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When you’re buying a home, you will often make an earnest money deposit to the seller after they have accepted your offer. While they are not always required, this good faith deposit can give you an edge in a competitive market. Once you close on the home, the earnest money can be applied to your down payment. Let’s take a closer look at this practice and answer common questions that often come up.

How much earnest money should you offer?

One of the most frequent questions we get is about how much earnest money to offer. Typically, the earnest money deposit is one- to two percent of the purchase price. But this can vary depending on the market. When we’re in a seller’s market, like we are now, some buyers may opt to increase their earnest money deposit as a way to make their offer stand out. If you’re not sure how much earnest money to offer, talk to your real estate agent.

What does earnest money provide?

Once your offer has been accepted by the seller, they will take their home off the market. The earnest money helps to assure them that you’re operating in good faith and intend to close the deal. In many cases, your earnest money deposit is not refundable if you back out of the deal. This deposit provides the seller with compensation should that happen. Basically, your earnest money deposit shows that you’re serious about following through.

What happens to your earnest money?

A purchase agreement will be drawn up between you and the seller. This document will provide details about how the earnest money deposit is to be handled. Usually, the money is held in escrow until you close on the house. At closing, most buyers will use the earnest money as part of their down payment on the house.

Can a seller legally keep my earnest money?

There are certain situations where the seller is legally allowed to keep your earnest money deposit if you don’t go through with the deal. These terms will be laid out in the purchase agreement. For example, if you decide not to continue with the purchase because you found a home you like better, then the seller may be able to keep your earnest money. Before you sign your purchase agreement, make sure you understand exactly what you are agreeing to. If anything is confusing, then have your agent explain it.

When can my earnest money be refunded?

There are also situations where you can get your earnest money refunded if you don’t close the deal. These will also be laid out in the contract, and are usually referred to as contingencies. Common contingencies include:

• Mortgage contingency — If you’re unable to secure financing to buy the home, then you can get your earnest money returned.
• Inspection contingency — If the house inspection uncovers major problems, then you may be able to get your money back if you don’t follow through on the purchase.
• Appraisal contingency — If the home appraises for less than the purchase price and the deal falls through, you can get your earnest money back.

The bottom line

Your earnest money deposit is a valuable tool that can help your offer stand out among the competition. But before you sign any contracts, be sure you understand exactly what you’re agreeing to. When in doubt, ask your real estate agent to walk you through the contract before you sign.

Compliments of Virtual Results

Today’s real estate market is competitive for buyers. We’re currently experiencing a shortage of houses for sale. This coupled with high demand means that buyers may face many obstacles when making an offer on a home. As a buyer, it’s so important to be as prepared as possible when you’re ready to start your home search. Here’s what you need to do to get yourself ready.

Know what you need and want

In today’s real estate market, it is essential that you know what you’re looking for in a home. After all, how can you find what you want if you don’t know what you want? Before you begin your home search in earnest, get clear about what you need and what you want. Put your needs first. These could include certain neighborhoods, the number of bedrooms or bathrooms, or other home features that would be deal-breakers for you. You should also consider what you want, such as room for a backyard pool or a finished basement. While these items would be nice to have, they aren’t necessarily deal-breakers. Make a list of your needs and wants so that you can compare houses during your search.

Get pre-approved for a mortgage

Before you begin looking at homes, get pre-approved for a mortgage. You cannot be competitive in today’s market if you aren’t pre-approved for a mortgage (unless, of course, you’re going to pay all cash). Getting pre-approved for a mortgage tells a seller that you are a serious buyer. It is entirely possible that other buyers will be putting in offers for the same house as you. Your offer will not be considered unless you’re pre-approved.

Keep your emotions in check

Buying a home is one of the biggest financial transactions you will ever make. It’s important to think of it as a business deal. Yes, you are buying a home that will become the center of your family life. You will make many memories and celebrate many milestones in this house. But don’t get swept up into your emotions. Try to maintain a sense of detachment so that you can make sound decisions. If you’re struggling to maintain an emotional distance, then lean on your agent for help.

