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The Functions of Escrow

Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the protection of buyer, seller and lender, the escrow process was developed. As a buyer or seller you want to be certain all conditions of sale have been met before property and money exchange hands. The technical definition of an escrow is a transaction where one party engaged in the sale, transfer or lease of real or personal property, with another person delivers a written instrument, money or other items of value to a neutral third person, called an escrow agent or escrow holder. This third person holds the money or items for disbursement upon the happening of a specified event or the performance of a specified condition. Simply stated, the escrow holder impartially carries out the written instructions g...

Prior to Listing Conduct a Home Inspection

Prior to listing your home you should have an independent inspector give the house a once over. That way, problems can be spotted — and corrected — before a would-be buyer ever gets wind of them. Before you have your home inspected you should fix items you know are broken — the little things every owner learns to live with — before they become bargaining points. Your agent should provide you with a pre-inspection checklist so all parties can be as sure as possible that the house is inspection-ready. There are a lot of things you (the seller) can do, but if you are not skilled at certain repairs, even the simplest ones, you should call a professional. Not only can inspectors spot amateurish, sub-par work, they will wonder about the quality of repairs that are less visible. When repairs are made, either by you (the seller) or a professional contractor, it’s a good idea to have paid receipts and warranties on hand for the inspector and buyer. Finally, on the day of the inspection, seller...

Make an Offer That Sellers Can't Refuse

With shrinking inventories, many buyers are finding only competitive offers will win them the house they want.   Listed below are several ways that home buyers can make more competitive “irresistible” offers. Be pre-approved: Develop a strategy with your loan consultant.  They will help you review your credit reports to make sure they are accurate.  They can also advise you on short-term steps to improve your credit score.  Then you will be ready to take the next step and get preapproval.   The preapproval letter will show sellers you are a serious buyer. Don’t lowball: You may only get one chance to get the home you want in a competitive market. You may not get a second try to sweeten the deal later, so a lowball offer the first time around could cause you to lose out. Use sales prices of comparable properties in the neighborhood to submit your best offer the first time around.   Your realtor can provide a Comparative Market Analysis for ...

Staging Homes

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Vacant homes  aren't  memorable and won’t stand out to buyers particularly in online listings where the majority of buyers begin their home search. Regardless of price point, staging vacant homes is important to initially capture buyer interest and take them from the online listing to the front door. Once there, a well-staged home will help buyers emotionally connect to the property, ultimately taking their interest to the next level with an offer.  Listed below are two examples of before and after. Photo credit: PJ & Company Staging and Interior Decorating Keep these insights in mind. Your property will sell faster. A vacant property can take up to 78 percent more time to sell than comparable furnished homes, according to the Real Estate Staging Association. Buyers will see it as their home. Only a few buyers can visualize a vacant room decorated and furnished. The majority of buyers, on the other hand, cannot envision how they will live in the h...

Tip of the Week | Buyer Strategy Real Estate

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This is the first video in my series, Tip of the Week, where I give you real estate tips. 

Full Hearted Focus

You might have heard me say that it’s far more productive to focus on one thing 100% of your time with 100% of your energy rather than spending 10% of your energy and 10% of your time focusing on ten different things. That’s why I always ask the following questions. What is the one thing that I can get done in the next 30 days that will have the biggest bottom line improvement in my business over the next 12 months? The question I ask is: What is the one thing I can get done? Try that question on. What one thing can you get done in the next 30 days that will have the biggest bottom line improvement in your business over the next 12 months? Take some time to really think about the answer because this is where you’ll pour all of your energy and time into. If I was sitting next to you right now, I would act like a magnifying glass. I would have a clean yellow pad in front of us and I would write down these words, what is the one thing you can get done in the next 30 days that will...

Pumpkin Pulp Will Scare Your Disposal to Death

Put your pumpkin pulp into the trash to spare your disposal (and other plumbing pipes) a horrible death. The pulp, seeds, and other guts you’re scraping out of pumpkins this week can kill your garbage disposal, so toss them in the trash or the compost pile instead. In a press release, Roto-Rooter warns home owners about the dangers of pumpkin pulp, saying its plumbers “remove gobs of it from clogged drains” during the Halloween season. “Plumbers know that frantic home owners will soon be complaining about pulp-clogged garbage disposals and stopped-up kitchen sink drains leading up to Halloween,” says Larry Rothman, Roto-Rooter’s plumbing director. “It’s stringy and sticky, and when it dries and hardens it’ll choke off drainpipes and garbage disposals, creating all sorts of havoc.” Pumpkin guts haven’t been an issue for my household. But then again, we don’t have a garbage disposal. Year before last, we never got around to carving the pumpkin. It sat on the front porch, ev...