The Results Team's Blog
When a house is sold, it’s generally expected that the seller will take all of their personal belongings along with them. This includes furniture, pictures, cleaning supplies, and appliances that weren’t included on the deal. This is all in the expectation that the buyer will have a clean property to move into.
If a seller does leave personal property behind, what are the rights of the buyer? Buyers may wonder if they can move in and actually take possession of the home if belongings have been left behind. There are a few reasons that buyers may leave property behind including:
- The item is actually a fixture and not considered personal property
- The item could belong to a tenant (or former tenant)
In these circumstances, each state determines different rights and procedures that must happen in order for the property to be secured without hassle by the buying party.
What If There’s So Much Stuff It Impedes On Moving In?
In the case that a seller has left so many things that a buyer cannot even comfortably move into the property, the contract may be refused. If there’s an inordinate amount of furniture, trash, and personal belongings, you certainly have a good argument to not sign the final contract for the property. Your rights as a buyer do, however, depend on what exactly was written into the purchase contract for the home you’re buying.
If an item has been deemed hidden or buried, the buyers have a different circumstance on their hands. Many times, a buyer is obligated to hang onto these items for the seller. The items were not technically abandoned by the seller to the buyer. The buyer becomes what is called a “bailor,” or a keeper of the property, who needs to be an agent in the change of possession of the items.
If the ownership of an item is unknown, the terms of the contract are held up. Standard contracts generally state that any items left behind by the seller have been forfeited to the buyer. If the contract says nothing about personal property, the buyer generally takes on the role of “bailor” again in this instance.
If The Property Owner Has Died Or The Property Has Been Abandoned
If a property has been abandoned due to foreclosure or bankruptcy, or the property owner has died, any personal property that is left behind is a bit more of a risk for both parties. These circumstances generally state that a buyer will be taking on a property “as is” and essentially anything left is the buyer’s problem.
If a property owner has died, the executors generally take on the responsibility of removing items from the property to be distributed to the rightful beneficiaries. Occasionally, this process doesn’t work out due to family quarrels. In this case, personal property of the seller goes into the category of forfeiture.
Personal property is just one reason why you need to understand your legal rights when you’re buying a home.
If you receive an offer to purchase your home, you may have only a limited amount of time to decide whether to accept this proposal. As such, there are several factors you'll want to consider to determine whether to approve an offer to purchase your home. These factors include:
1. The Price of Your Home
If you established a competitive initial asking price for your home, you should have no trouble determining whether an offer to purchase falls in line with your expectations. Thus, if an offer to purchase your home is at or above your residence's initial asking price, you may want to accept a buyer's proposal and move forward with a house sale.
Of course, if an offer to purchase your house falls below your residence's initial asking price, you should still evaluate the proposal closely. If you feel the offer to purchase is the best proposal you might receive, you may want to accept it.
2. The Current State of the Local Housing Market
Examine the current state of the local housing market – you'll be glad you did. If you discover you are operating in a buyer's or seller's market, you can assess an offer to purchase your home accordingly.
If you find a buyer's market is in place, you may be more inclined than ever before to accept a competitive offer to purchase your home. Because in this market, the number of sellers exceeds the number of buyers, and rejecting a homebuying proposal does not guarantee you will receive better offers to purchase in the near future.
Comparatively, if a seller's market is in place, you may want to take a wait-and-see approach to any offers to purchase your residence. In this market, the number of buyers exceeds the number of quality houses available. As a result, you may receive dozens of offers to acquire your residence if you wait for the local housing market to develop.
3. Your Home Selling Goals
You should feel good about accepting an offer to purchase your house. Therefore, if an offer to purchase enables you to achieve your home selling goals, you may want to accept it sooner rather than later. By doing so, you can take the next step to finalize your house sale.
As you debate how to proceed with an offer to purchase your house, you may want to consult with a real estate agent too. This housing market professional may be able to offer housing market insights that you won't find anywhere else. Plus, he or she can provide honest, unbiased home selling recommendations. And if you ultimately decide to accept an offer to purchase your residence, a real estate agent can guide you along the final stages of the property selling journey.
There is no reason to settle for a subpar offer to purchase your house. But if you consider the aforementioned factors, you can make an informed decision about whether to accept, reject or counter a homebuying proposal.
Let's face it – selling a home may prove to be a long, arduous process, particularly for those who are listing a residence for the first time. Fortunately, we're here to help you simplify the home selling journey and ensure you can enjoy a pleasant home selling experience.
Now, let's take a look at three tips to make the home selling process quick and easy.
1. Evaluate Housing Market Data
The housing market frequently changes, and a seller's market today may transform into a buyer's market tomorrow. However, if you analyze housing market data, you can understand real estate segment trends and map out your home selling journey accordingly.
Take a look at the prices of recently sold houses in your city or town. This information can help you differentiate between a buyer's and seller's market.
Also, evaluate the prices of local houses that are similar to your own. This data will show you how your residence stacks up against the competition.
2. Hire a Home Appraiser
Although you might have received a great price for your house a few years ago, the value of your home likely has changed. As such, you should conduct a home appraisal to receive an accurate property valuation.
