Address: Sept. 13, 2015

Page 1

PRESIDENT’S COLUMN

September 13, 2015 IN THIS ISSUE

Leah Cox is president of the Waco Association of Realtors and is associated with Kelly, Realtors

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Think you sold your house? Not so fast Real estate transactions that start out fine can unravel for any number of reasons. Even with a signed contract, problems can crop up at various points along the way to closing. But when you’re aware of what can go wrong, you may be able to avoid such problems. Here are a few to watch for. The buyers change their minds The residential contract includes a termination option, which allows a buyer to pay a fee for the right to back out of the contract within a certain number of days. If your buyers paid for this option,

they can terminate the contract for any reason—or for no reason at all—during the time specified in your contract. An inspection reveals issues Speaking of the termination option, most buyers hire a professional inspector during this period to examine the home and identify problems. If an inspection turns up something significant in the minds of the buyers, they could terminate the contract or request changes to the contract, such as a price reduction. The buyers can’t get a loan

Unless the buyers are paying cash, they need a mortgage loan. Even if they’re been preapproved for a loan, the buyers could still fail to secure final approval. There’s also the possibility for issues with the appraisal. If the property isn’t worth enough to guarantee the amount the borrowed, that could torpedo the loan approval. That’s not all As you can see, there are many reasons a promising real estate deal may not make it to closing. Add the following causes to the list above: • Agreed-to repairs

that the buyer deems unsatisfactory or incomplete • A surprise during the final walkthrough of the home, such as an item that was supposed to convey that is no longer in the home. • Default, such as the buyer deciding to walk away and accept the penalties for doing so outlined in the contract. Your Texas Realtor can help you avoid these scenarios and give you good advice when a potential deal-killer arises.

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6600 COSTA

41 SUGAR CREEK PL

TO OP DA EN Y1 -3

3915 WATT AVE

Waco

Woodway

Waco

Very charming, updated 3bdr/2ba, 2 living area home. Convenient to downtown, Lake Waco, Baylor McLane Stadium. Great potential for starters, investors, Game Day fans. Gorgeous hardwood floors, wonderful fresh paint, lots of natural light thruout. Front living area has beautiful, non-wood burning FP. Built-in shelves & french doors in large 2nd LR. Brand new stainless sink and counter top in roomy, bright kitchen. Large fenced backyard with great wood deck. New energy efficient windows in 2012. $112,500

Gorgeous home in Midway ISD on a corner lot. S Stone and brick beauty with downstairs master and 2 lovely living areas. 2 bedrooms up that are a great size. Home has been beautifully landscaped both front and back. The backyard has a timber tech deck and great storage shed. Many upgrades throughout. Bright and open kitchen with great cabinet space, many windows and large breakfast area. Great home! $189,900

Beautiful Contemporary Home Located in Gorgeous Sugar Creek. This home has it all. Huge Master Bedroom down stairs. A completely updated Chefs Kitchen with granite, new stove top, oven, dishwasher, garbage disposal and more. Buy the way this home is unbelievably priced at only $80 a square foot ea. $198,640 which is exceptional for the area.

Barbara Williams

The Camille Johnson Group

Syndi Slaughter

Coldwell Banker Jim Stewart, Realtors

Coldwell Banker Jim Stewart, Realtors

RE/MAX Centex, Realtors

254.717.1115

DA OP YS EN AW 7 EE K

BEAUTIFUL ACREAGE

McLennan County

Land Tracts from 5 tto 30 A Acres E Each! h! Example: 5 Acres as low as $49,500. $995 down and only $355 a month! Example: 18 Acres as low as $99,000. $995 down and only $635 a month! Trees, ponds, views and special discounts for Texas Vet Financing. Located 20 minutes from Waco. Call today for your private showing.

Blue Cut Ranch

254.776.7000 or

254.709.9908

254.744.3858

254.717.1349


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