Items to Check Before a Home Inspection

Items to Check before a Home Inspection

Selling a home can be a stressful time, there is so much to think about; keeping the home clean, heading out on a moment’s notice to accommodate last minute showings, not to mention planning a move. It’s natural to feel overwhelmed.

Then you get that great offer and you’re under contract. You’re relieved until you realize there’s a home inspection coming. Even a home meticulously maintained can have hidden issues. The good news is that you can prepare for the home inspection and make sure you pass with flying colors.

Items to Check before a Home Inspection

·      Doors, windows, cabinets and drawers – check that they slide smoothly

·      Run water in sinks, tubs and showers – snake any that drain slowly

·      Evidence of water leaks – Garage ceiling, under sinks, around water heaters, etc.

·      GFIs – check your local code and put GFI plugs where required

·      Smoke and Carbon Monoxide Detectors must be in working order

·      Gutters and Roof – replace any missing roof tiles and clean gutters

·      HVAC – Consider a HVAC servicing to replace filters and check for problems

·      Water Heater – is it properly strapped and vented

·      Deferred maintenance – anything that has been neglected should be addressed before the home inspection

The best defense is a good offence. This is true in home inspections too! The best way to ensure you have a great home inspection is to have a pre-listing home inspection. It could be the best couple hundred dollars you can spend – uncover the issues before the buyer does.

Priority Tasks Before Moving In

Priority Tasks Before Moving In

You did it. You moved into a new home you love and now you’re dreaming of how you’re going to decorate it. But before getting into all of that, there are still some other tasks that need to be at the top of your priority list.

Changing the Locks

Double check them even if you’ve been told that there are new locks installed. It’s better to take safety measures and know that no one else has keys to your home. Call in a locksmith if you want to spend a little money or it can be done yourself.

Call an Exterminator

A great exterminator can take care of any pests that have been lurking in your home.

Get the House Cleaned up

If it isn’t already, clean out the refrigerator, wipe down counters, cabinets, oven if needed, and plumbing fixtures. Prior occupants might have had pets or young children so it’s best to steam clean. This will free your floors of any junk or allergens.

Mechanical Equipment Cleaned

Getting your heating and cooling systems cleaned is crucial and make sure to get a service contract just in case it stops working suddenly.

Get some Closet Organizers

Keep in mind of where everything is going to get placed so it can be accommodated in your closet space. A shelf or a coat hook can go a long way for making room or organization.

Meet the Neighbors

You want to reach out to your neighbors as soon as possible. It’s good to establish yourself within the community and you can get advice on some home repairs like which plumber to use.

Having these as priorities will help you move into a clean, working home. And then, you’re ready to move in with all your belongings and start making it yours!

What to Repair in Your Home Before You List

What to Repair in your Home Before you List

A lot of money goes into buying a new house so it is understandable if a seller feels hesitant investing even more money to fix up their current  house prior to selling. However, sellers may not realize that some of the issues they live with everyday and consider minor, such as the hallway light switch or the kitchen sink that has plumbing issues, may actually be considered major to home buyers. These issues may even prevent buyers from making an offer on a home or making a lower offer. It’s crucial to keep your house presentable and in good shape before you list it on the market.

That being said, read on to find out what repairs you might want to consider before you list on your house on the market.

Roof Problems

A roof is one of the most important components of a home, protecting all that is underneath. Additionally, roofs are major expenses to replace.

Therefore, it is imperative to keep the roof well maintained and free of damage and leaks. Issues like water and sun damage, clogged gutters, and rotting will lead to bigger issues if not fixed timely. Tending to these items immediately will help prevent further damage and help present the home well.

Poor Maintenance

Minor issues such as damaged flooring, paint chipping, and old carpeting can be easily fixed to give your home a renovation. Your goal is to make your home appealing so start by replacing anything that is heavily worn and adding a fresh coat of paint. And these minor upgrades can be inexpensive because you’ll most likely see a return on investment.

Plumbing

Plumbing problems can result in minor or major issues and it is very important to take care of these issues right away as they can lead to further problems. Bigger problems such as water damage can lead to mold and easy fixes to leaky faucets can be replaced inexpensively.

Wiring

Electrical problems can cause a wide variety of problems. Smaller fixes such as faulty switches, missing wire nuts, or damaged junction boxes can be fixed with a good electrician. Replacing a circuit breaker might be needed if they don’t match the amperage of your home. Some repairs are obvious to see and others aren’t so it’s a good idea to run a pre-inspection of your house before listing. After, review it with your realtor because they can advise on which ones are the first priority.

How To Lower Closing Costs

How To Lower Closing Costs

Closing costs help facilitate the sale of a home and both buyers and sellers pitch in. Some closing costs can be paid before the home is officially sold and others are paid at the end.

