TIPS FOR SELLERS

Step 1: Create a Marketing Plan:

Create a marketing plan for your home that will help distinguish it in your local marketplace and attract buyers to your property. This may include advertising in the newspaper, posting your listing on the Internet, and/or holding an Open House. I can help create a customized marketing system to serve as a personalized selling program for you. Our goal is to sell your home at the best possible price in the shortest amount of time.

Step 2: Set the Price:

A key component of your marketing plan is setting the list price. If your home is priced too low, it may cost you money. If your home is priced too high, potential buyers may be scared away. To determine the best asking price, review the cost of recently sold homes, evaluate the competition, and study marketplace trends. I am trained to use this information to your advantage and help you reach the right asking price. It is also helpful to discuss other terms and conditions, such as timing and items that can be included with the sale of the home. Such things can make your home more attractive to potential buyers.

Step 3: Showtime!

Now it's time to get your home ready for the spotlight. Start with a good cleaning. Eliminate any clutter, add a fresh coat of paint, and tidy up the yard. Talk to your real estate professional about other tips that can help boost a home's curb appeal and impress potential buyers once they're through the door. One way to make a home more attractive is to purchase a Home Protection Plan. This insurance protects you (the seller), from paying repair or replacement costs of major items during the listing period. It also protects the buyer during their first year of homeownership.

In addition, make sure you are aware of all federal, state, and local disclosure laws. I can provide you with this information, or you may contact specific local and federal government agencies.

Step 4: Protect Yourself:

In some cases, a home sale can also be an invitation for danger.  Here are a few simple things you can do to make the process a little safer:

·         Ask for identification

·         Ask for pre-approval letters

·         Lock up and hide collectibles and valuables

·         Remember "For Sale" signs bring in buyers.  Do not allow your children to open doors to strangers.

·         If you have pets, make sure they are controlled.

·         Remove any dangerous items throughout the home.

Feel free to contact us for additional safety considerations for protecting your family and home.

Step 5: Make the Deal:

A buyer has made an offer - now it is time to negotiate. Rely on your real estate professional to guide you through this process. He or she will help you arrive at an acceptable price, terms and conditions. Once you have accepted an offer, he or she can help keep the deal together by meeting deadlines and criteria (including home inspections, appropriate buyer visits, scheduled deposits and other steps). In fact, during this period there may be a re-negotiation of the accepted offer price (depending on the outcomes of these visits). As the closing nears, you may also need to perform repairs or do additional work to the house as agreed upon in your contract. In addition, you will need to have the house "broom clean" prior to closing so that the buyer can complete a final walk-through. When you finally arrive at the closing table, come prepared with the appropriate certificates and approvals as required by your town, county and state. I can provide a list of these for you or you may ask your local government agencies. Once the money has exchanged hands and all the papers are signed, it's time to hand over the keys and concentrate on your next big project - getting YOUR new home in order.

MORTGAGE TERMS

ARM: "adjustable rate mortgage" - vary widely by lending institution and client situation.  Some begin with lower interest rates that will increase within a certain time frame.  Others are fixed for a certain number of years.  Sometimes these options allow for lower payments during the beginning of a loan.  Speak with a financial  professional to determine what's best for your family.

Assets:  properties, both tangible and intangible, and claims against others that may be applied to cover the liabilities of a person or business. Assets can include cash, stock, inventories, property rights, and goodwill. (©Websters.com)

FHA: Federal Housing Administration loan

Fixed rates: the interest rate remains the same over the life of a loan.  You normally have the option to select a 15 or 30 year term.

Liabilities: financial obligations, responsibility, or debt.

Origination Fees: are usually one to two percent of the loan amount. Some lenders will waive these fees.

Preapproval:  a loan commitment from a lending institution.  This involves a formal loan application process and verifies employment, income, and credit history.

Prequalification:  an estimate of what you can afford.  This information may be received over the phone by speaking to a mortgage lender.  This service is usually free of charge, but does not verify income, credit history or employment... and implies no commitment.

VA: Veterans Administration loan      

STAGING TIPS FOR SELLING YOUR HOME

Your real estate professional will provide you with an effective marketing plan.  He/she will assist you with a market analysis, pricing, and contract terms.  They will get your listing the proper exposure and bring buyers to your front door... but when a potential buyer walks in, you have the power to peak their interest...

·         Remove excess furniture to make a room look larger.

·         Clean out closets and minimize clutter in the garage and storage spaces.

·         Paint with neutral colors - it's the least expensive way to update your decor.

·         Clean floors, cabinets, and appliances.

·         Plant attractive flowers, mow and water the yard, and repair any obvious items that may affect curb appeal.

·         Keep your pets at bay or take to a friend's home.

·         Take out trash and put away stray items like clothing, books, magazines, bills, etc.

·         Turn on lights and open curtains or blinds to improve the brightness of a room.

·         Repair decks, stair rails, and steps.

·         Put away toys and yard items.

·         Consider updating decor or removing out-dated accessories.

MOVING & PACKING TIPS

Moving to a new home is certainly a life-changing experience.  Moving may seem stressful at first, but you will encounter great opportunities to improve your living situation through the process.  It can be a time to reminisce, clean out clutter, update your decorating style, and become more organized.  Since the majority of moving families prefer the "do-it-yourself" method, we thought we'd share a few tips with you:

·         Allow plenty of time to plan in advance.  Do some comparison shopping for the best moving company rates and schedules.  You will need to allow plenty of time to reserve a truck. 

·         Make a list of agencies, vendors, friends, and family who will need your change of address.  Remember to transfer school records and medical information. 

·         Visit the post office to schedule mail forwarding.

·         Get boxes ahead of time - an lots of them!  Visit local stores and packing companies to stock up on boxes of all sizes.

