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Speed Reading Software
Top Tips for Buying and Selling a HomeBy Mark NashBuyers Looking for a home -Use Internet for overview of properties, communities, and schools. -Visit potential neighborhoods at different times of day. -Research price trends in communities and neighborhoods. -Consider resale prospects on home before you purchase. Get your new home inspected before you buy. -Hire a home inspection professional who is certified or licensed. -Attend inspection, ask questions and take notes. -Use inspection tour to verify home fits your needs. -Submit inspection problems to seller for remedy. Research home financing options before making a decision. -Fixed rate. The interest rate you pay is fixed over the term of the loan. -Adjustable rate. Interest rate changes at end of adjustment period. -Seller financing. Mortgage contract between property seller and you. -Avoid paying Private Mortgage Insurance. An insurance fee charged monthly to higher-risk borrowers less than twenty percent down payment. Retain a real estate attorney and buyers real estate agent. -An attorney should review contracts before you sign them. -Your attorney is your legal advocate from contract to closing/escrow. -Locate a real estate agent who has a fiduciary responsibility to you. -Fiduciary. Part of the common law of agency, indicates a relationship based on trust. Understand common contract terms. -Contingencies. A provision in a contract requiring certain acts to be completed before the contract is binding. -Approvals. Contract period where the sellers, their attorney, you or your attorney can approve or void the contract. -Earnest money deposits. Money given to the seller at the time of contract is made as a sign of the buyer’s good faith. -Tax Pro-rations. Credit issued at closing from the seller to the buyer for unpaid property taxes. Sellers Gather opinions of value from professionals on your home. -Invite three real estate agents to submit a price range based on recorded recent sales. -Consider hiring an independent real estate appraiser. -Use similar properties based on age, condition and size. -Properties sold in the last six months offer the best indicators of value. Stage your home before buyers come through. -Streamline clutter and place the focus on your home. -Neutralize colors so buyers can visualize their belongings in your home. -Visit new-construction model homes to gather ideas from the pros. -Invite family, friends or real estate agents over for feedback. Internet marketing provides wide exposure for your home. -Have a virtual or digital tour of your home in multiple websites.. -Post interior and exterior photos of your home on the Internet. -Hire a professional to write a description of your home. -Utilize maps to showcase your location for out-of-town buyers. Understand the elements of a contract to purchase. -Require all offers to be in writing. -A good contract has favorable terms in addition to price. -Limit fixtures excluded from sale of home to a maximum of three. -Keep negations non-emotional and amicable. Recognize the variables that real estate agents can’t overcome. -Buyers bypass over-priced homes. -Homebuyers discount homes in poor condition. -Homes with poor locations have longer market times. -Buyers are more relaxed and curious during showings when sellers are gone Mark Nash real estate broker, writer and author of 1001 Tips for Buying and Selling a Home (Thomson 2005) specializes in helping others succeed in real estate. http://www.1001realestatetips.com 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 |