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Avoiding Homelessness

“I want to sell my home, but I have nowhere to go!”  This is a common scenario that we run into with our clients these days.  Due to the shortage of available homes on the market, many people are having trouble identifying a home they would like to move into once they sell their current home.  As a result, they are hesitant to put their homes on the market until they find their next home first.  

But what happens when a client finds the right home but needs to sell their current home in order to buy the new one?!  Most home sellers are unwilling to accept a contract that is contingent upon the successful sale of their of the buyer’s home unless the house is officially on the market, or even better yet, already under contract.  So how do our clients pull this off without putting themselves in a position of being homeless? 

We’ve come up with a strategy that has helped many of our sellers go after a home that is right for them as soon as it hits the market without having to list their home first.  By implementing this selling strategy, we can effectively have a client’s home on the market within 24 hours of them giving us the “green light” with our full marketing campaign in place.  Normally, the process of correctly putting a home on the market can take up to 2 weeks, but by being proactive, we can cut that timeframe down to just one day.  This allows our sellers to wait to put their homes on the market without losing the ability to put a competitive offer on a new home. 

If you’re in this situation and would like to discuss things further, fill out the form below.  We will reach out to you and come up with a plan that not only allows you to seamlessly move from one house to the next but also meets your other goals from selling your current home. 

Posted in: Home Selling Tips Tagged: best real estate agents knoxville, best realtors knoxville, holli mccray, home marketing group, real estate agents knoxville, realtors knoxville, selling my home knoxville

How to Decide What Home Repairs Should Fall to the Seller

How to Decide What Home Repairs Should Fall to the Seller

Written by:  Natalie Jones / homeownerbliss.info

Buying a house is a complicated decision, and once you’ve settled on “the one” and are wrapping things up, sometimes there is a hiccup. If there are repairs to be made or maintenance concerns, how do you determine what you should plan on handling yourself, and what falls to the seller? And what about the costs involved?

Start with a Professional Inspection

Right off the bat, one home repair-related expense that falls to the home buyer is an inspection. The cost of a home inspection is based on the size of the home and how long it takes, but it generally will fall in the $278 – $390 range. A small, new house will likely be less than an older, larger house. Typically, the inspection is arranged during contract negotiations.

Along with the many other expenses involved with buying a house, it can be tempting to skip a home inspection. However, there are plenty of good reasons to invest in a professional inspection when you’re buying a house. It’s a chance to ensure the home is up to par, examining the structure and functional elements so you don’t have any unpleasant surprises when you move in. It’s also a chance to back out of the deal if there is something beyond your expectations, and an opportunity to reopen negotiations with the seller.

What if Problems Are Found?

No house is perfect, and it’s not unusual for a home inspection to reveal issues. What then? The home inspection report will indicate what items need immediate repair, and what is less critical. It also might recommend contacting a licensed contractor to examine something specific.

Regarding negotiations, consider what issues are safety concerns and what constitutes cosmetic issues. For instance, you’ll probably need to replace broken doorknobs yourself (you can find new knobs at Home Depot for less than $10), while a termite problem is more serious.

If there is a problem, you should carefully weigh what you would be comfortable asking the seller to fix on your behalf. Think in terms of what is normal wear and tear, and keep in mind you aren’t likely to get those fixed. Instead, focus on repair requests for things like safety issues and structural defects. Sometimes a seller will insist on selling the home “as is.” This means that if you purchase the home, you’ll be responsible for all necessary repairs, including for major fixes such as infestations, roof issues, and mold problems.

In a seller’s market, you shouldn’t be surprised to see all requests rejected, but they might be more readily received if you frame the repairs as an investment opportunity on the seller’s part. You can also ask to get repairs credited off the purchase price. You also might be able to get a home warranty with the purchase.

Plan Ahead

In anticipation of putting a home on the market, professional home sellers and real estate agents often recommend an inspection to help set sellers up for success. It’s a chance for homeowners to avoid deals being delayed, unanticipated expenses, or closings falling through at the last minute.

