During the inspection contingency period
, your buyer has a right to bring in various inspectors to check out the quality and state of your home. So what happens if the inspector finds things wrong, your buyer submits a request for repairs and you don't want to fix them?
In California and most states, the offer to purchase real estate says the purchase is "as is." Nonetheless, offers also typically allow for buyers to inspect the property, review reports and seller's disclosures and cancel the agreement if they are not completely satisfied with what they find. Let's take a look at how the process works.
Which areas does Home Bay currently serve?
Sometimes sellers request to leaseback after the close of escrow. Such a leaseback can be great for sellers because they have the peace of mind of not moving until after the closing funds are deposited into their bank account. Leasebacks can also facilitate a faster closing than would otherwise be possible. This post will explain how to create a seller leaseback and what the owner occupancy requirements are.
They say it's not what you know
but who you know
that matters. This statement can apply to virtually anything in life, and it's particularly true when it comes to business deals. And in the business of real estate, paying careful attention to who
you know (and how you treat them) can be a game changer.
When you put your home up for sale, it's not all that uncommon to quickly receive offers from multiple potential buyers. Some of these buyers may say they've been prequalified for a loan, and others might talk about being preapproved. The difference between prequalification vs preapproval says a lot about the strength of a buyer's offer on your house. So how do you determine which offer you should more seriously consider?
Selling a home can be a lengthy, time-consuming process. Few things are as frustrating as accepting an offer, only to have the deal fall through a few weeks later. And as a seller, you can't afford to spend your time on buyers who aren't committed or financially able to complete the process. One key way to weed through your options and really be able to determine who might be the most reliable buyer is by understanding the difference between being prequalified or preapproved.
Having a buyer without an agent is a win/win for the buyer and seller because the real estate agent fees go way down, and in some cases, the buyer gets a rebate toward downpayment and closing costs. Submitting an offer without an agent is easy.
The best listing price strategy is to list at or below market value. A wealth of data supports this conclusion.
is dedicated to providing home buyers and sellers with comprehensive natural hazard disclosure reports. In this post, you'll learn what a natural hazard disclosure (NHD) is, what the report covers, and what to look for.
There are a number of things you can do to ensure your home appraisal goes smoothly and the appraiser's findings come out in your favor. Keep reading to learn how to prepare for your appraisal.
When Home Bay affiliated brokers sign listing agreements, the listing agreements state the listings are "limited service." Limited service is a term of art that came out of the Justice Department anti-trust settlement with the real estate industry several years ago. The designation means the broker does some, but not all, of what a full service broker would do.
Retirees can't afford to make financial mistakes because they don't have a lifetime of work to make up for their errors. So if you're preparing for retirement and are planning to list your home, getting the pricing right is critical. This post explains exactly how you should go about pricing your home for sale.
Pricing your home requires a thoughtful evaluation of your local market, recent home sales in your area, the unbiased value of your home and more. To make sure our sellers set an accurate list price on their home, we ask them to answer the following last minute pricing questions prior to listing.
A lot has changed in real estate in the past decade or so; both in terms of technology and in terms of buyer access to listings. This post will explain how
things have changed and how those changes benefit today's homebuyers and sellers.
There's nothing more frustrating for a seller than to expect to close escrow on a specific date, only to be told that a lender delay is pushing the date further out. It's especially frustrating if that "further out" date is yet to be determined. But what causes closing delays and what can you do to help get things moving again?
Home Bay frequently works with sellers conducting 1031 exchanges. Though Home Bay isn't a 1031 exchange agent (also known as a 1031 facilitator), we can provide you with a referral to one.
We often hear from home sellers that they will only accept an offer at $X+ price because their home is superior to another home in their neighborhood that just sold for $X. We caution such sellers to be very careful. Here's why.
We do not put up pending signs. The reason traditional brokers do so is because it shows everyone in the neighborhood that they successfully got the home into escrow. This helps the agent get future listings.
Home Bay's comprehensive seller service costs a low one-time fee paid at the close of escrow, starting at $2,000. Reach out to an agent to discuss your needs and get a personalized quote. 888-544-4239
We feel bad when our sellers receive low appraisals because it can be a painful outcome for the seller and buyer. But all hope is not lost - there are things you can do to try and keep your sale moving forward. Read on to find out what they are!
