Selling a property can be a challenging experience, especially if you're unfamiliar with the different legal and financial processes involved. As a seller, it's important to protect your interests and safeguard yourself against any potential legal or financial issues. Meaning, anything that may arise during, or after, the transaction. In this comprehensive guide, we'll walk you through the various ways in which you can protect yourself as a home or commercial property seller. 1. Hire an Experienced Real Estate Agent One of the best ways to protect yourself as a home or commercial property seller is by hiring an experienced real estate agent. A knowledgeable agent can provide you with in-depth market insights and handle negotiations. Additionally, they can ensure that all necessary paperwork is completed accurately and on time. By hiring a reputable agent, you'll have access to expert advice and guidance that can help you navigate the housing market. 2. Get a Home Inspection Before you put your property on the market, it's essential to get a home inspection. A home inspection can identify any issues that need to be addressed before you sell your property. From, structural defects, electrical problems, or plumbing issues. Addressing these issues before listing your property can help you avoid potential legal or financial issues down the line. 3. Be Transparent About Your Property When selling a property, it's important to be transparent about any known issues with the property. Failure to disclose issues can result in legal action, which is why it's always best to be honest with potential buyers. Additionally, your real estate agent can help you address any issues and ensure that you provide accurate disclosures to potential buyers. 4. Understand Your Legal Obligations As a seller, it's essential to understand your legal obligations. This includes ensuring that all necessary paperwork is completed accurately and on time, adhering to local zoning laws and regulations. Additionally, ensuring that your property is in compliance with environmental regulations. Your real estate agent can help you navigate the various legal requirements and ensure that your property sale proceeds smoothly. 5. Consider Title Protection Title protection is a type of insurance that can protect you as a home or commercial property seller if any issues with the title arise after the transaction is complete. This type of insurance can provide you with peace of mind, knowing that you're protected against any potential legal or financial issues arising from disputes over the title or ownership of the property. Selling a property can be a complex and challenging process, but by following the tips outlined in this guide, you can protect yourself as a home or commercial property seller and ensure that your transaction proceeds smoothly. Remember to hire an experienced real estate agent and get a home inspection. Finally, be transparent about your property, understand your legal obligations, and consider title protection. By taking these steps, you'll be able to safeguard your interests and protect yourself against any potential legal or financial disputes. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

Selling a commercial property is a significant transaction that can bring in a lot of money, making it attractive to scammers and fraudsters. Therefore, before entering into any agreement, it is crucial to verify the buyer's legitimacy to avoid any potential loss or legal issues. In this blog post, we will explore how to determine if a commercial buyer is real and the cautionary measures to take. 1. Check the Offered Terms One way to identify a genuine commercial buyer is to evaluate their offered terms. If the terms seem too incredible to be true, it's a potential red flag. Scammers may offer unusually high prices or other favorable terms to lure sellers into a trap. Therefore, consider seeking professional advice before accepting any offers that appear too good to be true. 2. Be Suspicious of High Earnest Money Additionally, beware of buyers who offer a large amount of earnest money. It could be a bait-and-switch tactic, where the supposed buyer lures the seller with large deposits only to back out of the transaction later. Verify the buyer's credibility using a reputable verifier to avoid such risks. 3. Short Closing Time A real commercial buyer understands that closing the deal takes time, and any request for an unreasonable short closing time should be handled with caution. Scammers may pressure the seller to agree to a quick closing, which may cause the seller to overlook details and miss fraudulent activities. Finally, always opt for reasonable closing timelines to avoid such scenarios. 4. Verify the Source of Money Ensure there is a clear path to the money source, such as a verifiable 1031 qualified intermediary. If the buyer fails to provide a clear indication of where the cash is coming from, it could be a sign of risk. Always verify the provided information using reputable sources. 5. Check the Expertise Be cautious if the buyer is acquiring property outside their area of expertise. It may signify a lack of knowledge or funds flow volatility, leading to complications throughout the deal. Consider asking the buyer questions to access their level of knowledge and experience. 6. Agent Commission Split Also, if the buyer's agent is not concerned about commission split or documentation, it could signify fraudulent activities. Commercial real estate transactions are all about money, and agents who aren't concerned about their earnings may be working for fraudulent entities. Always scrutinize agent documentation and commission payment credentials for authenticity. 7. Verify the Lender Finally, a significant portion of commercial real estate transactions often involve bank loans, so you need to verify the lender's credibility. The lender should be reputable, experienced, and regulated; this ensures they comply with necessary regulations and protocols. Consider seeking professional advice in verifying the credibility of potential lenders to prevent issues down the line. In conclusion, verifying a real commercial buyer is essential when dealing with property transactions. Always take caution if the offered terms are too good to be true, the buyer's hard-earned money seems excessive, the closing time is too short, or there is doubt over the money source. Check the buyer and agent's credibility and hire reputable experts to verify the provided information. Remember to take your time in every step of the process and never leave out essential due diligence protocols. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

The real estate market is steadily growing and many buyers are looking to buy a house. While there are many factors to consider when buying a house, timing is the most important. Good timing is based on your finances, job stability, and timeline. Continue reading to learn when is the right time to buy a house. Are You Financially Prepared? One thing that can help you determine when the right time is for you to buy a house is your financial preparedness. Your savings, credit, and debt effectively determine your financial preparedness. According to CNBC, the median price of a home in 2021 is $350,300. To buy a house, you'll need money to provide a down payment, pay mortgage closing fees, and cover other expenses associated with making your house ready and moving. Like your savings, your credit score is essential in determining your financial preparedness to purchase a house. A good credit score means that you can easily get loans from banks and other housing lenders. You can afford to buy a house with a loan if you have a good credit score. Debt also influences your financial preparedness. Lenders will evaluate your debt-to-income (DTI) ratio to decide whether you should be given a mortgage. A higher DTI of more than 40% will prevent you from getting a mortgage. Therefore, the right time to buy a house is when you have enough savings and good credit and DTI scores. How is Your Job Stability? Having safe job security means that you can't be cut off from your employment position even if the employer lays off employees because of outside forces. You can't buy a house if your job security is at stake because you risk running out of money. Also, having a stable job will also allow you to pay your mortgage. It is best to buy a house when your job is stable and your income is steady. What are the Current Market Trends? Like any business activity, demand and supply play a huge role in determining when the right time is for you to buy a house. It would be best to buy a house when the supply is high and the demand is low. This will help you find an affordable house without spending much time and energy searching the housing market. It is the right time to buy a house if you meet these factors. Contact a real estate agent today if you want to buy a house or have any questions.