Many years ago a client of mine had a quitclaim deed drafted to put his son on the deed to his home. With a quitclaim deed, in the event of my client’s death the son would automatically become the owner without the property going through probate.
Recently a client asked me if I could help him find a new tenant for a condo I had helped him purchase.
“Why is your tenant moving?” I asked.
“I don’t know,” he replied.
“Well then let’s find out why.” I said.
A potential client called out of the blue and explained that she was single with a young child. It was her life’s dream to raise her daughter on a farm. She told me she had no money for a down payment on a loan nor was she able to pay any closing costs. However, she had a good job and I could tell from her voice she had determination – which can make up for a lot.
When is it reasonable for a Buyer to work on a home before owning it? While there is nothing wrong legally with a Buyer getting a head start on changes before the closing, in my experience you have to weigh the risk and reward. Sometimes it turns out fine, and sometimes it doesn’t.
I have been a Realtor in Genesee County since 2003 and I have never experienced the trend that I am experiencing now. 6 out of my last 10 clients are selling their homes after only living in them for 2 years.