The slick, entertaining formats of HGTV’s many buying and
selling programs makes for great entertainment – but, as anyone who has ever
actually bought or sold a house knows, they tend to leave some key information
on the cutting room floor. Sure, real estate sales in New Orleans can in fact involve
elements of creativity, presentation, personality, all of which make for
interesting television viewing. But in real reality, successful real estate
sales are largely based on contracts, disclosures, inspections, contingencies,
and time. They may be less telegenic, but can be dramatic, especially when
you’ve done everything in your power to make sure that a deal works out
smoothly, only to be faced with last minute surprises that threaten to prevent
you from closing (or cost you a bundle!).
Here are some of the major issues that can impede New Orleans real
estate sales—and how to prevent them from happening:
Not Weighing
the Comps
When you are in the process of making a major decision,
it’s natural to seek the opinions of the people who are closest to you. When it
comes to real estate sales, however, personal opinions from well-intentioned non-professionals
can create distractions that wind up doing more harm than good. In the realm of
contracts and negotiations, it’s important to give weight to the opinions of experienced
real estate pros. They know how to provide unbiased guidance based on comps and
statistics rather than emotion.
Verbal
Agreements
Whether you are selling or buying, it’s essential to get
any agreements about repairs or updates in writing. Parties will often discuss
repairs or credits and assume that a verbal agreement will suffice. Not true. Not
only can a repair come back to haunt you later, but certain repairs left uncompleted
can delay the close of escrow.
Last Minute Changes
Whether it’s taking out a loan on a new car or holding one final
goodbye party at the house, last minute actions by buyers and sellers have an
uncanny ability to hold up a deal. When you are in contract for a property,
keep your eye on the prize: if you’re the seller, don’t do anything that increases
the risk of damage to the house. If you’re the buyer, don’t make sudden changes
in your financial life until you are the legal owner of that property.
Buying and selling property is more intricate than a
30-minute TV show, but the end of the episode should feature the same broad smiles
and satisfied handshakes—particularly if you don’t let an innocent move derail the
purchase. Real estate sales in New Orleans are my business; call me anytime!
Terez Harris NOLA Real Estate Group
(504)297-2619
Harris.Terez@gmail.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers licensed in the state of Louisiana.
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