As Forbes explains, a pre-inspection is essentially a good-will gesture on the part of the seller, suggesting transparency and peace of mind to the buyer. What’s more, it provides the opportunity to make repairs ahead of listing the home, and can also spotlight recent upgrades.

Another key method for showcasing a property’s features is home staging, and professional home sellers and real estate agents are turning to pros for staging more than ever. It’s a chance to give sellers a leg up in a competitive housing marketplace, and often can result in quicker, smoother sales.

A professional home stager knows how to use art, furniture, window treatments, lighting, area rugs, and greenery to bring out the best in a house. They can create a look that appeals to a wide variety of palates, enhance traffic flow, and show a house’s best features while downplaying its faults.

 

Navigating a home purchase is challenging, and home repairs can derail things quickly. A professional inspection can help you decide how to proceed. Ensure you find a dream home to keep you safe and happy, rather than a money pit.

 

Posted in: Home Selling Tips Tagged: help selling my home in koxville, home buying tips, home inspections, home inspections knoxville, home inspectors knoxville, homeownerbliss, natalie jones, negotiating home repairs, should i get a home inspection, what is a home inspection

Home Staging Tips To Help Sell Your Home

Maximize the appeal of your home…

 

Home Staging Tips to Effectively Sell Your Home

What is Home Staging?

Home staging is the act of preparing a private residence for sale in the real estate marketplace.  The goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money. –Wikipedia

Home staging, when done correctly, is a valuable tool that can lead to more money in your pocket at the closing table. Whether you do it yourself or hire a home staging company, you absolutely MUST invest some time (and possibly money) into staging your home for sale.  Trust us, you’ll be happy with the outcome!

Should I Hire a Professional Home Stager?

There are definite benefits to hiring a professional to help stage your home.  Aside from making your home look better in photographs and open houses/showings, the return on this investment will be seen in the price that your home commands when the offers start coming in.  Here are a few reasons why you should consider a home staging consultant or company:

Perspective – A professional does not have the same personal attachment to your belongings and furniture and will be able to create a clear and defined “look” that is more attractive to buyers and less personalized to your taste.  The goal will be to create a look that speaks to your home as a whole, not just one room at a time.

Experience – Reputable home stagers are very good at their jobs and have most likely done it for a long time.  Not only do they know exactly what to do, but they will also be able to get your home ready to bring buyers in faster than you’d expect.  The home stager’s expertise in traffic/crowd flow and design fundamentals lend themselves to success when attempting to get top-dollar.

Resources – A professional home stager will know exactly what they need to improve your space, and exactly where to get it.  From furnishings to art, an expert stager will acquire everything needed to make their vision a reality and get positive feedback from potential home buyers.

DIY Home Staging – Where to Begin?

Contrary to popular belief, home staging does not require a huge investment but it will take some time if you’re doing it yourself.  These simple tips can be very helpful to get your home market-ready:

Clean & De-clutter – This tends to go without saying.  Perform a deep cleaning of your home that includes the insides of cabinets and closets and all those corners you tend to ignore.  Put personal items away in storage boxes and try to maintain a neutral look that isn’t overly tied into your personal tastes.

Make it Cozy – Home staging is successful when potential buyers can already envision themselves living in the space.  Set the table, bake some cookies, and place fresh flowers around the home to give it a warm, happy atmosphere.  Be sure that lighting around the home is adequate and always open the blinds/curtains for showings. A clean and well-lit home that smells nice is always more appealing than the alternative.

Furniture and Walls – Move furniture away from the walls to make each room appear larger. Consult the web if you need some inspiration!  Opening the space will help the flow through your home and make it seem less “boxed-in.”  A new coat of paint is also not a bad idea, keeping in mind that neutral colors always work best.

HMG works with some great local home stagers, so hen you’re ready to sell your Knoxville-area home, contact us so we can help you get started on the path to home selling success!

