When is the Right Time to Prepare my House FOR SALE?

One question I have been asked recently is When is the right time to prepare my house For Sale?

The answer to this question is similar to the answer to "When is the right time to save money?" Begin as soon as possible.

What I mean by this is you should always have a sense of how much your home is worth, not just the appraised value determined by a  certified appraiser and used by your lender to determine what percent of your home you own versus owe; nor just the assessed value determined by your local tax authority (usually your town) to determine your home's tax rate; but also the Comparative Market Value,determined by a Real Estate Professional who compares the features of your home with those of similar houses that have sold recently (usually within the last 6 months) and prepares a Comparative Market Analysis or CMA for you.

To get a CMA, Contact your favorite Real Estate Agent and ask him or her to help you determine the price you should be able to get if you were to list your house today. Then take a look at your house and ask your self the following questions:
* What is the general condition of your home?
* What major repairs do you anticipate within the next few years? Are you on year 18 of a 20 year roof? Is your siding in good condition? Are there major cracks in your foundation?
* Does your Kitchen have matching appliances that are in reasonably good condition? Are your counter tops and cabinets in good shape? How do your bathrooms look? What repairs might they need?
* How is your curb appeal and what is your yard like? Would it benefit from some minor landscaping changes such as some established flower beds or some mature trees? Do you have trees scraping your house that really should be cut back or removed?

By determining which of these features are in great condition, good condition, and poor condition, you can set a priority list of items to work on over however much time you plan to live in your home, whether it is another twenty years or twenty months. This will also allow you to budget your time and funds appropriately for your lifestyle.

If you live in New Hampshire, click here to begin the process of getting a Market Analysis of your home.

Gearing up for Closing

Well, what a roller coaster few weeks! After the week with two home inspections in two days, the negotiations for dealing with Radon issues, and getting myself off crutches, I was ready for some quieter moments. I even went away for a vacation... with my electronic leash (i.e. smart phone) attached.

No significant issues arose while I was away, save that my up-coming closing almost got derailed. YIKES!

Some background: My clients are purchasing a short-sale property. What a misnomer! Really these should be called ridiculously long, with insane amounts of paperwork, sales. My clients had submitted an offer which was accepted by the two companies that held liens on the property. We completed home inspection, acknowledged the radon issues, and continued to prepare for closing the transaction. However, there was one small complication. The buyers lender had one new detail they requested from the seller's lien holders: an actual signature on the approval documents. One might think that having a bank case manager sign a document that he or she has already written and submitted would be easy. It is not. Instead, it took two weeks, many phone calls (my appreciation to the listing agent and to the mortgage officer, David Duplessis of Equity America Mortgage), and pleading in order to get a signature on the primary lien. The secondary lien holder never acknowledged any portion of this process.

Once the title company's attorney issued a letter to the lender that he would be able to issue title insurance, the lender agreed to let everything proceed toward the closing table. My clients are super excited about owning their first home together, moving in, and beginning the next phase of their lives.  Now if only I were sure about what to get them as a closing gift :-).

Have a great few weeks! See you all soon.