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Moving during winter is probably not something you hoped you’d ever do, but sometimes it’s unavoidable. However, moving in winter has some perks. Since fewer people move during the cold season, you’ll likely get more personalized attention and lower rates from your residential movers.  You’re also likely to enjoy more flexible scheduling.

If you find yourself confronted with a winter move, don’t fret. Follow these tips to make sure your move is as effortless as possible.

Check the weather – and then check again

Winter weather can be unpredictable, and poor weather can wreak havoc on your moving plans. Keep checking the weather in the weeks leading up to the move, and then check every day in the few days before. If it looks like a big storm is going to bear down, it might be better to delay a day or two if possible.

Keep paths clear of snow and ice

Carrying furniture from the truck to the house can be hard, but it’s doubly so when there’s snow and ice. Keep winter supplies like shovels and ice scrapers handy and clear sidewalks and driveways. Make sure there’s a spot cleared in the driveway or street for the moving truck, and that’s there is a clear path to the door.

Protect the floors

Winter weather often churns up mud and debris, and you don’t want to be tracking that into either your old house or your new one. Make sure there are mats in front of the door and cover floors with tarps or heavy cardboard to keep them clean.

Keep sheets and blankets on hand

Sometimes there’s no way to avoid bad weather. Keep sheets and blankets on hand, that way if it begins to rain or snow while you’re moving your belongings inside, you have something to cover them with. This is especially important if you have any antiques or other valuables that could get damaged if they get wet.

Stock up on extra gloves

Your hands will be the first things to get very cold on moving day, and your gloves could easily get wet or dirty before the day is through. Keep spare pairs of gloves on hand so that you can treat your fingers to a warm, dry pair as needed.

Make sure the utilities are on

It may go without saying, but make sure the utilities in your new home are connected when you arrive. However, don’t turn on the heat on moving day. Your furnace will work overtime to keep the house warm, while all that toasty air blows out the front door. Instead, hook up a space heater in the bathroom and keep the door closed. You may also need to check the boiler to determine if it’s working properly or if it needs a boiler repair service with the help of professional boiler repair specialists.

Have plenty of warm drinks at the ready

Nothing warms a chill like fresh coffee or hot chocolate, so be sure to keep warm drinks available all day. Not only will up it warm up your insides (and your hands), it can do a lot to warm your spirit on a busy and sometimes stressful day.

Compliments of Virtual Results

You’ve found a house you love and you’re ready to make an offer. Unfortunately, you find out from your real estate agent that the house is under contract – meaning the seller has already accepted another offer. While it can be frustrating to have someone else beat you to the punch, all is not lost. In cases like these, it might make sense to put in a backup offer.

What is a backup offer?

A backup offer is exactly what it sounds like – a fallback should the deal not close with the first buyer. This allows you to submit a contract to the seller with an addendum that states if the first contract should be cancelled for any reason, that your offer is the very next one that will be accepted. The backup offer needs to be signed by both the buyer and seller and will also often include an earnest money deposit.

Why might the first contract fall through?

In most cases, the first contract probably has contingencies. These are certain requirements that must be met before the sale of the house can proceed. Typical contingencies include:

• The buyer selling their current home.
• The home passing inspection.
• The home appraising for the sale price and not lower.
• The buyer securing a loan.

Any one of these contingencies is a potential downfall that could kill the sale. The home would then fall out of contract and the seller would put the property back on the market.

Is a backup offer legally binding?

Just like the first contract, a backup offer is legally binding as long as both parties have signed it. If the primary contract is cancelled for any reason, then the backup offer becomes the purchase agreement. At this point, you will not be able to walk away from the sale without forfeiting your earnest money deposit, unless you specifically allow for that contingency in the contract.

What are the benefits of a backup offer?

In some markets where bidding wars are common, having an accepted backup offer means you will not have to go through a stressful bidding war should the home come back on the market. And if it’s a home you love, having that security can be really important.