Posted in: Home Selling Tips Tagged: home selling tips, home stagers knoxville, home staging tips, how to sell my home, real estate agents who stage homes, selling my home

Pricing Your Home Correctly: Why It Matters

How much should you ask for your home?

Pricing Your Home Correctly

Pricing a home correctly is the main factor that determines how fast and how much money it will sell for.  Of course one wants to get the full value for their home, but overpricing it can have unintended consequences. The first step to getting the best price is to determine your home’s value by taking the following factors into consideration:

  • Your home’s value may depend on the recent sales prices and current list prices of comparable homes in your area.  After reviewing these prices, your price can be properly adjusted according to current market trends and the specifics of your home (ex. square footage, bedroom count, age, certain improvements).
  • Buyers tend to look in the price range determined by their monthly budget. They’re are often very knowledgeable about the homes in their price range and purchase one by comparison.  Above market asking prices tend to be an immediate turnoff and will turn away most buyers.
  • Inviting a potential buyer to make an offer shows that you are willing to negotiate.  However, if your asking price is too high, then the buyer may not see the point in even making an offer and move on to another property.
  • It’s necessary to offer pricing, terms and conditions that are competitive in your market.  This will help you sell faster and for more money.

 

Accurate pricing sells homes faster and for more money

If your home is priced below market value it will generally sell faster.  However, leaving money on the table doesn’t usually sit well with most sellers.
Pricing your home too high typically results in far less showings, and most of those do not generate offers.  It also results in a lower sales price when the house finally does sell.  According to extensive research done by Keller Williams Realty International, homes that required 1 or more price reductions sold for less money than homes that required no price reductions!  For example, homes that required 3 price reductions sold for 88% of the original list price and took, on average, 146 days to sell.  Homes that required no price reductions sold for 99% of their original list price and took, on average, 40 days to sell.
The conclusion?  Pricing a home correctly from the start ensures that your home will sell in the shortest time possible and for the best possible price. Sounds great, right?!

 

Selling your Knoxville area home for the highest possible price

The Holli McCray Group consistently sells homes faster and for more money because we know how to properly price our listings.  Our honest and accurate approach to pricing homes in the Knoxville area provides our clients with a solid understand of what their property is truly worth in today’s market.  We have a team of experts who have provided values for hundreds of properties in our area using the most accurate and relevant data, so you can feel confident in our home value opinions.  We offer no-obligation home valuations, so you find out your home’s current value even if you don’t plan on selling it right now. 

Learn more about selling your home in Knoxville, TN and contact us when you’re ready to sell.  Curious about your home’s value? CLICK HERE for a general idea of what your Knoxville area home is worth.

Posted in: Home Selling Tips, Knoxville Real Estate Agent Tagged: for sale by owner knoxville, home prices knoxville tn, home pricing strategies, how to sell your home, selling your home

7 Ways To Increase Your Home’s Value On A Budget

7 Home Improvement Ideas Under $1,000

Budget Friendly Home Repairs The Holli McCray Group

 

Implementing one or more of these affordable upgrades can help increase your home’s value…

 

1. Install programmable thermostats

According to the U.S. Department of Energy, heating your home accounts for more than 40% of its total energy usage.  Adding programmable thermostats help to maintain a consistent temperature in your home to avoid costly highs and lows.  Remember to drop the temperature inside your home by a few degrees while sleeping or when you’re out of town.  This strategy can lead to huge monthly savings.  The long-term savings in utility costs will be also appealing to potential buyers when your house is on the market.

2. Updated fixtures

It’s amazing how much a new fixture can breathe new life into any space.  Both your kitchen and bathrooms will benefit from items such as new drawer and cabinet handles. When new cabinets for the kitchen aren’t an option for your budget, new hardware and possibly fresh cabinet paint are simple (and affordable) ways to update the overall look of the room.  Other items such as faucets, light fixtures, ceiling fans, and doorknobs also help create a fresh new look for a home.  Just make sure the new fixtures you install match and are the same style throughout…

3. New tile floors

Bathroom a bit “blah?”  Install a brand new tile floor to breathe life into the space for an instant upgrade. Tile is easy to clean, low maintenance and also resists germs as well as allergens.  Tile is also ideal for high-traffic areas both in the bathroom and throughout the home. There are thousands of tile options out there that can fit almost any budget.  If you’ve never installed tile before, we recommend a professional tile installation contractor, so please let us know if we can refer one to you.

