The Spring Real Estate Market is here! Whether it’s during the Spring or not, it’s important for a Seller to know how to prepare a home for the real estate market. If you are planning to sell your home, here are some ideas to begin preparing it for showings.
Interior Tasks to Prepare Your Home for Sale:
- Clean Windows
- Clean light bulbs and replace, if necessary
- Wash and polish flooring
- Vacuum and steam clean any carpeting
- Dust all surfaces
- Organize all closets and storage areas
- De-clutter (Start packing and put excess in storage)
- Repaint/Neutralize rooms, if necessary
- Deep clean Appliances
Exterior Tasks to Prepare Your Home for Sale:
- Reseal driveway
- Freshly mulch flowerbeds and gardens
- Trim shrubs and bushes
- Plant bright flowers and plants
- Clean Windows
- Paint faded or peeling paint, if applicable
- Wash siding, if applicable
- Clean and inspect gutters and downspouts
- Inspect roof
- Inspect chimney
General Tasks to Complete Before Listing Your Home:
- Service your HVAC systems (furnace & central air conditioning)
- Evaluate the efficiency of your home
- Inspect the plumbing
There are a lot of buzzwords used in the Real Estate world that may confuse Home-Buyers, especially First Time Buyers. Here’s a quick reference guide to help you understand the lingo.
- Appraisal is the estimated value of the property.
- Certificate of Title is a document that ensures the property is legally owned by the person who claims it.
- Comparative Market Analysis (CMA) is a study of how comparable local homes have sold to help determine a reasonable price for property.
- Contingencies are conditional that must be met in order for the offer on a home to proceed.
- Due Diligence are the actions that a responsible buyer must address to protect the real estate investment.
- Debt to Income Ratio in order to qualify for a loan, your monthly debt cannot exceed 43% of your monthly income.
- Earnest Money Deposit payments are made to the Seller with the offer to show your serious intention.
- FICO Score is a numerical value assigned to lenders based on their credit history.
- Fiduciary Duties are the responsibilities of the broker that the Real Estate Agent works for and are determined by the state.
- Good Faith Deposit is a payment made to the lender with the offer to show serious intention to complete the transaction.
- HOA is the Homeowners Association, an organization that determines community rules and standards.
- Loan to Value Ratio is how the lender determines if the loan is worth the risk associated with it.
- Mortgage is the home loan.
- Pre-qualification is the process used by the lender to determine if the borrower is qualified for a loan. The amount is approximate.
- Payment Terms are the principal, interest, taxes, PMI, etc. What the Buyer really needs to know if the monthly and cummulative totals.
I got this terrific question today…
Hey Sandi! I was wondering if you also help people buy homes? We are currently looking to buy, but really have no idea what direction or where to start. I thought I’d give it a shot and see if that’s something you do as well, or if you are able to point in the right direction?
Why yes, I can also help people buy… and would love to help you!
The first step is to find a lender to work with to pre-qualify you for a loan and establish the budget. Do you have a relationship with a bank or credit union, or would you like some suggestions? I know someone who works over at Ross Mortgage and that could be a nice place to start.
Danielle Boote/Ross Mortgage
Since you are first time buyers there should be some cool programs available. If we need to we can also look at other creative options like a land contract (higher down payment but an option in some cases where getting a mortgage isn’t possible) and things like that.
The next thing once we know budget (and how much money you’ll have to put down, or what considerations we’ll need to make a deal work and the loan go through) we’ll want to look for what you want in a property. So these are the next questions you should get together answers on:
Areas – Cities:
Looking for in town, or out in the country:
Style of house?
Number of bedrooms/bathrooms?
Do you need a garage/outdoor storage?
Do you want a house or a condo?
Anything else that is of interest to you? We will want to rough out the must have’s and then the would be nice to have’s so we can start looking.
Also, download my real estate app to your phones and you can have up to the minute live searching capabilities too!