Now that you have decided to buy a new home in Charlotte real estate, whether you are a first timer in this tedious process or you have some experience before with home buying, you should now start to shop around for the house that would fit you perfectly. However, you should be very careful since it can really be difficult, considering that this can be one of the biggest steps in a person’s life in which you need to take every factor into consideration first.

To make house-hunting for you a little bit easier, you should plan ahead. Below are some tips on how to shop around for the perfect home for you:

1. Budget

First of all, you ought to know the amount of money you can afford to spend to buy a property; It will save you and your real estate agents a lot of time and effort. Figuring out how much of a mortgage loan one would be approved for, based on credit and income, and factoring all the likely costs are necessary to come up with a detailed plan in purchasing your new home. These costs may include the following:

- Maintenance costs

- Utilities

- Property taxes

- Homeowners’ association membership fees, if applicable

2. Market

Figure out what type of house you like and can afford to buy, as well as the location where you want it. Is it near a school, your workplace, and so on and so forth. Look around the various neighborhoods in Charlotte that attract your attention, bearing in mind where your finances stand. Search the internet for trusted online open houses. It’s advisable to try looking in the sales prices of properties that are similar to the type you like so that you can weigh your options and clue you in to the evenhandedness of the price once you are able to purchase it. Do your homework and familiarize yourself with the local market.

3. Loan

Research about the best and most realistic rates and terms of mortgage loans. You can purchase a house faster and easier if you first get pre-approved for a home loan. Ask your broker in regards to exactly how much you need for the closing costs of the property. This will help you figure out how much you need to set aside for down payment, which in turn will aid you to know how much your loan and estimated monthly mortgage would be. Loan rates could go as fair as 20 percent, but through planning and asking around the area, you may possibly find lower offers.

4. Duration of Stay

The duration of your stay in the house can be a big factor when shopping around for a home. You can save better if you stay longer. This is because you are spreading what are called upfront costs of purchasing a house. Up to 10 percent of the sales price would be added up to the home’s closing costs, the loan and inspection expenses, as well as your real estate agent’s fee.

It is important to keep in mind these useful tips on how to shop for Charlotte homes for sale. It is really a huge legal and financial commitment, be it by buying it on your own, or with the services of a skilled real estate agent to represent you. By means of following these basic steps, hunting homes can be a lot easier for you.

Some Buyers are not deterred by issues as large as major foundation cracks, while others will run from seemingly routine disclosures. Some walk away at the mere mention of asbestos in the basement or suspect lead paint in the house, while others find these to be no big deal. Some expect a Seller to repair every little nit picky detail, including squeaky floors, while others are willing to buy As-Is. Why wait until the last minute to see what type of Buyer is interested in your home. Allow Massachusetts Home Inspections to assist you in obtaining the highest price in the shortest time by helping you turn your home into a Buyer friendly home. Virtually every home will benefit from my pre-sale makeover, because the information I will be supplying you (in advance) is helpful, so you’ll be in a favorable negotiating position when the offer does come in. It’ll allow you to negotiate from a position of strength. Information (about your home) is power in a successful property transaction.

What happens when your home is not prepared as a Buyer friendly home? The Buyers home inspection may contain issues that could be detrimental to the sale of your home. Ideally, both yourself and the Buyer usually work together to resolve any serious issues that may arise, but it’s not always that easy. Convincing the Buyer(s) (at this point in time) that their concerns will be quickly corrected by the closing date may be difficult. Then convincing yourself to act quickly to correct any major issues is also very difficult. The Buyer is now requesting a discount in your listing price. The sale is now in jeopardy and the deal may come to a screeching halt, which ultimately causes you to sell the house a second time to the next Buyer that comes along. Now the home inspection process starts all over again.

Finally, there is one secret all Sellers need to know. Buyers make their decision to purchase a home based on emotion and they justify that decision with logic. And another thing is equally true: Buyer’s can fall out of love with a home just as quickly as they fell in love it. So why let the Buyer’s Inspector develop a long list of items needing repair thereby jeopardizing the sale of your home?

How do you prevent this pitfall? Very Simply…

A PRE-LISTING INSPECTION

Before you decide to place your Massachusetts home on the market, take a more proactive approach and allow me to assist you in getting your home to stand out in the crowd amongst other homes in this competitive market. You may as well find out (now) what the Buyers Home Inspector is going to find, by getting Massachusetts Home Inspections in there first. I’ll give you a better understanding of your existing conditions which may be discovered by the Buyer’s Inspector. I’ll educate you on the present physical condition of your home and identify those problem areas and safety issues that need your attention now. I’ll identify those crucial areas that typical home buyers tend to negotiate over and the expensive items that usually make a Real Estate sale fall apart. Upgrading or fixing these issues will prevent any problems from occurring at the “eleventh hour” before the transaction closes.

My inspection is going to be your insurance policy for a smooth and speedy transaction and it will assist you in obtaining full list price for your home. It also shows good faith in carrying out the disclosure requirements. It communicates to the Buyer that you (the Seller) are willing to disclose all shortcomings, thereby paving the way for smoother, more agreeable negotiations.

