Cape Cod Real Estate – Page 2 – Leighton Team | Condo Sales and Vacation Rentals at Ocean Edge

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Ocean Edge Brewster Condo Appraisals: What to Expect

An Ocean Edge condo’s selling price is determined by the seller’s real estate agent after doing his/her research on the condo itself and the price of comparable properties that had recently sold. Your real estate agent did their research when you decided to make the offer on the condo by checking the same stats, and determined a number you both were comfortable with offering. The mortgage lender does their own research to determine how much the home is worth by sending an assessor to find the value of the condo. Your idea of what the Ocean Edge condo is worth and the seller’s idea of what the condo is worth have nothing to do with the amount that the assessor finds the home is worth. The number the assessor comes up with is the only number your lender is concerned with, and will determine your loan. So who does Ocean Edge Brewster condo appraisals and what do they look for? Here is what you can expect when the condominium you are interested in purchasing goes through a home appraisal.

Who’s does Ocean Edge Brewster condo appraisals?

The appraiser is a non biased individual who has the task of determining the value of a piece of property. Not all home appraisers have to be licensed by the state, the law mandates that federally funded lenders only use home appraisers that have their state license to do appraisals for their properties. The majority of home appraisers belong to a national association of appraisers that requires them to act ethically, just as many real estate agents belong to national associations requiring them to act with a high ethical standard. Are the home appraisals always accurate? Typically home evaluations conducted by professional appraisers are pretty accurate. However, the accuracy of the appraisal is only as good as the information that the appraiser has regarding the property. If a home owner is on hand for the appraiser to answer questions, such as age of plumbing or flooring, the appraisal will be more accurate and complete. If the home owner is not available for the appraisal, the appraiser is still trained to make estimated guesses on the questions they are given to assess the property.

What Can Affect the Home Appraisal?

There are a number of factors that go into determining the worth of an Ocean Edge condo. The appraiser is trained to take all of these factors into consideration when coming up with the amount of money the home is worth. The local and national economy, foreclosures in the area along with where the home is located are some of the factors that have nothing to do with the actual property itself. The home is compared with other properties in the area to see how the condo stacks up to them, as well as the overall condition of the home and recent upgrades that have been done to the Ocean Edge home.

What Does the Appraiser Do?

Once the appraiser has gone to the property, they must inspect the condo completely from floor to ceiling, including the exterior. The home appraiser even takes a measurement of the home itself to make sure that they have the most complete information for their Ocean Edge Brewster condo appraisals. The appraiser then takes the assessment to their office to compare it with recently sold properties in the area, along with the other factors such as national and local economy, foreclosures and how this condo compares in condition to other similar properties. The appraiser goes a step further to check to see if there are any plans for development that might affect the home’s worth in the near future (such as a other large building developments coming down the road). All of this information is taken to the lender for them to make their determination. The best case scenario for both the seller and the buyer is that the appraisal comes in at the same price (or close to) as the sale price.

What Could Possibly Go Wrong?

The worst case scenario in regards to Ocean Edge Brewster condo appraisals for everyone involved is if the appraisal comes in below the selling price. At that point, the buyer has four options. The buyer could dispute the appraisal, ask the seller to come down in price, meet the seller half way in the price difference so they are approved for the loan, or the buyer comes up with a bigger down payment to decrease the loan amount. If you choose to dispute the appraisal and you feel it is not true to the home value, work with your real estate agent to find issues with the appraisal report. Double check the comps in the area to make sure that the appraiser did not make a mistake and see if the home’s upgrades are mentioned in the report. If you and your real estate agent feel that you have enough proof that the appraisal was not true to the home, the real estate agent can contact the lender to have a second Ocean Edge appraisal conducted. Typically appraisals are true, but mistakes do happen.

Ocean Edge Brewster Condo Appraisals: What to Expect

A lot goes into buying an Ocean Edge condo once you find the condo of your dreams. Appraisals are just one piece of the puzzle. Make sure you are ahead of the curve and know what to expect when buying your home by checking out our “Top 5 Home Buying Questions – Answered” blog. If you’re uncertain as to what to expect at the closing of your property, see “Hidden Costs of Buying a Home.” The best way to prepare yourself for buying a home is to go into the process knowing what to expect. Take the extra step and hire a real estate agent that is an expert in the area where you are buying property. Michael Leighton has been the #1 Agent at Ocean Edge since 2004 and the #1 Agent in the town of Brewster since 2007. Call Michael and his team today so they can find your dream condo at Ocean Edge.

October 17, 2016/by Leighton Team

Buying

8 Things You Should Not Say at an Ocean Edge Open House

Honesty is always the best policy, unless you’re a home buyer at an Ocean Edge open house. It is always a good idea to be honest and forthcoming with your real estate agent, but you might want to hold your tongue when dealing with the seller’s listing agent! Your real estate agent is obligated to you, and the listing agent is obligated to their client, the seller. Ocean Edge is a great place to buy, just check out our blog “5 Reasons to Buy a Condo at Ocean Edge.” Before you walk into that Ocean Edge open house, take a look at these 8 things you should not say at an open house to make sure you put your best foot forward, and not right into your mouth instead.

“I can spend $….”

