Christal Park Keegan, NVR Legal Information Line Attorney
The article in the adjacent link addresses a popular issue often discussed on the Legal Information Line. NVR Legal Information Line Attorney Christal Keegan touches on key points during this current busy real estate era like -- if a listing agent receives an offer from an unrepresented buyer using an out-of-state REALTOR® association form, what should the agent do?
Do you know how Nevada law reads on the subject? Read this short legal-themed FAQ article and learn all you need to know. If you have any questions, please email the Legal Information Line at InfoLine@NVRealtors.org. You can view the legal article on the subject by clicking here.
Some pandemic purchases have led to misgivings. Here's how to help.
Recent home buyers, whose lifestyles changed overnight in the pandemic, may have rushed to purchase a property to accommodate a new housing or location preference. Add to that the pressures of an intensely hot seller's market - which is forcing many to waive contingencies and push their budget to the maximum to have a shot at winning a bidding war - and even the most well-qualified clients can feel pangs of regret after a closing. Now that life in the U.S. is opening up again, some of those buyers could be having doubts.
The likelihood of regret is highest among younger buyers. A Bankrate survey in April found that nearly two-thirds of millennial homeowners had misgivings about their recent purchase. At least for now, clients who feel they overpaid for a home or who were ill-prepared for the ongoing maintenance costs don't need to feel trapped. Prices are expected to keep rising in the near term, said National Association of REALTORS® Chief Economist Lawrence Yun in May. If buyers choose to turn around and sell quickly, they may even see a profit. Click here to read the full article.
Realtor.com article also discusses ways to survive pitfalls
Home sellers have a right to feel optimistic, even bullish, about selling a house today: Demand is sky high, and with record-low levels of homes for sale, hordes of eager beaver buyers will do just about anything to get their hands on your place.
Overall, this is good news for home sellers, who can expect high sales prices with few (if any) strings attached. Yet although sellers are poised to ride a gravy train to the bank, the reality is that this frenzied seller's market is causing buyers to make some desperate moves. And those can considerably complicate home transactions-not just for buyers, but sellers, too.
Still, if you're curious about what dangers might be lurking amid all these cutthroat buyers battling to outbid one another for your house? Here are a few key things buyers are doing today that could cause problems for sellers - and how you can sidestep these potential pitfalls. Click here to continue reading.