You will then go over my findings and have plenty of time to make the repairs and improvements on your own terms and budget, with plenty of time to spare. Knowing about the problem now will save you thousands by simply being able to shop around and get competitive bids from licensed contractors rather than being forced into paying for a rush job by unqualified contractors at the last minute. Upgrading and repairing those defects now will put the house in better selling condition and prevent Buyers from negotiating over every little issue. It also reduces negotiable items in the sale and shows prospective Buyers you’ve shown initiative in trying to avoid sticking points.

HOME SELLER TIP – If you do not plan on repairing defects for the sale, consider contacting reputable contractors (in your area) to provide you with their repair estimates for any significant defects that are noted in your Pre-Sale inspection report. Inexperienced home Buyers often have no idea how much it will cost to replace a roof, remove asbestos from their heating system or treat for Termites. Fear of the unknown is intimidating, so enclose all reasonable estimates in your Pre-Sale inspection report. This may absolutely assuage the Buyer’s concern.

After preparing your home, you can now sit back, relax and enjoy reduced liability and less negotiating because fewer problems will be discovered by the Buyer’s Inspector. A proactive disclosure, in many cases, is met with appreciation on the part of the prospective Buyer; and it’s not likely to kill the deal. If you disclose certain defective items “as is” and stipulating that they are reflected in the purchase price, Buyers become aware of the condition of the house before an offer is even made. There will not be any surprises and the deal is far from falling apart. If the problem is unveiled later, however, prospective Buyers are likely to think that you tried to deceive them. Most of the time, you had no prior knowledge that the problem even existed. You should have all the information needed to help make your selling transaction less frustrating and to function more smoothly.

Lastly, pre-inspections protect the safety of both the Seller and the Buyer. I could, in fact, uncover a potential disaster waiting for the first opportunity to strike. Since you are likely to remain in the home for a period of time during the transaction process, the discovery of such a problem benefits everyone — Seller and Buyer. And the sooner the problem is discovered, the less expensive it is (for you) to repair.

If you would consider Massachusetts Home Inspections to assist you in turning your home into a Buyer friendly home, you won’t regret it. With a Pre-Listing inspection, you’ll see the smoothest transaction that anyone could ever experience. I guarantee that you’ll see a big improvement in the transaction process over other home sales and all parties involved will experience a worry-free and smooth sale. At Massachusetts Home Inspections, I believe that presentation is enormously important. Buying a home is one of life’s most important purchases and how the house looks and feels is crucial.

Having a Pre-Listing Inspection performed ahead of time helps in many ways:

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It allows you to see your home through the eyes of a critical third-party.
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It helps you to price your home realistically.
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It permits you to make repairs ahead of time so that defects don’t become negotiating stumbling blocks later.
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There’s no delay in obtaining the Use and Occupancy permit.
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You’ll have plenty of time to get reasonably priced contractors or yourself (if qualified) to pull permits and make needed repairs.
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It may encourage the Buyer to waive the inspection contingency.
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It will alert you of items of immediate personal concern, such as active termite infestation or structural deficiencies.
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It may relieve prospect’s concerns and suspicions.
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It greatly reduces your liability by adding professional supporting documentation to your disclosure statement and alerting you to immediate safety issues before agents and visitors tour your listing.

Resolving home inspection issues can be contentious and even a deal-breaker, but well-informed Buyers and sellers are more likely to coast into a much smoother closing. Everyone involved in the sale will benefit from a PRE-LISTING INSPECTION.

The Seller:

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Will help protect Seller from the failure to disclose known defects
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Gives the Seller a chance to correct problems or reflect them in their asking price
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Prevents last-minute re-negotiations for unknown defects
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Assures the sale will progress smoothly towards the closing date

The Buyer:

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Discloses up front, any major problems with the property
*
Prevents having to find another home due to unknown defects that arise
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Gives confidence that their decision to purchase the property was the right one
*
Provides a guide on future expenses in owning the property

The Sales Agent:

*
Prevents a sale from falling apart at the last minute
*
Reduces the amount of negotiations that will take place between the Buyer and Seller
*
Assures the agent that the property condition has been properly disclosed, thereby reducing chances of litigation later on
*
Prevents having to sell the Buyer a second time because of unknown defects

HOW MY PRE-INSPECTION PROGRAM WORKS

Simply contact me and I will personally arrange a date and time with you to conduct the home inspection. When the inspection is completed, I’ll hand you your easy-to-read, easy to understand home inspection report explaining all my findings. You can then decide what improvements may be necessary in order to avoid problems that may arise on the upcoming Buyer’s home inspection. If you do not want to make improvements to your home, then my findings can be added into the sellers disclosure. Disclosing those issues “as is” will inform the Buyers (up-front) what their getting into. Your objective is to minimize unpleasant surprises now, so you don’t face difficulties later.

