Scarlett Ridge Realty

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Month: October 2016

Questions to Ask a Realtor When Buying a House

 

Questions to Ask a Realtor When Buying a House

Every one of us wants to have own houses where we could live comfortably and freely. There are several fully furnished homes that are made with great quality and are enveloped with elegance, which will never be a waste of money. In order to find the best homes, realtors are of big help. They will take care of everything which will not let you worry about anything. They will be the ones to help you find a house that you can buy and all their suggestions will ever disappoint you. However, even if you have the help of realtors, you still have to ask questions regarding the house you are planning to buy.

Investing your money to a great property can help add your net worth. Moreover, working with a realtor will help you find the best house because they are familiar with all the properties that can be found in your neighborhood. If you are planning to buy a house, here are some of the questions that you should ask to realtors when you decide to buy a house.

  • Ask the realtor regarding the date of sale of the house in the public. In this way, you will be able to determine if you can still negotiate about the price of the house. When the house is being for sale for more than 60 days, you can negotiate with the realtor regarding its price.

  • Ask the realtor if which one is better, buying the house or leasing it. Asking this question can help you think if you are prepared to buy your dream home. You are giving yourself an option that will help your situation right now. If you have the money, you can buy it easily but if you are someone who wants to know the options, ask this question and the realtor will help you understand.

  • Ask the realtor regarding the safety of the neighborhood where the house is being situated. It always feels secured when the neighborhood that you are living does not have a high rate for crimes. For safety purposes, you can ask this to a realtor who is familiar with the neighborhood. This will also avoid you from the dangers of living in an unfamiliar neighborhood.

  • Ask the realtor about the situation of the house. We always want to have a home where everything is under control or would not cause any money to spend because of maintenance. When buying the house, always ask the condition of the house. You can ask regarding the age of the roof. Also, the situation of the house can be a big help in your decision making when it comes to whether or not you will buy a house. Do not buy a house, which has worst conditions because you will spend a big amount of money for its maintenance only.

  • Ask the realtor regarding the nearby properties that are just within your reach. Asking this, you will be able to know if there are schools or other establishments that are just right around the corner which everyone are always asking. This will help you know if you are just within the properties and areas that you need.

  • Ask the realtor the reason why the owner is selling the property. There are times that a realtor does not disclose the reasons; however, there are some that would provide the reason why the house is being sold. Knowing the reason, you will be able to decide if you are going to buy the house or not by depending on the owner’s reason as to why he is selling it.

  • Ask the realtor if how long did the past owners have lived on the property. Knowing the span of time that the previous owners have utilized the house will determine you as to what reasons that made them stay long in the property or how short they stayed.

  • Ask the realtor about the facilities inside the house. From the doors to the rooms, it is always the best idea them to avoid you from spending money for the maintenance itself. Knowing the conditions of the facilities, you can decide either to buy it or not. Having broken facilities will make your regret once you buy the homes.

  • Ask the realtor if you need an attorney for all the transactions when you buy a house. This may depend on the state since each state is different. There are some scenarios that an attorney is not needed for the transactions. On the other hand, there are some who have their own real estate lawyers who will manage the offers and also the closing.

  • Ask the realtor about his expertise. When it comes to properties, not everyone are knowledgeable which is why, when you are working with a realtor, make sure to ask his specialization in order for you to identify if he or she is capable of doing the job for you and will not only work because of his willingness but because of his expertise in the field. Also, the realtor should have the experience, great feedbacks from other clients and also the knowledge that he has when it comes to his expertise.

  • Ask the realtor if the house has a garage. People who have vehicles, the garage are very important because it is the place, where they can park their vehicles. Asking the realtor about this will help you solve your problem when it comes to your parking space.

Asking the realtor some questions when you buy a house is a good help in your decision-making. Also, asking it beforehand will stop you from regretting in the end. Buying a house is easy if you have the money. However, even though how a great a house is, it still have its flaws that you should be aware of that is why, a realtor is always ready to provide you the answers to all your questions regarding the house you are planning to buy for you to be well-informed.

