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CHECKLIST Prepare for Your Move Update your mailing addressat usps.com or fill out a change-of-address form at your local post office. Change your address with important service providers,such as your bank(s), credit companies, magazine subscriptions, and others. Create a list of people who will need your new address. Whether you plan on sending formal change-of-address […]

VOCABULARY Transaction Documents Property disclosure form This form requires you to reveal all known defects to your property. Your real estate agent will let you know if there is a special form required in your state. Purchasers’ access to premises agreement This agreement sets conditions for permitting the buyer to enter your home for activities […]

WORKSHEET Track Closing Costs Be prepared and know who’s responsible for the variety of fees and expenses at the closing table.   BUYER COST SELLER COST OTHER Down payment       Loan origination       Points paid to receive a lower interest rate       Home inspection       Appraisal   […]

HOW TO Recognize a Qualified Buyer Offers can be exciting, but unless your potential buyer has the resources to qualify for a mortgage, you may not really have a sale. Your real estate professional will try to determine a buyer’s financial status before you sign the contract. But it’s good for you to know what […]

HOW TO Improve the Odds of an Offer Price it right. Set a price at the lower end of your property’s realistic price range. Consider: Comparable properties: A “comp” is what real estate professionals call home sales that can be reasonably used to help determine the price of your home. But just because you’re in […]

HOW TO Navigate a Short Sale Be prepared for a lengthy waiting period. Even if you’re well organized and have all the documents in place, short sales can still be a long process. Waiting for your lender’s review of the short-sale package can take several weeks or even months. The length varies by lender and […]

HOW TO Prepare for a Short Sale A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. It’s significantly different from a foreclosure, which is when your lender takes the title of […]

WHAT TO KNOW About the Appraisal Process Once you are under contract, the buyer’s lender will send out an appraiser to make sure the purchase price is in line with the property’s value. Appraisals help guide mortgage terms. The appraised value of a home is an important factor in the loan underwriting process. Although lenders […]

HOW TO Use Feng Shui Concepts in Staging Feng Shui is a Chinese system of beliefs that govern spatial arrangement in relation to the flow of energy or “life force” (known as chi or qi) in a building. Learn how to appeal to buyers who follow such principles. Chi flows in. Pay special attention to […]