4. Replace old toilets

The overall visual appeal of your bathroom can be enhanced by simply replacing an old, cracked, or outdated toilet.  It only costs a few hundred dollars to purchase a new one, and the impact will be worth every penny.  Also, many newer toilets use less water than older ones, which will help to reduce your water bill.

5. Updated window treatments

New window coverings are an easy way to enhance a room.  We love the look of plantation shutters and upgraded blinds!  We recommend the faux wood blinds, not only because they are cheaper than traditional wood blinds, but because they tend to last a lot longer.  Standard width windows are easy to shop for, so check any large home improvement store for basic blinds (most allow you to customize the length right in the store).  For custom or irregular windows, odds are you’re looking at a special order situation.  If your budget allows, definitely consider plantation shutters for that upscale vibe — they can be a major selling point when it comes time to sell…

6. Replace the front door

We’ve said it before and we’ll say it again: Curb appeal is everything, and the front door is one of the first things a potential buyer will see!  It’s also the outdoor focal point of your entryway.  Give your home a facelift and replace (or re-paint) the front door.  Keep in mind practicality and safety when choosing a door, and don’t skimp on the hardware. 

7. Create a walkway

There are many options when it comes to adding a new walkway path leading to the front door of your home, and it doesn’t have to cost a fortune.  Brick pavers add a classic look to the exterior of your home, but depending on your budget you may also consider stone, concrete, or even rocks.  Just make sure the walkway falls within the overall style of your home. You only have one chance to make a first impression!  It can be easily elevated when walking up a pretty new pathway to the front door.

Have you recently made budget-friendly improvements to your home?  We’d love to hear about them in the comments below!  When you’re ready to sell your home in the Greater Knoxville area, reach out to our team of experts and let us know.  We’ll be glad to come out and provide some ideas to help get your house ready to put on the market…

 

Posted in: Home Selling Tips Tagged: adding curb appeal to my home, home improvement ideas, home improvement tips, home selling tips, home updates that add value, how do i update my home

Are The Neighbors Affecting The Sale Of Your Home?

Your neighbors can sometimes make or break a deal on your home…

holli mccray group are neighbors affecting home sales

It’s official! The “for sale” sign has been placed in your front yard and you’re ready for showings to start.  You’ve taken all the steps to get your home “market-ready” and it’s looking great.  Curb appeal?  Check!  Repairs and new paint?  Check! But wait—there may be one factor that you haven’t considered: The neighbors…..  The way your neighbors behave could have a serious impact on your home sale.  Why?  Buyers know that once they purchase, your neighbors become their neighbors.  If you didn’t already address any potential neighbor situations before you put your home on the market, it’s time to assess the situation and take the appropriate actions if needed.

Ways Neighbors Can Sabotage Your Home Sale

No one wants to live next to a noisy neighbor. If you have a neighbor that is always playing loud music, hosting parties, and causing a nuisance, you could have a serious issue at hand.  Buyers can be very responsive to this, and that type of behavior could chase them away.  It’s not uncommon for potential buyers to drive by on evenings and weekends to see what the neighborhood vibe is like at different times. 

Neighbors with a messy or poorly maintained yard can also cause distress to potential buyers.  Nobody wants to live next door to a home with overgrown landscaping and weeds everywhere.  Many times this is the result of an absent neighbor, who could potentially be as dangerous as the dirty ones if they are away for months.  Leaving the house for an extended period of time can cause the grass to get high, infestations and other issues.  Imagine if the sprinkler system started leaking, the owner couldn’t be reached, and it caused a flood on adjacent properties?  Yikes!