Your pre-inspection report is your negotiating tool that gives validity to your asking price. It also places confidence in the minds of prospective Buyers’, who want to know that they’re not jumping into uncertain territory. If your plans include an Open House, my pre-inspection report can be left on the kitchen or dining room table for any potential Buyer to review before making an offer or ordering their own home inspection. I recommend that you place any copies of receipts for maintenance and repairs that were completed on the house right next to my inspection report. This prevents a re-negotiation of the asking price based on some unknown defect(s).

Chances are good that a serious prospective Buyer would hire his or her own Home Inspector to conduct an investigation of your home. This is positively acceptable. After all, everyone likes to have their own champion in their corner. Their inspector will comb through the house and locate issues that I had already noted on your report. The Buyer can now compare the pre-inspection report with the findings of their home inspector. These two reports will be somewhat identical (if the Buyers inspector is as thorough as I am) and any issues will be known up front.

If everything adds up and both reports are favorable, the Buyer will be much more likely to pay full asking price without a challenge. Now that’s what every Seller wants to hear. You as the home owner can relax in the confidence that a major problem will never turn up other than those items that were indicated in my major component inspection report.

Please do not hesitate to contact me if you have any further questions regarding a Pre-Sale home inspection before you place your home on the market. Let’s work together and get that “SOLD” sign posted out front of your home in no time.

Since the economic downturn of 2008, the real estate market has been challenging for REALTORS and buyers and sellers. For those who have cash for a home purchase, or can obtain a mortgage, there has never been a better time to buy property. Real Estate is, and will remain for some time, a buyer’s market.
Sellers are still adjusting to this shift, and need to be realistic about what this means when they are preparing their home for the market.
I am going outline both the home buyer and home seller perspectives in this article so that both sides can gain a clearer view of the tenor of the present market.

Home Buyers: What are They Looking for in the Current Real Estate Market?
Since buyers are now a select group with ample choices, they can afford to be picky about the properties they purchase. Today, I find that many of my buyers want to walk into instant equity in the home they purchase. There are opportunities to buy short sales or foreclosed properties where the purchaser can walk into equity — providing the property is in good shape. Most of the time these types of home purchases will need updates and/or repairs.
Home buyers wishing to obtain ‘instant equity’ in a home purchase need to prepare themselves in two ways. First, a down payment of 5-20% will be required depending upon the type of loan they qualify for. Home buyers also need to make certain their credit scores are high enough to obtain lending approval.
Those buyers who prefer to purchase properties that are not bank owned will want to make that purchase based on a current appraised value. A savvy home buyer will look for a property in pristine condition. This type of buyer will most likely expect to move in and not have to perform any work on the property. These types of expectations are especially true for real estate purchases where individuals are downsizing from larger to smaller homes.
Even though some states may not require it, buyers will insist upon home inspections before purchase. I advise my home buyers not to get too caught up on the cosmetics of a property (i.e. rugs need to be replaced, holes in the dry wall, wood rot on the railing). These minor issues with a home are easily fixable. I encourage home buyers to focus on structural integrity of the home instead. This means the plumbing, electric, heating, air conditioning and roofs must be in good condition. These aspects of a home affect the integrity of the property, and require time consuming and costly repairs. Remember that some FHA and VA loans will not approve mortgages unless the home is structurally sound.
Nowadays, home buyers cannot count on owning a home and selling it a year or two later. A home purchaser should plan on owning the property for three years or longer, even if it has to be turned into a rental property. Today’s real estate purchaser has many more demands than a buyer did three or more years ago.

Home Sellers: It’s Time for a Reality Check
On properties for sale where I am the listing agent, I advise my sellers to return to the traditional strengths of a property. If a seller truly wants to sell, he or she must evaluate current pricing, location and condition.

Pricing a Property for Sale
There is no doubt about it: price is the defining criteria of real estate transactions today. Most cities and counties have raised the assessments over the last five years. Presently, these assessments are often equivalent to current appraised values. This is not good news for many property owners, who have lost equity in their home.
In many real estate markets, short sales and foreclosures are sold near the property listed, and appraisers have to use these comparable sales in approximating the value of a home. Sellers should NOT be surprised if an agent asks them to price their property below current assessed values. Fulfilling this pricing request will be necessary if there are multiple foreclosures or distressed properties in their neighborhood or homeowners have sold their properties at lower than market value out of necessity.
When I ask a home seller to lower his or her price, he or she is often inclined to take this personally. It is just like I told the seller his or her children are ugly and the grandchildren will be ugly, too. Home sellers: it is time for a reality check. Do not take the suggestion to lower a selling price personally! I know when a house is priced correctly because there is a peak in interest measured by an increase in inquiries and showings. If a home has been on the market for three months or more, and it has not been shown, it is probably overpriced.

Selling a Home in a Convenient or Popular Location
Do not over improve a home for the neighborhood. Home sellers must remember this cardinal rule of real estate: your home does not need to be the biggest and best, but it is certainly beneficial to be around the biggest and best. If a property is close to a metropolitan area, or in an upscale subdivision, more buyers will want to purchase it. Premiere locations should be reflected in price. If a house is 25 minutes outside of town and it takes a half hour to reach a store, the amount of time a home spends on the market will most likely be longer.