Before you go to an open house, you should have an idea of what your budget is to spend on a home and what you can afford. It is a good idea to get a pre-approval letter from the bank so that when you find your dream home, it is easy to secure financing for that home. Your real estate agent should have an idea of what you can spend, but the seller’s real estate agent doesn’t need to know how much money you have in your purse to work with. Letting the seller know what you can spend on a home could hurt your ability to negotiate the price later if you decide to buy the condo. When calculating your budget, remember to keep in mind the money you need to come up with at closing. Find out about these closing costs in our blog, “Hidden Costs of Buying a Home.”

“This is the Ocean Edge condo of my dreams!”

Buying a home is an emotional experience. It is not just a financial transaction, it is deciding on where you’re going to spend your time and possibly have a family. It is important that when you are looking at the Ocean Edge open house, you contain your excitement for the condo even if you feel that this is the one you want to buy. It is perfectly acceptable to express to your real estate agent your desire to purchase the condo, but you do not want to let the seller’s agent know that you love the unit so much. This will give the seller the upper hand, and could hurt your price negotiations. If the seller’s agent knows how emotionally attached you are to the home, they will be less likely to lower the price because they know that you are already planning room colors for the different bedrooms in your mind.

“That dining table set is tacky!”

Just as your mother has told you before, if you do not have anything nice to say, do not say anything at all. Insulting the taste of the seller to the seller or the seller’s agent at the Ocean Edge open house will not get you any extra points when you submit an offer. If the seller has different taste than you do, it does not impact the property and is not worth mentioning. However, comments such as those might impact you if you are interested in purchasing the property. Negative comments about the decor could be taken personally and you could automatically be taken out of consideration if multiple offers come in for the condo at Ocean Edge. Sounds childish, but it is their choice and it has happened.

“I can’t wait to get rid of that!”

This is the same as commenting on how hideous a person’s taste in furniture is, you should keep the negative comments to yourself. Keep in mind this is someone’s home. You might not think that the owner is there, but some owners want to be present at their open houses, and linger trying to fit in as a potential buyer. Remember that this is someone’s home where they have built memories, and keep the negative comments to yourself. The owner could easily reject your offer or up their price if you do decide to make an offer purely because they were offended by your comments.

“I will give you (a really low offer)…”

Offering a low ball offer as a buyer could backfire. The home owners have the right to flat out refuse any offer, without countering. If the home owner refuses, you are out of the running. If you are working with a real estate agent, trust their judgement when it comes to offering a price that the owner would find fair and still consider a good deal for you. You want to make an offer that is either perfectly acceptable for the owner or a good place to start price negotiations. Do you have the right real estate agent? Find out by reading our blog, “5 Reasons to Be Thankful for a Great Real Estate Agent.”

“Why sell this Ocean Edge condominium?”

The condo you are looking at might seem like a dream come true, and you couldn’t imagine why the seller would want to part with the property, but under no circumstance should you ask why they are selling at the Ocean Edge open house. You might be curious, but you are likely opening up a can of worms which will make the sellers uncomfortable. The reasons for selling the property could be extremely personal and embarrassing for the owner, making them feel uncomfortable. The seller is obligated to disclose any issues that they are aware of to their real estate agent who is obligated to tell potential buyers. So if you’re worried that the condo is being sold due to a defect or structural issue with the home, it would be disclosed to you.

“You’ll never sell at this price”

The more houses you look at, the more of an idea you get about what homes are worth. It’s easy to feel like an expert once you have been to an open house or ten. However, not all houses are priced the same. Village location, layout, improvements, etc impact the price of a home. The seller’s real estate agent took all of this into account and came up with a price for the condo for a reason. Maybe they left room for negotiations, but if you are interested, discuss price with your real estate agent. Negative comments regarding the price at the open house will not help you buy the unit. Trust your real estate agent to help you come up with a reasonable offer for the property so no feelings are hurt, which could ultimately hurt your chances to buy the Ocean Ege condo.

“What Do You Think of Living Here?”

Quizzing the neighbors about the neighborhood is not the kind of first impression you want to make at the open house if you’re thinking of buying the property. It’s natural to want to get an idea of what it’s like to live in the home you’re thinking of purchasing, but don’t come off as a pest to a neighbor you’re going to have to live next to for a period of time. If the neighbors seem friendly and initiate a conversation, it is totally acceptable to casually ask, but keep in mind that everyone is different. What one person sees as a great aspect of a neighborhood might completely turn you off. Take a look around and research the area yourself to get an idea as to whether it is a good fit or not.

Things You Should Not Say at an Ocean Edge Open House

When you’re attending an open house at Ocean Edge, it is important to keep in mind the things you should not say at an open house. It is always best to keep your opinions to yourself whether you love the place and want to make it your own, or if you really do not care for the property. Negative comments will not help you purchase the property, which is ultimately what you want to do. Contact our team at Leighton Realty to help you with the purchase of your Ocean Edge condo. Michael Leighton has been the #1 Agent at Ocean Edge since 2004 and the #1 Agent in the town of Brewster since 2007. Contact us today and let us help you find your dream condo at Ocean Edge.

