How should I prepare my house before selling it?
First impressions matter in business, but especially in real estate. Anyone walking through a house or touring it virtually will be looking for ways to pass or negotiate down on the price. Make sure that the HVAC, plumbing, and electrical system all work properly, with updated maintenance. Each room should look clean and decluttered with no overt damage insight. Cleanliness counts for SO much!
Should I order a home inspection?
Getting a home inspected prior to listing isn’t a bad idea, especially to get the best price for your home. Finding out if there are big ticket items that need attention prior to when a buyer is negotiating, will allow more time to gather bids, make repairs and ultimately save money during the inspection period. Homebuyers will often hire their own inspector during the contract to re-inspect, yet having one done already will avoid any shocking discoveries.
What is the first step in buying a home?
The absolute first step is to get approved for a mortgage. Without being approved for a mortgage it will be quite difficult, if not impossible, to get an offer accepted and purchase a new home. Get referred to a reputable mortgage lender to go over options for which loan program suits your situation the best and what budget you are comfortable with. Then, get to shopping!
How does earnest money work?
Earnest money is similar to a deposit when renting a place. It is made in good faith to demonstrate to the seller that your offer is legitimate. A deposit in the form of a check or wire to the title company will be required once you have an accepted BuySell agreement. The amount is usually about 1% of the selling price and officially puts the property ‘under contract’. Then you proceed to fulfill contingencies outlined within the contract (Title Search, Home Inspection, Appraisal, Financing etc)
What is a mortgage and how does it work?
A mortgage is a type of loan to finance a property. The majority of people are not wealthy enough to purchase a house for cash. Thus, a mortgage serves as a secure loan that comes with an interest rate and gets paid off over 15 or 30 years. If need be, your client can refinance their mortgage and payments in the future.
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