A home appraiser will look at your house's exterior and interior, along with assorted housing market data. Then, this appraiser can provide you with a valuation of your property. And once you have a property valuation in hand, you can determine how to price your house.
In addition, it often helps to complete a home inspection prior to listing your residence. Because if you perform a home inspection today, you can identify and correct any home problems that otherwise may slow down the home selling process.
3. Collaborate with a Real Estate Agent
If you're unsure about where to find housing market data or how to hire a home appraiser, there's no need to worry. Real estate agents are available in cities and towns nationwide, and these housing market professionals will do whatever it takes to help you sell your house.
A real estate agent is a housing market expert who is available to assist you in any way possible. For instance, if you need help pricing your house, a real estate agent can make it easy to establish a competitive initial asking price. Or, if you are debating whether to accept or reject a buyer's proposal, a real estate agent can help you make an informed decision.
Let's not forget about the comprehensive support that a real estate agent provides in the days and weeks after you accept an offer, either. This housing market professional will keep you up to date about a home purchase agreement as closing day approaches. And if you ever have home selling concerns or questions, a real estate agent is happy to respond to them.
Ready to list your residence? Take advantage of the aforementioned tips, and you can increase the likelihood of a fast, simple home selling journey.
When it comes to selling a house, there is no need to make rash decisions. Instead, you should review your home selling options closely so you can make informed choices time and time again.
There are many factors to consider as you review your home selling plans, and these include:
1. Your Home's Condition
How your home looks to buyers may have far-flung effects on your house selling experience. If you allocate time and resources to upgrade your house's appearance, you could boost the likelihood of enjoying a fast, profitable home selling journey.
First, you may want to upgrade your house's curb appeal. You can mow the lawn, trim the hedges and perform other home exterior upgrades to bolster your house's curb appeal and differentiate your residence from other properties.
You should clean each room of your house, too. That way, homebuyers may be more likely than ever before to fall in love with your residence as soon as they walk through your house's front door.
2. The Current State of the Housing Market
The current state of the housing market may dictate how you price your home. If you analyze the local housing sector, you can set a competitive initial asking price for your residence.
Take a look at available houses in your city or town that are similar to your own. You then can use this information to establish a price range for your residence.
Also, find out how long recently sold houses in your area were available before they were purchased. This housing market data can help you determine if the current housing market favors buyers or sellers.
3. Your Home Selling Goals
Consider what you want to accomplish during the home selling journey. By doing so, you can map out what you will need to do to achieve your home selling goals.
For instance, if you want to sell your residence as quickly as possible, you may want to establish an aggressive initial asking price for your home. On the other hand, if you want to optimize your home sale earnings, you may want to consider myriad possibilities to promote your residence to as many potential buyers as you can.
For those who want to review their home selling options, you may want to collaborate with a real estate agent as well. In fact, with a real estate agent at your side, you can get the help you need to streamline the home selling journey.
A real estate agent offers comprehensive insights that you can use to accomplish your desired home selling results. Plus, he or she is ready to respond to your home selling concerns and questions. And if you are unsure about how to navigate the home selling journey, a real estate agent can provide guidance to help you make informed decisions.
Ready to list your residence? Consider the aforementioned factors, and you can plan ahead for all aspects of the home selling journey.
Although a slow, gradual approach to selling a house often proves to be ideal, there may be instances when you need to work quickly to list your home. In fact, some of the primary reasons why an individual may try to accelerate the home selling process include:
1. You are planning to move to a new house right away.
If you recently submitted an offer on a house that is contingent on selling your current residence, you may need to act fast to sell your present home. Otherwise, you may miss out on the opportunity to finalize the purchase of your dream residence.
For home sellers who face a time crunch, there is no need to worry. If you collaborate with a real estate agent, you can get the help that you need to enjoy a quick, seamless home selling experience.
Typically, a real estate agent will learn about your home selling goals. This housing market professional then will craft a strategy to help you sell your house within your designated time frame. That way, you can boost the likelihood of getting the best-possible price for your residence, regardless of how much time is at your disposal.
2. You know exactly what your house is worth.
A diligent home seller likely knows all about the condition of his or her residence. Thus, this seller should have no trouble setting a competitive price for his or her house, increasing the possibility of a fast home sale.
To determine a "fair" value for a home, it generally helps to conduct a house appraisal. During an appraisal, a property expert will examine a residence and provide a valuation. Next, you can use this valuation to establish a competitive price for your house.
Also, it may be beneficial to complete a home inspection prior to listing a residence. An inspection will help you identify any "hidden" home problems and ensure you can address these issues before they escalate.
3. You understand the local housing market.
The real estate market can be complex, particularly for home sellers who face pressure to sell their residences as quickly as possible. Luckily, a home seller who knows the ins and outs of the housing market can improve his or her chances of achieving the best-possible results.
To learn about the housing market, you may want to consult with a real estate agent. In addition to guiding you along the home selling process, a real estate agent can teach you about the local housing market. By doing so, a real estate agent can help you make informed decisions at each stage of the home selling journey.
Furthermore, a real estate agent is available to respond to your home selling concerns and questions. And if you're ever uncertain about whether to accept an offer on your house, a real estate agent is happy to provide expert recommendations.
Want to list your house? Plan ahead as much as you can, and you can quickly navigate the home selling cycle.