September 28, 2016/by Leighton Team

Selling

Stage Your Ocean Edge Condo for Fall Showings

Staging your Ocean Edge condo properly for the fall real estate market is important in order to sell your property quickly and at the right price. Ocean Edge in Brewster is a very desirable location with plenty of competition within the condo complex. Know your market and who you are trying to sell your home to during the fall season. Check out our blog, “How to Appeal to Buyers of Every Generation.” Ocean Edge condos in Brewster can be very appealing to various generations of buyers for many reasons, which work to your favor as a seller. For example, the amenities at Ocean Edge Brewster are very appealing as is the location of the complex. Make sure you do not miss out on your sale and find out how to stage your Ocean Edge condo for the fall real estate market and sell it now!

De-Clutter

A cluttered environment distracts buyers from being able to see the potential of your property and ultimately purchasing your Ocean Edge condo. You could be covering up your property’s best features by cluttering up your space and turning buyers off. This could cause them to walk away and check out neighboring condos for sale that are staged to show off the condo’s full potential. Clutter can give buyers the impression that your condo is small because of all of the stuff in the way taking up precious space. This could be overcrowded shelves, too much furniture or even bulky furniture that does not fit the space.

This is why it is important to tidy up and remove clutter before you start showing your cond to potential buyers. It might be a good idea to retain a storage unit to keep unnecessary furniture or belongings that take up too much space in your condo. Finding creative storage pieces (as mentioned in our blog “5 Ways to Maximize Your Storage Space“) to create homes for your smaller pieces. Creating a place to put away your smaller items when you are not using them organizes your space and reduces the amount of stuff laying around your home when showing your Ocean Edge condo.

Thorough Cleaning

This might seem like a no brainer, but doing a thorough cleaning of your condo makes a huge difference in the appearance of your property. A dirty home will instantly turn buyers away because this is your chance to make a first impression! If the condo looks neglected, the potential buyer will wonder what else is being neglected. Is there a major issue that is being ignored and will they have to deal with it once they buy the condo? A sparkling property will keep buyers focused on the important key features of your home, and encourage them to picture themselves living in this clean and new feeling home.

Consider hiring a professional cleaner to do a deep clean on your Ocean Edge condo. It may seem like an unnecessary expense, but a professional cleaning makes a big difference in the quality of the job done on your property. As the homeowner, you are familiar with your condo and know it best without a doubt. However, you are also comfortable with your home and maybe miss out on cleaning key areas that wouldn’t stand out to you, but would stand out to the home buyer. Avoid this by hiring a cleaner every few weeks to do a cleaning on your property. If you have de-cluttered and organized your space, it shouldn’t be too difficult to keep your condo in good shape in between cleanings while your property is shown. For more tips on how to prepare your home for selling, check out our blog “5 First Time Seller Tips.”

Depersonalize

When a buyer walks into your home, they need to be able to picture themselves and their families in that space. That is what will sell the home to the buyer. Walking into your home and seeing pictures of you and your family all over the place could make it difficult for the buyer to see themselves when they’re seeing you all over the condo. If your walls seem bare with all of your pictures down, consider hanging some mirrors to brighten the space and make it feel larger.

Remove pictures of yourself and your families from the walls and tables around your home so the buyer can only pictures themselves living in the space. Momentos from trips out and children’s artwork can also make your condo too personal for buyers, so consider putting these objects away until you move into your new home. Personal items are safer put away anyway when you are showing your home. It would be terrible to have your glass figurine from your child’s first Disney trip broken by accident as a buyer was viewing your property.

Define Space

It is important that every room in your home has a clear purpose and use. This will help the potential buyer envision themselves in this space. As we become more comfortable in our home, rooms often take on new roles as our needs change. A formal dining room may become a landing spot for backpacks and sports gear, and you eat dinner with your family in the kitchen or on the go. An office might become a laundry folding station and storage space. Whatever your rooms have developed with time, it is important that they have a purpose that is clearly communicated to the buyers.

Remove anything from the rooms that conveys a message that is anything different than what it should to define that space. If you work out in your office space, remove the elliptical machine, put it in storage and focus on making the room feel like an office. With the number of millennials working from home and spending time on their tablets or laptops, they need to be able to envision themselves in that space working. Empty nesters would like to see a dining room where they could invite their children over for dinner instead of a reminder of what they had when their children were young coming home from school dropping their things on the dining room table.

Stage Your Ocean Edge Condo

For a successful Ocean Edge showing, it is important that you consider the staging of your condo. Remove the clutter, clean your condo thoroughly, depersonalize and define the rooms in your home. Taking these steps will make your Ocean Edge condo stand out among the others, and get your condo sold in a timely manner for the right price! Michael Leighton has been the #1 Agent at Ocean Edge since 2004 and the #1 Agent in Brewster since 2007. Contact him and his team of professionals today to sell your Ocean Edge condo.

September 8, 2016/by Leighton Team

Buying

5 Ways to Maximize Storage Space Of Your Ocean Edge Condo

Are you planning to maximize storage space of your Ocean Edge condo? When moving to your new Ocean Edge condo (take a look at our 5 Reasons to Buy a condo at Ocean Edge), it is important that first you decide what you need to bring with you, and what you can part with. Once you decide what you need to keep, the challenge is how to keep necessary items accessible and still out of the way so your space is not too cluttered. When transitioning from a large space to a smaller space it can be challenging to fit all of the items you have accumulated throughout your life into your new condo. The idea of living in a smaller space because your children have grown up and moved out, or if you’re a single person who does not need a lot of space can be very appealing. Finding a storage solution for your belongings is important because a cluttered home will make the space seem smaller and less inviting. A clutter free space is more relaxing and functional because everything has its place, and it is put away off the counters and tables. Follow these creative and easy storage options to maximize storage space of your Ocean Edge condo today!

