Posts Tagged ‘moving’

Apps To Facilitate Your Move

Buying a home and moving is stressful on many levels. Here are some Apps to make the moving an easier endeavor. Like other productivity apps that can be downloaded on your smartphone, move-planning apps will help you keep everything organized.

Dolly: So you’ve arrived at your new home and realized you don’t have the person-power to haul that bedroom furniture upstairs? No problem! Dolly (free, iOS, Android) connects you with helpful delivery people looking to make a few bucks. These strong-backed guys and gals have no qualms about carrying your furniture to its new resting place in your new home and there’s never any haggling over price.

Flying Ruler: Flying Ruler will help you measure anything in your home. Not sure if that sofa will fit in your new living room? Is it too large to come through the front door? Flying Ruler can help you be sure. This app is a tape measure, ruler, protractor, and a goniometer.

Google Keep: Google Keep (free, iOS, Android) is the ultimate sharable note application. When you’re planning a move you will quickly find yourself making lists … and then making lists of those lists. That’s where Google Keep’s shareable, synced lists and notes come in so incredibly handy. When things get really hectic you can even record voice memos and Google Keep will actually transcribe them into readable text for you to browse later.

Handy: With Handy you can schedule a move-out or move-in cleaning by a vetted and background-checked professional. You can also book handyman services like furniture assembly, TV mounting or picture hanging to help you settle into your new home. Moving assistance is available, too! You’ll leave with your home in better condition than you found it in, and your new place feeling like home right away.

Magicplan: Floor plans are a crucial tool for envisioning your new living space and deciding where to place furniture and home goods. Use Magicplan on your phone or tablet to scan and measure rooms, then compile them using their drag-and-drop interface to create a complete floor plan.

MakeSpace: If you’re downsizing or moving to a home short on storage space, MakeSpace will come in handy. Just book an appointment, and its team of professional movers will come to pick up your stuff and haul it off to storage. When you want your items back, schedule a delivery, and the team will return your goods. MakeSpace will bring complimentary supplies, like bubble wrap and free MakeSpace bins.

Meta ( Facebook) Marketplace: If you’ve ever moved you already know that you eventually get to a point where you’ve packed up all the important stuff and would rather just throw everything else in the garbage than wrap it, box it and haul it. That’s no longer necessary because there are people all over your town who will buy your old stuff and they’re on Facebook Marketplace (free, iOS, Android).

MoveAdvisor: MoveAdvisor is another comprehensive moving app allowing you to take inventory, find movers and establish a moving timeline all in one place. The app itself is free of charge to download and use, but you’ll have to pay for any services you book.

Moved: Designed to be your personal moving concierge, Moved manages the entire moving process for you. The app is a one-stop shop for your move. It will organize your move every step of the way, from finding movers, hiring packers and selling unwanted items, to updating your address and even hiring cleaners and painters. The service also helps you find moving professionals, affordable packing materials, and storage facilities

OfferUp: OfferUp is the largest mobile marketplace in the United States to buy and sell goods locally, and you can do so straight from your phone! Just take photos of the items you’re selling, describe the items and set a price. Buyers can message you through the app and make an offer, then arrange to meet you and retrieve the item.

RideShipper: You’ve got a car, bike, boat, or something else you need shipped? With RideShipper you fill in the free vehicle shipping quote and you get almost instantly up to 4 estimates from reputable shipping companies.

Sortly: Sortly is an inventory app built with small businesses in mind, but also great at cataloging all your beloved items and ensuring that they make it to your new home in one piece. Use your smartphone camera to snap images of items and Sortly automatically catalogs them for you. You can add barcode info for additional details and check off items as you’re unpacking.

TaskRabbit: Need someone to help you move, pack, unpack or help with almost any moving-related task you may need? With Taskrabbit you’re able to state the task you need done and get matched with a freelancer (referred to as “Taskers” on the platform) who can do it for you.

TurboScan: One thing you don’t need to haul along to your new home is piles and piles of papers you’ve let stack up over years of home office neglect. You could scan them with your printer, but that would take forever, so download the TurboScan app (free, iOS, Android) and capture perfect scans of every document in mere seconds.

