family deal with the new move, it’s also vital to take care of our own needs. Make sure you spend time on your own interests and try to avoid isolating yourself from others during this stressful time.
If you’re starting a new job, take note of whether or not you’re bringing that stress home with you and try to set aside time for yourself to do the things you like to help you unwind. If you find yourself feeling overwhelmed, be sure to reach out to your spouse, a friend, and/or a counselor.
If you and your family take the time to help each other, there’s no reason you shouldn’t have a fun move and enjoy your new home together.
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Attention that you give to your home's exterior is going to show, and not just from the curb. The interior of your home can reflect what's going on outside your house.An example of this are water stains that can build on your walls if your roof leaks.
Keeping the value of your home's exterior high
Cracks in your house's structure and windows invites more than cold air inside,potentially driving up your utility bills. Cracks in the your house's exterior can serve as entryways for pests, which, in turn, can cause damage to flooring, walls, doorways and furniture.
One of the biggest home exterior concerns is your roof. Maintenance tips for your roof include removing heavy snow, accumulating leaves and other debris from your roof and gutters. Also, remove broken tree limbs from your house. If you cut down dead trees, you could prevent major damages from happening to your house during a violent storm.
To maintain your roof, inspect and replace curled or missing roof tiles. Also, get discolored tiles inspected, as this could be a sign of water damage. Contact your local utility company if utility wires are hanging too close to your roof.
More ways to improve your home's exterior
Wash and dry porch furniture and wood porch floorboards. Tighten or replace loose porch floorboards. Signs that wood floorboards need to be replaced include discolored, spotted or soft wood.
Similar to inspecting and caring for porch floorboards, check your driveway. Look for cracks, discoloration and holes. If your driveway is made of stones, notice if stones are missing or discolored. It's easier and less costly to replace one to three stones, floorboards or concrete pieces than it is to redo your entire porch or driveway.
At your actual house, seal up cracks in windows and doorways. Depending on the design of your house, a simple white caulk may work well. Over time, you may need to replace windowsills and exterior window trimming. That or you may simply need to repaint window trimming.
Regular care to the exterior of your house pays off
In addition to cutting down dead trees, keep bushes and shrubs evenly trimmed. If you've ever seen a yard decorated with evenly trimmed hedges or bushes, you know how much neatly trimmed greenery adds to a property.
Another maintenance step that you'll have to take involves your actual lawn. Not only will you need to repaint flowers, including annuals, after you've lived at your home for so many years, you may also need to re-sod your lawn. Give yourself at least two weekends to finish this work if you have a large front and back yard. By regularly mowing and treating your front and back lawn, you keep your house appealing. You also keep your lawn healthy.
The exterior of your home influences your overall appreciation for your house. Lots of weeds in your front or back lawn, a deteriorating roof and dirty siding can be a turn off. Regular maintenance helps you to get and keep a healthy lawn. It also strengthens your walkway, driveway, porch furniture and other exterior parts of your home.
When it comes to buying a house, there is no need to deal with a stubborn home seller. However, you may encounter a stubborn home seller, regardless of how well you prepare for your homebuying journey. And if you're not careful, a stubborn home seller may cause you to miss out on an opportunity to purchase your ideal residence.
Don't let a stubborn home seller get the best of you. Instead, use these tips to ensure you can handle negotiations with a stubborn home seller like a pro.
1. Don't Panic
If you are forced to deal with a stubborn home seller, there's no need to get discouraged. Conversely, consider the property seller's perspective, and you may be able to get the best results out of a tough situation.
Open the lines of communication with a home seller – you'll be glad you did. If you maintain open communication, you may be able to find out the root cause of a home seller's stubbornness and plan accordingly.
Also, don't panic if a home seller fails to communicate with you, and try to avoid assumptions at all costs. By doing so, you'll be able to remain calm, cool and collected and maintain your patience as you try to figure out the best way to acquire your dream house.
2. Be Prepared for the Best- and Worst-Case Scenarios
In the best-case scenario, a stubborn home seller will explain his or her demands. Then, you can negotiate with a home seller, find common ground with him or her and work toward finalizing a home purchase agreement.
On the other hand, it is important to understand the worst-case scenario as well.
In the worst-case scenario, you and a home seller may be unable to find common ground. And if this occurs, you should be prepared to walk away from a potential homebuying negotiation and restart your search for the perfect residence.
3. Consult with a Real Estate Agent
Are you unsure about how to deal with a stubborn home seller? There's no need to worry, especially if you consult with a real estate agent.
With an expert real estate agent at your side, you should be able to overcome any potential homebuying hurdles.
An expert real estate agent will act as a liaison between you and a home seller. He or she will learn about the needs of a homebuyer and home seller and ensure both parties can achieve their ideal results.
Furthermore, an expert real estate agent can respond to any homebuying concerns and questions. This housing market professional can teach you about the ins and outs of purchasing a residence and provide honest, unbiased homebuying recommendations. As a result, a real estate agent can help you simplify the homebuying process and ensure you can secure a first-rate house that matches or exceeds your expectations.
Ready to streamline the homebuying journey? Take advantage of the aforementioned tips, and you can get the support you need to deal with a stubborn home seller.