This week we’re sitting down with our very own Bill Rolfing to answer some of your most commonly asked real estate questions. With 40 years of experience under his belt, Bill was happy to share his expertise with our readers. To contact Bill, please call or text (949) 689-4470.
What are the most common mistakes you’ve seen on the buyer or seller side of a real estate transaction?
ANSWER: From the agent standpoint, it is a mistake to assume elements of a transaction satisfied. Clarifying each stage or decision on both Buyers and Sellers sides of a sale, and putting those conversations into a log, can go a long way to consummating an open and transparent transaction.
In your experience, when is the best time to sell one’s home?
ANSWER: Ideally, a seller will get the best results when there is low inventory and strong demand. Low interest rates factor into that timing. Traditionally, a Springtime market provides the best environment for Sellers, although economic conditions can delay or alter that calendar event.
What are some common closing expenses for sellers?
ANSWER: Common closing costs for a Seller include escrow fees, title insurance fees, real estate commission fees, recording and transfer tax fees and specific physical property related fees such as a home warranty plan and pest control repairs if agreed to.
Which improvements add the most value to a home ready to be listed?
ANSWER: The best, and most affordable, improvements to prepare a home for sale include cleaning, painting, flooring, landscaping, de-cluttering, window washing, pest control work and basic minor repairs. Beyond those items, kitchen and bathroom remodels will assist with a home’s value, but one should use caution to not invest monies that will not be recaptured in a final sale price.
Any advice you would give to someone looking to buy or sell a home right now?
ANSWER: For Sellers, pricing accurately to the current market is important. A Seller should prepare the house for viewing and be competitive from the start with the local inventory. Using an experienced real estate agent is important to get the maximum results. For Buyers, it is critical to have your finances in line and a loan pre-approval ready to accompany an offer. It is also important to have an experienced agent who is on top of the inventory and looking out for your best interest at all times. It often is the case that a Buyer must be “ready to act” during an active real estate market.
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