Many homeowners dream of selling their house for cash, because home buyers with mortgages add additional risk to the home buying process. If the mortgage does not fund at the end of the transaction, the home buyer must back out of the contract without purchasing the home. This doesn't happen when selling a home to someone paying cash.
However, there can be dangers when selling a home to someone who pays in cash. Understanding the risks can help you decide whether you want to accept an offer from a cash buyer.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
Know the Risks
Typically, cash buyers are investors, not homeowners. Investors buy homes
Historic homes are beautiful, romantic and fun to own. However, if you're thinking about buying a historic home and you've never owned one before, preparing yourself can help make the experience a good one. Here's what you need to know about buying a home with historic value.
Budget for Maintenance
Historic homes may have a lot of deferred maintenance. Original features in particular tend to need extra love and care to ensure that they can continue to function. Homeowners are encouraged to budget at least 1% of their home's value for home maintenance every year. Homeowners with historic properties may need to set aside more to ensure they can keep their home functioning.
One of the factors that affects the cost of maintenance is whether
A home's heating and cooling system (the HVAC system) is an important mechanical device of any home. As the HVAC system heats and cool air, it continually pulls dirt and debris out of circulation using its filters. Over time, these filters start to fill up with debris, reducing the efficiency of the system. With regular use, moving parts start to wear down as well, eventually resulting in the need for replacement.
Homeowners can keep their HVAC system working efficiently year-round by committing to a regular maintenance schedule. With regular service appointments, it is possible to keep the HVAC system in great condition, so it can effectively control temperatures and air quality in the home. A good working HVAC system can be a great selling