Pricing Decisions

Pricing your home is one of the most important decisions you must make when selling your property. Some sellers want to price their home based on the return they would like on their initial investment, while others will base the price on what they need to buy their new home. Location, condition, and accessibility are three other variables that will affect the price of a property.




It is crucial to price your home correctly from the beginning because it will not sell if it is overpriced. Don't make the mistake of thinking that you can reduce the price later because you will have already lost many potential buyers. The motivation of the seller is another very important factor. The higher the seller's motivation, the lower the price, and low motivation will mean a higher price.

The state of your local real estate market is one of the strongest determining factors when pricing your home. A professional Realtor will be able to guide you through the pricing pitfalls with a written market analysis that includes the selling prices for similar homes in your area

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Storage Space

No matter how much storage space they have, most people feel that it's never enough. Most buyers put storage space high on their list of priorities for a new home, and all sellers must face the minor indignity of having prospective buyers open all of their closets to determine the size of each one.

Even an enormous closet looks small if it is cluttered. Your closets should be as organized as possible while your property is on the market. If you have too many things, have a yard sale, rent a storage unit temporarily, or make a tax deductible donation to a local charity. When you finish putting all of your closets in order, then attack the other storage areas. The areas that you have for storage will look much more spacious and attractive if they are neat and well-organized.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Tenant/Landlord Relationship

It is important to attract and keep great tenants when you own investment property. A good way to begin a positive tenant/landlord relationship is with clear communication about what you expect from your tenants and what they can expect from you.

The written lease agreement spells out the legal obligations of each party--the landlord must ensure that the property is habitable and complies with local codes, and the tenant must pay the rent in a timely manner and not damage the property. Make sure that the terms of the agreement are stated clearly in straightforward language.

Let the tenants know of your commitment to keep the property in good repair and of your desire to know about little problems before they become serious. When it's time for the tenants to move, offer to provide a reference letter if they need one. This is a nice way to say "thank you" to them for having maintained the property during the terms of their lease. Good communication can help you to maintain the quality of your investment.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

What Is Fair Market Value?

What is the best price for some real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV is defined as "the price that a buyer is willing to pay and the seller is willing to take". Sounds great, but how is this price determined?

The starting point for determining a fair price may be an opinion of the value or "competitive market analysis" : a CMA. This analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired listings (which did not sell). Local, national and international trends and market conditions must also be considered.

By comparing similar properties of each type and the market conditions, appraisers, lenders and agents come very close to the maximum price that the market will bare for that home.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Need Title Insurance

Title insurance is one of the closing cost items on the closing statement when a home is purchased. This insurance protects the buyer from defects in the title that are not discovered until after the closing. There are two kinds of title insurance--coverage that protects the lender for the balance of the mortgage if the buyers have a loan, and coverage that protects the buyers' equity in the property.

It is prudent to purchase owners' coverage because most of the title problems that arise after a closing are not from a sloppy title search, but are the result of inaccurate information in the public records. The ownership chain goes back a long way, and fraud or misrepresentation anywhere in the chain could mean big problems. Title insurance will protect you if a wife or husband did not properly sign off on the ownership papers or if the property was sold as part of an estate that was later disputed. Most people do not have to deal with the title insurance company after the closing, but this coverage could save your investment if a problem arises.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

FHA Advisory

If you are in default on an FHA-insured mortgage, and the lender intends to foreclose, you should know about the Mortgage Assignment Program. You will have to provide certain information to the FHA to apply for this program. To be considered eligible for assistance, the home must your primary residence, you must be at least three full payments behind on the mortgage, and the reason for your failure to make the mortgage payments must be due to circumstances beyond your control, such as unemployment. The FHA must be reasonably certain that you can resume making the payments at the end of 36 months and that the accrued deficiencies will be paid back before taking over the loan.


The Veteran's Administration also has a mortgage assistance program for those who have VA mortgages.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

The Title Search

The people who do title searches have an extremely important job. They must ensure that the sellers really own the property being sold and that all liens against the property are being paid off as a result of the sale.

