Comments Off on Best Practices for use of Video Surveillance Cameras While Selling Your Home
by liz
So this day in age in home and front porch door bell cameras are super popular. I, myself have one. It’s great for many things. Tracking when packages are delivered, looking to see who is at the front door before deciding whether or not you will answer it, preventing porch theft, monitoring your baby while they are in the crib, etc.
Now lets talk about whether or not it is appropriate to have these types of devices recording while your home is for sale. In the Grand Rapids, Michigan area the market where I work, they address audio surveillance (not necessarily video) during showings, open houses and inspections.
Audio Surveillance. Seller understands that the use of an audio surveillance device during showings, open houses, or inspections on the property may result in a violation of state and/or federal criminal wiretapping statuses. Broker recommends that Seller disable any audio recording devices during showings, open houses and inspections.
It does not say anything about limiting video. Furthermore it only recommends that you disable the audioduring showings, open houses and inspections, mainly because you could be breaking wiretapping laws that the state and/or federal government have in place.
This is important to note for potential buyers. When touring homes do not assume that the sellers have turned off the video and/or the audio on the cameras in and around their home. Most sellers are likely to follow the rules however some may be willing to risk it and keep them on.
I tell my buyers to be careful what they say when looking at homes. You never know when the seller is listening in and it can make the difference between the seller being inclined to be acceptable or negotiable to your offer (if they hear something negative they may be offended). In addition it could possibly make your negotiating position weaker if you make an offer lower than the ask price, yet the sellers heard on their audio recording that you were willing to do anything you could to buy the home.
Best practice recommendations:
If you are a seller, turn off the audio when potential buyers are in the home.
If you are a buyer, assume that the sellers have the video and audio on while you are in the home. Do not say anything you do not want them to hear.
Comments Off on Upgrade Your Life by Downsizing Your Home
by liz
You’re ready for a new chapter in your life and not sure that your current home fits in this chapter or not. Some of the most popular reasons for downsizing include.
You are not using most of your living space.
You’d like a different style of home or floorplan because your lifestyle has changed.
Your yard and landscaping are getting to be a burden to maintain.
You want to simplify your life so that you can focus on more important things.
Your wants and needs have changed since you first moved in.
Now you’ve committed to the change. Let’s talk about the journey and steps to take to get to your new and improved chapter.
The first step is deciding what type of home are you looking for. Do you want that cabin on the lake, a spacious condo with an open concept floor plan, a new construction ranch home, a home in a warmer state? There are so many options!!
The second step is to determine if your goal is possible at this time. Find out what your current home is worth on the market. Determine what the cost will be to purchase your new home. Do the numbers work? Are there properties on the market that fit your wants/needs and are in your budget? Is there a market for your home right now?
Step three is to come up with a game plan and put it into action. The market (and a great Realtor) will help you determine which strategy is best.
List your current home then look for a new one once your home is under contract.
Buy your new home (cash, bridge loan, new mortgage), then list and sell your current home.
Look for a new home. Once you find the right home, write an offer contingent upon you selling your home. If your offer is accepted, list and sell your home.
We will decide together on how to handle showings. We can set parameters as to the hours and days that showings are allowed, and how to notify you in advance.
We will use a system called Showingtime which will allow you to respond to showing requests via email, text or phone.
Usually we use an electronic lockbox that allows buyers’ agents to access your house key. These boxes also notify me any time they are opened, so no one is accessing your home without my knowledge.
If you have pets in the home that need to be tended to during showings, we will work out the best way to handle them. Furthermore, I will try to get feedback from each showing and pass that information back to you.
I will be there for you every step of the way and will be available for all questions or concerns.
Comments Off on 4 Strategies to Buy Your Dream Home and Sell Your Current One
by liz
When you first purchased your home it met your needs and budget, but life (as it always does) has changed. Maybe you have a different job that is located on another side of town, or your family situation has grown from 2 people to 4, or you now have a much higher income and would love a nicer home to reflect your current taste. The point is that the home served its purpose but it is now time to move on.
What you need is a plan to get from point A (your current home) to point B (the new home that meets your current wants/needs). Hiring an awesome Realtor to guide you down this path is highly recommended since it can be complicated and overwhelming!! Below are the most common strategies to accomplish your moving goal.
1.List your current home then look for a new one once your home is under contract and write an offer contingent upon you closing on your home.