Unpakt: Moving companies are everywhere, but which one will give you the best rate? Get rid of the stress of searching for the best deal and let Unpakt find it for you. Compare prices between a variety of local and reputable moving companies and even contact the mover of your choice right from the app. Unpakt offers a price guarantee that only changes if you add or remove an item or service.

Filed under: apps, Blog, Boca Raton real estate, Down Sizing, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Maintenance, Homebuyer Advice, Interior Design, Moving Apps, Real Estate, real estate news, South Florida Real Estate by Kim Bregman
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Things To Do The First Week After You Move

Moving into your new dream house can be a daunting task. Between unpacking, cleaning and trying to find that stray roll of toilet paper, it may feel like you have lost your mind in a sea of bubble wrap. That is why I wanted to share simple things that you should do that first month of living in your new home. These items may feel like back burner tasks but really, they will help you sleep better at night in your new abode and make you feel like your new place is less like a new house and more like your new home.

Change the Locks: Security is the number one concern of most people in a new environment. You can easily switch out your locks and deadbolts to your new home to protect your valuables, your family and of course, yourself. Now is the time to consider the finish and the options are endless! When it comes to exterior locks, make sure you choose something that looks timeless and can be cleaned easily. A new security system is also a good idea. The options for this are endless as well. Systems with online monitoring, iPhone compatibility, thermostat control and even video monitors for the interior as well as your baby nursery are super helpful. Even if the room is empty now, it won’t be in the future – so go ahead and secure it!

Remove Toilet Seats: By removing your toilet seats, you will be able to really deep clean under the bolts and hinges. After a thorough scrubbing, you can reinstall your existing seat or choose to shop for a new one (new versions with night lights, padding or even child sized attachments are now available!)

Change the Garage Door Code: Similar to the locks, but this is applicable if your garage door has a remote mounted on the outside of the door. It is easy to change the code, simply look up the user manual for your specific opener online. If your home comes with a smart garage door opener, make sure to download the app and get it set up with your phone too.

Replace the Fire Extinguisher: Emergencies happen, knowing that you have a working fire extinguisher if needed is essential.

Change the Smoke Detector Batteries or Units: Avoid the dreaded 3am chirping by changing the batteries when you first move in and mark your calendar for every 6 months to swap them out again. If the house is older than 10 years old, consider replacing the entire unit (possibly a combined carbon monoxide and smoke detector unit).

Change the AC Filter: A five-minute project that can prevent loads of headache down the road. An old filter can make your AC work harder which can lead to it running inefficiently or breaking.

Set up the Thermostat Schedule: Unless you like the exact same temperature and live on the same schedule as the previous owners, you’re going to want to set up the thermostat. Better yet, replace it with smart thermostat and start building out your smart home!

Clean the Dryer Vent: It is unknown when the vent was last cleaned. In order to prevent using the new fire extinguisher, clean out the dryer vent of years of lint!

Find all the Shut-Off Locations: Hopefully you never need to use these in an emergency situation; however, if it does happen, you don’t want to use that time to search for the shutoffs.

Change Your Address: The first address to change is with USPS. This will ensure that anything you miss will get forwarded. I was also able to select a checkbox to update my voter registration at the confirmation screen. Another important address update is on your driver’s license and car registrations.

Make a List of Emergency Numbers: The point of an emergency contact list is that it’s there when you need it. Now that you’re in a new location, you need a new list with local phone numbers and addresses for the police department, nearby hospitals, the fire department, and other emergency services. Don’t wait until you need them in a hurry.

Collect your Moving Receipts: For any home move, it`s a good idea to keep all of your receipts for moving expenses, just in case you`re able to write off your move. If you haven`t done that yet, now`s the time to gather your receipts and documentation and make notes about what each item is for as well as any additional information that may be helpful at tax time.

Meet your Neighbors and Enjoy your New Home!