If the seller has had financial difficulties, for instance, and didn't pay his bills, there may be judgments that must be satisfied on or before the closing. Someone in addition to the party who signed the sales agreement may have an interest in the property. If so, it will be necessary for that person to sign the sales agreement and the deed that transfers ownership to the new buyer. The preliminary title report will also show any easements that run with the property. In addition, the Title Company will go back many years, examining what is called the "chain of title". If you learn that the property you are buying has title problems, don't panic. Most of them are resolved easily and in plenty of time to avoid delays in the closing.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Need Mortgage Insurance

If you have a mortgage on your home in town, you have probably gotten several offers from insurance companies that sell coverage to pay off your mortgage if you die unexpectedly. Insurance is a good idea in most cases, however, mortgage insurance is usually a poor value.

If you read the large print, it looks like the policy will protect your family if you die before your mortgage is paid off. All you have to do is fill out the paperwork, have a physical exam, and pay a little more each month. The fine print, however, may limit the coverage to accidental death. If there are two people on the deed of trust, the policy may pay only half if one of them dies. If you are considering mortgage insurance, call a good insurance agent before you send in your forms. Insurance experts usually advise against separate policies to cover various contingencies. A regular term life insurance policy equal to the amount of your mortgage will probably offer you a lot more coverage for your money.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Conyers, GA Land/Lot For Sale From RE/MAX

Conyers, GA Land/Lot for Sale From RE/MAX

Evaluating Neighborhoods

When sellers think about curb appeal, they usually think about their own front yard and the effort required to keep the house looking good. When prospective buyers look at homes, they evaluate the house and the neighborhood. If you need to move, the price that your neighbors get for their house could have an impact on the value of your home.

This knowledge makes its own case for doing your part to make the neighborhood appealing. The time to take remedial action is before you think about moving if your house is the one with peeling paint, over-grown bushes, rusty bicycles, and cracked sidewalks. The value of your home will be largely determined by the recent selling prices for comparable properties, and neighborhood "eyesores" do not help to keep the values up. Even if you don't feel that you will ever move again, you will enjoy living in a house that is a real source of pride.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

The Settlement Statement

The buyer and seller will sign the settlement sheet at the closing, detailing all of the charges that each party has incurred during the sale of the house. It is crucial to go over the sheet for accuracy and to make sure that you understand everything on it before you complete the transaction.

When a contract is negotiated, each side agrees how to divide the loan fees (or points), as well as the other closing charges, such as state or local taxes or escrow fees. Your Realtor can go over the settlement sheet and help you compare it with your purchase agreement. The seller's charges usually include the brokerage fee, the mortgage payoff, and any charges involved in clearing the title, as well as pro-rated property taxes, payments for termite treatment and escrow for repairs that could not be completed by closing. The buyer's costs include charges for the loan and title searches, insurance and any other legal fees. A good closing officer will go over the settlement sheet line by line, explaining each item and correcting any misplaced charges.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Moving Day

The closing on the sale of your home is Friday morning at 11:00, and that afternoon at 3:00 you are to complete the transaction on the house you are buying. Your sellers are completing the purchase of their new house on Monday. As sellers, each of you is obligated to leave your house vacant and clean at the time of the closing, and you will take possession of the home you are buying after the closing.

If you are faced with a game of musical moving vans, you may want to negotiate with your buyers or sellers to remain in your old house for a few extra days or move your belongings into the new home a little early. You should draw up a written agreement which details your arrangement, such as the amount of rent, the move-in or move-out date, and any agreements regarding utilities, insurance, or a damage escrow. If you need to make special arrangements for your move, let your Realtor know and work out the details as early as possible before the closing.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Energy Efficiency

Home buyers are increasingly concerned about the rising cost of energy. It is common for buyers to ask about utility costs and the energy efficiency when they are considering a home. One way to reduce energy costs is as simple as changing your light bulbs--from standard ones to compact fluorescent bulbs which are designed to fit most standard light fixtures and lamps.

