Robyn Seymour - Fine Tips for Home Buyers and Sellers

Buyers

If you are looking for a home:

To overview the properties, communities, and schools, you can make use of the Internet; Visit potential neighborhoods at different times of day; Research price trends in communities and neighborhoods and 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 and
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 and 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 and 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 and 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 and 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 and 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 and during the showings buyers are interested and relaxed.

Fine Tips for Home Buyers and Sellers

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