Navigating the Minefield of the Current Market

Most homeowners believe that in today’s  hot marketplace all you need to do is put a Real Estate sign up and 10 offers will come flying in and all of them well over asking price.  There are certainly cases when that is true but there are a lot of pitfalls that come with this market.  This chart outlines some of the issues I have dealt with in 2021. Being proactive, I have been able to help my clients avoid most of these issues. 
A statistic that is most concerning is that 33% of all homes that go under contract come back on the market because of these issues.  Choosing the right agent to guide you through this minefield is critical. 

Buyers’ Remorse | More than 30 percent of contracts are failing in the first few days because buyers are changing their minds, continuing to shop or deciding they might be paying too much.

Appraisal Issues | It is important to be cognizant of what the house will actually appraise for to avoid an issue down the road and potentially just before closing.

Unpredictable Inspectors | They can create doubt about the safety of a home when there may not be an issue.

Inexperienced Lenders | They can qualify a buyer for the purpose of making offers and then discover well into the contract and underwriting that the buyer is not qualified at all.

Inexperienced Agents | Agents who are not equipped to navigate the current market challenges can create an entirely new set of problems that can sabotage a transaction at any stage.

Multiple Offers | If you find yourself evaluating several offers, there are many factors within each offer that need to be considered in order to find the best fit. An experienced agent will guide you through this process.

Hidden Broker Fees | Beware of the hidden fees you might be facing that may not have been explained up front. These fees vary in nature and can add up, cutting into your actual profit amount.

If you are considering selling or buying, or both please let me help you with your next real estate transaction.  Contact me today!