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Staged Home Living

Life in a staged home may seem perfect to some, but there is plenty of work that goes into maintaining a perfect house. With each room comes a set of responsibilities that ultimately contribute to maintaining that immaculate appearance

Home staging tips often touch on one important point: You have to be prepared to maintain a state of perfection from under your sink to within your bedroom closet. While certainly not impossible, this takes dedication. This can also pay-off handsomely in the end, when homebuyers, enthralled with the state of your home, begin making offers. There is a lot that goes into perpetuating perfection.

Here are tips, room-by-room, on how to live in a staged home:

The bedrooms
These rooms tend to collect clutter. To alleviate that, it is time to make use of those nightstand drawers, and possibly under-the-bed storage. While it is OK to keep maybe a book or two, – maybe home staging books! – and a lamp on top of your nightstand, everything else – tissues, glasses, etc. – should be stowed away in storage somewhere accessible yet hidden. Clothes should also be neatly stored. Make sure to consistently put clothes in the hamper. In a staged home, you’ll probably be doing laundry often anyway – to keep towels, dishcloths, and other similar items clean. Also, it is crucial that everyone in every bedroom makes his or her bed immediately after waking up in the morning.

The kitchen
Air freshener is your best friend in a staged home. Of course, you will probably end up cooking in your staged home. Even a smell can turn a potential homebuyer off, though. Use air freshener to ensure your home smells as perfect as it looks. Clean every surface after each meal cooked, as well. There should never be dishes in the sink when people are touring the home, either so clean them or place them in the dishwasher right away.

The bathrooms
Your bathroom should appear as though no one uses it. That means storing away shampoos, soaps, and razors after showers, and cleaning every day. If you have more than one bathroom in your home, have everyone share one to reduce the amount of cleaning required. This is where laundry comes into play again – every time someone uses a towel, it should be washed, rather than hung up to dry, to avoid any sort of clutter at all.

Other rooms and spaces
You can treat the family and living rooms similar to bedrooms – plenty of hidden storage space, spotless floors and no clutter whatsoever. Also, it is important not to forget closet and pantry space. While storing clutter away is important, overfilling closets and pantries will make them seem tiny. Organize these spaces to ensure their sizes are accurately represented.

Prioritizing perfection is paramount in a staged home, but if you can maintain it there’s a good chance buyers will fall in love with your spotless house.

What is a Purchase and Sale Agreement?

When it comes to a real estate transaction like buying a home, a lot of important paperwork needs to be completed before you can call a home yours. One of these important pieces of paperwork is a purchase and sale agreement.

To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. So whether you’re selling a home in Boston, MA, or buying a home in Dallas, TX, read on to learn more about what goes into a purchase and sale agreement during a real estate transaction.

What is a purchase and sale agreement?

A purchase and sale agreement, PSA or P&S for short, is the document received after mutual acceptance on an offer. It states the final sale price and all terms of the purchase in a real estate transaction. PSAs can vary by state but they typically consist of the final sale price, earnest money details, closing date, title information, and contingencies agreed upon by the buyer and seller. Additionally, other details will be outlined in the agreement regarding timelines and anything else the buyer/seller requests.

Who drafts the purchase and sale agreement?

Depending on the state where your dream home resides, either the buyer’s agent or the real estate attorney will draft up the contract. In states where escrow agents handle the closing process, the buyer’s agent is responsible for preparing the PSA document. In areas where attorneys handle the closing, the attorneys will prepare the document. The buyer, seller, and their respective agents will sign the document.

What does the purchase and sale agreement consist of?