·         Use appropriate boxes - make sure the box you select is sturdy and large enough to handle the weight of its contents.  Many items are damaged in a move due to shifting contents or burst containers.  Be sure there's room enough around your objects to place plenty of packing materials such as newspaper, bubble wrap or packing peanuts.

·         Start with items you can live without and pack a few boxes every day.  Packing over a series of days (or even weeks) ensures you have time to think about the process of grouping household items.

·         Get organized - label the outside of your boxes logically and be sure to include details about contents and room assignment.  Place clear packing tape over your labels to ensure they don't fall off in the moving process.  Index cards work great for this.

·         Be sure to inspect all rental trucks, contracts, and rental equipment.  Make sure you know how to open and secure ramp-ups, roll-away doors on trucks, and how to properly use carts or hand-trucks.

Most importantly, BE SAFE!  Serious back injuries can occur by moving very little weight in an unsafe way. Follow these proper lifting methods:

·         Use your legs!  Bend with your knees while keeping a straight back to lift heavy objects.  Never arch your back to reach or lift an object away from your body.

·         Keep objects close to your torso for maximum distribution of weight.  The farther an object is from your core, the more strain it places on your spine.

·         Remember to seal the bottom of boxes.  It's easy to remember to place tape over the top of a box, but it's not fun to have the bottom drop out upon lifting! Be sure the box is reinforced with tape on all seams.

·         Drink plenty of fluids as you move and lift.  Packing forces your body to use muscles you may not be acquainted with!  Drinking and stretching will help reduce fatigue and prevent injuries.

TIPS FOR BUYERS

Step 1: Define What You Want

Start by creating a prioritized list of features you want in your next home.  Consider why these are important to your family.  Use the list as your search guide.  Remember - depending on your funding, you will probably need to make a few compromises.  In addition, talk to your real estate professional about where you want to live.  Determining location is a huge part of any move.  I am trained to help you narrow your choices by sharing market trends and local information.  Contact me for neighborhood statistics and community related questions.

Step 2: Figure Out What You Can Afford

Now that you know what you want, it's time to see what you can afford.  I'll help you get started by assessing preliminary figures.

When you're ready to move to the next step, you'll want to get pre-approved for a mortgage.  This process is often performed in under an hour and it accomplishes two important goals:  A pre-approval will tell you how much house you can afford and what your monthly payments will be.  It also assures the seller you can afford to buy their home.

By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property.  Many times a buyer can use this pre-approved status as leverage during the negotiation process.

Step 3: Shop For Homes

Once you know what community you'd like to live in and have an idea of how much house you can afford, it's time to start checking out actual properties.  Beginning this search online can help save valuable time.  The online process can help you identify homes that meet your search criteria.  I can even notify you via email when a property comes to market that meets your specifications.

Next, begin visiting homes in person.  Ask me to arrange visits and attend open houses that are in your target area and price range.  When comparing several homes, make sure to look at all aspects of the property.  Is the property tax approximately the same?  Are both houses renovated?  Do both have the same amount of bedrooms and bathrooms?  Are both houses located on the same or similar streets?  Does either house have any encumbrances?

Remember to keep an open mind when you are looking at homes.

Step 4: Make An Offer

Once you find the home you want, you need to make an offer to the seller.  Typically this is a very difficult and trying time since both parties have completely different goals.  In most cases, it is better to have a third party, such as a real estate professional, negotiate the offer.  If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status, or your feelings about their property - positive or negative.  This could impair you in future negotiations.

This is  also a good time to consider purchasing a home protection plan.  These insurance policies can be purchased (by the buyer or seller), and help protect against unexpected costs or home repairs both during the listing period and in the initial years after a home is purchased.

Step 5: Inspection & Insurance

After your offer is accepted, you will need to set up, coordinate, and interpret various inspections (i.e. insect, radon, building quality, oil tank, title, etc).  You will also need to arrange for homeowners insurance and finalize the mortgage process.

This is a major step in the buying process.  There are many potential problems that can be discovered during this period.  These include a leaky roof, radon gas, termite damage, foundation problems, and wall cracks - to name a few.  These problems surface all the time.  The difference between closing on your dream home and starting the process all over again is what events occur during the negotiations between you and the seller.

As your agent, I can help make these discussions go more smoothly.  In most states, you will also have the option of a "walk through" before the closing.  This is your last chance to make sure that all of the items that you have agreed upon were completed to your satisfaction.

Step 6: The Final Closing

Before you arrive at the closing, make sure all the necessary paper work and deposits have been completed.  If the mortgage, title work, homeowners insurance and other items necessary under local and state laws are not completed and brought to the closing table, the closing may not take place on time.  Depending on what the contract says, this could result in further action including financial penalties and even the loss of your rights to the home.

Once you close, it's official - you own the house!  There might be a few things you want to do before you lay out the welcome mat... These include arranging for an alarm system, turning on the electricity, subscribing to the local paper, cleaning or replacing the carpet, arranging for lawn services, etc.  This could also be a good time to make needed renovations.

IMPROVING YOUR CREDIT SCORE

Improving a credit score is always a concern for prospective home buyers.  Lenders will review your credit history along with current income, assets, job history, current employment status, and requested mortgage types.  With better credit, you will be eligible for more favorable interest rates and terms.  Talk to a mortgage professional to get started with a pre-approval process.  In the meantime, remember a few simple rules:

·         Pay your bills on time, over time.

·         Never have too many lines of open credit.

·         Only apply for credit when there is a need.

·         Pay off debt.

·         If you must use credit cards, keep balances low.

Credit scores evolve over a period of time and they can only be improved in the same way.  Plan ahead and use your resources wisely to ensure a better future.