BUYING TIPS

Here is help so you can do it right the first time!

THE HOME BUYING PROCESS

Buying a home is one of the most significant investments in life. Not only are you choosing your dwelling place, you are most likely investing a large portion of your assets into this venture. There are many benefits of Owning Your Own Home.
Some of them are:

* A Good Investment
* Income Tax Deductions
* Stable Monthly Housing Costs
* Forced Savings
* Freedom and Individuality
* More Space

Home buying can be a confusing process. From establishing a comfortable price range… searching for and viewing that special property… making an offer… getting your loan… and finally the closing. The more prepared you are at the outset, the less overwhelming and chaotic it will be.

FLEMING Real Estate, is committed to making your buying experience as simple and easy as possible. Your agent will take you step-by-step to your Dream House, answering any questions you may have along the way, in terms you will understand. Our goal is to provide you with detailed information to assist you in making an intelligent and informed decision. Remember, if you have any questions about the process, we are only a phone call or email away!

Even if a buyer has bought and sold multiple properties in the past, if they are cominf from another area, the process and methods may be different here. Usually, you, and your agent will know what you like and don't like after viewing just 3 houses.

With increasing buyer demands, multiple offers are possible, and very common. It is important for you to have a jump start on the competition to minimize confusion and maximize you getting the property of your choice. Please continue to red the following additional information to help make your buying experience a smooth one. Contact us when you want great service, and knowledge of the Cape May Area market.

PRE-QUALIFYING FOR A MORTGAGE

When you are ready to make an offer on a property, a pre-qualification letter from a lender is an asset when it comes to negotiating the deal. Sellers may view your PRE-approval as a more secure offer, and may accept yours over another due to this one factor alone.

A second benefit is that the buyer will know beforehand exactly what they're qualified to buy. It also helps you understand any issues that need to be addressed and items that might be needed to apply for the loan, etc.

You can see why it is important to start this process first, sometimes even before looking at any property.

On our website, you can check our calculators concerning financing. However, once you arrive in our office we can put you in the hands of several local loan officers who can counsel and guide you as to the most advantageous and appropriate financing for your needs.

The loan officer will give you a Good Faith Estimate of the closing costs involved. There are recurring costs that are included in the monthly payment, such as homeowner's insurance and property taxes (the monthly payment consists of principal, interest, taxes and insurance and is referred to as PITI.

It may be possible to deduct some of the costs of financing. You can check with your accountant for possible tax benefits. There are a number of tax advantages available for most American homeowners, but to benefit, you have to understand them, and report them properly to the IRS.

Loan approval documents usually needed with your application: Two most recent pay stubs, W-2's for the last 2 years (or if self-employed, 1040's for 2 years), federal tax returns for the last 2 years, last 2 months' bank statements, long-term debt information (credit cards, child support, auto loans, installment debt, etc.), proof of the funds for your down payment.

SUBMITTING A COMPETITIVE OFFER

Now you have found just the right house! You will greatly enhance your chances of getting the home of your choice by submitting a strong competitive offer with your professional at FLEMING Real Estate.

We can check the comparable home sales data to help you see if this home is priced fairly, and how it relates to others similar to it that have sold. There is no point in overpricing since it won't appraise! Please keep in mind, your time is valuable, so making a low offer rarely will get you far in this active marketplace. Submit the offer as if there will be multiple offers, and with as few conditions as possible. There may be counter offers. A fair offer usually generates a fair response.

When you are comfortable with what you will be offering, we begin to prepare the New Jersey Real Estate Contract. It addresses what stays with the house, such as the stove, dishwasher and if built-in, the microwave. Window coverings, fountains, pool equipment, lighting, screens, etc. are also examples of what stays.

Also addressed are the terms of the offering price, including which method of financing, the closing date desired, the title company is stated. If the home has well water, or a septic system, there are certain seller obligations. Remember to read the contract carefully, in particular, the parts which refer to your rights as a buyer or seller, to seek legal council of your choice

There is a final walk through to make sure all is as it was when inspected, or if any repairs that were requested have been completed.

Please don't forget we are here to help. We would appreciate you telling your friends and family about FLEMING Real Estate and our website.

SELLING TIPS

Keep in mind the following considerations to help the whole selling process go smoothly

PRICING IT RIGHT THE FIRST TIME!

More buyers purchase their properties at market value rather than above market value. The percentages increase even further when the price drops below market value. By pricing your property at market value you expose it to a much greater percentage of buyers and increase your chance of a sale!

Setting an artificially high price may cause your property to languish on the market for months. Reducing your asking price later on may lead buyers to wonder if there is something wrong with your home It's a good idea to place your home on the market as far in advance as possible of purchasing a new one. If you find a new home first and then try to sell your present home, you may wind up with two mortgages.

PREPARING YOUR HOUSE FOR SALE

With some effort on your part, your home may sell more quickly and bring a better price. Do your utmost to get your property ready to SHOW and SELL!