The specific items in this contract vary by state, but will almost always include the following:

  1. Final sale price: This is the purchase price agreed upon by the buyer and seller. Note that this price might change during negotiations before the closing date. For instance, if the buyer’s home inspection turns up a problem with the home, the buyer may be able to negotiate a reduced purchase price.
  2. Earnest money details: The PSA will include information on the earnest money deposit, such as the dollar amount and instructions for making the deposit. In most areas, the buyer will need to deposit a personal or cashier’s check within one to three days of mutual acceptance. The check will be held by a neutral third party until the completion of the deal.
  3. Closing date: On your closing date, the purchase will be completed, the transfer of property will be recorded with the local government, and the seller will receive the money for their home. Usually, you’ll sign all the necessary paperwork a day or two before your closing date. Your closing date may change, however, due to unforeseen events, such as your financial paperwork taking longer than expected.
  4. Title insurance company: Information about your title company will be included in the PSA document. As the buyer, you always have the right to select a title company. You should talk to your agent or attorney if you have any questions about choosing a title company
  5. Title condition: The PSA will include an agreement that the seller will provide a clear or marketable title of ownership to the buyer.
  6. Contingencies: Contingencies are conditions that must be met in order for the home purchase to be completed. If one of these contingencies is not met, the sale may be canceled by the buyer or seller. Here are some examples of common contingencies:
  • Inspection contingency: This contingency allows the buyer to have the home inspected before going ahead with the purchase. If the inspection turns up a problem with the home, the buyer can renegotiate with the seller, who may repair or offer a credit for the problem. If the problem is severe, the buyer can back out of the purchase without losing the earnest money deposit.
  • Financing contingency: This contingency requires the buyer to get approved for a mortgage before making the purchase. If the buyer is unable to get mortgage approval they can back out of the deal.
  • Title contingency: This contingency gives the buyer the right to review the home’s title for problems or conflicting claims of ownership. If the title review turns up a serious problem with the title, the buyer can require the seller to satisfy them before the closing date. If these items are not cleared before closing, this contingency allows the buyer to walk away from the deal.
  • Appraisal contingency: This contingency allows the buyer to back out of the deal if the home appraisal reveals that the home is not worth as much as the buyer intended to borrow and pay for it.
  • Home sale contingency: Less common than the other contingencies listed above, this contingency gives the buyer the right to back out of the deal if she is unable to sell her current home.
  • Addendum: An addendum, also known as a rider, is any additional request from the buyer to the seller that is not included in the actual PSA document. Examples may include a buyer’s request that the seller pays part of the buyer’s closing costs, or that the seller includes appliances or furniture not originally included in the home’s sale price.

Purchase and sale agreement vs. purchase agreement

The purchase and sale agreement may sound similar to the purchase agreement, but they shouldn’t be confused with each other. A PSA outlines the specific terms in the transaction between the buyer and seller while the purchase agreement is the final paperwork signed by both parties for the sale of the home. Once the details of the purchase and sale agreement have been signed and covered, the parties will move forward with the sale of the home by signing the purchase agreement.

What happens after a purchase and sale agreement is signed?

After the buyer and seller agree and sign upon the terms of the PSA and the earnest money is deposited, the buyer and third-party companies will begin the home inspections, title searches, loan agreements, and anything else outlined in the agreement that needs to be checked. It can take several weeks for the finalization of the purchase and sale agreement if problems arise during an inspection which can lead to negotiations and counters. Once the PSA is signed the buyer has finished the inspections, and other requests are outlined, the buyer will sign the purchase agreement at closing and receive the keys to their new home.

5 Questions to Ask Before Adding an Addition

If you’re a long-time homeowner whose home just isn’t measuring up to all your needs and wants anymore, you could consider adding on to the home you love instead of abandoning it altogether.

If you’re considering adding on to your home, congrats! But before you schedule an oh-so-gratifying demolition day, consider a few things first. Here are five questions to ask before adding on to your home:

1. How much do I want to spend?
Obviously, you’re not going to blindly embark on a home renovation project without considering price. But, when it comes to adding on to your home, you need to get a few estimates from the professionals who will complete the work—once you do, be sure to account for a few overages before committing to the project.