Are there any drawbacks to a backup offer?

In some cases, a backup offer can provide extra motivation for the first sale to close quickly. You will also want to consider if you can afford to have your earnest money deposit tied up for any length of time. If you continue to look at other homes while you’re waiting to hear about your backup offer, you may also lose your earnest money should you decide to buy another house.  Waiting on a backup offer can also indefinitely postpone your moving date, and if the first contract falls through on a contingency such as a leaky roof, that’s an issue that you’re going to inherit.

If you’ve found your dream home but it’s already under contract, talk to your real estate agent about making a backup offer. They can discuss the pros and cons with you in detail and help you decide if it’s the right move.

Compliments of Virtual Results

If you’re selling your home, then an open house is likely going to be one of the tools your agent uses to market your property to prospective buyers. An open house is a great way to show your home to as many buyers as possible, so it’s important to take time to prepare. Here’s what you should do in the days leading up to the open house so that you can make the most of the opportunity.

Clean and repair

First impressions count, so be sure that your home is ready to impress. Repair any roofing damages and other items that aren’t functioning, such as loose doorknobs and leaky faucets. Consider giving rooms a fresh coat of neutral paint. Replace worn items like the mailbox or house numbers. If possible, hire professional cleaners to scrub all the nooks and crannies. This includes power-washing the exterior and cleaning the windows. Your home should be sparkling when prospective buyers finally arrive.

Remove clutter and stage

After you’ve cleaned and repaired, make a thorough sweep of your home to remove clutter. This includes any personal items like family photos and sports memorabilia. You should also remove bulky furniture and clean out the closets. Remember, you want to emphasize how much space your home has. If your furniture is worn or outdated, consider having your home professionally staged. A well staged home allows buyers to imagine what it would be like for them to live there, and can sell your home more quickly and for a better price.

Advertise

The key to hosting a successful open house is to get as many serious buyers there as possible, but they can’t come if they don’t know about it. Make sure your agent is listing your open house in the multiple listing service. Advertise on the major online portals for real estate, including Craigslist. Make flyers and pass them around to your neighbors. Post in your local Nextdoor.com group to let people know, and encourage them to spread the word. Create a Facebook event and encourage your network to share it with their friends. You never know who might be looking for a home in your neighborhood.

Provide refreshments

Don’t be afraid to provide snacks and drinks on the day of the open house. Baking a fresh batch of cookies makes your home smell wonderful, and giving people an opportunity to linger with a drink and a snack makes it easier for them to envision themselves in your home. It also gives buyers the chance to speak with your agent and have some of their questions answered.

Get feedback

Though as a seller you should not attend your own open house, do ask your agent for feedback once it’s over. Your agent spent the day listening to prospective buyers’ impressions of your home, and this can be valuable information. Does the house feel too cramped? Are there any off-putting smells? Is there enough light? Is your asking price on par with what buyers are expecting? Having this information will allow you to make adjustments, so that future buyers are more likely to put in an offer.

By taking a little time to prepare for your upcoming open house, you’ll be well on your way to a successful sale!

Compliments of Virtual Results

You’re ready to sell, but you know that your home could use some updates to attract serious buyers. But you don’t want to invest significant time or money, which is understandable. Major remodels don’t always bring a desired return on investment when you’re selling. So what do you do?

Here are some great suggestions to spruce up the rooms in your house when you’re staging for a sale. These ideas require minimal time and effort and will give you the biggest bang for your buck.

Turn the office into a bedroom

Does your home have an extra room you’ve been using as an office, an exercise room, or even a storage space? Turn that extra room into a bedroom. Having another bedroom can be a selling point for prospective buyers with growing families. Remove clutter and replace it with a simple bed, or even a set of twin beds. Add simple touches with colorful comforters, throw pillows and art.

