What is a home inspection contingency?

A home inspection contingency is a legal document included in a purchase agreement that states the purchase agreement is valid contingent upon upon a home inspection. For example if you receive an offer on your house and included in the paperwork is a home inspection contingency the buyer will have a set time period to either inspect the home thoroughly himself or with the help of a professional home inspection company. The home inspection company will compile a report describing the condition of the house. Upon viewing the inspection report the buyer has the opportunity to either agree to remove the contingency and accept the condition of the house as reported by the home inspection company, renogotiate the current terms of the purchase agreeement due to the findings in the home inspection report, or cancel the purchase agreement all together.

Does a swimming pool add value to a home?

It depends where you are. Perhaps in California it would but, here in Omaha a swimming pool does not add value to a home. If you do decide to add a swimming pool do so to enhance your home lifestyle, not for finiancial gain down the road.

How long will it take my home to sell?

Number of days on market depends primarily on three points:

1. Location

2. Realtor Marketing Strategy

3. Value (or the value your home offers to a potential buyer in comparison to other homes in the same area with similiar specifications i.e. price point, closing costs paid, home warranty, down payment assistance program, etc)

Are open houses a good idea?

They certainaly aren't a bad idea. Depending on the market and location of the house sometimes fifty people will show up, sometimes no one will show up. Furthermore, more than likely you will not sell your house off of an open house. Attracting Realtor's with potential buyers to view the property is the best and easiest way to sell your house. But, holding an open house is recommended and can only help, not hurt so long as you do not hold it open too often. Once a month is the recommended amount.

What is the best way to set a price on my home?

Your sales price will be based on three variables:

1. Sales of comparable homes within a reasonable time period and similarly located.

2. Your financial situation with the house.

3. How quickly you wish to sell your house.

An experienced Realtor will be able to help you balance all three variables in order to come up with a reasonable sales price.

MikeKnowsOmaha can help you with all of your Omaha Real Estate needs.

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