Dear Landlords and Investors,
The principles of leverage, supply, demand, and ROI still push appreciation. San Diego has proven to be a wise location for your investment dollars. But, don’t become complacent. Don’t lose track of why you are investing, regardless of how successful you are. Dealing with unexpected issues can make or break your business. So of course, you’re right to want to understand how the current market affects your property values. You deserve expert guidance. Here are details on what you need to know now:
We know. Some of you haven’t sold a property in decades out there. So here’s a primer of what happens when you sell now.
This being the 21st century the number one thing for a seller is…. Disclose, Disclose, Disclose. Your duty is to disclose all known material facts about the property. All known issues, repairs, improvements, quarks, etc. The good, the bad, and the ugly.
We like to have our sellers fill out all the disclosures when it’s listed for sale. That’s the big item to get out of the way right at the beginning of your transaction. 30-day escrows go by pretty fast. With lots of timeframes and contingencies to keep track of.
Buyers have 3 days to get their good faith deposit into escrow. They have 17 days to investigate property condition. And, if they are getting a loan, get 17 to get their appraisal completed. Those are all pre-printed in the contract. Many agents speed those time frames up. Reason is, it’s always good to know if a buyer is going to perform sooner, rather than later.
During that time buyers will have a property inspection. DO NOT sweat the buyer’s inspection. Remember the buyer is paying $$$ for someone to find problems with the property. You’ve disclosed everything you know about the property. So, let them investigate. You want them to be sure it’s the right fit for their needs.
Remember the Goldilocks story? Not too big. Not too small. Just right!
When it comes to a request for repairs. We know how to manage expectations. We keep everyone focused on the health and safety items only. This isn’t the time to work with a buyer’s Christmas wish list of changes. Per the signed contract the buyer agreed to buy the property in present “as is” condition.
The next step is for us to meet the appraiser at the property. Their job is to verify condition, measure the exterior and interior. They are looking for health and safety issues as well as CO2 and smoke detectors. And they will verify that the water heater is properly strapped. We like to provide comps for closed sales in the neighborhood. Ones that support the sales price. An appraiser is at a property for 30 minutes or so. No big deal if you know what they are looking for upfront.
Once the buyer receives final loan approval things go into motion. They sign loan docs, their funds are wired into escrow, and they perform a final walk-through if needed. You transfer all utilities and wait for the buyer’s loan to fund and record title. Yes, it can truly be that easy!
Every transaction we work on is different. Even though the steps are all the same. Different issues arise. But they are taken care of. After closing over 1,000 transactions in our careers we are experts at taking care of issues. And do it with as little stress and cost to you as possible. Experience and expertise are always in your favor.
Our successful system speaks for itself! And it’s lots of fun setting the new benchmark for property value in a neighborhood. Plus our sellers love it too! Let’s talk about how we can help you get top dollar in this seller’s market.
• Be sure to visit our YouTube channel, San Diego Investment Property. This channel keeps you connected. We’re happy to help you navigate the income property world here in San Diego!
• Please let us know who you can refer us to. Someone you know who can use what we offer.
• Stay current with the latest real estate news and market conditions. Send your current email and phone number to firstname.lastname@example.org.
• We’ll set you up for monthly neighborhood market updates and a new app called Homebot. It’s a personalized home finance tool. Homebot helps you manage your biggest asset, your home!
IT’S TIME FOR YOU TO GET THE ROI YOU DESERVE.
You’ve worked hard for what you’ve earned, and you’re right to want the best experience. Be confident you have professionals on your side. We use ROI-based marketing. Rest easy knowing we use an organized system to market your property. Employing our highly targeted and proven approach like no one else is what you deserve!
Thinking of selling your property in the next 12 months? Call us today for your strategic marketing consultation at 858-218-4511.
Send us like-minded property owners you know who want to buy or sell. We promise we will take great care of them.