Prepare for a bidding war

As we said above, there aren’t enough homes for sale in today’s market to keep up with demand. The home you love will also be the object of affection for other buyers, too. Your offer will probably not be the only offer a seller receives. You should mentally prepare yourself for a bidding war when you put in an offer. Understand how the home buying process works so you know how you can sweeten your deal. And be clear about your budget. You need to know how much house you can afford so that you don’t overextend yourself.

Work with an expert

Finally, one of the best ways to be competitive in today’s market is to work with an expert real estate agent. Your agent should be extremely knowledgeable about your local market so they can advise you through every step of the process. The process of making an offer can move quickly, and having a pro on your side can help ease the stress.

Compliments of Virtual Results

What time of year is the best time of year to replace a roof? We will explore the topic in depth in this post.

When looking for a roofing company and choosing a new residential roof for your home can seem like a daunting task, but the process can proceed quicker than you might expect. Speed can be just the thing if you are trying to get your residential roofing completed before winter arrives and keeping a few key points in mind can really aid in your decision!

First, according to this expert in roofing in brampton you need to realize that not every material will work for every roof.

A flat roof would require a different material than a very steep roof. Materials like slate or tile are very heavy, so the structure of many homes would not be able to carry the load. Make sure you have roof repair kilsyth contact in case you need extra help. The roofers in Oley, PA are as well ready to come and help you.

Next, consider cost and curb appeal. If you are working on a tight budget, then asphalt roofing is the way to go. This is by far the most popular option as home front roofing since it is inexpensive, installation is very simple, and it comes in a wide variety of colors to match your home.

Frederick Micken mentioned that if you would like to consider a more long-term investment, your options would include wood, metal, tile, and slate. All of these options have a longer lifespan, but the materials cost more and are more expensive to install. According to https://www.baroofers.com often times, your home, existing roof, neighborhood, and energy needs will help make the decision for you. For instance, if you plan to install solar panels, you may need to adjust your roofing materials a bit.

Also, if you have a home owner’s association, it’s best to check in with them before getting bids, as many times they will have certain specifications for new roofs.

When many people think of staging a home, they focus on the bedrooms, living rooms, and kitchens. While these are important areas to address when staging your home to sell, there is one space that is often overlooked – your closets. Closet space is extremely important to many home buyers and should not be glossed over when you’re staging your home. Here’s what you need to do to stage your closets from local closet designers like a pro.

Do one closet at a time

You’ve probably got more than one closet in your home. In fact, when you start thinking about tackling all the closets you have, then you may start to feel a little overwhelmed. Take it one closet at a time. Start with an easy one first, like a linen closet, so you can get the hang of it before attempting to stage the walk-in closet in your master bedroom.

Remove all items from closet

The first thing you’ll want to do when staging your closet is to remove everything from it. Yes, we mean everything. As you remove items, decide what you want to keep, what you want to donate, and what can be tossed. Have boxes nearby for those things you want to get rid of so you can easily move them out of the house.

Aim to reduce items in each closet by half

Buyers want to see spacious closets. Your closets will not look very big if they are completely stuffed with your personal items. Aim to reduce the number of items in your closet by at least half. When you’re staging your closet, you want to demonstrate how the closet can be used. Only keep universal items in the closet, like clothes and shoes. The closet should be more like a blank slate so potential buyers can imagine their own belongings inside. After you’ve determined what items you want to keep but don’t want to use for staging, box up those items and put them in storage.

Clean and paint

Before returning any items to the closet, it’s time to thoroughly clean it. Think about it — when was the last time you vacuumed or wiped down the shelves? Once you’ve finished cleaning, you should paint the closet in a bright, neutral color like white or beige. Let the closet air out and replace any burnt-out light bulbs.

Arrange items neatly

Now the fun part starts! When you’re staging your closet with the remaining items, you want to keep things as tidy as possible. You should always be able to see the back of the closet wall when you look inside, so don’t stuff things in there. Keep the floor as clear as possible — no shoes or tote bags should rest on the floor. Use matching hangers to hang clothes and keep at least one inch of space between each hanger. Make sure all hangers face the same way. Arrange clothes and linens by color and style and use baskets to corral smaller items like belts and scarves.

Well-staged closets are a home-run with today’s buyers. Don’t forget this important step when you’re staging your home to sell!