Creative Furniture Options

Look for multipurpose furniture pieces for your home. Wet coats, boots and gloves/hats can damage furniture and flooring if not properly stored. A bench with a tall back with hooks on it and baskets underneath the bench is a practical and easy way to prevent the clutter of boots and coats laying around damaging your property. Replace furniture that does not offer extra storage space for more practical pieces. Coffee tables with storage space underneath and hollow ottomans are great living room storage options for the room. In the bedroom, choose a bed with drawers underneath it or with plenty of room under the bed for you to put your own storage containers. Keep your seasonal clothes, shoes, books and momentos in those storage containers to free up space in your closet and around your room. A clutter free space instantly makes the room more relaxing.

Take a Good Look at Your Space

The solution to your storage problems might be more apparent than you think. For example, taking out the bulky cupboard in your kitchen and replacing it with shelves or a slender wire kitchen rack will allow you to open up more room in your kitchen, making it feel more spacious and still maximize storage space. Shelving in the kitchen is not only a great storage option, but also a time saver. It is easier to put your goods away on shelves than taking the time to organize a cupboard. Sometimes the solution to your storage issues are right under your nose. Are you utilizing the space as efficiently as you could? Ask your friends and family if they see any solutions your have not seen to maximize storage space of your Ocean Edge condo.

Divide Your Space

Separating your space into functional rooms with a book case not only provides storage space for your books and trinkets, but it also creates defined areas within your home. If it is within your budget, you may have a custom built in installed in your unit so it is the perfect size for your condo, so you can maximize storage space. However, there are more cost effective options at inexpensive furniture stores such as Ikea where they sell pieces of bookcases that you can buy to fit into your space to create the same effect.

Washer Dryer

If your condo has a full clothing washer and dryer setup, consider a stacking washer dryer combo unit. The capacity of those stacking units has increased over the last few years, and with the option of a front loading or top loading washer, you will have the same quality wash with that unit as a full sized washer. If space is your only concern, purchasing a small stacking washer dryer is an easy way to hide away your washing setup and increase your living space. Switching to a stacking washer dryer unit will not only save your space, but it could save you money in the long run. If you choose a high efficiency unit, (which most of them are), you will save money on your utilities and on your cleaning products (high efficiency units call for less detergent and water to run than the older less efficient models). Keep your receipt after you purchase your washer dryer unit. At tax time, check with your accountant to see if there is a tax break for purchasing your high efficiency washer dryer unit.

Hide It Away

If you do not use it on a regular basis, but you simply can not part with it, then hide it away. Put it in a storage container under your bed, or in a tote that you can keep on the top shelf of your closet. The point is that you designate a space for items that you do not use on a daily basis so you know where to find them, but the items do not crowd your living space. These items could be photo albums, trinkets from your travels that you do not have space to display or sporting equipment. It’s important to take inventory of what you are bringing with you to your new space so that you can plan where you are going to store your belongings. That way you can map out where you’re going to put it all without running out of space.

Maximize Storage Space Today!

It’s important to keep in mind that you’re taking all of your belongings with you, and that your life circumstances might change. If you’re single now, you might not be in the next couple of years. Look at your Ocean Edge condo and plan what you can do now to better organize your space for accommodating more people and belongings to maximize your storage space. Choosing what is important to keep and what you can part with is the first step before organizing your items. Remember that clutter can make your space feel even smaller and uninviting to guests. Follow these tips outlined above and maximize storage space of your Ocean Edge condo today. Make sure also read our blog about “Finding Your Dream Condo at Ocean Edge“.

August 22, 2016/by Leighton Team

Selling

7 Tips To Becoming the In Demand Condo at Ocean Edge Brewster

After some careful thought and consideration, you have decided to put your condo at Ocean Edge on the market. The first thing you need to do as a seller is change the way you look at your property. You are selling a product, your condo is no longer your home, it is merchandise that you are trying to sell to a potential buyer. Put your sales hat on, and try to figure out how to attract the most buyers with your home. Your home needs to stand out among the other properties and become the in demand condo at Ocean Edge Brewster. With these 7 simple steps, you can easily transform your house in to the in demand condo at Ocean Edge Brewster and sell it fast!

Be the Salesperson

Of course it is difficult to remove all emotions from selling your home. Your home is filled with memories that are priceless. However, in order to be successful in the real estate market, you need to try to overcome your emotional attachment to your home and turn it into a financial transaction. Homes with sellers who are focused on selling their property without hesitation tend to move their home faster and moving fast could result in a better financial situation. This is as a result of buyers who are eager to move into the home faster, and willing to pay more to make that happen or because you don’t have the extra mortgage payment due to selling the house so quickly.

Good Clean Help

Consider hiring a cleaning service to do a thorough cleaning of your home before you start showing it. Whether you have lived in your home 2 or 20 years, it is easy to miss certain things when cleaning your home because you’re so used to it. You probably unintentionally miss the same spots every time. You may not notice, but a potential buyer walking in your home might. A cleaning company scheduled to do a “deep clean” will give attention to those dusty and neglected spaces such as the baseboards or the tops of your furniture. You do not want your home to appear tired or dirty to a buyer. Some cleaning companies will go to your home for a free estimate before charging you for the cleaning.

