The sign just went up across the street. How does your neighbors impending sale affect you? Most people think their real estate concerns end once they’ve closed on and moved into their new homes. But given the constant access to information and the changing nature of society today, smart homeowners understand that their real estate awareness should continue following the closing.
When a neighbor’s house goes on the market, there can be some important implications for you. Below are great tips for staying real estate aware.
Things you can do Whenever your Neighbors List Their property for Sale
Document important disclosure items
Typically, good fences make good neighbors. But sometimes the folks on the other side of the fence don’t cooperate, and unresolved neighbor conflicts have a tendency to arise when one of the homes goes on the market.
Have a property line dispute or perhaps an issue with a broken fence and want to ensure that the new buyer is aware of it? While sellers in most states have a duty to disclose issues to prospective buyers, not all areas require this.
Do the new neighbor-to-be a big favor and alert the seller’s agent to anything the buyer ought to know about your neighbor’s property.
See things differently
Open houses allow buyers to spend some time exploring a home, however these events also present you with a chance to see your home through your neighbor’s perspective.
Once, at a busy open house in San Francisco’s Noe Valley neighborhood, an open house visitor made a somewhat obvious beeline for the back of the home. He immediately got on the phone, and was clearly talking with someone about where he was standing, and giving orders to move left and right. It turned out this visitor lived in the house behind, and was checking to discover the neighbor’s view into his home.
The open house is your chance to check your home’s paint job from the neighbor’s yard or simply just to see your home from a different perspective.
Know and discover the marketplace in real time
Typical sellers claim and save their home online, but in addition keep searches going after the fact. Why? To maintain tabs on the market, see the comps and have a real-time sense of what’s happening nearby.
Just like when you were a buyer, being aware of the area and types of homes available in the market is an excellent move for any homeowner. Take a neighboring home for sale as a possible chance to see exactly what the market bears. It’s also possible to learn about the latest trends in home design.
Speaking to a real estate agent can certainly help inform you of changes to property taxes, or how assessments are changing in your area. A smart real estate agent, working their listing, will be an unbelievable resource to would-be clients down the road. Leverage their experience whenever your neighbor sells.
Take note when your neighbor goes to sell their property. It’s not just a time for you to nose around, but to document, inspect or learn from the home sale. Some homes get listed once in a lifetime. Take advantage of the opportunity.
Need assistance selling your home? Nick & Cindy Davis have helped hundreds of our clients sell their home here in the Tampa Bay and Surrounding areas. We are always just a call to 813-300-7116 or simply click here and we will be in touch.