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Know someone getting ready to buy or sell a home?   Please refer a friendThey will thank you for it.

 

 

Frequently Asked Questions

Open Houses

Pricing Your Home

House Inspections

Getting Pre-Approved

Open Houses

 

Question:  Do you recommend open houses for all houses?

Ed's Advice:

  • $500,000 or higher homes. I don’t believe in open houses on estates valued at $500,000 or higher. You don’t want just anyone to go through your home. I recommend that only pre-approved buyers have access to your home through private showings.
  • All other homes, I leave it up to the seller. If you want open houses, I will schedule them.

 

House Inspections

 

Question:  Do you recommend that a seller get a home inspection before listing their home?

Ed's Advice:

  • It depends. Normally, I don’t recommend that a seller get a home inspection before listing their home for two reasons:
    • It is an unnecessary expense if the home does not sell
    • Different home inspectors catch different things and it does not assure that there will be a clean inspection when done by the buyer.
  • However, if there is a questionable item, such as a roof that may not pass inspection, then it is best to go ahead with the inspection and make the repairs to assure a better chance of a smooth transaction when a buyer is interested.

Ed has access to the names of many reliable contractors who will do a fine job of correcting the situation.

 

Pricing Your Home

 

Question: What is your philosophy on pricing houses?

Ed's Advice:

  • The biggest mistake that real estate professionals make is to price a house too high. Then it stays on the market too long and people begin to wonder what is wrong with it. You end up bringing the price down in the long run anyway and in the meantime, you risked losing some interested buyers early on.
  • I believe in pricing the house to sell -- basing the selling price to the Comparative Market Analysis (CMP), to assure you get fair market value.

 

Getting Pre-Approved

 

Question: Is there an advantage to getting pre-approved with a mortgage lender?

Ed's Advice:

  • Yes! This is the most important thing a prospective home buyer can do – getting pre-approved with a mortgage lender.

Getting pre-approved will:

    • Tell you how much of a house you can afford, so you don’t waste your time looking and finding a dream house only to find out that it is not within your budget.
    • Give you a negotiating tool by making you a stronger buyer. If there are two bids on a home – one from a pre-approved buyer, such as yourself, and another from a non-preapproved buyer, you will have a stronger chance of winning the bid – even with a lower offer!

For example, if you are pre-approved for $300,000 we can look at houses in the $250,000 to $325,000 range. Being pre-approved allows us to negotiate a higher price down or perhaps I can find you something that meets your needs for less.

 

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Eddie Hollon Dayton Realtor