What Buyers Want

The majority of buyers are looking for a home that is move in ready. They do not need to do a full face lift or major repair in order to move their furniture in and start their lives in their new home. Take a look around your property and ask yourself if the property looks tired or in need of repair. If you want your home to be the in demand condo at Ocean Edge Brewster, you need to be honest with yourself when evaluating its current condition. Before you schedule your first open house, check out our blog 7 Open House Mistakes Home Sellers Make.

What’s Trending

Start looking at home improvement magazines or switch on HGTV to see what the hot trends are in home design to transform your unit into in demand condo at Ocean Edge Brewster. Not too long ago, stainless steel appliances and granite counter tops were the hot feature in any home. Talk to kitchen and bath designers in your local home improvement store to see what the trends are, and price it out to see if the upgrades could fit into your budget. If you could do some updates that would appeal to the trends of today’s buyer, it will only increase interest in viewing your property in person when a person stumbles upon it on an online home search engine.

Picture Perfect

A good sales person needs to be concerned with how they are advertising the product they are trying to sell. When selling your house, the pictures are really important. Buyers are on their phone constantly looking at images of houses for sale. First impressions mean everything when selling your home. If you are not confident in your ability to take pictures of your home, or do not like the pictures from your real estate agent, consider hiring a professional to take the pictures for you. Make sure they take pictures of the key features of your home so the seller sees what makes your home stand out from the others. These features will set you apart from the other properties for sale at Ocean Edge and make your property the in demand condo at Ocean Edge Brewster.

Kitchen vs Bathroom

If you are considering upgrading a room or two, take a look at your kitchen and bathrooms first. It has always been true that the most important rooms to a buyer are the kitchen and the bathroom. If your kitchen or bathroom is looking tired or outdated, that will turn a buyer off right away. Focusing your attention first on those rooms will pay off for you in the long run and make your home the in demand condo at Ocean Edge Brewster. Sometimes a big renovation is not necessary, just some new hardware on the cabinets or a splash of paint.

Focus on Key Features

To become the in demand condo at Ocean Edge Brewster, you need to know what the key features of the home are and play them up! If subway tile in the bathroom is the hot features and you just installed it in your bathroom, make sure that you have a great picture on your listing and mention it in the description. These features help move homes faster, because buyers want them in the home that they are purchasing without having to do the work themselves. Sometimes you are lucky enough to have a house with key features that were there when you bought the house. For example, a beautiful hardwood floor is a key feature that many people are looking for in a home. Carpeting on Cape Cod tends to hold in moisture, creating a musty odor in the home, so solid flooring is always desirable for buyers.

You Are the In Demand Condo at Ocean Edge Brewster

A home seller that really wants to sell their home and move it as quickly as possible needs to think of themselves as the CEO of a business. The business of selling your house. Take an honest look at your product (your home) and do whatever it takes to make it appealing to buyers and bring you the most money. Selling your home can be a difficult and stressful time. Check out our blog, 5 First Time Home Seller Tips to make sure you are prepared!

For a free home valuation, contact Michael Leighton and his team. Michael Leighton has been the #1 Sales Agent at Ocean Edge since 2004 and the #1 Agent in Brewster since 2007. Contact our team and let us make your home be the in demand condo at Ocean Edge Brewster and sell it quicker and for more dollars!

June 16, 2016/by Leighton Team

Buying

5 Closing Day Problems and How to Fix Them

Purchasing a home is a stressful experience for anyone. Closing day on your home is an especially difficult day because you are signing off on your enormous purchase, and accepting it as it is. Unfortunately, problems at closing are like death and taxes, inevitable. Issues pop up all of the time on closing day, so do not panic. Some problems are small and easily resolved, while others could make you decide to walk away from the purchase all together. Here are the top 5 closing day problems and how to fix them.

Property

Typically the final inspection of the property is conducted on the day before or morning of closing day. The final walk-through is usually the source of the most unexpected problems for the buyer. This can be the most stressful of the closing day problems because the buyer has little time to react to any problems found during the final inspection. For example, a heavy rain storm could reveal a leaky roof issue or a basement that floods. It is difficult to assess the amount of work needed to make these repairs off the cuff unless you’re a contractor, so many times these issues cause the deal to fall through. However, last minute problems should not cause you to walk away from purchasing the home of your dreams. If it appears that a a big repair is needed, delay your closing until you get all the information. Arrange for estimates have have your repairs done by more than one contractor to get an idea as to how much it would cost to have the repairs made. Negotiate with the seller to pay for the repair, and put the funds in escrow. You’re so close to closing the deal, the seller will not want to start all over again, so they may be open to paying for some of the repair costs so they do not lose you as a buyer.

Title

An issue with the title is one of the closing day problems that may require time to remedy. Taxes owed on the property or liens or disputed ownership of the property are issues that could delay your closing. A title company would bring these problems to you before or possibly on closing day. Issues or “clouds” on a title could include judgments against previous owners where money such as child support is due, and encroachments, or property line disputes for the property.

