|
Corona Real Estate / Help for Buyers and Sellers
5 Steps To Sell Your Corona Home
Selling your Corona home is a process that involves five basic steps. These steps are Preparing the Home for Sale, Finding a Buyer, Qualifying the Buyer, Negotiating the Terms, Handling all the Details needed to finalize the sale. If you list your home your real estate agent takes responsibility for each step. If you sell on your own, it is your responsibility to complete each step.
Preparing to Sell Your Corona Home
Experienced agents know what puts prospective buyers off when they view a home, especially Corona. For example, when buyers find dirty dishes in the sink, notice offensive pet odors or spot obvious stains suggesting a leaking roof they begin to devalue the property. Some buyers may decide to pass on the house completely while others may think about making an offer way below the asking price. So, a good agent’s first step is to help the homeowner see the house as others will see it and take care of problems.
Qualifying the Buyer for your Corona Property
Either you or your agent will want to weed out potential buyers who cannot afford to purchase your Corona home. Items to investigate include the buyer’s debt and credit history, current income and employment, the availability of cash for a down payment, the time the buyer needs before closing on the home and the buyer’s level of interest in your home as compared to other properties.
Corona Fixed or Adjustable?
The fixed rate mortgages offer Corona real estate buyers peace of mind with predictable monthly payments. Taxes may go up but the principle and interest will remain fixed throughout the life of the loan. When interest rates were rising rapidly in the late 1970s, lenders came up with ARMs or Adjustable Rate Mortgages. With an ARM, the borrower assumes the risk of rising interest rates. Both have their advantages and disadvantages.
Corona FAIR MARKET VALUE
When you buy Corona real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.
Corona Disclosure Rule
Tell All is definitely the rule for anyone who is selling Corona real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your pocketbook.
Today, those selling a home or any Corona are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyer’s decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Corona seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.
 |