Risks in selling "For Sale by Owner"

Unless you just returned from being marooned in Borneo or were on a Yak expedition in Tibet, you're no doubt aware that our real estate market nationwide has bounced around from being red-hot to currently luke warm.

This uncertainty creates a lot of concerns by sellers and buyers alike. What is a home really worth? What offer should I accept? What if I get more than one offer? What is an escalation clause? What are my risks in accepting an offer with an escalation clause? How can I be sure my home will appraise at the agreed upon sale price? Do I lose my sale if the house does not appraise?

What happens if my buyer is not pre-approved? Does "pre-approved" really mean the buyer is fully approved to buy my home? What happens if I accept an offer and the buyer then comes to me with a long list of repairs from the home inspection? Do I have to make the repairs? Does the sale fall apart if I don't make them? What information do I need to keep the buyer from sueing me later if he finds something I didn't disclose? The list is almost endless.

Answers to such questions are critical to the successful sale of your home. A real estate attorney or an experienced real estate team can answer those questions and more.

New Central Air and Heat Pump Regulation

As of January 2006 the US Department of Energy requires stricter energy efficency in all heat pumps and central air systems. In an effort to boost energy efficiency by 30%, all newly manufactured air conditioning and heat pump systems are now required to be 13 SEER ("Seasonal Energy Efficiency Rating") or greater. In previous years the standard was 10 SEER.

One outcome of the new 13 SEER standard is that they are twice as large as 10 SEER units. Therefore they will need larger pads and will take up more space in warehouses and delivery trucks. It also means they may require more than one person to install. This means of course more man-hours and higher costs to both contractors and consumers.

There is an excellent way to avoid these potentially higher costs…a home protection plan. Such plans protect all the major components in your home, such as the furnace, air-conditioner, water heater, electrical, plumbing, and more.

Let us know if you wish more information on this topic.