Sellers: Take a Critical Look at a Home’s Condition, and Make Improvements
The first impression a buyer receives of a home is a lasting one. Landscaping does not cost a great deal and it is well worth the investment if you are selling a property. Curb appeal encourages buyers to get out of the car and into the house. Plant flowers in the garden. Put a wreath on the door. If a home has old orange shag carpet and green laminate countertops, this will be reflected in the pricing of the home. Put some money into improving the property. If a seller is really serious about closing a home sale, then he or she will want it to stand out above the rest.
Sellers have come to expect reimbursement for upgrades and improvements. In this market, things are different. Remember, the buyer can afford to be picky. Complete upgrades on the property in order to make it more enticing, and to help the home sell quicker. But — do not expect these upgrades to increase the price of a property. The more dated a home is the longer it will sit on this real estate market. A buyer can just as easily purchase a bank owned property that needs improvement, for a lower price. This is a price driven market. Make your property easier to sell by completing improvements before it goes on the market.

Where do Home Buyers and Sellers Meet?
There are excellent houses on the real estate market and some good buys right now. If both parties are willing to negotiate and be reasonable, they will inevitably reach the closing table. A vacant home with mortgage payments, taxes and utility expenses drains monthly incomes and financial reserves. Owners who have had a home on the market for some time need to seriously consider dropping the price $5,000-10,000 to complete a sale, rather then bleeding money every month.

What to Expect When Closing a Sale in Today’s Real Estate Market
Since down payments are now required, home buyers will usually ask for closing costs to be covered by the seller. If the seller is not in a position to cover all closing costs, I recommend they at least offer some sort of assistance. If the house is sold as is, and the home owner does not plan on doing any improvements – be prepared to negotiate price.

The current real estate market requires more work on the part of the seller, and buyers have become choosier in the properties they do purchase. Remember these suggestions when you put your home up for sale, and your home will be more inclined to sell within the first six months.

Since the economic downturn of 2008, the real estate market has been challenging for REALTORS and buyers and sellers. For those who have cash for a home purchase, or can obtain a mortgage, there has never been a better time to buy property. Real Estate is, and will remain for some time, a buyer’s market.
Sellers are still adjusting to this shift, and need to be realistic about what this means when they are preparing their home for the market.
I am going outline both the home buyer and home seller perspectives in this article so that both sides can gain a clearer view of the tenor of the present market.

Home Buyers: What are They Looking for in the Current Real Estate Market?
Since buyers are now a select group with ample choices, they can afford to be picky about the properties they purchase. Today, I find that many of my buyers want to walk into instant equity in the home they purchase. There are opportunities to buy short sales or foreclosed properties where the purchaser can walk into equity — providing the property is in good shape. Most of the time these types of home purchases will need updates and/or repairs.
Home buyers wishing to obtain ‘instant equity’ in a home purchase need to prepare themselves in two ways. First, a down payment of 5-20% will be required depending upon the type of loan they qualify for. Home buyers also need to make certain their credit scores are high enough to obtain lending approval.
Those buyers who prefer to purchase properties that are not bank owned will want to make that purchase based on a current appraised value. A savvy home buyer will look for a property in pristine condition. This type of buyer will most likely expect to move in and not have to perform any work on the property. These types of expectations are especially true for real estate purchases where individuals are downsizing from larger to smaller homes.
Even though some states may not require it, buyers will insist upon home inspections before purchase. I advise my home buyers not to get too caught up on the cosmetics of a property (i.e. rugs need to be replaced, holes in the dry wall, wood rot on the railing). These minor issues with a home are easily fixable. I encourage home buyers to focus on structural integrity of the home instead. This means the plumbing, electric, heating, air conditioning and roofs must be in good condition. These aspects of a home affect the integrity of the property, and require time consuming and costly repairs. Remember that some FHA and VA loans will not approve mortgages unless the home is structurally sound.
Nowadays, home buyers cannot count on owning a home and selling it a year or two later. A home purchaser should plan on owning the property for three years or longer, even if it has to be turned into a rental property. Today’s real estate purchaser has many more demands than a buyer did three or more years ago.

Home Sellers: It’s Time for a Reality Check
On properties for sale where I am the listing agent, I advise my sellers to return to the traditional strengths of a property. If a seller truly wants to sell, he or she must evaluate current pricing, location and condition.

Pricing a Property for Sale
There is no doubt about it: price is the defining criteria of real estate transactions today. Most cities and counties have raised the assessments over the last five years. Presently, these assessments are often equivalent to current appraised values. This is not good news for many property owners, who have lost equity in their home.
In many real estate markets, short sales and foreclosures are sold near the property listed, and appraisers have to use these comparable sales in approximating the value of a home. Sellers should NOT be surprised if an agent asks them to price their property below current assessed values. Fulfilling this pricing request will be necessary if there are multiple foreclosures or distressed properties in their neighborhood or homeowners have sold their properties at lower than market value out of necessity.
When I ask a home seller to lower his or her price, he or she is often inclined to take this personally. It is just like I told the seller his or her children are ugly and the grandchildren will be ugly, too. Home sellers: it is time for a reality check. Do not take the suggestion to lower a selling price personally! I know when a house is priced correctly because there is a peak in interest measured by an increase in inquiries and showings. If a home has been on the market for three months or more, and it has not been shown, it is probably overpriced.

