Thinking of Buying a Home?
In searching for a home, you need to first do some "home work". The best way to start is to get yourself "Pre-approved". Some buyers think that "Pre-qualifying" is the same...IT IS NOT!!! There is a BIG difference. If you are in competition with other "buyers" for the same home, you definitely have an edge by being pre-approved with a mortgage lender, filling out all the necessary paper work, providing personal data that the lender requires. They will also update your credit to make certain you are credit-worthy for a home mortage loan. When all information has been gathered and verified, it will go to "underwriting", which means the loan will either be rejected or approved, depending upon the strength of the buyer
With this process being completed, all you need to do is find the home. Negotiating an offer will be to your benefit since you are a TOTALLY APPROVED BUYER. Then it will be up to the home to be "approved", or rather, appraised by the appraiser.
This process may seem somewhat time consuming, but sooner than later it will need to be done, and it definitely makes you a serious buyer and could possibly make the difference in getting a home. Not always is it the offer with the highest price that the seller accepts.
Thinking of Selling Your Home?
Here's some things you should consider...
TIMING
Timing is everything in your golf swing, in when to take the turkey out of the oven, and in selling real estate. Supply and demand make real estate sales. Any evaluation of the real estate market at a particular moment is subject to change with market events in the next moment. Neither you nor we can change the market situation. We must live with it.
COMPETITION
The rapid real estate sale occurs because the product beats competition! What else is on the market when your "FOR SALE" is posted? Buyers are comparative buyers. They are about to make the largest investment of their lives and they are not impulsive about it. How does your home measure up against the COMPETITION?
PRICE
The best opportunity to sell your property is most likely in the first sixty (60) days that it is on the market. The longer a property stays on the market, the less the chance for an offer. Make certain that your property is listed at a competitive price. Pricing your home just a few thousand dollars more than the competition could possibly result in a "no-sale!". By overpricing you may have no, or few showings, and your property may actually help sell the competition.
Make Your Home Exciting!
We don't get a second chance to make a first impression. Most buyers look for homes that are well cared for and bright. In general, clean and spiffy.
CHECKLIST FOR FASTER SALES
Lawns and yard - remove clutter, cut grass, edge walks, trim hedges, weed gardens.
Front of house - paint, fix or wash railings, steps, storm/screen and/or front door.
Other exterior - side or back door, gutters, wash windows
Garage - straighten-up, paint, fix or wash doors and windows
Plumbing - repair dripping faucets, leaky toilets.
Heating/cooling - clean exterior of unit
Lights - replace all burned out bulbs, faulty switches
Halls and stairs - remove any clutter to give wide appearances
Hardware - oil hinges, tighten door knobs, faucets
General Condition - dust, wash, paint, fix defects, as required
Consider feeling of spaciousness - store unneeded items to "enlarge" room size
THESE ITEMS ARE SUPER CRITICAL
Kitchen - stove, refridgerator, sink should be spotless, all work space clear
Bathrooms - neat, spotless, and fresh. Repair caulking around tub, shower, sink, and toilet
Closets - untidy or over-crowded closets suggest inadequate storage space
HOW TO HELP OUR SALES AGENTS
Children, pets and adults can keep buyers from feeling at ease while they look through a home
For showings, please be out of the house if possible
Turn lights on in each room for showings
Open drapes in the daytime, close them for night showings
Strong cooking or smoking odors can ruin a sale. Make sure your home is fresh for showings
Be ready for appointments, many will be at short notice
Never let anyone into your home without an appointment
You have the right to ask for proper identification of any sales personnel.
Refer any questions the potential buyer may have to your agent. This is in your best interest.
Now you have only to wait for the most welcome sign of all... "SOLD"
ABOUT THE APPRAISAL
Some of the most important requirements on the home that sellers should pay particular attention to are:
Peeling paint or bare wood on exterior (if the paint on interior is obviously needed, it should be done also.
Cracked cement foundation or steps
Leaky roofs
Any water damage in interior or exterior
Loose shingles
Loose doors
Loose rugs/holes in carpet
Uplifted vinyl (or missing vinyl tiles)
Missing railings on stairs
Holes in doors or walls
Cracked or pitted windows
Missing screens on any venting windows
Faulty or missing door knobs
Faulty or missing handles for opening windows
Paint in window sills
Doors on all closets and bathrooms
Loose or missing tile in tubs or shower
Leaking shower pans
Faulty heating system
Faulty air conditioning system
Faulty plumbing systems
Faulty sprinkling systems
Faulty lighting or electrical systems (includes outlets)
Inoperable appliances (built-ins) - if they are included in the sale
If the home needs these minimal repairs it is imperative that they be done before the appraisal or there will be a re-inspection fee.
Each home is evaluated individually and as each lending institution have some of their own standards, there may be other requirements of the seller. The best advice is to offer the home in the same condition, as you would want to buy it yourself. |
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