The initial purchase price of compact fluorescent bulbs may seem a little steep--they average between $13 to $20 per bulb, but they last at least 10 times longer than a standard light bulb and will reduce your energy bills significantly. Manufacturers estimate that during the life of a single bulb you will reduce your electric bill by over $40. As an added bonus, the electric company will be able to reduce carbon dioxide emission by approximately half a ton per replacement bulb. Compact fluorescents don't work with dimmer switches, and if used outdoors, you should make sure that the fixture is well-ventilated and protected from rain.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Termites

Most home purchase agreements have clauses that deal with termites. After the agreement is ratified, a termite inspection is arranged. Before the closing can occur, the sellers must be able to produce papers signed by a licensed exterminator stating that the house is free of infestation and any termite damage has been repaired.
Before you sign an agreement to buy or sell a home, you should read the termite clause and be sure that you understand it. Who selects the exterminator and pays for the inspection? If bugs are found, who pays for the treatment? Are the sellers obligated to repair any damage and have they placed a limit of the dollar amount they will spend on those repairs? If treatment is required, the buyers may want a chance to discuss the options with the pest control company, especially if someone in the family is sensitive to the chemicals used to control the termites. Ask about the exterminator's guarantees or service contract options.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Moving Companies

Contacting different moving companies is one of the first steps in moving to a new house. You will find a variety of service options and price ranges from which to choose, whether you are moving across town or thousands of miles across country.

Call several companies for estimates. Ask each company exactly how their charges are calculated and what is included. How much insurance is included in the estimate? What is the cost for additional coverage? Are there special provisions for fragile or unusually valuable items? Is the delivery date guaranteed? If economizing is important, ask if there are ways to cut down on the bill by providing your own boxes and packing yourself. Household movers are competitive, and comparison shopping can help you get the best value for your moving dollars.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Deadlines

Both buyer and seller should be aware of all of the deadlines in their purchase agreement. Each contract is different, but there are usually time limits covering the structural contingency, the financing application, the loan commitment, and the closing.

If you are careless, you could lose your right to ask a seller to pay for needed repairs. There may be a limit on the time the seller has to respond to the buyer's request to complete repairs that are not required by the contract. Failure to apply for your mortgage on time may place your deposit at risk if the loan is denied. In many cases, the agreement can be declared null and void by the seller if financing is not approved within the time frame set forth in the contract. A delayed closing can cost the sellers money, and they may ask the buyer to reimburse these expenses.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Home Inspections

If you have a house for sale in town, your buyers will probably include a structural inspection contingency in the contract which will allow them to have an expert check the house and the major systems and appliances.

A professional structural inspector can help buyers to "know" the house and to feel comfortable with it, but the inspection does not result in a pass or fail grade. The buyers will learn important things about the house, such as where the water cutoff valve is located, in case of an emergency. The inspection may also help buyers set up a budget for repairs and determine if they want to invest in cost-effective measures to increase energy efficiency.

Buyers rarely back out of a sale after a structural inspection. Even if there are problems, you have the opportunity to negotiate a compromise and avoid any obstacles that could seriously threaten the sale.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Lender's Appraisal

Many sellers think that the sales price of their home is determined entirely by what they are willing to accept and what the buyer is willing to pay. There is another variable that can complicate the sale of a home--the lender's appraisal.

To protect the interest of their investors, the mortgage lender's broker hires an appraiser to give an independent and objective evaluation of what the property or home is worth. If the appraised value is lower than the selling price, the seller will be glad that he has enlisted the services of a professional and experienced real estate agent. The agent can give the appraiser information about neighboring homes that have sold recently that support the seller's price. If an appeal to the appraiser is unsuccessful, some negotiations may follow. Both the seller and buyer may have to make concessions to make the transaction go through. The bank may ask the buyers to increase their down payment or the buyers may ask the sellers for a drop in price.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Pricing

You have just found the perfect new house for your growing family, but it is a bit out of your price range -- unless you can get an extra $20,000 for your home. One can never be sure how much a house will sell for. It is always possible to list a home for a little more than it may be valued in the hopes that you could get lucky. After all, it just takes one buyer, and the market is busy!

