4 Most Common Problems During Closing and How To Avoid Them

 

Liens from financed solar panels, long-term security contracts, costly swimming pools, and misunderstood water softeners can hinder your home sale.

Ever thought you were all set to sell your home, only to find unexpected hurdles at the closing table? 

I recently had a client ready to close on their home sale. Everything seemed perfect until we discovered they owed $7,761 on a water softener system they thought was leased, not purchased. Imagine finding out about that kind of bill right when you're about to close. 

These kinds of issues aren't as uncommon as you might think. There are four significant additions—I call them the Four S's—that can trip you up when selling your home:

• Solar Panels
• Security Systems
• Swimming Pools
• Water Softeners

You might have added these to improve your home, but they can complicate things when it's time to sell.

When you sign agreements for these systems, they often come with fine print that can create liens on your property. Title companies will find these liens, which must be paid off or transferred to the buyer before you can close.

Let me break it down for you:

• Solar panels: They're fantastic for energy savings, but if you're planning to move in the next few years, the financing agreements can become a headache.
• Security systems: Peace of mind is priceless, but long-term contracts might tie your hands when selling.
• Swimming pools: Great for summer fun, but they might not add as much value to your home as they cost to install.
• Water softeners: As my client learned, not understanding the purchase agreement can lead to unexpected debts.

So, what's the solution? Before you add these features—or if you already have—look closely at your agreements. Read the fine print. Ask yourself:

• Is this a lien on my property?
• Can this agreement be transferred to a new owner?
• What happens if I sell before it's paid off?

By understanding these details now, you can avoid surprises later.

If you're thinking, "This sounds complicated," don't worry—I'm here to help. I aim to help you have a smooth, successful closing without any unexpected bumps. At Shine Team Realtors, we can walk you through your options and make sure you're fully informed. Ready to sell your home without the stress? Contact us at (254) 690-4321 or Shine@ShineTeam.com. Let's make your home sale a shining success together.

Is Staging Your Home Worth the Time and Cost?

If you’re considering selling your home in the near future, how seriously are you thinking about staging? In the real estate industry, it’s widely accepted by experts across different fields that staging nets you more money for your sale, but I’ve spoken to a lot of homeowners who see it as a waste of time and money. If you’re on the fence about staging, here’s the truth: A few thousand dollars upfront can get you a two-to-one return on your investment and save you tons of time in the long run, which is why I always recommend sellers stage their properties. Here are the three most important benefits of staging you don’t want to throw away: 

1. Staging minimizes issues and highlights features. No home is 100% perfect, but staging allows you to move the focus away from your flaws and toward your strengths. Small rooms, dated appliances, and old fixtures can all be mitigated by proper staging. Items that would normally be sticking points at negotiations might be looked over by buyers who are attracted to your property’s highlighted features, so if you want a smooth home sale, I highly recommend staging.   

2. Staging turns your home into a shopping experience. Have you ever visited a model home? If you have, you know they have a clean, neutral feel that encourages you to look at the property as a product instead of as a messy place where life happens. Your home probably has some unique personality traits that could be a turn-off for certain buyers. By depersonalizing your home with staging, you can avoid these issues and present your home as a blank slate buyers can project their desires on to. 

3. The data proves staging nets you a great return on investment. There’s a reason why all home experts recommend staging; according to one estimate, putting 1.3% of your sale price into staging can net you an extra 7.1% on your final offer. I know it’s tough to have extra cash lying around when you’re planning a move, but I highly recommend accounting a few extra thousand dollars for staging costs when you prepare to sell your house. Not only will you see a great return, but your home will sell faster and attract more buyers. 

I feel so strongly about staging that I have a home stager who provides an initial consultation to every seller who lists a house with our team.  If the house is vacant, the stager will also do some minor staging to make the house more attractive for the seller at no cost.  All of this is at no cost to the seller!

Whether you’re planning on selling soon or years down the road, it pays to plan ahead. Call or email me for a free, no-obligation pre-sale consultation. I’ll go over your neighborhood, the market, staging, and more. I look forward to hearing from you!

Are We Heading Towards a Buyer's Market?

 

Even though our market is slowing down, I’m explaining why we probably aren’t heading for a true buyers market. 

Have you noticed a shift in our housing market lately? Homes are taking longer to sell, and prices are volatile nationwide. Depending on where you are, prices could start coming down for the first time in years. This has made many wonder, “Are we finally heading towards a buyer’s market?” My best answer is no; at least, not exactly. Instead, I’d say we’re more likely to head to a balanced market where both sellers and buyers have opportunities if they know what to look for. Here are three things you need to know about our market right now to make sure you get the best deal possible, whether you’re buying or selling: 

1. Why is our market balancing out? Despite record-high home prices and shrinking demand, prices aren’t falling in most areas of the country. While these conditions might make it seem like we’re heading for a buyer’s market, the truth is that prices are being kept in check due to low supply. Inventory has increased nationwide, but this hasn’t been enough to offset the persistent lack of supply in most markets. If inventory continues to rise, the market could eventually favor buyers; however, low supply and low demand are offsetting each other. 

 “We have good reason to believe the market will shift soon.”

2. Condition matters. In the current market, there is a huge gap between homes in good condition and those that need work. Due to affordability issues, buyers don’t have extra cash to make repairs after closing. If you don’t make the proper repairs before listing, you could suffer from a lack of demand that makes it feel like you’re in a buyer’s market. On the other hand, if you work with your agent to get your house ready for the market, multiple offers could come in quickly. You might even create a bidding war! Work with your agent and consider a pre-listing inspection, and you can still get an amazing deal on your house. 

3. The market may speed up again soon. While lower activity might make you think we’re heading for a buyers market, we have good reason to believe a shift is right around the corner. Due to worse job reports than expected, most experts believe the Federal Reserve will lower interest rates soon. This will make buying a home more affordable and spur new buyer demand. Tons of would-be buyers have been sitting out of the market waiting for rates to drop, so as soon as the news hits, we could see a fresh wave of demand. 

There will be tons of competition when the Fed finally drops rates. If you want to avoid potential rate drops or are interested in a free pre-listing consultation, please call or email me. I am always willing to help!