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How to Sell your home

5 Home Inspection Mistakes Buyers and Sellers Make

(TNS)— A home inspection is an assessment of a home’s condition. Home inspectors not only identify problems with houses; they can give buyers information that will help them with the upkeep.

“We want to teach them how to maintain the property because it’s the biggest investment they’ll ever make,” says Alden E. Gibson, a past president of the American Society of Home Inspectors.

If you’re getting a home inspection, here are five mistakes to avoid.

Not Researching the Inspector
Too many buyers and sellers hire whoever is recommended to them without doing any research. The inspection is only as good as the inspector doing it, says Troy Bloxom, owner of Home Inspections Plus near Anchorage, Alaska, and past president of the National Association of Home Inspectors.

A few questions to ask:
·      How long have you been inspecting homes?
·      How many inspections have you done?
·      What are your qualifications, certifications and training?
·      What was your job before you were a home inspector? (Ideally, your pro was in contracting or building.)

You want a certified professional who stays current.

“There’s a lot of stuff you have to know, and you want someone who’s keeping up with ongoing education,” says Kurt Mitenbuler, who is certified by the American Society of Home Inspectors (ASHI) and owns an inspection company in Evanston, Ill.

You’re looking for an inspector who can analyze the home’s strengths and weaknesses, then explain them.

Not Attending the Inspection
Being present for the inspection may not be mandatory, but it’s a smart idea. Simply reading the inspection report isn’t enough to give most homeowners the full picture, Gibson says: “If they don’t see it, they don’t understand it.”

Gibson says he turns down dozens of inspections a year “because people can’t be there or don’t want to be there.”

The inspection might take an entire morning or afternoon, so set aside enough time. Some inspectors will sit with you afterward to explain things and answer questions.

“Any home inspector who doesn’t let you follow him around? That’s weird. Ask me any question you want,” Mitenbuler says.

A good inspector can give you an estimate of how much you’ll need to spend on repairs and upgrades, which is very valuable information as you consider your budget.

Not Reading the Inspection Report
Too many buyers and sellers just glance at the inspection report. You need someone who uses “clear, concise” language in person and in written reports, Mitenbuler says. He recommends scanning a few reports by checking the inspector’s website or asking for a sample report.

A knowledgeable pro will state simply what’s wrong with the house and what it will take to fix, Mitenbuler says.

Not Getting a Presale Inspection
Many sellers decide to leave the presale inspection to the buyers, Bloxom says. That’s a mistake.

When the buyers get an inspection (and if they’re smart, they will), the sellers may have little time to complete repairs and keep the sale on track, Bloxom says.

But if the seller has the home inspected before putting it on the market, he has more time to do repairs and to shop around and control his costs for the work, Bloxom says.

Both buyers and sellers often wait too long to engage an inspector, Gibson says. You should find an inspector long before you have (or make) an offer on a home. “Any good inspector will be booked out,” he says.

Not Prepping the Home
Inspectors get annoyed when homeowners don’t prepare their houses for inspection.

“Don’t force the home inspector to empty the closet to get into the attic,” Mitenbuler says. If you have a crawl-space hatch, move anything sitting on top of it.

Got a lock on a utility closet, basement or shed? The inspector needs access, so open it or provide keys.

For a seller, the best tack is to be at home to meet the inspector, introduce yourself, provide your mobile number, and then you can take off, Mitenbuler says.

To reduce the need for repeat inspections, hire professionals to do repairs, Bloxom says. Too many sellers will try DIY or get them done on the cheap, but poor workmanship will show up during the follow-up inspection, Bloxom says, and could result in more repairs—and another inspection.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

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Keys to Buying a Second Home

(TNS)—If you’ve been thinking about buying a second home, now is a good time to take the leap. Mortgage rates are still historically low.

But there are some vital things to do before you start shopping. Follow these steps to make buying a second home a smooth process:

The best way to start the search for a second home is to find a real estate agent who is familiar with your desired location. This person could provide you information about neighborhoods, market prices and the pros and cons of particular properties.