However, closing costs aren’t set into stone and they can be negotiable. You can ask your real estate agent or lender with help in estimating your actual closing costs. Look over everything to make sure all the numbers are right and then you plan accordingly in how you’re going to lower them.

Loyalty Programs

 Some banks offer assistance to buyers when they use them to help pay for the purchase. It’s a way for a bank to reward loyal customers. Unfortunately this is not very common in today’s market.

Closing at the End of the Month

Schedule your closing at the end of the month so you don’t have to pay the per diem interest for so many days.

Get Multiple Quotes

Get estimates from different lenders because you’re looking for the best package of closing costs and interest rates. There might be something better out there. Please note that comparing lenders true costs on mortgages is not as simple as choosing between interest rates or APRs.

Junk Fees

 There may be some fees a lender charges that may be negotiable, such as origination fee, processing fee, or application fee. Make sure to ask if what you are being quoted is the best they can offer.

Title Costs

Sometimes title insurance and settlement are bundled together. You may be able to find a title and settlement company that is less expensive.

Negotiate With the Seller

You can try to negotiate with the seller in paying for some of your closing costs. Buyers can ask for credit or to cover lender expenses during the offer and negotiation process. This should be covered with your real estate agent in your initial consultation.

Top Tips For House Hunting Online

Top Tips for House Hunting Online

Hunting for a new home online a is a great place to start your search but keep in mind that you don’t see everything. Real estate agents are great at highlighting the features of a house listing online but to make the most of your time, keep these three things in mind:

Identify your Housing Needs

Preferences are important when house searching. A house may not have everything you want but it will have most of the things. Be realistic about pricing and keep in mind the must-have items that will definitely be needed because this will help narrow your search.

Stay up to Date

When you start your search, make sure you go to sites with up-to-date listings directly from the multiple listing service. Realtors post their most current homes for sale through this. Many sites fail to remove listings that are already off the market, and this can lead to you trying to sort through them and find the recent ones. Also note that Pre-foreclosure is not a property for sale so avoid website with properties not actually for sale.

Pictures can be Deceiving

Photographers capture listings at their best. They use different strategies and tools to boost the appeal of the home like creative editing and expensive camera equipment known for its effects. What they don’t show is unappealing parts, like an undone bathroom or small closet.

Go See The Listing After

After you have chosen a house that’s appealing to you, schedule a showing with your real estate agent. This is the opportunity to see every part of the house in person and see if it’s a good fit.

Searching online is a great way to learn more about the house you’re looking for. Even if you’re still unsure about moving, house hunting online gives potential sellers the basic information.

Fill out my Buyer Survey and I will be able to customize a search for you with up to date information.

Maximizing Your Home's Value

Maximizing Your Home Value

Are you ready to list your home for sale? One of the first questions you might have is, “how can I maximize my home value?” Every seller wants to get the best possible price for their home; fortunately there are ways to make sure your potential buyers see the true value of your property and allow you to receive top dollar when you sell.

• Clean, declutter, depersonalize – The first thing every home seller needs to do is take a critical look at the home and clear out the distractions. Cleaning the home/yard is a must. Remove anything that can draw a buyer’s eye away from the beauty of the home.

• Redecorate – Professional home stagers will often advise clients to remove and/or replace furnishings. Even if you love oversized furniture, it can make the room look small; consider renting more neutral pieces during the listing.

• Perfect Condition – No home is perfect, but before you list take care of deferred maintenance issues. Replace missing roof tiles, repaint any area that is worn or dirty, and re-sod your lawn; remember; buyers want to know the home has “good bones.”

• Update carefully – It’s not important for home sellers to have the latest countertops or custom bathtub to get a good value for their home. Often the home updates/improvements sellers undergo cost more than they would lose in sales price without them. If your home is very dated, consider a seller credit instead to allow the buyer to choose their own upgrades.

Homes retain value based on a few factors; the location, the condition and the features. Before you list, speak with your agent, then make any necessary repairs and changes to ensure you get the best value for your home when you sell.

Qualifying For a Loan- What Do I need?

Qualifying for a Loan – What do I need to qualify?

Before you start searching for your new home, the first step is to speak with a lender and determine your budget. This is being pre-qualified for a loan. Once you find the right home, then your lender will order an appraisal of the property and complete your financing. If this is your first home purchase, or if it’s been awhile since you’ve purchased, understanding how to prepare for the qualifying process is the first step to success.

What do I need to qualify for a home loan?

When preparing for your meeting with the lender gather all the pertinent documentation and bring them with you. Most lenders will want to see 2 months of employment pay stubs and bank records as well as the past 2 years of tax returns. After reviewing your income and savings, the lender will also order a credit report which shows all your recurring debt and payment history. This will be used to determine your ability to pay the proposed mortgage.

