Tips for Selling Rancho Santa Fe Homes

Rancho Santa Fe Disclosure Rule

Types of Material Defects for Rancho Santa Fe might include any known structural deficiencies or building code violations. Material Defects might also include defects in walls, ceilings, floors, windows, foundations or electrical or plumbing systems. If you are selling in the summer and the place usually floods in the winter that is a material defect that is not going to be obvious to a prospective buyer.

When you are contemplating the possibility of selling your Rancho Santa Fe you might want to ask yourself what you would want to know about the property if you were planning to buy it. If a condition or situation would be important to you, disclose it and disclose it in writing. As a seller, this is your strongest protection against future litigation.

Rancho Santa Fe Disclosure Rule

If you are contemplating the purchase of an existing home or any Rancho Santa Fe, I strongly recommend that you utilize the services of a trusted home inspector. The final purchase of any home should be based on obtaining a favorable home inspection. Rancho Santa Fe is no exception to this rule.

What if the home inspector discovers a problem? That happens and as long as it happens before the sale is final the seller can fix the problem or the buyer who agrees to take the property as is can negotiate the price. Any questions regarding Rancho Santa Fe, just give me a call.

Bitten by the Rancho Santa Fe Home Improvement Bug?

Money isn’t everything however so that if the most important consideration for remaining in your Rancho Santa Fe home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Rancho Santa Fe house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.

Buying a Rancho Santa Fe Fixer-Upper

Finding the right Rancho Santa Fe fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.

Join my network of Rancho Santa Fe buyers looking for specific types of properties. Call or Email me today.

Rent or Buy Rancho Santa Fe

For most people, the chance to trade nondeductible rent payments for mostly deductible mortgage payments is a powerful inducement to trade a rental home into a Rancho Santa Fe of your own. This is by far the single most important reason why people decide to buy their first Rancho Santa Fe.

However, whether you are considering your first Rancho Santa Fe investment or planning to move up, the number crunching necessary to figure out how much house you can afford depends on two calculations: one for actual monthly outlays, the other for the true, after tax costs.

Rent or Buy Rancho Santa Fe

In the early years of your Rancho Santa Fe mortgage, nearly all of every monthly payment is interest. This means you are only paying off a tiny bit of the loan principal, but it is good news in terms of tax savings.

The monthly payment for a $100,000, 30-year, 8% mortgage on your Rancho Santa Fe would be about $734. In the first year of your mortgage, $7,970 of your $8,805 payment or 91% would be deductible as mortgage interest. Even in the tenth year, almost 81% of your payments would be deductible. What this is worth to you depends on your tax bracket but this tax savings built into the home-buying equation is why you can afford to make higher mortgage payments than your current rent payments without squeezing your budget. There is no similar tax subsidy for renters.