Seller Response Time: How Long Buyer’s should wait for an answer
Quick Answer In the US, the median time to respond to an offer is 36 hours. In the US, 40% of sellers respond to an offer within 24 hours. Are you going to be looking for a new home on the future? One of the most common stresses of buying a new property in is […]
Understanding the Key Parts of a Builders Contract
Quick Facts A builders contract should include the scope of the project, the timeline for completion, and the payment schedule. It should also include a list of materials and labor that will be used in the project. It should also state who is responsible for any damages or losses that occur during the construction process. […]
Red Flags: Reasons To Report A Real Estate Agent
Quick Answer Reasons to report a real state agent may include failure to disclose important information, misrepresentation of facts, or failure to follow the terms of a contract. Additional reasons may include money laundering, embezzlement, kickbacks, forgery, or even bribery. Depending on the severity of the complaint, the real estate agent may face a fine, […]
What is Earnest Money and when can a seller Keep it
Quick Answer EMD stands for Earnest Money Deposit, which is a deposit made to a seller that represents a buyer’s good faith to buy a home. According to the National Association of Realtors, the median amount of an EMD is 1% of the purchase price. In real estate transactions, an Earnest Money Deposit refers to […]
Should I Waive a Home Inspection to buy a house
Quick Answer No waiving the inspection contingency could open yourself of to tens of thousands of dollars in repairs. Waiving an inspection contingency means that the buyer is agreeing to purchase the property without having a professional inspector come in and check the condition of the home. The only reason people would waive the inspection […]
What is Buy Box in Real Estate & how to use it
Quick Answer Refers to the criteria or parameters that real estate investors or buyers use to purchase potential properties. It is set of guidelines that define the characteristics of properties that a buyer is interested in. The buy box can include many factors depending on the investor’s strategy, price range, and personal preferences. You use […]
What to consider when making a lowball offer on a house
Quick Answer Sellers may be more likely to accept a lowball offer if they are in a hurry to sell the house or if they are motivated to move quickly. About 80% of sellers will negotiate on the price of their home. Buying a house can be extremely stressfl, especially when you have to make […]
How you can find Market Value for a Home fast
Quick Answer Work with an agent who knows the neighborhood and has access to recent sales. Run a CMA Get an Appraisal Online home value estimators can provide an estimate of the fair market value of a home, but they are not as reliable as an appraisal or a real estate agent’s opinion. Real estate […]
Can a Seller Back Out of a Real Estate Contract
Quick Answer: Yes a buyer can try and force the seller to sell, but it is a costly process and involves hiring an attorney. A buyer may be better off finding a seller who wants to sell. Refusing to sign closing documents can potentially result in legal consequences for the seller. Yes, a seller can […]
Exploring the Legalities of Dual Agency in Colorado
Quick Answer Dual agency is illegal in Colorado, even if the real estate broker discloses the relationship to the buyer and the seller in writing; it is against the law. Commission rule 6.7 states a broker and it’s agent may not enter into this relationship. But there are some situations where one broker and team […]