Filed under: Blog, Boca Raton real estate, Down Sizing, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Maintenance, Homebuyer Advice, House Closings, Real Estate, real estate news, Relocation, South Florida Real Estate by Kim Bregman
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Types of Movers for Home Buyers

Moving to a new house, city or state is one of the most stressful things a person can go through. Even when everything goes smoothly, you’ll likely be exhausted when all is said and done. Whether it’s down the street or across the country, moving is a major task that requires much effort and coordination. For this reason, many people choose to hire a moving company, but knowing who to entrust your belongings can be a daunting task.

While you do have the option of going the DIY route when moving, things will be so much easier and more convenient for you if you hire professional movers instead. You’ll incur certain costs by doing so, but the help they can provide is worth it.

It’s also a common mistake to hire the first moving company you lay your eyes on in an ad. There are so many moving companies out there, but not all are created equal. The movers you should hire are legitimate ones with licenses, insurance and other vital considerations. You should also get quotes from at least three movers to determine the best deal. Ask for references and verifying credentials. And remember to never pre-pay for a move!

Local Movers

There are many kinds of moving companies depending on the type of move you’re looking to make. Some companies specialize in local moves and will have limitations on the distance they’re willing to travel. Local movers are great for small cross-town moves since they typically charge by the hour.

Long-Distance

If you’re moving across the country, you’ll want to find a long-distance mover. These movers have special licensing that allows them to operate across state lines and they typically charge a bulk rate based on how quickly you need to be moved and how many items you’ll be moving. In some circumstances, you may even need to move out of the country. International movers will help you pack and get your items overseas. These moving companies are usually prepared for immigration and customs issues.

Full-Service

If you want a completely stress-free move, you should consider a full-service moving company. These companies take all the hassle out of your move by disassembling and packing up your old house and then unpacking and reassembling everything in your new place. Additionally, they provide all of the materials so you don’t have to worry about how much tape you’ll need or what size boxes to get.

Filed under: Blog, Boca Raton real estate, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Homebuyer Advice, International Home Buyers, International investors, Real Estate, real estate news, Relocation, Retirement, South Florida Real Estate by Kim Bregman
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Tax Considerations When Deciding to Relocate.

Florida retains its ranking as one of the nation’s lowest-tax states, according to the latest study released by Florida TaxWatch. Out of 50 states, Florida ranks No. 42 in the average amount of money paid by residents.

Florida TaxWatch findings:

Floridians pay an average $5,679 per person in state and local taxes
Residents pay an average $2,584 in state taxes – one of the least amounts nationwide. Only the residents of one other state pay less.
However, local tax burdens are higher. “Per Capita Local Tax Collections” ranked No. 27 nationally.
In the balance between state and local taxes, Florida relies more heavily on local revenue than almost all other states and is No. 2 nationwide. Local taxes account for 53.3 percent of the total.
With property taxes, Florida ranks a solid “average” score – No. 25. The state’s per capita property tax ranking is right at the median – 25th.
Florida also classifies 38.7 percent of its state and local revenue as non-tax revenue (such as “fees”) – the 7th largest percentage in the nation.
Florida relies more heavily on transaction taxes, such as general and sales taxes. They make up, 81.5 percent of all state tax collections compared to the national average of 47.2 percent.
Florida has the highest state and local selective sales (excise) taxes on utilities in the nation. The tax on motor fuels is No. 15; the tax on alcoholic beverages is No. 19.
Florida’s housing sector produces significant revenue, and the state’s documentary stamp taxes are rising rapidly post-recession. It collected an average of $276 per capita in 2006, $72 in 2009, and $130 per capita in 2016 – the nation’s second-largest doc-tax burden.
Florida is one of seven states without a personal income tax. The average state relies on personal income taxes for 37.0 percent of its tax revenue.
Businesses pay 51.7 percent of all Florida state and local taxes – the 12th highest percentage in the nation.

Filed under: Blog, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, HELOC deductions, Home Buyer Advice, Home Buyers, Home Financing, Homebuyer Advice, International Home Buyers, International investors, Mortgage Interest Deductions, Real Estate, Real Estate Investment, real estate news, Relocation, Retirement, South Florida Real Estate, Tax deductions by Kim Bregman
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Things Not To Forget Before You Move

Filed under: Blog, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Real Estate, Real Estate Closings, Real Estate Investment, Relocation, South Florida Real Estate, western north carolina real estate by Kim Bregman
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What a Home Buyer Should Never Say!