Turn the basement into living space

If you’re lucky enough to have a basement, turn that unused space into viable living space. If your basement is unfinished, take time to clean, de-clutter and paint. Or you can transform it into an Edmonton legal basement suite that renters can appreciate. This could include a game room, an office space, a home gym, a man cave or even living quarters for an elderly parent or teen.

Turn the back entry into a mudroom

Do you have extra space near your back door? Then why not turn it into a mudroom of sorts? Every family needs a place that’s a catchall for coats, boots, backpacks and mail. Create a space for that with hooks, a bench and some cubbies for baskets.

Create a laundry room

If your washer and dryer are tucked away in a corner, a closet or the basement, invest time in making that space more inviting. After all, there’s no doubt that most families spend hours a week on laundry chores. First clean and de-clutter the space. Apply a fresh coat of paint to make the space light and bright. Install shelves around the washer and dryer for laundry supplies. Add some personality with stylish baskets and wall art. You want to create a dedicated space that is welcoming and that prospective buyers will actually want to spend time in.

Give the kitchen and bathroom a facelift

Kitchens and bathrooms are big selling points for buyers. They are also expensive to renovate. Consider giving these rooms extra attention with a cosmetic facelift that is much less expensive than a complete overhaul. Paint walls and cabinets with a fresh coat of neutral colored paint. Switch out hardware to something simple and contemporary or consider a tub to shower conversion. If countertops are damaged or outdated, consider getting a new kitchen countertop installation and choose something clean and modern. Enhance the lighting by switching out fixtures. You can even update appliances with paint that is specifically formulated for them. Changing the plumbing fixtures with the help of residential plumbing contractors is also a great idea to reinvent your bathroom or kitchen.

If you’re getting ready to sell and want to refresh your home without spending a fortune, consider one or all of the options above. That little bit of extra time and energy could pay off big in the end!

Compliments of Virtual Results

If you’re in the market for a new home, perhaps you’ve browsed listings and come across a foreclosure or two that you like. Maybe you’ve even noticed that some of these homes have listing prices that are below the typical market value in your area.

Buying a foreclosed home can be a great investment – but it also comes with its own set of risks and challenges. Here’s what you need to know if you’re thinking about purchasing a foreclosure.

What is a foreclosure?

First, it makes sense to understand exactly what a foreclosure is. A foreclosure is a property that has been repossessed by a lender because of nonpayment. These lenders, typically banks, then sell off the property to recoup their losses.

Pros of buying a foreclosure

One of the biggest reasons that homebuyers purchase foreclosures is the potential to score a great home at a discounted price. Generally, banks are eager to get these properties off their books and are willing to let the home go for a price below comps in the area. Other potential advantages to buying a foreclosure include:

• Potential to get a better house for the price – Since lenders often price foreclosures for a quick sale, buyers may be able to score a larger or nicer house than they otherwise would be able to afford. Foreclosures can be found at every price point, from starter homes to luxury mansions.
• Upgrades can pay off big – If you’re willing to put some sweat equity into your foreclosure, the return you’ll see on the property’s value could be significant.

Cons of buying a foreclosure

While scoring a great house at a low price seems like enough motivation to buy a foreclosure, there are certainly some disadvantages you should consider. These include:

• You may have to pay cash – Some foreclosures are sold at auction to the highest bidder. If you want to guarantee you win the bid, be prepared to pay all cash on the spot.
• You may not get to inspect the house – Most foreclosures are sold as-is, meaning that the buyer absorbs any responsibility for repairs, liens or back payments on utilities. You may not have an opportunity to inspect the home before the purchase, so you will assume the risk for whatever you may find once you get inside.
• You may not qualify for a loan – Some lenders have restrictions on distressed properties, making financing a foreclosure a challenge.
• The property may need serious repair – If the home has been vacant for any period of time, serious issues could have occurred. It’s possible that the property has been vandalized or looted. The previous owner may not have kept up maintenance because of financial hardship. With the utilities shut off, pipes could have frozen, pests could have invaded and cracks may have formed in the walls and foundation, which would then need necessary foundation repair service. If you see a mouse scurry under your sink, you know you’re dealing with a rodent infestation and it’s time to call a home pest control company that offers different types of pest control services or search online for an exterminator near me immediately. It might be unpleasant to deal with, but leaving the issue untreated will only exacerbate the damage.
• If you live near Minnesota and you seek for the top pest control company, you can check them out online now.

