Closing Escrows On Homes In Sacramento
Closing escrows on homes in Sacramento lately has not been easy, but they are closing. Repairs have been complicated as have the requests for repairs. During Covid19, some buyers are asking for repairs. Depending on the property, some sellers with motivation to close are being more patient by offering to complete some repairs and / or offer credits.
Of course, credits are the preferred way for a seller; however, some things cannot be fully diagnosed without opening up the ground, such as a septic inspection and repair in Sacramento rural real estate. Also, pest inspections requiring further inspections can go on and on without fully definitive answers.
Pest Inspections And Repairs
Some foundations have to be dug out to obtain access. In such cases, a large credit may be needed to satisfy a buyer. When you have a difficult buyer’s agent and a bit of a challenging market, the combination can require some sellers to make concessions that they typically would not make. That being said, if a good purchase price is obtained there may be a sufficient cushion to make some repairs or credits. It is a good time to sell as buyers who are serious are out looking to buy.
So, we are closing escrows on homes in Sacramento; however, the workload on seller’s agents has increased tenfold. Out-of-area sellers of previous rentals often require a Realtor to act as a property manager. We are dealing with so many extra tasks during Covid19. We hope soon to have fewer limiting showing instructions in Sacramento for seller-occupied property.
Sellers Need Results
Sellers can become impatient for results when they have fewer showings, which is completely understandable. Properties priced correctly are selling, and that is not new in any market. This is not a time to overprice as properties will simply not be shown during COVID19 if buyers do not see the value. We have less inventory now than historical averages. If you are a buyer, it is a time to get busy and hire a top notch Realtor to represent you in the hunt for a fabulous property. Especially since interest rates are lower than they have been for decades.
There Is Opportunity
There is opportunity for buyers and sellers during these times. One of our exclusive buyer’s agent was able to help a buyer to purchase a property for $50,000 less than asking, which made the buyer very grateful. Another listing with challenging inspections (but an entry-level list price), we helped our seller to obtain a top price. Some properties are, of course, selling for full-price and within a few days.
We have been able to put properties in escrow and close them, no matter what the challenges. If you are interested in selling or buying a home, call Weintraub & Wallace Realtors with RE/MAX Gold today. We can be reached seven days a week at 916-233-6759.
— JaCi Wallace