Aim High Properties shares reasons a buyer-seller agreement falls through

 Aim High Properties: What can home sellers do when the buyer-seller agreement comes to an end?

Cinnaminson, United States - /Aim High Properties, LLC/

Why do buyer-seller agreements fall apart?

Home sellers in Cinnaminson may often find themselves at an odd spot where their highly promising buyer backs out at the last moment or even after the contract has been signed. What are the reasons for this last-moment failure in a deal that seemed almost done? Sellers need to be aware of these reasons to ensure they are never in such a tricky spot. Aim High Properties, cash buyers in Cinnaminson, discusses the reasons buyers back out at the last moment and how home sellers can avoid such situations altogether. 

• Loss of income 

Buyers who have lost their source of livelihood cannot possibly take responsibility for a loan. In a scenario where buyers have lost a job or suffered losses in business, forfeiting the paid amount would be a wise decision for them. However, this puts the seller in duress. The seller now has to expend more time, money, and energy on looking for another buyer. Moreover, if the seller has further made payments to buy another house, the failed deal may have some financial consequences for the seller as well.  

• Rejected mortgage

A pre-approved mortgage falling through is not unheard of. The reasons for this rejection can range from changes in the credit history and job loss to the lender rejecting the home appraisal. This can put both the buyer and seller in a tough spot. Most buyer-seller agreements contain a financing contingency clause that enables a buyer to walk out of a deal without any losses before the contingency’s expiration date. This rejection of a mortgage can be disappointing and distressful for the home seller who may have already made plans to move or made certain investments.

• The old home is still on the market

It is normal for buyers to sell one house to be able to buy another house. But what happens when the buyer’s old home remains on the listing for longer than expected? Not only are the buyers stuck with an old home but the possibility of selling the house for the original asking price also dips. Some buyer-seller agreements include a contingency clause allowing the buyers to back out. The flipside of this contingency is that the sellers can keep their selling options open as well. 

• Buyer Finds another dream home

The risk with selling a house to a buyer who is looking to reside in a house is that the buyer may find a better deal or a better house. Even after finalizing a deal, buyers may continue seeking and may choose a house that suits them better. This means the seller has to look for another buyer yet again.

• A failed inspection

Any substantial flaw or damage discovered at the time of inspection puts the responsibility of a failed deal on the seller. Since big flaws impact the future value of a property, a buyer can withdraw an offer and a lender can reject a mortgage upon inspection. Sellers should ideally conduct a pre-inspection and either repair flaws or quote a valid price for the house to avoid such last-minute collapse of deals. 

• Failure to repair as expected

Upon inspection, buyers often demand certain repairs before the contingency date. However, sellers might find themselves unable or unwilling to spend the money and time to make these amendments. In such cases, a buyer may back out or the seller may be required to reduce the asking price. 

• Undisclosed easements

Imagine discovering a third party has a right to use part of a newly bought house. That would be a nasty surprise. This is one such example of easements. It is the right of another person or entity to use part of a property and it doesn’t end when the property changes hands. A buyer may not be comfortable with the idea of sharing a newly bought property with strangers. The declaration of such easements at the beginning of the deal is ideal but when sellers fail to do so, it could mean the deal falling through at the last moment. Notably, easements can also be beneficial to property but a buyer must, nevertheless, be informed in time.

Other types of easements include utility easements, private easements, easements by necessity, and prescriptive easements (acquired by someone's use of property). 

When a buyer-seller agreement fails, it can put a seller under massive pressure both financially and mentally. In such scenarios, sellers can opt to “sell a house quickly” to a cash buyer like Aim High Properties. With Aim High Properties, sellers can expect a cash offer within 24 hours, no repair pressure, and swift closing. 

Why Aim High Properties, LLC?

With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties have been helping homeowners with a variety of real estate problems. Why should home sellers choose Aim High Properties?

• A one-on-one relationship with customers to handle their unique situations
• Ability to directly purchase homes and make cash offers
• Offers an extremely fast, and hassle-free transaction
• Purchases property as well as sells homes directly to buyers

Besides these advantages for home sellers, Aim High Properties also offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.

