Get Ready to Sell!

Exterior Tips:

• Remove all debris and trash from the yard including any tree limbs, branches, and left over leaves.
• Sweep the driveway and walkway of any sand and pull weeds.
  

• Pay careful attention to have all your landscaping beds weeded out and presentable. Adding a fresh coat of mulch gives your home an edge.
• Trim the bushes if needed. Keep them a few feet back from the home allowing the home to breath. The home inspector will reinforce this.
• Consider planting some hearty Spring flowers that have lots of color to increase curb appeal further.
• Evaluate your driveway and get it seal coated if it looks old and tired. Seal coating is fairly inexpensive and really does wonders to give your home a new and fresh feel.
• Clean out your gutters. Leaves coming out of  your gutters creates a feeling that the home has not been cared for.
• Hose down your deck and consider seal coating the surface if necessary.
• Look for any rotted trim boards and replace as needed. This is a common inspection item.
• The entry way to your home should look magnificent! A fresh coat of paint on the front door always looks terrific. Remove any cob webs as this is a place they often are found.
• Consider adding a few potted flowering plants at the entry with some vibrant colors.
• Use a garden hose and spray down any areas of your siding that may have mold or mildew build-up.
  

Please realize that a home buyer will almost ALWAYS estimate higher for making repairs than the actual cost for these improvements.  You will spend far less money to do these things before the home goes on the market than letting a buyer try to renegotiate after a home inspection.



Interior Tips:

• When getting the interior of a home ready for sale one of the first considerations should be taking any unnecessary possessions and removing them from the home. You want to make your home feel as large and uncluttered as possible. De-cluttering old furniture, boxes, and nick knacks go a long way in maximizing the presentation. You may want to consider a local storage center for these things, as it is well worth the money to do so. This of course is if you do not have the space in a basement or attic.
  

• Once all the clutter is gone I would suggest a major Spring cleaning if necessary. The bathrooms and kitchen should be spotless! These are the rooms that buyers will pay careful attention to. These rooms are the most costly to upgrade so buyers will be far more picky here.
• Spruce up all the closets in your home. Buyers are always concerned about closet space. Having the closets at least neatly organized is important.
• Clean all the windows. Homes always show better when there is an abundance of natural light. Buyer’s especially gravitate towards bright homes and away from dark ones.
• Touch up painting is essential in any home sale. Concentrate on high traffic areas where scuff marks and worn paint are readily visible.  Homes that have painting issues really stand out but in a not so pleasant way!
• Always paint or bleach any old ceiling stains away. For example, if one of your kids took a shower without the curtain fully closed and there is an awful looking stain in the kitchen ceiling below the bath above… get it removed! The fact that it looks terrible is reason enough but buyers will also assume you have a plumbing problem.
• Clean out and organize the garage. A spacious garage will be a consideration for many home buyers.
• In areas of your home where natural light is not abundant, make sure you have lamps with brighter bulbs. In addition make sure they are on for showings. There is nothing worse than a dreary and dark home.
• Clear your kitchen counters completely of everything that is not essential. Buyers love to see a spacious kitchen, especially counter areas.
• Clean all faucets, mirrors, lights, and ceiling fans. There should be no visible dust bunnies!
• Re-caulk any tubs,  showers,  sinks, or tile flooring that has loose grout.
• If you have leaking faucets make sure they are corrected before placing your home for sale.
  

Common Rental and Real Estate Scams

The Federal Bureau of Investigation remind individuals to be cautious when using the Internet to advertise rental properties and real estate. They continue to receive numerous complaints from individuals who have fallen victim to scams involving rentals of apartments and houses, as well as online real estate postings.

Rental scams occur when the victim has property advertised and is contacted by an interested party. Once the rental price is agreed upon, the scammer sends a check for the deposit. The check covers housing expenses and is either written in excess of the amount required, with the scammer asking for the remainder to be remitted back, or for the correct amount, but the scammer backs out of the rental agreement and asks for a refund.
Because banks do not usually place a hold on the funds, the victim has immediate access to them and believes the check has cleared. In the end, the check is found to be counterfeit and the victim is held responsible by the bank for all losses.