With an eye toward the long-term value of a property, the agent could fill you in on price histories and how comparable sales have fared, and resale prospects. Factors that tend to help properties hold or increase in value are proximity to a major metropolitan area, ease of access and the availability of year-round amenities.

Factor in additional costs. Today’s second-homebuyers are more interested in enjoying their properties rather than getting a quick return on their investment.

Still, you should consider that you will be away from the property a lot of the time, which usually entails additional costs, such as having a management company check the place in your absence for water leaks, frozen pipes and other problems.

Getting insurance for a second home may be more challenging than it is for a primary residence. If you are considering a second home on the beach, for example, you’ll need flood insurance in addition to regular home insurance. It has become more difficult to get flood insurance in coastal communities, and the cost has increased greatly in some markets.

Be sure you can afford two mortgages. You have to qualify for a second-home mortgage, which is on top of any mortgage debt on your primary home.

Typically, you will need to make a down payment of at least 10 percent, meet credit standards and debt-to-income requirements, and provide documents for income and asset verification.

If you have a good relationship with the mortgage lender on your primary residence, that might be a good place to start your quest for a second-home mortgage.

Take into account the tax implications of your purchase. If you use your home as a true second home, you could get a deduction for mortgage interest and property taxes, just as you do with your first-home mortgage.

Be aware that under the new federal tax law, the cap to the mortgage interest deduction will be lowered from $1 million to $750,000. So if you already have a $750,000 mortgage and get a loan for a vacation home, you won’t be able to deduct the interest on the second mortgage.

If you rent out your second home, you will have to consider additional tax ramifications, particularly if the rental period extends beyond 14 days a year.

©2018 Bankrate.com
Distributed by Tribune Content Agency, LLC

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Ask the Expert: Can a Home Inspection Help the Mortgage Process Along?

Steward_Dan_132pxToday’s Ask the Expert column features Dan Steward, president of Pillar To Post Home Inspectors.

Q: Should sellers get a home inspection to help the mortgage process along?

A: If you’re a seller, it behooves you to get your own home inspection prior to putting your house on the market. But why spend money on one when the buyer will surely get their own?

Buyers that see a recent home inspection along with the listing sheet already realize that the asking price of the home is likely justified. They can rest assured that there are no scary surprises waiting for them upon closing. And you can hasten an offer by having that report right in front of serious buyers when they’re considering putting in an offer.

This also establishes a sense of trust between the buyer and the seller from the start. It shows the buyer that you care enough to get details and minor problems with the house detected and fixed before they even put in an offer.

If your home inspector shows you minor items that may come up in the buyer’s home inspection, you can have the issues looked at and repaired before the buyer even has their report done. You will have time for bids on a job instead of rushing to pay a higher price for the work, or, worse, having to deduct from the agreed upon price. In fact, you can show the report and a receipt proving the problem was already addressed by a licensed professional.

Having a good report readily available also shows the buyer that you’ve most likely been maintaining the property all along, which is another terrific plus when selling.

Mitigating risk is key when selling a home. Since laws regarding disclosures vary from state to state, for the most part, you as the seller are responsible even after a closing if something has been hidden or unreported to the buyer. Taking the time to have your own inspection will allow you to have repairs made for a cost that suits your budget, instead of having to deal with credits the buyer may ask for as the result of their home inspection. By getting a pre-inspection, you have proof that home maintenance issues, to the best of your knowledge, didn’t exist at the time of sale.

The only instance when it may not pay for a seller to proceed with a pre-inspection is when they’re selling a fixer-upper. In this case, the buyer already knows what to expect, and they should have a thorough home inspection completed before signing on the dotted line.

For more information, please visit www.pillartopost.com.

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About Chautauqua

Chautauqua County occupies the extreme southwest corner of New York State. The county takes its name from the largest lake in the area, which is twenty miles long and 1,308 feet above sea level. At one end is located Mayville, the county seat and at the other end is the city of Jamestown. 

Outstanding recreational opportunities exist in the county, from hiking and biking on the county's public trail systems, to fishing, boating and canoeing on the lakes, to skiing and snowmobiling. The famous Chautauqua Institution, founded in 1874 and located on Chautauqua Lake, hosts educational and cultural programs each summer. 
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