Selling a Home in a Convenient or Popular Location
Do not over improve a home for the neighborhood. Home sellers must remember this cardinal rule of real estate: your home does not need to be the biggest and best, but it is certainly beneficial to be around the biggest and best. If a property is close to a metropolitan area, or in an upscale subdivision, more buyers will want to purchase it. Premiere locations should be reflected in price. If a house is 25 minutes outside of town and it takes a half hour to reach a store, the amount of time a home spends on the market will most likely be longer.

Sellers: Take a Critical Look at a Home’s Condition, and Make Improvements
The first impression a buyer receives of a home is a lasting one. Landscaping does not cost a great deal and it is well worth the investment if you are selling a property. Curb appeal encourages buyers to get out of the car and into the house. Plant flowers in the garden. Put a wreath on the door. If a home has old orange shag carpet and green laminate countertops, this will be reflected in the pricing of the home. Put some money into improving the property. If a seller is really serious about closing a home sale, then he or she will want it to stand out above the rest.
Sellers have come to expect reimbursement for upgrades and improvements. In this market, things are different. Remember, the buyer can afford to be picky. Complete upgrades on the property in order to make it more enticing, and to help the home sell quicker. But — do not expect these upgrades to increase the price of a property. The more dated a home is the longer it will sit on this real estate market. A buyer can just as easily purchase a bank owned property that needs improvement, for a lower price. This is a price driven market. Make your property easier to sell by completing improvements before it goes on the market.

Where do Home Buyers and Sellers Meet?
There are excellent houses on the real estate market and some good buys right now. If both parties are willing to negotiate and be reasonable, they will inevitably reach the closing table. A vacant home with mortgage payments, taxes and utility expenses drains monthly incomes and financial reserves. Owners who have had a home on the market for some time need to seriously consider dropping the price $5,000-10,000 to complete a sale, rather then bleeding money every month.

What to Expect When Closing a Sale in Today’s Real Estate Market
Since down payments are now required, home buyers will usually ask for closing costs to be covered by the seller. If the seller is not in a position to cover all closing costs, I recommend they at least offer some sort of assistance. If the house is sold as is, and the home owner does not plan on doing any improvements – be prepared to negotiate price.

The current real estate market requires more work on the part of the seller, and buyers have become choosier in the properties they do purchase. Remember these suggestions when you put your home up for sale, and your home will be more inclined to sell within the first six months.

Since the economic downturn of 2008, the real estate market has been challenging for REALTORS and buyers and sellers. For those who have cash for a home purchase, or can obtain a mortgage, there has never been a better time to buy property. Real Estate is, and will remain for some time, a buyer’s market.
Sellers are still adjusting to this shift, and need to be realistic about what this means when they are preparing their home for the market.
I am going outline both the home buyer and home seller perspectives in this article so that both sides can gain a clearer view of the tenor of the present market.

Home Buyers: What are They Looking for in the Current Real Estate Market?
Since buyers are now a select group with ample choices, they can afford to be picky about the properties they purchase. Today, I find that many of my buyers want to walk into instant equity in the home they purchase. There are opportunities to buy short sales or foreclosed properties where the purchaser can walk into equity — providing the property is in good shape. Most of the time these types of home purchases will need updates and/or repairs.
Home buyers wishing to obtain ‘instant equity’ in a home purchase need to prepare themselves in two ways. First, a down payment of 5-20% will be required depending upon the type of loan they qualify for. Home buyers also need to make certain their credit scores are high enough to obtain lending approval.
Those buyers who prefer to purchase properties that are not bank owned will want to make that purchase based on a current appraised value. A savvy home buyer will look for a property in pristine condition. This type of buyer will most likely expect to move in and not have to perform any work on the property. These types of expectations are especially true for real estate purchases where individuals are downsizing from larger to smaller homes.
Even though some states may not require it, buyers will insist upon home inspections before purchase. I advise my home buyers not to get too caught up on the cosmetics of a property (i.e. rugs need to be replaced, holes in the dry wall, wood rot on the railing). These minor issues with a home are easily fixable. I encourage home buyers to focus on structural integrity of the home instead. This means the plumbing, electric, heating, air conditioning and roofs must be in good condition. These aspects of a home affect the integrity of the property, and require time consuming and costly repairs. Remember that some FHA and VA loans will not approve mortgages unless the home is structurally sound.
Nowadays, home buyers cannot count on owning a home and selling it a year or two later. A home purchaser should plan on owning the property for three years or longer, even if it has to be turned into a rental property. Today’s real estate purchaser has many more demands than a buyer did three or more years ago.

Home Sellers: It’s Time for a Reality Check
On properties for sale where I am the listing agent, I advise my sellers to return to the traditional strengths of a property. If a seller truly wants to sell, he or she must evaluate current pricing, location and condition.