How to Prevent Your Neighbors from Derailing Your Home Sale

A sensitive approach is necessary when dealing with neighbors whether you are selling your home or not, but if it is on the market, then exercise even more caution. You don’t want any retaliation or resentment to escalate the situation and create a worse scenario that could impact your open houses, showings and ultimately the sales price of your home.  Noisy neighbors that argue on the lawn, fight, or have teenage children that like to party can be hard to deal with and difficult to approach during such volatile situations.  Depending on the laws in your state or community, you can report certain incidents to the authorities so proper action can be taken.

Messy neighbors? The approach may depend on the size of the mess. If the mess is an issue of public safety, qualifies as a code violation, or goes against HOA rules, you can report the situation to the proper outlets. With the Knoxville city limits, visit the City of Knoxville Neighborhood Codes Enforcement Page to learn more about codes violations regarding dilapidated buildings, dirty or overgrown lots, illegal dumping and abandoned vehicles.

A face-to-face conversation may be in order if the mess doesn’t qualify as a public nuisance.  Stop by and explain to your neighbor that it would mean a lot if they could address the mess at least while the home is on the market.  During your conversation, make sure you are polite and reasonable.  Of course, if you find the situation to be uncomfortable or unsafe, then it may be better to step back and re-think the approach for another day.

It’s rare to live next door to the perfect neighbor (and if you do—consider yourself very lucky).  In day-to-day life, you may be willing to overlook certain things, but when it comes to finances and the sale of your home, sometimes the situation calls for a remedy.  The Holli McCray Home Marketing Group has a team of experienced listing advisors that are available to help guide you through any potential neighbor issues BEFORE selling your home so that you have the best chance to sell it for the highest price possible in the shortest amount of time.  Contact us today for a consultation!

Posted in: Home Selling Tips Tagged: best realtor in knoxville, help selling my home in koxville, home sales tips, how to handle neighbors when selling my home, how to sell my home in knoxville

Home Improvements That Can Help Sell Your Home

Are you ready to take the next step and sell your home?

Home Improvements That Help Sell Homes

There are many things to consider when putting your home on the market, one of them being home improvements and upgrades.  Sellers often ask us what home improvements they should do to help get top-dollar for their home.  From small updates to major projects, knowing where to allocate your time and money to attract the right buyers is crucial, so that you can sell your home for the most money in the shortest amount of time.

It’s the Little Things

Before buyers even come to see your home, they get their first impressions from the listing photos.  Making small changes to the home’s interior can help bring about a more clean and cohesive look.  Consider having your home professionally cleaned before the photos are taken.  Get rid of faded curtains and/or broken blinds for an instant refresher that won’t break the bank. Replace dated fixtures and appliances to provide a more updated look to the house.  Potential buyers can be easily turned off by small details.  Some buyers may even assume that since the little things around the home weren’t taken care of, then it’s likely there are issues with some of the bigger items such as the roof, HVAC system, and plumbing.

Paint, Paint, Paint

Painting is a relatively inexpensive way to improve the look of your home.  Freshly-painted walls with neutral colors will definitely help to enhance the overall appearance of the house.  Painting is generally a MUST if there are bright or bold colors that may not be attractive to most buyers.  Keeping a neutral color palette is essential so that potential buyers can picture themselves and their own furnishings in the home.  These colors also tend to make rooms look more spacious.  If the home’s exterior is faded, consider a pressure washing or a fresh coat of paint.  Be sure to stick to neutral color combinations outside as well to maximize curb appeal.

Major Projects: Worth it or Not?

