Bucks County Realtor, Cathy Shultz, of Re/Max recently interviewed with Business Innovators Radio to explain the critical items within the agreement of sale and importance of various timelines from the perspective of a home seller. Her interview is part of a Real Estate Trendsetters Series featuring top-producing realtors to discuss ten key points of the real estate transaction and how these points could affect both buyers and sellers.
As a Montgomery County native and long-term resident of Bucks County, Cathy is well familiarized with the area and all it has to offer. Having been in the real estate business for twenty-nine years, she started her career at a small local real estate firm and joined Re/Max in 1989, where she quickly became a top-producing agent. As a way to stay on top of ever-changing technology and real estate law changes, Cathy is constantly taking continuing education courses. Understanding a client’s goals is always the primary focus when meeting a new client and the best interest of her client is always forefront of every decision during the process. She prides herself on working within a realist budget and making sure the location, school district and home itself fit the needs of her buyers. Because of this, many of her hundreds of past clients refer their family and friends to Ms. Shultz for their home buying and selling needs. With over ninety percent of her business coming from client referrals, it is evident that her costumers trust her expertise and explains her success within the industry. Over the past three years, Cathy has averaged over one sale a week, with volume last year of over seventeen million dollars.
In her interview with Business Innovators Radio, Cathy discusses the importance of timelines when completing the various steps involved in the agreement of sale. From the perspective of the seller, the mortgage commitment, home inspection, appraisal, and settlement dates are very important “because the longer the dates are out, the seller cannot accept another offer and the buyer has an opportunity to walk from the deal”. Additionally, unexpected occurrences, such as a job loss or loan denial, can happen. Because of this, Cathy suggests keeping these dates very short within the sale agreement. She states that in today’s market, a really good lender can obtain a mortgage commitment in four weeks and advises that appraisals should be ordered immediately. While home inspections are not mandatory, most buyers do opt to have one done and Cathy suggests that it be done within ten days. Her goal in having the various steps completed in as timely of a manner as possible is to not have the seller back at square one 45 days later if the sale does not go through.
Additionally, in the interview, Cathy touches base on the different types of loan options available today, whether it be a government or conventional home loan, and how these types of loans can affect not only the mortgage commitment but also the appraisal of the home. She explains exactly what sellers are responsible for remedying upon receipt of the home inspection; those that effect the resale value of the home such as structural or electrical damages as opposed to home maintenance issues such as repainting. She explains how much sellers can provide legally as seller assistance to the buyer and the effects home association rules and regulations can have on sale agreement.
The expertise shared in her interview is to be included in a book called Real Estate Trendsetters, which is scheduled to hit the market in Spring of 2016. The book will include interviews from ten top-producing realtors, each speaking on a critical piece of a real estate transaction from both buyer and seller perspectives.