Always know who the real estate agent you are working with represents. If they are the Listing Agent they represent the Seller, a Transactional Agent works for their personal benefit and even though an agent will put you in the car and drive you around and are not the listing agent, in most states they are Sub-agents for the Seller and work for the seller. It is most advisable for buyers to only work with Exclusive Buyer Agents (EBAs). If you find that you are at an open house or have called an agent and they are not an EBA…you’re your tongue. What buyers may innocently say in the presence of a Seller, Listing Agent, Transactional Agent, or Seller’s Sub-agent can be used against them during a negotiation.

While it may be tempting for buyers to say what’s on their mind during their home search, you should consider yourself in a poker game and keep your cards close to your chest and your comments to yourself. There are some things home buyers should never say on the fly.

Others may be listening. Listing agents, seller and neighbors all have motives to keep tabs on the situation — or there could be even be a camera or recording device planted somewhere. In the age of smart home security you can never be too sure.

Those off-the-cuff comments made while moving from room to room could be used against you.

Here are some obvious comments home buyers should never say when shopping for a home:

‘I love it; it’s perfect!’

That feedback goes straight to the seller.

When the less-than-full-price offer comes in and the buyer requests all sorts of concessions, how will the seller be inclined to respond?

‘That (decor, furniture, wall color) is awful!’

What were they thinking?

So maybe the sellers’ tastes are not what the buyer would pick, but that doesn’t make their choices wrong. If these comments get back to the sellers, their desire to be cooperative when offer time comes in my be less than enthusiastic.

‘This home is way overpriced’

Be careful with that statement.

While this is a common buyer thought, what happens if this house ends up being the best option? When the listing agent or seller sees the buyer’s name on an offer, they immediately tart off in a defensive position. If is is truly overpriced your Exclusive Buyer Agent should provide a comprehensive analysis during the negotiation to make this point.

‘I can afford to spend up to X’

While it’s certainly a good idea for prospective buyers to find out just how much they can afford, they should keep that information strictly between them and their Exclusive Buyer Agent. You would be surprised by the number of deals that end of at the top of your affordability range because you disclosed this to the agent that is driving you around. Insist that they develop a Comparative Market Analysis and pay no more than market value for any property regardless if you can afford to pay more. Most real estate agents have a duty to get the highest price offer for the Seller or want to get the highest price offer to get the most commission. The only type of agent that has a fiduciary responsibility to the Buyer is an Exclusive Buyer Agent, even an Accredited Buyer Agent will either be a transactional agent or sub-agent of the Seller if they are not the listing agent as well.

“Why is the Seller moving?”

This is a personal question that’s best not asked by a buyer, it will more often then not result in an evasive answer or a lie.

Let the buyer’s agent position that query with the listing agent in a diplomatic way to glean information about the situation at hand.

‘What are the neighbors like?’

Talk about putting someone on the spot. Listing agents likely have no idea — they don’t live in the neighborhood 24/7, and it would they cannot discuss race, religion, sexual orientation, etc. When cornered, is the seller likely to divulge?

“There’s a Mrs. Kravitz across the street and a curmudgeon next door? And by the way, the teenager that lives on the other side of the house? His band starts warming up in the garage about 11 p.m. on Thursday nights.”Hardly. These people are trying to sell their house. It’s all wonderful. Buyers have to assess the neighbors on their own. Visit the neighborhood and different times of the day and on the weekends to get a sense of the neighborhood.

‘Will the seller take X price?’

Negotiations are best left to agents with a written document from which to work. No Agent or Seller will be inclined to negotiate in good faith without a written offer and Proof of Funds or a pre-qualification letter that demonstrates your ability to buy the property.

Although it’s OK to be candid with your own agent and those you trust, only do so when you are not within earshot of anyone in the seller’s camp. That includes those curbside chats as you are wrapping up the showing near your car.

