Real Estate Risks to Buy or Sell a House

Typical real estate sites are about the Realtor®, their company and homes for sale. This site is about what you need to know to buy and sell homes without unnecessary risks.

This information is relevant in any locale but specific to the state of Pennsylvania. The detailed information for ‘how to’ may not apply to the letter for your locale – but it will be a fantastic start for you to ask the most relevant questions at the appropriate time.

Please remember Realtors® are not lawyers. This is an ancient battle that Lawyers claim Realtors® act as lawyers. The Pennsylvania Association of Realtors (PAR) resolved this by hiring their own legal team to write and vet all the forms for general understanding and warning the Realtors® not to change a word or a phrase. Each PAR document eliminates any necessity for the Realtor® to write anything original. We just pick all the correct documents and carefully fill them in to protect our client.

The wording in all the PAR forms treats both the Buyer and Seller fairly. Buyers seem to have the advantage with many of the contract items. However, the Buyer initiates all correspondence and must take action if the Seller does not respond. The Seller is the final reviewing authority (last to sign all documents). You should become familiar with these forms for your protection before you start any real estate transaction. Reference the agreement of sale before you search, during the transaction and for settlement. Your protection throughout the transaction is my goal.

The detailed information is for reference unless you require an in-depth explanation of all the minutia. Your goal should be to understand the steps of the process in order to identify your risks and be able to ask your Realtor® and team members those important questions that will protect you.

This information is not to prepare you for a real estate licensing exam or to provide any legal advice.

Free Information to Buy or Sell Real Estate

This free information gives you the process for buying and/or selling residential real estate. This type of site without my name or my company’s name is termed “unbranded”.

Buyer How To Purchase Starts with Buyer Finances

Information for buyer how to purchase a house starts with a buyers’ need to: understand the process, know some terms and jargon, realize the costs involved and deal with the stress.

Buyer Preparation

Buyer preparation for a residential real estate transaction is an absolute necessity. Buyers must depend on and work with a <b>team</b> they trust for a successful transaction.

Dreams vs Mortgage Dragon

Mortgage dragon is a three headed company: first head is the mortgage salesperson, second is the underwriter and last is the appraiser. This dragon will follow you through out the transaction.

Choose A Realtor

There are several stages to choose a Realtor to help you find a house. Even if your most trusted friend referred this Realtor ask these questions in the areas of concern to you.

How to House Search

Buyers house search really is much deeper than the features or physical property and is different for everyone. So what should the buyer know before they start the search?

Agreement of Sale for Residential Real Estate

An agreement of sale begins as a proposal from a buyer to purchase a property from an owner for a set price contingent on all the terms and conditions shown. Then the real work begins.

Part 1 - Identify Parties

The purpose of the front page is to identify parties of the agreement describe and identify the property and describe the buyer(s) and seller(s) relationship to their real estate brokers and agents.

Part 2 - Mortgage Contingency

The mortgage contingency addressed, the most important for the Buyer to complete properly and the longest timeline to complete of all the contingencies.

Part 3 - Contract Contingencies

Contract contingencies reduce the Buyer’s risks. Sellers approve of all the proposed items before signing the Agreement. When all these inspections are complete the house is then “Pending” settlement.

Part 4 - Additional Stipulations

These additional stipulations are statements that both the Buyer and Seller must adhere. Even with the legal sounding terms, Realtors® still are not lawyers and do not offer any legal advise.

Part 5 – Acknowledgment

The Seller acknowledgment is made by initialing and dating each change agreed to then signing and dating the Agreement. Now the agreement is a binding contract.

My Homeowner Association

This is about my unsuccessful struggle, as a Board member of my Homeowner Association, to have our experienced Board of Directors follow the Bylaws and use common business sense.

Hire GREEN Contractor

Hire GREEN contractor with a system developed through experience will identify your risks to insure your home <strong><span style="color:#006600</strong> construction project meets your expected results.

Construction Risks

The most common construction risks include injury, workmanship, materials and delays. GREEN remodeling projects have their own additional quirks.

Work With Contractors

Every time you decide to work with contractors for a home improvement project, know there will be construction risks. Changes to the scope of work could lead to a triple play.

Your Involvement

Your involvement with your home remodeling contractor in the past was minimal. You now call this same contractor, but now you want to be more involved.

Start Planning

Start planning your home improvement project by visualizing the results you want. Your home improvement project is a one-time effort that you do not have a second chance to do correctly.

First Meeting

Your first meeting with the contractors is for those contractors you chose to ask for their bid. This is the next step in the process after your planning and preparation is complete.

Bid Evaluation

Bid evaluation is the beginning of how you chose the contractor to award your GREEN remodeling project. ? Important as price is for every one there are many other factors to consider.

Trees and Shrubs in Your Yard

Trees and shrubs in your yard should beautify and add value to your property. Whether established landscaping or just starting, do not ignore or create a hazard.

Problems

Genetics determines the problems you will have with your trees and shrubs. Plan your landscaping to balance their fully-grown size, seasonal colors, and their shortcomings.

Insects and Diseases

Our Native American species survived for millions of years with the ravages of our native insects and diseases. More recent events show an acceleration of different infestations.