What Is An Appraisal?

 

Getting a home appraised in the Cape Coral or Fort Myers area?

Every house is unique; appraisers are trained and licensed for expertise in putting a value on properties.

Appraisers don’t work for the buyer or the seller;  their primary mission is actually to protect the lender who’s risking money against the home’s value.

Appraisers have to weigh factors about the property and location – including size, condition and comparable properties – to appraise its current value.

They know how to focus on conditions that affect value; dishes in the sink don’t; damage and neglect do.

Appraisals lower than the proposed purchase price can affect transaction details. The seller might have to lower the price or the buyer might have to increase down payment or fund additional escrow.

Appraisal seems a lot like inspection, but they’re not the same.

You can think of it this way:

Appraisers report on value to the lender.

Inspectors report on condition of the house and major components to the buyer.

So – expect both appraisal & inspection in your transaction.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: How Can The FHA Assist Me In Buying A Home?

How Can The FHA Assist Me In Buying A Home?

 

Buying a home soon in the Cape Coral or Fort Myers area? An FHA loan maybe worth exploring.

Remember these points from the video:

The FHA works to make homeownership a possibility for more Americans.

With the FHA, you don’t need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring smaller down payments than conventional loans.

In fact, an FHA down payment could be as little as a few months rent. And your monthly payments may not be much more than rent.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: How Can I Keep Track Of All The Homes I See.

How Can I Keep Track Of All The Homes I See?

 

Buying and trying to organize all the homes you are looking at in Fort Myers or Cape Coral?

There are some great tips in this video, like:

If possible, take photographs of each house: the outside, the major rooms, the yard and extra features that you like or ones you see as potential problems.

Write things down as you go. And don’t hesitate to return for a second look.

Use the HUD Home Scorecard (www.hud.gov/buying/checklist.pdf) to organize your photos and notes for each house.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: How Do I Begin The Process Of Buying A Home.

How Do I Begin The Process Of Buying A Home?

 

Looking to buy a house in the Fort Myers or Cape Coral area?

Remember these pointers from the video: start by thinking about your situation.

  • Are you ready to buy a home?
  • How much can you afford in a monthly mortgage payment?
  • How much space do you need?
  • What areas of town do you like?

After you answer these questions, make a “To Do” list and start doing casual research. Talk to friends and family, drive through neighborhoods, and look in the “Homes” section of the newspaper, or online.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: What Details Can I Ask Brokers In Advance.

What Details Can I Ask Brokers In Advance?

 

Selling a home in the Fort Myers, Cape Coral or surrounding areas? This video tells you what any real estate professional would tell you.

Ask them:

  • How long do homes in my neighborhood currently stay on the market?
  • How would you price my home?
  • What data did you use to arrive at that price?
  • How would you market my home?
  • What activities would you expect of me to market my home?
  • How will you handle representation if one of your buyers is interested in my home?
  • May I speak with sellers you’ve recently represented?
  • How long a period would you want on a listing agreement for my house?

It’s best to ask these questions, and be comfortable with your choices before signing a listing agreement.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: How Do I Set The Price On My House.

How Do I Set The Price On My House?

 

While this video simplifies things to help you remember when selling your Fort Myers or Cape Coral house, your aim is to get the best price AND terms in your market during the period you’re selling.

Market conditions, interest rates and competition all matter.

The price you want, and the price a buyer will pay are framed by those complex conditions so pricing isn’t completely predictable.

Other factors include:

  • How your home compares to other homes for the same buyers
  • The inventory of homes and the level of buyer demand

Your needs also affect negotiations – for example, if you must sell quickly – but the final price will be determined by the market not by your needs.

Buyers look at the same comparables and market conditions and they want to pay as little as possible while meeting their needs.

Remember that the price isn’t the entire deal – repairs, closing, points, appliances and other factors can all change the value you finally receive. Listen to your broker, stay informed, be patient if you can and make your best reasonable, unemotional decisions.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post to learn more about Why Using a Realtor may be a great consideration when selling your home.

Why Use A REALTOR®

 

A state license is required to sell real estate. But roughly half of those licensed take the additional step of becoming a REALTOR®.

As we show you in this video, only members of the National Association of Realtors – NAR – are entitled to use that registered trademark and call themselves a REALTOR®.

As members, they adhere to a strict Code of Ethics and have access to classes, seminars and certification. Their aim is to be experts in their community aware of real estate trends and local and neighborhood issues. They apply that expertise to help buyers and sellers succeed.

You can find a certified REALTOR® in Fort Myers or Cape Coral by looking in local sources, asking around or searching here: http://www.realtor.com/realestateagents

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post to learn more about How Do I Make A Home Ready To Sell?.

How Do I Make A Home Ready To Sell?

 

Have a home to sell in the Fort Myers or Cape Coral area?

As we show you in this video, start several months before the property is made available.

Look through the eyes of a buyer:

  • What needs to be cleaned?
  • Repainted?
  • Repaired?
  • Or tossed?

Ask yourself – or a friend If you were buying this house what would you want to see?

The goal is to show a home that looks good, makes the most of its assets, like space and location, and attracts as many buyers and as much demand as possible.

Allow yourself enough lead time – not just a day or two – to make the most of the sale.

Lastly, get help from a real estate agent early in the process.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post to learn about What To Look Out For During The Final Walk Through?.

What Should I Look Out For During The Final Walk-Through?

 

About to close on a home in the Fort Myers or Cape Coral area?

Well, as this story shows, a Final Walk-Through will likely be the first opportunity to examine the house without furniture giving you a clear view of everything.

Check the walls and ceilings carefully as well as any work the seller agreed to do in response to the inspection. Any problems discovered previously that you find uncorrected should be brought up prior to closing. It is the seller’s responsibility to fix them.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post to see What Are Home Warranties And Should I Consider Them?.

What Are “Home Warranties”, And Should I Consider Them?

 

Whether you are buying a new home or an older home in the Fort Myers or Cape Coral area, a Home Warranty maybe a good idea.

You’ll see some pictures in this video to help you remember later, but essentially, home warranties offer you protection for a specific period of time, such as one year, against potentially costly problems like unexpected repairs on appliances or home systems which are not covered by homeowner’s insurance.

Warranties are becoming more popular because they offer protection during the time immediately following the purchase of a home a time when many people find themselves cash-strapped.

At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post to see Is An Older Home A Better Value Than A New One?.