Is a foreclosure right for you?

The pros and cons listed above are just some of the issues you should consider when buying a foreclosure. If you’re serious about purchasing a distressed property, make sure to do your research and prepare for a closing process that can be more stressful and complex than a traditional sale.

Compliments of Virtual Results

If you’re getting ready to move to your new home, you’ve no doubt been advised to research companies that provide moving cleaning and relocation services. While it may seem like a huge inconvenience to spend time vetting movers, there are some out there that are less than honest. Keep a look out for these common moving scams and avoid them at all costs.

Low-ball estimates

If you’ve contacted a moving company and they are willing to give you an estimate without actually inspecting your home, be wary. Most people have more possessions than they realize, and moving companies generally factor in their weight and the amount of space they take up.  You will not get an accurate cost estimate if the moving company does not inspect your belongings themselves.

Also be on the lookout for moving companies who only do a cursory glance at your belongings without asking specific questions about what you intend to take with you and what you’ll leave behind. You may likely get a low quote that doesn’t accurately reflect what you actually have. You may find yourself in a pickle on moving day when the cost rises dramatically. Or worse, the company could hold your belongings hostage until you pay the difference.

Asking for a large deposit

Good moving companies will not request a large deposit up front for their services. Most reputable companies expect payment upon delivery. Those that collect deposits are often the same ones who don’t show up on moving day, or who take much longer to deliver your items to their final destination.

Different names

If a company has received complaints to the Better Business Bureau, they will often get around them by changing their name. When researching movers, make sure they answer the phone with the full name of the company. Ask for local references and follow up with them. Get all the names the company does business as and find out their license numbers and if they are properly insured. Research the company online to see if there are any complaints or bad reviews posted.

Hidden fees

Some moving companies inflate the final bill by tacking on hidden fees. Be sure to request an itemized bill and look for charges that weren’t discussed beforehand. You could be billed for living in a two-story house, living on a narrow street that won’t fit the truck, or having to park the truck more than a certain distance from the front door.

Incomplete contracts

If a moving company asks you to sign a blank or partially completed contract that they’ll fill in later, decline and find another company. You want all the details spelled out from the beginning, including the delivery date, price and under what conditions additional fees may be incurred.

While it may seem a little daunting to research and hire a moving company, doing your due diligence will ensure that your move goes as smoothly and quickly as possible. The peace of mind you’ll gain is more than worth the extra time to find the best and most reputable moving company for your budget.

You’ve saved up the money for a down payment and are finally ready to make your dream of owning a home a reality. Congratulations! Buying a house is one of the most exciting – and one of the most stressful – events in your life. If you’ve done your due diligence, you’ve shopped around for a mortgage and secured a great interest rate. But did you know it’s also possible to save money on your closing costs? Here’s how.

Shop around

Lenders are required to provide you with a three-page Loan Estimate that includes your closing costs, which are fees that generally add up to as much as five percent of the purchase price. You can use these estimates to shop around and potentially save yourself thousands of dollars. You can also negotiate to have one lender match the lower closing costs of another.

In addition, a third party provider can perform some of the services required for closing. Take time to research options other than those provided by the lender for services such as pest inspection or title insurance. You’ll often find a lower price elsewhere.

Evaluate and negotiate

Once you’ve received the Loan Estimate, go over it in detail. Ask the lender what each fee covers. This is a good way to discover if the estimate has been padded with unnecessary or redundant fees. At this point, you can negotiate to have some of these fees reduced or removed.

