**Picture from Zillow.com**
In the home buying process there are so many moving parts and so many people involved that it's not unusual to run into snags that end up killing the deal. About 1 out of every 3 transactions right now are falling before they are completed. Here's a list of 10 Deal Killers to avoid:
1) Who gets the fixtures - spell out in the contract which items are included and which items are excluded
2) The ex disagrees - verification is needed that all owners of the home agree on the sale
3) Buyers buy stuff - once you're Under Contract to purchase a home, refrain from going out and buying new furniture, new appliances, new car - that will change your credit situation and may prevent you from obtaining the mortgage
4) Failure to disclose - Buyers get suspicious of the seller if they uncover problems that the seller is trying to cover up
5) Appraisal issues - in this rapidly appreciating market, appraisal can come in low. The appraiser compares your home to the sales price of homes that have already closed. Those homes may have been worth less than the current market.
6) Unclear Property Boundaries - sometimes a survey is necessary to clarify where your property lines are
7) Permits were not pulled - sometimes sellers will finish off a basement without pulling the proper permits.
8) Surprising Inspection Results - This is hands down the biggest reason for contracts to fall
9) Lender Changes the Rules - work with a lender that your realtor has found reliable in the past
10) The Bank doesn't Care - this is especially true in a short sale situation where the seller owes more than the home is worth. Thank Goodness we have very few sellers now that are in that situation because of the escalating home prices.
The best way to avoid these real estate deal killers is to work with an experienced agent that can help you navigate thru any turbulence.
Click on the "Read More" button at the bottom of this post to read more details on these deal killers.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service