While there’s no tried-and-true formula to guarantee that any home improvement will yield a higher selling price, there are definitely some that will help sell a house more than others.  For instance, if the roof is leaking this could potentially lead to more issues during the home inspection, so take care of it before that “for sale” sign hits the front yard.  On the flip side, adding a new media room, steam shower, or a pool may not be as prudent when considering your return on investment.  Certain upgrades such as a new HVAC unit conditioning can add a lot of value and appeal.  In Knoxville, temperatures can get up into the ‘90s, so many home buyers would prefer having an HVAC system is in good working order.  Other upgrades that typically yield a positive return for sellers are minor updates to the kitchen (example: adding new countertops), adding new bathroom fixtures and installing new flooring.  As a general rule of thumb, away from major upgrades that are deemed more of an “option” than a “must” when selling your home.

According to Remodeling Magazine, you’re less likely to recoup your investment in a full kitchen remodel than you are on basic home maintenance such as new siding. That said, homes with updated kitchens typically sell faster and for more money than comparable homes that do not have updated kitchens.  If you do opt to remodel, whether you plan to sell your home or not, make sure the style and finishes you select match the rest of the home.  Again, keeping the overall look somewhat neutral can help command a higher price at the time of the sale.

HGTV points out that, “What you’ll get back on your investment depends on the value of your house, the value of houses in your immediate neighborhood, the housing market where you live, how soon you sell after making improvements, and the quality of the project itself.  Installing a $10,000 stove in a $200,000 house, for example, ‘just doesn’t compute.’”  Before making the decision to any major home improvement, carefully consider whether it’s a necessity. Is it something that will actually increase the value and overall desirability of your home?  Don’t go overboard!!

Go Green!

Many of today’s home listings highlight green and eco-friendly features because sustainability is becoming more important to home buyers.  Which of these types of improvements will help sell your house?  One of the most effective improvements to make is adding energy-efficient windows, which could help recoup up to 70% of the cost when selling a house.  Other popular green features that are desirable to buyers include programmable smart thermostats, energy-efficient water heaters, high-efficiency appliances and landscaping with native plants that are easy to maintain, which also help improve curb appeal.

In today’s market, especially in the Knoxville area, buyers will pay a much higher price, even over the list price in some cases, to purchase a home that is updated and considered move-in ready.  We strongly recommend discussing any potential improvements or home staging ideas with your real estate agent before making any final decisions.  The Holli McCray Home Marketing Group listing team is always available to answer any questions you may have about what improvements to make to help sell your house. Contact us today!

 

Posted in: Home Selling Tips Tagged: for sale by owner tips knoxville tn, home improvement ideas, home improvement tips, how do i update my home, how to sell my home knoxville

How To Sell A Home With Pets

4 Tips for Selling a Home With Pets

How to Sell a Home With Pets

We love our furry family members, and apparently so doesn’t the rest of the country.  Recent surveys by the Humane Society of the United States show that approximately 79.7 million households in the U.S. own pets.  Are you one of them?  If so, it may take a few extra steps before selling your home, but the payoff will be well worth it.  Your Mission: Eliminate any and all evidence that a pet lives in the home for open houses, showings and listing photos.

Start Outside

The inside of your home may be top of mind when trying to keep everything looking presentable for potential buyers, but don’t forget the outside!  Dog owners — you know what we’re talking about!  Be sure all evidence of the dog is gone. That means picking up all dog waste (yes, even at the very back of your property line). The last thing anyone wants is a big mess on their shoes while touring your home.  Also, remember to collect any dog toys, water bowls, leashes, and even consider moving an outdoor doghouse into storage temporarily.

If You Can Smell It, You Can’t Sell It

Let’s talk pet odor.  There is nothing that can kill a showing faster than the smell of a cat litter box, wet dog, or pet dander.  Addressing the odors from pets is essential to selling your home in the least amount of time for the most money.  Masking pet odor with an air freshener, essential oils or candles is a band-aid is typically not a great solution.  It’s time to call in the professionals for a deep cleaning if the pet smell is coming from carpets or furniture.  If you’re unable to find a temporary spot to keep your feline when potential buyers are visiting, clean the litter box prior to a showing and dispose of the waste in an outdoor trash receptacle to manage the odor.

