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Buying Tips

BUYING TIPS

Whether you are buying an investment property or a new home to live in, there are some common problems you need to be aware of to ensure your purchasing experience is stress free and risk free. These few buying tips will make you aware of some of the pitfalls and ways to avoid them.

WHY ARE YOU BUYING?

Think about why you’re buying the property. If you intend living in the property does it suit your needs? If you have young children or elderly people living with you, you might wish to avoid stairs and prefer a level block. Do you intend to install a pool? Is the garden the right size? Will you need more bedrooms? Is it close to schools etc.

BUILDING REPORTS

Be sure to have reports for building inspection and pest inspection prior to committing to the purchase.

MEET YOUR NEIGHBORS

If you are buying a villa, apartment or townhouse you may be sharing a common wall with your neighbours. It would be advisable to check noise levels if possible. Try to meet your new neighbours. They may not share the same values as you.

DO YOUR RESEARCH

By researching the real estate market in a particular area you will be much better informed on property values. Ask Mark Ward Property to show you some comparable properties which have sold in the area.

CHECK WITH YOUR LOCAL COUNCIL

If a property has been renovated recently you might wish to check with the local council to ensure planning or building permits were approved. Deciding how much to offer can be difficult. You might wish to make your best offer up front or start with a lower offer and be prepared to negotiate up. However, purchasers who make higher offers might secure the property without giving you the opportunity to increase yours.

BUYING AT AUCTION

If buying at auction you should have:

Decided on a definite upper limit within your means
Conducted inspections
Had legal documents checked by your solicitor
Organised a cheque for the deposit
Finance approved
When bidding, bid with confidence and authority.

COOLING OFF PERIODS

Note cooling-off periods can be waived subject to certain conditions.

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Selling Tips

You can’t change your property’s location or aspect, but you can change its presentation. Launch your sales campaign with these top tips for presenting your home in its best light.

Natural light

Make sure there is plenty of light in the space; pull back the heavy curtains and clean the fly screens.

Create a welcoming entrance

Your front door is the first thing potential buyers will see when they visit your home, so remember to make it inviting. Paint the door if needed, replace any damaged hardware, keep decorations minimal and declutter the entrance area.

Declutter

Cleaning your house from top to bottom until it sparkles, and getting rid of the mess, is one of the best things you can do to improve the aesthetics of your home. Consider hiring a professional cleaner to whip through the main areas, including the kitchen, bathrooms, living room and master bedroom. The cost is minimal compared to the potential gain.

Eliminate odors

Don’t mask household odours with air fresheners, which can be overwhelming and cause allergies in many people. Rather, include freshly cut flowers, the scent of fresh cinnamon boiled on the stove (but remove the pot before the showing), or fresh apples and cookies placed in plain sight in the kitchen.

Paint

While you might love your aurbergene walls, there’s a good chance that most buyers won’t. Many buyers want to see a blank canvas where they can inject their own personality. In order to make your home appeal to the largest possible audience, paint your walls in neutral colors in a matt finish. Don’t forget to repair any nail holes or other damage before painting, and be sure to touch up ceilings and trim as needed.

Devil in the details

It’s the smallest repairs that can turn off fussy buyers, such as cracked tiles, broken door handles and chipped cupboards. Go over the property with a notepad in hand and make a list of all the small repairs you need to complete before showing the property to prospective buyers.

Accessories

Whether you do it yourself or employ a professional, property staging is a proven way to command a higher sale price. Replace old towels and throws with updated versions in on-trend hues, or rent furniture, accessories and artwork, to create a stylish feel inside that lures potential buyers.

Create an ambiance

On the day of an open inspection, present the property in its most attractive light; this means turning on fans or air-conditioning units if it’s a hot day, playing soft music, opening the curtains and blinds (weather permitting) and turning on lights in any dark, dim spaces.

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Tips For Buying Your First Home

For a first time home buyer, the process of buying your first home can get quite overwhelming, giving you the feeling that the financial decisions are rapidly spinning out of control. When it comes to real estate, most people don’t have a lot of experience or know a lot about it. In all actuality, buying a home is actually a simple process. All you need to do is understand the basics, which will go a long way in helping you buy your very first home.

The first thing you should know is to avoid pre payment penalties at all costs. What this means, is that if you buy the home then later want to sell it before the balance of your mortgage is due, you’ll have to pay a penalty. You can find a variety of great loans that don’t include these types of penalties. If you find a loan that does include pre payment penalties, you should immediately turn it down and look for another loan.

You should also be on the lookout for good ARM’s. If you have a good ARM, then your interest rate and monthly payment will adjust at the exact same time. This will make sure that your interest doesn’t affect your monthly payment. If your interest rate does affect your payment, then you will notice the unpaid interest reflecting the overall amount of your loan balance.