SHOWING TIPS

1. Pack all personal items that aren't necessary for the remainder of your time in the house. The buyer wants to be able to visualize their own personal touches in place when they come to view. This is difficult when you still have yours around.

Before putting your house on the market is a great time to pack family photographs, collectibles, trophies, souvenirs and ornaments. Also remove any items that might make a statement that would be offensive to others who may not share your same views, beliefs or sense of humor. If your home is crowded with too much furniture, consider putting some things into storage.

When you have packed your personal items find somewhere outside of your house to keep them. Maybe a neighbor or relative close by will take care of them for a few weeks or renting temporary storage is an option. Do not keep the packed boxes in the house, you want to make it look as uncluttered and spacious as possible.

This is also a great time to get rid of all the other items you are not planning to move with you to your new home. Make sure every room in the home, including basements, closets, attics and garages are clean, tidy and clutter free. Why move all those things you have collected over the years but don't really use, save money, time and effort by sorting them out now.

Once you have packed your personal items and cleaned out unnecessary clutter it's time to review the condition of your house. It is difficult for any home owner to have an objective view. Ask your agent to review your home for you. Let them point out

FIRST IMPRESSIONS

2. First impressions are lasting ones! The front door greets prospects. Make sure it is clean and neat looking. A welcome mat in good condition is a GREAT idea.

Keep lawn well maintained. Grass should be cut and edged, hedges trimmed, leaves raked and gardens weeded. Plant seasonal colorful flowers to add a bright cheerful look.

Wash down driveways and sidewalks, check them for cracking and crumbling, and patch as necessary. Make sure the exterior siding is in good condition. A fresh coat of paint or a power washing will enhance "curb appeal". Your roof, gutters and downspouts should be in good condition and free of leaves. Keep garbage and debris stored out of sight?

A home that's visually appealing and in good condition will attract potential buyers driving down the street.

COSMETICS

3. Apply fresh paint as it will go a long way toward enhancing your home's appearance. Faded walls or worn areas reduce eye appeal - Keep them clean and free from smudges. If you need to repaint use light neutral colors. Beige and off-whites have the widest appeal to the largest percentage of buyers.

Don't make your prospects guess how your home could look - show them by painting walls and ceilings. Decorator touches, such as wallpaper, faux painted walls, and mirrors significantly enhance the value of your home.

Keep your home neat, clean and picked-up at all times. Shampoo dirty carpets. Cosmetic changes do not have to be expensive. Do NOT spend huge sums of money remodeling, remember you have no way of knowing what the next owners will like and dislike.

SET THE MOOD

4. Let the Sunshine in! Clean windows inside and out to give your home a "bright" airy feeling. Open blinds, shades curtains or drapes. Let prospects see how cheerful your home can be.Potted plants will add a warm feeling.

Bright cheerful lighting creates a positive environment. Replace burned out bulbs. During showings turn on lights. Turn off the TV, dishwasher, dryer and play soft background music.

MAINTENANCE

5. Evaluate your home for repairs as they can make a BIG difference. Fix or replace broken appliances, windows, tiles, cabinet handles, etc. Loose knobs, sticking doors or windows detract from your homes' value. Have them fixed if possible.

Be certain that all faucets, showers and toilets are not leaking and work correctly. Keep furnace and air conditioning units clean and well maintained. Remove dust and dirt from exterior of the unit and any air vents and in-takes. Keep units clean and well maintained.

Think safety first: Remove and repair all items that could cause visitors to stumble or be hurt in any way.

LIGHTEN UP

6. Arrange bedrooms neatly. Remove excess furniture. Use attractive bedspreads and curtains or blinds. Beds should be made and clothing put away.

In children's rooms try to keep toys tidy and not overly cluttered. Storage spaces appear much larger when they are neat and well organized. If possible, remove rarely-used items and off-season clothing. Uncluttered and organized closets appear much larger.

PEOPLE AWAY

7. Avoid having too many people present during a showing. Prospects may feel they are intruding and hurry through the home.

PETS AWAY

8. Keep pets out of the way whenever possible. Preferably outside the home during the showings or at least safely confined.

AROMA

9. Think, too, about how your home smells. Odors – from pets, smoking or cooking – can prevent a sale. Make sure your home looks and smells fresh. You may be used to the smell of a pet or cigarettes, but such odors can be a strong turn-off to others.

Cookies baking in the kitchen is a time-honored tradition among home sellers. Something about that smell makes folks feel right at home. Spray some vanilla in the air or just put a small amount of vanilla extract in water and put it in the oven on low. Place scented potpourri around. Make your house homey with live flowers

KEEP A LOW PROFILE

10. Be courteous and avoid conversations if possible. Allow the Agent to respond to the buyer's questions. If assistance is needed they can contact you later.

LET YOUR AGENT NEGOTIATE

11. Let your Agent discuss the price, terms, possession and other factors with the buyers. Real Estate Agents are eminently qualified to bring negotiations to a conclusion.