Three days prior to closing, you will receive a Closing Disclosure. Double check to verify that the fees listed on your Loan Estimate match those on the Closing Disclosure or have increased no more than the standard limit of ten percent if you’ve used the lender’s service providers. If they have, the lender is required to reimburse you the difference.

Ask if seller will share costs

Another way to save on your costs at closing is to ask if the seller would be willing to pick up a portion of the fees. While this is unlikely in a tight market and isn’t advisable in a bidding war, if a seller is particularly motivated they may agree. You will need to check with your lender, as some have caps on how much a seller can contribute towards the closing costs. You can either request to have the seller pay for certain services, such as the home inspection, or for a specific dollar amount. Ask your real estate agent what would be the best course of action in your specific situation.

Enlist the help of a pro

Navigating the home buying process can be daunting. That’s why it’s helpful to have a trusted professional at your side. An agent with experience in your local market can help you through the closing process. They’ll take the time to explain the costs so that you understand, and help find ways to save you money in the long run. In the end, you’ll finally have that house you’ve always dreamed of, and at a price that fits well within your budget.

Compliments of Virtual Results

Buying a home is an emotional, complex and often stressful process. This is doubly so if you’re buying in one of the country’s hottest real estate markets, where there are more buyers than there are houses available. It’s quite likely in these situations that you’ll find yourself in a bidding war with other buyers. If you want to ensure your bid is the winning offer, follow these strategies.

Pay with cash

This won’t be possible for everyone, but if you have the cash, make an all-cash offer. In a particularly hot market, cash will always win out. Sellers prefer buyers who pay cash because the deal will not be dependent on whether or not the buyer can secure financing.

Get preapproved for a mortgage

If paying all cash is not an option, you must get preapproved for a mortgage before making an offer. You’ll get a letter to submit with your offer that shows the seller how much money you qualify to borrow. In a scenario where a seller receives multiple bids, you’ll automatically count yourself out if you are not pre-approved.

Study the market

Before you begin your search in earnest with the intent to make an offer, spend some time researching online listings for the neighborhood. Know what kinds of houses are available, what the inventory is like, and what the prices tend to be.

Submit the first and best offer

In a tight market, it pays to be aggressive. When you find a house you like, be the first to make an offer. Not only that, but make sure your offer is the best. If the seller has listed the home at an appropriate price, be prepared to offer what they are asking.

Include an escalation clause

If you’re willing to go higher with your offer, consider including an escalation clause. This gives you the option to increase your offer should another buyer bid more than you. It also signals to the seller that you are serious about your offer. However, you should know what your price ceiling is, and stick to it. Otherwise you run the risk of the appraisal coming in for less than your offer, which could affect your ability to secure a loan.

Limit contingencies

Contingencies let a buyer out of a contract if certain issues aren’t addressed. Sometimes buyers want to include a contingency that the sale only goes through if their own house sells first, or if certain items are repaired. If you know a house is going to net multiple offers, you must limit the number of contingencies if you hope to win a bidding war. Sellers will generally choose offers with the fewest contingencies.

Get personal

Do you really love the home? Can you imagine your kids enjoying that backyard tree house, or see your dog loving the enormous backyard? Then write a letter to the seller explaining your reasons for wanting the house. Appealing to a seller’s emotions can be incredibly persuasive, and you may be rewarded with the winning bid.

Compliments of Virtual Results

As we head into 2017, you may be thinking that this is the year to finally put your house on the market. And when you do, you’ll want it to sell quickly for the best possible price. Here are our suggestions for what you need to do to get your home ready to sell.

Detach emotionally

Selling your home can be fraught with emotions, especially if you associate it with some of your cherished family memories. But if you want to be successful, you’ll need to detach. Consciously decide to let go of your emotional attachment to the home, and think of it as a business transaction. Take the time you need to say goodbye, but then imagine a new family moving in so that you can look forward without regret.

