5 Important Steps Before Selling Home

1)Motivation for Selling

First of all, you need to know your purposes for selling your home. The reason you bought it was for investment ? or for long term residential purpose? Some people pay hard for their house installments for years and sell it because of emotion impulse.Discuss this issue with your partner  and think thoroughly before making any wrong decision.

2)Buying a New Home

Most of the people who plan to sell their homes also plan to get a new home too.So,do prepare the listings of new homes and do some research on neighbours and types of new homes you want to be residenting.If you are into investment,Check the location of the new home and future development plan in that area.

3)Call Real Estate Agents

Interview and talk to at least 2-3 neighborhood specialists and real estate agents.Selecting the right capable agent is as important as selecting a quality new home.Talk to the agent to understand the plans and strategies they are going to implement in marketing your home.

a)Home Sale Preparation

Get advices from people who sold their homes before.Move the furnitures out.

b)Repairs

Rapairs the basic maintenance issues.Do not save money on that which may cause you loosing a deal.

c)Home Staging

By staging your house,you will probably get more.Request assitance from agents and proffesionals.

d)Home Pricing

Do not select an agent based on suggested sales price. Some will overbid each other to get the listing but do not overprice. Remember taht overpriced homes often sell for less than the market value.

e)Net Profits from Selling

I always prepare two net sheets for sellers, each with a low price and a high price. This way, sellers can be prepared for the worst and hope for the best. If the lowest net price will let you buy the home you want, it's time to find financing.

4)Get A Lender

Check with existing lender how much existing need to pay off.Next,steps you need to do are order a beneficiary statement,check out new financing offers from your own lending institutions and credit unions,ask for a Good Faith Estimate (GFE),compare rates and fees,ask for referrals to mortgage brokers from agents. Often, mortgage brokers have more flexibility to discount rates and are more competitive.

a)Get a loan preapproval letter to check how much mortgage you are qualified to borrow.

b)Its is advisible to apply for lower mortgage for easier payment for the long run.

c)Compare the types of mortgage,select wisely.

5)Sell Before Buying

It's always more profitable to sell before buying a new home.Don't just search a new home through Real estate portals in the internet.Making decision by just viewing pictures and videos on new home is not sufficient.Visit the the place personally to have a clearer and more realistic and vivid look.

10 "DONT" for home buyers before closing.

Your home buying process is on the way.Looks like the sellers accepted your offer to purchase. The home is officially under contract ,The lender pre-approved you and you are waiting to move into your new house?Nothing is 100% certain until everything is settled.A wrong move could slow down or stop the transaction or could even spoil your whole plan.

1. Don't make any major purchase
You bought a new house.Thinking of getting a brand new car which fit your new house too?Its not advisible to do so if you are depending on a mortage for the house.
An increase in your debt to income ratio reduces the amount of monthly income available for your mortgage payment.
Even Using cash to purchase the car might not help, since banks consider cash reserves when approving your mortgage.Talk to your loan officer if buying the car is a must.

2. Don't Change Jobs Unless It's Necessary
A consistent job history is better than a nonconsistent one.It might not affect much if you change jobs within the same field, but it's better to stay put until the house is yours.

3. Don't Give an Earnest Money Deposit Directly to a For Sale By Owner Seller
Your good faith deposit should go into a trust account. Some for sale by owner sellers don't understand that funds are not their to spend until closing.
I've heard many stories about sellers who spent the deposit money prior to closing. When the transactions didn't take place for valid reasons--such as financing or repair issues, the buyers had to fight for a refund.
Find an attorney or other neutral party who will hold the deposit for you until closing day and make sure your contract dictates what happens to the funds if the transaction doesn't close.

4. Don't Let Your Emotions control you
Calm down and have a clear mind during the entire home buying process, especially during and after a home inspection. Be realistic.If you are buying an older home,some repairs are required to be done by seller but dont because of a little refusal from seller affected your decision of buying the house.
Never fall so much in love with the house that you'll do anything to own that lovely house--unless you're sure you can handle it emotionally and financially. Decide what type of repairs you can realistically tackle, then stick with the decision.

5. Don't Forget to Switch Utilities (electricity / water)
Its a simple one but also an often forgetted one,but you'd be surprised how many people forget to apply for utility service at their new home ended up staying in a house without water and electricity.Call the utility companies as soon as you have a contract. Find out how many days lead time they need to switch the service, then get back with them when you have a firm closing date.
After that,discontinue the services at your old home.

