Maureen Harmonay - Coldwell Banker Residential Brokerage



Posted by Maureen Harmonay on 12/4/2018

Selling a home takes patience. Especially when youíre balancing your time between settling into your new home, and keeping up with your work and family life. So, when youíve finally gotten to the point of accepting an offer on your home, youíll probably breathe a sigh of relief--and you should!  However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.

Contingencies on the purchase contract

A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.

There are three main contingencies that will likely be included in the purchase contract before closing--inspection, financing, and appraisal.

Inspection contingency

The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.

Financing contingency

Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.

This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they arenít penalized.

Appraisal contingency

The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.

If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.

Walkthrough and closing

Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasnít drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.

Now youíre ready to close on your home sale. Youíll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.

While the closing process does include several steps, itís important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.





Posted by Maureen Harmonay on 11/27/2018

If you list your home and fail to stir up interest in it, there is no reason to panic. In fact, there are many quick, easy ways to ensure your house consistently garners homebuyers' attention.

Now, let's take a look at three tips to help you showcase your home to dozens of prospective buyers.

1. Bolster Your House's Curb Appeal

How your home looks to potential buyers can have a significant impact on the house selling journey. If your residence appears drab and cluttered, buyers may be reluctant to set up a home showing. However, if you enhance your residence's curb appeal, you could make your home an attractive choice to buyers.

To upgrade your house's curb appeal, it is essential to mow the lawn, trim the hedges and perform other lawn care tasks. Don't forget to repair or replace any damaged home siding too. Because if you make your home's exterior appealing to buyers, you may find that many buyers want to check out your house as soon as possible.

2. Eliminate Clutter

Clutter is a problem that home sellers must eliminate. Otherwise, excess items scattered throughout a home may make a residence appear small.

For those who want to cut down on clutter, it may be beneficial to rent a storage unit. You can rent a storage unit close to home that enables you to keep various belongings safe until your residence sells.

If you are ready to get rid of assorted items, you can host a yard sale or list these items online. You also may want to donate unwanted items to a local charity or give them to family members or friends.

3. Employ a Real Estate Agent

When it comes to generating interest in a home, it often helps to hire a real estate agent. This housing market professional knows how to promote a residence to buyers, and ultimately, ensure a seller can reap the benefits of a quick, profitable property selling experience.

Initially, a real estate agent will walk through your home and perform an in-depth analysis. He or she next will work with you to craft a house selling strategy and showcase your residence to buyers. Finally, if you receive an offer to purchase your home, a real estate agent will help you assess this proposal and determine how to proceed.

Let's not forget about the assistance a real estate agent provides after you accept an offer to purchase, either. At this point, a real estate agent will guide you through the closing stages of the home selling journey. And if you have any concerns or questions along the way, a real estate agent is happy to address them.

If you find that buyers are hesitant to view your house, you may want to revamp your property selling strategy. Thanks to the aforementioned tips, you can revise your house selling plan and take the necessary steps to get buyers interested in your residence.




Categories: Uncategorized  


Posted by Maureen Harmonay on 11/20/2018

Tired of living in the big city? No worries, as there is plenty of demand for residences in cities across the United States.

As a home seller, it is important to learn about a city's housing market. By doing so, you can understand what to expect before you list your property.

Ultimately, selling a home in the city can be a quick and simple process. Here are three tips to ensure you can add your residence to a city's real estate market and maximize the value of your house.

1. Check Out Comparable Residences That Are Currently Available

How does your home stack up against other houses in a particular city? Review comparable homes that are currently available, and you may be able to find ways to differentiate your residence from the competition.

Remember, an informed home seller understands the ins and outs of the local housing market. This individual will learn about his or her property's strengths and weaknesses, and as a result, discover ways to transform assorted home weaknesses into strengths.

Emphasize your city home's interior and exterior as you search for ways to enhance your residence. A clean, uncluttered home interior will make it easy for homebuyers to envision what life would be like if they purchase your house. Meanwhile, a dazzling home exterior will ensure your residence can make an unforgettable first impression on homebuyers.

2. Establish a Competitive Price for Your House

A competitive price can make a world of difference for home sellers in a big city. In fact, a home seller who prices his or her city home aggressively from the get-go may be able to streamline the home selling process.

To determine a fair price for a city residence, assess the prices of recently sold houses in your city. This housing market data will help you determine whether the current real estate market favors homebuyers or home sellers.

Also, don't forget to complete a home appraisal. This home evaluation will enable you to receive expert insights into problem areas throughout your home that you can correct before you list your residence.

3. Collaborate with a Real Estate Agent

A real estate agent is happy to serve home sellers in any way possible. This real estate professional knows what it takes to sell a city home and will allocate the necessary time and resources to promote your residence to the right groups of homebuyers.

