March 2022 | Northumberland Real Estate

Making Your New House a Home

The process of looking for a new home for yourself and/or your family is sometimes excruciatingly emotional – and always tiring. After you sign on the dotted line and the house is yours, it’s time to be happy and feel settled, even if there are still boxes stacked to the ceiling. Even though you’re excited about the move to your new home, the first days and weeks may feel overwhelming and you may be a little disoriented. A few things that will make your house a home is planning a birthday party or decorating for and celebrating holidays. Memories you’ll create will make a difference.

Most home experts agree that the closets are where you should begin to make your house feel like a home. Kids may have school and you and your spouse may have to get up and go to work the day after you move in. If your closets are organized the future days will go much easier if you don’t have to rummage through boxes to get to your clothing and other necessities. Be sure to prioritize the kids’ rooms and make it their own as soon as possible. If old enough, let them unpack and organize things as they see fit.

One word of advice – wait to hang your artwork. Give yourself a chance to get to know the house before you decide where each piece belongs. Meanwhile, you can lean them against walls or other areas so you can see them while thinking about what you’re going to do.

Make yourself comfortable. Put clean bedding on the bed and be sure you include throws, pillows and anything else that will help you sleep soundly that first night in your new home.

Arrange the bathroom items. No one is comfortable in a shower without a curtain or a bath mat to step on when you emerge from the shower. Be sure there’s plenty of toilet paper and soap – and don’t forget the towels.

There’s nothing like familiarity of sounds and surroundings to make a house feel like a home. Clocks, chimes, favorite music and whatever else you can think of can take the newness off the home and promote feelings of comfort.

Pets are often ignored during a moving process, but they’ll feel and behave much better if you walk them around the neighborhood, set up their water and food bowls in a place they can easily access and set up the beds for them. Be sure to include their favorite blankets and toys too.

The stress of moving can be somewhat eliminated by sticking to your usual routine. If you have kids that come in from school and are used to hanging their coats on a rack as they enter the room, try to accommodate them with a coat rack in the new home. The routine doesn’t have to change along with the move.

Kirk Rickman and Victoria Carter
TwoMoveYou Real Estate Century 21 Brighton
6 Ironwood Cres, Brighton, ON K0K 1H0
647-697-7413

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Legal Forms You May Need to Sell Your House

If you don’t have a real estate agent handling all the sale documents for you, then you’ll need to keep track of what you need. You’ll have to start with a residential sales contract. This is what will spell out the deal between you and whoever’s buying your house. It has to contain certain key pieces of information like the sale price along with all the contingencies. All the terms of the finances need to be in there along with the information regarding the closing costs. The details of the home inspection need to be in that contract as well as any information about what appliances you’re leaving in the home. You’ll need to choose your closing date and have that in the contract, too. An average is about 30 days. In that contract, cover all the occupancy agreements between the parties. This should clearly state when you’ll be leaving. If you’re going to stay past the closing, then what you’re going to pay for should be in the contract. You need to have a property condition as well as a lead paint disclosure.

A property disclosure is what you use to mention anything in the home that’s in need of repair or any issues. You want to be honest and disclose what you know because it’s against the law not to. The year that your home was built determines the type of form you’ll have to use to disclose whether or not there is lead paint in the home. You can get this information from the EPA. If your house was built before 1978, then you’ll have to follow the federal law guidelines for that including making sure the sale contract specifically states that the home has lead and you’ve given the buyer all the required information such as the buyer’s rights.

There are certain addendums you want with a contract when you’re selling by the owner. One of these is third party financing. This is what gives you the ability to break the contract if the potential buyer’s financing falls through. If a buyer is assuming the mortgage, then you need a loan assumption addendum. In this, you’ll need to make sure that you cover who’s going to pay the loan assumption fee.

There can also be processing and closing fees. If you’re providing the financing, then you need a seller financing addendum. This document covers things like the credit terms, taxes, payments, late payments, title insurance and what’s due. You may need a promissory note if helping a buyer with the financing. This is basically the same thing as an IOU. The buyer is agreeing to repay the loan in a certain number of payments known as the terms. The note should have on it what will happen if the buyer doesn’t stick to these repayment terms. A promissory note can be refinanced by the buyer at a later date by using a bank or mortgage lender.

You may need to use a notice of termination. This is a form that’s used when you need to terminate the sale. This can happen for any number of reasons but it has to be a legitimate one. If the sale was contingent upon the buyer’s financing and it fell through, it can be used that way. Or it can be used in the event the settlement date can’t be kept or if contingencies weren’t met.

You don’t have to send a notice of termination if the situation is covered by one of the automatic terminations spelled out in the contract. A quitclaim deed is generally used with people that you know where you’re simply passing the property over to someone else.

When you use a quitclaim deed, you’re not usually making or taking any money in exchange. However, a quitclaim deed can also be used if there’s a problem with the title of the home. For instance, if your name is listed on the house as John A. Doe and you’re actually John B. Doe, then you’d use a quitclaim to correct that. A problem with the deed usually happens when the deed is filed.