Be engaged but conservative in the information you share and how you react to homes you see, even if you have a real interest. You can jump for joy when you are with your agent writing the perfect offer.

Filed under: Blog, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Kim Around the Web, Real Estate, Real Estate Closings, real estate news, Real estate trends, Relocation, South Florida Real Estate, western north carolina real estate by Kim Bregman
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Location, Location, Location!

There are many things that should be considered when buying a home. Since most home buyers expect to buy a bigger and better home someday in the future, resale value is an important factor in decision-making. While no one can guarantee that your home will grow in value, there are steps you can take that maximize your potential gain.

“Location, location, location,” is a common and almost overused phrase in real estate and has been in use at least since 1926, according to the New York Times. It is just as relevant now as it was then.

The idea is to buy a house that will appeal to the largest number of potential future home buyers. A careful choice of location can minimize potential negative influences on future resale value, and maximize positive influences.

So if “location, location, location” is so important, what makes a location good? Here are five characteristics to look for when buying a home. If you can get all five, chances are the home will be a good investment.

Some “good” and “bad” qualities simply vary by community. If you know your local community, you know which parts of town are less or more desirable.

Safety:

People want to live where there’s little or no crime. Naturally, they want to feel safe in their homes and will pay extra for it. A safe neighborhood means people will feel free to walk around, be outdoors and interact with their neighbors.

Good Schools:

Whether you have children, plan on having them, never want children, or they are out of the house; the better the school district, the higher the values of the surrounding homes can be. . The reputation, the quality and the district are additional factors in finding a good school. Homes surrounding good schools are in high demand. Found a home you love but the school district is subpar? Be aware of that issue for resale down the road.

Convenient access to work, popular places, shops and restaurants

Everyone wants to be near the best commercial districts. The closer to the hubbub of a particular town or the best parts of a city, the better the location – and the more someone is willing to pay for a home. The distance from point A to point B is so important. A long commute burns more gas and wastes more time than necessary. Therefore, evaluate the time it takes to travel from the home to the following: work, school, store, hospitals and favorite hangouts. Buyers without cars must live in communities with public transportation access. A community containing local amenities close by is valuable to buyers.

View, Views, Views:

No matter which town or city, someone will always pay for a great view or to be on or near the water. An interior location with lack of road noise is also an important consideration. If the community does not offer views, then the backyard area and how it is designed is a consideration.

Access to public transit and/or freeways:

In major cities, the farther you live from the bus, subway or other types of mass transit, the less valuable the home. A good location means being very close, and having easy access, to public transportation. Being near a train or bus can get you anywhere in a short amount of time. In some towns, where a commute by car is inevitable, easy access to the freeway makes for a good location. Adding 20 minutes to a commute just to get to the freeway never helps a location.

It’s almost easier to talk about what constitutes a bad location than to discuss good locations. There are some common characteristics that make a location “bad,” no matter where you are. That is because the qualities that make a good location desirable can vary, depending on whether you’re looking in the city, suburbs, the country or the mountains. Bad locations, by their general nature, are easier to pinpoint. Some examples are:

Commercial/industrial areas:

Unless you live downtown, commercial buildings on your block diminish residential real estate values. Part of the reason is because homeowners cannot control loitering. Homes next to gas stations or shopping centers are undesirable because of the noise factor and compromise safely.

Railroad tracks, freeways or under flight paths:

Some city dwellers have homes close to railroad tracks and endure rumbling and other noise 24-hours a day. If you have a choice to be in a quiet area, free from road noise within the same community, this is the better choice of residence.

Economically depressed areas:

If owners show no pride of ownership in maintaining their homes, evidenced by lack of maintenance, poor landscaping and junk in the yard, you might think twice about moving into such an area.

Close to hazards:

People don’t want to live next door to power plants or substations. Few home buyers want a transformer in their yard, either. Understand the flooding risks and exposure to natural disasters and the preventative measures that have been taken to minimize them.