With a real estate agent at your side, you should have no trouble stirring up plenty of interest in your city home. A real estate agent will set up home showings and open houses, promote your residence on social media and much more. Perhaps best of all, this real estate professional will respond to your home selling queries at any time.

Don't leave anything to chance as you prepare to sell your city home. Use these home selling tips, and you can increase the likelihood that you'll be able to maximize the value of your residence.




Categories: Uncategorized  


Posted by Maureen Harmonay on 10/30/2018

If this is your first home sale, you might be wondering about what your requirements are in terms of home inspections. A vital step in the closing process, professional home inspections are typically included in real estate contracts as a contingency (the sale is dependent upon their completion).

But, are there any situations in which a seller would get a home inspection?

In todayís post, weíre going to talk about why sellers might want to get their home inspection and how it could be useful to the home sale process overall.

To diagnose problems with your home

When youíre deciding on the asking price of your home, youíll want to take into account all of the things that could potentially drive that price down. Inspectors will look for a number of issues in your home, which can save you from any surprises when a potential buyer orders their inspection of your home.

The further along in the home sale process when you discover an expensive repair that needs to be made, the more complicated it makes your home sale.

So, if youíre in any doubt about whether your home will need repairs now or in the near future, ordering an inspection could be a safe option.

What do inspectors look for?

When inspecting your home, a licensed professional will look at several things:

  • Exterior components of your home, such as cracks or broken seals on exterior surfaces, garage door function and safety, and so on.

  • The structural integrity of your home; checking your foundation for dangerous cracks where moisture can enter and cause damage in the form of mold or breaks in the foundation.

  • The roof of your home will be checked for things like broken or loose shingles or nearby tree branches that could damage your home or nearby power lines in a storm.

  • The HVAC system will be tested to make sure itís running properly and efficiently and also that vents are clean and clear of debris.

  • Interior components of your home will be checked for safety and damage from things like pests and water damage.

Will the seller still order an inspection if my home just had one?

An inspection contingency is built into almost all real estate contracts to protect the interests of the buyer and seller alike.

In most circumstances, a buyer will want to get their own inspection performed. After all, they donít know who you went to for an inspection and whether they were licensed in your state.

The bottom line

Ultimately, if youíre planning on selling your home in the near future and arenít sure if your home may have any underlying issues, itís usually a good idea to get an inspection to make sure you can plan for any repairs or inform potential buyers of any issues with your home.




Categories: Uncategorized  


Posted by Maureen Harmonay on 10/9/2018

In some instances, it may be beneficial to reject an offer to purchase your home. Because if a homebuying proposal fails to meet your expectations, you may want to wait for another offer to come your way.

Reviewing a homebuying proposal and determining whether to reject this offer can be tricky. But we're here to help you evaluate an offer to purchase so you can decide the best course of action and feel confident about your choice.

Now, let's take a look at three tips to help you assess an offer to purchase and determine whether to decline.

1. Review the Local Housing Market

The housing market in your city or town is a major factor in the property selling journey. If you're selling your residence in a buyer's market, you likely face steep competition to sell your house and maximize its value. Comparatively, if you're operating in a seller's market, there may be an abundance of buyers and a shortage of sellers in place.

Take a look at the prices of recently sold residences and how long these properties were listed before they sold. You may want to consider the prices of currently available houses in your area that are similar to your residence too. With this housing market data in hand, you can differentiate a buyer's market from a seller's one and take a data-driven approach to decide how to proceed with an offer to purchase.

2. Weigh Your Home's Strengths and Weaknesses

You believe your home is great, but you also realize that your residence is far from perfect. As such, it often helps to weigh your residence's strengths and weaknesses relative to an offer to purchase and proceed accordingly.

For example, if a homebuyer submits a competitive offer to purchase your home in spite of its exterior damage, you may want to accept this proposal. On the other hand, if a buyer submits a "lowball" offer on your recently upgraded house, you may want to decline this proposal.

3. Consult with a Real Estate Agent

If you're unsure about whether to reject an offer to purchase, there is no need to worry. You can always hire a real estate agent, and this housing market professional can provide comprehensive support throughout the property selling journey.

A real estate agent is ready to help you in any way possible. If you need help listing your residence and promoting it to prospective buyers, a real estate agent can assist you. Or, if you want to find innovative ways to enhance your residence's curb appeal, a real estate agent can provide home exterior upgrade recommendations.

Of course, a real estate agent will work with you to review any offer to purchase your house. You and your real estate agent together can discuss the pros and cons of a homebuying proposal and make a decision that corresponds to your house selling goals.

Take the guesswork out of reviewing an offer to purchase Ė use the aforementioned tips, and you can decide whether rejecting a homebuying proposal is the best option.