Compliments of Virtual Results

When you’re buying a home, you’re not just buying the house itself. You’re also buying the neighborhood. The community you live in has a big impact on both your quality of life and the value of your home. That’s why it’s important to choose a home with great neighborhood amenities — even if you don’t plan on using all of them. These are the neighborhood amenities you should look for when buying a home. In my case, I looked for a Realtor near me like eXp Realty to make sure I had counsel during the process.

Schools

Regardless of whether or not you have school-age children, you should consider the quality of the nearby schools when you’re buying a home. Good schools have a positive effect on home values. They also tend to be in neighborhoods with high community engagement.

Parks and green spaces

Another neighborhood amenity that you should look for are parks and green spaces. J’Den Condo offers ample green spaces, creating a serene and tranquil living environment. These are great places for kids to play, to engage in exercise, and to experience nature. They’ve become especially important since the pandemic began, giving people a chance to safely get out of the house and enjoy some fresh air. If you’re someone who’s looking for a house that has beautiful green spaces and gardens, you should check out houses for sale Crewe.

Markets

Being close to the grocery store is another amenity that you should consider when buying a home. Unless you regularly have your groceries delivered, going to the market is something you’ll probably do at least once a week. Having access to quality food nearby is a desirable perk for most homeowners and can affect your home value.

Fitness centers

Are there places to exercise near the home you want to buy? If fitness is important to you, then you’ll want to check out the local gyms, especially if you don’t want to exercise outside. Being close to a state-of-the-art gym can be attractive to many buyers down the line when it’s time for you to sell. I also saw some fantastic sprung flooring for a gym recently, so if you need such flooring then check that out.

Transportation

How easy is it to get to the home? You’ll want to look at how close the house is to major roads. For many homebuyers, easy access to the freeway is very important. You’ll also want to consider public transportation options that are nearby. Is the home close to bus routes or subway stations? Lentor Hills condo is 6 mins walk to Lentor MRT. And don’t forget about airports. If you get the itch to travel, then you’ll want to be within a reasonable distance from a commercial airport.

Nightlife

Do you like to get out of the house at night and mingle? Then take a look at how close the home is to bars, restaurants, and nightclubs. Knowing that you can easily walk or take a rideshare to local hotspots can be favorable to many buyers.

Cultural attractions

In addition to nightlife, what kinds of cultural attractions are nearby? Having access to world-class destinations can be exciting for many homeowners, and provides endless opportunities for recreation. Research what museums, aquariums, amusement parks, theaters, and other venues are nearby when you’re buying a home.

HOA perks

Finally, if you’re looking at a home or condo that’s part of a homeowners association (HOA), find out what kind of perks that you’ll have access to. This could include a community pool with a Pool Pump Installation, playground, golf course, or clubhouse. Just remember that you’ll be paying monthly dues when you live in this kind of planned community in order to access these perks. If the properties are connected to the municipal sewer system, they may also be in charge of hiring professionals for sewer line repair and maintenance.

Compliments of Virtual Results

First impressions are important. That’s why your home must have great curb appeal when you’re selling. The outside of your home is the first thing that potential buyers will see. It can help them decide whether or not they’d like to view the inside as well. Enhance your property’s curb appeal with Eco Landscapes, Dublin’s leading driveway and patio installers.

Here are some questions about curb appeal that we frequently get, and what you need to know to make your home stand out.

What is curb appeal?

“Curb appeal” is a phrase often associated with real estate. But what does it mean? Curb appeal is what your home looks like from the street. It’s a combination of design elements that can create a pleasing exterior. When your home has curb appeal, it is often described as being cute, inviting, charming, elegant, sophisticated, or welcoming.

What is curb appeal so important?

Curb appeal is crucial when you’re selling your home. Often, the exterior of your home is the first thing a potential buyer will see — either online or when they’re driving by. They will form an opinion based on what the outside of your home looks like, which will help them decide if they want to see more. But that isn’t the only reason that curb appeal is so important. It can actually increase the value of your home. In fact, it is estimated that curb appeal can add as much as 7 percent to your home’s value.

How can I improve my home’s curb appeal?