Credit

Typically you are approved for your mortgage at least a month before closing day. A lot can happen in a month, so changes in your credit are possible. Unfortunately, changes in your credit score can impact your mortgage approval. While waiting to close, it is important to pay close attention to your credit rating and watch it carefully. Any late or delinquent payments on bills or loans, applying for an auto loan or a change in jobs would all effect your credit score. If you need to buy a new car or leave your job, wait until after closing day so you don’t lose your mortgage. A change in credit score could cause your mortgage to fall through. It is a wise idea to touch base with your mortgage lender the day before closing to make sure that everything is in order. For more information about your credit and how to maintain it for purchasing your home, check out our blog “Clean Up Your Credit Score Before You Buy.”

Seller

You fell in love with the home you are about to purchase for a number of reasons. Make sure that the furnishings or window treatments that were in the house when you first saw it are not part of the reason you fell in love with the home and decided to buy it. If you can’t imagine living in that house without the window treatments, and it is a big part of your love for the home, make sure that it is part of your agreement that those furnishings are left with the house. A problem buyers have on occasion is assuming that certain things would be left with the house when it is purchased. You could love how outside the kitchen window there are blooming rose bushes lining your view. Standing in that kitchen for the first time during the open house, you might have imagined yourself washing dishes overlooking that beautiful garden view. However, those rosebushes could be a gift from a deceased relative, so the previous owners are planning on taking them with them when they move (true story). Ask yourself if there is anything in or outside the house that makes the house more appealing to you.

Money

The biggest part of closing day is the transfer of money to purchase your property. Some banks require certified checks, while others prefer to use electronic transfers. Assuming that the bank will accept one instead of the other can hold up the closing because the bank might not accept your transfer method. Avoid this unnecessary hold up by finding out from your real estate agent and mortgage provider which method you should use to transfer your money to purchase your home. Double check all account numbers and exact dollar amounts to avoid any silly mistakes that could hold up your transaction. Do you have all the funds needed for closing day? Check out our blog Hidden Costs of Buying a Home to find out what to expect to pay on closing day.

Closing Day Problems

Closing day problems can put a damper on your closing day celebration, but most of the time they do not mean that the deal is off. All of these problems, property issues, title problems, credit score changes, and money transfer errors could delay your closing day, but they are not necessarily deal breakers. Closing day problems can cause the home buyer (and seller) extra hassle and headache but if the two work together, most problems can be resolved. Check out our “Top 4 First Time Home Buyer Mistakes to Avoid” to make sure that you’re prepared for buying your first home.

June 9, 2016/by Leighton Team

Buying

Home Warranty: Do You Need One?

Buying a home is a huge step that comes with a lot of responsibility. When renting an apartment or house, any repairs that need to be done to a property are covered by the landlord or property management company. As a homeowner, you are responsible for arranging and paying for your own home’s repair. First time home buyers are often caught off guard by the cost of routine as well as unexpected repairs that come along with owning a home. Purchasing a home warranty for your home is a great way as a first time home buyer to protect yourself from the cost of unexpected repairs with your new home.

Repairs for Your New Home

All of the systems and appliances in your home have a life cycle and can go at any time. It is important to be prepared for the unexpected when buying a new home. Your heating system could go down in the middle of the night mid February when the temperatures are hovering around freezing. Who would you call, how much will this cost you and how quickly will this be resolved? The cost of the repair and choosing the right person who will give you the best results at a reasonable price is usually the biggest concern for new home owners. How do you protect yourself and prepare for one of your vital systems or appliances to break down? One way to prepare yourself and cushion the blow of a costly repair could be a home warranty.

Who Should Purchase a Home Warranty?

If you are a handyman (or woman) who feels confident in their ability to fix anything, a home warranty might not be necessary. However, if you are not very handy, you might want to consider a home warranty. People who are used to renting and relying on a landlord to fix various problems are good candidates for home warranties. Real estate investors who are not able to do repairs for their tenants purchase warranties to avoid the hassle and headache of arranging repairs for their tenants. A lot of people work long hours, and do not have the time to find the right repair person to get the job done right the first time, so home warranty companies are a great solution.

What is a Home Warranty?

A home warranty is similar to that of an extended warranty if you were buying a car at the end of their factory warranty or an insurance policy on your smartphone to cover screen or water damage. For about $300-$900 per year, you could purchase a home warranty. If one of your system breaks, all you have to do is contact your home warranty provider to tell them what has broken. You could usually either call them or submit a claim online on their website. The home warranty company will then contact the contractor they have a relationship with to go to your home and repair or replace the system or appliance. For every incidence you will be responsible for paying a co-pay (as you do with insurance), but all other repair costs or replacement costs are covered by your policy.

When Should I Purchase a Home Warranty?

You can purchase a home warranty at any time. You do not have to make the decision when you first buy your home whether or not you want to make the commitment of choosing the right home warranty. It is important when considering a home warranties that you do your homework and shop around. All warranty programs are different, so you want to make sure you inspect the different policies to see what is covered and what the premiums come to. Keep in mind that the older your home is, the more coverage you will need. If you got a home inspection before purchasing your home, you will have a general idea as to the life expectancy of your appliances and services. Pick a home warranty that fits your home’s needs.