If you get a lowball offer, do you counter or do you simply ignore it and wait for other offers to come in? Read on to find out what our expert real estate staff suggests.
When you go to sell a home, it can be a little bit confusing to figure out what you're going to end up being financially responsible for. Read on for a brief list of real estate fees you can expect to pay when you sell.
Evaluating a California residential purchase agreement can seem daunting, but there are really just a few key things you need to take a look at to determine how to respond. Read on to learn what those things are and review your offers with confidence!
The simple answer to this question is no, you can't delist and relist your home to make it look like a new listing. Keep reading to find out why this isn't a good practice and what other tactics you can use to get more buyers to check out your property.
So you showed a home to a potential buyer - now what? Should you call them? Email? Leave them be? Keep reading to learn best practices for successful post home showing buyer follow-up.
Wondering what it takes to pull off a successful home showing? Learning how to prepare, what to expect and what buyers want will give you the confidence you need to do just that.
If an agent promises they can sell your home for more money than any other house on the block, you should hire them right away, right?
Not so fast. Remember, a real estate agent's pitch is designed to get you excited to work with them. Read on to learn why you should be wary of pricing advice from agents looking to land a new client -- you!
Some home improvement questions are easy to answer. For example, dead lawns should be replaced. However, some questions related to home improvement are very difficult for us to answer without seeing pictures of your home, knowing your price point and understanding your neighborhood
Generally, for homes priced over $1 million, we recommend considering staging. For homes below $500,000, we do not. Read on to learn why!
If you provide your own listing photography that meets our minimum standards, we will discount your price by $150. In general, that means you provide high-quality photos of your home's exterior (front), backyard, kitchen, living room and master bedroom. Your photos must be high resolution and they must not be blurry or grainy.
When your home is marked sold in our system, we automatically notify the sign post company to remove the sign. Removal typically takes two business days.
You can customize a Home Bay For Sale sign
by purchasing a real estate sign rider. Example sign riders might show your phone number, pool, coming soon, price reduced, etc. All of our sign posts have a slot at the top where you can add a rider of your choosing.
Your house has been listed for a few weeks now and your showing requests are starting to slow down. Why is that happening? Is it something you did? And most importantly, what can you do to help generate more interest? Let's take a look.
Congratulations on listing your home! It's great to take a huge first step, but now what should you expect? How can you tell if your listing is doing well or if you need to make changes? Read on to find out!
There are a lot of players in a real estate transaction and keeping them all straight can be confusing. This post will explain the difference between Home Bay Technologies Inc. and Home Bay Broker CA, Inc. and explain who provides what services in a transaction.
Get advice from industry expert, Zillow CEO Spencer Raskoff, on how to analyze your list price, how to determine when to change your price and how to maximize the impact of price changes.
Knowing that there's a very good chance your buyers will get a home inspection, is it worth doing your own before listing so you know what needs to be fixed? Or, is it better to wait and see what the buyer finds at the start of escrow? Keep reading to learn.
It can be intimidating to price your home, but there's no reason to spend too much time worrying about the long-term implications of your initial price. This post explains why.
Once you sign up with Home Bay, we can send you any neighborhood comps - or similar home values and details - that you would like. We typically recommend that you look at the last six months of sales in your neighborhood for homes like yours (same number of bedrooms and similar square footage).
Yes, Home Bay can help you with pricing by pulling comps, sharing them with you and answering questions you may have about them. Here is a short video on our approach to pricing.
The person in the best position to answer this question is you. Generally, the faster you go to market, the better for you. Why? Because you'll get to stop paying the expenses of the property and start enjoying the benefits of the cash from your sale sooner!
We work as fast as you do. If we have everything we need from you, we can get your listing live the day you sign up.
Real estate websites like Redfin, Realtor.com and Trulia don't display your contact information. Why? Because they make money by selling buyer lead contact information to real estate agents. That's why you see agent photos next to your listings on these sites.
The Home Bay brokers you work with are all covered by the same type of insurance that covers all traditional real estate brokers and agents.
For real estate questions, all persons working on your sale will be licensed real estate brokers with at least 10 years of experience. We also employ engineers and other technical people who will indirectly contribute to your sale.
You will not need access to a fax machine or scanner. All &qout;paperwork" can be electronically completed and signed. You must have a computer, smart phone or tablet.
