Just a few helpful hints in Selling or Buying properties

When SELLING of your property, you should consider the following:

• Is your Agent able to provide you with a Comparative Market Analysis (CMA)? This will show you a true picture of the current market and give you a good idea as to what similar properties have SOLD for in your area. This information is good to assist you in determining a fair asking price of your property. This also details the number of days a property was on the market.
• Does the Agency representing you offer a Home Warranty program to you and is it transferable to the buyer? A Home Warranty program is a great tool in eliminating questions or concerns buyers may have about appliances, the furnace, etc.
• “Curb Appeal” This is Huge! Buyers usually make up their minds about entering a home within 2 minutes of arriving at your home. “If it looks good on the outside it must be good inside.”
• Repairs; If there are any Minor household repairs that need to be addressed now is a good time to do it. Such as touch up paint, burned out light bulbs, small cracks in the drywall get rid of the excess garbage. This tells the prospective buyer you care about your home and its appearance. A well taken care of home brings a higher sale price.
  Talk to your Accountant. See if a “1031 like exchange” is beneficial to you. Only your accountant can tell you this.
• Does your Agency have a Comprehensive Marketing plan? Have they shared that information with you and are you able to modify it?

IF YOU CONSIDER PURCHASING:

Vacant Acreage or Vacant Waterfront you may want to find out:

• Is there a Survey or plat of the property?
• Is there a Soils Test (Perc test) on this property if considering building
• Where are the Utilities (phone, electric, etc) located in relation to the property
• What is the property Zoned?
• Are there any Restrictions or Covenants on the property?
• Do you have Legal Access to the property?
• What are the property Taxes?
• Is this a “Buildable” lot?

Residential Properties you might consider:

• A Survey (if the actual lot dimensions are important.)
• Is there a Home Warranty available?
• Inspections: Home, Building, Well, Septic, Safe Water, Etc.
• Financing: How many days will it take you to process your loan application and get financing in place?
• Are you selling an existing home to purchase this one?
• Do you need a “Bridge loan”? (A loan given against your current home to be able to purchase your New home prior to the sale of the 1st home.)

* It is always advisable to have an Attorney review any and all documents your unsure of.