A second common scam involves real estate that is posted via classified websites. The scammer duplicates postings from legitimate real estate sites, alters them, and reposts them. Often, the scammers use the broker’s real name to create a fake e-mail address, which gives the fraud more legitimacy. When the victim sends an e-mail through the website inquiring about the home, they receive a response from someone claiming to be the owner.
The “owner” typically says he and his wife are doing missionary work in a foreign country and need someone to rent their home while they are away. If the victim is interested, he or she is asked to send money to the “owner” in the foreign country. These funds go directly to the scammer, and the would-be renter loses his or her money.
Ways consumers can protect themselves from these schemes include:

• Do not accept overpayment for rental properties. If you receive a check that’s for more than the specified amount, return it. Do not deposit it.
• Do not wire funds to people you do not know.
• Verify potential renters’ income.
• Request renters’ personal references and follow up with those individuals.
• Check with your county recorder to learn who owns the property you’re seeking to rent.
• Call the property manager or association, if applicable, and ask about the landlord.
• Ask the landlord for a rental application. It’s a red flag if one is not available; most managed properties require an application.
• Find out how much of a security deposit may be requested in your state. Scammers will often ask for extra money in the form of a deposit.

The following requests can be indicators of fraudulent activity:

• The would-be tenant wants to rent or purchase the property sight unseen.
• The potential tenant says he or she is out of the country and he or she would like to send you a cashier’s check.
• The payment is for more than the agreed upon amount.
• There’s urgency to the entire process. For example, the tenant says he or she is arriving in the country next week and needs to establish residency right away.
  
  

What Is A Good Faith Estimate?

What is a Good Faith Estimate?

-A form provided by your lender that gives you basic information about the cost of your loan-

The GFE is required by law. Prior to 2010 the GFE was purely and estimate. Lenders are now commited to most of the dollar amounts quoted on the estimate. The final costs might differ slightly from those on the GFE, but only the third party costs, and by no more than 10%

The GFE is not a contract. Reviewing the GFE does not obligate you to accept the loan, nor does it obligate the lender to make the loan. 

-A standard form used by all lenders and brokers-

Each box on the forms you receive from competing lenders or brokers must contain the same information so that you, the borrower, can compare the loans in a way that makes sense. The codes on the form correspond with HUD's settlement costs codes. For example, a code 1106 charge always refers to notary fees. Once the GFE is issued, the lender or broker cannot change the dollar amounts in the origination box. 

What fees and charges are on the GFE?

The GFE will include origination fees and settlement fees. A few of the figures you are liekly to see on a GFE include:

>Your Monthly Payment	>Your Interest rate
>Property Appraisal Fee	>Credit Report Fee
>Broker Fee	>Application Fee
>Underwriting Fee	>Wire Transfer Fee
>Rate Lock Fee	>Title Search Fee
>Document Preparation Fee	>Title Insurance
>Recording Fee	>Home Inspection Fee
>Prepaid amounts such as: taxes/insurances

What Does the Borrower do with a GFE?

-Pay close attention to the fees that the lender controls directly-

Third party fees (title search, notary, title insurance and so on) are fairly consistent in the industry and won't vary much from one GFE to another. Taxes and government fees should be the same no matter what lender or broker you choose. The major differences will be in the lender/broker controlled fees like underwriting, mortgage insurance application or tax-related service fees. 

Your lender cannot guarantee costs if you choose your own provider of third-party services. If you choose to use a title company, real estate attorney, notary public, or other third-party vendor not on the lender's approved list, the lender understandably cannot predict or control the cost and is not obligated to honor any price noted on the GFE. 

-Check out the lender’s/broker's reputation-

Details on a GFE can be changed up to 3 days before closing. Unscrupulous lenders/brokers in the industry may use that as a bait-and-switch loophole, luring you to a favorable loan only to change the terms at the last minute. Reputable lenders will not, as a matter or course, change (Or “redisclose”) pertinent loan details at such a late stage in the process. Ask your lender if they expect any details to change or fluctuate the interest rate for example, during the weeks leading up to closing.