Spruce up the exterior

Today’s buyers have a never-ending supply of online resources to research before contacting an agent. Browsing photos of listings is easier than ever, and first impressions count. Make your home a stand out from the get-go by spending a weekend sprucing up the exterior. Clean up the yard, add some color with flowers and take photos when the light outside best accentuates the positive aspects of your home.

Rent a storage unit

In today’s market, most agents will tell you that staging is key for a quick sale and will help net you the best offers. In order to make your home look it’s best, you’re going to need to de-clutter and de-personalize every room. Now is the time to take down all your family photos, empty out the closets and remove bulky furniture. Renting a storage unit early gives you a place to keep all your belongings until your official move-out date. It also gives you a head start on packing, which is never a bad idea.

Make needed repairs

Do you have a door handle that keeps falling off? A window that just won’t budge? Have you been covering up a hole in the wall with a strategically placed framed photo? You need to tackle these types of repairs before putting your home on the market. Not sure which repairs to do? Walk through your house and imagine you are a buyer. What things would stick out to you as potential problems? You should also address any larger issues that may come to light during a home inspection, such as problems with the air conditioning or heating systems.

Do a deep clean

There isn’t a single buyer out there who will be turned on by pet odors or lingering cooking smells. Once you’ve moved your belongings to storage, do a deep clean of your entire home. Make sure to tackle any strong odors, and clean every nook and cranny. Remember, buyers will be opening every closet and cabinet door, so you can’t hide anything. If you can afford it, hire a professional cleaning service to get the job done right. It’s a small investment that could have a big payoff in the end.

Compliments of Virtual Results

If you’re buying or selling a home, you’ll probably come across some terms that you’ve never heard before, or don’t completely understand. Being confused about the terminology can make an already complex process that much more stressful. By educating yourself before you dive into the market, you’ll gain peace of mind and might even save some money. Here are the most common real estate terms or concepts you should know.

Appraisal

If you’re purchasing a home with a loan, the lender will require an appraisal. This is an evaluation of all aspects of your home to determine its value, including its size and condition on both the interior and the exterior.

Adjustable Rate Mortgage

When shopping for a mortgage, you may decide to apply for an adjustable rate mortgage. These types of loans have a variable interest rate and are generally extended for 5, 7 or 10 years. They may also have a cap on how high the rate can grow.

Fixed Rate Mortgage

As opposed to an adjustable rate mortgage, a fixed rate mortgage has a predetermined interest rate. The life of the loan is typically 15 or 30 years.

Closing

Closing is the last step of a real estate transaction when paperwork is signed and the title is transferred from the seller to the buyer.

Contingency

When drawing up a contract for a real estate transaction, there may be certain provisions that need to be met in order for the sale to go through. These provisions are called contingencies, and a home may be listed as “contingent” until these requirements are met.

Down Payment

A down payment is the money a buyer pays upfront to secure the purchase of the home. In most cases, the down payment is 20 percent of the purchase price, though this can change depending on the type of mortgage you secure.

Earnest Money

Earnest money is the cash that is deposited when an offer is made on a home. If the sale goes through, the earnest money is often used towards the down payment. If the buyer backs out of the deal for reasons not stated in the contingency, the earnest money goes to the seller.

Escrow

A property is in escrow once the buyer and seller enter into an agreement and the earnest money is paid. A neutral third party then holds that money until all requirements are fulfilled.

Pre-approval

Before you begin looking for a home in earnest, you should secure a pre-approval from a lender for your mortgage. This is typically a letter from a bank stating how much they will lend to you.

Title

The title is the rights to a property, and often refers to the document that shows evidence of ownership. During the buying/selling process, a title company will conduct research to determine if the title is clear. If there are no outstanding claims on the title, it is then transferred during the closing process.

Underwriting

When a lender researches a borrower to determine whether or not to extend credit, this is called underwriting. This determination is made by examining the buyer’s credit scores, income, credit history and debt.

Compliments of Virtual Results