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Preferred Properties of Texas

The Preferred way to buy & sell real estate for you

What to Look For on Your Final Walk-Through

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The final walkthrough of your new home can be a very exciting experience. You have completed all the necessary steps, including negotiations, inspections and financing approval. Now you are ready to sign your closing papers. Most buyers have already thought about paint colors and furniture placement before the final walk-through. The walk-through is more than just ensuring that your favorite chair fits by the fireplace. Do your due diligence and make sure that there are no issues you need to resolve before the closing table. The final walk-through will ensure that the home is in the same condition as when you purchased it.

Check for the following:

1) Check that there is no damage to the house that the sellers should be responsible for. The weather or careless movers may cause damage. Old and forgotten damage can be discovered when the sellers’ possessions are removed.

2) Make sure that all appliances are in good working order and that no new electrical or plumbing issues have appeared. You don’t need to do a full home inspection but you can check visually for obvious issues that should be fixed before you move in.

3) Verify that all items conveyed by contract are present. If the sellers agreed that certain furniture, decor or equipment would be left, make sure it hasn’t been removed.

4) Verify that the sellers have removed their belongings. You don’t need to arrive at the property with your moving truck to discover that the sellers have left behind a variety of unwanted furniture and trash. The sellers are responsible for clearing out anything that does not go with the sale.

Three Ways to protect wildlife during a controlled burn on your land

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Land ownership comes with many responsibilities. According to where you live, what type of land you own and how you use it, controlled burning may be one of your responsibilities.

Prescribed burns are also called controlled burns. They have many benefits for outdoor habitats. The benefits of controlled burns include reducing the risk for wildfires, and eliminating invasive plants. Burning can be essential for certain plants and animals to thrive.

All fires, whether they are prescribed or not, pose risks, particularly to wildlife. It is important to reduce these risks to the minimum to ensure a successful burn and to maintain a healthy environment.

How can you plan strategically to burn your land, without putting the wildlife in your area at risk? Here are some tips on how to ensure your controlled burn does not put animals in danger.

1. Do a few smaller burns instead of one large burn

Divide your burn area into smaller areas, leaving plenty of room for animals to flee. This will give animals a place to escape smoke and fire, as well as a way to keep your burn contained.

At least a part of the safe space should not be burned. This will give critters, bugs, and other wildlife a place to hide and run, as well as a hint of where to go.

2. Avoid Burning in Certain Seasons

When planning the timing of a controlled burn, there are several things to consider. When it comes to the safety of wildlife, this includes avoiding mating and breeding seasons which generally occur between mid-October and mid-May.

If you stick to the schedule, your burn will occur when most animals are inactive. If they are not already underground, many creatures such as mice and snakes will burrow to avoid the fire. Others will be able to get away more easily and start over somewhere else.

3. After the burn is over, do a walkthrough

If you take the necessary precautions, it’s unlikely that your controlled burn will cause any serious damage to wildlife. You should still walk around the burned area after the fire has been extinguished to look for any injured animals that may need your assistance. Call your local wildlife center and ask what to do if you see one.

When done correctly, controlled burnings can be beneficial to wildlife. Be sure to research state and local laws, and the permit requirements before you start. You may need to hire a professional crew depending on where you reside. Or you can do it anyway to ensure that the burn is done in a safe manner for you, your land and wildlife.

 

Original Blog: https://www.landhub.com/land-news/3-ways-to-protect-wildlife-during-a-controlled-burn-on-your-land/?inf_contact_key=008155622e7c4f34f1b1931be47c0cac680f8914173f9191b1c0223e68310bb1

What is a Real Estate Agent’s Role in Helping Sellers?

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You want to find a realtor that will make the process as easy as possible for you while maximizing your profit when trying to sell your home.

You may be a new agent, and wonder what sellers expect from you. They want you to represent them above all else. They want you to be transparent, to trust you and to minimize any headaches that they may experience.

The following are some of the skills that a great agent for sellers should possess.

Pricing

One of the best things a seller’s agent can do for you is to price your home properly. Many people describe pricing a home as both an art and science.

Agents use recent comparable sales to make their decisions. Knowing the local market and having experience are key to being able to use intuition.

A good agent will find the right price balance to keep sellers competitive while ensuring they get what their house is worth.

A real estate agent will conduct a comparative analysis of nearby homes that are currently on the market, have pending sales, or may have just sold. Your agent may have sold these comps, or at least seen them personally.

You might also wonder how an agent can be better than an online model of valuation. These tools have a high error rate. Zillow’s online calculator, for example, estimates the value of a home at around 20% of its actual value in 87.6% cases. This leaves a large margin of error. These tools cannot account for the nuances or variables that an agent experienced in pricing homes can.