Another reason for issuing a quitclaim is if someone else has a stake in the property because something wasn’t correct in the filing of the title – such as a couple divorcing and the spouse failing to give a quitclaim relinquishing his or her interest in the home.

Kirk Rickman and Victoria Carter
TwoMoveYou Real Estate Century 21 Brighton
6 Ironwood Cres, Brighton, ON K0K 1H0
647-697-7413

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Keep a Checklist During the Home-Buying Process

Buying a home is one of the largest investments you’ll ever make, so you need to get it right. One of the best ways to track your progress and be sure you stay on track is to keep a checklist of what you need to have to make it happen.

Of course you must know you’ll have enough money to pay monthly mortgage payments. If it’s going to be hard to make those payments and you end up with nothing at the end of the month, you may soon be sorry you made such a huge commitment.

Know your credit history and rating. If you’ve ever declared bankruptcy, are consistently late with payments or have many unpaid debts on your record, it may be more difficult to get a mortgage – or have to pay an outrageous interest rate.

You’ll also need to figure in property taxes and homeowner’s insurance payments that you will have to pay each month. Keeping a home in good repair is sometimes costly, so you must have the necessary income to fix things that break or don’t work properly.

Find a qualified house inspector and attend the inspection so you can ask questions and be better informed. It’s going to cost a bit depending on the size of the home, but it’s well worth the investment and peace of mind.

After the inspection, find a qualified repair person that will give you a written estimate for the needed repairs. Have your real estate agent submit the needed repairs and estimate to the seller and let him decide if he wants to do the repairs or lower the price of the house to fit the estimated costs.

Get at least three interest rate quotes from mortgage bankers or brokers. Then, consult with your lender to see if you can pay points to lower the rate. Many banks approve of paying up front to get the interest rate lowered, but you may have to pay quite a bit for it to be approved.

Bid smart based on prices of comparable homes in the area (recently sold). Begin a bit lower than those prices so there is room for negotiation. If you want to see if the seller will include some furnishings with the price, let him know at this time.

After your offer is accepted you’re ready for the final checklist when you conduct the final walk-through. You should check all appliances to make sure they’re in working order.

Be sure to plug something in to outlets to check for shorts and other electrical problems. Checking smoke detectors should also be on your checklist – and be sure to turn on both the heat and the air conditioner.

Turn on the faucets and flush the toilets, look for signs of pests, standing water or mold on ceilings. If there is anything that doesn’t work, is broken or missing from the home, be sure to let it be known during the final walk-through.

And last on your checklist – sign the contract. You’re then ready to move in and enjoy the next phase of life in your new home.

Kirk Rickman and Victoria Carter
TwoMoveYou Real Estate Century 21 Brighton
6 Ironwood Cres, Brighton, ON K0K 1H0
647-697-7413

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Is It Necessary To Use a Real Estate Agent When Buying a Home?

Buying a home is a big event, especially if it is your first home. There will probably be many things you don’t know, because you simply haven’t been through the home buying process before. One of the most common questions of first-time homebuyers is whether they need to hire a buyer’s agent.

There is nothing that requires anyone to hire a buyer’s agent. You can find homes for sale on your own and work directly with the seller’s agent. The problem with that is that the seller’s agent has the seller’s best interests in mind. He will try to get the highest possible price for the seller, and is in fact contractually bound to do so. He is also obligated not to share any confidential information about his client with you.

Working with a buyer’s agent gives you the advantage of having a knowledgeable and experienced agent looking out for your best interests. Your agent will help you find property that meets your needs. He will then assist you in negotiations to help you get it at the lowest possible price.

You can work with an agent without signing a buyer’s agency contract. In fact, it’s a good idea to do so for a while until you’re sure that you want that agent to represent you. You need time to determine whether the agent will listen to your needs, and whether the two of you will be able to get along.

An agent is not legally bound to keep information, such as the highest price you would pay for a property, confidential until you sign a contract with him. If he is a dual agent that also represents sellers and you want to buy a home that belongs to one of his clients, he has to share that information unless he is legally representing your interests. So keeping such things to yourself until there is a written agreement is a good idea.

An agent should not pressure you into signing an agreement right away. That is a bad sign in and of itself. If after a while you’re still unsure, you can talk to the agent about signing an agreement that only lasts for a short time. You could also consider a non-exclusive agreement, which allows the agent to represent you but also allows you to work with other agents.

A buyer’s agent is not necessary when you are buying a home, but having someone with experience on your side can make your home buying experience a more pleasant and potentially less expensive one. In many cases your agent and the seller’s agent will split the commission. That means that you can have your own agent without having to spend more money.

Kirk Rickman and Victoria Carter
TwoMoveYou Real Estate Century 21 Brighton
6 Ironwood Cres, Brighton, ON K0K 1H0
647-697-7413