Edge Blog

St. Louis County and the City of Florissant still have grant money available for first time home buyers!  Qualifying buyers are eligible to receive $3000 at closing.  This grant does not have to be repaid if you own the home for at least 5 years.

There is work to do to earn this grant, such as a weekend class and home ownership counseling.  These items must be completed 30 days prior to closing.  This is a fantastic program available to first time home buyers so don't lose this opportunity.  The money can be applied to your down payment or closing costs!

For more information go to www.beyondhousing.org or call me directly at 314.720.4352.

The building inspection contingency is a very important part of the sales contract.  This is the buyer's opportunity to call in any expert they choose to evaluate the house.  Typically buyers select a building inspector, termite inspector, and often a radon inspector.  In many cases, these inspections will be done by the same person.  The inspector will provide a very detailed report on the home, noting maintenance issues, recommended repairs, necessary repairs, and major defects.

Unless you purchased the home under the "as-is" clause, you have the option to request repairs by the seller.  In most cases, you can request items for repair and the seller can agree or disagree to the request.  Often we enter another round of negotiations at this point in the process.

To increase the likelihood of amicable negotiations, the buyer should be willing to take on the maintenance items noted in the inspection.  Remember, owning a home requires constant maintenance.  As a buyer, be prepared to caulk windows, repair nail pops, tighten loose knobs, etc.  If a seller feels "nickel and dimed" over the inspection, they will be less likely to address the more major issues.  As a seller, be prepared to investigate and repair potential water issues, install GFCI outlets, secure loose handrails, and address electrical issues.  Sellers should be prepared to fix any safety or water issue with their home.

It is important to remember the reason for the inspection is to identify problems with the home that were otherwise undetectable by the buyer.  Items that may have affected the offer made; HVAC systems should work, roofs should not leak, appliances should work, electrical systems should be up to code.  In many cases the seller is unaware of the problem too.  Keep the inspections requests fair and everyone should reach an agreement!