Call Shannon Ioli-Scarlett at 480 695 3562

Questions to Ask a Realtor When Selling Your Home

Questions to Ask a Realtor When Selling Your Home

If you think purchasing a home is hard, try selling it your own. Usually, buying provide you due advantage during the negotiations, but selling can be much more challenging. In this industry, the seller usually takes the brunt of looking for the right buyer and handling the transfer of documents while acquiring a lucrative deal as planned. With too much of your time consumed on your work or business or an impending transfer, having time to sell your real estate property in quick yet productive way can be done through the help of a real estate agent. With hundreds of professionals and expert agents available today, looking for one who can provide you what you really need can still be daunting. However, this dilemma can possibly be used into your advantage simply by asking the right questions to them. So when you plan to seller your home and looking for a trustworthy and reliable realtor, here are some of the most important questions to ask:

  • Are you an accredited realtor in the state where the property sale will be done? For how long and how many deals you have successfully done in the past years? – Keep in mind that it is crucial to check the credentials regarding the state accreditations, reliable sources and references of the real estate agent. One should be the accreditation by the NAR (National Association of Realtors) that could guarantee you dealing with a real expert. Just like everything else, the experience of the real estate agent completely matters, especially when it comes to the facilitating of real estate sales. Even though it doesn’t necessarily mean that the more established and successful realtors are better than the new ones, the experience of a realtor can help you gauge turnaround time and efficiency for the property sales. Of course, the sum of the realtor’s successful deal with complete references can also help you in verifying if the real estate agent can really live up to your demands and expectations as well as of the present real estate market.
  • Do you have the ability to maintain my property’s integrity during the selling process? – Another very crucial question to ask is if the real estate agent has the ability to maintain your property’s integrity. When selling your home, keep in mind that you realtor needs to be experienced enough when communicating about your property’s faults. In other words, the real estate agent should provide you information about your properties drawback and can suggest you possible remedies. This can help them to market your property and for you to acquire a much efficient sell. In terms of marketing, your need to choose a real estate is capable of marketing your property if a lot of ways. This should also be asked to your realtor. A talented real estate agent will have various ways in which your property will be made visible on marketplace.
  • Do your operate real estate business locally? If yes, how do you plan your sales and marketing? – If you’re selling a property in one state, it would be a complete waste of money if your spend effort and time on a realtor on a different state. A real estate agent that is locally operating usually has enough information about the most current real estate demands, demographics, and the local marketing solutions in order to amplify the sale. Be sure to ask the realtor who he/she plans to sell your property. Dig very deep into his strategies and tactics, home staging, and many other initiatives that can hasten the pace of sale process.
  • What are your real estate selling methods? – There are a lot of way to sell your home through the aid of a real estate agent – auctions, tender agreement, POA, EOI, or direct selling (e.g. from real estate agent to buyer). Unless you’ll be selling your property completely, carefully ask if the upgrades, renovations, or repairs are necessary.
  • Do you work as a team or alone? If by team, what are your communication methods? – No matter how adept a real estate agent is in dealing with the real estate market, he should never work along. There are tons of workloads that await the agent. Whether the realtor is working virtual or actual assistant, keep in mind that a real estate agent should always have someone that does the one marketing, paper transaction, and many other data management solutions, separately. This provide the real estate agent more focus on his/her real competencies such as the renovations, negotiations, and arranging an open house. Also keep in mind what their communication methods are and how frequent they communicate. Look for a real estate agent that can provide you an open communication line, giving your constant updates.
  • How much and do you charge your commission upon a successful sale? – This is the last question that needs to be answered – the Realtor’s fees. Probably, this is the most confusing part in the entire selling process. However, knowing how much a realtor should only charge you can make it easy. Most real estate agents charge a commission fee for their service, which is normally 3% to 6% of the sales price. This can either be a huge or small amount depending on the final selling price of your property. In recent years, the agents have become very flexible and the commission free can now be negotiated. Regardless of agreement, the fee needs not to be paid until the closing date, after your property has been sold. In addition, the commission can also vary from one state to another. If can be fixed or based to tiered percentages. Be careful and always analyze the impact before you sign an agreement. Choose the one that can provide you great value for you property.

Without a doubt, selling a real estate property can be a very overwhelming experience. Having a reliable and capable really as your ally in this quest is the best decision you can make. By asking the questions mentioned above, you can ensure to find the best real estate agent to entrust your property, way to get a fast sale, and gain more value on your property.

Call Shannon Ioli-Scarlett at 480 695 3562

9 Reasons to Get a Free Home Appraisal from a Professional Realtor

9 Reasons to Get a Free Home Appraisal from a Professional Realtor

There are many reasons why you as a homeowner should get a free home appraisal from a realtor because in selling your home, there’s a need to accurately disclose how much is its living area to determine its value.

