Looking to buy or sell a home in Central Arkansas? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (501) 400-4849 for a FREE home buying or selling consultation to answer any of your real estate questions.
In
today's market, everyone is looking for a good deal. But how exactly
do you go about finding one?
It
all starts with a home inspection. If you find a home with a
laundry list of problems on its inspection report, you will have a
great deal of leverage when submitting an offer. It's often the case
that the seller is not in a position to or may not want to bother
with a long list of defects that need to be addressed. It's
situations like this that provide the best opportunities for
investors or people who want to repair, rehab, and resettle.
The
idea is that the seller fixes the problems identified in the
inspection report or you get a better monetary value for the
house. If a property has a long list of defects, it
effectively limits the pool of buyers. If many things need
to be repaired or replaced, many first-time and traditional home
buyers won't be able to qualify for their ideal loan amount with the
home in its current condition; it takes retail buyers out of the
equation because the home doesn't qualify for secondary market
financing. By limiting the prospective buyers for a property, a home
in this condition will likely be bought with cash or by those rare
buyers who want to take it how it is.
If
you're looking to invest or buy a home and improve it, these are the
types of homes to keep an eye out for. There's no one better to
consult on the topic than a real estate professional, and I'm always
available to chat. Give me a call or shoot me an email if you want
more advice on how to make the most of your next home purchase.