Hide the Evidence

Family pets leave a trail of evidence in their wake.  Eliminating pet hair and dander from furnishings, upholstery and carpets before a showing or open house is key.  Run the vacuum over every single surface with pet hair.  Additionally, put your pet’s belongings away.  That means food bowls, beds/furniture, toys and leashes.  Also consider that your pet may have done damage to the home, so fixing such items is paramount. Inspect doors for scratches and, of course, carpet stains which fall into the “odor” category above.  For more tips on keeping your home clean with pets, you may also enjoy these tips from Martha Stewart. (http://www.marthastewart.com/894553/clean-house-tips-pet-owners#396448)

Relocating your pet during a showing is the ideal situation.  Contact a local pet boarding facility before you put your home on the market to determine if that will be a good fit for you and your pet.  Or, contact a neighbor or friend/family member to see if they can keep your pet during showings when possible.  If you must keep an animal in the home while potential buyers are present, be sure it’s safely confined to an area where it cannot escape or make contact with the people coming in and out of your home.  A pet crate in the garage works well, or a dog run in the backyard if it still allows for the property to be viewed completely.  Whatever location you choose, try to make your pet as comfortable as possible to minimize stress and anxiety.

Insurance

It doesn’t hurt to double check your homeowner’s insurance policy and be sure there is adequate coverage in case of an accidental dog bite or injury while someone is touring your home.  Believe it or not, this DOES happen from time to time.

 

Thinking about selling your home in the Knoxville, TN area?  The expert staff at The Holli McCray Group is always available to answer questions you may have about getting your home ready to put on the market.  Feel free to contact us directly or or find out what your home is worth today.

 

Posted in: Home Selling Tips Tagged: how to sell my home, pet odor in my home, real estate agents knoxville tn, selling a house with pets, selling my home knoxville tn

Understanding Closing Costs Involved with Buying or Selling a Home

….so what’s your bottom line?

Closing Costs - Buying or Selling a Home

Closing costs are big part of buying or selling a home.  Each side of the transaction has its own set of costs, so it’s very important to know what they are in order to make a calculated estimate as to how much money you’re going to make from the sale of your home or how much money you need to purchase your dream home.

Buying a Home:

Aside from your down payment, closing costs are fees associated with your home purchase and home loan typically payable at or before the closing.  The amount you’ll spend on closing costs can be a surprising aspect of buying a home if you aren’t prepared.  They can affect your budget, so it’s a good idea to know what they are before making an offer on a home.

So just how much are closing costs?  As a rule of thumb, closing costs to buy a home can run between 2 and 5 percent of the purchase price.  The wide range varies depending on where you live, the price of the property you purchase and the type of loan you choose.  The following is a list of common closing costs. You may not see all of them in your transaction and/or there may be additional fees not reflected below, but this list covers the vast majority of the types of fees you can expect.  Always check with your lender and closing agency you’re working with prior to your closing to confirm exactly how much your closing costs will be. 

  • Loan Application Fee
  • Appraisal Fee (sometimes payable prior to closing)
  • Attorney Fee
  • Escrow Fee
  • Courier Fee
  • Credit Report Fee
  • Escrow Deposit for Property Taxes
  • FHA Up-Front Mortgage Insurance Premium if you have an FHA loan
  • Flood Determination or Life of Loan Coverage
  • Home Inspection (generally payable prior to closing)
  • Homeowners Insurance
  • Lender’s Policy Title Insurance
  • Lead-Based Paint Inspection
  • Loan Discount Points
  • Owner’s Policy Title Insurance
  • Loan Origination Fee
  • Pest Inspection (sometimes payable prior to closing)
  • Prepaid Interest
  • Private Mortgage Insurance (PMI)
  • Property Tax Escrow
  • Recording Fees
  • Survey Fee
  • Title Company Title Search Fee
  • Transfer Taxes
  • Underwriting Fee
  • VA Funding Fee (if you have a VA loan)
  • Pro-Rated Property Taxes (based on the closing date)

Selling a Home:

