Carol-Ann Palmieri & Al Mussi's Blog
Want to sell your house? Ultimately, there are many questions that you'll want to consider before you add your home to the real estate market, including:
1. How Much Is My Home Worth?
Perform a comprehensive assessment of the housing market before you list your residence – you'll be happy you did. With real estate market data in hand, you'll be able to determine how your house stacks up against comparable residences and price it accordingly.
Furthermore, don't forget to get a home appraisal. This evaluation will enable you to better understand how your home's value has changed over the years. It also will allow you to prioritize home improvement tasks that will need to be completed to increase the value of your home.
Be sure to price your residence competitively as well. By doing so, you may be able to accelerate the home selling process and generate plenty of interest in your house as soon as it becomes available.
2. After I Sell My House, Where Will I Go?
You know you want to sell you house, but then what? You'll want to consider what life will be like after you sell your home and plan ahead as much as possible.
For example, if you plan to buy a new house after you sell your current residence, you may want to get pre-approved for a new mortgage. This will ensure that you can sell your current house and look for a new residence at the same time.
On the other hand, if you'll need temporary housing after you sell your home, you may need to put your belongings in temporary storage. Thankfully, you can always rent a storage unit and may want to start checking out storage options in your area. That way, you're ready to relocate your belongings to a storage unit as soon as your home sells.
3. How Can I Maximize the Value of My House?
As a home seller, you'll want to go the extra mile to optimize the value of your residence. Fortunately, there are many quick, easy ways to do just that.
Improving your home's curb appeal is a viable option to stir up interest in your property. Mowing the lawn and performing various home exterior improvements can boost your house's chances of making a positive first impression on homebuyers.
In addition, hiring a real estate agent enables you to eliminate the guesswork commonly associated with listing a residence. Your real estate agent will help you set realistic expectations for the entire home selling process and ensure that you receive the support you deserve at all times. Plus, your real estate agent will set up home showings, keep you up to date about offers on your residence and even provide home selling recommendations.
When it comes to selling your house, there is no reason to worry. If you collaborate with a real estate agent, you should have no trouble speeding up the home selling process and optimizing the value of your house.
96 Highwood Dr, Franklin, MA 02038
If you’re thinking about buying a home, you’ve probably heard a lot about closing costs. Closing costs can come at a hefty price- up to 5% of your home’s purchase price. When that amount must be paid up front, you need to make sure you have a sizable amount of cash on hand.
There’s many different kinds of fees included in the closing costs. Your lender will give you an estimate of what your closing costs will be, but you may not know what any of the terms that are included actually mean.
The Loan Origination Fee
This is the fee charged by your lender that covers the administrative costs that are associated with creating and processing a mortgage. This could also be called an underwriting fee.
Title Search Fee
This is how much the title insurance company charges to perform research on the title of the home. In some cases, the title may have some issues associated with it, so this research is to protect you. There’s also title fees known as lender’s title insurance and owner’s title insurance. You need to have lender’s title insurance, but owner’s title insurance is completely optional.
Credit Report Fee
This covers the obtaining and review of your credit report.
There’s also a fee when it comes to reviewing your mortgage loan application.
This fee covers the appraiser who is chosen by your mortgage company in order to assess an accurate value of the home.
Tax Monitoring Fee
This fee supports tax research on the home to determine if property taxes have been paid.
The property survey covers all aspects of the property bounds including gas lines, roads, walls, easements, property improvements, and encroachments.
The attorney fees will cover all of the document reviews, the agreements, and the escrow fees.
When you close on a home, your entire first year of home insurance payments must be made at the time of closing. If you have bought your home with an FHA loan, you’ll need to pay mortgage insurance premiums at closing as well. You’ll also need mortgage insurance payments if you put less than a 20% down payment on the home.
Escrow Property Taxes
The lender requires that you pay your property taxes up front. This money will be held in escrow and the taxes paid from there.
As you can see, there’s a lot that goes on during the closing of a home. Make sure you have some water handy, it’s going to be a long process! Understanding what will happen at closing when you buy a home can help you to avoid any surprise fees or financial burdens.
62 Highland St, Franklin, MA 02038