The great news is that curb appeal is one of the easiest things to create when you’re selling your home. Here are some ideas for creating excellent curb appeal when you’re selling:

• Stage the area around your front door with plants, new house numbers, and a fresh coat of paint.
• Plant window boxes with fresh, colorful flowers and consider enhancing the functionality and aesthetic of your outdoor space by installing covered walkways canopies.
• Add exterior lights to sidewalks and driveways. In addition, an asphalt contractor can be hired if there are cracks on the driveway.
• Clean up the landscaping including trimming trees and bushes, pulling weeds, and mowing the lawn.
• A roof replacement may also help improve not only the curb appeal of your property, but also the value of your home.

What mistakes should I avoid?

While it’s easy to add curb appeal to your home, there are some mistakes that you should avoid. These include:

• Completing redoing the landscape. You only need to concentrate on a few key areas to make a real difference in your curb appeal.
• Choosing paint colors that are too bright or not currently popular. Opt instead for neutral shades that blend well with your neighborhood.
• Making your landscape very personal — it should appeal to the widest swath of buyers as possible.
• Not committing to the upkeep of your curb appeal while your home is for sale. Be sure to have regular residential lawn mowing services and keep the plants and flowers watered while your property is on the market. If you really can’t keep up with lawn maintenance, consider installing a pet-friendly artificial grass which requires much less maintenance. Visit https://www.syntheticturfpitchmaintenance.co.uk/ for more information on how to take care of artificial turf.

How much do I need to spend?

Adding some strategic enhancements to your home’s exterior when you sell both easy and budget-friendly. In fact, you shouldn’t spend too much on updating your home’s curb appeal. Many of the upgrades you can make yourself, and you shouldn’t need to spend more than a few hundred dollars to really make a difference in your home’s aesthetic.

When you’re preparing to buy a home, you know to expect certain expenses like mortgage and insurance payments. But there are many other costs associated with buying and owning a home that can derail you financially if you aren’t prepared. Let’s take a look at some of the hidden costs of owning a home. Knowing what to expect will help ensure that you don’t overextend yourself.

Closing costs

First of all, let’s talk about what you’ll be expected to pay when you close on a home. Some buyers, especially first-time buyers, are shocked when they learn what fees come due when closing on their purchase. You should expect to pay up to five percent of your purchase price on various fees including mortgage interest, lender application fees, escrow payments for taxes and insurance, title insurance, and recording fees.

Property taxes

Property taxes are another expense that can take homeowners by surprise. The amount you pay in property taxes varies from one city to the next. Depending on where you live, this can amount to several hundred dollars a month. The average rate nationwide is about 1.1 percent of the home’s value but can vary widely from neighborhood to neighborhood. You can expect to pay property taxes the entire time you own your home, even after you’ve paid it off.

HOA fees

If you live in a planned community, then you will likely also be on the hook for HOA or condo fees. These are typically charged monthly or quarterly and cover expenses for services that the entire community uses, like snow plowing or mowing. You may even be charged special assessments from time to time if your association needs to make improvements such as installing a new security system or making repairs to sidewalks.

Utilities

Don’t underestimate how much you may need to spend each month on basic utilities. These fees can often amount to hundreds of dollars each month and can vary from month to month. In the spring your electric bill may be considerably less than it is during a winter cold snap. If you know someone in the neighborhood where you’re looking to buy, you can ask them how much they spend a month on utilities on average. Don’t forget to include things like internet access and cable tv services, and make sure to check for the best and affordable deals offered by an internet and tv provider.

Maintenance and repairs

The typical homeowner spends about one percent of the value of their home on yearly maintenance and repairs. But this number can also vary depending on what kind of home you own. Single-family residences are typically more expensive than condos or attached houses. Common maintenance expenses include lawn care, house cleaning, and gutter cleaning. Some larger repairs can be quite costly, including replacing a furnace or roof. You should also look out for any structural integrity issues. To make your home more durable and resistant to seismic activity, you may want to look into Earthquake Retrofitting Services. Here is why Fire Barriers Are An Ideal Solution For California Critical Infrastructure.

Things homeowners insurance doesn’t cover

While homeowners insurance is an expected expense, it doesn’t cover everything. You may end up having to pay for costly repairs for things that are considered “acts of God”. For this reason, you may need to pick up additional insurance like flood or earthquake insurance. This kind of insurance can be expensive, especially if you live in an area that is prone to these types of disasters.

