Nervous?

You should be, just a little bit anyway. On the eve of the first offer I have written for myself since joining the ranks of real estate brokers, I am nervous. The feelings of insecurity and doubt are exacerbated by the fact that this endeavor is a project like no other I have ever undertaken. For the most part this home needs almost everything. According to Robert Kiyosaki's "Rich Dad Poor Dad," you make your money not when you sell a home but when you buy a home. Am I making enough or allowing emotions to cloud my judgment? I find myself asking far more questions of myself than any client has ever asked of me. So far I have been able to answer all of them satisfactorily. If you are not just a little bit nervous, your not giving this decision the attention it deserves.

Do you have a bad rep?

Short of ambulance chasing attorneys, divorce lawyers and used car salesmen there are few professions where one can inherit the truly positive stereotypes I have becoming a Realtor. Alright, am I buying in on it? I hear horror stories all the time about the Realtor that complained after reaping a $10,000 commission that they had to empty the fridge just before closing. I hear tales of agents that get a listing and then disappear, or make their clients feel as if they are no longer on their side.

I heard that refrigerator story from a fellow on the sidewalk in front of one of my listings just after I mowed the lawn so it would look nice for an open house. Where am I going with this? We are not all the same. Do your homework and find an agent you like, trust and has some decent references. Once you have found one with a good rep, you can be assured they will be a good rep.
Some of my testimonials.

For Rent

Pricing in renting is as important a step when selling a home. Keep these things in mind. People with bad credit and perhaps no real intention of paying the rent will not care as much how high it is. Use number of leads from internet listings like Craig's list and number of sign calls you turn into showings as a barometer. If heating costs are reasonable and easy to determine(separately metered) do not include it the rent. Your rent will appear lower and get more calls. Oil, electric, shared heating systems may be more difficult for potential renters to wrap their heads around, consider including heat in these circumstances.

"I should be in a commercial"

"I should be in a commercial." I should, but I am not the one who said that. Recently a buyer I had shown a few properties decided to pursue a FSBO (for sale by owner) listing on her own. You may have read about the included dishwasher that was sold at a rummage sale. She called to give me an update on her progress and thought she would be a good spokesperson for the pro-Realtor cause. The level of emotion between seller and buyer has made her transaction difficult to say the least. The lack of understanding of the process on the part of the seller has led to many a road block. The inspection in particular caused an unfounded level of grief. When you work with me, I do more than show you houses and shuffle paper work. From offer to close, this is what I do. I know how it works and how to avoid problems. Think you might be interested in a FSBO, ask to see it. Let the agent make contact and see where it goes. Chances are good your journey will be a smoother one.

It's Shocking

Most every sale will include a home inspection, though there will be an occasional circumstance that the risk of not having an inspection will be worth taking. When writing your offer, be sure to read and understand "Defect Defined". A defect in your eyes, the lack of a GFCI outlet, a window that does not open easily or a broken sash cord will not qualify, nor will a furnace that is simply "old". These are things you will perhaps someday address but they do not qualify as a defect as defined in the offer. Look for these types of issues when you first survey the home.
Inspections generally cost about $300 and are worthwhile both for the issues they uncover and more importantly the peace of mind and education the buyers receive. The identified defect in my most recent sale was an incorrectly wired outlet. This quick easy fix will happen before closing and make for safe, happy, buyers.

The Low Ball

When you find the home you want to spend your life in, how much should you offer? Times are slow, your doing the sellers a favor, they are moving to New Zealand, lets make a low ball offer. Here's the straight dope. You are looking at homes in a price range. If this home is the one you feel stands above all else in that range, it is probably priced right. So what to do now? Look at the pricing history, when was it lowered if ever, has it been at the current price for long, forever? Even in the slowest times, homes generally sell for at or near asking, or 95 to 97% of the final list price. You see, it is priced right and that is why it is selling. An offer too far off will only offend and make the eventual negotiations more volatile. Do your homework and write smart.

Grandma's House

If you look at a good number of houses, you will probably run into one. Grandma has either passed away or moved to a more senior friendly locale. Her house, she so lovingly decorated in 1978, is now for sale. Good buy, or good bye? While exceptions will exist you may see this trend. Grandma did not want to worry about climbing a ladder to paint, a leaky roof, a cold draft from leaky windows, or a furnace going out during Christmas Dinner. Often these homes are the perfect opportunity for first time home buyers. The new roof, aluminum clad trim, new windows and new furnace mean many of the big ticket items have been cared for. A little sweat equity, (wall paper removal, new flooring, painting and sprucing up) can turn this house into your dream home. Don't be afraid to look past these minor cosmetic issues. Underneath them is a home that was made good enough for Grandma.

Dishwasher $100

Is the dishwasher, microwave oven, washer, dryer, oven, range, fridge and water softener included in the sale? They were all listed as included and in all of the marketing materials, so of course they are. Right? Wrong. Items included in the purchase price must be listed in detail in the offer to purchase. Anything that is not a "Fixture" (permanently attached)must be listed for it them to be included in the sale. Is a Dishwasher a fixture? Or was it sold at the rummage sale last weekend? Don't risk it.