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What is a Contingency?

  In my last blog I discussed what Pending means in Real Estate and I stated:   Anytime I say Pending, it means the house is under contract. Either with a contingency or not, the house is more than likely going to another buyer. It's just a matter of time until it closes and the new homeowner will be moving in. So what is a contingency?  Well a contingency in a contract is anything that must be first met to allow the sale to continue in the manner in which the contract was written. Most contracts have standard contingencies to include a home inspection, a financial contingency and an appraisal contingency. Other contingencies could include a home sale.  Home Inspection Contingency: This contingency allows the buyer to preform a home inspection (all home inspectors in the state of Virginia must have a license) and the buyer has the opportunity to ask for repairs in order for the contract to move forward. Sellers at this time can a couple of things. Repair all items Repair some it

Paint Colors That Sell Your Home

I tell clients to pack away most of their personal belongings when getting their home ready for market but do you know what is the most important thing you can do to make sure your home stands out from the rest?
Olivewood at Lowe's is one of my all time favorite neutral. 

PAINT!

Many people looking to purchase a new home are not in the mood to spend thousands of dollars of their hard earned money on a new home and have to come in and paint. Most want to move their stuff in and start living.

When you don't paint your home, people tour it and know right away they are going to have to move in and get to work. Do you want to get to work when you move? You are already exhausted from packing, dealing with the moving company and praying you close on time. Now add the thought you are going to have to put on your painting clothes and get dirty. Most of the time people keep looking or know they are getting a fixer upper.

The return on your investment is much more when you do the work for your buyer. Yes it will cost you a bit of money beforehand but instead of your buyer trying to take the price off the top of the asking price, giving them a clean slate when it comes to your walls, will pay off in the long run.

So what colors should you painting your walls?

The Basic Rule of Thumb: Neutrals

Of course your daughter wanted a bright pink bedroom! You may have even helped her pick it out but the newest owner may not even have children. They don't want to move in a paint your daughter's pink room. Neutrals are great but be wary of yellow neutrals or dark neutrals. Gray neutrals are a great color because most peoples furniture goes with these shades.

Make sure all dings, marks and chips have been touched up. This gives the owner the feeling of a well cared for home. Just think of what you want to move into. Do you want to move into a home with a large gash in the wall you have to deal with. Well, your new owner doesn't either.


Colors to Stay Away From:

Reds, Oranges, and Yellows. Greens, purples and blues should all be in a light shade but not pastel.
Thinking about white? Save it for trim.


Leigh Ann Fisher
Liz Moore and Associates
leighannfisher@lizmoore.com
757-784-3230







Comments

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