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Residential Real Estate Archives

Is it legal to reject an offer to buy my home?

There are many factors that go into a homeowner's decisions to accept or refuse an offer to buy. However, some sellers in Delaware might be worried that they have to accept the first offer they receive, even if the amount falls short of what they are hoping for. While it is true that rejecting an offer because of a buyer's race or other protected status is illegal, there are many legitimate reasons one might reject an offer.

Common residential real estate mistakes to avoid

A new homeowner's worst fear might be discovering something seriously wrong soon after buying a house. This could be a physical defect with the property or financial issues related to the mortgage and budget. However, home buyers in Delaware can potentially avoid this type of situation by watching out for common mistakes in the residential real estate process..

When might earnest money not be refundable?

Ready to buy a home in Delaware? Those who are need to be prepared to put down earnest money to get the house taken off the market in order for it to be appraised and inspected before the sale goes through. Just be careful when agreeing to pay earnest money, as it may not be refundable if one decides not to buy the property.

Disclosures matter when selling residential real estate

Selling a home can be a very stressful experience. When needing or wanting to sell a home as quickly as possible, one might be tempted to leave potential buyers in the dark about any problems with the property. In Delaware, disclosures matter when selling residential real estate. Those who fail to be honest could end up hurting the sale or finding themselves in some legal trouble after the deal goes through.

Avoid these mistakes when shopping for residential real estate

Buying a home for the first time is an exciting experience. Of course, it can also be difficult to navigate the world of residential real estate, which is why many people choose to work with real estate agents. However, it is still important that potential homebuyers in Delaware avoid certain mistakes.

Inspections important when buying residential real estate

Buying a home is an exciting step for a Delaware family. Whether it's a first-time residential real estate purchase or a subsequent one, it is critical for a buyer to be cautious throughout this process. Before signing the final purchase agreement, a home inspection can help a buyer know exactly what to expect after moving in or reveal problems that could lead to financial loss down the road. 

Include this contingency in a residential real estate contract

Buying a home here in Delaware should be an exciting and joyous experience. It can be, but there are still numerous items to address before the deal can close. One of them is making sure the home does not have any significant defects that could end up costing buyers in the future. For this reason, they ought to seriously consider a home inspection. However, more than that, they should consider a home inspection contingency in their residential real estate contracts.

What to know about down payments

Those who are looking to buy a home in Delaware or any other state may need to make a down payment as a condition of getting a mortgage. The down payment is simply the amount that a buyer contributes to the purchase price when the transaction closes. Buyers can use savings, money acquired after selling assets or other sources of funding to make this payment.

It's important to research a neighborhood before buying a home

Prior to purchasing a home in Delaware, buyers are encouraged to learn more about the neighborhood it is located in. They are also encouraged to learn more about the town or city where the home is located. This can help an individual feel more confident about his or her decision to make an offer on a home. Ideally, those who are looking for a home will find out ahead of time if there are young children in a given neighborhood or a high rate of crime.

What to consider when buying a home on a busy street

Homes on busy streets in Delaware and throughout the country are often seen as less than desirable. However, there may be good reasons to purchase a home in an area that is highly active. For instance, it could be closer to a major highway or a bus line. This can make getting to work, school or local attractions faster and less stressful. It can also be closer to grocery stores, which means that an individual won't have to travel several miles just to get milk.