Sellers’ agents should be present at inspections and appraisals in order to prevent any spin from the buyer agent. If an inspector states that a home will require a new air conditioner in five years, then the agent representing the buyer may spin the information by saying that the unit is defective. This can be prevented by a seller’s representative.

Get Your Home Ready

Cleaning a house is not enough to get it ready for the market. Listing agents are experts at maximizing the value of your home.

Listing agents can find out what improvements you should make and recommend who to contact to help.

Your agent will discuss the potential return on investment before you decide to make any improvements.

The agent will also stage the property if necessary. The agent can stage the property by removing clutter, furniture and other items that are not necessary. The agent knows how to help buyers imagine themselves and their belongings in the space.

Your agent can then hire a professional photographer to take photos of your home once it is in picture-perfect condition.

Marketing Expertise

Marketing is a key skill for a seller’s agent. They will know what buyers want and how to make your house appealing.

Your agent will showcase your home in the MLS as well as on social media. They do traditional marketing, such as open houses and flyers.

Buyers screening

It is stressful and time-consuming to try to sell your home. You don’t want to have to deal with unqualified buyers. Your agent will ensure that no one wastes your time. Even a buyer that is truly interested in buying your house might not be able to get financing.

The agents earn money by way of a commission. It is in both your and their best interests to eliminate and screen out unqualified buyers.

Your agent will only work with buyers who are pre-approved and have gone through financial verification.

A good seller’s representative can provide you with a great deal of value. Many of the things that they do, you cannot or may not want to do yourself. 

 

Original Blog: https://realtytimes.com/archives/item/1044820-what-does-a-real-estate-agent-do-for-sellers?rtmpage=

10 Maintenance Tips for New Homeowners

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As you learn how to care for your new home, you’ll likely make some mistakes. This basic checklist will help you to get started.

  1. Make sure to check gutters frequently. To make sure they’re clear of sticks and that they are properly attached. Verify that the water flowing from your gutters does not damage your home’s foundation.
  2. Test smoke and carbon dioxide detectors every month. Experts recommend that you also change the batteries of these devices as part your routine at the time when the clocks are changed in the spring and fall.
  3. Replace HVAC filters at home. According to the manufacturer’s recommendations, especially if allergies or pets are a problem. A dirty filter is a sign of an inefficient system.
  4. Check the trees on your property. Tree-service companies can provide you with advice on how to take care of your trees, and help identify weak branches that need to be cut.
  5. Check for running toilets or dripping faucets. The small inconveniences can lead to large water waste. You can fix most toilets and faucets yourself.
  6. Make sure you check the supply hose of your washing machine. It can leak and cause costly damage.
  7. Clean your dryer vent regularly. The dryer vent should not be confused with the lint-trap (which is also cleaned frequently). The dryer vent pushes air out of the house through a duct. However, it can become filled with lint which could cause a fire.
  8. Clean around your refrigerator. Keep the coils and vents under and behind your fridge free from dust to maximize its efficiency.
  9. Be aware of the gaps. Are there gaps or cracks where wires and pipes enter your structure, around windows or doors? Caulk and replace weather stripping if it’s damaged or missing. You will be able to keep your house insulated, and also keep out bugs and other small creatures.
  10. Have a pest-control expert inspect your home. Even if you don’t suspect signs of infestation.

You can see that maintaining your home is a big job. These tips are just the beginning. Ask your Realtor about other resources to help you maintain a safe, efficient and well-maintained home.

Original Blog: https://www.texasrealestate.com/members/posts/10-maintenance-tips-for-first-time-homeowners/?utm_medium=email&_hsmi=257660844&_hsenc=p2ANqtz-_lup9ragiZm-lx4eq-Mj_0TcndsbsjMvk536ktKaUvIcQoBeklgoE6qqMljG453ymwNC–urzcFA5kCenRp7Az7F37jQ&utm_content=257660844&utm_source=hs_email

Using a Cash-Out Refinance for a Second Home

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You can use the equity in your home in a number of ways. You can use it to purchase a second house.

If you are considering a cash-out refinance to purchase a second house, there are a few things to consider.

What is a Cash-Out Refinance?

Cash-out refinances are a way of refinancing your mortgage by converting your equity into cash. You get a mortgage that is higher than your old balance and the difference in cash.

One of the most common reasons for refinancing is to get better terms than what they had with their previous loan. You might refinance, for example, to lower your monthly payment or take advantage a lower rate of interest. Cash-out refinances are a great way to tap into your home’s equity and get cash.

