Sara Brothers - Competitive Edge Real Estate Services



Posted by Sara Brothers on 1/14/2018

A home inspection represents a key stage during the homebuying journey. This inspection enables you to examine a house with a professional property inspector. And if you discover minor or major property issues, you can ask a seller to perform repairs. Or, you may choose to reduce your initial home offer or rescind your proposal.

Ultimately, it pays to be diligent during a home inspection. If you perform an in-depth assessment of a house, you can understand whether this residence is the right choice.

On the other hand, there may be property problems that you identify during a home inspection that you won't ask a seller to repair. These issues may include:

1. Cosmetic Problems

If you ask a home seller to perform cosmetic repairs, the seller may choose to walk away from your homebuying proposal. And if this happens, you could lose your dream house to a rival homebuyer.

There is no need to jeopardize a home sale due to a cracked floor tile, a deck that needs to be stained or other cosmetic problems. Instead, plan to perform cosmetic repairs on your own.

In addition, keep in mind that many cosmetic issues are quick and easy to fix and won't require you to break your budget. This means you likely will have no trouble completing myriad cosmetic repairs after you close on a home.

2. Loose Fixtures

A loose doorknob or light fixture can be frustrating. And as you walk through a house during an inspection, you may feel like repairing a loose fixture is a top priority.

Loose fixtures generally require simple hand tools to repair, and problems with these fixtures frequently can be solved in just minutes. As such, you may want to focus your attention on bigger and potentially more expensive home repairs as you determine which property repair requests to submit to a seller.

Of course, if a loose fixture creates a safety hazard, you should not hesitate to ask the seller to fix this problem. Because if a hazardous fixture remains in place, it may put your health and safety at risk.

3.Non-Functional Light Switch

A non-functional light switch may raise red flags as you inspect a house. But in many instances, this problem is minor.

If you notice a non-functional light switch during a home inspection, there usually is no need to worry. In fact, a property inspector typically can tell you whether a home's electrical system is safe to use and up to code.

For homebuyers who are uncertain about how to proceed with a residence following an inspection, it pays to consult with a real estate agent. This housing market professional can offer expert tips to help you make informed decisions at each stage of the homebuying journey.

Consider your potential property repair requests following a home inspection. By doing so, you can prioritize major property repairs and increase the likelihood that you and the seller can find common ground as you work toward finalizing a purchase agreement.




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Posted by Sara Brothers on 1/7/2018

A home showing will help you gain the insights you need to make an informed decision about a house purchase. At the same time, you may have many concerns about whether a residence is right for you, even after you complete a home showing.

Ultimately, there are many questions to consider after you finish a house showing to ensure you can make the right choice about a residence, and these include:

1. How did I feel as I walked through a home?

Oftentimes, homebuyers try to envision what life may be like if they purchase a residence. As these buyers walk through a house during a showing, it sometimes can be simple to imagine the possibilities if you buy this residence. On the other hand, it may be tough to envision a future in a particular home if a house fails to match or exceed your expectations.

Think about how you felt as you explored each room in a house during a showing. If you left a home showing with a good feeling about a residence, it may be beneficial to submit an offer or set up a follow-up showing. Conversely, if a home showing left you feeling uncomfortable with a residence, you may want to continue your search for your dream house.

2. Are there any major issues with a home?

Generally, it is a good idea to ask lots of questions about a house during a showing. This will enable you to learn about the condition of a home and determine whether major repairs are necessary.

A home in need of significant upgrades offers opportunities for homebuyers who are looking for a "fixer-upper" house. In fact, if you submit an offer on a fixer-upper home, you may be able to perform assorted repairs to enhance a house's condition and value.

Comparatively, if you are unwilling to perform substantial home upgrades, there is no need to worry. You can always forego submitting an offer on a house after a showing, and by doing so, continue your pursuit for your ideal home.

3. Is a home a viable long-term investment?

As a homebuyer, it is important to find a house that will serve you well both now and in the future. Because if you fail to do so, you risk purchasing a house that will only decline in value in the years to come.

If you feel that a home is a viable long-term investment following a showing, you may want to submit an offer to acquire this residence. Then, if a seller accepts your offer, you can conduct a home inspection and move forward in the homebuying process.

Lastly, as you consider what to do after a home showing, you may want to collaborate with a real estate agent. This housing market professional can help you evaluate the pros and cons of submitting an offer on a particular residence. Perhaps best of all, a real estate agent will offer expert tips to ensure you can find your dream residence in no time at all.




Tags: Buying a home   showing  
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Posted by Sara Brothers on 12/31/2017

When you’re buying a home, there’s a lot to think about. Your finances probably have the biggest impact in the entire home search process. The amount of a down payment you have and the amount of loan you’re approved for help decide what you can buy. 


When you hear about closing costs, what do they entail? How much will you need to cover these costs? Many people get to the closing table for their home purchase and feel unprepared. You’ll need a certain amount of cash on hand when you finally close on a home. Learn more about closing costs, so that you understand everything that you need to know about your home purchase.    


Closing costs are spelled out pretty plainly in just about every kind of real estate contract. These costs are the fees associated with the title companies, attorney, banks, lenders and everyone else who is involved in the purchase of a home. The closing table is also the time when you provide your sizable down payment. The closing costs that are being referred to are considered a separate expense independent of the closing costs.


