In this episode we remind you to remember it is better to over prepare and feel like it is time wasted than to have failed to prepare. Failing to prepare can lead to massive property damage. When thinking about a storm coming it is important to understand which directions the winds will come from. By knowing this you will have a better understanding of where it is protected from the winds. If you have sump pumps or other water issues make sure to have a backup generator. A pump with no power is no use and you will end up flooding.

In this episode we discuss that an appraisal contingency is something that protects the buyer from needing to move forward at the same terms if the appraised value is not sufficient for the contingency. This means that they get to take their deposit and leave or renegotiate. When an appraised value is off there are a few options. One would be to challenge the appraisal as the buyer to try to keep the deal alive. If an appraiser did not seem to do a fair or a just job then it may be time to hire a second appraiser. This may or may not change the end resulting value.

In this episode we discuss that simply walking away from a real estate deal would most likely mean the loss of your deposit monies. Most contracts to purchase include language that if a buyer defaults the monies go to the seller as the sole remedy for their lost time and damages. Before ever making a big move like this it is advisable to speak with an attorney first. This will ensure you understand all your options and the risks involved. Backing out from a home purchase may be painful and come with some negative feedback but sometimes it is the right choice. Based on an individual's life circumstances it may make more sense to suffer the loss of a deposit over a future foreclosure.

In this weeks episode we discuss that when a home inspector is finished they send over a fully detailed inspection report. This report contains photos, grading systems, and text describing what was found that day. A home inspector grades each item throughout the home from roof to walls. They then write it all up in a report so you know which items may need further review by a contractor. Just because a single item fails does not mean the house failed. It simply means that something needs attention which leaves the buyer and seller to figure out if further negotiations are needed.

In this episode we discuss that oftentimes people wait until too late to get a pre-approval. They find a house they love only to lose it while waiting to get pre-approved so the seller will accept their offer. Having a pre-approval shows you where in the market to shop. The problem with shopping in the wrong price range is either you do not see what you like or you see what you love but can not afford it. A pre-approval does not lock you into a specific institution, it just shows they are willing to lend to you. Getting the pre-approval unlocks your ability to buy a home.

In this episode we discuss why it is not the standard to skip a home inspection; it is simply an option a buyer gets. While it is an option it is not advisable unless the buyer feels comfortable with doing so. As a buyer there are many levels and options of what inspections to do. When writing an offer it is important to list any and all inspections as contingencies. Waiving a home inspection will certainly get your offer noticed but does not always mean a win. If a seller is confident in their home they may still go with another offer over better terms.

In this episode we discuss that when thinking about saving, most people cramp up with fear. Start with an accurate budget to figure out exactly where your money is going. Seller’s concession is a tool you can use asking the seller for a portion of the proceeds back at the closing table. This cash can be used to pay closing costs and prepaids allowing you to meet your cash flow needs. Think small and work from there. Thinking of how to save 10’s of thousands of dollars can become overwhelming. Learn to work from small savings to large savings as you go and always protect it from becoming a rainy day fund.

In this episode we discuss, like it or not, the world has changed a lot over the past few years. Working from home is here to stay and buying the home with the perfect office is the right thing to do. When planning to work from home there are a lot of variables to think of. It starts at will the household noise be suppressed enough all the way to does my phone work well here. Having an agent who understands working remotely will increase your odds of finding success. It is not just as simple as does my desk fit there are lots of complexities to getting the right office.

In this episode we discuss that a house is a building that you live in. A home is what you turn a house into when creating memories over the years. Rates go up and down and ebb and flow as the years go. Thinking of waiting till rates and the perfect home align may have you waiting forever. If you have the perfect chance to buy a home now may be the perfect time. Once you have established yourself in the home and the rates change in a preferable direction it is time to refinance.

In this episode we discuss why a contingency is a protective clause that can be put into the contract to help protect your deposit. It says in order for the sale to happen something else must happen first. Home inspection contingencies are very common. This states that if the home inspection results are not satisfactory to the buyer that they can walk away with their deposit. A home sale contingency is something that often home buyers who already own a home need to use. It states that if I can not sell the home I already have then I have the right to withdraw from the contract to buy your home with my deposit.