Do you know what your potential home buyer is looking for? Can you look at your home objectively to see what the buyer sees? Probably not. When you get ready to put your house on the market here are a few tips for a quick sale that will also maximize your profits.
Extermination can be expensive, with exterminators charging for the in-home visit and for the treatment itself. Treatment methods also vary. It can cost from $50 to $400 for an in-home inspector (the high end if a dog is used to detect hiding places), with the treatment costing from $1,000 to $6,000 (most closer to $1,000, the high end for thermal remediation – where portable heaters are sued).
A short sale will negatively impact your credit report. Although there are some industry professionals that say having a short sale on your record is not as bad as a foreclosure they do agree that some creditors looking at your report will not differentiate between the two. Clearly it will leave a large blemish. The good news here is that as more and more borrowers go through foreclosure and short sales the more common it will be on credit reports and the impact less sever.
Lenders who are willing to accept a short sale offer will insist that the seller, their borrower, not get any proceeds from the sale. A title company will prepare a draft closing statement as part of the short sale presentation to the lender that shows all available proceeds from the sale going to the lender and no cash for the borrower. What this means is that there are likely going to be some selling expenses that will need to be paid for. These may include pest inspections and repair, and other maintenance repairs that need to be completed to satisfy the buyer. Often these can be avoided but now always.
Bottom line, be prepared for short sales to take more time and know the purchase will more than likely be “as is” with you making needed repairs after the purchase is closed.
It has been happening in major cities across Canada for years. More and more first-time home buyers are house poor! Do not get carried away when searching for your home and remember, you do not have to spend the whole amount for which you are pre-approved. We would all love a large and beautiful home but if there is no money left over for furniture or to run and maintain the house, this beautiful large home can rapidly become a bit of a prison.
It all comes down to cost. If you can afford a professional, go this route. If you can’t, a kit is an economical way to treat an infestation that is just starting to take hold.