Bethania Camilo - Coco,Early & Associates Star Division LLC

Posted by Bethania Camilo on 3/11/2018

When a house is sold, itís generally expected that the seller will take all of their personal belongings along with them. This includes furniture, pictures, cleaning supplies, and appliances that werenít included on the deal. This is all in the expectation that the buyer will have a clean property to move into. 

If a seller does leave personal property behind, what are the rights of the buyer? Buyers may wonder if they can move in and actually take possession of the home if belongings have been left behind. There are a few reasons that buyers may leave property behind including:

  • The item is actually a fixture and not considered personal property
  • The item could belong to a tenant (or former tenant)

In these circumstances, each state determines different rights and procedures that must happen in order for the property to be secured without hassle by the buying party.

What If Thereís So Much Stuff It Impedes On Moving In?

In the case that a seller has left so many things that a buyer cannot even comfortably move into the property, the contract may be refused. If thereís an inordinate amount of furniture, trash, and personal belongings, you certainly have a good argument to not sign the final contract for the property. Your rights as a buyer do, however, depend on what exactly was written into the purchase contract for the home youíre buying. 

Hidden Items

If an item has been deemed hidden or buried, the buyers have a different circumstance on their hands. Many times, a buyer is obligated to hang onto these items for the seller. The items were not technically abandoned by the seller to the buyer. The buyer becomes what is called a ďbailor,Ē or a keeper of the property, who needs to be an agent in the change of possession of the items.  

Possession Unknown

If the ownership of an item is unknown, the terms of the contract are held up. Standard contracts generally state that any items left behind by the seller have been forfeited to the buyer. If the contract says nothing about personal property, the buyer generally takes on the role of ďbailorĒ again in this instance.

If The Property Owner Has Died Or The Property Has Been Abandoned

If a property has been abandoned due to foreclosure or bankruptcy, or the property owner has died, any personal property that is left behind is a bit more of a risk for both parties. These circumstances generally state that a buyer will be taking on a property ďas isĒ and essentially anything left is the buyerís problem. 

If a property owner has died, the executors generally take on the responsibility of removing items from the property to be distributed to the rightful beneficiaries. Occasionally, this process doesnít work out due to family quarrels. In this case, personal property of the seller goes into the category of forfeiture. 

Personal property is just one reason why you need to understand your legal rights when youíre buying a home.

Posted by Bethania Camilo on 1/14/2018

If youíre selling your home it can be frustrating when you arenít receiving any offers. Perhaps youíve heard that itís a sellerís market and that the offers on your house would be flying in. However, itís more complicated than that.

Whether or not your house receives offers is determined by a number of reasons--some that in your control, others that arenít. But, that doesnít mean you have to give up and sell your house at a low price.

In this article, weíll discuss what to do if your house just isnít selling. Weíll talk about some reasons why people may be hesitant to bid, to inquire about a showing, and to seal the deal and purchase your home.

Revisit the comparable properties

If your home has been on the market for a while, itís a good idea to check out the other recent homes in your neighborhood to see how their prices compare to the listing price of your home. Since the market fluctuates, other sellers could be adjusting the cost to reflect the current rates, leaving yours higher than it should be.

When pricing your home, make sure you are comparing your house to those that have actually sold. Using houses that have been on the market for a while as a baseline might mean youíve priced your home too high to sell just like theirs.

Also, make sure you are using houses that share many of the common features that yours does. This can include:

  • Square footage

  • The year the house was built

  • Number of bedrooms and baths

  • The lot size

  • The condition of the home

Remember, it isnít all just about location.

Getting more leads

If people arenít making inquiries about your home, there are a few things you should check up on. First, make sure your listings are updated and accurate. The contact info should be easy to find, and you or your real estate agent should provide multiple means of contact (email, cell phone, text, etc.).

Next, ensure that youíve given enough details about the house. If people are searching for a specific number of rooms but your listing doesnít mention the number of rooms you have, you might be missing out on several inquiries.

Finally, make sure your photos are high resolution and well-lit. You want to make sure visitors to your listing can get a clear idea of what your home looks like. If your photos are small, dark, blurry, or if they make the house look cramped and cluttered, you should retake your photos or consider hiring a photographer.

Getting more offers

If youíve had plenty of inquiries and showings but you arenít getting any offers there may be a deeper, underlying issue that needs to be addressed. Usually, this means your home needs important repairs and upgrades that buyers simply donít want to make.

If your house is priced to be move-in ready but itís not, youíll have to make some upgrades or lower the price.

Not working with an agent

Sellers can also have a difficult time getting offers if they attempt to sell the home themselves without using a real estate agent. If your home is FSBO (For Sale by Owner), youíre missing out on a number of listing services and connections that an agent can provide.

Posted by Bethania Camilo on 10/2/2017

Understanding how much your home is worth is important for a number of reasons. For one, when you go to sell your home, youíll have an idea of how much equity that youíre working with. You may need to either refinance your home, take out a loan, or line of credit. Knowing the current market value of your home can give you a good idea of your finances and what to expect. Many people believe that their home is worth more than it actually is. In reality, your home is only worth what people will actually pay for the property in a certain time frame. 

Some websites offer basic ideas of how much your home is worth. You can also use the Internet to search for comparable properties and see what has been sold, how much it has been sold for, and how much other homes that are similar to yours in the neighborhood are worth. Youíll need to be sure that the comparing properties include the same types of features as your own home in order to get a good estimate. 

Consult A Realtor

Experienced realtors in your area are great resources for helping you to determine your propertyís value. Many agencies offer free market value analyses, which can help you to see where your home would fall in the current real estate market. Realtors donít get paid unless your home sells. They can use their many resources to work with you on the sale of your home and help you to price it appropriately.