2. Will the addition be worth it?
Keep money in your mind, maybe we’re talking about finances here. But maybe we’re talking about your quality of life in your home. If you intend to sell your home after adding on, you need to consider the resale value and how the addition may return your investment. If you don’t intend to sell, consider how the addition may enhance your lifestyle at home.

3. Would remodeling be a better option?
Always wanted a home office, but never seemed to have enough rooms to give yourself the space? Don’t simply start breaking down a wall in your home to add on the office. Instead, survey your current space. Are your children off to college—or will they be soon? Could you finish your basement and create several new rooms? It may be more economical to make simpler renovations to your current home rather than adding on. Look at all possibilities before you begin major construction around your home.

4. What regulations do I need to follow?
Unless you live in some remote area with very few rules, it is likely that you’ll have to follow some restrictions when it comes to adding on to your home. Before you start spending and break ground on all your enhancements, contact city or county government offices to see what rules you may need to follow during the construction process.

5. Can I afford this in the long run?
Yes, you considered the amount you would be spending on your renovation project in the beginning. However, some home additions can tack on additional costs that last for the long run. Consider the extra costs of heating and cooling your home once you add on. Also think about an increase in your property taxes. Don’t forget to account for any extras you’re adding in too—you know, like a hot tub or additional bathroom. Those extras can add monthly expenses. Make sure you’re prepared for any extra costs your addition may bring.

Adding on to your home is a great way to make it last. But before you break ground, you need to know that your addition is the best option for you. Ask questions about the addition up front so you don’t face any surprises during your project.

6 Housewarming Party Tips

In the process of moving into a new home? Well, don’t forget to christen your new space with a housewarming party! We know, we know, the last thing you may feel like doing when you’re in the middle of unpacking boxes and setting up your new home is entertaining. But you may be pleasantly surprised by how it feels to take a minute, welcome a few friends, meet a few neighbors, and gaze at your new purchase.

And, trust us, when you throw a housewarming party, your friends and neighbors are not expecting your new home to look perfect, but you can bet they are excited to get a first look at your new space! Need some motivation to get your boxes put away and at least a bit of décor up on your walls? Here are five tips for throwing an awesome housewarming party:

1. Get Planning
Decide on a date and time for your party. Once you set the date, determine your guest list and send out your invites. Use regular mail, email, or social media to get the word out. Remember, it is customary for guests to bring a gift to a housewarming party, so if you prefer that your guests just come to have fun, be sure to indicate that in your invite.

2. Choose a Theme
Here is where you can have a little fun before your party even starts. When it comes to housewarming parties, you can host anything from a casual backyard BBQ to a fancy dinner to an unpacking party—yes, you could put your guests to work when they come to the party!

3. Include a Tour
Just as guests pretty much plan to bring a gift to a housewarming party, they also plan on receiving a tour while they’re there. Of course, you can keep it traditional and simply parade guests through your home to show off the new space. But you also have a unique opportunity to add to the fun of your event. Offer up a non-traditional tour by creating a scavenger hunt through your new home. Deciding between a few colors in certain rooms? Let guests weigh in while they’re on tour!

4. Let Guests Help
In addition to asking guests to weigh in on paint colors or décor while they’re in your new home, you also can rely on them to help with the night’s menu. Plan to provide the main course, but let guests bring their favorites when it comes to appetizers, desserts, or drinks. This is a great way to beef up your recipe collection or stock your bar, too!

5. Invite Guests Back
The best way to end an awesome housewarming party? Don’t let the memory-making stop. You can ensure your new home is always full of fun and friends by giving your guests a way to remember how to find you. Send your housewarming party guests home with a memento that includes your new address. Anything from personalized post-its to custom-wrapped candy bars can include your address. Get creative when thinking about how to send your guests home after your party.

6. Don’t stress yourself.
A final tip for hosting a great housewarming party? Don’t stress. House cleaning and care are all a part of being a homeowner. If those tasks don’t get perfectly done before your party, it is OK. Remember, your guests are interested in seeing your home, but above all, they’re there to support you in your new venture!