If you are looking for cash buyers or looking to sell your house fast in Cinnaminson, call (856) 861-6000 or email at info@aimhighprops.com

Aim High Properties debunks the myths around selling your home for cash

 Busting the misconceptions about selling your home to cash buyers

Cinnaminson, United States -  /Aim High Properties, LLC/

Busting the myths about selling your home for cash

There are various costs attached to selling a home. The complete task of selling a home from marketing and staging to negotiating and moving out is tedious. More often than not, the traditional method of selling doesn’t work out for many homeowners. In those situations, a cash offer from a reliable private investor can save the day. Aim High Properties, cash buyers in Cinnaminson, busts the various myths floating around about selling a house for cash. 

 

MYTH # 1 Cash buyers are corrupt

Before investing a substantial amount in any commodity or service, everyone does their homework and research. Now with so much information available at the click of a button, home sellers must investigate the history and background of every cash buyer before engaging with one. Cash buyers are simply real estate investors who buy properties for cash and renovate and sell them to another buyer. Home sellers must check for reviews and ratings online before letting hearsay get the better of them. 

MYTH # 2 Home sellers must repair their homes before selling

The traditional listings method requires home sellers to repair all flaws and conduct a professional staging event to sell their homes at the best prices. This means a huge investment. What if a home seller does not want to spend money on repairs and doesn’t have the liberty of months to wait for the right offer? Doesn’t a swift cash offer make life easy? Cash buyers buy a home as-is. There is no need for repairs or to wait. So essentially, home sellers are saving a substantial amount of money when they sell their house as-is. Use this savings to upscale the next house.

MYTH # 3 Home sellers can get more money if they market their homes

A marketing campaign requires home sellers to conduct complete repairs to a house; hire a professional photographer to click high-resolution, tasteful pictures; spend money on ad campaigns, and conduct staging events. The amount of financial and time investment in marketing is monumental. Marketing a house may get more views but the strength of the market, the season of the year, and the limited pool of potential buyers are odds that can delay a sale by months and years. One wrong listing and the buyer will simply move past it to another offer. The holding costs of a delayed sale are another add-on to remember. By considering selling a home for cash, home sellers not only avoid the complete marketing process and save costs but also expedite the selling process. 

MYTH # 4 Negotiations with cash buyers will delay the sale of a house

Cash buyers view a property once and offer a fair price within 24 hours. Home sellers can expect the deal to be closed within a week! This is unlike traditional sales where the minimum time to close a deal is 90 days after the buyer’s offer. A cash offer from a reliable private investor is simple - quick closure and no repairs. Home sellers who are going through financial duress or circumstances that require them to sell their homes quickly for cash have found cash offers to be life-saving. Again check out sellers' experiences online or look for friend’s recommendations before choosing a cash buyer. 

MYTH # 5 Cash buyers offer a low price

A myth perpetuated by real estate agents, nothing could be farther from the truth. Real estate agents, as well as private investors, make offers based on a house’s evaluation. The offers made by both entities are more or less similar. The only difference is that selling to a private investor does not require home sellers to spend more money in repair, commissions, staging, appraisals, and marketing. Moreover, homeowners selling for cash do not have to face the possibility of a sale falling through because of a rejected mortgage. Private investors are acutely aware of the real estate markets and have their own money to invest in properties they can turn around and sell further. So the closing is often quick and smooth. The amount of money that homeowners save when they sell their homes for cash is substantial. That is not the case in traditional sales. 

The advantages of selling to cash buyers are many. From swift closing to saving money on overheads, home sellers can rely on cash buyers such as Aim High Properties for a seamless and fair selling experience. 

Why Aim High Properties, LLC?

With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties have been helping homeowners with a variety of real estate problems. Why should home sellers choose Aim High Properties?

• A one-on-one relationship with customers to handle their unique situations
• Ability to directly purchase homes and make cash offers
• Offers an extremely fast, and hassle-free transaction
• Purchases property as well as sells homes directly to buyers

Besides these advantages for home sellers, Aim High Properties also offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.

If you are looking for cash buyers or looking to sell your house fast in Cinnaminson, call (856) 861-6000 or email at info@aimhighprops.com

6 holding costs that can put a home seller at losses

 Aim High Properties: Are your holding costs eating up your future home sale profits?

Cinnaminson, United States -  /Aim High Properties, LLC/

Are your holding costs too costly?

Home sellers in Cinnaminson who are awaiting a home sale via traditional listing or an FSBO must understand some holding costs that can wreak havoc on their finances. Understanding these costs is important for a home seller to calculate if their holdings costs are depleting their potential profits. Aim High Properties, the cash buyer in Cinnaminson, shares some of these holding costs in this blog.

What are holding costs?

