BUYING AND SELLING QUESTIONS & TIPS (Q & T) Click on the Topic of Your Choice! PREPARING FOR SALE Q & T MORTGAGE & FINANCING Q & T SHOWING YOUR HOME Q & T TITLE & ESCROW Q & T HOME INSPECTION Q & T PEST CONTROL Q & T Information on this web site is deemed accurate and not guaranteed and should be independently verified before making any purchase or investment decision. PREPARING FOR SALE QUESTIONS & TIPS What is the first thing I should do to prepare my home for sale? Obviously, the first thing to do is to clean your home and make it spotless including floors, carpeting, walls, baseboards, and ceilings. Remove any clutter and clear up any disorganized areas of your home. You might consider bringing in a professional cleaning service to clean your home from top to bottom. You'll save time and they'll clean all of those areas you have missed and give your home their professional touch and spotless look. Remember, this is an investment in the sale of your home which will pay you back. If you want your home to look larger or roomier, consider storing a few of your recliners or couches while your home is for sale…or have a garage sale. Items that are causing a cluttered look, but that you want to keep can be boxed and stored in a portion of the garage or an unused bedroom. This cluttered look is especially obvious on kitchen counters and in the bathroom(s). Clean off those counters temporarily. Put those cute pictures of your kids and/or grandkids away until you move. Potential buyers like to imagine their own pictures on the mantle or hanging on the wall. Return to Top of Page Should I repaint my home or just give a credit to the buyer so they may choose their own colors? Depending on how old your home is, what condition the existing paint job is in, how long since the last paint job, are just a few things to consider. Just remember, a new paint job is obvious to anyone entering the home and will certainly improve the appearance and desirability of the home to prosepctive buyer's. Regarding colors, neutral colors should always be used unless you have had a professional decorator involved with color selection. Bright colors and primary colors on walls will kill a potential sale quicker than you know. Return to Top of Page My carpeting is ok in every room but one, should I replace it? If the room is not central to the home or part of a common area, the answer is prossibly no and new flooring is easily seen and appreciated. Of course if it is in terrible condition it would probably be best to replace it. Follow the color advice of painting and stick with neutral colors or certainly a color complementing or matching other flooring or carpeting adjacent to that room. Return to Top of Page What is curb appeal and how important is it? Drive down a street in your town you have never driven down before. As you are driving, look at the front of homes from the yard to the house and pick out 1 to 3 homes that look the best. You've just identified curb appeal and if those homes were for sale along with the homes next to them, you would look at those first. Now, go back to your home and look at the other homes on the block and in the neighborhood. Does your home have as much curb appeal as others nearby? Make sure your front landscaping is attractive and you may consider hiring a lawn and garden maintenance company to do a clean up prior to placing your home on the market. Also, you may want to hire the services of a pressure washing company to clean the front of your house as well as pressure wash and clean your driveway and front walks. Your curb appeal will increase and assist in selling your home quicker. Return to Top of Page How important is my landscaping and what can I do to improve it or should I offer a credit to the buyer to fix it up? Landscaping adds to curb appeal and complements and enhances the overall appearance of any property. Call some local landscaping companies and have them come out and give you a quote and some ideas on what you can do to improve your landscaping. You may be surprised that with a little investment on your part, your whole properties appearance can be enhanced and made more attractive. At the very least, have a lawn and gardening service come out and put the finishing touches on your landscaping which can range from trimming trees to manicuring a lawn. Return to Top of Page SHOWING YOUR HOME QUESTIONS & TIPS Should I let buyers just walk through the home on their own? You should accompany the prospective buyers on their home tour. You can lead them to the entrance of individual rooms and before you enter, step aside and invite them to enter and then point out any special features of the room as they view the space. You should never allow a prospective buyer to be in a room by themselves. If there are multiple individuals viewing the home, keep them together at all times. Verbally ask them to please remain together and if one person leaves the room, escort the other individuals out of the room. Never leave visitors in a room by themselves. Return to Top of Page What is the best time of day to schedule a showing of my home? The best time to show your home is when buyer's want to see it. It may sound a bit obvious but everyone has a different schedule and when buyer's are out home shopping, it is because they have made the time to home shop. Of course, reasonable hours should be expected and you wouldn't want to show the home late in the evening or too early in the morning. Because you are inviting a stranger into your home, if you are a women by herself, it is always best to schedule showings with a male friend present. If for any reason you are uncomfortable when you initially meet the individual(s) coming to view your home or at any time during your showing you become uncomfortable, you can always let them know that this is a bad time because of unforseen circumstances and reschedule for another time. Always keep your personal safety in mind and act accordingly. Return to Top of Page What should I do before the potential buyer shows up to prepare my home to show? The best way to show a home is with either all the lights on (even if it is daytime), and with all of the drapes open. If you leave closet doors open a little bit, buyer's won't have the urge to open the closet door as much as if it is closed. You want a bright and clean space to show them in every area of your home. Return to Top of Page Should I offer the buyer any printed information on my home? You should print out your Listing Page on YumaNow.com or any of our Partner Sites your home is listed on. Setup a special area of the house in either the Living Room or Kitchen (A large common area.), and have all printed material prepared and ready to hand out. It is also a good idea to have any receipts available for any major repairs, upgrades, or additions you have made to your property to show to your prospective buyer's. If you have any warranties or guarantees you received with any expenditures on the home, show these to the prospective buyer's also. If the prospective buyer's seem uninterested in any information you have to show them, don't waste your time any further and just thank them for coming to look at your home. Return to Top of Page HOME INSPECTION QUESTIONS & TIPS Why is a Home Inspection important to a home buyer? A home is the largest purchase you will make and having the peace of mind knowing the major systems in a home you