Closing Costs Vary


Closing costs can range from anywhere between 2 and 8 percent of the purchase price of the home. You can’t really “choose” what’s included in the closing, so you’ll need to have an idea of how much money you’ll need to write a check for. Lenders can give you an estimate of about how much closing costs will be. 


Negotiations 


Certain things like the realtor’s commission fees can be negotiated and can be paid for by the buyer or the seller. The good news is that you can roll your closing fees in with your mortgage in some cases. You may also be able to negotiate with your lender to pay the closing costs for you in exchange for a higher interest rate. 


What’s Included In Closing Costs?


Depending upon where and what type of home you’re buying, what the closing costs actually cover varies. Here’s just some of the things that closing costs cover:


  • Appraisal
  • Escrow fees
  • Credit reports
  • Title search
  • Title exam fee
  • Survey fee
  • Courier fee (Most transactions are done electronically, but in some cases this may be necessary)
  • Title insurance
  • Owner’s title insurance
  • Natural hazards disclosure
  • Homeowner’s insurance (Your first year of insurance is often paid at closing)
  • Buyer’s attorney fee
  • Lender’s attorney fee
  • Transfer taxes
  • Recording fees
  • Processing fees
  • Underwriting fee
  • Pre-paid interest
  • Pest inspections
  • Homeowner's association transfer fees
  • Special assessments


These fees vary widely by state and the type of property that you’re purchasing. Not every fee is required, but the above is just a list of many of the possible fees that could be included in on the closing of the home you choose.





Posted by Sara Brothers on 12/24/2017

Like it or not, selling your home can be a tumultuous time. As such, you may experience a wide range of emotions after you add your house to the real estate market.

Some of the most common feelings that home sellers may experience include:

1. Excitement

Selling your home can be exciting. In fact, the home selling process represents a time of change, one that enables you to move on to bigger and better things.

For home sellers, the sheer volume of home selling options may excite you as well. At this point, you'll need to consider the asking price for your home, whether to complete various home improvement projects and other home selling essentials. Plus, you'll need to consider where you'll go after you sell your residence.

With an experienced real estate agent at your disposal, you should have no trouble staying excited throughout the home selling process. Your real estate agent will ensure that you have a plan in place to sell your house and relocate after it sells.

Furthermore, your real estate agent will keep you informed about home showings, offers on your residence and much more. He or she will do everything possible to stir up interest in your home and create plenty of excitement about your residence among potential homebuyers too.

2. Sadness

When the time comes to finally leave your home, it can be difficult to relocate.

Sadness is common among home sellers, particularly as the home selling process progresses. For example, you may feel sad as you look back on all of the great memories of your house. And after you receive an offer on your residence, you may start to realize that your time in your current residence is running short.

If you ever feel sad during the home selling journey, reach out to your real estate agent. He or she is available to support you through the ups and downs of the home selling journey. Also, your real estate agent understands the challenges associated with selling a house and is happy to support you in any way possible.

3. Elation

Elation arrives on the day that you sell your house. At this time, a homebuyer will be ready to purchase your residence, and you and the homebuyer have agreed to terms. Now, you just need to finish the final paperwork, and you will complete the home selling journey.

Your real estate agent understands that the home selling journey may seem endless at times. However, this professional will offer expert recommendations and suggestions to ensure you can get the best results possible.

In addition, your real estate agent wants the home selling process to be seamless. To accomplish this goal, he or she will allocate the necessary time and resources to promote your residence to potential homebuyers. By doing so, your real estate agent will make it simple to accelerate the homebuying journey.

Employ a real estate agent to help you sell your house, and you can speed up the process of selling your house.




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Posted by Sara Brothers on 12/17/2017

One of the best things that you can add to your home is a solar power system. These can be costly but they save you a lot in the long term on utility costs. While government programs have scaled back for these energy saving improvements over the years, there’s still many benefits to them. You can even get a loan specifically for installing solar power to your home.


Before you take the leap, you’ll want to know for sure if solar will really add value to your home. Of course, you want a return on your investment. 


The good news is that there’s no doubt about it that installing solar panels does definitely add value to your home. There’s one caveat to the value: You should own your   solar power system as opposed to leasing it through a solar company or a power purchase agreement. 


Homes that have solar panels sell for more money simply because they offer a definite return benefit to the future owner. 


Does A Leased Solar System Offer The Same Benefits?


Owning your solar system will save you more money in the long run than leasing your system. When you own a solar power system, the FHA requires that the total value of your solar system be added to the total value of your home when you go to sell it. If you lease the panels, this value cannot be added to the home during an assessment.   


If you have financed the system, the rules may be a bit more lenient. While you technically don’t own the system, you are paying towards owning the system yourself. Each lender will have their own standards for this, so check with them for specifics, as your home must meet certain standards and eligibility requirements. 


Securing A Mortgage With A Leased Solar System


If someone is looking to secure a mortgage with a leased or currently unowned solar energy system, there are a few hurdles that you might face through the process. These problems include:


Solar lease payments must be included in the buyer’s debt-to-income ratio. 

The panel owners must have a third-party insurance to cover damage to the property that’s being mortgaged in the event of malfunction or faulty installation of the panels.         


Solar Panels Are An Overall Great Investment


It’s really hard to go wrong if you purchase or finance your solar panel system. As long as you own the system, value will be added to your home. You’ll also save on your own utility bills. Your home will undoubtedly become more attractive to buyers if you decide to sell your home in the future.




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