The Terranova Team

  The thought of taking on the responsibility of selling your own property while cutting out the losses to an agent’s commission can be appealing and empowering for the right homeowner. Let’s maximize both your chances and returns by looking at these 5 mistakes homeowners make with FSBO listings in Delaware: Pricing There are few things that can damage your sales chances as much as missing the mark when initially pricing your property. It’s important to take into consideration the market value of surrounding, similar properties that have sold in the last few years when settling on a price. Choosing to go too low not only cuts into your returns but can signal to some buyers that there’s a terrifying reason you’re trying to cut and run from the property. On the other hand, pricing too high and then having to gradually lower your asking price over time sends the message that you could be expecting too much and could be unwilling to negotiate reasonably. Taking Thi...

  Consider this scenario. After months of searching, you’ve finally found your dream home, the one that checks all your boxes. So you make an offer, one that is reasonable and in line with market value. But then, to your disappointment, the seller rejects your offer. This scenario is more common than you might think in today’s seller’s market where inventory is low and demand high. There are, however, some things you can do to vastly improve the chances of your offer being accepted. Check out these 3 tips for getting your offer accepted when buying a house in Delaware. 1. Get Pre-approved and Provide Proof Maybe the best way to show sellers that you are in fact a serious buyer they should consider is to get pre-approved and then show proof of your pre-approval with your offer. Getting pre-approved for a mortgage lets sellers know that you can actually get the financing you need for buying a house in Delaware. Here’s how the pre-approval process typically goe...

  Besides all the technical jargon and legal terms, real estate involves more than a few concepts that are pretty confusing for most people. And this presents a problem for both buyers and sellers. If you don’t understand the concepts, you don’t really know what you’re getting into, and the chances of your getting less than a good deal increase dramatically. To help you out, then, here are some frequently misunderstood real estate concepts for buyers and sellers inDelaware explained. Prequalification vs. Pre-approval One of the  real estate concepts  that cause quite a bit of confusion (as well as financial disappointment) for buyers and sellers in Delaware is that of prequalification vs. pre-approval. Here’s a quick rundown of prequalification and pre-approval . . .  “When you get prequalified for a loan, a lender takes a quick look at your financial situation based on your income, debt, and assets that you submitt...

  There’s more than one way to strike a mutually-beneficial deal with a home seller and find yourself the owner of your new dream home. Let’s look at one of the often overlooked methods for purchasing a home by covering the pros and cons of using a rent to own agreement to buy a house in Delaware: Pro: Lowered Requirements When looking to rent to own a home, you’ll find that your credit score has less of an impact on things since you aren’t taking out a large loan.  On the other hand, you will need to provide between 2 and 7% of the agreed purchase price of the home as a non-refundable option, or premium, fee. Additionally, the ebb and flow of the real estate market could mean the property appreciates substantially while you’re renting it, and you could certainly come out ahead if you do end up buying the home. Con: Harder to Build Equity While you’re still renting, you’ll be paying your monthly rent along with a rent credit. Rent credits are a ...

  Over the last few years, new housing shortages coupled with inflated land and market values have led to a sharp uptick in the number of individuals renting properties rather than purchasing. Whether you’re wanting to understand how things work for someone renting a property or are in need of a remediation method due to an existing situation, let’s help make sure you know your rights as a tenant in Delaware. Check the Lease For current tenants, one of the simplest ways to determine if a set of circumstances can be dealt with quickly and easily is to carefully read through your lease agreement.  Your lease exists to cover both your rights as a tenant and the landlord or leasing company. If you have yet to sign your lease agreement, be sure to read through the entire lease before signing anything. Besides giving you an opportunity to fully understand the legal document you are signing, this also buys you time to think things over and ask questions if any...

Part of buying a new home is anticipating a reasonable timeline and adapting both your expectations and plans to make your move as easy and painless as possible. To help you get to the finish with the least amount of frustration, let’s go over how long it takes for a property to close in Delaware and why. The Big Picture Before we get too into the step-by-step process, let’s take a step back to have a look at the overall situation.  On average, it takes about a month and a half to two months from accepting an offer for a property to close. How rapidly your home purchase is completed will depend on a lot of things – some of which may be entirely out of your control. Keeping that in mind, you can do your best to plan ahead, but it’s always a good idea to have a Plan B if things begin to slow to a crawl.  With the basic time frame out of the way, we can begin to look into the steps that will happen on your way to closing on your new home. Offer &...

  Purchasing a home can be a time-consuming and stressful journey from start to finish, and having the right agent by your side can make all the difference. To get a better understanding of the ways hiring on some support can be beneficial, let’s look at how The Terranova Team - Keller Williams Realty can help you buy a home in Delaware using rent-to-own contracts.   Streamline the Search One of the more overwhelming parts of a home search is initially setting out to comb through the listings and find a property that both meets your needs and has that lasting appeal to you.  A qualified and experienced real estate agent is equipped to not only link you up with the homes that will suit you best but expand the options available to you from the get-go. Agencies have access to the Multiple Listing Service, or MLS, which is a gigantic database of every property on the market.  The MLS is certain to include some properties that you will have mis...

  Searching and finding your next home is always a big task, and ensuring you’re making any offers with the confidence of knowing you have a solid financial situation is a large part of the equation. Let’s make getting your finances in order a little easier by looking at 5 ways to cut costs when buying a house in Delaware. Clean up Your Credit The first step to getting your credit in spectacular shape is ordering your free annual credit report.  Once the report arrives, investigate every detail in it thoroughly to discover any potential errors and take an inventory of any outstanding debts – even those about which you may have forgotten over the years. You can then dispute any errors on the report with the corresponding credit agency while making a plan to pay down your debts, starting with the oldest debts first.  The goal isn’t to completely eliminate any and all debt, but to get it under control so you look better to mortgage lenders. Find ...

  Are you thinking about selling your Delaware house with the help of an agent? There are so many agents out there that it’s hard to know which one’s the right one. That’s why we’re sharing this blog post about how to find the right real estate agent that fits your needs in Delaware. Selling your house can seem like a daunting task, which is why many people turn to a real estate agent to help them. After all, a real estate agent’s job is to work on your behalf to help you sell your house! But there are so many agents out there and they all claim to be the very best! How can you decide which is the right agent for you? Here’s our recommendation about how to find the right real estate agent that fits your needs in Delaware. How to Find the Right Real Estate Agent that Fits Your Needs in Delaware Ask Around Ask around to your friends, family, and other trusted people to find out which agents are worth working with. Some people will ...