Closing time

Many first time home buyers do not know what to expect when they get to the date they are supposed to close on their house. Sometimes, if the buyers have faced stressful challenges associated with their financing, they feel a little shell shocked by that time.

In New Hampshire, the closing process works like this: the buyer signs a lot of paperwork and seller usually signs a smaller amount of paperwork. Then the closing concludes and the buyer gets the keys to the house.

But did I mention there is a lot of paperwork?

closing paperwork

 

Creative landscaping

In real estate, much emphasis is placed on a property’s curb appeal. Taking time to improve the exterior of a home prior to putting it on the market can be an effective means of motivating buyers to make an appointment to see the inside of the house. Many buyers drive by homes they think have potential to get a better feel for the property and the neighborhood. Sadly, many homes are crossed off a buyer’s list before an appointment is even scheduled due to an unsatisfactory drive by.

While improving curb appeal typically calls for maintenance and landscaping work there are times when sellers do not think they need to put in any extra time on the exterior since they regularly maintain what they already have. However, in some cases sellers must consider whether their current approach to landscaping is one that will appeal to prospective buyers. Sometimes bizarre landscaping themes can detract from other positive aspects of the property.

children of the sunflowers

Contingent upon the seller…

Contingencies within a Purchase and Sales Agreement in the state of New Hampshire are common. When the realtor working with a buyer assists in making an offer on a home, he or she will include appropriate protective contingencies based upon a buyer’s circumstances and needs. Inspection and financing contingencies are among the most common, followed by requests for seller concessions. Appraisal contingencies are often included as well – either within the P&S or, in the case of FHA and VA loans, on an amendatory or escape clause form.

Sometimes sellers will include a contingency that makes a purchase agreement subject to something specific, such as the seller finding suitable housing. This is not all that uncommon as sellers want to know they will have a place to live by the time they close on the sale of their home and hand the keys over to the buyers. However, once in a while a seller will throw a curveball at buyers and ask for something a little less typical.

An example might be the seller requesting access to the home for a number of days following the closing to complete their move out of the home. Another possibility is they may ask to remain in the home for a longer period of time as a kind of short-term lease arrangement. It is important for buyers and sellers to understand that some of the less common contingencies come with risks that must be carefully weighed before a decision is made. Buyers and sellers should discuss the implications of an unusual or uncommon contingency within a legally binding purchase contract before they sign it.

IMG_0221

Tenant occupied

There comes a time (or two-hundred) in the life of every listing agent when they are asked to list a home, condo, or townhouse that is occupied by a tenant paying rent to live there. Many that rent a property owned by a person, versus an investor or management company, know that at some point the owner may choose to sell and they will have to move out once the lease concludes or upon receiving proper notice; however, once in a while an agent encounters a tenant that appears to have no intention of moving out. Ever. And this can contribute to a variety of complications and challenges when it comes to completing a sale of the property

On the purchase side of the equation, a buyer and their agent may be mindful of certain red flags that hint to potential purchase difficulties regarding these situations down the road. They should not ignore them, but rather they should address them directly if a buyer is interested in such a place.

tenants