Buying a Home
Buying a home can be one of your most significant investments in life. Not only are you choosing your dwelling place, and the place in which you will bring up your family, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be. The goal of this page is to provide you with detailed information to assist you in making an intelligent and informed decision. Remember, if you have any questions about the process, we're only a phone call or email away!
Inspections are designed to help you understand the overall condition of a property, potentially saving you considerable time with the purchase process and hundreds or thousands of dollars in repairs. Some of the inspections which may be required or recommended by your real estate professional are:
Standard Home Inspection - The areas which may be covered include lot and grounds, roofs, exterior surfaces, garage/carport, structure, attic, basement, crawl space, electrical, heating and air conditioning systems, plumbing, fireplace/wood burning devices, and appliance condition. In some cases homes can be sold "as-is" even though an inspection may take place.
Asbestos Inspection - Lab analysis will determine if asbestos fibers are present and evaluate their condition. If friable or non-friable conditions exist, buyers should seek professional assistance.
On-Site Waste System (SeptiChekTM) Evaluation - SeptiChekTM is an evaluation performed by an on-site waste management professional. It involves accessing the cover of the septic tank to examine the fluid level inside the septic tank. The tank is then pumped to check the condition of the tank and its baffles. The leaching field is probed to check the level of sub-surface liquid waste (effluent). This test alerts the buyer to a wide range of potentially costly septic system repairs or failures. The SeptiChekTM evaluation provides more reliable information of potential problems than a septic dye test.
Pool/Hot Tub Inspection - Determines the overall condition and operability of a pool and/or hot tub's equipment. Additionally, the condition of the pool deck will be inspected for deterioration and/or other noticeable defects.
Private Well Flow and Potability Inspection - Designed to determine whether or not a private well adequately supplies water to the house. Samples are sent to a lab for potability (drinkability) analysis.
Stucco Siding Inspection - There are two types of stucco siding to be aware of: cement-based "traditional" stucco and synthetic stucco. An inspection of the siding's application according to manufacturer's installation specifications is recommended. Synthetic stucco siding is commonly referred to as Exterior Insulated Finish System (EIFS).
Underground Storage Tank (UST) Inspection - The most common methods for testing a UST, typically used to store oil for heating homes, are either the soil test or vacuum test. The soil test consists of random core samples taken around the location of the tank and submitting them for lab analysis. This will determine if any product has contaminated the soil at that particular area and to what extent. The vacuum test consists of having a technician seal off and place the tank under a vacuum. Readings are periodically taken to determine whether or not the tank is losing its vacuum. With this test immediate results are available for the buyers.
Obtaining the proper inspections for a home prior to purchase is one of the best ways to make a smart purchase decision and protect your investment.
As you start shopping for a home loan, your first question of each lender will probably be "What's your interest rate? How much are you charging?"
Interest rates are usually expressed as an annual percentage of the amount borrowed. If you borrowed $120,000 at 10% interest, you'd owe interest of $12,000 for the first year. With most mortgage plans you'd pay it at the rate of $1,000 a month. You would also send in something each month to reduce the principal debt you owe - and the next month you'd owe a bit less interest.
You need a good Mortgage Broker to help you through the process and have you pre-approved before you start to look for your home so there is no issues after you put in an offer, or so you actually know what you can afford.
Selling a Home
If you are thinking of selling your home, chances are you're caught up in a mass of emotions. You may be looking forward to moving up to a new home or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new and exciting adventures. Remember, we're here to help you with any of your needs. Call or email us today!
Setting the Listing Price
In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood (which can be in the form of a printed list from us, or online search results that you’ve found yourself), buyers will determine which houses they want to view. Consider the following pricing factors:
NOTE: Never say "asking" price, which implies you don't expect to get it.
To determine the proper list price, contact me today and I'll provide you with the following professional services:.
Using Comparable Sales
No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.
Also we can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices.
This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by us and may include properties currently listed for sale and those currently pending sale.
In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.