I thought I would share a word of warning. I got a call from a client that her brother wanted to talk to me and ask me some questions about an issue he was having. He had been working with a realtor for many years. He had recently put one house under contract, decided not to move forward, and then put another house under contract. His realtor had told him that he was out of deal A and good to move forward with deal B.
Turns out he wasn’t and he was now being sued to the tune of tens of thousands of dollars for not completing his contractually obligated duty of buying a house that he no longer wanted to own.
The short and simple lesson here is that absolutely nothing is official until everything is in writing and everyone has signed it. And once you have signed, you better believe that everything is official.
I am not an attorney. I let them deal with any legal issues that come up in the world of real estate. What I do though is make sure that you are covered from every angle that I can think of so that you can make buying and selling decisions with confidence.
There were several ways out for this guy. Make sure you know where you stand 100% when making one of the largest financial transactions of your life.
In market news:
The beginning of 2019 has seen a lot more movement in the market. This is surprising considering we just got a boat load of snow dumped on us in that time. In the first 24 days of 2019 we have already seen 1,141 houses sell or go under contract. Buyers are out and sellers are already listing, or getting ready to list soon.
Mortgage rates have been dancing around, but they have been dancing around the same numbers. According to Bankrate.com, the average 30 year fixed rate right now is 4.62% and that is still very low historically. Plus, this is higher than most banks that I look at specifically in Iowa.
What does all of this mean? The central Iowa market is getting ready to go already. There was a lot of built up demand over the holidays, and now people are moving, literally. If you are thinking about buying or selling, I want to help.
I love doing what I do. I love looking at the market, and I love building relationships with the people that I get to help. Let me know how I can help you. Call me today. You can reach me at 515.639.0047 or RyanLynch@KW.com. I am good at what I do, and I want to help you.
~Ryan Lynch