Other factors that can make for a “bad” location: very close proximity to a fire station (good if your house is on fire, not so good if you’re trying to sleep); a hospital (frequent ambulance sirens); an airport (sounds of jet engines 18 hours per day) or a school (traffic from buses or parents dropping off children or kids yelling and playing).

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, Kim Around the Web, Real Estate, real estate news, Real estate trends, Relocation, South Florida Real Estate, western north carolina real estate by Kim Bregman
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Most Often Asked Homebuyer Questions – Answered!

Buying a home is a major lifestyle and investment decision. Homebuyers have a lot of questions throughout every step of the process and I have found that many of the questions are common to many. Here are some answers to the most common questions I get asked.

Q: What home can I afford?

That depends, of course-on your income and other financial obligations. There are many Home Affordability Calculators for a ballpark figure. A visit to the Optima Properties website will offer you many tools under the Finance Center!

Before you start to shop, make sure that you know exactly what you can afford by getting pre-qualified by your financial institution of mortgage broker.

Q: Can I buy a home and sell my current one at the same time?

Yes, you can-but it’s the real estate equivalent of walking a tightrope. This is one of the trickiest questions to answer, on the one hand, if you buy a home before you sell the one you’re in, you’re overextended financially; if you sell before you buy, you might need to rent a while before finding a new place. There are ways to do both at once, and one option is to request a “sale contingency” in your contract. This means you only agree to buy a home if you can sell the one you’re in. The only downside is if your seller doesn’t agree and will not agree to this condition….it never hurts to ask!

Q: How many homes should I see before making an offer?

As many as you need to! While home shoppers these days can look at hundreds of homes online, most need to physically visit the area and stand in the properties before they put in an offer. Keep in mind, this varies tremendously for each person. Some people find their home within hours of looking or make an offer sight unseen because they have definitively defined their criteria. For others, it takes months and sometimes over a year if they are trying to determine the area, lifestyle, and type of home that meets their requirements.

Q: What do you think the seller will accept as a fair price?

As a rule of thumb, knocking 5-10% off the list price

won’t ruffle any feathers for an initial offer. If the property has been sitting on the market for months, you can venture below that, but the bottom line is, you never know how low a seller will go, as they have different motivations for selling. Your Exclusive Buyer Agent should develop a Comprehensive Market Analysis to determine the market value of the property. This should be your guideline as to how much to offer and how high to go.

Q: How do I know if the property is a good deal?

While there’s no crystal ball on whether a certain home is a bargain and will appreciate, rest assured that with research, you can keep surprises to a minimum. The best way is to check out comps-what similar properties are selling for in the area.

Q: How quickly can I close?

If you are paying cash you can typically close in the time it takes to get the home inspected and have a lien, permit, and title search conducted. The new TRID requirements for home loans have extended the time required to get a mortgage. I advise all my buyers to not commit to a closing for less than 60 days from the effective date of the contract.

Q: Should I get a home inspection?

My only answer to this question is YES, YES, YES! A certified and licensed home inspector ( not your father in law) will look into the condition of the roof, electricity, heating and air, plumbing, among other functions and conditions of the property. Even if you are just purchasing land you should check for soil contamination, septic perkability, etc.

Q: Can I back out if I change my mind?

While buyers can always back out of a deal, doing so without good reason may forfeit their earnest money and full deposit. The form of contract you choose to use may provide you with different outs. Contingencies are great “escape clauses. For example, if you enter into an AS IS contract upon an unsatisfactory home inspection, the buyer can ask for their deposit back. Another contingency is “subject to appraisal.’” That means you can back out if the appraisal either ordered by your closing agent or your lender results in a valuation that is less than the agreed to purchase price.
Bear in mind that the more contingencies you include in your offer the less room you have to negotiate other terms and conditions of the contract with the Seller.

There is not question to small or unimportant when purchasing a home. There is a wealth of information available and your agent should assist you in getting your questions answered in a timely manner.

