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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.
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! ■