When The Buyer Backs Out: Real Estate Sales SolutionsWhen The Buyer Backs Out: Real Estate Sales Solutions


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When The Buyer Backs Out: Real Estate Sales Solutions

The first time I sold a house, I had no idea that the buyer could back out of the contract partway through. I was taken aback when it happened to me, and my real estate agent had to explain the process of terminating the contract and requesting the earnest deposit. After the contract was terminated, I spent a lot of time researching why a buyer could back out of a sale, what I could do about it as the seller, and ways to minimize the risk of it happening. I created this site to share what I've learned in the hopes of preventing other homeowners from experiencing what I did. I hope it helps you to be better prepared as you sell your home.

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Looking For Your First Apartment? Avoid These Common Mistakes

Moving out on your own for the first time is exciting. Finally, you have a space to call your own and decorate in any manner you wish. To make sure your first apartment experience is a good one, be sure to avoid these common mistakes made by first-time, young adult renters.

Mistake 1: Failing to take costs other than rent into account.

Experts often recommend spending no more than 30% of your monthly income on rent. However, rent is not the only factor you should take into account when deciding which apartments are affordable. Some apartments may have older, less efficient heating systems that result in higher heating bills than others. Some may be located further from work, resulting in higher transportation costs.

For each apartment that you're considering renting, make a list of all the predicted expenses related to living in that particular apartment. Include predicted utility bills, transportation costs, additional costs such as parking and laundry fees, and any other costs, like internet, that vary between apartments. Then, add all of the costs up for each apartment to arrive at the true cost of renting that unit. Use this number, rather than just the cost of rent, to compare the affordability of various units.

Mistake #2: Looking just at the apartment, and not the entire neighborhood.

A certain apartment might be gorgeous inside, but if it's in an inconvenient neighborhood, you won't enjoy living there for long. When shopping for apartments, focus only on neighborhoods that are within easy reach of your job, shopping centers, and any hobbies you participate in.

Also, take the time to meet a few of the neighbors before you sign a lease. Concentrate not only on making sure the neighborhood is safe, but also that you'll be living near the kind of people you want to get to know. If you're in your 20s, you probably don't want to live on a street with a bunch of retirees. They're probably nice people, but not the type of people who will become your closest friends.

Mistake #3: Not evaluating the landlord.

Some landlords are tough to deal with, while others are some of the nicest people on the planet. The more understanding and dedicated your landlord, the better your renting experience will be. Before you sign a lease, make sure the landlord or company you're renting from has a good reputation. Look for reviews online, or if you're renting from an apartment community, ask some of the other residents about their experiences. Renting is easier when the property has reputable management, like that offered by CNY Property Management.

The excitement of moving out on your own can quickly wear off if you're left with bills you can't afford, a lazy landlord, or an exceedingly long commute. By avoiding the mistakes above, you increase your chances of finding an apartment that's enjoyable to live in long-term.