Understanding the ABC’s of a home purchase is an essential if you are a first time home buyer.

A) You decide that buying a home might be a possibility for you.
B) You learn about home buying through a home buyer education course.
C) You decide that buying a home is right for you.
D) You think about what kind of home best fits your needs.
E) You analyze your financial situation. You refine your budget, examine your credit standing, and decide what you can afford to spend for a house. This may be done with the assistance of a homebuyer counseling program.
F) You shop for a Mortgage. You ask for a pre-approval. Your broker can help you here.
G) Interview Real Estate Brokers, choose one that’s compatible with you. Start shopping for a home.
H) You select a home, make an offer, and agree on a final price.
I) You sign a Real Estate Sales Agreement and furnish a check for an “earnest money” deposit.
J) You apply for a mortgage.
K) You have the home inspected for condition and needed repairs. The home is appraised to determine loan value. You obtain insurance. Your mortgage company tells you the dollar amount of the funds you will need for closing. You obtain a certified check for the closing.
L) The real estate transaction is processed and closed.

Review:
Various closing tasks are completed by a closing agent, the seller, and the buyer:

The Closing Agent

A) Prepares all documents.
B) Coordinates the signing of documents.
C) Coordinates the transfer of money
D) Coordinates the transfer of ownership.

The Seller

A) Provides clear title, the deed, and certificates as required.
B) Certificates include energy efficiency rating, or anything
specified by law or your purchase agreement.

You the Buyer

A) Provide verification of Pest / Dry Rot inspection.
B) Provide verification of insurance and mortgage.
C) You pay down payment and closing costs.

Congratulations! You are now a “HOMEOWNER” ! Move your possessions into your new home. Take care of your (investment) new home. Make your monthly payments on time, every month.

Summary:

Before purchasing a home, you need to decide whether you really want to be a homeowner. You need to think about the costs, responsibilities, and rewards of homeownership. You need to think about the length of time you will live in the home and about the kind of home you want.

Buying a home involves many steps. It takes time and patience to complete. But the more you know about the process and the better you plan for each step, the more likely you are to have a good buying experience.

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How long does it take to sell a home?

There is no easy answer – some homes sell in a few days, others may take several months. Recognizing the key factors influencing a sale gives you significant control over market time.

The proper balance of these factors will expedite your sale:

LOCATION:
Location is the single greatest factor affecting value.

Neighborhood desirability is fundamental to a property’s fair market value.

COMPETITION:
Buyers compare your property against competing properties.

Buyers interpret value based on available properties.

TIMING:
The real estate market may reflect a seller’s market or buyer’s market.

Market conditions cannot be manipulated; an individually tailored market plan must be developed accordingly.

CONDITION:
Property condition affects price and speed of sale.

Optimizing physical appearances and advance preparation for marketing maximizes value.

TERMS:
The more flexible the financing, the broader the market, the quicker the sale and the higher the price.

Terms structured to meet your objectives are important to successful marketing.

PRICE:
If the property is not properly priced, a sale may be delayed or even prevented.

A Comparative Market Analysis will assist you in determining the best possible price.

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A few great tips on creating an atmosphere that will charm buyers and make them want to buy your home. Remember that you’ll only get one first impression. And First impressions are what counts! Follow these simple tips and create the competitive edge that may help you sell your home more quickly.

Drive-up Appeal
Trim trees and shrubs, clean out flower beds and invest in a few flats of seasonal flowers, paint the front door, make sure the doorbell is working properly, wash the mailbox, keep the porch swept and get an attractive mat for people to wipe their feet.

The Basics
Start by airing out the home. Most people are turned off by even the smallest odor. Odors must be eliminated; especially those caused by dogs and cats; soiled diapers and / or cigarettes.

Wash all the windows in the home, inside and out.

If it has been over a year since the carpets have been cleaned, now is the time to have them cleaned. Bare floors should also be waxed or polished.

Put bright light bulbs in every socket made for a bulb. Buyers like bright & cheery.

Clean out closets, cabinets and drawers. Closets should look like they have enough room to hold additional items.

Get everything off the floor and don’t have the shelves piled to the ceiling.

Make sure rooms are not overcrowded with furniture. Select pieces that look best, and store the rest.

Keep the kitchen sparking clean. Make sure all appliances are clean at all times. Straighten cupboards that appear cluttered and keep floors gleaming.

Bathtubs, showers and sinks should be freshly caulked. The grout should be clean and good condition. There should be no leaks in the faucet or traps.