Holding costs are all the recurring expenses associated with owning property that are pending the sales proceeds. These costs exclude expenses related to buying and selling a property, such as lender’s fees and realtor’s commissions.

Home sellers need to be aware of holding costs so they can plan their selling and investment strategies better. Here are 6 holding costs that home sellers cannot avoid when the sale is delayed: 

1. Lower price to match the market 

Sale via traditional listings usually takes 90 days to conclude after a buyer makes an offer. But getting a potential buyer often takes a lot of time. When a traditional listing fails to attract a buyer for too long, it can put a home seller in a very uncomfortable spot. Not only will they need to lower their asking price to align with the markets, but they also struggle with other holding costs that pile up due to delayed closing dates. The profits a home seller was hoping to make come down drastically with the price decrease.

2. Pay for utilities in an empty house

If a house on sale is empty, it still has recurring utility bills irrespective of the use. Home sellers cannot afford to cut off this service completely until their house staging and showings have led to an offer. The absence of heating, gas, and water can put off potential customers during an inspection. Everything must function when a potential buyer arrives. This holding cost cannot be avoided as the cost of losing a potential deal can be monumental in comparison.  

3. Continue paying taxes

House taxes are payable until the property changes hands legally on paper. Until then, the home seller must pay house taxes to stay out of trouble with the government. The question is whether the home seller is able and willing to pay house tax for two properties? A massive property in a prime location entails a massive house tax. Homesellers residing in another property have to include this holding cost when they plan to sell their house via listings. Ignoring this holding cost can upset a home seller's financial planning. Perhaps traditional listings are not the best method of sale for someone who wants to avoid huge house taxes.

4. Maintain and repair until it is sold

Home sellers who plan to conduct a staging event for their property will need to plan their finances to include not only the cost of a professional staging service. It may include the expense of maintaining light fixtures, the HVAC, and lawns. Unexpected repairs may pop up that cannot be avoided. One staging event may not bring in the right buyers. That means more expense and more waiting time while the maintenance and repair costs keep piling up. Losing track of these costs can skew the home sellers' finances.   

5. Pay the insurance

Home sellers who have moved out of their homes still have to bear the expense of insurance. This is an unavoidable expense in the case of traditional sales. As home sellers wait for their homes to fetch a reasonable sale price, they still have to protect their homes from fire, water, and storms. However, this substantial amount can be very taxing for some home sellers who are struggling with other holding costs and financial duress. Are they sure their wait for a decent offer is worth this holding cost? 

6. Enhance curb appeal

A great price demands a great curb appeal. Home sellers need to invest a significant amount to attract the right buyers, especially when staging. A professional landscaping expert can walk away with a big chunk of a home seller’s money and time. While planning their finances, home sellers must be cautious about overspending. Will this spending be justified by the profit earned on the sale? No one knows.

Holding costs can pile up and disrupt the financial planning of many home sellers. Historically, traditional listings or FSBO take time to attract the right buyer. The change in market prices, the insurance, utility bills, house taxes, and maintenance & repair should be considered carefully before diving into traditional sales. Home sellers who want to avoid these holding costs and move on quickly can contact Aim High Properties for a swift cash offer that matches the market prices, offers quick closing, and demands no repairs. 

Why Aim High Properties, LLC?

With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties have been helping homeowners with a variety of real estate problems. Why should home sellers choose Aim High Properties?

• A one-on-one relationship with customers to handle their unique situations
• Ability to directly purchase homes and make cash offers
• Offers an extremely fast, and hassle-free transaction
• Purchases property as well as sells homes directly to buyers

Besides these advantages for home sellers, Aim High Properties also offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.

If you are looking for cash buyers or looking to sell your house fast in Cinnaminson, call (856) 861-6000 or email at info@aimhighprops.com

Aim High Properties: Various Title Issues That Can Delay the Closing of A Deal

 Title defects that can hamper the sale of a home

The process of selling a home is cumbersome and lengthy. From repairing flaws, marketing the house, and staging for buyers to negotiating for a fair price, a lot needs to be done before the deal is closed. One of the factors that can unexpectedly delay or disrupt the closing for many home sellers is title issues. Aim High Properties, a cash buyer, discusses the common title issues that home sellers must watch out for and resolve in time. 

An early title search is the best way to avoid unpleasant surprises during the selling process. But what is a title? In the context of real estate, having a 'title' refers to having a bundle of rights that arise from the lawful owner of the property. Transfer of the property during a purchase or sale, for example, would be affected by a transfer in this title.

