This post is part two of our series on the similarities and differences between Missouri and Illinois, and what they mean for finding a house in the St. Louis Metropolitan area. You can read our first post on the differences between the two states here.
The Mississippi River might seem like a huge barrier between Missouri and Illinois, but it’s actually less than a mile wide. The two states share a lot of traits, especially in terms of real estate. If you have ever considered buying a home across the river—whether that means going east into Illinois or west into Missouri—the real estate process is mostly the same. But there are a few differences worth noting.
As we write this, real estate is experiencing a strong seller’s market. Not only is it easy to find a buyer in almost every part of the country, but bidding wars are also common. But before sellers get too excited about their profits, they need to remember that they won’t simply walk away with the sale price minus the balance left to pay on their mortgage. They must also consider seller closing costs.
You’re about to form a very meaningful relationship. No, we’re not talking about dating or getting married. We’re talking about the kind of partnership you need with your real estate agent when you decide to buy or sell a house. And while you’re not committing to spending a lifetime with them, the bond must be one based on trust and communication.
Two things you can always count on at this time of year: A recap of the past year, and predictions about the one that’s about to begin. Since 2020 was...let’s call it unpredictable...forecasts for 2021 are sure to generate a lot of interest.
Humans have a hard time dealing with change, so it’s not a surprise that relocating to a new home can be anxiety-inducing. That upheaval is one reason why selling a house can be stressful. The other big factor is not having any control over the outcome.
You planned to put your house on the market in June or July. Suddenly, it’s October and you’ve missed that traditional spring/summer window. As the days turn cooler, homeowners might wonder if selling a home in winter is really harder, or if that’s just a myth.
If there’s one thing that a client asks their real estate agent to do, it’s to sell their home fast. But really, they are asking the agent to do two things at once: Sell that house fast AND sell it at a price that the client is comfortable with.
And sometimes, those two things are in tension.
You’ve found the perfect house, and it’s “For Sale by Owner.” What does that mean for you as the buyer? The experience of buying directly with a seller is a bit different than dealing with their real estate agent. That’s not necessarily a bad thing, but it is something to prepare for. Here’s everything you need to know when buying a home For Sale by Owner (FSBO).
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