Compliments of Virtual Results

Hooray, spring is finally here! Did the winter feel like it was a year long? It’s time to shake off those cold-weather blues and start getting your home ready for warmer weather. While spring cleaning may seem like a daunting task after months inside, you can actually conquer it quickly. Here’s how you can tackle your spring clean in just one weekend.

Friday — prep

The key to completing your spring clean in just one weekend is to be prepared. It’s such a bummer to run out of supplies halfway through the job. For this reason, you should inventory what you’ve got on hand before you get things underway. This gives you a chance to stock up so that you aren’t sidelined during the process. You can start this process a week early so you can order supplies online. Or save it for a Friday night and a quick trip to the store to get what you need. In addition to getting all your supplies ready, you should also designate a place near the front door where you’ll stash items you want to donate. That will make it much easier to get those things out the door on your next trip out.

Saturday morning — start with the bedroom

Saturday morning starts with the bedroom. The first thing you want to do is strip the bed and throw those linens in the wash. If your curtains can be laundered, then throw those in as well. Curtains that can’t be washed should be vacuumed thoroughly. Flip your mattress and remake the bed with fresh sheets and a lighter comforter for warmer months. Vacuum from ceiling to floor, making sure to get in each of the corners where cobwebs tend to hide. Dust and polish all surfaces. Repeat all the steps above for each bedroom.

Saturday afternoon/evening — move to the bathroom

Once the bedrooms are complete, it’s time to tackle the bathroom. Wash the shower curtain if possible. Clean the bathtub, shower, toilet, and sinks. Go through bathroom cabinets and drawers and toss items that have expired or that you no longer use. Sweep or mop the floor, and repeat for every bathroom in your house. Thorough cleaning of your bathroom may also help you detect any hidden plumbing issues that may require the help of professional plumbers who can provide emergency plumbing services. Look for a reliable plumber to help you inspect your whole plumbing system and repair any damages.

Are you wondering Why is the Toilet Flange Leaking? According to Fox Plumbing & Heating, broken toilet flanges are caused by typical wear and tear. Improper maintenance and tune-ups can lead to malfunction and damage.

Sunday morning — tackle the kitchen

Start Sunday morning by cleaning the stove and oven. If it’s particularly grimy, then you may want to spray it with oven cleaner on Saturday evening so it has time to work its magic. Defrost the freezer if necessary and deep clean the refrigerator, tossing expired or rotten food. Clean the microwave and other appliances and wipe down all surfaces. Mop the floor and clean up any pet areas nearby. Take out the trash and recycling.

Sunday afternoon — finish with living areas

Finish up your spring cleaning weekend by concentrating on living and entertaining areas. Vacuum curtains, furniture, and floors. Dust all surfaces from the top down.

Sunday evening — relax and enjoy

By the time Sunday evening arrives, it’s time for you to relax and enjoy the fruits of your labor! Open the windows to let in a little fresh air and take a hot bath in your sparkling clean tub to relax.

Compliments of Virtual Results

There’s no denying that a home with mature trees in the yard can be very appealing. They provide shade on a hot summer’s day or beautiful foliage in the fall. Mature trees add a sense of sophistication and permanence to a home and can boost its value. But big trees can also cause major problems. If you’re buying a home with big trees, then this is what you need to consider as per the local tree doctor.

It could be diseased or damaged

Big trees are often decades old, which means they’ve had plenty of time to become diseased or damaged. If you’re looking at a home with mature trees in the yard, then you need to look for indications that it may be having problems which is why we recommend getting some tips at https://njapps.co.uk/.

Check for holes in the trunk, which could be a sign of infestation. Also, look for fractures and be suspicious of any tree that has a pronounced lean — it could topple over soon. Professionals from Alien Tree Service can quickly determine whether a tree is safe or dangerous to keep if you are not comfortable with making the decision yourself.

Big trees can make big messes

Another thing to consider when buying a home with large trees is that they can create big messes. If the tree loses its leaves in the fall, then think about how often you’ll need to rake to keep your yard tidy. Also, research what kinds of trees are in the yard. Do they shed seeds in spring or acorns in the fall? You’ll need to think about how much time you want to invest in looking after the mess that a tree can create. Consider tree trimming and tree pruning services to avoid this.