1. Liens

A lien is created when a property serves as security for an obligation or debt. Besides the most common lien, mortgage, liens can emerge from unpaid state taxes, unpaid bills, or unpaid contractor invoices. In the event of the lien not being paid, a home may be foreclosed. A lien is one such title issue that can delay or prevent the closing of a deal.

2. Missing heirs or undiscovered will

The current home seller may have bought the home without knowing any rightful heirs of the previous owners. When these long-lost heirs come forward to claim the property that is entitled to them due to lineage or a will, the title is compromised. 

3. Public record errors

Any clerical or filing errors can be corrected in time by conducting the title search at the beginning of the selling process. Even a minor human error can take ages to fix and jeopardize the closing of a deal.

4. Survey and boundary disputes

Sometimes the boundary between two properties may be blurry, making it a bone of contention. Therefore, a survey can be conducted to decide the property line. This boundary must be defined to ensure that a neighbor or a public entity does not claim part ownership of the property.

5. Unknown easements

An easement gives rights to other parties to use someone else’s land for a specified purpose. This does not entail a financial crisis for the buyers, but it can make their home experience strained and limited. For instance, a buyer purchasing a home might not realize that the electric company has an easement to use the property’s driveway to access power lines.

If a title issue is revealed during an initial search, home sellers must address it at the earliest. The documentation must be accurate. Home sellers can seek help from their real estate agents to find and resolve title issues. Some issues may be resolved swiftly, while others require extensive planning, follow-up, and long-drawn legal processes. This may be time-consuming or require expenditure that the home seller is unable or unwilling to make.

 With Aim High Properties, home sellers can quickly sell their house for quick cash even with the title issues. All they need to do is inform the team about the title issues.

Why Aim High Properties, LLC?

With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties has been helping homeowners with various real estate problems. Why should home sellers choose Aim High Properties?

• A one-on-one relationship with customers to handle their unique situations
• Ability to directly purchase homes and make cash offers
• Offers a speedy and hassle-free transaction
• Purchases property as well as sells homes directly to buyers
• No commission

Besides these advantages for home sellers, Aim High Properties offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.

If you are looking for cash for houses or looking to sell your home fast in Cinnaminson, call (856) 861-6000 or email at info@aimhighprops.com.

Aim High Properties: Why Selling House From Another State Is Not Hard Anymore

 Challenges faced by out-of-state owners

Selling a home is a very stressful process, and selling it from out of state can send the stress levels off the charts. Aim High Properties shares the challenges that out-of-state owners face when selling their homes. The blog also offers a simple solution to make the selling process fast, fair, and hassle-free. 

Some of the reasons out of state owners sell their homes are:

• Relocated for work

• A deceased relative has willed the house to the new owner.

• The home seller is the executor of an estate.

• A parent living in the house is moving to residential care.

• A home seller is married and plans to sell the house and move elsewhere.

• An amicable divorce requires the two parties to dispose of the assets. quickly 

Whatever the reason may be, when selling a home from out of state, home sellers must consider the following factors: 

1. Hiring a Real Estate Agent or Broker

Real estate agents can manage the complete sales process for the house. They will most likely charge a commission of about 6% on the final price instead of an upfront fee. Homesellers will need to interview the agents before choosing one and give home selling instructions.

2. Preparing the house for sale

Besides a real estate agent or broker fee, various other expenses will need to be looked at: 

a. Repairs

Before the potential buyers visit the house, the house will need to be inspected for any necessary repairs. From dripping taps leaking roofs to dents in the wall, out-of-state owners will need to hire someone to manage these repairs. 

b. House clearance

An inherited house may be stuffed with many belongings that have no value. Hiring a junk clearing company to empty the house is a possible cost. 

c. Decorating

A DIY decoration project may not cost much, but it gets tricky when the owner is out of state. Out-of-state owners may choose to travel to the house to decorate, or they may instead hire someone else to complete the task. Time, money, and effort will need to be invested.

d. Staging

A staging event by the real estate agent or brokers helps get a buyer and a reasonable price. But it also means overheads such as a professional coming to the house to arrange it and furniture rental. To stage the best, owners may also need to spend the best penny.

3. Overhead costs

Even a new home in a prime condition would need some basic tending to when it has been lying vacant:

1. Vacant house insurance will cover the house from possible fire, hail, wind, lightning, storm, or water intrusion. Coverage for vandalism and theft can also be added. 

