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Evergreen Disclosure Rule
Tell All is definitely the rule for anyone who is selling Evergreen 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 Evergreen 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 Evergreen 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.
Evergreen Homebuyers Quandry
Armed with the Comparative Marketing Analysis, it is time to approach your lender to see if you can get financing without selling your current Evergreen. In most cases, financing will be contingent upon selling your home but you may be able to obtain interim financing sometimes known as a Bridge Loan.
Buying a Evergreen Fixer-Upper
Finding the right Evergreen fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.
Join my network of Evergreen buyers looking for specific types of properties. Call or Email me today.
Buying Evergreen Below Market
On most real estate Websites you can enter the parameters you want for your Evergreen. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, you’d better be prepared to act quickly because you aren’t the only one who’s looking for a bargain.
Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Evergreen is priced well enough that it truly is a bargain and not a fixer-upper nightmare.
Taking Title to Your Evergreen
Each owner has a separate title to an undivided interest in the entire property. Each owner is allowed to sell, mortgage or give away his/her interest. Any number of people can take Tenancy in Common ownership of Evergreenand husband and wife may choose this option as well. When an owner dies, his/her interest passes by will to his/her heirs. In other words, there is no survivorship right.
Each owner has an equal interest in the Evergreen. If one owner dies, that person’s share of the property passes automatically to the other without going through probate. Any number of people can take ownership under Joint Tenancy and husband and wife may choose this option as well.
Community Property. Only husband and wife can take title to Evergreen in this way. Title is in the community
Evergreen SEARCH
The easiest way to start your Evergreen search is to use the online search capabilities on this Website. This will give you a snapshot of all the homes that are available in your price range, with the amenities you require and the locations you might consider. Next, make contact so that a knowledgeable agent can help you narrow your choices and take you on a personal tour of your best options.
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