Pricing a Property for Sale
There is no doubt about it: price is the defining criteria of real estate transactions today. Most cities and counties have raised the assessments over the last five years. Presently, these assessments are often equivalent to current appraised values. This is not good news for many property owners, who have lost equity in their home.
In many real estate markets, short sales and foreclosures are sold near the property listed, and appraisers have to use these comparable sales in approximating the value of a home. Sellers should NOT be surprised if an agent asks them to price their property below current assessed values. Fulfilling this pricing request will be necessary if there are multiple foreclosures or distressed properties in their neighborhood or homeowners have sold their properties at lower than market value out of necessity.
When I ask a home seller to lower his or her price, he or she is often inclined to take this personally. It is just like I told the seller his or her children are ugly and the grandchildren will be ugly, too. Home sellers: it is time for a reality check. Do not take the suggestion to lower a selling price personally! I know when a house is priced correctly because there is a peak in interest measured by an increase in inquiries and showings. If a home has been on the market for three months or more, and it has not been shown, it is probably overpriced.

Selling a Home in a Convenient or Popular Location
Do not over improve a home for the neighborhood. Home sellers must remember this cardinal rule of real estate: your home does not need to be the biggest and best, but it is certainly beneficial to be around the biggest and best. If a property is close to a metropolitan area, or in an upscale subdivision, more buyers will want to purchase it. Premiere locations should be reflected in price. If a house is 25 minutes outside of town and it takes a half hour to reach a store, the amount of time a home spends on the market will most likely be longer.

Sellers: Take a Critical Look at a Home’s Condition, and Make Improvements
The first impression a buyer receives of a home is a lasting one. Landscaping does not cost a great deal and it is well worth the investment if you are selling a property. Curb appeal encourages buyers to get out of the car and into the house. Plant flowers in the garden. Put a wreath on the door. If a home has old orange shag carpet and green laminate countertops, this will be reflected in the pricing of the home. Put some money into improving the property. If a seller is really serious about closing a home sale, then he or she will want it to stand out above the rest.
Sellers have come to expect reimbursement for upgrades and improvements. In this market, things are different. Remember, the buyer can afford to be picky. Complete upgrades on the property in order to make it more enticing, and to help the home sell quicker. But — do not expect these upgrades to increase the price of a property. The more dated a home is the longer it will sit on this real estate market. A buyer can just as easily purchase a bank owned property that needs improvement, for a lower price. This is a price driven market. Make your property easier to sell by completing improvements before it goes on the market.

Where do Home Buyers and Sellers Meet?
There are excellent houses on the real estate market and some good buys right now. If both parties are willing to negotiate and be reasonable, they will inevitably reach the closing table. A vacant home with mortgage payments, taxes and utility expenses drains monthly incomes and financial reserves. Owners who have had a home on the market for some time need to seriously consider dropping the price $5,000-10,000 to complete a sale, rather then bleeding money every month.

What to Expect When Closing a Sale in Today’s Real Estate Market
Since down payments are now required, home buyers will usually ask for closing costs to be covered by the seller. If the seller is not in a position to cover all closing costs, I recommend they at least offer some sort of assistance. If the house is sold as is, and the home owner does not plan on doing any improvements – be prepared to negotiate price.

The current real estate market requires more work on the part of the seller, and buyers have become choosier in the properties they do purchase. Remember these suggestions when you put your home up for sale, and your home will be more inclined to sell within the first six months.

When people are in the market for building a new home, the typical assumption of a larger production builder being the best may not always prove to be true. There are many new construction builders available, especially in the San Antonio market. One can find a custom builder, a “build on your lot” builder, or what most in the industry call a “track” builder.

Companies like KB, Newmark, Highland homes, David Weekly are just a few names that are known as “track” builders because the typically build in an entire subdivision or split the lots between two or more big builders. Of course, there are some of the other builders, like David Weekly, that will also build on your lot. Custom home builders may either build a home on a lot they purchased, or may even build on an individual’s lot. Custom home builders are perfect for building one’s dream home and often times recommend an architect that can sit with the homeowner and design the home desired. With a custom home, a homeowner has more freedom to choose what they want in their home; with many track builders one may be limited to specific available interior changes.

A small builder, or one that is just starting out, may not have the leverage these bigger names have, but working with them doesn’t have to mean that service or performance is compromised. Often times a smaller builder is easier to work with because one may have a better opportunity to deal directly with the builder /owner. In my opinion, this can be a benefit to the buyer when dealing with issues that require immediate resolution. Of course, the bigger builders have great communication, but they have a chain of command, like any other business, to follow. A small builder can have a more direct communication form because of their smaller size, which means smaller staff.

A smaller builder can offer the same benefits or features as some of the bigger well known names such as a 10 year structural warranty, great customer service, third party inspections, excellent floor plans, 1-2 years coverage for mechanical and electrical issues, etc. Remember, everyone starts somewhere and even the great ones can fall. Never assume a bigger name is better. There isn’t a single home I think of that has the individual owner building every aspect of the home, however, it is easy to find trades with many skills at anyone of these construction homes.

