It seems that right now is a good time for those wanting to sell their homes in the Orlando area. Property values are slowly rising, allowing homeowners to raise asking prices. Doing so doesn't seem to be keeping buyers away, as home sales have increased by about 22 percent since this time last year. What can help a homeowner get the most out of a residential real estate sale?
Right now, the average single-family property is on the market for about 69 days before coming under contract. According to current statistics, homeowners are receiving approximately 97 percent of their asking prices, which is up slightly from 2014. Condo sales have decreased slightly, and the number of foreclosures and short sales available on the market have drastically decreased over the past year.
Homeowners do need to be proactive in ensuring their interests are protected during the selling process. One's real estate agent can be a good resource in this area, but his or her main goal really is just to complete the sale. Before signing any contracts, homeowners may want to consider seeking guidance from legal counsel to review all documents and negotiate changes -- if necessary. Having this support system can help owners see if and where they may be taken advantage of, and can ensure all appropriate provisions are included in sale and closing documents.
A residential real estate sale can be exciting and stressful all at the same time. Homeowners in Orlando can help the situation by taking all necessary legal steps to protect themselves. An experienced real estate attorney can be a valuable resource during the sale of a home and will do everything possible to help the client get the most out of the transaction.
Source: bizjournals.com, "Orlando home sales, median price up in August", Cindy Barth, Sept. 15, 2015