One of the benefits of this strategy are that you know how much you will be getting in proceeds (since you’ve already accepted an offer at a certain purchase price). This is extremely helpful when budgeting and planning for the next home. The other positive is that when you do find the home that meets your needs and get an offer accepted, you will not have the stress of putting your home on the market. That step will be behind you. The risks that come from this strategy are that you may not find the right home in the timeframe that you have negotiated before closing. This may cause a double move and the need for temporary housing. Another con is that it is harder to get an offer accepted that has a contingency in it, even if it’s just to close on your home. Sellers like clean offers and the less risk the better. Another factor to consider is the chance something falls through on the sale of your current home. You risk losing out on the new home and having to start all over from square one.
2. Sell your current home then find a new home after the current one closes to eliminate the need for a sale contingency.
This one can sound super scary. Nobody wants to risk being homeless. There are many ways to make this a smooth transition with extended possession after closing or finding a temporary place to land (mom & dads, short term rental, temporary RV living…). The major benefit is that this strategy will give you the best buying power in the market. When you have your proceeds from your sale and do not have the risk of having to sell your home sellers will favor your offer over those that submit contingent offers.
3. Buy your new home (cash, bridge loan, new mortgage), then list and sell your current home.
When you decide to buy the new home before selling, the stress about finding the “right one” is minimized since that step is first and you do not have the pressure of a short timeframe. This strategy will also give you the opportunity to declutter the current house by moving items to new house which can help with the staging process, and you will not have to worry about finding temporary housing or moving twice. Of course there are risks involved. These include: being unsure of the exact proceeds from the sale of your home (the market will determine the ultimate sale price despite what you see in the sale data), you won’t have the cash from home sale for down payment, and perhaps this biggest concern is that you may have carrying costs and run the risk of having 2 mortgages.
4. Look for a new home. Once you find the right home, write an offer contingent upon you selling your home. If your offer is accepted, list and sell your home.
This strategy is the most challenging to execute smoothly, but it absolutely can be done! The reason that buyers choose to use this strategy is that they are not comfortable with the risk of selling their home without having another home lined up, yet they cannot afford and/or are not comfortable with buying a home before selling their current home.
The stars all have to align to pull this off. First you have to find a home that you like and write an offer attractive enough that the sellers are willing to accept your offer with this contingency. After that you will have to get your home on the market in a very short period of time and position it in the market for a quick offer, and finally we work hard to get everything done and close on the sales on both homes.
Which strategy is best for you?
The current market conditions and your personal situation will help you determine this. Hopefully you will be able to find a way to balance both at the same time (or a short window). If this is not possible, you need to decide which risk you are more comfortable with – owning zero houses (selling your home first) or owning two houses (purchasing next home first). Again, I cannot stress enough… finding an experienced and professional Realtor to guide you through this process is SO important!!
Comments Off on How to Manage Your Emotions When Selling Your Home
by liz
Hire a Realtor
You’ll gain an advocate, expert, and cheerleader whose single goal is looking out for your best interest as you complete one of the largest transactions of your life. Plus they have the skills to help guide you through the emotional roller coaster that the home selling process brings.
Trust the data
It’s only natural to feel like your home is better than the one that sold across the street. Your Realtor will help you sort through the facts and the feelings. While you are reviewing comparable sales in the market analysis, look at them through the eyes of a buyer. If you were to buy your home, how much would you pay? The data will give you the answer.
Depersonalize your home
Taking down your family pictures, putting away your family heirlooms and packing away your kids art are all examples of how you can depersonalize. The staging step of the process can help you detach your personal attachment to your home. When it looks like a show place instead of your cozy abode it will shift your mindset during the sale process.
Focus on your Why
There is a reason you are choosing to sell. Whether it’s downsizing to simplify your life, buying a larger home for your growing needs or relocating to another state. Keeping your eye on the prize will help minimize feelings of connection to your home during the sale process.
When it comes time to sell, one of the hardest things to determine is the listing price. So how do you come up with a number that isn’t so low it leaves money on the table, but also not so high that your home never sells? That’s where a comparative market analysis (CMA) comes into play.
Real estate agents are experts in creating CMA’s based on your home’s value and recently sold, similar properties in the surrounding area. These reports help set a fair listing price for sellers and generate competitive offers from buyers.
Here’s a rundown of the basic steps:
1. Evaluate the neighborhood.
2. Gather details about the subject property.
3. Select comps.
4. Adjust for differences.
5. Determine the sold price per square foot after adjustments.
Ready to figure out the “best” price for your home? I’d love to create a comparative market analysis for you!
Comments Off on Preparing for Closing Day as a Seller
by liz
Closing day is the best day! It’s what we’ve been working towards and the deal is officially done. This is what you can expect from me as we prepare to close.
