What quick inspection tips should I know when looking at real estate?
Whether buying or selling Seattle real estate, this quick inspection checklist will help assure the property is in tip-top condition and eliminate unpleasant surprises. Potential buyers can print this out and take it with them when visiting Washington homes for sale. If you notice damage or signs of prior damage ask for information on who performed the repair, copies of receipts and other pertinent information. Always obtain an independent professional property inspection before buying any Washington real estate.
Property Address:
Real Estate Agent:
Property Checklist
1. Water Damage. Look for signs of current or previous water damage. Common areas of concern include under sinks, basements and ceilings.
2. Fire Damage. Even small kitchen fires can lead to electrical problems. Pay attention to outlets or other signs of electrical issues.
3. Pest. Take time to closely examine suspicious droppings or other signs of pest infestation. Rodents, roaches and other insects can poise health risk or damage the infrastructure of the building.
4. Mold, Mildew & Musty Odors. Moisture problems, flooding or other issues can range from serious to mild nuisance so keep your eyes and nose on the look-out for signs of moisture damage.
5. Hot or Cold Rooms. Excessive temperature changes between rooms might indicate inadequate insulation, air leak or insufficient heat/air handler.
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How can I prevent money problems when buying a new home?
Searching for Washington new homes or pre-existing Washington homes for sale? Chances are the state of the economy and your personal household finances have been on your mind. The media is filled with reports of foreclosures, bankruptcy and other financial mishaps but fortunately, with a little advance planning you don't have to become a statistic.
Financial crisis planning can help make sure you are able to weather difficult financial pressures and assure your home remains as good an investment today as tomorrow. Use this quick guide to keep your household finances safe and secure when shopping for Washington new homes.
1. Buy Right: One of the first rules of investing is to buy at the right price and buy only as much house as you need. More space requires more maintenance, insurance and other costs.
2. Property Insurance: The mortgage holder will require full insurance on the property but take time to examine deductibles and other policy details to make sure you have the coverage needed in the event of a disaster. Common additions include loss of use, increased liability and other endorsements designed to protect property, possessions and visitors.
3. Unemployment Insurance: Should you be down-sized or unemployed for a significant period of time unemployment insurance can help assist with monthly expenses including the mortgage.
4. Mortgage Insurance: Stand-alone mortgage insurance policies are often available in the event of the death, disability or other catastrophic events impacting your household finances. Depending upon the circumstances the entire mortgage can be paid in full. This is a particularly useful type of coverage for families with one income or other special circumstances.
5. Disability Insurance: Disability and major medical expenses are one of the leading causes of bankruptcy in the nation. Although many employers offer Workers Compensation coverage, that only provides protection in the event the accident or injury was work related. Accidents, injury or illness outside of the workplace can result in disability lasting six months or more. Disability insurance allows you to continue paying the mortgage and other bills in the event of a long term illness or injury.
6. Savings: Most financial advisors suggest having a three to six month emergency savings account for unexpected bills, repairs and other out of the ordinary expenses.
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How do I create a great property package?
Staging has become big business—especially for higher priced properties in Seattle, Tacoma and other Washington property for sale. A quick visit to most Washington new homes is sure to demonstrate how effective staging and property preparation can be in selling a home but staging goes beyond just the visual appearance. Most potential home buyers will look at several properties before deciding which one to purchase so an effective way to stay on their mind is to prepare a literature package. If you are contemplating listing your Washington home for sale then use these quick tips on how to prepare a package for your property.
Set the Stage. Many sellers start by asking a real estate agent for an informal evaluation of the potential selling price of the property. Before the agent shows up for the first visit, take time to make the property look its best. Remember, if the agent is enthusiastic about the property then it will show through to potential buyers!
Clarify the Details. Make a list of the special details, upgrades and other areas of interest that differentiate your property from the rest. Even small items can make a property more appealing to potential buyers; common examples include upgraded appliances, additional outlets or cable connections in each room and other details that are easy to forget.
Think Like a Buyer. What local amenities, convenience and other factors would make the home and surrounding community attractive? Common examples include shopping, hospitals, schools and parks.
Organize and Assemble the Materials. Compile all of the above information plus other useful details about the property such as age of appliances, warranty information, repairs and other documents that provide helpful insight into the condition of the home.
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How do appraisals work?