6. Don't Forget to Line Up Your Hazard Insurance
it's another often-forgotten task that buyers scramble to take care of at the last minute. Before closing, your lender will want to see an insurance binder showing you have coverage for the new home. Get it as early as possible so that closing isn't delayed.
In some locations, additional types of insurance coverage might be necessary. Talk to your lender about insurance requirements well before the closing date.

7. Don't Become buddies with the Seller
It's great to be friendly.Be clear that your role is a buyer and he is a seller.Don't get into too many long discussions with the sellers as personality conflicts often cause judgments.
Remember, this is their home. You're no doubt excited about moving in, and if you didn't like the house you wouldn't have offered to buy it. But you'll make changes--everyone does. A casual statement about "ripping up that ugly carpet" might be hurtful enough to keep the seller from negotiating with you about repairs or other issues that crop up.

8. Don't Panic if the Appraisal Comes in Low
At least not at first. There are some things you (and your agent) can do to correct the problem. Study your options.

9. Don't Go It Alone
If you're working with an agent, it's the agent's duty to track many of the day to day details that involve the lender, the seller, or the seller's agent. Be sure your agent schedules a final walkthrough just before closing.

10. Don't Ignore Lender Requirements
Know what is expected of you and take care of it. For instance, a Certificate of Eligibility is required to move forward on a VA loan. That's something you must handle yourself. Answer lender questions and provide required paperwork as quickly as possible--moving into your new home depends on it.

10 Tips to green your home

It's all about the eaves
A roof should overhang walls by at least one foot. That keeps the sun off windows and exteriors, which helps the house stay cool in summer.It also protects siding from the weather, meaning you may be able to go twice as long between repaintings or re-sidings.


Reuse and remodel
The house you fix up will probably be much greener than anything you build in its place, no matter how cutting edge the new design or how much recycled material you use.

Sure, some old houses just can't be saved. But even a building with serious problems can give you plenty to work with.

You might, for example, be able to salvage the first floor and build around it. With a total teardown, all the stuff that went into building the old house, including the fossil fuels the original construction crew had to burn, goes to waste. (Construction material is one of the largest contributors to landfills.)

And, of course, you'll consume a lot of energy and materials putting up a new structure. If you choose to remodel, consider expanding up rather than out. That's an easy way to control your home's carbon footprint.

Size does matter
Fight the urge to go big and high. Not only is a smaller, well-proportioned house easier to heat and to cool, but you'll need to buy less furniture to feel at home in it. And isn't consuming less the whole point? Some specifics to remember:

A kitchen for normal cooking
kitchen that's less than 20 feet long with countertops less than 4 feet apart is more convenient unless you are serving 5 course meal everyday.

Bedrooms are mainly for beds
Beds should be located at the correct spot in bedrooms.Usually people dont sit much in bedroom as chairs in bedrooms have a way of just collecting the laundry or stuff.

More rooms can be better than one giant space
Instead of a high-ceilinged great room that combines a kitchen, dining room and living room, use the same square footage for a combination of rooms with standard ceilings. Divide them with french doors that you can open out when you want family togetherness.

The latest on renewable energy
The wind
Let's just say you probably won't be installing a wind turbine in your backyard anytime soon. Even if the homeowners association didn't come after you with torches and pitchforks, the truth is most places aren't breezy enough.

But in many areas it is possible to sign up with an electricity provider that gets its juice from renewable sources, often including wind. Your monthly bill may be about $10 higher, but you'll be doing your bit for the planet.

Go to the Department of Energy's Green Power Network to find your local provider.

The sun
A solar water-heating system can reduce the fossil fuel you'll need for showering and washing clothes. Before installing one, determine whether you have a sunny enough location to recoup the up-front costs, which can range from $3,000 to $8,000.

A solar electricity system can be pricey too. But if you're building, consider having your home pre-wired for it (for an extra $1,500 or so). Then you can install photovoltaic panels after they get cheaper (as they undoubtedly will).


Get a zone defense
Thermostats have become as smart as your iPod.

You can program them to respond to your use patterns, cutting your energy bills by nearly 10%, according to data from Energy Star, a government program that sets efficiency standards.

If you want to get fancy, you can divide your house into multiple climate zones so that you heat or cool only the rooms that need it.

In summer you can focus the air conditioning on bedrooms and spaces that get the most sun.


Insulate, insulate, insulate...
Upgrading the insulation in your home - including caulking and weather-stripping around windows and doors - can cut your heating bills by as much as 20%. (To learn how to do a home energy audit and find leaks, see energystar.gov.)

But you should also pay attention to design features that make insulation harder or easier.

Cathedral ceilings and flat roofs need extra attention
In homes with those features, your ceiling may sit directly under the roof, putting the room that much closer to the elements. You'll need to make sure these ceilings are especially well insulated and carefully vented.