Home Warranty vs. Home Insurance

Home warranties are often confused with home insurance. Both warranties and insurance protect your home, but they cover completely different things. Home Insurance covers: roof damage from a hail storm, damage from a tree limb knocked into your window during a storm or a kitchen fire damages the walls. A home warranty would cover: your ac stops working suddenly, the oven is not working or your furnace won’t turn on. Home insurance covers most damage done to the structure of your home. A home warranty covers the repair or replacement of the SYSTEMS inside of your home due to normal wear and tear. If your clothing dryer door falls off because it’s old and has been used countless times, that would be considered normal wear and tear, which would be covered in your warranty. However, if your clothing dryer door falls off because your two year old was jumping on it when it was opened, that would not be considered normal wear and tear, therefore not covered by your warranty.

Should You Consider a Home Warranty?

Being a first time home buyer, you may feel overwhelmed by the whole home buying process. Check out our blogs Top Home Buyers Fears & How To Face Them and First Time Home Buyers Mistakes to Avoid. If you are a first time home buyer, do your research and find out if a home warranty is the right choice for you. Check out a couple of different warranty vendors to see what they offer and at what cost. Some properties will offer home warranties when you purchase the home. Sellers sometimes offer a home warranty as an incentive to purchase their home. There is no rush, so there is no need to decide before purchasing your home whether or not you want to buy a warranty before moving forward with making an offer on a home. Some people have the advantage of having a family member or friend who is an electrician or plumber so they do not have a hard time finding a reliable contractor when problems arise. However, if you do not have those connections, it can be hard to find a contract that is trustworthy to get the job done right the first time.

If you have questions about your real estate purchase, contact the professionals at Leighton Realty. Michael Leighton has been the #1 Agent at Ocean Edge since 2004 and the #1 Agent for the town of Brewster since 2007.

May 31, 2016/by Leighton Team

Buying

Cape Cod Vacation Homes – 3 Things To Consider Before You Buy

How many of us dream of driving off for the weekend to spend time in our Cape Cod vacation homes. A second home in a favorite spot to escape the every day is a dream come true. While so many of us dream of owning a second home, very few actually take the plunge and make their wish a reality. Are you able to make the leap and purchase a Cape Cod vacation home? Here are a few things to consider before making the leap and purchasing your vacation getaway.

Can You Afford It?

Before getting swept up in the romanticism of owning a second home, take a look at your finances. Remember that taking on the financial responsibility associated with purchasing a home goes beyond just adding a second mortgage. In addition to paying for a mortgage and taxes on the property, you need to pay for insurance and all of the utilities of the home even when you are not there. Although you will not need to heat the home year round to a level of comfort for you and your family, it will need to stay heated to prevent pipes from freezing in the winter months. However what many owners of Cape Cod vacation homes do is just have their property winterized by a professional. Winterization typically includes turning off the water, draining the plumbing system and blowing the lines clear of any water to prevent freezing damage during the cold months. It also includes treatment of toilets and drains with anti-freeze.

Another thing to consider is that life is unpredictable, and so is your home. Problems pop up all of the time. One good rain storm could uncover a leak in the roof of your current home that needs to be addressed immediately. This unforeseen expense is one of many that could pop up in your primary residence or even your second home. Make sure you have a nest egg to draw from if and when unforeseen circumstances pop up. Buying however a condominium within a well run association is an option, so you’re not left alone with those unforeseen problems.

Since your second home is not your primary residence, and most likely a bit of a distance from where you live, you probably won’t get to visit every week. If you have children, they are likely involved in activities that keep you from enjoying your holiday home. A property that is not inhabited or watched over for periods of time could be a target for burglary. The good news is that you can just hire a property manager to check in on your property. It’s a wise expense if you can’t check in on your property a couple times per month. If the mail is picked up daily, lights are on occasionally and the property is maintained, it is less likely to be targeted. Another option is buying within a condominium complex which can reduce this risk in the 1st place.

Location Location Location…

Picking the location of your second home can be tricky. Your second home is your escape from the day to day, so you want to be removed from your everyday reality to truly relax and enjoy yourself. However, if you choose a spot that is too far from home, how frequently will you be able to get there to make it worth the upkeep of a second home? If you’re only going to be able to enjoy your second home a couple times per year, is it worth the money spent on the mortgage, taxes and utilities? Buying a second home far removed from your primary residence means that in addition to accounting for household expenses associated with the home, you need to figure in travel expenses to get to the holiday home. That’s why Cape Cod vacation homes are a great option for New Englanders. You’re on the Cape within a few hours of driving, so vacationing for a week, just a few days or the weekend is possible. No need for spending hours of planning trips and expensive plane tickets.

Can You Offset The Cost Of Cape Cod Vacation Homes?

One of the great advantages of Cape Cod vacation homes is that you can fairly easy rent them out as summer rentals. Since most likely you won’t be vacationing all summer long at your Cape Cod summer home, it’s a good idea to just rent any summer weeks you’re not able to be here. This will help offset some of the expenses associated with your second home. There are plenty of real estate agencies, especially in seasonal communities such as Cape Cod that can help owners rent their Cape Cod vacation homes. Our rental division helps property owners from Orleans to Barnstable get their vacation homes rented. See for yourself all the Cape Cod Vacation Homes we currently have in our inventory. We make sure your property gets booked on dates that you decide you won’t be able to be at your property. Take a look at condos currently for sale at Ocean Edge. These condos typically have a great rental potential which is outlined on our Ocean Edge Investment page.

Now Relax and Enjoy Your Second Home!

