3 Things to Do When Your Neighbors List Their Home for Sale

Posted by on Nov 9, 2016 in Real Estate | 0 comments

home4sellMost 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 know that their real estate awareness should continue after the closing. When a neighbor’s house goes on the market, there can be some important implications for you. Here are some tips for staying real estate aware.

 Document important disclosure items

For the most part, good fences make good neighbors. But sometimes the folks on the other side of the fence don’t cooperate and unresolved neighbor conflicts tend to arise when one of the homes goes on the market.

While sellers in most states have a duty to disclose issues to potential buyers, not all areas require this. Do your new neighbor-to-be a favor and alert the seller’s agent to anything the buyer needs to know about your neighbor’s property.

 See things differently

Open houses allow buyers to spend some time exploring a home, but these events also present you with a chance to see your home from your neighbor’s perspective. The open house is your chance to check your home’s paint job from the neighbor’s yard or simply to see your home from a different perspective.

 Know and learn the market in real time

Typical sellers claim and save their home online, but also keep searches going after the fact. Why? To keep tabs on the market, see the comps and have a real-time sense of what’s happening nearby.

Take a neighboring home for sale as an opportunity to see what the market bears. You can also learn about the latest trends in home design.

Speaking to a real estate agent can help inform you of changes to property taxes, or how assessments are changing in your town. A smart real estate agent, working their listing, will be an incredible resource to would-be clients down the road. Leverage their experience when your neighbor sells.

Take note when your neighbor goes to sell their home. It’s not just a time 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.

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