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Selling

Why You Should Prepare Your Home Before Putting It On The Market

• Higher Sales Price
• Quicker Sale
• Happier Buyers
• Smoother Transaction

While most of our efforts will be focused on marketing your home and getting them to your front door, the moment of truth happens when the prospective buyer enters your home. Here’s how you can make that moment memorable.

Invest a few hours and dollars now and get a greater return in the near future.

Make A Great First Impression

• Make the best curb appeal possible
• Plant blooming flowers and mulch shrubs
• Fertilize, cut, trim, and edge the lawn
• Rake the leaves and remove snow from walkways
• Repair or replace any damaged concrete
• Freshly paint exterior and get the roof checked
• Freshly paint the front door
• Install a seasonal wreath on the front door
• Install an attractive front storm door
• Remove any clutter from yard and porch
• Power wash and treat deck
• Make all needed repairs (leaky faucets, sticky doors, etc.)
• Check the caulk and grout around the bathtub and shower. If old or discolored, consider re-caulking.

Buyers believe that the condition of your home today is a reflection of how well you have maintained your home over the years.

Staging… Creating An Inviting Interior

• Make your home as neutral as possible. A fresh coat of paint is worth thousands of dollars. Try using off white paint.
• Declutter the home as much as possible. Clean basements, closets, kitchen countertops. The fewer things on the countertop the better. Remove magnets from the refrigerator.
• Get rid of excess furniture. Consider renting a mini storage space. Buyers are always looking for spacious rooms.
• Display your best towels
• Install bright bulb light fixtures.
• Wash windows and remove screens.
• Clean carpets and floors.

Buyers buy what they can see!

HOW TO SHOW YOUR HOME

• The owner should not be home.
• Turn on all lights both inside and outside
• Open drapes or blinds
• Give home a pleasant fragrance
• Remove pets from home

Buying

Steps to Home Ownership

1. Initial Interview

• Establish our relationship (Buyer’s Agent or Seller’s Agent)
• Determine the location, price range, size and style of house you seek
• Determine the best type of financing that will work for you
• Search for property that meets Buyer’s needs
• Provide an estimate of closing costs and monthly payments
• Discuss credit history to see if any errors or problems exist

2. Selecting the Home of Your Choice

• We will go out to look at properties together. (Please do not go into any property without us)
• Any property that is on the market, we can show you regardless of the listing agency, including “New Homes” and “For Sale by Owners’. If you see a property that interests you, get the address, jot down any information on the sign and call us. We will get all the other information you need.
• When looking at a property, feel free to open the closets, cabinets, and appliances doors.
• Once you have decided on the property you want to buy, we will sit down and make an offer.

3. We Will Assist You As You Make an Offer on the Property

• To be submitted with the contract we will need:
  • A Complete Financial Sheet (Download Financial Sheet)
  • Good Faith Deposit (TBD)
  • Proposed Settlement Date
  • Pre-approval letter from Lender
• Contract will be contingent upon:
  • Buyer making Mortgage Application within 5 to 7 days
  • Buyer obtaining Loan Approval within 30 to 60 days
  • A satisfactory Home Inspection in 10 days
• Contract (offer) is then presented to the Seller. It is not until the Seller signs the contract (offer) that you have a ratified contract.

4. Making Mortgage Application with the Lender

• See separate list of items to bring to mortgage application*
• It takes the lender approximately 30 days to approve your loans.

5. Home Inspection

• The inspector checks for mechanical and structural defects including roofing, plumbing, electrical systems, heating and cooling systems, basement leakage, defective windows, concrete, appliances, etc. Items of a routine maintenance and/or cosmetic nature are not part of a home inspection.
• Buyer should be present during the inspection.
• The inspection takes about 2 hours
• Inspections cost between $200 and $400. Payment is due at time of inspection.
• The Inspector will give the buyer a written report.
• If the Inspector finds any defects, we will write an addendum asking the Seller to correct those items before settlement.

6. Appraisal Report

• The lender will send an appraiser out to make sure the property is worth the contract price and check to see if any repairs are needed to satisfy the lender. If the property does not appraise for the contract price, we will go back to the Seller and ask the Seller to reduce the sales price to the appraised value.
• The appraisal will be performed about 10 to 15 days after you make the mortgage application.

7. Select a Title Company

The Title Company will:

• Check to make sure that there are no liens, violations, and/or judgments against the property.
• Get the property surveyed to show the approximate boundaries of your lot.
• Conduct the settlement to make sure the title is transferred from the Seller to the Buyer, and all taxes and mortgages are paid.
• Issue Title Insurance to protect against any errors, acts of fraud, or future claims. Buyers' coverage is optional, but highly recommended.

8. Select Homeowner Insurance Company

• Have the Insurance Company issue a policy in the amount of the sales price. This policy is effective on the date of the settlement and is paid for a year in advance.
• Buyer must pay for this Insurance policy and provide lender with the policy and paid receipt, about 5 days before settlement.

9. Pest Inspection

• A termite company will go out to inspect the property for termites or other wood-destroying insects pest infestation and/or damage. If there is any damage or infestation the Seller should correct it before settlement.
• A copy of the termite report must be given to the lender before settlement can take place.

10. Loan Approval

• Your application is complete when the loan officer receives employment verification, the appraisal, verification from your bank that you have enough monies in the bank to cover the closing costs and down payment, rental verification, credit report and any other information they ask for. This information is then submitted to an underwriter for loan approval. Once the loan is submitted, it takes the underwriter about 3 days to make a decision.

11. Final Walk-Through

• Check to make sure the property is in the same condition that it was when you first saw it.
• Check the plumbing, heating, air conditioning, appliances, and any repairs that the Seller agreed to make.

12. Settlement

• Settlement is when property transfers into Buyers name and they get the keys to the property.
• Buyer needs to bring a bank check or certified check to cover the balance of money needed for closing cost and/or down payment. Make the check payable to yourself.
• Who normally attends settlement? The Buyer, Seller, Real Estate Agents and Title Company representative.
• Settlements are normally held at our office: Monday through Friday. Saturday and evening appointments may be available.
• Settlements take one to two hours to complete.

WE WILL BE WITH YOU EVERY STEP OF THE WAY!

* THINGS TO BRING TO MORTGAGE APPLICATION

1. A check to cover the cost of the appraisal & credit report. Approximately $360.00.
2. (Original) W2’s from all jobs for the last 2 years.
3. (Original) Pay stubs from all jobs to cover the last 30 day period.
4. (Original) Bank statements from all checking & savings accounts, to cover the last 3 months, including 401K and thrift plan.
5. Employer’s address for the last two years.
6. A list of all open loan account numbers, balance and monthly payment or most recent statement, if available.
   
7. Real estate owned-loan number, addresses, balance and monthly payment.
8. If self-employed, last two years federal tax returns with all schedules and YTD P&L.
9. Social security numbers
10. Copy of driver's license or other photo I.D.
11. If a veteran, the VA certificate of eligibility or DD214.
12. For first time homebuyer loans, bring three years COMPLETE 1040 (all schedules) or Non-Filing Affidavit. If borrower does not have all 3 years returns, they must call the IRS at 1-800-829-1040 & request the IRS 1722 letter for the missing year’s returns.