Branches can be dangerous

The branches of a big tree can also be quite treacherous. Large branches can fall off in a storm. If branches are hanging over your roof or driveway, then they have the potential to cause serious damage or injury. This is especially true for dead branches. You’ll need to invest in having the dead material trimmed from the tree when you move in to avoid serious problems down the line. Tree Trimming Yuma does a great job at this.

Roots can cause problems

Big trees don’t simply consist of what you see above ground. Those mature trees have extensive root systems that can reach three times farther than the foliage itself. Roots can cause lots of problems including growing into pipes, utility lines, pavement, or even the foundation of your home, as well as septic tank damage that might require new septic tank installation. They can make it challenging to plant anything else as new plants will be competing with the established roots of the tree for food. You’ll need to call orlando stump grinding professionals for proper tree removal, you should always read review of the company that your are going to be hiring.

It can impact your garden

Do you have dreams of creating a vegetable garden in your new home? Then consider how much shade those big trees create. A mature tree can cast considerable shade over your yard, making it almost impossible to grow anything underneath except for the most shade-tolerant plants. Mature trees can also kill the grass beneath them. If you have your heart set on a lush, green lawn then a large tree can make that almost impossible without help from the best tree trimmers in Riverside County.

You may need another inspection

Finally, when you’re buying a home with big trees you may need another inspection during the closing process. You should consider hiring a professional arborist to assess the condition of the tree and recommend if you should trim it or remove it altogether. A good arborist can help you decide whether or not that beautiful mature tree in the yard is actually an asset or a liability.

Staging your home gives it an extra edge when you’re selling. It makes it more attractive to potential buyers and easier for them to see how they can live in the space. But it often requires decluttering, depersonalizing, and deep cleaning your home. You may also need to move a large percentage of your belongings into storage during the process. So what do you do when you have to live in your staged home? Here are the best tips we’ve found for surviving this unique experience.

Make a cleaning schedule

Keeping your staged home clean while you’re living in it is probably the biggest challenge you will face. Your home must be spotless pretty much all the time. You never know when a potential buyer will want to see your place on short notice. For this reason, you should create a cleaning schedule and stick to it. Before every showing, put away clutter, wipe down all surfaces, dust, and vacuum. It may be worth it to hire a commercial cleaning company for a professional cleaning service for the duration of the time your home is on the market. Furthermore, if there are old rugs in your home, you may have them cleaned by a professional rug cleaning company.

Use bins and totes to your advantage

Of course, you have items that you need to use every day, like your toothbrush, toothpaste, and soap. Unfortunately, buyers don’t want to see these everyday items when touring your home. That’s why bins and totes can be used to your advantage. Keep all your regularly used items in containers that can easily be stashed out of sight at a moment’s notice. You may also rent a small self storage unit where you can keep your belongings while you’re showing your home to potential buyers.

Stay on top of smells

Just because you’re living in your staged home doesn’t mean you have to eat out every night. But it does mean you need to stay on top of cooking smells. You can combat these odors by opening windows and using natural deodorizers like stovetop potpourri. Lightly scented candles or an essential oil diffuser can also create pleasant smells when buyers are scheduled to arrive.

Strategically schedule showings

One of the trickiest aspects of living in your staged home is scheduling showings. It will be inconvenient to have buyers dropping in with little notice at any time of the day or night. That’s why you may want to consider creating blocks of time a few days a week that your agent can use to schedule showings. It will help to cut down on those frantic moments when you need to vacate as quickly as possible.

Make arrangements for your pets

Finally, you need to consider what you’ll do with your pets when you’re living in your staged home. If possible, you may want to board your pet or have it live with family or friends during the selling process. Pets should not be left in your home during a showing. You should also eliminate any evidence of your pets when you’re staging — no stinky litter boxes or unsightly crates. This can be a difficult process to negotiate while you’re living in your staged home, but not all buyers are friendly toward pets. Give yourself plenty of time to come up with a plan before buyers start to arrive.

Compliments of Virtual Results