It’s important to have a basic understanding of the costs  associated with selling your home as well.  Knowing these costs will allow you to come up with an accurate estimate of how much you will actually make from the sale of your home.  Here is a list of costs you may need to account for:

  • Mortgage Balance(s) (call your lender for the payoff)
  • Realtor Commission
  • Buyer Closing Costs Paid for by the Seller
  • Outstanding HOA Dues or Assessments
  • Pro-Rated Property Taxes (based on your closing date)
  • Title or Attorney Closing/Settlement Fees (contact the closing agent for this figure)
  • Pre-Paid Home Warranty for the Buyer
  • Outstanding Invoices to Contractors for Repairs
  • Outstanding Liens or Judgments Attached to Your Home

 

Our expert staff is always available to answer any questions related to closing costs from buying our selling a home.  Before making a decision on whether or make or accept an offer, we can help you put together a preliminary “net sheet” that will give a solid estimate as to what your closing costs will be. 

Posted in: Home Selling Tips, How to Sell My Home Tagged: closing costs buying a home, closing costs real estate, closing costs selling my home, what are closing costs

6 Landscaping Tips to Boost Curb Appeal

6 Things You Can Do To Make People Fall In Love With Your Home!

 

Boost Curb Appeal with LandcapingYou’ve heard it before:  You only have one chance to make a great first impression! This is especially important when selling your home.  Put yourself in the mind of a potential buyer: How will they feel the first time they pull up to your home?  Does it scream “Buy me!” or “Drive on by?”  The appearance of your landscaping should not be overlooked when placing that “For Sale” sign in your yard.  A well-kept lot with neat landscaping goes a long way with buyers. It shows that you care about the property and have taken good care of it.  Here are a few tips to help keep your yard looking its best without breaking the bank…

1. Keep it neat! 

Mow, trim, and cut should be your three buzzwords here.  A little bit of yard maintenance goes a long way.  If you can’t handle the maintenance yourself, consider hiring a landscaping company to avoid the perils of a scraggly and overgrown yard.  On the same note, be sure that bikes, toys, trash cans, garden tools, etc. are all stashed out of sight.

2. Plant native plants. 

Add some new life to your yard with native plants.  They’re aesthetically pleasing, practical, and ecologically valuable for landscaping.  Native plants are the most hardy plants.  Learn more about plants native to the Knoxville area at: http://www.se-eppc.org/pubs/east.pdf 

3. Define borders and add mulch. 

Clean edges trick the eye into thinking that the entire landscape is neat and well-kept.  Outlining the border of a garden bed with spray chalk, followed by use of a mattock or pulaski to chip away any encroaching lawn will help create a well-defined area.  Afterwards, add a layer of mulch to refine the look!  It will help keep the weeds at bay while your home is on the market, AND will even out the overall landscaping look. 

4. Get rid of the dead weight. 

This goes along with number 1, but deserves its own mention.  Be absolutely sure to remove all dead or dying shrubs and perennials.  If there was any sign of disease or infestation in your landscaping, dispose of these items in black trash bags; DO NOT compost them with other yard waste. 

5. Inspect sprinklers and irrigation. 

You can have the most beautiful yard on the block, but if it’s not watered correctly then what’s the point? Be sure your sprinkler system and timers are working. It’s the least you can do for your landscaping!  This inspection should be one you perform each spring/summer. 

6. Light it up! 

Remember, buyers might do a drive by in the evening.  Consider adding some landscape lighting to boost curb appeal and add value to your home.  Solar pathway lighting and accent lighting that highlights landscaping features are both relatively simple ways to step it up in the yard department. 
If you’re considering selling your home and need some advice on getting it ready to put on the market, don’t hesitate to contact us for a no-obligation home evaluation.  You can also visit our website to get a free online home value estimate.

 

Posted in: Home Selling Tips, How to Sell My Home, Selling My Home in Knoxville Tagged: boost curb appeal of my home, home improvement tips, how to sell my home knoxville, landscapers knoxville tn, landscaping tips knoxville tn

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