are purchasing are operational and safe, is a must. Competent, qualified, certified, and professional home inspector's can end up saving you thousands of dollars on unknown repairs occuring within days and months of moving in. A home is a complex structure made up of different materials and systems and a complete home inspection can identify obvious, unforeseen by the nonprofessional, problems which need repair or replacement. Home Inspection is one of the best investments you can make in your new home. Remember to have the home inspection done prior to purchasing and make the purchase contract contingent on a satisfactory home inspection accepted by you. Any problems that are identified can be negotiated prior to the purchase of the home. Return to Top of Page Why is a Home Inspection important to a home seller? What better way to show your prospective buyers they are making the right decision, by showing them the results of a Home Inspection you have received and receipts for any repairs or systems you have replaced. One thing is for sure, those prospective home buyers will ask the sellers at the next home they look at if they have a copy of a Home Inspection they can look at. Chances are they won't and your home will be the first thing they think of. A Home Inspection is a great investment which will assist you in selling your home and can make the difference with a prospective buyer. Return to Top of Page Is there any guarantee provided by a Home Inspector that their inspection is complete? The answer to this question is coming soon! Return to Top of Page MORTGAGE & FINANCING QUESTIONS & TIPS What is a LSR and why do I need it? LSR is an abbreviation for "Loan Status Report". The LSR is provided to you by the Mortgage Company you are working with. It will show how much you are approved for, what the purchase price is of the home, and also other details regarding your financing including what stage you are at in the financing process with the Mortgage Company. The LSR should be presented with any offer you make on a property as it shows the seller you are prepared to purchase their home. Most sellers require a LSR with any offer presented. Return to Top of Page Can closing costs be included in my mortgage loan? Including closing costs in your loan is a detail you need to work out first with your lender and once they have approved, it must be included in any purchase contract you make with a property seller. It is not unusual for closing costs to be included in the purchase of a property and your Mortgage Company should be consulted first. Return to Top of Page How much do I need for a down payment to purchase a home? Your Mortgage Company will assist you in determing how much loan you are approved for and also what if any down payment will be required for the purchase price of the property you desire. Return to Top of Page What is the FICO credit score I hear so much about? FICO is an acronym for "Fair Isaac Corporation" which is the company that developed the "credit scoring" system used by most credit reporting agencies. Lenders use your FICO score to determine your credit worthiness and what amounts they will lend you, what line of credit they will extend to you, and also what interest rate they will charge you. Return to Top of Page Should I wait for mortgage rates to go down before I purchase a home? Become acquainted with a lender to discuss getting pre-approved for a loan that fits your income. Interest rates are always fluctuating, so it's feasible that you could be ready for retirement before rates come down enough to make waiting an advantage. Return to Top of Page How long does it take for me to get PreApproved to purchase a home? Some lenders can give you a verbal pre-approval over the phone. However, assume it will take at least 1 or 2 days depending on the lender. Return to Top of Page TITLE & ESCROW QUESTIONS & TIPS Why should I use a title and escrow company when buying or selling Real Estate? A Title and Escrow Company is in the business of assisting buyers and sellers in transferring properties in a legal and binding manner. The Title and Escrow Company make sure all documents are in order, the title is free from any encumbrances or liens (The title is not subject to additional money's owed by the seller not related to the mortgage.), and the Seller is legally able to transfer title to the property and the Buyer is legally able to take title of the property. The end result is the sale is completed and, the Title and Escrow Company is involved in a lot more details than what we have listed. Return to Top of Page Do I have to purchase Title Insurance when purchasing a home? If you are making an all cash purchase, the answer is no and you most definitely will want Title Insurance to protect your investment. In the event a mortgage is involved in the purchase Title Insurance is a requirement. Return to Top of Page What is the purpose of Escrow and do I have to use an Escrow Company? A Title and Escrow Company is a neutral third party which assists the Buyer and Seller in completing the transaction and making sure the final transfer of property is legal and binding. Verifying there are no outstanding liens or loans on the property not disclosed in the purchase agreement is just one of the very important tasks they complete. Title and Escrow companies handle all the details in transferring and recording property transactions and are a must in any Real Estate purchase or sale. Return to Top of Page PEST CONTROL QUESTIONS & TIPS Why do I need a Pest Control company for an inspection when I sell my home? If the buyer is financing the home, the mortgage company will require a termite inspection as a condition of funding the loan. If it is an all cash purchase, the buyer may require a termite and pest inspection prior to the sale closing. Return to Top of Page What is the cost of a Termite Inspection and when do I have to pay? The cost of a Termite Inspection varies from area to area and if you contact your local pest control, they will give you the pricing. Most pest control companies have the Termite Inspection cost billed to your escrow account once you have a buyer and have opened escrow. The pest control company is then paid once the sale closes. Return to Top of Page Is there any advantage to having a pest control inspection prior to selling my home? Most lenders have a maximum length of time that they allow for a pest inspection to be valid. It won't hurt to have an inspection prior to selling, just be aware that your buyers' lender might request a current inspection. Return to Top of Page Who should pay for any Pest Control inspection required when I sell my home? It's the buyers responsibility to perform all inspections they feel are necessary to assure the home is in the condition they want. (Also, lenders might require a pest inspection.) Who pays for the inspection can be negotiated in the contract offer. Return to Top of Page

ANY DOWN PAYMENT YOU MAKE ON A PROPERTY SHOULD BE MADE PAYABLE TO A TITLE AND ESCROW COMPANY AND "NOT TO THE SELLER" TO PROTECT ALL PARTIES INVOLVED IN THE TRANSACTION. Information on this web site is deemed reliable and not guaranteed. You should consult with a professional such as an Attorney, Accountant, and licensed Real Estate person before making any committments regarding your investments or finances. Information on this web site is subject to change without notice.