Top 7 Tips to Get the Most Value Out of Your Home Appraisal

Home sellers and owners refinancing their mortgages often have to endure a unique ordeal: the home appraisal. If you’re selling, you want the highest appraisal value possible to make sure the sale goes through. If you’re refinancing you’re probably cashing out equity. Either way, each dollar of appraised value is potentially a dollar in your pocket.

It’s never a good idea to try and fool the appraiser – most of them have seen every trick in the book – but there are simple things you can do to squeeze some extra value or equity out of your home.

1. Make the place presentable.

You don’t have to be able to eat off the floors – the house doesn’t even have to be as spotless as it would be for an open house. But impressions matter. Strewn laundry, dirty dishes, full wastebaskets, all can contribute to the wrong kind of impression.

2. Fix or replace broken windows, railings, steps, and other hazards.

Your chances of being able to avoid this, even if the buyer doesn’t care, are slim to none now that the mortgage lender wants an appraisal. (And zero if your buyer is going through the FHA.) So take care of it beforehand. And any appliances that are staying with the house, if you’re selling? Those have to work, too.

3. Have your real estate agent present during the inspection.

You can’t usually fool an appraiser – and your agent can’t either. But your agent is trained better to think on his feet at times like these, and is more likely to address nagging concerns of the appraiser’s than you are. Sellers, your agent works for you – put him to work during the appraisal.

4. Love what you’ve done with the place?

Hardwood floors four years ago? Bathroom remodeled two and a half years ago? Lawn re-sodded last summer? Bring these to the appraiser’s attention. Don’t expect your appraised value to go up by the amount you invested, but don’t be shy about pointing out what you’ve done.

5. Control your pets and kids.

The less stressful the appraiser’s inspection, the better off you’ll both be. An appraiser worried about being attacked or who is constantly distracted isn’t as likely to come through with the highest value.

6. Control the urge to do the appraiser’s job for him.

You will often hear that you should suggest homes sold in the area recently the appraiser can compare yours to. In truth, the appraiser considers that his job, and is more likely to resent it than be grateful. And he may have a point. You – and your agent – are interested in getting the highest value possible. The appraiser knows that, and may actually discount a comparable sale you come up with.

That being said, information and suggestions offered will often be graciously received. Just don’t overdo it. Understand where the appraiser is coming from – he understands where you’re coming from.

7. Cooperate.

A lot of people don’t like a stranger wandering around their home sizing it up. But it’s for your own good. And a friendly, cooperative owner makes a much more favorable impression than a contentious one.

When it’s time to order your appraisal, it’s normal to feel a bit worried or intimidated. However, if you’ve done your homework as to the value of your home, you should rest easy. Follow these simple suggestions, and when the appraisal is in, you will surely be happy!

Sell Your Own Home Tips

Home values these past sixty years has steadily risen. Everyone (even those who should have known better) believed that the rise would continue forever and the entire realty industry was established upon that concept. So, the worst takes place after hyper-inflation of house values starts to tank. That bursting of the real estate bubble has caused a re-evaluation how one is to interact or should work with the real estate industry.

Sell Your Own Home Without Agents
Realtors make a lot of sense when home values are steadily increasing. Surrendering six percent commission to real estate agents was not an issue when someone was likely to make a significant profit on their property sale. However, we live in sadder, poorer time, a real estate agent becomes an issue as many people may actually be selling their home at a lost.

Sell Your Own Home Legal Assistance
Realize that title companies and escrow companies will be providing a massive amount of assistance in selling your own home. Even so, for legal paperwork inquire at a form and contract provider like We The People for a retailer or LegalZoom for someone online. A free source of information to answer basic questions if used sparingly and politely is a title company. Should more unique issues arise, seek legal help from real estate attorneys. Many will have flat rates for those doing a FSBO (For Sale By Owner).

Sell Your Own Home Marketing
Put the advertisements of the house on every free Internet classified service you are able to discover. Web sites such as Craigslist, USFreeads, and Backpage, do not overlook national services as they may provide you with an investor looking at your area. Position signage about the property, thus notifying every passerby that the home is purchasable. Advertise in newspaper publishers like the Penny Saver or Thrifty Nickel, they will be more inexpensive than the general, local papers. Lastly, construct a list of a hundred people you are able to contact who may come across other people who are looking to buy a home. Your hairdresser, insurance broker, instructors, pastors, everybody who is continually in contact with or in front of people, make sure they know you’re selling a home.

Home Warranty Tips – Find Out Why Getting Coverage Is Important

One question that every homeowner is faced with when buying a new home is whether or not they should get home warranty coverage. Well, there are plenty of things that factor into making that decision, but most people would agree that having coverage is well worth the cost.

For those of you new to warranties, basically it’s a type of “insurance” the provides coverage for major systems and appliances in your home. For example, lets just say you have a built-in dishwasher that is causing you problems. You can either pay to get it fixed, or depending on the condition of it, you may end up getting a new one. But having warranty coverage enables you to get it fixed or replaced at a fraction of the cost.

