23 Ingredients to Successfully Selecting a Contractor or Home Remolder

23 Ingredients to Successfully Selecting a Contractor or Home Remodeler for Buyers

1. Shop around … don’t rush into choosing a contractor.
2. Get references from friends, neighbors, and family who have had similar work completed.
3. Get at least three written estimates for identical work so that you can easily compare bids.
4. Get references from the contractors so you can check on their work.
5. Call your local municipality and see if there have been any complaints against any of the companies you might consider for your remodeling.
6. After you have made a choice of contractor, don’t let work begin without a signed contract. Be sure to seriously consider having an attorney review prior to signing.
7. Be wary of signing a “letter of agreement” or even a contractor bid form—this might be a binding contract.
8. Be sure to specify what is to be done and when work is to be completed. Make sure the contract contains:
9. Who will do the work?
10. When will the work be completed?
11. A detailed list of specific materials to be used.
12. The appliances or fixtures to be supplied.
13. The dates for beginning and completing the job.
14. Monetary penalties for non-completion of project on time.
15. A provision for the cleanup of the premises.
16. Don’t sign a contract that reads “work as per agreement.”
17. Specify that contractor will obtain all necessary licenses and permits.
18. Specify contractor will meet all zoning regulations and building codes.
19. Be sure contractor will indemnify you in case of not meeting all regulations.
20. Be sure that the contract states that the contractor is responsible for any damages to your property.
21. If contractor guarantees the work, be sure it specifically states what is guaranteed and for how long.
22. Contract should state when payment is due. Never pay full price in advance; link payments to certain stages of completion of the entire job.
23. Final payment and the signing of any completion certificate should only take place when the work is completed to your satisfaction.

5 Simple Steps to Buying Your Next Home That Could Save You Thousands of Dollars

5 Simple Steps to Buying Your Next Home That Could Save You Thousands of Dollars

1. Ask mortgage bankers and lenders the right questions to get the best loan for you based upon your needs and your financial goals.
2. Act quickly when you find the right house … someone else may consider it to be the right house, too, and you could miss out or be placed in a situation of multiple offers.
3. Be sure to package yourself and your offer in a way that looks attractive to the seller.
4. Think resale BEFORE you buy.
5. Be sure to select the right salesperson and company to help you.

Solution: Find a salesperson with proven checklists and systems that will help you research your goals.

Questions to Ask Yourself When Searching for Your Next Home

Answering the following questions may assist you in determining the most important features you would like in your next home. It’s important to prioritize your needs in housing and also recognize that compromising on less important features will help in narrowing your selection of homes. Remember that there is no “perfect” house.

Are there features in your current home that you would like in your next home? What are they?
Do you have a floor plan preference?
Do you prefer a single-story, two-story, or multi-level living space?
Do you want a yard?
Are you looking for a maintenance-free lifestyle? If yes, do you have a preference for single-family, townhouse, or condominium living?
How many bedrooms?
How many bathrooms?
What would be the most compelling reason for you to purchase a particular property?
Which of these amenities would be nice to have but not necessary?
What in your current home would you like to change?
What other amenities would you like? Be sure to prioritize those items.

These are sampling of the questions a buyer should be asking themselves to help them in their home search.

Pre-Approval: The Key to Moving Quickly

One of the most important steps in the home-buying process is being pre-approved for a home loan. Many buyers apply for a loan and receive approval from a lender BEFORE searching for a home. This is called “pre-approval.”
Why is pre-approval important at the beginning of the home-buying process?
* Pre-approval can cut days or even weeks off the closing, because the lender has already conducted its credit analysis and approved you for a mortgage.
* Pre-approval strengthens your offer and negotiating position. A home seller will often choose to accept an offer from a buyer who is pre-approved for a mortgage over one whose financial picture is still in question.
* Pre-approval will determine your price range and narrow your search parameters. Based on your down payment and that pre-approved mortgage amount, you will know how much you can afford before you even start looking for a house.
There is also a significant difference between buyers who are merely “pre-qualified” and those who are pre-approved.
Pre-qualified buyers are those whose lenders have determined how much they can borrow based only on information the buyer has provided to the lender. Nothing has been verified to determine the buyer's true creditworthiness. The buyer still must fill out a loan application and go through the lender's approval process.
For buyers who have been pre-approved, the lender has already done a credit check along with verification of employment and deposit. The lender's pre-approval is a commitment to loan the buyer up to a certain predetermined amount. The only piece missing is the lender’s appraisal of the home to confirm its value.

Tips On First Impressions

As you prepare your home for the market, one thing to keep in mind is that you have only one chance to make a first impression. It is absolutely vital that prospective buyers form a good impression of your home--beginning the moment they drive up.
You can help create that good first impression by presenting potential buyers with a well-cared-for yard including a mowed lawn. Your front door and porch should be clean and neat, preferably freshly painted.
These first important encounters create a positive impression that carries through to the rest of your home. An inviting atmosphere implies that your house has been well maintained and taken care of. Homes that convey pride of ownership frequently receive the best offers.
If your home appears disheveled or uncared for, prospective buyers may quickly conclude it's been neglected and is in need of repairs. Such a negative impression can result in a less-than-generous offer--or possibly no offer at all.
Try viewing your home through a potential buyer's eyes. Would YOU buy your home?

Your Important Records Are on File

This may be a good time to remind you that we maintain a permanent file regarding your home purchase. It includes financial information like closing statements, settlement charges, and real estate taxes.
This is very good news if you're one of those people who would rather go to the dentist than attempt to keep your financial files straight. On the other hand, it's probably only moderately interesting if you're one of those people who saves and files papers with ease.

Either way, if at any time you need an exact figure for financial record keeping reasons or for tax preparation purposes, or if you have a question about any other real estate matter, please contact me by clicking here.

My interest in your complete satisfaction continues.