Hire An Appraiser

If you want to dig a bit deeper in the pricing of your home, youíll need to shell out a bit of cash. You could hire a certified appraiser who will dig deep into your property to determine the value. Once you find a buyer, another appraisal will happen on the property. The buyer pays for this. If you really want a good idea of how much your home is worth, hiring an appraiser beforehand is key. Keep in mind that appraisers may come up with slightly different estimates for the same home.      

Know The Key Things That Affect Home Value

There are a few big factors that influence just how much your property is worth. While you may love your big kitchen, it goes a lot further than that. Factors that contribute to how much your property is worth include:

  • The amount of land that you have
  • The neighborhood your home is in
  • The schools your home is near
  • How many square feet your property is
  • The condition of your home
  • Any updates that have been made to the home
  • The types of appliances you have
  • Has the home ever been foreclosed on? 
  • Is your home energy efficient?

Based on all of this information, youíll be able to get a good idea of what your home is worth. Beware of things that can cause a major financial setback on your homeís value like an urgent need for roof replacement, dated windows, or an unknown crack in the foundation. Getting an idea of what your home is worth is a great way to keep on top of your own assets whether youíre prepared to sell or just curious about numbers.

Categories: Uncategorized  

Posted by Bethania Camilo on 9/17/2017

After you accept an offer on a home, you likely will only have a few weeks to pack up your belongings and vacate the premises. As such, there are many questions that home sellers need to consider at this point, including:

1. Where am I going to live?

If you haven't figured out where you're going to live after your home closing, there is no need to panic. Consider all of your potential living options now, and you can plan accordingly.

Oftentimes, friends and family members may be willing to provide you with a temporary place to live. These loved ones may enable you to stay in their houses until you buy a new residence. Or, in some instances, you may be able to permanently move in with friends and family members.

On the other hand, if you enjoy being a homeowner, you may want to kick off a home search right away. This will enable you to find a new place to live in the city or town of your choice. Also, if you work quickly, you may be able to finalize your home purchase around the same time that you sell your current house.

2. What is the homebuyer's next step?

In most cases, a homebuyer will have a set amount of time to schedule a home inspection after you accept his or her offer. Once the home inspection is complete, the buyer will receive a report that provides insights into the condition of your house.

For home sellers, a home inspection can be stressful. If a property inspector discovers problems with a residence, a buyer may choose to walk away from a home purchase or ask a seller to complete various home renovations.

When it comes to selling a house, it pays to be honest. If you provide honest responses to a homebuyer's questions about your residence, you can help the buyer make an informed purchase decision. Plus, with this approach, you can minimize the risk that a home inspection may lead a buyer to rescind his or her offer.

3. What will I need to do to finalize the home sale?

The time between accepting a home offer and reaching the closing date may seem endless. However, a patient home seller will be able to stay calm, cool and collected, even if challenges arise along the way.

As a home seller, you should try to do everything you can to reach the finish line of a property sale. If you maintain consistent communication with a real estate agent, you can seamlessly navigate all stages of the home selling cycle.

A real estate agent works on a home seller's behalf and will do everything possible to minimize potential pitfalls. Thus, this housing market professional is happy to respond to a home seller's questions to ensure this individual is fully supported in the weeks and days leading up to a home closing.

Collaborate with a real estate agent, and you can receive plenty of support throughout the home selling journey.

Categories: Uncategorized  

Posted by Bethania Camilo on 8/27/2017

You're getting ready to list your home on the real estate market but are finding that there are many unnecessary items that fill your garage, attic and basement. Fortunately, you know exactly what to do to get rid of these items quickly Ė host a yard sale! A yard sale likely will prove to be a valuable option for a home seller who wants to earn some extra cash and eliminate clutter from his or her home instantly. In addition, hosting a yard sale may help you spread the news that you're preparing to sell your home, and ultimately, generate interest in your residence. So what does it take to host a successful yard sale? Here are three things you need to know: 1. Advertise As Much As Possible. From good, old-fashioned posters that are strategically scattered throughout your neighborhood to online postings on social networks, you can advertise your yard sale to generate plenty of interest. If you use posters, be sure to indicate where your yard sale will take place, the exact date and the starting and end times. You also may want to indicate what types of items you may be selling Ė like clothing, furniture and toys Ė to garner interest in your yard sale. On the other hand, advertising online provides you with a vast array of options. In fact, you may be able to use images that show some of the items that you'll be selling, provide directions to your yard sale and make it easier for interested buyers to understand what your yard sale is all about. 2. Get Organized. Consider how you'll want to lay out all of your yard sale items before you host the big event. For example, it usually makes sense to place similar categories of items together. That way, you'll make it easier for buyers to find all of the toys in one spot, all of the furniture in another spot and so forth. Plus, getting organized before your yard sale enables you to take a close look at the clutter that fills your house and determine what can be sold and what should be thrown away. If an item is unusable to you, it's unlikely that you'll find a buyer for it at your yard sale. Therefore, you may want to dispose of broken items before your yard sale, as this will help you free up space in your home. 3. Set Realistic Prices. The Internet is a valuable resource for those who want to establish realistic prices for items they intend to sell at a yard sale. By doing some online research, you can find out what many of your items are worth and price them accordingly. Of course, you should try to avoid the temptation to overprice and remain flexible throughout your yard sale, particularly if your primary goal is to get rid of items before you sell your house. Plan out your yard sale, and you may find that you're able to sell off a broad range of items and eliminate clutter from your house immediately.