Filed under: Blog, boomerrang homebuyer, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Financing, Homebuyer Advice, House Closings, Mortgage Information, Real Estate, Real Estate Closings, real estate news, Real estate trends, Relocation, Retirement, western north carolina real estate by Kim Bregman
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What Homeowners Need To Know About Title Insurance

Protecting your home investment:

A home is usually the largest single investment any of us will ever make. When you purchase a home, you will purchase several types of insurance coverage to protect your home and personal property. Homeowners insurance protects against loss from fire, theft or wind damage. Flood insurance protects against rising water. And a unique coverage known as title insurance protects against hidden title hazards that may threaten your financial investment in your home.

Oversimplified, title insurance insures a homebuyer — and a mortgage lender — against loss resulting from title defects, whether these defects are known or unknown at the time of the sale or the refinance. In the language of the title industry, the insurance covers both “on record” and “off record” problems.

Protecting your largest single investment:

Title insurance is not as well understood as other types of home insurance, but it is just as important. When you purchase a home, instead of purchasing the actual building or land, you are really purchasing the title to the property – the right to occupy and use the space. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards.

Other types of insurance that protect your home focus on possible future events and charge an annual premium. On the other hand, title insurance protects against loss from hazards and defects that already exist in the title and is purchased with a one-time premium.

There are two basic kinds of title insurance:

Lender or mortgagee protection
Owner’s coverage

Most lenders require mortgagee title insurance as security for their investment in real estate, just as they may call for fire insurance and other types of coverage as investor protection. When title insurance is provided, lenders are willing to make mortgage money to lend.

Owner’s title insurance lasts as long as you, the policyholder – or your heirs – have an interest in the insured property.

When your seller purchased the house several years ago, his title insurance policy covered him — and his lender — for all risks (defects) that existed at time he took title; the policy did not cover future defects.

During the time the Seller owned the property did a mechanic place a mechanic’s lien against the property?

Did a creditor obtain a judgment against the seller and have that judgment recorded? Did the home get sold at a tax sale, without the seller’s knowledge? Did someone forge the seller’s name to a deed and sell the property to a third party? Or did someone accidentally place a lien against your property (Lot 657) when they really meant to place the lien on Lot 567?

Strange as it may sound, these things do happen. Your lender wants assurances that should you not be able to make the monthly mortgage payment, and the lender has to foreclose on your property, that you have clear title. Your new lender is willing to make you a loan; however, since you cannot categorically advise the lender that you have clear title, the lender will insist that you obtain a title insurance policy in favor of the lender.

What does your premium really pay for?

An important part of title insurance is its emphasis on risk elimination before insuring. This gives you, the policyholder, the best possible chance for avoiding title claim and loss.

Title insuring begins with a search of public land records affecting the real estate concerned. An examination is conducted by the title agent or attorney on behalf of its underwriter to determine whether the property is insurable.

The examination of evidence from a search is intended to fully report all material objections to the title. Frequently, documents that don’t clearly transfer title are found in the chain, or history that is assembled from the records in a search. Here are some examples of documents that can present concerns:

Deeds, wills and trusts that contain improper wording or incorrect names
Outstanding mortgages and judgments, or a lien against the property because the seller has not paid taxes
Easements that allow construction of a road or utility line
Pending legal action against the property that could affect a purchaser
Incorrect notary acknowledgments

Through the search and examination, title problems are disclosed so they can be corrected whenever possible. However, even the most careful preventative work cannot locate all hidden title hazards.

Hidden title hazards – your last defense

In spite of all the expertise and dedication that go into a title search and examination, hidden hazards can emerge after closing, resulting in unpleasant and costly surprises. Some examples of hazards include:

A forged signature on the deed, which would mean no transfer of ownership to you
An unknown heir of a previous owner who is claiming ownership of the property
Instruments executed under an expired or a fabricated power of attorney
Mistakes in the public records
A mortgage (deed of trust) is properly recorded on the land records, but there is no legal description identifying the property that is subject to the mortgage. As a result, creditors are not put on notice of the existence of this mortgage lien, and may make another loan, which will not have first-trust priority.
A deed (or other legal document) is improperly recorded with the wrong legal description.

The list, unfortunately, can go on and on. There are numerous instances where title to real estate has been found to be defective — either based on substantive grounds or technical, legal procedural reasons (such as improper indexing, misfiling or failure to comply with local recording requirements).