2. Utility bills – Although disconnecting utilities in vacant houses is possible, it is not advised.

3. Maintenance – Depending on the season and the age of the house, owners would need to maintain the curb appeal of the home with grass cutting, weeding the beds, and so on.

Selling a home from afar is possible. But it takes time, a lot of time. And many phone calls and emails to the person managing the sale. The costs may continue to pile up and eat up the house's equity.

Instead, out-of-state owners can quickly sell their houses for cash and without any hassle. Contact Aim High Properties for an expert house buyer who will visit the house and make a quick cash offer for the home as-is. No repairs, no staging, no negotiations, no commission, no delays!

Why Aim High Properties, LLC?

With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties has been helping homeowners with various real estate problems. Why should home sellers choose Aim High Properties?

• A one-on-one relationship with customers to handle their unique situations

• Ability to directly purchase homes and make cash offers

• It offers an extremely fast, and hassle-free transaction

• Purchases property as well as sells homes directly to buyers.

Besides these advantages for home sellers, Aim High Properties offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.

If you are looking for cash buyers or looking to sell your house fast in Cinnaminson, call (856) 861-6000 or email at info@aimhighprops.com.

Aim High Properties Explains What It Means to Sell a Fire-Damaged House

 Want to sell a fire-damaged house?

A fire can be a life-changing incident. Homes that are damaged by fire marginally or structurally not only disrupt the residents' lives but also have a long-term impact on the home value. Sometimes, the damage is covered by insurance and is minimal, whereas, at other times, the homeowner may be unable to claim damages that are simply too devastating. Aim High Properties shares how fires impact homes and their value and how homeowners can sell their fire-damaged homes for cash and literally move on.

A fire-damaged house, irrespective of the extent of damage, will have a lower market value and therefore must be priced accordingly by sellers. 

a. Surface damage: A fire that erupts quickly may cause little damage with only visible surface damage. Soot on walls, floors, or other fixtures and fittings are the likely consequences of such fires. This damage can usually be reversed by fire damage restoration companies and the cost can be claimed if there is existing fire insurance.

It makes sense to invest in restoration and repair of the house if the damage is superficial. Once the home is repaired, an appraiser can come in and value it. Generally, the repair helps maintain the overall sale price of the house.

b. Structural damage: This damage occurs with intense and long-lasting fires that destroy a house’s structural integrity by damaging support beams and other structural components.

Repairing and restoring this extensive damage may be out of a home seller's budget. Therefore, it would make sense to sell the house as-is. The market price of the house, however, will be lower depending on the extent of the fire damage.

Wildfire damage to home value

In the case of wildfires, local property values are affected in an almost uniformly negative way. Whether the house is burnt or not, the deal would plummet just by the house being in the area of a wildfire.

A recent study published in the Journal of Forest Economics indicated that property values in a community located two miles from a wildfire burn zone dropped by as much as 15% following the fire. Additionally, nearby house prices fell 10% after the first wildfire and then fell again by almost 23% after a second fire in the area.

Unfortunately, no one wants to live in an area struck by a disaster, and therefore, the prices for properties that remain untouched by fire still drop. 

Two ways to sell a fire-damaged house 

a. Hire a listing agent

Selling a house is a tedious affair and selling a fire-damaged home is even more stressful. Hiring a realtor can alleviate a great deal of this stress. From marketing the fire-damaged house to handling negotiations and helping close the deal, a realtor can smoothen the selling process. 

b. Sell to cash home buyers

Selling to a cash buyer is one of the swiftest ways to sell a house. Not only do they offer cash to buy the property, but they are also willing to take care of all repairs. This means the home seller doesn't need to repair the house to host a staging to buyers. The cash buyer usually finds information about the place from other resources, visits the property, and makes a fair cash offer within 24 hours. With full cash payment, no repair stresses, and swift closing, home sellers, can dispose of their fire-damaged houses and move into new places quickly.

They need to ensure that the buyer is reliable and has a strong history of purchases.  

Why Aim High Properties, LLC?

With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties has been helping homeowners with various speedy real estate problems. Why should home sellers choose Aim High Properties?

• A one-on-one relationship with customers to handle their unique situations
• Ability to directly purchase homes and make cash offers
• Offers an extremely fast, and hassle-free transaction
• Purchases property as well as sells homes directly to buyers

Besides these advantages for home sellers, Aim High Properties offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.

If you are looking for cash buyers or looking to sell your house fast in Cinnaminson, call (856) 861-6000 or email at info@aimhighprops.com.