What Small Homes Can Teach You About Living With Less

Need to declutter?  Anytime is the perfect time for getting rid of all the unnecessary stuff that accumulates in your home. How does it manage to pile up? Didn’t you just do this last year? Maybe you should just throw it all away—for good. In fact, that’s what a lot of people are doing now. You’ve probably heard about the trend toward living with less—fewer possessions, less space—whether it’s zero-waste living or the tiny house movement.

There are two factors driving people toward small homes today: the economy and the environment. They are generally more affordable, and for home buyers, that means smaller mortgages. They are cheaper to maintain as well. Building and maintaining large houses have an impact on the environment. A large house takes more building resources and requires more maintenance than a smaller house. People are willing to go smaller to simplify their lives.

If you’re squeezed into tight quarters or looking to downsize, here are some top tips to maximize the space and storage:

Prefer an open plan

When space is limited, you don’t want to carve it up. An open view with clean lines makes a space seem larger.

Make the most of natural light

Abundant natural light makes your home feel larger, so capture as much of it as you can. Don’t have floor-to-ceiling windows? Mirrors expand and reflect light. You can transform a small room into a larger and brighter space by using illusion wisely.

Use a minimalist color palette

You want to avoid excess in a small space—too much stuff, too many frills, too many colors. Stick to one or two similar shades, max, preferably paler ones that help maintain a light feel.

 

Built-in furniture is key

Built-in furniture is possibly the most efficient furnishing solution for spaces of limited dimensions: it frees up valuable floor area makes the space less cramped and unifies the decor.

 

Make your furniture work double duty

In a small space, everything has to earn its keep. Furniture can be an effective room divider. It is an excellent solution for studio apartments where different functions share the same space.

Obsess over your storage

Think about how you are going to use your cabinets so you can choose the right type of hardware. Look into different door hinges and drawer hardware. Custom doesn’t have to be pricey, either. Design your own modular system with crates of different sizes to bring an industrial touch to your home.

Living in a small space doesn’t have to feel cramped and inconvenient. A thoughtful approach to simplifying your lifestyle can make a big difference. But still, keep a watchful eye on your stuff—it can pile up without your noticing. Seriously, how does it do that?

Not Happy With the Listing Price? Here’s What to Do

Arguments, disagreements, even confrontation? When a couple is selling a home, it is possible that they may face all three. However, we’re not talking about the usual stressful situations that can occur between partners when it comes to the home sale process.

As if selling your home wasn’t cause enough for a little uneasiness, what if you fully disagree with some advice that you get from your real estate agent? In fact, what if you think your home should be listed for a higher price than your agent recommends? Before your frustration level bubbles over and you decide to abandon your entire home sale altogether, relax… you’ve dealt with a little disagreement before, right?

Here are three handy ways to approach a difference in opinion with your real estate agent when it comes to your home’s listing price:

Keep Perspective – As the saying goes, “you’ve got to give credit where credit is due.” So, first and foremost, remember that your real estate agent has training and experience to back up their recommendation. Also keep in mind that they’ve done a comparative market analysis of similar area homes that are currently listed or have recently sold. They did not simply pull their recommendation out of thin air!
If you’ve scoured the web and a site like Zillow suggests that your home is worth more than your real estate agent recommends, it is important to note that a Zillow estimate is merely a starting point that is calculated from public data and user-submitted information, as stated on the site. Your real estate agent is able to assess your home’s interior and current market conditions in your area before recommending a listing price.

Demand More Proof – Now, you know that your real estate agent puts in some serious work before recommending your home’s listing price. But, if you’re not satisfied with their recommendation, ask for a further explanation! We’ve talked about a comparative market analysis of similar area homes; ask your agent to show you information about the homes they compared to yours. Get a greater understanding of the homes that are on the market or those that have recently sold.

