Blog :: 01-2021

What Does Contingent Mean in Real Estate?

 

During your home buying or selling process, you’ve most likely heard or will hear the term “contingent.” A Waltham Realtor explains that in real estate terms, contingent is the status you’ll see on a listing where the seller has accepted a buyer’s offer. However, this accepted offer doesn’t necessarily mean it is sold yet. Offers that include contingencies have requirements that need to be met in order for the sale to officially close. If the contingencies cannot be met then the buyer can back out of their offer. 

Contingencies usually include a list of factors that need to be examined. When contracts are written during the home purchasing process, they often include all possible contingencies that may arise. Here are some examples of contingencies that need to be met in order to officially sell or purchase your Waltham Real Estate

Home Inspection

When purchasing Waltham Real Estate you’ll definitely need to get a home inspection done. A home inspection will check things like the plumbing, electrical amenities, the roof, and the home’s structural integrity. Home inspections are so important because if the home has a lot of issues that you were unaware of, an inspection will let you know. The last thing you want is to purchase a home and then find out after the fact that there is a lot of costly work that needs to be done. 

Financing

Most buyers will need to obtain a loan in order to buy a home.  During the financing process, the buyer will have to provide documentation to the lender to verify income and down payments, have their credit reviewed, and appraisal performed.   Once financing is obtained, they can proceed with their Waltham Real Estate purchase. 

Seller Repairs

During the home inspection, you may find issues with the home that you as a buyer, don’t want to be responsible for. You can sometimes request that the seller perform repairs or credit you for these repairs through your Waltham Real Estate Agent

A Final Walkthrough

After all the inspections and repairs have been done, it’s important to do one more walkthrough of the home before officially closing. A final walkthrough will let you see all the repairs and changes that have been made to make sure you accept them. 

Contact a Waltham Real Estate Agent 


Waltham Realtors will also suggest leaving some room in your budget for possible contingencies that arrive in the future. There are so many layers to the process of buying or selling Waltham Real Estate. This is why it’s ideal to have a Waltham Realtor to assist you every step of the way. Contact Hans Brings for all your buying and selling needs in Waltham.

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    What Are The Most Popular Features Home Buyers Look For?

     

    When people are ready to sell their home, they don’t always love the idea of making renovations or upgrades. This is because since they won’t be living there much longer, they don’t really want to spend money on things that aren’t going to increase their home value by a lot. This is why Waltham Real Estate Agents suggest making small upgrades and renovations over time. If you’re not quite ready to sell your Waltham home but you know you will be in the next few years, start making these upgrades now. This will allow you to be able to enjoy these upgrades while you still live in your home and they will also help catch the attention of potential buyers once you are ready to sell. 

    Keep in mind these popular features that buyers look for so that you can be ahead of the game and prepared for when it’s time for you to sell your Waltham Real Estate

     

    Hardwood Floors

    Most homeowners these days prefer hardwood flooring. Hardwood flooring is long-lasting, easy to clean and maintain, and also gives any space a cleaner and more organized look. So when it comes time for you to sell your Waltham Real Estate, switching to hardwood flooring (if you don’t have it already) will greatly benefit you. Waltham Realtors are always speaking to buyers about what they’re looking for and hardwood flooring is definitely something that is always brought up. 

    Open Floor Plans 

    Open floor plans are very popular these days as they come with a lot of benefits. They allow for an easier entertainment layout, increased natural light, and for parents with children, it’s easier for them to keep an eye on the kids while being able to get things done around the house. If your Waltham Real Estate doesn’t already have an open floor plan, it may take some extra work to make it happen, but if it’s something you’re interested in doing it’s guaranteed to stand out to buyers. 

    Stainless-Steel Appliances & Granite Counter Tops

    Renovating a kitchen is something new homeowners really don’t want to worry about. Waltham Realtors say that buyers tend to make higher offers on homes that have stainless steel appliances and granite countertops since they won’t have to upgrade those things themselves. 

    Energy Efficient Windows and Appliances

    Energy-efficient appliances and windows are things that all home buyers look for. Everyone always tries to cut costs in utility bills and so when a buyer knows that a home is energy efficient, it makes them more interested in that Waltham Real Estate

    Curb Appeal

    Waltham Realtors claim that curb appeal often makes or breaks a buyer’s interest in a home. If someone doesn’t like the outside of a home, it’s not likely that they’ll even want to take a look at the inside. Also, no one wants to purchase a home that looks like it’s not taken care of. By having great curb appeal on your Waltham Real Estate, it’ll be a lot easier to attract buyers. 

     

    Contact A Waltham Real Estate Agent 

    In conclusion, new homeowners don’t want to have to make all these upgrades and renovations right when they move so it’s likely that people will look for homes where these upgrades are already made. To make your selling process easier, try to have most of these upgrades and renovations done. While some of these features won’t increase your home’s value by a whole lot, it will definitely be a quicker and easier process to sell your Waltham home. If you’re looking to buy or sell your Waltham Real Estatecontact Hans Brings today! Hans Brings will assist you in the buying or selling process every step of the way.

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