You’ll also want to get pre approved for your house as well. This lets the seller know that you are serious about buying, and will normally work in your favor to give an edge – which is especially handy if there are several others interested in purchasing the home. Getting pre approved will also save you a lot of time as well. If you can’t get approved for a loan, you shouldn’t waste your time inspecting it, trying to get a good interest rate, or negotiating with the seller for your ideal price.

Before you purchase a home, you should always be aware of how much you can afford. Before you attempt to purchase a home, you should always go over your budget and figure out how much money you can spend on a mortgage payment. If you manage your money smart and know your finances, this shouldn’t take you hardly any time at all. On the other hand, if you don’t know your finances, this will take you a long time indeed.

If you’ve already purchase your first home, you should always avoid taking any type of home equity loan. These loans can be very tempting when you get in an emergency and need cash, although most home equity loans add up to more than the value of your home. You should never, under any circumstances take a home equity loan, as there are many other ways that you can clear up your personal problems without having to jeopardize your home.

Keep in mind that the above are just a few basic tips and that there are many other things you’ll need to know before you buy your very first house. You’ll need to be familiar with private mortgage insurance, special loan programs, fixed rate and adjustable rate mortgage, and several other things. Buying a home is an easy process, once you know a bit about it. If you familiarize yourself with buying a home and learn all that you can about what is involved, you will find the home buying process to be easier than you ever thought possible.

Last you should seek the advice of an experienced and respected real estate agent and broker. These professionals know the market in your area and can help you avoid the pitfall associated with buying real estate. A good agent or broker can help save you thousands of dollars and avoid problem that may arise not only during the settlement process but possibly years down the line.

If you’re looking to buy, sell, invest, or have any questions, contact me at 301-358-3972.

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Real Estate Listings – Internet vs Newspaper

Whether you are looking to buy a home for living in or whether are looking to just invest in real estate, you will need to get hold of real estate listings as the first thing. Internet and newspapers are the most common ways of getting real estate listings.

With internet and mobile growing in popularity, internet real estate listings have become one of the easiest ways of checking out the real estate listings. Though the traditional method of looking for real estate listings (through newspapers) is still one of the most used methods, it is a very time consuming one. You have to read through various listings and sort out the ones that seem more suitable to you (and possibly write down the phone numbers and contact details on a piece of paper) and then call up the owners/brokers to fix an appointment for viewing the property (which may turn out to be totally disgusting in the end).

Moreover, the newspaper listings generally happen on a weekly basis. So if a deal has materialised in the meanwhile, there is no way you can check it without actually calling up the owner/broker. On the contrary, the internet real estate listings (on a good real estate listings website) are updated everyday or maybe twice a week.

Moreover, new real estate listings go up on the internet everyday (i.e. they don’t wait for the newspaper to get published). So, if you have been using only the newspaper as your source of real estate listing information, you might end up getting stale information. You might lose out on a deal that was out on internet, say 2 days before. As such, making the first offer can make a big difference when it comes to real estate.

Further, you don’t need to go through all the real estate listings in order to determine the listings that look suitable to you. You can specify various search criteria/ filters in order to get only those real estate listings that you really want to look into. This is a big advantage when compared with newspapers where listings are generally classified just on the basis of location of the property. Thus you can save a lot of time here by browsing only through the real estate listings that are of interest to you.

Another important benefit from real estate listings on internet is that some of them also contain images of the property. So you can have a look at the images and see if you like the property at all.

So, real estate listings on the internet do seem to offer a lot of convenience. You can search for properties in the Washington DC metropolitan area on my website. If you find a property you like, please contact me at 301-358-3972 for assistance or to schedule a showing.

 

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Things To Know Before Buying A Home

If you are taking the next step in life and purchasing a home, chances are that you are feeling the pressure and the anxiety that goes along with this difficult decision. Those who buy homes are very anxious, eager to get any information they can about real estate. Before you buy a home, it always helps to learn all that you can.

The first thing you’ll need to do when buying a home is to find out just how much you can qualify for or afford to borrow. You should also make it a point to check your credit and know where you stand. If you have any problems, you should strive to correct them for you attempt to borrow money for a home. The higher credit rating you have, the lower your interest rates will be.

If you can, you should always attempt to get pre approved by a mortgage broker or lender, as this will show your commitment to the mortgage. Also make sure to look for any payment or prepayment options that can help you take a few years away from your mortgage. Once you have been pre approved for a mortgage and know where you stand with your monthly payments, you can start shopping for property.

When you shop for a home, you should only buy real estate that is perfect for you. Before you start looking, you should always make a list of everything you want your home to have, based on what you want and what you actually need. You should also make sure that you mark out any areas that you are willing to come to a compromise on, just in case you have to.