However, if you want to sell your home faster, maybe you should consider taking less than you hoped to get. Don't buy and sell so close to the bottom line that you become concerned that the numbers aren't as close as you would like them to be. If you set your price within 5% of the market value, you greatly increase your chances of getting good offers that will result in a pretty fast sale (depending on market conditions). There may be other ways to increase your buying power and get you into that new house, such as adjustable rate mortgages or seller financing. When you are selling one home and buying another, you will need more than luck and the possibility of finding one person who may be willing to pay the extra amount you would like to get. Remember, you will need a highly professional real estate agent who can give you solid advice on how to make the transaction work for you.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Remodel or Move?

Your family has outgrown your home in town, but you have roots in the community that make it difficult to leave. Is remodeling the solution?

Get professional advice before you jump into a major renovation project. Decide what changes you want to make, and get bids from several contractors. When you have an estimate on the cost of the project, talk to your Realtor to determine if these changes will be cost-effective. Over-improving your home may make it difficult to get your money back if you sell it soon.

It is a good idea to talk with friends who have remodeled to get a realistic picture about working with contractors and to determine how disruptive the project will be to your family life. Remodeling a home is a major undertaking, so be sure that it is the best solution for you.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Investment in Your Neighborhood

Some neighborhoods have the reputation of being terrific places to live, and the difference is often the investment that people make in their community. These neighborhoods embody a community spirit that reflects the pride of the people who live there. In addition to the financial investment the residents have in their property, they also invest their time by participating in local affairs.

How can you become active in your community? You can participate in your neighborhood association by volunteering to serve on committees, and you can keep abreast of issues that could impact your area by testifying at hearings or writing letters to local government officials. There may be ways that you can help your neighbors if they are having a hard time with a serious illness or job loss. If your children are grown, you can make a tremendous difference by doing volunteer work in after-school tutoring programs. When some people begin to get involved in making a difference in their neighborhood, others soon follow.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Relocating

Moves are right up at the top of the list of stress-producing situations, and it is not uncommon to feel a little overwhelmed by the process. You must sell your old home, pack up, leaving behind many friends and memories, then get settled in the new area.


Professional Realtors understand the difficulties--and rewards-- of making a major move. By listening carefully to what you want and need, your agent will get a feel for the style of home, neighborhood location and amenities you are seeking. He or she can also point you in the right direction for information about schools, shopping, public transportation, and groups of people who share your interests. If you are considering a move, call a professional real estate agent for information about the area you would like to live in. Discuss the type of house you are looking for and your price range so that the agent can acquaint you with the available homes that will meet your criteria when you are ready to begin looking.

Dallas Chambers
RE/MAX Agents Realty
770-595-1541
dallasc@remax.net
http://www.dallaschambers.com/
 
Each office independently owned and operated.  All information deemed reliable but not guaranteed.

Interior Decorating

Many people recognize a decorating style they like when they see it, but they find it difficult to put together colors, fabrics, furnishings and window treatments to create the look they want.

Where can you find a good decorator? If you like your friends' home, ask them for recommendations. Many communities have decorator showcases where you can see first hand the work of several local designers. Furniture retailers sometimes hire professionals to assist their customers. Before you commit to working with a designer or decorator, you should sit down and discuss their fee structure, your taste and goals, and your budget. Pay particular attention to whether the person is a good listener and communicates well. Whether you are trying to make your home look wonderful in order to sell it or want to fix up a new home, the investment in professional advice can save you costly mistakes and make your home a reflection of your good taste.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Inspection Contingencies

Many purchase offers today have a contingency clause which allows the buyers to have an inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Such contingencies may make a seller nervous, but they are an excellent procedure for both the buyer and the seller.


The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect.

The positive side to such contingencies--the inspection usually addresses--and overcomes--the buyers' misgivings and confirms their decision to move ahead with the purchase.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Re-Financing

Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.


You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges.

The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two, it may not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your Realtor can help you work out the numbers and can refer you to reputable lenders.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

How Do Bridge Loans Work?