In a cash-out loan, your home is used as collateral. You’ll get a new mortgage that is larger than the amount you currently owe.

How to Buy a Home with a Cash-Out Refinance 

Cash-out refinancing is only possible if your home’s current value is higher than the balance of your mortgage.

A lender will allow you to withdraw up 80% of the value of your house, minus any remaining balance.

You can use the money you receive to put down your next property.

As with a conventional refinance loan, you still need to qualify.

In most cases, lenders will require at least a credit score above 620 and a debt to income ratio of 50%, but preferably lower.

If you plan to use the cash-out refinance proceeds to purchase an investment property, expect to put down anywhere between 15 and 25%.

If you are buying a primary home, a lower down payment is accepted.

Lenders do not have any guidelines that prohibit you from using the proceeds of a cash-out refinance to pay for the down payment on another property.

Considerations to Keep in Mind

You can choose between a fixed rate or variable rate loan when applying for a refinance cash-out. If you receive a variable-rate mortgage, your payments may increase depending on the interest rates.

If you refinance with cash out, the interest rate of your new loan could be higher than that of your original loan. This means you may end up paying more over the life of your loan.

You need to decide if you can afford the extra interest you would pay if you bought another property. This can also extend the repayment period of your current debt, so it’s not always a good choice.

Closing costs can range from 2 to 5% of your new refinance loan. These will be deducted from your cash payout. You can’t add them to the mortgage.

A home equity loan is another option. Home equity loans do not have closing costs. This is a major advantage. This could be cheaper than a cash out refinance, if you have a mortgage with a lower rate than what is required.

The biggest disadvantage of a cash-out refinance, is that you will have to use your primary residence as collateral, even if it’s to purchase another home. Your lender can prevent foreclosure on your primary residence if you default.

 

Original Blog: https://realtytimes.com/archives/item/1045164-using-a-cash-out-refinance-for-a-second-home?rtmpage=

What’s the Contrast Between a Listing Agent and a Selling Agent?

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When buying or selling property, we always recommend that you have an experienced real estate agent by your side. If you decide to use a real estate agent, you might be wondering what the difference is between listing agents and selling agents. And which one would work best for you.

Listing agents and selling agent are different in that they represent different parties. While selling agents assist buyers in finding properties that suit their needs, listing agents promote properties on behalf of sellers. Both agents are essential to a smooth transaction and each has their own strengths and abilities.

What can you expect if you hire one? We’ll look at what selling and listing agents do and how they can assist you in closing your land deal.

Listing Agents: What are their responsibilities and what is the purpose of them?

You want to have someone who has experience on your side when you are ready to sell land. Listing agents help sellers in all aspects of marketing, listing and selling their properties.

A listing agent‘s main tasks include:

  • Price guidance and comparative research
  • Optimizing Land Listings, including coordination of videos, photos, and text
  • Overseeing marketing efforts
  • Coordination of showings
  • Networking in the real estate community
  • Receive offers and streamline buyer-seller communication
  • Organizing closing documents

Ask about the experience of the listing agent in selling land. Some agents may be skilled at selling residential homes but less confident (or less connected) in the land market. You need a listing agent that knows the market well and will guide you at every stage of the sale.

Selling Agents: Their Purpose and Responsibilities

Selling agents are also known as buyer’s agent. They work with land purchasers to help them find and buy their ideal properties. If you’re on the land hunt, a strong selling agent will be able to provide you with careful guidance backed by market insight. A good agent will also help you with all the tasks you need to complete before closing.

Selling agents may have specific responsibilities, such as:

  • Helping buyers to define their property needs in terms of location, price and land use
  • Looking into zoning laws and restrictions
  • Sorting listings and providing buyers a curated list of properties that match their preferences
  • Helping with pre-approvals and financing questions
  • Arranging showings 
  • Composing offers and communicate with listing agents
  • Helping to arrange inspections, surveys and other steps of the closing process

You should do the same thing as you would with a listing representative and make sure that a selling agent is familiar with land before you hire them. Selling agents who work primarily in the housing industry may not be familiar with the intricacies of buying land. As a result they won’t be as helpful in coordinating the various intricacies involved.

Preferred Properties of Texas  is here to help you find the right property to fit your needs. Gives us a call today!

Original Blog: https://www.landhub.com/land-news/whats-the-difference-between-a-listing-agent-and-a-selling-agent/?inf_contact_key=2e36e998235305cbb9d82c06cb3d63b2680f8914173f9191b1c0223e68310bb1

Preferred Properties of Texas

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