Buying or selling Washington real estate requires the use of a qualified and reliable appraisal in order to obtain financing. If you have never worked with an appraiser then there are a few things to keep in mind.
1. Understand the Objectives: If an appraisal comes in lower than expected don't get upset. Appraisals are there to protect the bank and the buyer from spending too much on a property compared to what it is worth.
2. Agree on Dates: The real estate agent can assist in making sure everyone has access to the property on the date and times agreed upon.
3. The Process: The appraisal itself is based upon many criteria including: the age and condition of the property, desirability of the surrounding neighborhood and curb appeal. The appraiser will often take photographs, refer to similar properties in the surrounding area and make notes about the property itself.
4. Reporting: Once the appraisal is complete the information is sent to the lender in order to determine if the price of the property is equitable.
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How do I handle conflict when buying real estate?
"It isn't that they can't see the solution. It is that they can't see the problem."
(G.K.Chesterfield)
This quote by Chesterfield exemplifies the type of problems encountered when purchasing real estate. Often, just being able to identify the problem is the biggest step in resolving it!
Buying and selling Seattle real estate or any property for sale in Washington is usually a smooth transaction, especially if you are using a qualified real estate agent but every once in awhile a set back or conflict takes place that threatens to spoil the entire deal. Here are some quick steps designed to set things back on track in as short a time as possible.
1. Clearly define the problem: Make sure you understand the problem and why it is taking place. Many problems are due to poor communication, a missed deadline or other small detail that can easily be fixed - or avoided - with proper communication.
2. Make a schedule: Keep track of all major milestones, deadlines and paper-work. Don't be afraid to call your real estate agent, broker, bank or other professionals to find out the status of an item or document.
3. Put it in Writing: Buying and selling Washington real estate is essentially a legal contract so make sure everything is put into writing.
4. Keep Records: Make copies of all important documents, contact information and other paperwork as you progress through the various transactions, inspections and contracts.
5. Problem Solving: Despite the best plans, problems sometimes still arise. As soon as possible, contact your real estate agent and keep the lines of communication open. Remain firm, supply required documentation to support your position and propose a solution if possible.
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How can I juggle a work-life balance?
One of the major reasons many new home buyers are turning to Washington condos is to help define a work-life balance; after all, condos are a great blend between home ownership without the hassle of maintenance. To help find your own perfect work-life balance use some of our other suggestions to harmonize your life.
1. Reduce the Commute: Research indicates a higher level of stress for people who commute more than 30 minutes to work so begin by asking your real estate buyers agent for a list of Washington condo's within a 15 mile radius of your place of employment.
2. Research: Use HomesandLand.com's property search tool to take virtual tours and learn more about the condos in your price range. Once you have narrowed your selection down, speak to your real estate buyers agent to request information on condo association fees.
3. Visit: Schedule time to visit potential condos of interest. By this point you should have narrowed down the list significantly. While you are visiting pay attention to the general upkeep of the community and individual units.
4. Maintenance: Typical home ownership requires more time than many people realize: from yard care to repairs, there always seems to be something in need of attention. Depending upon the condo some or all of the general maintenance and repairs is often included. Take time to evaluate the additional cost versus the time to see if it is a good balance for your individual situation.
5. Personal Inventory: It is hard to put a price tag on the advantages to finding your own work-life balance but take time to evaluate time off work, sickness, commute time and other factors over the past several years. Many people come to realize the reduced commute time, lower maintenance and lack of stress more than compensate for the small additional premiums charged.
6. Indirect Amenities: Be sure to include other indirect amenities such as community club house, golf, pools, fitness or other benefits you would normally pay for.
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What should I know before relocating to Washington?
Every state has its share of antiquated laws and legislation. If you are thinking about relocating or buying Washington real estate here are a few wild and wacky laws certain to give you cause for a long pause.
- People may not buy a mattress on Sunday. Apparently it is a good idea to settle into your Seattle real estate on some other day or forego a good nights sleep until later in the week.
- All lollipops are banned. Yes, it's true. According to law those bank lollipops are cause for concern so search elsewhere for your sweet treats when entering Washington state.
- For those of you purchasing Seattle real estate you should know that it is illegal to carry a concealed weapon over six feet in length. Exactly how you would manage to conceal it is still uncertain but by all means - be a law abiding citizen and don't do it!
- Finally, it is illegal to ride an ugly horse in Wilbur Washington and TV's may not be purchased on Sundays if you live in Tacoma.
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