You already own a house, but one day you hear that the house you have desired for years is on the market. Out of curiosity, you call your favorite Realtor and arrange to see if the inside of your dream house is as terrific as the outside, and--suddenly you are in love. The sellers need a relatively fast settlement, and are not in a position to accept an offer that is contingent on selling your home before closing on the new one. While you are confident your house will sell fairly quickly, you can never be sure in a fluctuating market.


A bridge loan may be the answer to your situation. Many lenders specialize in providing short term loans for just this type of situation. The principal and interest is paid back when you close the sale of your present house. If the market in your area is strong and there is a good possibility of selling your home quickly, or if you are willing to offer your home at a price that will move it in a sluggish market, then a bridge loan is a tool that could make the home you love a real possibility. A good Realtor and a knowledgeable loan officer are the team you need to turn this kind of possibility into your future

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Points or No Points

Question: Which offers you the best deal, a low interest rate mortgage with "points" or a higher interest rate loan with no "points"?

Answer: It depends. Consider a 30-year, fixed-rate mortgage for $100,000 at 8 3/4% interest and no points. Monthly principal and interest payments would be $787. To qualify for an 8 1/4% loan, you have to pay three points, or $3,000. Payments on this loan would be $751, a savings of $36 per month. How can you determine which loan is best?

First, calculate how long you will have to live in the home in order to recoup the $3,000 that you paid in points. Divide $3,000 by your monthly "savings" of $36, then divide that answer (approximately 83) by 12 months per year for the number of years it will take to recoup the points (approximately 7).

If you are fairly certain you will live in your new home for seven years or more, then the loan with points is the better value. Other factors may influence your decision, however, such as how much cash you have for closing and your monthly budget. Such calculations will give you the data you need to make a decision.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net
Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Repairs

Typically there is a chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who usually finds a few items that need to be repaired. The Realtor gives the homeowner a list of the requested repairs. What comes next?

The seller takes care of the repairs in most transactions. Many sellers wait until the week before the closing to call someone to do the work (they want to be sure that they are going to make it to the closing table before they spend money on repair work).

If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

Dallas Chambers
RE/MAX Agents Realty
Office: 770-922-7777 X316
Cell: 770-595-1541
Web: http://www.dallaschambers.com/
E-Mail: dallasc@remax.net

Each Office Independently Owned and Operated. All information deemed reliable but not guaranteed.

Home Warranties

You have just found a new home that you love and are planning to place your current home in town on the market. When the day arrives for your first open house, you begin to think of all of the things that could break down or go wrong. The air conditioner may stop working or your trusty old dishwasher might "bite the dust" the morning that the structural inspection is scheduled. Purchasing home warranty protection is one way to reduce the worries for you and your buyer.

The most popular warranty plans cover the home from the time it is listed until one year after the closing date. Although the details of these policies vary, there is usually a standard deductible of $35 to $100 (this amount differs from state to state). Many sellers purchase these warranties to make their property more attractive to potential buyers and to limit their liability in the event that a problem is discovered after the closing.

Dallas Chambers
Re/Max Agents Realty
770-595-1541
http://www.dallaschambers.com/
dallasc@remax.net

Credit Card Sense

Most people know that a checkered credit history can disqualify you for a home loan, and maxed-out credit cards can do the same thing. But what most people don't know is that merely having a large number of credit cards, even with low balances and a history of timely payments, can disqualify you for a home mortgage loan just as quickly.


According to credit experts, having a number of credit cards can be just as detrimental to the granting of further credit as a history of late payments. Lenders look at it this way: If you have ten credit cards, each with a limit of $5,000, that means you have the potential to run up $50,000 in debt virtually any time you choose. That mere possibility makes you a greater risk, from their point of view.

The moral of the story? If you are planning to apply for a home loan in the future, keep only those credit cards you actually need to use and cancel the others.

Dallas Chambers
RE/MAX Agents Realty
770-595-1541
dallasc@remax.net
http://www.dallaschambers.com/