Bidding wars are back! Competition has increased in Delaware real estate even amidst the current economic and global health situation. More and more homebuyers continue to flood the real estate market, and prices continue to rise, thus contributing to more competition with offers. According to the NAHB's Quarterly Housing Trends Report, "30% of active buyers reported getting outbid by another buyer in the second quarter of 2020, significantly higher than the comparable 18% share a year earlier."" Bidding wars have been reported as most common for bargain-priced homes where buyers are forced to compete with real estate investors. So, how do you make sure you snag your Delaware dream home and outbid other interested buyers? How can you be certain your offer stands out among the rest? Below are five tips to ensure you gain an edge over the competition in Delaware real estate this year.
Don't Lowball Your Offer Above all else, make sure your offer is not insulting to the Delaware ...
If you’re thinking of buying your new home directly from a home builder – stop! Buying directly could leave you paying much more than necessary for your home. Worse, it can also leave you without recourse if something doesn’t go as planned! This is because a home-building contract is written one-sided – and it’s on the side of the builder!
Here are 12 important reasons why you need a Buyer’s Agent when you are buying a newly-built home, or having a new home constructed.
12 REASONS TO USE A BUYERS AGENT FOR NEW CONSTRUCTION
1. Many Builders sales agents are employees of the Builder. These sales agents represent the Seller and are employed to show model homes, handle inquiries and write contracts. In DE Builder sales agents are NOT required to have a Real Estate license. Since they represent the Builder, they do NOT represent your interests.
The idea of cutting your monthly mortgage payment down by refinancing your loan may sound intriguing to you as a Delaware or Southeastern Pennsylvania homeowner, but there is much more to consider before diving in. In fact, there are cases in which refinancing does not truly pay off for the homeowner. But don't worry! As your local real estate experts, you can count on the Kat Geralis Home Team to help you make the best decision for your situation.
Below are four factors to consider before making the decision to refinance your mortgage:
REFINANCING IS NOT FREE Just as you likely paid some closing costs when you purchased your home in Wilmington, Newark and the surrounding areas, you will be required to again with refinancing. Closing costs are typically 2 to 5 percent of your loan amount and will need to be paid up front when you refinance. While your lender may offer a no closing costs refinance, be aware that it may come packaged with a higher interest rate. It's3 ...
Excitement runs high when you have an accepted offer on your Delaware or Southeastern Pennsylvania home, but what comes next could bring you down if not properly prepared for— the home inspection. The inspection could make or break your deal and is a contingency often written into most offers, meaning the buyer could walk away if the results are less than ideal.
Below are just a few of the items that inspectors will be looking for during their time at your home: 1. STRUCTURE - Integrity of your foundation, state of windows, doors and frames 2. GROUNDS - Faulty grading, dilapidated pathways and walks, trees, and any standing water 3. ROOF - Defects in shingles, flashing, fascia, gutters, chimney and skylights 4. INTERIORS - Water damage, insulation, heating vents 5. KITCHEN - Venting, sink leaks 6. BATHROOM - Toilets flush, showers spray, sinks work
If you're worried about the home inspection, there are also several ways you can prepare to reassure both y ...