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January 2017

Found 5 blog entries for January 2017.

Buying a home comes with costs that a lot of new homeowners are not aware of.  So, having a solid savings fund to accomplish this goal is very important.  Some costs besides a down payment one can see when purchasing a home are:

  • Closing costs
  • Earnest Money (which will go towards your down payment)
  • Initial payments on taxes and insurance

I get asked a lot if planning to have 20% of a home's purchase price to use as your down payment is a smart move.  This answer really depends.  The answer varies because buyer's do not all have the same financials, and are not buying the same types of properties.  For instance, putting down more on an FHA loan makes sense because it will lower your MIP (mortgage insurance premium).  However,  an investor

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I get questions from my clients all the time, wondering what they can do to net more from the sale of their home. Sometimes they are moving up to a larger home and sometimes the kids have just went off to college so they are ready to downsize. Either way, it’s important for them to sell their house for the absolute MOST amount of money they can possible net.

I always give them three important tips to consider, possibly months before listing their home on the open market.

#1 is to remove all personal items from the house. You’ve spent a lot of time trying to make your house a home but it’s now time to make the homebuyers comfortable in picturing it as their own place. Walk through the house as though you are a buyer and look for any “personalization”

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Many times I hear from clients these words, " We are not interested in just taking the first offer that comes along. We would rather wait longer to get our price..."

I will share something with you... Very often the first offer is actually the best one, and of course I am not saying here you should take it the way it was presented but you should start the negotiation process and by doing this open the door to a successful transaction. In the end, who knows when the next offer is coming. Exception to this is of course a multiple offer situation when you are receiving several offers in one day and that makes buyers "bid", similar to an auction. This is probably the situation you want to be in, as at that point likely you will end up getting a few extra

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On closing days there is a lot of documents that will need to be signed.  You will walk away with a thick folder filled with these documents.  Here is a list of the most important documents you should keep and file away for future use:

 

  • ALTA settlement statement. Itemizes all the costs — commissions, loan fees, points, and hazard insurance —associated with the closing. You’ll need it for income tax purposes if you paid points.
  • Closing Disclosure. Summarizes the terms of your mortgage loan, including the annual percentage rate and recision period.
  • Mortgage and note. Spell out the legal terms of your mortgage obligation and the agreed-upon repayment terms.
  • Deed. Transfers ownership to you.
  • Affidavits. Binding
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Every house will sell...

The question is how fast and for how much.Before listing your property you really should consider at the very least:

- professional cleaning

- paint walls that show age

- redo hardwood floors

- have your carpets professionally cleaned

- paint door slabs

- clean all windows, including the window frames

- get rid of odors ( by placing odor removers )

- obviously de-clutter the place

- replace all door knobs (if they show wear)

- install brighter light bulbs

Have your house ready for the showings, remove things from your counters ( including bathrooms, bedroom furniture, etc.). Do not cook if you know people are to come and see your house or schedule the showings for a later time. Leave the blinds

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