I will make sure all terms are satisfied and that the buyer’s lender has issued a clear to close or for cash transactions verify that the buyer will have funds available for the specified close date.
Closings are scheduled during the day from 9-4 on the hour. You may have to arrange from time off from work to be available for closing. I will do my best to make sure the time and location is convenient for you and your needs.
The transfer of utilities is coordinated with the time of possession. If possession is the date of close you should plan to make phone calls to the utility companies a few days before close. If the possession is extended after closing you will want to contact the utility companies a few days before you hand the buyer(s) the keys. I will provide you with the list of phone numbers in advance.
The day of closing you will need to bring your photo identification, social security number, keys (if possession is at close), a cashiers or certified check made out to the title company (if you are required to bring funds to close the transaction), and a check made out to the buyer(s) if you have extended possession and rent is a negotiated part of the contract.
At the closing you will receive copies of all of the documents and your proceeds check (if applicable). Please keep in mind the title company will issue this check specifically to the name on the title.
If you need the name of moving companies or a source for moving boxes I will provide you with a list of excellent resources.
After closing I will follow up with you to make sure that all your needs are met and answer any questions that you may have.
Comments Off on The Home Selling Process- What to Expect From Start to Finish
by liz
The home selling process can be overwhelming and stressful. I’ve broken it down to 4 simple steps to help you get an overview of what the process looks like.
Comments Off on 4 Factors That Affect The Saleability of Your Home in West Michigan
by liz
Helping my clients sell their homes is my favorite!! There are 4 major factors that we need to discuss that will determine the success of the sale.
Pricing
Pricing your home according to the current market is a key factor in a successful sale.
Which factors are key to determining the value of a property? Location, design, amenities, competing properties and economic conditions.
Which factors have no bearing on the property value? Price that the seller paid for their home at the time of purchase, amount spent on improvements, assessed/taxable value assigned by the municipality.
The only constant in the real estate market is change. It is always fluctuating and shifting. As your trusted real estate advisor, I will help you determine the pros and cons of listing your home in the current market conditions. It really depends on your ultimate goal whether or not the time is right for you to sell your home.
Two of the most frequently talked about real estate market descriptions are, Buyer’s Market and Seller’s Market. We will discuss which of these markets the current conditions favor.
Property Condition
Your home does not have to be a 10 out of 10 to sell, but the condition is an important factor on how much your home will sell for and how quickly. Major repairs should be taken care of prior to going on the market (if it is not an option it needs to be reflected in the price).
Staging is a popular term out there in real estate world. This can mean as little as thinning out all of the clutter to completely altering the paint, flooring, decor and landscaping to make the home more attractive to potential home buyers. This is absolutely something I will guide you through. I absolutely love this part of the home sale process!!
Market Exposure
Your home can be in the best location, be priced properly and show like a brand new build but if it doesn’t get the right exposure, it won’t sell.
Marketing your property is my jam! From writing the best possible listing description, to creating social media ads, to making sure that the professional listing photos show your home in it’s best light, highlighting your home to agents that are working with potential homebuyers in the area, open houses, the list goes on. I will do everything I can to ensure that your property has the maximum exposure possible.
Get these 4 factors right and you’ll be receiving a great offer in no time! Let me help you in your journey! Send me a message and we can get started.
A title search is a crucial but behind-the-scenes part of the home buying process. I’ve asked a local title insurance expert what buyers should know about their services — and the valuable role they play in keeping buyers safe.
Q: First off, what is title insurance?
A: Title insurance protects you and your mortgage lender from loss — and headaches — if your seller doesn’t own the property outright.
Q: How does title insurance protect you?
A: Title insurance protects you from financial loss in the form of:
Deeds by minors or by persons of unsound mind
Deeds by persons supposedly single, but in fact, married
Fraud
Forged deeds or wills
Liens
Misinterpretations of wills
Unpaid taxes or inheritance
Q: What is a title company?
A: The title company confirms that the title to the real estate property is legitimately given to the purchaser of the property. Typically, the title company conducts the closing on the home and verifies that the seller has the rights to sell the property.
Q: What does a title company do?
A: Since a clean title is required for every real estate transaction, title companies complete a search on every title to check for claims or liens before a new title can be issued. Without title insurance, buyers could be liable for monies owed on the home long after closing.
Q: How much should title insurance cost?
A: The cost of title insurance ranges between $500 and $3,500, depending on where you live, the provider you choose, and the purchase price of your home.
In most cases, the title company works quietly behind the scenes, making sure everything is set for a smooth transaction. No news is definitely good news. Have questions about the buying process? Don’t hesitate to reach out – I’d love to help out.