Recessed lights can leak
After all, they basically require you to punch a lot of holes in your ceiling. If you install them under attics or roofs, make sure to use fixtures that are IC rated, which means you can safely pack insulation above and around them. These can cost $10 to $20 extra.

Dirt insulates
If the site where you intend to build your home is sloped, consider putting a portion of the structure underground. You'll get some natural protection against extremes of both heat and cold.

Ventilate and circulate
The key to keeping cool in the summer without cranking the air conditioning is to force warm air out of your house as quickly as possible and to have air constantly moving over your skin.

Vents in your attic space - combined with insulation in the ceiling below - keep the cool air downstairs from being warmed by the pocket of hot air above.

A whole-house attic fan, which pulls hot air from the rest of the house into a well-ventilated attic, can let you turn on the AC less often. (Just make sure you put an insulating cover over the unit in the winter.)

When building, place windows and doorways to maximize cross-ventilation so that breezes flow easily through rooms.


Be wise about windows
You can benefit from the most old-fashioned kind of solar power simply by putting windows in the right places.

In the northern part of the country, a house with most of its windows facing south will collect more light - and therefore more heat - in the winter. (You'll also be able to keep the lightbulbs off until late in the day.)

If you live in warmer climes, it's smart to have most of your windows facing north so your home doesn't bake all year.

In general you want fewer and smaller windows. That's because every window costs: Even the best of them will rot and leak over time. And even deluxe triple-glazed, argon-gas-filled windows will let out more of your home's heat than a wall would.

By the way, the super-insulated variety probably won't save enough to pay back the steep premium - maybe twice the price - over the up-to-code double-glazed kind.


Adding up the bill
If you're building from scratch, good design can get you a long way toward green. But for the most sustainable home, you'll also want to shell out some extra bucks for the right materials and appliances.

Those costs can add up fast. Remember that while green appliances will lower your energy bills and upkeep year after year, there's less direct payback from using recycled or salvaged woods and other materials.

20 Tips for selling home fast

Make a lasting first impression
The front door should be clean and presentable. If the doorbell is not working repair it.

Walls and woodwork
Faded walls and worn woodwork won’t sell your home. A small investment in paint or wallpaper will.

Let the sun shine in
Open the drapes and curtains. Clean the window and panes. Turn on the lights. House buyers are drawn to bright, cheerful interior.

Call the plumber and the electrician
Dripping water taps suggest worn out plumbing or careless maintenance. Clean those rust stained sinks. And make sure the drains are running free and clear. Loose electrical wires, broken sockets and fused out bulbs, flickering tube-lights are a no-no.

The devil’s in the details
Loose door knobs and handles. Creaky doors. Door latches not closing smoothly. Sticking drawers. Wobbly hinges. Jammed windows. They can all cost you a potential customer. Fix the defects and they make a sale.

Safety sells
Keep staircases and corridors clean and free of clutter. Cluttered areas are not only unattractive; they are dangerous as well.

Sell the whole home
Let prospects see the big picture. Make sure your attic is presentable, your garage is neat and your basement is organized. Give storeroom space a clean coat of paint.

Buyers love big closets and wall cupboards
And they look even bigger when they are clean, neat and well organized. Get rid of piles of clothes, old cartons and other clutter.

Bathrooms are big sellers.
Make bathrooms sparkle. Clean sinks and bowls. Recaulk where needed. Make sure towels and bathroom mats are freshly washed.

Wake up your bedrooms
Remove excess furniture. Use attractive and colourful bed linens and spreads. Open the drapes and curtains and let the light in. Remember, this is where your buyers spend one third of their lives.

SHOW AND SELL
It is now showtime! Here are ten suggestions to help you make the most of it.

Lighten up
Home buyers love the light. By day, let the sun shine in. By night, turn on all your lights, inside and outside. Don’t forget the accent and picture lights.

Avoid crowds
House hunters hate crowds. When your brokers shows your home, send the children away to the neighbours and take a long walk.

Silence is golden
When your home is being shown, turn off the radio, television, stereo or any other noise-producing source. It will make your agent’s job easier.

Keep pets out of sight
Make your pets disappear when your house is being shown. Your prospect may have different tastes in animal than you.

Stay in the background
Do not try to engage your prospects in conversation. Let your broker do his or her job and let your buyers inspect without interruption.

Be prepared
You never know when your consultant (agent) may need to show your home on a moment’s notice. So, make your beds and tidy up each morning, just in case.

No apologies necessary
Nobody’s perfect. There’s no need to apologies for the appearance of your house. Let your agent field any negative comment.