How does credit, down payment and income affect my ability to get a loan?

There are a variety of loan programs available. From 0% down VA loans to traditional 20% down loans, your lender will review all your options with you so you can determine the best program. Some government guaranteed loan programs, such as the VA or FHA, are more lenient with your credit score requirements as well as other qualifications, such as debt to income ratios.

Qualifying for a home loan might feel overwhelming, but your lender can walk you through the process and requirements. After learning your options, you can make the best financial decision for your new home loan.

Foreclosures- What is A Foreclosed Property?

Foreclosures – What is a Foreclosed Property?

Unfortunately since the mortgage meltdown, foreclosed properties have become more common. Many home buyers see this as an opportunity to find a great home for a bargain price. While foreclosures can offer some nice discounts, understanding how foreclosures work and how this affects the buyer is critical to ensure you are getting a good deal and not a disaster.

What is a Foreclosure?

First it’s important to understand what qualifies as a foreclosure. A foreclosure is a property which has been taken back by the lender in order to satisfy an unpaid mortgage debt. It is owned by the bank or lender and they have now listed the property for sale.

Can I save money buying a foreclosure?

Yes and no! It’s true that lenders do not want to hold onto their foreclosed properties longer than they need to, but they also understand the value of the home in its current condition.

While deeply distressed properties might be listed at very low prices, good homes in decent condition might not be listed below comparables in the same area.

Is the buying process different from a traditional sale?

The actual buying process is the same; you write an offer, obtain financing and close. The differences lay in the protections and opportunities for negotiation during the process. Most foreclosures are sold “as is” and the lender will not negotiate repairs of any kind. There could also be clauses which remove other contingencies, such as financing or appraisal. The buyer needs to read the agreement very carefully.

Buying a foreclosure can be a great way to find a nice property at a discounted price. Not all properties are a good deal however. Understanding the foreclosure market and reading the contracts very carefully is the key to buying a foreclosure – this way you get the most home for your money without buying a problem.

Ask me for more advice as to whether foreclosures should be part of your home search.

Home Improvements with High ROIs

Home Improvements with High ROI

Is your house a little dated? Do you want to make some improvements or upgrades but also want to make sure that you get the best bang for your buck if you decide to sell? Not all home improvements bring a good return on investment when selling, so unless the improvement is simply for your own style and enjoyment, choosing projects with higher ROI just make sense.

Home Improvements with High ROI

• Add square footage – The best return on investment is adding space. Converting an attic or basement into a family room, adding a room or bathroom or even installing a garden room or outside kitchen will bring solid returns when selling.

• Bathroom and Kitchens – Remodeling a bathroom or kitchen will always bring more than their cost when selling. Create simple and soothing environments where a future owner can imagine themselves. Avoid heavy period-style cabinetry and surfaces.

• Doors and Windows – Upgraded doors and windows can really add impact to a room. Not only do current options save energy, they come in a wide variety of styles and finishes to accentuate the space.

• Garage Doors – If you have an old or weathered garage door, this is a relatively inexpensive way to dress up your home.

• Paint – Fresh paint is inexpensive and makes the home appear new and modern. Choose calm tones which compliment any décor.

Regardless of whether you’re considering a weekend project or a major remodel, understanding the return on your investment can help you make the best choice for your project. Home improvements can be costly and if you’re considering listing your home for sale in the future, make sure you can recapture your cost.

Seek A Consultation with me prior to doing any major renovations for selling your home,

Negotiating for Top Dollar

Negotiating for Top Dollar

Selling your home? Every seller wants to make sure they sell their home for the best possible sales price. Getting top dollar for your home is not as complicated as you might think. By using a simple negotiation strategy, you can make sure receive the best price for your home listing.

The first step in a negotiation strategy begins before you even list your home. Choosing the right real estate agent and listening to their advice regarding home value is important. Choose a realistic list price; over-pricing to “test the market” is not only a waste of time, but as the listing ages on the market, buyers are more likely to write lowball offers.

Once you receive an offer; review and respond to all reasonable offers. Never assume that a buyer isn’t serious just because the offer is lower than you’re willing to accept. Make a reasonable counter offer; if you are motivated to lower your price, you can, but if not, countering with a full price number is acceptable also. Just make sure your price is fair for the actual value of the home.

Consider compromising on terms. Often you can negotiate a higher sales price if you are flexible on other terms. Does the buyer need extra time to close/move? Would they like to have the garage shelves or patio furniture? Win-win situations do not have to involve compromising on price.

All negotiations are different, but by setting the proper stage and calmly navigating through offers, you can make sure you sell your home for the best possible sales price. Getting top dollar for your home is a simple strategy of fair pricing and unemotional negotiations.