Home Buying

Time to Look at Houses to Buy

We have discussed the advantages of getting pre-approved from your lending institution. Now you have a starting point for looking at homes. Next, find a Realtor® to fine-tune your options and to find that home of your dreams and walk you through the process. Now it is time to look at houses to buy.

Then write down the must-haves you need remembering you most likely will be in the home for the next 20 to 30 years. How many bedrooms and bathrooms do you need? Do you want a big backyard for kids or dogs? Do you cook a lot where the kitchen is important? Do you entertain, where you would want a back, shaded deck? Do you want an attached garage and are the doors tall enough? Write these must-haves down.

Now we can start looking at houses. If your dream house is painted inside with horrible colors, do not overlook it. Most people repaint. Paint is the cheapest, fastest way to change the look of a home. If the house does not have some of your must-haves like a fenced-in backyard, could you fence the yard in yourself? The windows should be replaced but can you live with them for a few years before replacing them or do a few at a time?

If the house does not have central air-conditioning, can you add one? Does it have ductwork for it? Maybe try a mini-splitter? As you can see, many issues come with looking at a house and that is why a real estate professional comes in handy.

Even with the interest rates being high, home values have leveled off offsetting the higher interest rates.

More information can be found on our website, click the link below for more information: Winner Realtor & Winner SD Auction Buying Info | Shippy Realty | Winner, SD

Next week: inspections.

Home Buying, Home Selling, Real Estate

7 Common Real Estate Document Problems

7 Common Real Estate Document Problems By Karen Winrich @ Financial Literacy (financial-literacy.info) 

Buying a home might seem like a test of your patience  — if you’re tired of touring multiple homes, talking to your agent, and juggling the influx of paperwork, you’re not alone. Buying a home is a challenge. The latter of these elements — paperwork — can be particularly difficult to deal with when you’re trying to read, sign, and organize dozens of documents. Avoid these seven mistakes to simplify home ownership document management.

1. Incorrect Signatures

It’s unfortunately common for documents to cause delays due to an incorrect signature. If you’re rushing through paperwork and overlooking instructions, you may initial where a signature is required or vice versa. Take your time to avoid this mistake and ensure that you’ve signed every document in the homeownership process properly.

2. Wrong Mortgage Terms

Although it’s less common, it’s also possible to discover errors in the terms of your mortgage contract. If you received a specific guaranteed rate, for example — but your documents indicate a different rate — you need to contact your lender before signing. You should also research mortgage options before you sign any contracts. This will help you understand your budget and ensure that your credit score, employment, and income meet a lender’s requirements.

3. Ineffective Organization

Organizing your real estate documents effectively is yet another important part of the home purchase process. If your files are in a state of disarray, you won’t be able to find important information when you need it. Create a system to categorize and organize all of the files you’ve received and submitted.

4. Damage From Physical Storage

Even if you organize and store documents effectively, you shouldn’t dismiss the possibility of damage. Fires, floods, and break-ins are just a few of the potential threats. When you digitize your documents and store them online, however, you can minimize these risks. Use a PDF editor to combine multiple files, move pages, and order documents correctly, as well as quick and easy to delete certain PDF pages.

5. Lacking Legal Description

Sometimes, there are legal errors within documents that can cause a problem. If you’re reading your real estate contract and notice that it lacks a thorough legal description of the property, for example, you need to request a revision to remedy this issue. A legal description should include the physical address of a home as well as a description of its characteristics.

6. Unclear Contingencies

According to experts, some of the most common realty contract contingencies include conditions for financing, home inspections, and insurance. These contingencies outline the conditions which must be met in order for the transaction to close. If the contingency clauses in a document are unclear, though, you may find yourself dealing with delays.

7. Misspelled Names

Finally, misspelled names are a common cause of conflict in the real estate transaction process. Every party involved in a home purchase should thoroughly review its documents to make sure that their names are spelled correctly. Once a home deed is issued, if the name is incorrect, it can be difficult to change it.

Minimize Document-Related Stress by Avoiding Mistakes

If home ownership has you feeling like you’re swimming in an ocean of paperwork, you can take steps to get your files organized. Digitize your documents to organize them more efficiently, and research mortgages before you sign a contract with a lender.

Real Estate (Farm & Ranch Land)

Wood Deck looking Old and Rough

Is that wood deck looking old and rough going into winter? It might be time now to refresh the look of your tired deck by staining or painting.

Staining is by far the easiest method to use. Stains come in clear colors or different types of browns. Clear deck stains leave the wood looking its natural color. In our climate, apply stain every year for the health of the wood.

Semi-solid deck stains show a little of the wood grain, however, has a pigment to it like redwood color. They come in oil-based or water-based. The oil-based treatment penetrates the wood deeper. Once you use an oil-based stain, you need to keep using the same type of stain.

Solid deck stains cover the wood completely so you will not see the wood grain any longer. It will be like paint. Why would you use a solid stain or paint? If your deck is worn and looking rough, it might be a good solution.

You will pick paint over the stain for the endless colors and it will last a little longer. The con is to use paint, you need to use a primer, then paint (2 coats), and lastly apply a sealant on top of the paint when it dries.

Do not use house paint because it will peel and flake quickly. It is not made for high-traffic use.