Purchasing a second home is a big financial commitment that you want to make sure is worth the money and upkeep before making the leap. The trick is to find a place that allows you to relax and escape the every day without breaking the bank. Now that you’ve done your homework, and took advantage of what Cape Cod vacation homes have to offer, it is time to enjoy the fruit of your labor! Thinking about buying a second home at Ocean Edge? Here are 5 Reasons to Buy an Ocean Edge condo. Contact Michael Leighton and his team at Leighton Realty today. Michael has been the #1 Agent at Ocean Edge since 2004. Check out our testimonials to see what current and past customers have to say about their experience with Leighton Realty.

May 20, 2016/by Leighton Team

Buying

Top Real Estate Myths Debunked

If you’re a first time home buyer, you may not have a lot of experience with real estate. Unfortunately there are so many real estate myths out there that may frighten people away from buying a home or cause buyers to make choices that are not in their best interest. Here are some of the most common real estate myths and the truth behind them.

You Need 20% Down Payment

While it may have been true at one time, and it’s a good idea to try to get 20% for your down payment, it is no longer required for home buyers. You do not need 20% of the total cost of the home you are purchasing to qualify for a mortgage to purchase your home. Real estate myths like this one cause many to shy away from purchasing a home because 20% is unattainable due to student loans and most people are just now bouncing back from the recession. Fortunately for those that can not come up with 20%, there are mortgage programs that require a fraction of that amount. For example, FHA loans only require a buyer to put down 3.5% of the purchase price. There are also many conventional mortgages that only require 5% down payment. Our blog, Hidden Costs Of Buying A Home discusses the upfront costs such as the down payment that are required when purchasing a home. Be prepared and check it out!

The Internet Replaces A Real Estate Agent

With real estate search engines, Google and banks all online at your fingertips, why do you need an agent? The phrase “you can’t believe everything you read on the internet” is the first thing that comes to mind. There is plenty of information on the internet that is incorrect, and when dealing with what could be the biggest purchase of your life, you want to make sure you know what you’re doing and getting the correct information. While it may be tempting to cut a real estate agent’s commission from your expenses, it is not in your best interest.

Let’s set the record straight, a real estate agent’s commission is not being paid by you, it is coming out of the purchase price of the home. Therefore, it is the seller that is giving up a portion of their profit to pay for your real estate agent. Hiring a real estate agent to represent you is getting free expert advice. When in life do you get that opportunity? A real estate agent has experience in negotiating to get the best price, let you know when a home is a good deal and when you should walk away.

Real Estate Agents Are All The Same

Many people believe that a real estate agent is like any other real estate agent, and just choose one because there is no difference. This couldn’t be further from the truth. Your real estate agent is your expert in real estate that will guide you through this huge decision and often stressful process. So what do you do? This is where having the internet at your fingertips comes in handy. Research real estate agents that are in the area that you are looking to buy. It is easy to check out their history & client testimonials online (if you’re looking for an agent to help you with the purchase of an Ocean Edge condo in Brewster, take a look at Michael Leighton’s testimonials). Another great idea is to ask family and friends that have recently performed real estate transactions to see who they used and whether they would recommend them. Having a qualified and professional real estate agent makes all the difference in the world when buying real estate. Check out our blog 5 Reasons to be Thankful for a Great Real Estate Agent.

Open Houses Are A Waste Of Time

With the internet, social media and real estate magazines everywhere, this is one of the real estate myths that could seem to be true. Real estate search engines offer plenty of pictures, virtual tours and YouTube videos so it seems as though making the time to stop at open houses would be a waste of time. However, if there is a house that could appeal to you, take the chance and visit the open house. Some homes do not photograph well, when they are really a good solid home. At the same time, others photograph really well and have all sorts of problems that the pictures try to disguise. Open houses usually take place over the weekend, so if there is a home you are interested in, see when their open house is scheduled and take a look!

Spring Is The Only Time To Buy A House

Since the beginning of time, it was believed that the spring time was the only time to sell a home. This was because it was mostly young families buying houses. Families with young children would buy houses in the spring so they could close on the house and relocate before their young children started school in the fall. However, times have changed in the last 10 years or so. There are different demographics buying homes now, and with internet search engines at our fingertips, it has dramatically changed the real estate market.

Millennials are buying year round because they are constantly on their phones looking for the best deal throughout the year. Since people are having children later in life, these young adults do not have a time frame that they need to stick to in order to buy their home. Empty nesters are adults who are looking to downsize from their large family houses once their children have left home. They are also a new demographic that are looking for homes without the spring time deadline because their kids are all grown up. More homeowners are aware of these new populations buying homes, so they are putting their homes on the market at different times of year. This is good news for buyers and sellers. You no longer have to wait for the spring to see the best home inventory. Ever consider purchasing a condominium? Check out our blog 5 Reasons to Buy a Condo At Ocean Edge

Real Estate Myths Debunked!

Whether it be from friends, television, the movies or misinformation, we are all exposed to real estate myths. It’s important that as real estate buyers, you do your homework to sort out what is true and what is a real estate myth. The best way to navigate purchasing a home is by enlisting the help of a reputable and knowledgeable real estate agent. Michael Leighton has been the #1 Sales Agent for Ocean Edge since 2004 and the #1 Brewster Agent since 2007.

May 11, 2016/by Leighton Team