Also, most providers have a network of companies they are affiliated with who provides consumers with the replacement parts or repairs. So it eliminates the hassle of trying to find a reputable repair company. It may not seem like a big deal, but every day people spend countless of hours trying to find a company that has good reviews and have a decent price. And having warranty coverage provides you with top notch contractors and at a low price.

As for the cost of coverage, well that usually falls within the range of about $30 to $100 a month depending on the type of coverage you need. Now, for some new home buyers, adding another bill to the list of bills they already have may seem unnecessary, but when you think about how much it cost to repair certain things around your home, you quickly realize that having warranty coverage is the best option.

This is an important aspect to keep in mind, because the last thing you would want to do is have to pay a huge bill to get something repaired and have to dip into your savings to do so.

And lastly, while having coverage is important, as I stated earlier, some people may not need it. Those of you with mostly modern appliances on your home, most of the appliances may be covered under the manufacturer warranty already. But if you have an older home with outdated appliances, you definitely want to at least contact some warranty companies to see how much it would cost you for coverage.

If you want even more information about home warranty coverage and get some rate quotes, be sure to visit https://www.warrantysquad.com/home-warranty/ today!

5 Tips For Buying A Foreclosed Home

Buying foreclosed homes have often been considered a sure-shot way of earning a hefty profit. You can make a healthy profit on these homes too, but only if you keep some important things in mind. Here, we discuss five tips.

1. Check If Your Finances Are Healthy

First, go over your finances. Check your credit score and break out your savings account to see how much you can invest from your side and how much loan you would have to take from the bank. Also take into account the amount you’ll have to spend on renovating the house after buying it.

Investing in a property outside of your budget may end up in your collateral getting foreclosed as well!

2. Visit The Foreclosed Property Yourself

You should personally take a look at the foreclosed property before making your decision. There are several things to consider while visiting. You need to evaluate the locality’s or the area’s prevailing prices and compare it with the bank’s offering price. Also, take into account other factors like the period the house sat vacant, any damages and cracks in the house, and the general landscape around the house.

3. Get A Home Inspection Done

Despite your own personal evaluation of the property, getting a home inspection done by a professional is a must. Most often, banks won’t offer you a mortgage on foreclosed homes, unless you have the home inspection report. Plenty of times cases of vandalism and theft occur after a property has been foreclosed. In such cases, getting the home inspection done will prevent further damage.

4. Brush Up On Property Law And Get Legal Help

Property laws have a lot of terms and conditions that can trip you over unless you are thorough with them. You don’t want to deal with unnecessary court proceedings just because you unknowingly flouted some state law. Relying completely on your real estate agent about legal matters may not be the wisest thing to do, either. Instead, get legal counsel from a property lawyer.

5. Judge The Market And Make The Appropriate Bid

When you have finally zeroed in on a couple of houses, judge the present market situation. If houses in that neighborhood are selling like hot cakes, you need to make a quick and smart bid. Assuming that a property isn’t in demand because of its foreclosed status would be a big mistake on your part. Take the opportunity to invest in a good foreclosed home and reap the benefits.

Tips on Marketing a Luxury Home

When thinking of luxury real estate you can expect to pay more than five hundred thousand dollars for a home. With the economic recession behind us, the market for luxury homes is booming once again. The market is now getting the benefit of the rising income levels of people along with their desire to own a lavish, grand residential space. It is just as easy to sell a luxury home as it is one that is affordable to those without a lavish income. The market will basically targets the individuals with high net worth that also has big cash reserves and is looking for high quality living and potential investment options. These luxury properties are usually found in an up-market locality where the residents can enjoy a lifestyle that is world-class and has ultra-modern amenities.

One thing to note is that the prices of a luxury home can be very volatile. At one time, they can be at their peak when the demand is at the highest point and then it can drop substantially where you have no buyers in the market for luxury real estate.

There are many different ways in which you can market a luxury home. One way that is very important is that you will need to advertise aggressively. You should use mediums of advertising like radio, the internet, newspapers, and television effectively to attract potential buyers. You can also use billboard and pamphlets as a means of advertising in order to draw the attention of potential buyers. In your advertisements, make sure that you highlight the specifications, layout of the home, the location, and the facilities to generate more curiosity.

You can also organize seminars and exhibitions where you can showcase the luxury properties that are available to the buyers. Ask the sales representatives to interact with them personally and be able to solve your buyer’s queries. Convince them how investing in the properties will be in the long term advantageous to them.

Make sure that you can assure your potential buyers that they will have legal clearance on the homes they are considering purchasing. No buyer wants to spend millions, or even hundreds of thousands of dollars on a luxury home only to find that there is some form of legal trouble related to the property.

You can also hire a brand ambassador, who could be a celebrity that works in some of your commercials that is helping to promote the luxury properties you are trying to find a potential buyer for. Make sure you promote the luxury home throughout the world as a potential buyer can come from anywhere.