Legal Edge RE

Massachusetts Real Estate | Metro Boston, North Shore & South Shore

How Can I Remember Each Home When I’ve Seen So Many?

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The key to success in buying a home is similar to the key to success in anything:  planning and organizing.  The process will take you through the four steps that will help you remember the homes you’ve seen and help you choose the best one for you.

  1. Map it out.

Step one in the planning process is to find a map of the area or town where you’re looking.  Mark  the places that are important in your decision-making process –schools, parks, grocery stores, malls, or if you commute – where the train stations are or the best way to get to get to the interstate.

Then, as you visit each home, place a mark on the map, and see how it fits in with your overall plan of location, location, location.

  1. Keep the listing sheets.

For each home you visit, the real estate consultant should give you a listing sheet.  This contains vital information about each home –the address, list price, lot size, number of bedrooms and bathrooms, and extras.

  1. Take notes.

As you walk through the house, take notes on the back of the listing sheet about memorable things.  Make sure you note the date and time you visit.  You may want to sketch out the floor plan while you’re there.

You should also take your “wish list” with you and check off the items that are “must haves” and “nice to haves.”  This will help keep you from getting distracted by a great or horrible decorating job.

  1. Take photos.

You’re always welcome to take photos of the exterior, but make sure to ask before taking any inside – not everyone wants to “share” their personal lives with others.  Taking pictures can go a long way to reminding you what a home looks like – and how it fits into the neighborhood.  It also lets you look at it later, after your first impression, when you want to look more at the details.

5.  Go Live

If your best home advisor friends or family can’t make a showing because they are out of town, ask if you can do a live video as you walk through so they can ask questions in real time. Same rules apply about asking if it’s OK to make the video connection.

What’s your favorite way of keeping track of  features you like in a home?

Seven Money-Saving Secrets You Can Use When You Buy A Home…

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1. Choose a low down payment loan.piggybank

There is no law that says you MUST put 20% or even 10% down. There are some loans that require as little as 3% or even zero down. This is attractive for three reasons: It’s hard to save for a large down payment, you could earn more interest on that money than you’re paying in interest on the loan, and it’s nice (and sometimes necessary) to have cash on hand after buying a home.

2. Have someone give you money to pay closing costs.

A relative, church or nonprofit organization can give you money for closing costs. Cash gifts from wedding gifts can also be used.

3. Ask the seller to pay some of your closing costs as part of your offer.

Sellers are usually allowed to contribute to a buyer’s closing costs.

4. Do not pay too much insurance at closing!

Most Lenders require 14 months hazard insurance paid at closing, so be ready. What happens to that extra money? It sits in your escrow account until you sell the house. It’s safe there, but it often earns no interest.

5. Remember, the homes that you’re looking at don’t belong to your agent.

You must be straightforward about your likes and dislikes in order for the agent to do the best job for you. Your agent should show you everything available that meets your requirements. Don’t make a decision on a house until you feel that you’ve seen enough to pick the best one. Review the Multiple Listing printout with your agent to make sure that you are getting a COMPLETE list.

6. Shop around for your home insurance.

A little shopping might help save you money.

7. You can deduct money paid for discount points from your gross income before computing your tax.

See a CPA for more information.

Coloring Contest

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Sophie and LColoring Contestisa spent last Saturday at Norwood Day, getting to meet lots of our neighbors. We ran a coloring contest inside our booth. Here is the link to the entries  Legal Edge Coloring Contest. The winner will recieve a $25 Visa gift card. We are still waiting for a few more entries to get sent in. Each participant received their very own box of crayons. We were very busy handing out information about buying and selling homes in Norwood, discussing the limited supply of homes on the market and why it is an excellent opportunity for sellers. We were also able to help make some connections for buyers looking for mortgage connections. It was a great day, with fantastic weather.

Visit our facebook page and tell us which one of the pictures is your favorite!

 

The Art of the Walk Through

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magnifyingglassOne of the last crucial steps to take before you go to the closing table to sign your mortgage documents should be the walk through of your new home. This gives you the opportunity to see that everything is in good working order, and get an opportunity to deal with any last minute problems that might arise.

