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
those 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! n
West Mifflin | Summer 2016 | icmags.com 17