SPECIAL SECTION:
Real Estate
10. SELLING:
Don’t spend earnest money!
Many sellers make the mistake of depositing and spending
earnest money before closing day. If the transaction doesn’t go
through or the buyer pulls out due to repair issues, it is up to the
seller to return the cash. It is recommended to have a real estate
agent or broker hold the deposit. Most buyers’ earnest money
will be held in an escrow account until the closing day, allowing
the money to remain untouched by either party.
FUN FACT:
Get the name and numbers.
9. SELLING:
Will renovating always increase my resale value?
Make conscious decisions when renovating your home.
While newer will entice potential buyers, be cognizant of what
rooms you update and how you do it. While updated kitchens
will increase the value of your home, be sure to appeal to a wide
range of tastes. A good place to start is with the appliances.
Realtor.com states that homes with stainless steel appliances sell
15 percent faster than those without. Updated bathrooms are
easier to satisfy a wider range of buyers’ desires for luxury, but be
sure to keep the colors neutral.
Just when you think you’ve checked all the boxes for an easy
sell of your house, take a second look at your address. According
to Zillow, street names and house numbers matter! If you
happen to live at 666 Fanny Hands Lane, you may be out of luck
(however that particular street is in the United Kingdom, so
you should be safe). Innuendo-laden street names tend to not
sell as quickly as something more like Thunder Road. American
numerology says that 666 is bad luck and could decrease the
value of your home by 2-3 percent. Also, steer clear of the
number four, considered unlucky in Chinese culture. Stick to
the number eight, or include the lucky digits 316 in your asking
price!
Before entering the real estate market, educate yourself. The
more you know, the better your chances are for nailing down the
home of your dreams! ■
CARLYNTON-MONTOUR
❘
SUMMER 2019
25