What are your favorite Halloween traditions? Do you carve Jack-O-Lanterns, hand out candy to hundreds of trick-or-treaters, attend a costume party, or take your little ones door to door?

Our brokerage KALEO Real Estate Company will hand out candy on Friday October 29th in Glendora downtown’s annual Trick-Or-Treat event. 

As adults, we are scared by different things than kids. Many people are scared to apply for a mortgage (worried that they won’t get approved) or are scared to transition from renting to owning. However old you are, change can be intimidating or uncomfortable. Moving from one city to another, downsizing, or taking on a bigger mortgage payment can all be scary steps to take.

 

3 Scary Things for Home Buyers

Home buying is most likely the biggest financial commitment you will ever make. Here are 3 things home buyers are scared of:

1. Change: Renting and buying are two different things. Renting means you have a Landlord to call when there are problems and you can always get out of a lease. Owning means upkeep, maintenance, and more responsibility.
 

2. Mortgages: From applying to a mortgage, getting approved, and going through the underwriting and loan process, the length of 30 years can be intimidating. Remember that when you sell, the lender and your mortgage are paid off which means you aren’t forced to stay in that property for 30 years. Having a good lender who can answer all your questions is crucial to making you feel confident about your home purchase. 

3. Lack of Options: Low inventory can be frustrating because if there isn’t your dream house on the market, then it can feel like you are settling for what is available. There are no perfect houses; just homes that are perfect for you at that point in time. Economists are speculating that housing inventory may creep up, but for the past few years, with homeowners staying in their homes for longer and lack of building in California, buyers don’t always have dozens and dozens of options. 

 

3 Scary Things for Home Sellers

After going through a home purchase, most people want to stay put for as long as possible. Like buying a car, most people buy a home when they need to, not just because they want an arbitrary change. When it is time to sell, it is often a life event: death, divorce, marriage, kids, job changes, downsizing or something else that prompts it. Here are 3 things home sellers are scared of:

1. The Wrong Buyer (Who Cancels): It can be nervous when you are reviewing offers because every seller wants to accept an offer that will close not cancel. You feel like you will waste time, energy and have to start at square one. Although we can’t make guarantees, part of my role as your listing agent is to guide you through the offer review in evaluating financial strength, terms, and emotional commitment of the potential buyer

 

2. Big Repair Bills: You’re in escrow and now the buyer wants to request $20,000 in repairs. That doesn’t feel fun, does it? One myth of home selling is that you have to do repairs. Repairs are a point of negotiation and unless required by law or agreed to in the contract between you and the buyer, you are not obligated to agree. If you want to sell your home As-Is and communicate up front to buyers that you will not be doing any repairs, that is also an option. 

 

3. Not Having A Place to Buy: Congratulations your listing was popular and you’ve opened escrow! But where are you moving to? There are contractual ways to make sure you aren’t “homeless”. Another option many sellers have done this past year is negotiate a seller lease back with the new buyer to give you time to get your funds then purchase your replacement property. It is definitely an in-person conversation to have, but we can make it happen! 

What part of the home buying or selling process scares you? Is it the unknown, the uncertainty, or feeling like you don’t know what the steps of the process are?

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.