BUYERS AND SELLERS

Buyers

Buying your new home is a serious venture. It can be an absolute pleasure or a massive headache. Your house is not just your home, it is a serious investment in the dwelling, the area and your future. When buying a home - you're bound to have many questions. For example, "In what area can I find a home that suits my needs?", "How much money will I need to afford the monthly payments?" and "How long will the home buying process take?" Below is just some information you may need to consider in the home buying process.

Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.

Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. With pre-approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender.  This can help during the negotiating process.  Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.

List of Needs & Wants: Include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.) and the items you’d like to have (pool, den, etc.) but that are not absolutely necessary.

Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email us or call us directly to discuss any of these matters in further detail.

Types of Mortgages:  Fixed Rate Mortgages (15, 20 and 30 year), Adjustable Rate Mortgages, Convertible Adjustable Rate Mortgages and Government Loans (VA and FHA)

Surviving The Closing Process:  During this period of purchasing your home you are going to need an escrow or settlement company to act as an independent third party. This way you'll know when and who to give your money to in order to get the deed to your new home. The escrow or settlement company will hold your deposit and coordinate much of the activity that goes on during the escrow period. The deposit check will be cashed. You will need to secure homeowner's insurance and contact local utility companies to schedule to have service turned on when you close escrow and schedule the final walk-through inspection. Once the sale has closed, you're the proud owner of a new home. Congratulations!

All the above may seem overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email us or call us directly to discuss any of these matters in further detail.  

Sellers

When selling your home, there are no guarantees that a buyer will simply walk through the front door. In many cases you may have to bring your home to the buyer. Effective marketing will help ensure that your property receives maximum exposure to attract a ready, willing and able buyer. The appearance of your home, a buyer's first impression, and other considerations can also affect the sale of your home. Have you considered that home prices in your neighborhood and the value of your property are also factors used for pricing your home? Below is some useful information in the home selling process.

Comparative Market Analysis:  A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace. The first thing an agent will need to do to provide you with a CMA is to inspect your property. Generally, this inspection won't be overly detailed nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition. The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.

Conduct Your Own Walk-Thru Inspection:  Check for things that require maintenance or repair.  

Inside:

 1.) Are the interior paints and finishes in good condition (recently updated), or do they need to be freshened up? This is one area with the best ratio of least expensive to most desired. For a minimal investment, you could possibly make or break a sale by having your home look well-kept and inviting.

2.) Are the appliances in good working order and of recent vintage?  

3.) Are the plumbing and electrical systems in good condition? Are they fully functional?  

4.) Are the carpets or other floor coverings clean and in good condition? Like the paint, are they attractive and well-kept? Floor coverings are worth paying for so that your home makes a good impression.

5.) Are the sealants (sink, shower, tub, windows) in good condition?  

6.) Are all light fixtures working properly and is there good lighting in each room so that prospective buyers won't think you're hiding something?  

Outside:

1.) Is the house appealing from the street? This is called "curb appeal". 

2.) Does it need a new coat of paint (either because the old paint is obviously cracked or faded, or because of an uncommon choice in color that might turn off prospective buyers)?

3.) If the house has a yard, is the lawn and landscaping attractive and well-kept?

4.) If it is a condo, you can't do much about the building, but is the front door (and balcony, if there is one) appealing?

5.) Are the windows and doors attractive and in good condition? 

6.) Are the roof and gutters in good condition? 

7.) Is the grass nicely cut? Are the hedges trimmed?  Are the leaves swept up? Are all toys put away such as bikes, scooters, etc.?  Make all necessary repairs and improvements prior to placing your home on the market. 

Determine Type of Financing You are Willing to Consider:  FHA, VA,  Seller Carry Back First Loan, Conventional Loan with Seller Carry Back Second Loan, “Wrap Around” Loan, etc.