Sell the home period
Don’t try to sell your prospect your old furniture, appliances, lamps or anything besides your house. Save it for after the sale.

Leave it to professionals
Let your broker discuss selling price, terms, possession dates or other such details. They have been carefully trained and will negotiate on your behalf.

Show by appointment only
Your agents can schedule all showings including those from other real estate offices. All you need to do is to make sure your home is ready to show.

Home buying process

There are so many things to consider when buying a house.Buying a house is like investing in business. You should know the steps and procedure for it. The role that you and other parties play in the process.

1.Discuss home buying wants and needs with a selected good agent.

2.Gather the information for loan pre-approval process.

3.Get pre-approved by lender.

4.Fax the lender pre-approval letter to your real estate agent.

5.Search and view homes together with agent.

6.Once you and agent found the house you want,write a sales and purchase agreement.

7.It takes 30-60 days to close depending on the type of financing.

8.Once an offer is presented and all terms of the contract are accepted by both buyer and seller a structural inspection will be performed on the house.

9.The structural inspection report is in and any repairs or credits as a result of the inspection are negotiated with the seller.

10.The inspection contingency is waived.

11.Appraisal, credit and title ordered.

12.Submit the loan for underwritting

13.Loan is credit approved.

14.Appraisal report is in.

15.Papers delivered to escrow.

16.Escrow obtains signatures on closing papers.

17.Final file reviewed.

18.Finally,Loan Closed.

19.Welcome to your home sweet home~

10 Tips for first time home buyer

1. Be picky but be realistic. There is no 100% perfect home.

2. Do your homework . Decide specifically what features you want in a home and which are most important to you.A wide spacious living room?masterbed room?or others.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and your closing costs.Disscuss with a trusted financial advisor or loan officer.

4. Don't wait to get a loan. Talk to a lender and get pre-qualified for a mortgage before you
start looking.Select a good agent.Good agent will help in this.

5. Get opinions but not too many. Be confidence to yourself. Select one or two people to turn to if you feel you need a second opinion.

6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?

7. Think long-term. Are you going to stay in this house for a short period of time or for long term wise?It relates to Mortage terms.

8. Don't let yourself be "house poor." Buy a house which you can afford. So you got enough money for furniture,decoration and home upgrades.

9. Be matured. Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.

10. Get assistance. Make sure that you are represented by a licensed REALTOR as a buyer's agent. Unlike a listing agent, whose first duty is to the seller, a buyer's agent is working only for you. And most often, buyer's reps are paid out of the seller's commission payment.

10 Tips and upgrades to help sell your home

1. Electrical

Homes built during the 60's or before that often do not have enough electricity current to run all the electronic gadgets. Today's homes typically have 200-amp service, so keep your home competitive by upgrading to at least 100 amp.

2. Copper pipes

Upgrading pipes should be a major priority for sellers of older homes. Copper pipes wont corrode as severe as galvanized pipe over time.

3. Furnace

Furnaces usually last from 12 to 14 years. Although this upgrade is relatively expensive, you still have to fix it if it has passed its expiration date.

4. Kitchen cabinets

Refurbishing old cabinets can quickly pull your kitchen into the 21st century. Replace with stainless steel or nickel knobs, pulls and hinges.Cleaning, sanding, staining, painting and replacing veneer can make the wood become new again.

5. Kitchen countertops

The saying "all real estate is local" is true right down to the kitchen countertops. In some neighborhoods, laminate is still acceptable. In others, you'll need to go with granite or Corian. Check out your neighbors' kitchens to find out what is standard on your block.

6. Roof

Some buyers concerned about the age of a home's roof. inspect the roofs if it is more than ten years old. If it makes the grade, include the inspection report in your buyer's packet. If you must replace, cut costs by choosing 20-year material over 30-year material.

7. Siding

A dated exterior can be fatal to your home's curbside appeal. Sometimes, a fresh coat of paint is all you need to cover a multitude of sins. In other cases, you may need to replace the siding altogether.

8. Water heater

Water heaters usuallt last about a decade before running out of steam. Installing a high-efficiency water heater can cut energy use by between 10% and 50%, making your home more attractive to cost-conscious buyers.Some house doesnt have water heater.Add on in bathrooms.

9. Termite inspection

Termites are tiny insects that love to feast on wood,such as woods of cabinets,sides of windows etc.Termite inspections are relatively cheap and are especially important in older homes.

10. Windows

Single-pane windows have gone the way of lava lamps and beanbag chairs, so be sure to upgrade those aluminum slider windows. Not only will your home look more enticing, but you'll also trim heating and cooling bills by 25%.