To assist you with finding the perfect home, you should enlist the services of a reputable real estate agent. When you meet with your agent, you will go over how much you are willing to spend, and what type of home you are looking for. Your agent will know where ideal properties are, and help you find the home that is best for you.

Your agent will supply you with a list of potential properties that meet your budget and your features. Once you get the list, you should drive by the homes and check out both the home and the neighborhood. You should consider the appearance and location of the home, safety, access to the freeway, schools nearby, commute time to work, local shopping, and even recreational activities.

If you don’t find something that interests you the first time, you should keep looking until you find the home that is best for you. Your agent can help with tours of homes and such, even tell you information about neighborhoods that you aren’t familiar with. If you have chosen a good real estate agent, he will care about helping you find a home and go out of his way to ensure that you get exactly what you want.

To get the most from buying a home, you should always hire a real estate agent that you can trust. Your agent will go a long way in helping you buy a home, from finding properties to giving you pointers and tips along the way. Good real estate agents will care about your satisfaction, and will do all that they can to help you find the home of your dreams. You can always buy a home without a real estate agent, although it will take you longer and you won’t get the help and other amenities that a real estate agent will bring to the table.

I am an experience real estate agent and broker with an incredible client satisfaction rate because I build great repore with my clients and I pride myself on always being accessible. If you work with me, I’ll be available to provide expert guidance and answer your questions 24/7.

If you’re looking to buy, sell, invest, or have any questions, contact me at 202-386-3797

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The Difference Between A Real Estate Broker vs Real Estate Agent

In a place where everyone’s profession affects your lifestyle, you might want to know the different roles. One of the definitions to consider when getting to know those who are involved in real estate is the real estate brokers. By defining this type of professional, you will have the ability to find who will be the best for you to work with.

The technical definition of a real estate broker is one who is trained or licensed in real estate. The training that they receive gives them the ability to arrange your needs as well as sell you different property. Beyond this, real estate brokers provide different types of financial deals and considerations for the real estate that you are considering buying.

In order for a real estate broker to work with you, they must have a license. This means that they will need to pass a written test that relates to different real estate definitions and standards. This is usually part of training that they receive in the classroom. This license comes from the state and has to be renewed either every year or every other year, depending on where the broker is practicing.

Usually, a real estate broker will have agents who work underneath them. The agents will do some of the work in selling the property or real estate, and in return get some commission from the sale. Being a broker gives one who is in the real estate business to have their own company and have agents working under them for real estate. Brokers will also need to find the properties that can be sold by their particular company. Usually, time will be spent by brokers to find the right homes and areas for selling the property.

If you want to make sure that your team is put together in a solid way, then using a real estate broker is usually a good find. This will give you the ability to find someone who is practiced in various parts of the real estate business, giving you the key to more possibilities.

I am a licensed real estate broker with several experienced agents working underneath me. Our team has an excellent understanding of the real estate market in the Washington DC area and can get the best deal for you when buying, selling, or investing in real estate. If you have any questions, feel free to contact me at 202-386-3797.

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All About Real Estate Agents

Real estate agents are professionals who help in connecting the buyer to the seller. A lot of real estate agents also do rentals wherein they connect tenants to landlords and even maintain the property on the behalf of the landlords. The real estate agents work by linking together the two interested parties and charging a commission for their services. For sales, they charge commission only to the seller but for rentals (i.e. agent managed rentals) the commission is charged to both parties involved in the transaction.

Real estate agents generally calculate their fee as a percentage of the selling price (in case of sales) and as part of the rent (for rentals). People, who want to sell/lease their property, leave the details of their property with the real estate agent (and in fact, even leave the keys of the house so that the real estate agent can arrange for viewings without them getting into any hassle). The other interested party (i.e. the buyer/tenant), gets access to this information by contacting the real estate agent. That’s how the real estate agents become a hub of information.

A lot of home seekers (including real estate investors) use the services of real estate agents not just for getting good deals but also getting them quick. Since real estate agents are probably most familiar with the market situation in their region of operation, it makes sense to approach them to get an idea of the going rate for properties in that region. Real estate agents would generally know the prices of various properties of different types and at various locations in the region.

A property seller can possibly get a few thousand more for his/her property by using the advice received from a good real estate agent. A good real estate agent will also analyse the needs of a home buyer/tenant and provide suggestions on what kind of home could be available to them within their budget. So a good real estate agent will not just throw a list of available properties to the buyer/ tenant but will actually discuss their needs and make a suggestion. This, in fact, works in the favour of real estate agent in two ways. Firstly, if the real estate agent is able to sell the house they get their commission and secondly, if they make the buyer happy too they earn a good reputation (and hence more business).

However, it is worth noting that real estate agents work on seller’s behalf. So, beware if they are trying too hard to sell a property.

I suggest you only work with a top agent to ensure you get the best representation and most bang for your buck. If you have any questions, feel free to contact me at 301-358-3972.