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Cosmetic Improvements >Handle Needed Repairs Early There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next? In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs. See All Tips In The "Cosmetic Improvements" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Who is "Fannie Mae" and why is she a big name in real estate? A  "Fannie Mae" is the real estate industry nickname for FNMA, or Federal National Mortgage Association, the stockholder-owned corporation that purchases mortgages from mortgage lenders. See More Real Estate Trivia >