Title insurance offers financial protection against these and other covered title hazards. The title insurer will pay for defending against an attack on title as insured, and will either perfect the title or pay valid claims – all for a one-time charge at closing.

Your home is your most important investment. Before you go to closing, ask about your title insurance protection, and be sure to protect your home with an owner’s title insurance policy.

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Financing, Homebuyer Advice, House Closings, Real Estate, Real Estate Closings, real estate news, Real estate trends, Relocation, Title Insurance, western north carolina real estate by Kim Bregman
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You Are Under Contract…What’s Next?

You searched for homes over the course of months or even years. You endured a series of offers and counter offers, property disclosures, inspections and reports. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end.

But the story isn’t over yet. Here are some next steps to consider before you actually move in.

Plan any work well in advance:
Rarely does a buyer get a place that is truly in “move-in” condition. By the time you’ve signed a contract, you have lots of ideas about how you’ll live in this home, how you’ll customize it to suit you and your family, and what work needs to be done.

If the place needs work, don’t wait until you’ve closed to engage a painter, a floor re-finisher, or a general contractor. Either at your final walk-through or during a private appointment after you’ve removed your contingencies get the proper contractors in the house. Start getting bids for necessary work. If possible, have floor sanding, painting, demolition, or small fix-it work done before you move in. Real estate agents work with all kinds of tradespeople, so they’re often a great resource recommendations.

Set up the utilities:

Some people assume the utilities will work once they walk in on day one. While many utility companies have grace periods (the days between when the seller cancels service and the new owner calls), you can’t always assume this will be the case. If you have an out-of-town seller, they may have cancelled services the day they knew all contingencies were removed. In this instance, the grace period likely lapsed, and you may be stuck dealing with the electric company, waiting for an appointment or just being without power when you really want to start painting, fixing or cleaning.

The best plan is to call the utility companies and get service set up well before closing. If they haven’t received cancellation notice from the seller, let the seller know to take care of that.

Got the keys? Great, now change the locks:

Assume that every one and his brother has a set of keys to your new home. The seller’s real estate agent likely gave copies to his or her assistant, a painter, stager or even another agent at some point during the marketing period. That’s why the first person you should call after getting the keys is a locksmith.Spend the money to get all the locks changed right away. You’ll sleep better at night.

Hire a cleaning crew:

The Seller has an obligation to leave the property “broom clean”, but this in no way assures that the carpets have been cleaned, the floors mopped and the insides of the cabinets and drawers have been wiped down/ There’s nothing worse than showing up with the movers, dozens of boxes and your personal belongings only to discover the seller hadn’t had the place cleaned thoroughly.

Assume the worst and get a professional cleaning crew in there the minute after the closing. Even if the seller did clean, they may have done a poor job. You want to start life in your new home with a clean slate. The movers might make a mess while moving in. But the bones of the place will be sparkling clean and you won’t be scrambling to get cleaners in while the home is in a state of disarray as you unpack.

Have a handyman, small contractor or designer on call:

Moving in can take days, if not weeks, and is made up of the kind of stuff you wouldn’t wish on your worst enemy. Things like aligning your framed artwork, centering the couch in the living room or getting the large rug set up in the master bedroom can drive you crazy. Nailed multiple holes in the wall in an attempt to get your family photos lined up on the staircase? Not all of us are cut out to do this kind of stuff.

While it may seem like a luxury, investing a few hundred dollars in hiring someone to take orders, help with setting up and take over some of these mindless tasks will save time and potentially relieve you of a giant headache.

Thinking ahead is the way to go:

The journey to home buying could have been anything from fun to stressful and emotional. When the closing date draws near, you’re probably exhausted. But taking a little extra time to plan ahead will save you time, money and a lot of hassle. And it will make the move into your new home so much more satisfying.

Filed under: Blog, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Maintenance, Homebuyer Advice, House Closings, Real Estate, Real Estate Closings, real estate news, Relocation, western north carolina real estate by Kim Bregman
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