Communicate! – As with any disagreement, keeping the lines of communication open is vital. You trust your real estate agent and have reviewed your comparative market analysis, but you still think your home should be listed at more than what your real estate agent recommends? Tell them!
Your agent works for you, which means they should work with you! But, don’t expect them to know you’re unhappy with their recommendation simply by casting sideways glances and giving the silent treatment! Voice your concerns and talk through your listing price until you reach a point where you’re satisfied.

The home sale process can be stressful enough. There is no need to add in extra frustration by disagreeing with your real estate agent over your home’s listing price.

What’s the difference between Pending or Contingent?

The status of a listing conveys information about the availability of a property. The listing agent is responsible for entering and maintaining the appropriate status into their Multiple Listing Service (MLS) Types of status can vary depending on the MLS, but in general there are five types:

  1. Active – The property is available for sale and the seller is accepting offers. Be careful though, this status does not mean that other offers haven’t been presented.
  2. Contingent – The seller has accepted an offer but the buyer may back out without penalty if certain conditions are not met within certain time periods. For instance, a financing contingency will allow the buyer to rescind and receive their deposit back if they are unable to obtain financing in accordance with the agreed upon terms of the contract. Other typical contingencies include:
    • Inspection or Due Diligence: The property doesn’t pass inspection or the cost of repairs exceed the amount the seller agreed to
    • Sale of Buyer’s Property: If the buyer must sell another property in order to be able to buy this one.
    • Appraisal: The appraised value does not meet the contract price.
  3. Pending – The seller has accepted an offer and all contingencies have been satisfied.
  4. Sold – The property has closed and is no longer available.
  5. Expired – The agreement between the seller and the listing brokerage has expired and the property is no longer listed for sale.

Depending on the MLS, a status of Contingent, Pending or Expired may not be made public.  Other sub-status can be things like:

  • Contingent – continue to show (CCS): the seller wants to pivot to a backup offer if the buyer can’t perform.
  • Contingent – no show: the seller believes the buyer will have no problem removing the contingency.
  • Contingent – with kick out: the buyer has a limited time to remove the contingency or risk the contract being voided.
  • Contingent – probate: a deceased homeowner’s assets are going through the probate process, so the home may not be available for purchase for some time.

When a listing is pending, the contract is closer to closing, but there are exceptions:

  • Pending- taking backups: the seller is accepting backup offers in case the buyer can’t perform.
  • Pending- short sale: the mortgage holder has been asked to take less money than the seller owes on their mortgage.

Contact one of our knowledgeable agents and let us work for you!

8 Things To Do Before You Move In

How exciting! You found the home you want and got it under contract. The inspection is done, your financing is approved and the closing date is set. Now what? It can be overwhelming to think about the packing and moving, especially when there are some things to consider at the new home. Here is a list of 8 items to take care of before moving to make it a little easier.

1. Turn on your utilities
Contact the utilities providers (electricity, water, sewer, etc.) and schedule to have them placed in your name on the date of closing.  Usually you will have to fill out an application and provide some form of security deposit.  A Professional Real Estate Agent will make sure that the company handling the closing performs a Municipal Lien Search (MLC) prior to closing to ensure that all utilities are paid in full.  The MLC can also identify open or expired permits, code violations, special assessments and more. Don’t forget about cable TV and internet. Having these things taken care of prior to closing really help make for a smoother transition into your new home.

2. Take care of any necessary repairs from the inspection
Your inspector may have found some items worth taking care of right away during the home inspection and depending on what the agreement is, you may need to fix them after closing on the house. Prior to moving in, try and fix as many of the big-ticket items as possible. This will be one less thing to deal with after you move in. This is especially true if the repairs have anything to do with plumbing, electrical, or roofing.

3. Deep clean the entire house
The sellers may have hired cleaners or attempted to clean the home themselves, but it is always best to deep clean the house. Some people may opt to do this themselves, but there’s nothing wrong with hiring a professional cleaning service. This will ultimately save a lot of time. Some areas of the home to pay close attention to are cabinets and closets, flooring, appliances, and bathrooms. Make sure that the floors inside of closets are thoroughly cleaned and that any shelving in closets, pantries, or cabinets is wiped down. When it comes to flooring, you’ll want to hire a professional carpet cleaning service and evaluate hardwood, laminate, or tile flooring to see if it needs any extra TLC. In addition to that, consider changing the toilet seats.