The walk through should be scheduled within 24 hours of your closing. It will take about 30 minutes to compete.

Now, what are you actually doing when you do the walk through?

Check that the appliances and plumbing are working- you can turn on the dishwasher, turn on light switches, run the faucets to see that everything is operational.

You can also ask for owner manuals for appliances and warranties on any items that may exist.

Double check that any repairs that were supposed to been done have actually happened.

Make sure personal belongings have been removed, or items that should be left behind per your contract are still in place.

Make sure mother nature hasn’t done any damage to the property since the purchase and sale has been signed.

If you do identify some problems, let your real estate agent get involved. They can negotiate a repair that hasn’t happened, get items removed that are still in place, or arrange for funds to be held back until the situation is corrected. Don’t panic if something is out of place. There is always a solution, whether it is a postponement of the document signing or a renegotiation of an item. You have legal recourse as protections and most often times, a mutual agreement can be reached.

We have had situations where flooding has occurred due to a storm, or Sellers have refused to remove their belongings. In each case, a short negotiation remedied the repairs. It is also not uncommon to find that Sellers will ask to leave items that may be useful to you, such as gardening tools that they no longer need, at no additional charges.

The walk through can give you that additional sense of confidence that you have made a great decision with your home purchase.

Once the walk through is complete, you are on your way to signing your documents and receiving the keys to your new home.

What’s the biggest surprise you have come across while doing a walk through?

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Does An Open House Help Sell Your Home?

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Legal Edge For Sale Sign
Welcome to the Open House

In the fast paced world of the internet, where everything regarding a potential home purchase can be viewed on line, why would a Seller want to have an open house? Here are a few great reasons why you should schedule an open house.

First, this is a great opportunity to properly clean up and simplify what’s in your home. Just think that for every single item you give away or pack away during the staging process, it is one step closer to the actual move out date and one item less to pack later on. This cleaning process now gives you the best opportunity to showcase your house to the world.

Both scheduling an open house and the for sale sign on your lawn let friends and neighbors know what’s happening. You want them to come in and take a look. What better form of advertising is there then word of mouth? If your neighbors know of friends that are looking to move into the area, they can give them a great incentive to come take a look.

There are many first time home buyers that will want to take a look. If they see what they like, the Buyers will be encouraged to take a second look and schedule a private showing. Or, in some areas where home inventories are still low, offers may be made right on the spot.

At your open house, it’s a great idea to have a booklet with information about the neighborhood, a plot plan or blue prints for the home, a map showing where the local schools are and any local amenities.

Finally, try creating some excitement. By having a short time frame for your open house (for example, one hour only), it brings in all the potential Buyers at the same time. This creates a sense of buzz about the home since many people are viewing it at once. A home that everyone wants, creates better offers.

When you schedule your open house, make sure you take into consideration holidays, sporting events or any local activities that could keep potential Buyers away.

What Are Words Really Worth?

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Great descriptions sell your home!

While an amazing picture of your home will catch a Buyer’s eye, the accompanying description must be equally as powerful. The description you create can actually increase of decrease your profitability margin.

Words can be too vague, over used or have become passé and will be a disservice to the listing if used. The goal is to appeal to something specific that the Buyer can connect with. Stay away from the following:

Fantastic = too good to be true

Charming = small and often not updated

Spacious = vast or by removing some furniture the room looks bigger than it is

Great Neighborhood = everyone views a neighborhood differently, what is important to a young family may not be important to couple that is down sizing.

To increase your profitability, use words that reflect Buyer’s needs and wants today. Here are some great examples that Buyers are looking for: state of the art, granite, energy efficient, gourmet, and hardwood.

A great description will not only get Buyers in the door quickly, but it will lead to a quicker seller with higher profits as you have managed to meet today’s expectations.

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Legal Edge Real Estate, Inc.
Massachusetts Real Estate
Metro Boston, N. Shore & S. Shore
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P: 339‑237‑3930

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