Liz Voss writes articles for San Antonio Real Estate. Other articles written by the author related to San Antonio Texas real estate and San Antonio Homes for Sale can be found on the net.

Selling a property is an exciting time. Following a few steps will ensure the best result.

Part 1 covers the correct legal documentation you need. Part 2 gives you tips to make sure your home looks its best when you open the doors to potential buyers.

Legals

In all Australian states and territories the process of selling and buying property is regulated by legislation. While the specific details differ, the common requirement is that vendors prepare a series of legal documents which require certain mandatory disclosures, representations and warranties. This is to let potential buyers do due diligence on the land and any improvements. Let’s call these documents the Vendor’s Statement.

It’s critical that the Vendor’s Statement is prepared in accordance with the relevant legal requirements and that it contains all the required information. If the Vendor’s Statement is not correctly prepared, a purchaser will have different rights depending on where the property is. In some instances if the Vendor’s Statement is defective a purchaser has the option of walking away from the sale altogether.

The other important document is the Contract of Sale (which usually incorporates the Vendor’s Statement into its terms and conditions). The Contract of Sale captures all of the agreements between the vendor and the purchaser.

These terms include:

• The identity of the vendor and the purchaser
• The address of the property
• The title details
• The price
• The agreed deposit
• The length of the settlement period
• Any fixtures or fittings being sold with the property
• Any special conditions such as whether the sale is subject to the purchaser obtaining finance approval by a certain date
• Any other special conditions that the parties agree to

Who holds the deposit?

The deposit is paid by the buyer to the seller once they have exchanged contracts at the time of sale. It effectively concludes the sale and then gives the buyer an interest in the property which can be protected by registering a caveat over the title.

If you are the buyer, you would write a cheque for the deposit amount and give it to your solicitor. It is usually held by the vendor’s solicitor in a trust account until the settlement date. The trust account purely a holding deposit for the purchase of the property for sale. Interest on funds placed in trust are paid to the statutory insurance scheme designed to protect people against any trust account defaults.

The seller may ask the buyer to release the deposit money earlier than the settlement date which requires authorisation in the form of a statutory deposit release statement. Get your solicitor to oversee these matters, and ensure all are legal and proper. Overall, your solicitor’s obligations are:

• To ensure that the sale contract is in your best interests and that the sale is subject to the satisfactory completion of all necessary conveyancing, inspections and finance
• To fully explain the implications of the Sale Contract
• To make thorough inquiries of local council, water and motor authorities and other government bodies to ensure there are no easements over the property
• To conduct title searches to ensure that the land titles are clean, for example, that they are owned by who they say they are owned by and will carry no debt upon transfer
• To ensure any unacceptable caveats are withdrawn by settlement
• To ensure all rates and taxes are paid when the property is transferred to you
• To prepare documentation such as the Transfer of Land, Notice of Sale and Requisitions

The Contract of Sale also may be subject to different state property legislation so it is essential to get the right legal advice on preparation of both the Vendor’s Statement and the Contract of Sale.

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Whatever the reason for selling your home, you deserve to get its reasonable maximum real estate value. You have, after all, maintained it and cared for it all these years. During a slow market though, the more the amenities your house has to offer, the better its sale value would be so it’s necessary to prepare it before putting it up in the market.

A major renovation is not a practical step to take in most cases. Instead, doing some minor repairs can turn in better offers. Where do you start? Think like a buyer. The first thing that a buyer would notice is the outside appearance of your house. So fix the roof, repaint the walls, tend the gardens and just keep your lawn clean.

Contact a home inspector to identify which repairs are of immediate concern. Having a home inspection can give you an objective listing of things to repair and make your home ready for buyer scrutiny.

Usually, ceilings are given extra attention by the buyers. A ceiling can give signs of water leak and the kind of maintenance that the seller has done. If there are ceiling cracks, smoke, water and grease stain, fix it fast by finding the source of the problem. Water stain is the result of problems like leaky roof, heating or air conditioning system that malfunctioned or even burst pipes. Although a fresh coat of paint can instantly give it a new look, it pays to fix the real problem and not just cover it up. Real estate buyers often have the home inspected before they seal the deal and any undisclosed home problems will be revealed and may even cause the seller to lose the deal.

The walls can also give the buyer hints of damage and the personal taste of the seller. Your wallpaper which you so lovingly picked may not appeal to your buyer so since you’re cleaning or repainting the walls anyway, might as well remove the wallpaper too and replace it with neutral paint.

Homeowners should remember that kitchen improvement is always a good investment since it will pay off later on. Appliances, cabinets, storage, tiles and countertops must be well maintained too. Unless the house has special historical significance, it’s better to rid it off of dated furnishings and fixtures.
Windows, pipes, faucets, tubs, sinks, pools and walls that have leaks or cracks must be repaired or replaced immediately.

The bathroom is also an important part of the house and gives it a good resale value when it is well maintained. A simple change of shower curtains can do wonders for your bathroom. Make sure too that it smells fresh and is clean all the time. Replace chipped tiles and keep the mirror pristine. If you have a tub, create a romantic mood by sprinkling rose petals to complement the bubble bath.

