NW Washington Home Buying and Selling Guide – Glossary
ADJUSTABLE-RATE MORTGAGE (ARM) - interest rates on this type of mortgage are periodically adjusted up or down depending on a specified financial index AMORTIZATION - a method of equalizing the monthly mortgage payments over the life of the loan, even though the proportion of principal to interest changes over time. In the early part of the loan, the principal repayment [...]
NW Washington Home Selling Guide – The Seller Closing Settlement – Who Pays What?
During the negotiation stage of the transaction, a mutually agreed-upon date for closing is determined. "Closing" is when you and the buyer sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Settlement obligations vary widely due to specific contract language, local laws and customs. Prior to closing, the closing agent (usually an [...]
NW Washington Home Seller’s Guide – Packing Tips
ESSENTIAL PACKING MATERIALS: furniture pads handtruck or dolly packing tape bubble wrap newspapers or packing paper scissors utility knife labels felt-tip markers cornstarch packing "peanuts" plenty of boxes Pack a "first day" box with items you will need right away... HANDY ITEMS INCLUDE: scissors utility knife local phone book coffee cups teakettle instant coffee or tea, soft drinks pencil and [...]
NW Washington Home Seller’s Guide – Moving Tips (part 2 of 2)
ONE WEEK BEFORE: Talk to your pharmacist about transferring important medical prescriptions. Arrange for a babysitter on moving day. Return library books and DVDs. TWO TO THREE DAYS PRIOR: Defrost your refrigerator and freezer. Have movers pack your belongings. Label each box with the contents and the room where you want it to be delivered. Arrange to have payment ready [...]
NW Washington Home Seller’s Guide – Moving Tips (part 1 of 2)
SIX TO EIGHT WEEKS BEFORE: Use up things that may be difficult to move, such as frozen food. Get estimates from professional movers or from truck rental companies if you are moving yourself. Once you've selected a mover, discuss insurance, packing, loading and delivery, and the claims procedure. Sort through your possessions. Decide what you want to keep, what you [...]
NW Washington Home Seller’s Guide – Purchase and Sale Agreement
Once you've found the home you want to buy, together we'll complete a purchase and sale agreement. This is the contract in which you and the seller outline the details of the property transfer. The purchase and sale agreement usually consists of the following: Earnest money receipt Financing addendum Inspection addendum Conditions/disclosure addendum Contingency addendum--when appropriate Addendum outlining special conditions [...]
NW Washington Home Seller’s Guide – Showing Your Home
Once your home is ready to show, we will begin marketing it to potential buyers and other sales associates. If possible, leave the home when buyers are present so they feel comfortable asking their agent candid questions. Other helpful tips include: Remove pets. Take them with you or keep them penned in the yard or garage. Open shades and curtains [...]
NW Washington Home Seller’s Guide – Preparing Your House for Sale
When selling, you want the best price and most favorable terms. There are a myriad of marketing options and details that go into a sale, from the time you set the price to closing. When marketing your property, if it is properly prepared for showing an interested buyer, it will bring the best price, terms...and ultimately sell in the shortest [...]
NW Washington Home Seller’s Guide – Using a Real Estate Agent to Sell You Home
Your home may be your single biggest investment and one of the largest financial transactions you'll ever make. When selling, you want the best price and most favorable terms. There are a myriad of marketing options, legalities and details that go into a sale, from the time you set the price to closing. When we market your property, you benefit [...]
NW Washington Home Buying and Selling Guide – Home Inspections
When you're ready to complete a purchase and sale agreement on a home, your offer will generally be contingent on a professional inspection of the entire property-including improvements. The home inspector looks beyond the cosmetics to make sure that the home's general systems operate properly. The inspector will also look for large repairs that are needed and report on the [...]