Whether you’re selling or buying a home, you should always consider getting a free home appraisal from a professional realtor. As a seller, owner, or buyer, you should also understand what home appraisal is, how its process works and how a professional appraiser can determine the value of a home.

What is Home Appraisal?

A home appraisal is an unbiased opinion about a home’s value given by a professional. Home appraisals are always used in sale and purchase transactions. They are also commonly used for refinance transactions. In sale and purchase transactions, appraisals are used to determine if the contact price of the home is appropriate to its condition, features, and location. In refinance, an appraisal will assure the lender that it will not be handling the borrower even more money than the home’s worth.

How do Home Appraisals work?

Home appraisals vary in every state, but here are the 3 major parts of home appraisal:

  1. Inspection – A professional appraiser or realtor will come to the property and inspects it in order to determine fair market value.

  2. Comparables – The professional realtor will research similar homes in the area and compares latest sales for the market value.

  3. Final Appraisal Report – Through the data gathered by the realtor from his inspection and comparables research, he will be making a final appraisal report.

Why do you need an Appraisal for a Home Loan?

A professional realtor helps you in establishing the market value of your property. This is likely to be the sales price that it will have if it’s offered in a competitive and open real estate market. Home appraisals protect the client as well as the lender in order for them not to overpay the home.

9 Reasons why you need a Professional Realtor for your Free Home Appraisal

  1. They will show you the difference between unfinished and finished area. Measurements between unfinished and finished areas are very important to be segregated and understood. Finished areas are the areas that are cooled and heated and are in a habitable condition while the unfinished areas are like basements having concrete walls and floors but are not heated nor cooled and not ideal to live in. There are also homes that have basements with low ceilings and dirty floors but these areas are not part of the calculations.

  2. They know where to take measurements. Correct measurements are normally taken from the homes’ outside walls and on all its levels. This is can be difficult if the home to be measured has a second level and if it’s 1.5 story home. However, measurements are usually taken from the inside on its second level. Wall thickness will just be added back. Floor plans not meant for appraisal purposes will have to use the interior measurements taken from the outside measurements, and there will be more of the square footage to be accounted.

  3. They know what areas to include in Gross Living Area (GLA). Some people consider this as minor but including areas that are not allowed to be included in GLA while pricing your home with square footage, appraisal may not apply. Your home needs to be measured by the realtor juts like how it will be measured for loan appraisal.

  4. They will let you know if you can include an apartment in the GLA. There are times that homes have mother-in-law quarters or teenager apartments that may be an addition to GLA but it must be according to ANSI Standard. If it doesn’t meet this requirement, then your GLA may be overstated.

  5. They know the stairwell rule. The more square footage means the more money you can benefit for your house. Professional realtors know this rule and allow them to always include square footage that some inexperienced appraisers may not include.

  6. They can verify if the county has correct area calculations. If you have been paying higher rates for your property taxes, you may want to double check if your home has been taken the correct square footage. The county usually values a home depending on how huge it is. When you have documents to prove that it’s smaller, your property taxes will be reduced.

  7. They know the ceiling height rule. In home appraisals, there is a ceiling height rule. A professional realtor knows which areas are allowed and not allowed in this rule. The inclusion of the designated areas will overstate GLA so you also have to overstate the asking price.

  8. Potential buyers will know if their stuff will fit in the house. If the potential buyer of your home just moved out from a 1,500 square foot home and needs to move into a larger home, you should have the proof that their stuff will fit because if you don’t, you’ll lose the scale. Buyers from the outside of the town are used in reviewing sq. ft. listings and quotes. It will be an advantage for you if your will include such information.

  9. Property will be more likely to appraise for contract. As mentioned, if the correct calculation of square footage used the method of a professional realtor, value indifferences that relate to wrong square footage will be excluded.

Hiring a professional realtor for your home appraisal is a very good idea because they have the professional expertise to help your determine the accurate value of your home. It’s important that you don’t disregard hiring a realtor so that you can be sure of the price of your home if you’re selling it same as when you’re buying a home. Your professional realtor shall be your guide to selling/buying your home with the correct process and pricing. Getting a free home appraisal from a realtor gives you the chance to get more money for your home.