Wondering how Home Bay handles all the real estate paperwork involved in your transaction? Our team of real estate brokers and transaction coordinators provides the exact same forms and disclosures that you would receive from a real estate agent throughout the home sale process.
In most states, such as California, it is very uncommon for a seller to hire a real estate attorney to assist with the sale of residential real estate. Please ask us about your specific state.
Home Bay handles offers and counteroffers the same way they are handled in a traditional real estate transaction. When you receive an offer from a potential buyer, one of our brokers will go over it with you, answer any questions you have and assist you with a counter offer.
When it's time to show your home, it's understandable to want to make sure your property is only being toured by buyers who are ready and able to put in an offer. Otherwise, showing your home can feel like a big hassle and a waste of time. But how can you know?
Are flyers a valuable piece of real estate marketing? Does Home Bay provide listing detail flyers to sellers? Keep reading for answers.
In most areas, we use local post companies to post our signs. These aren't listing FSBO post companies, but rather the same companies agents in your area use. Typically, these companies require two business days notice to install the post and sign. We typically ask for the sign to be installed the day you go live on the MLS. If you would like a different installation date, please let us know by sending an email to email@example.com.
If you cancel prior to the minimum 90-day MLS listing period, your Home Bay fee will become due immediately. For example, if you change your mind about selling on day 11 because you've decided to rent your home, your Home Bay service fee is due and payable at that time.
You agree to list your home For Sale on the MLS for a minimum of 90-days. Thereafter, your term continues for a year unless you notify us otherwise.
In remote areas, finding a real estate photographer can be more of a challenge. The best starting point for you may be Yelp, and you may have to work with a photographer who doesn't solely specialize in real estate photos.
We pay for pro photography because it is so imporant to selling as quickly as possible for the highest possible sales price.
Yes. If you start working with us after you already have a buyer lined up, we charge $1,500 to help with all the paperwork.
Because we operate from a centralized location, we are able to serve hundreds of listings, whereas local agents typically serve only a small number. Unlike your local agent, we don't spend any time driving to properties and opening the door for buyers or property inspectors.
You know selling a house costs money, but how much? What fees are you going to be responsible for? How much do they cost?
Home Bay's broker frequently represents both seller and buyer, and in such case, your savings will be significantly more.
If you work with Home Bay, our low, one-time fee replaces the commission you would typically be paying to a listing agent. But do you still have to pay commission to a buyer's agent? Read this post to learn.
To get the very best results from your photo shoot, please prepare your property before the photographer arrives.
A lockbox is a small key safe that allows you to show your home to prospective buyers without having to be there yourself. Read on for some FAQs on how and why you should use one to simplify your home showings.
It may sound strange, or even unreasonable, but a death on a property is considered a material defect that must be disclosed to the buyer, according to many state laws. Read on to learn more about disclosing a death.
Your home sale may not go as expected - and the resulting stress and anxiety can cause you to make unwise decisions. Avoid mistakes by giving careful consideration to the questions below and use your answers as a guide on what to do to turn your situation around.
There are typically two types of Title Insurance: an Owner's Policy and a Lender's Policy. This post will explain what each policy is for, who and what it covers and who pays for it.
In a real estate transaction, buyers and sellers are sometimes faced with an issue they cannot resolve on their own. Rather than litigate (i.e. go to court), the parties can agree to mediation or arbitration.
The Liquidated Damages clause in a real estate contract is a reasonable and agreed upon amount that would be awarded to the seller, should the buyer breach the contract. Liquidated damages typically do not exceed 3% of the purchase price. Read on to learn how this clause protects both the buyer and the seller.
The real estate term for an item that sells with a property is "convey". In every home sale, there are a number of default items that convey at closing. This post will provide some insight on what items typically sell along with a property.
Real estate has lots of terminologies and it can be difficult to keep it all straight. This post will take a look at sales restrictions and will explain what they are, how they work and how they can impact your real estate purchase or sale.
When you list your home on the MLS, you have to state what type of ownership you have. This post will explain the two main types of ownership and will also provide detailed definitions for additional, less common types of ownership. Read on to learn more!
To list your home for sale on the MLS, you will need to indicate the type of buyer financing you are willing to accept. Read on to learn about common real estate financing terms and find out what each one means.