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Closing Escrows On Homes In Sacramento
Closing escrows on homes in Sacramento lately has not been easy, but they are closing. Repairs have been complicated as have the requests for repairs. During Covid19, some buyers are asking for repairs. Depending on the property, some sellers with motivation to close are being more patient by offering to complete some repairs and / or offer credits.
Of course, credits are the preferred way for a seller; however, some things cannot be fully diagnosed without opening up the ground, such as a septic inspection and repair in Sacramento rural real estate. Also, pest inspections requiring further inspections can go on and on without fully definitive answers.
Pest Inspections And Repairs
Some foundations have to be dug out to obtain access. In such cases, a large credit may be needed to satisfy a buyer. When you have a difficult buyer’s agent and a bit of a challenging market, the combination can require some sellers to make concessions that they typically would not make. That being said, if a good purchase price is obtained there may be a sufficient cushion to make some repairs or credits. It is a good time to sell as buyers who are serious are out looking to buy.
So, we are closing escrows on homes in Sacramento; however, the workload on seller’s agents has increased tenfold. Out-of-area sellers of previous rentals often require a Realtor to act as a property manager. We are dealing with so many extra tasks during Covid19. We hope soon to have fewer limiting showing instructions in Sacramento for seller-occupied property.
Sellers Need Results
Sellers can become impatient for results when they have fewer showings, which is completely understandable. Properties priced correctly are selling, and that is not new in any market. This is not a time to overprice as properties will simply not be shown during COVID19 if buyers do not see the value. We have less inventory now than historical averages. If you are a buyer, it is a time to get busy and hire a top notch Realtor to represent you in the hunt for a fabulous property. Especially since interest rates are lower than they have been for decades.
There Is Opportunity
There is opportunity for buyers and sellers during these times. One of our exclusive buyer’s agent was able to help a buyer to purchase a property for $50,000 less than asking, which made the buyer very grateful. Another listing with challenging inspections (but an entry-level list price), we helped our seller to obtain a top price. Some properties are, of course, selling for full-price and within a few days.
We have been able to put properties in escrow and close them, no matter what the challenges. If you are interested in selling or buying a home, call Weintraub & Wallace Realtors with RE/MAX Gold today. We can be reached seven days a week at 916-233-6759.
— JaCi Wallace
Should Buyers Inspect Septic Tanks?
Should buyers inspect septic tanks? When making a home purchase, many rural areas do not have public sewer service. In these cases, a septic tank is used, and it is buried under the ground usually down a foot or two. These tanks are recommended to be pumped out 3-5 years, depending on with whom you speak. The more people, the more flushes, the more laundry, the more showers. If you start having a back up, call your septic service quick.
During a buyer’s inspection period, buyers are afforded an opportunity to inspect the septic system. There are many types of systems such as an engineered dosing systems, and most often in Sacramento County you will see leech lines running from the septic.
I had an instance where a buyer did not inspect the tanks as they felt when the time came they would just replace it. In some counties, you can not put in a new tank if you live within a public sewer system area, then the city can force you to hook up and then the buyer is responsible for all the costs. Keep in mind this can be $50,000, more or less.
Another seller I represented used a monthly chemical treatment and thought his septic system was fine. I advised them to do an inspection clean out and they declined. The new buyers did an inspection and the tanks failed. With only 7 days left to close it was an Act of Congress to get the repair completed on time but, we did it. All new system and leech lines were needed. We also had to break out part of the concrete driveway, which cost $5000 and over, resulting in $15,000 in costs at the final hour.
A buyer in Sutter County took my advice and did a septic inspection. The tanks were failing as the leech lines were used up and not working properly. They had to pay to pump out each month until the new sewer came into their area, in about 18 months.
Should a buyer inspect septic tanks? For a $500 expense, it is always a good idea to inspect. You never know what kind of repairs are needed, but often times you can get your money back and then some regarding the cost of inspection. Tanks may very well need some work, even if the tank is still in tip top shape.
If you are selling or buying a home with a septic tank, call Weintraub & Wallace Realtors. We sell buildable lots, ranchettes and 80+ acre ranches. We have amazing companies that perform the inspections and pump outs. Call us today at 916-233-6759. We are with RE/MAX Gold.
— JaCi Wallace
