July 2001
Risa's Pieces
Volume 4 Issue 7
Questions I Am Often Asked
When an offer comes in, you can accept it exactly as it stands, refuse it (seldom a useful response) or make a counteroffer. In evaluating a purchase offer, you should estimate the amount of cash you’ll walk away with when the transaction is complete. For example, when you’re presented with two offers at once, you may discover you’re better off accepting the one with the lower sale price if the other asks you to pay points to the buyer’s lending institution. Once you have a specific proposal before you, you can calculate net proceeds.
* Payoff amount on present mortgage;
* Any other liens (equity loan, judgments);
* Real estate commission;
* Legal costs of selling (attorney, escrow agent);
* Transfer taxes;
* Unpaid property taxes and water bills;
* If required by the contract: cost of survey, termite inspection, buyer’s closing costs, repairs, etc.
I can guide you through this aspect of the selling process … and much more.
Call me for more information.*
NOT READY TO MOVE? THEN REMODEL!
The money spent on a good remodeling project can be recouped very quickly. In a new study, “Cost vs Value,” Remodeling magazine asked real estate agents what percent of the cost of remodeling projects would be recouped if the house was sold within a year. Respondents said two types of remodeling projects — kitchens and additions containing master bedrooms or family rooms — can return 88 percent of the cost within a year. The next most valuable project is a new roof or sunroom, which recoups about 60 percent. Learn more at http://www.remodeling.hw.net.
Cartoon of the Day
compliments of WhitePalm
Why Use a REALTOR®?
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR® logo on their business cards or other marketing and sales literature. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
This months joke:
Question What do you call a boomerang that won't come back?
Answer: A stick
Question: Thinking of Buying a Home?
Answer: You’re in a stronger bargaining position — meaning, you look particularly welcome to a seller — if:
* You are an all-cash buyer; or
* You are already preapproved for a mortgage; and
* You don’t have a present house that has to be sold before you can afford to buy.
These circumstances put you in a good position to negotiate down from the list price. On the other hand, in a “hot” seller’s market, if the perfect house comes on the market, you may want to offer above the list price to beat out other early offers. In this situation, it’s very helpful to find out why the house is being sold and whether the seller is under pressure.
Buyers also have an advantage if they can settle quickly. Here are three situations when the ability to move quickly will help you:
* Every month that a vacant house remains unsold represents considerable extra expense for the seller. So the sooner you can settle, the better.
* If the sellers are divorcing, they may just want out quickly; and
* Estate sales often yield a bargain in return for a prompt deal.
Give Risa Saltman a call at 1-800-699-4901.
July favorite links:
Click here Happy Birthday America
Click here Patriotic Crafts - Makingfriends.com
Click here Some Pets Prefer a Quiet Fourth of July Celebration
Click here Free Vacation Guides
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Risa's OrlandoHomeStore
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