Overall, show the real estate buyer the warmth and joy of owning your home. If there are major repairs to be done, assess the expense carefully and weigh the pros and cons. In most cases, it is better to disclose it to future owners so they can have a free hand in renovating it to suit their taste.

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Picture the scene: a home owner decides to move on and so he quite reasonably asks a local Estate Agent to come and advise him. Let us see how he gets on…

I am confident of getting close to 270,000 (pounds sterling) for your home. I have many potential buyers who would love to come and view this house.

Sounds very promising. He decides to use this Agent.

The Agent organises the Home Information Pack and helpfully rings you to say he will fill out the PIQ (Property Information Questionnaire) with a little help from you. Meanwhile you quickly find another home to buy and begin to organise matters in that direction; you find an empty, 2 year old home that has been repossessed and seems to be on at a heavily discounted value. Great.

Your own Agents do nothing exceptional over the next few weeks and only two people have viewed and no response has come back via the Agents. You decide to complain: you have not seen any Adverts and would have thought the Agent could have got more than two people to view by now.

In respect of your own purchase you decide that because the home is only two years old you do not need a survey of any description.

On your own home, over the next few weeks, three new viewings are made but the only offer made is at 220,000 (pounds sterling). Not exactly breath-taking stuff and you could not accept such a low offer.

After three months an offer comes in at £238,000 and the Agents say it should be accepted as the market is not doing much over the summer holidays. You reluctantly decide to accept the offer.

It then comes to light that a chain has developed and everybody is awaiting the sale of the lowest link – a small flat in a nearby Block that has only just gone on the market.

After the fifth month since you placed your home on the market your buyer has only just instructed his Loan Company to complete the mortgage appraisal inspection. You cannot take more time off work and so allow the Valuer to get a key from the Agents and let himself in to do his inspection.

After nearly seven months since you placed your home on the market your own Estate Agent and then your Solicitor calls with multiple bad news — (1) The bottom of the chain has fallen apart because the flat is not mortgageable because it does not meet the minimum property criteria laid down by the buyers Mortgage Company (something the Estate Agent should have known), (2) your buyers Loan Valuer says your roof frame is weak and needs structural supports to be added and that the buyer wants 5,000 (pounds sterling) knocked off the price because of this problem (could you have headed this problem off by commissioning a Home Condition Survey in the HIP), (3) the one you are buying has a small side extension that has been constructed on land not owned by the seller (if you had read the sellers HIP surely you could have checked out the Conveyance plan and compared it what you saw on-site?).

Stop. Is this chain proceeding? Who and how are re-negotiations to be conducted? Where do you go from here?

Stupid scenario? Not realistic? That would never happen! No – this is real. It can and does happen every day. So what went wrong? Who was to blame?

The answer is clear – everybody but you should take more blame than the others!

YOU should have asked several Agents to view and advise you and the sale price should have been realistic enough to generate immediate interest and potential buyers.

In respect of the roof problem on your own home this would have come to light if you had considered a Home Condition Survey prior to the unit being placed on the market so you would then have had the option of completing repairs or discounting the price to reflect the then known problem (Roofer estimates could have been obtained to show potential buyers and their Advisers).

YOU should have had a private survey completed on your purchase OR at least viewed the HIP and compared the conveyance plan with what you saw on-site.

YOU should have accompanied your buyers Mortgage Valuer so you could have explained the roof problem and ensured he was briefed properly so his

Stuart K. Parrett FRICS, MAE, dipHI is a Chartered Surveyor and owner of PROinspect Consultancy based in southern England. He is a residential property specialist and has over 35 years local experience. He is also a Home Inspector, Valuer, Thermal Imaging Consultant and Expert Witness.

To contact Stuart or to obtain more free information plus product recommendation and fee quotations visit him at http://www.proinspect.co.uk

These days many of us are feeling the crunch of the economy and we’re thinking of selling our homes to keep ahead. Learning how to sell your house now with the market in the condition it’s in and on your own could be very difficult. Like most people, you are probably thinking, “If I could only sell my home without paying the commission to a real estate agent, then I could come out ahead”. If you need to sell your home fast then keep on reading folks.

Most homeowners believe selling a house can be quick and easy but when they put out that “For sale by owner” sign out on the lawn they will soon see why things get tough fast. Although, nearly 25% of all houses sold in 2009 were sold by the owners, most of these sales did not occur quickly. When interviewed after the sale, most homeowners admitted if they had to do it all over again, they would not have attempted selling on their own.

Many homeowners had to deal with unqualified buyers and the amount of paperwork involved in learning how selling a home was just not worth the time and effort to go through in order to educate themselves. For others, the amount of time it took to sell their homes did not help them financially because they had to keep paying the mortgage as the months flew by. They also complained about the money spent to have inspections done, advertising the sale, and the fees they had to pay the lawyers and title inspectors.

The good news is, there are companies out there that will buy your house fast; often the very same day no matter what the condition of your home. If you really need to sell your home quickly and don’t want to waste your time to learning the ins and outs of selling, then connecting with a reputable agency is what I advise you to do.

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