If you are selling a home, youll get the highest price in the shortest time, if your home is in top condition. Almost all sales contracts include the condition that the contract is contingent upon completion of a satisfactory inspection. This is known as the inspection contingency. Buyers will insist on a professional home inspection performed by an inspector they will hire. If the buyers inspector finds a problem, it can cause the buyer to get cold feet and the deal can often fall through. At best, surprise problems uncovered by the buyers inspector will cause delays in closing, and usually you will have to pay for repairs at the last minute, or take a lower price on your home.
Its better to pay for your own inspection before putting your home on the market. Having a pre-listing inspection done will make the whole sale process easier. Present any items as is and reflected in the purchase price. Otherwise, you can count on the buyers inspector finding them, at the worst possible time, causing delays, and costing you more money.
One of the key benefits of having the inspection done early, is that if there are any problems discovered that need to be repaired, you can have the repairs done on your own terms, on your own schedule. When a problem isnt found until the buyer has an inspection performed, the deal youve worked so hard to get done may fall apart unless you act quickly to get the repairs done. Or you may have to take a lower price, in order to keep the deal moving. In either case, youll almost certainly have more headache, and spend more money, than if youd known about the problem and had it repaired before negotiations began. You could save thousands by simply being able to shop around and get competitive bids from contractors, rather than being forced into paying for a rush job at the last minute. Another area where you can save money is in having flexibility to choose the materials used in repairs. Sales contracts usually specify repairs must be made using materials of comparable quality. By identifying needed repairs early, youll have the option to save money by using less expensive materials for the repairs.
You can also benefit from simply offering certain items as is. Often, you can negotiate with a buyer to accept items in the current condition by stipulating that they are reflected in the purchase price. But that same buyer may walk away from the deal if the conditions come as a surprise, after an offer has already been made. If the home is inspected before the house goes on the market you will be aware of the condition of the house before an offer is made. There wont be any surprises and the deal is far less likely to fall apart. It takes a lot of effort to get a sales agreement signed in the first place. If the inspection turns up problems, the buyer will want to negotiate a new deal and that second sales agreement is usually even harder to get done than the first one.
By having a pre-listing inspection done, you can identify problems early. Then either correct them or present them as is, assuring that the first offer you accept can move quickly and smoothly to closing without delays or costly surprises.
Dear Client: As your personal mortgage consultant, I strive to provide you with the most appropriate options available in today's active market that will meet your individual needs. My reputation for providing superior, "tailored" services, while exercising uncompromising integrity, is what sets me apart from many others in today's often very competitive industry. When you enlist me to advise you regarding mortgage options or to provide you with homeloan solutions, I will work diligently to ensure a smooth and timely transaction. With the many resources available to me and my mortgage team, I am confident that we will be able to meet your current and future mortgage needs. My commitment to provide stellar service ensures that my best efforts will be consistently put forth on your behalf. I hope your positive experience with us will result in future transactions with you, your family, and your friends...as my "customers for life". Thank you for the opportunity to assist you with your mortgage needs.
Sincerely,
Lanelle Martin
Phone: (206) 686-5585
Buying a new home is probably the biggest investment you'll ever make. And it's a decision that will affect you for years to come. The process can be extremely stressful and confusing. And of course, there is always considerable risk involved when making such a large purchase decision. A professional inspection will significantly reduce your risk and help make the entire home buying process easier and less stressful. We really enjoy helping our clients in this process customer service is our highest priority.
We strongly encourage all of our clients to accompany us during the inspection. You should feel free to ask the inspector any questions you may have during the inspection process. The inspector will point out problems and explain them to you. The inspector will also show you the good points of the house as well. Plus, we will explain what routine maintenance is needed to keep the house in top condition. This will help you to get the most benefit from the inspection and gain the most understanding of the systems that make up your home, and how to maintain them.
You'll get a comprehensive report that is easy to understand. Everything identified during the inspection will be included in the report.
Armed with the information our report will provide, you can make your decision with confidence.
(A bit long, but another worthwhile closing post to read... with some not-often-phrased-in-such-a-way explanations. I enjoyed writing it at least. Let me know what you think.) You know the "stock lever?" If not, that's the term we use to describe the common occurrence...Read More
While benchmark Treasury yields moved slowly higher throughout the course of the week as our government auctioned debt to raise spending money, mortgage-backed securities managed to maintain a pretty consistent price range. After all was said and done and the auctions were behind u...Read More
Audited financials are starting to come in, and they’re confirming what we saw all year. Top performing mortgage bankers made 90-100 bps per loan. That means, for every $100 million you closed, you should have (and could have) earned $900,000 to $1 million. If you didn&rs...Read More
It was an interesting morning in the rates world. Let's start with our fearless leader, the benchmark 10 year note. In below average trading volume, yields rose marginally (at most) in the overnight session before popping higher on the heels of a much better than expected Retai...Read More
Fitch Ratings is warning that the expiring homebuyer tax credits, the end of the Fed's MBS Purchase Program , and the growing maturity of various government loan modifications programs are likely to increase loss severities on distressed mortgage loans later this year. The report says that thes...Read More
USDA Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. There is no required down payment...Read More
As reported on February 26 , Freddie Mac has decided to stop purchasing and securitizating loans utilizing the interest only payment option. Freddie's deadline for PURCHASING these loans was set as September 2010, however no application/LP approval date cut-off was provided in the bulletin. Thi...Read More
The Federal Reserve reported on their weekly purchases of agency mortgage-backed securities (MBS). In the week ending March 10, 2010, the Federal Reserve purchased a gross total of $29.4 billion agency MBS. In that week the Fed sold $19.4 billion mortgage-backeds (supported the roll), for a net tot...Read More
Don't forget to "Spring Ahead" this Sunday morning. We lose an hour of sleep. The FDIC made a rare Thursday move and shut down LibertyPointe Bank This bank catered to the Orthodox Jewish community in Manhattan and Brooklyn, and will be taken over by Val...Read More
Retail Sales data has hit screens. It was much better than expected. Rates no likely. February, Retail Sales rose 0.3% vs. an expected decline of 0.2%vs. a revised for the worse +0.1% print in January (from +0.5%) . Excluding autos, sales rose 0.8%, crushing forecasts for a 0.1% im...Read More
* MOL = More or Less
West Horizon Financial, Inc. 821 Kirkland Ave #100 Kirkland, WA 98033