4. Add any additional storage, shelving, or built-in features you want
If you purchased the home knowing that you were going to want additional shelving, cabinets, or storage, it’s best to get all of these items added and built out before you move in. This means that when you do move, you’ll be able to put away all of your things instead of leaving boxes to get unpacked after your new shelves are complete. It’s much easier to have this type of construction handled before you move in and have to worry about convenient scheduling and potentially moving your personal belongings.
This particular point is also true for new home buyers. If you purchased a new home build but knew that there were custom design options the builder would not include, the best time to add them is before you move into your new home. This is also true of any flooring changes.

5. Complete all interior paint if necessary
If you are planning on changing or even just touching up the existing paint in your new home, it’s best to get this done prior to moving in all your furniture and possessions. It will make the process significantly easier for both you and the painters if they do not need to worry about moving and covering furniture. Make sure you do this after any additional construction, but before you put in new flooring or have the existing flooring cleaned.

6. Call in the exterminator
If you’re already aware of some type of pest problem it’s an especially good idea to call these guys before you move in, but even if you’re not, it’s never a bad idea to have pest control come out and spray your yard and home. If you have pets, it will be significantly easier to have them come before you move in, plus it gives their extermination methods a little time to start working before you move in.

7. Reset your garage door code
More than likely the previous owners of the house gave you all the garage door openers, but in my opinion, it never hurts to reset the code just to be extra sure that no unwanted visitors will be coming in through the garage.
This is also a good idea for new home build owners. Even if you’re putting a brand-new garage door opener in your garage, make sure to reset or change the code. Often the codes are not changed after the opener is installed and having the manufacturer default code is never the best security practice.

Finally (and probably the most important step):

8. Change your locks and keys
This is probably one of the most important things to do before you move into your new house, and it should be taken care of last on this list. During the home selling process, keys are given to many different people like handymen, inspectors, and real estate agents to name a few, and in addition, homeowners typically provide backup keys to either close friends and family or even neighbors or house sitters. So even though you were provided “all” copies of your new keys at closing, you never know who might still have an extra copy. After you have finished all necessary repairs, cleaning, and construction, hire a locksmith to change your locks to ensure that only you have a copy of your new house keys.

Check out our Moving Checklist to help keep you on track when packing up the home you are moving from.

Common Home Hazards

Homes can have safety issues that aren’t always obvious — problems that could endanger you and your family. Fortunately, doing an annual safety audit of your property can help identify some of these hazards and allow you to remedy them before they cause larger problems. It may also help you to avoid using your home warranty or homeowners insurance.

Want to make sure your home is safe for you and your loved ones? Here’s a room-by-room breakdown of what to do.

Kitchen
If you have kids, make sure sharp knives and utensils are stored safely in a drawer. You should also check that your vent hood is working properly and that there’s a fire extinguisher within easy reach.

Bathrooms
Do your rugs have nonskid undersides that are in good condition? If not, replace them or add a nonskid mat underneath. You should also check that your electronics are kept away from water sources like the sink and tub.

Bedrooms
Make sure heavy furniture is secured to the wall or somehow anchored. This is particularly important if you have small kids who may be injured pulling down shelves or dressers.

Laundry Room
Regularly empty your dryer vent, and make sure the lint trap is clear after each load of laundry. These can both become fire hazards when clogged.

Living Room
If you have a fireplace, have it inspected by a professional annually. Adding a fire screen (if you don’t already have one) is also important. Be aware that area rugs can be tripping hazards, too.

If examining your property has made you realize that you’re ready to move on to your next home, get in touch with Gulf Life Real Estate so we can start the search together.