Before the closing can occur, all terms of the purchase contract must be met. As you can imagine, problems can come up which delay the closing.  Here are seven tips to ensure a smooth and problem-free closing on your Marina Bay real estate:

Communicate. Talk with all parties involved in the deal, from your agent to your lender, and discuss what to expect.  Get in touch with each of them to make sure they have everything they need from you for a hassle-free closing.

Do a final walk-through. Before you close, it’s critical to do a final walk-through to check that all repairs agreed upon were actually done. You also want to ensure that everything is in the state that you expect it to be in.

Anticipate errors in the paperwork.  There could be missing documents, typos and mistakes in the paperwork.  Before closing day, review all documents thoroughly to catch and fix mistakes.

Make sure the money is there.  Talk with your real estate agent to be sure that you will have the money you need, in the right form, at closing.

Ask your agent to attend the closing.  You want your trusted agent there to explain to you the purpose of each form you are signing, answer any questions you have and guide you through the process.

Expect the unexpected.  Read all documents before signing them.  Any corrections will have to be made before the closing can continue.

Plan to take the day off.  You do not want to be late to the closing or be worried about having to go back to work. Spend the rest of the day celebrating!

If you’re ready to work with a professional Marina Bay real estate company who will guide you step-by-step through the home-buying process, please contact us.  You can reach us at 617-380-4520 or sales@marinabaylifestyle.com.

Links:

Final walk-through

http://www.closing.com/learning-zone/article/final-walk-through-checklist/ 

Closing

http://www.lendingtree.com/mortgage-loans/advice/closing-a-mortgage-home-loan/ 

Home-buying process

http://www.fanniemae.com/portal/helping-homeowners-communities/home-buying-process.html

The National Association of REALTORS – Founded in 1908, this organization still strives today to uphold the ethical integrity of the real estate industry and profession.

Condos – In 1960, the first condominiums were built, which opened up an entirely new niche for real estate agents to dive into.

The Fair Housing Act – Passed in 1968, this Act outlawed discriminating against buyers based on race, sex, religion or national origin when selling your property.

Tax Reform Act – This Act was passed in1986 to encourage people to become property owners by giving them a tax deduction on mortgage interest.

The World Wide Web – We all started to be connected in1990. Now this revolutionary technology provides buyers and sellers with more information at their fingertips than was ever thought possible. Promoting your Marina Bay home on the Internet is now a crucial part of every marketing plan.

The Man Cave – In 2004, Urban Dictionary uses this phrase and suddenly everyone is classifying space within their houses for men to relax and do “manly things.”

Facebook – While this social media site launched in 2004 was originally intended to connect college students, it quickly expanded across demographics. It is now an effective marketing tool for real estate agents to reach out to their clients and potential buyers and sellers.

If you’re ready to sell your Marina Bay home, we can help.  Please call us today at 617-380-4520 or email sales@marinabaylifestyle.com for more information.

Links:

The National Association of REALTORS®

http://www.realtor.org/rmoquiz2.nsf/centennial?openform 

The Fair Housing Act

http://portal.hud.gov/hudportal/HUD?src=/program_offices/fair_housing_equal_opp/FHLaws/yourrights 

Social media

http://www.bankrate.com/finance/real-estate/use-social-media-to-sell-your-home-1.aspx

Credit Score

One of the first things your lender will review is your credit score.  Credit scores range from a low of 350 to a high of 850.  In this case, the higher, the better.  The lower your credit score, the higher your interest rate and points will be, and the lower the amount of home you’ll be able to afford. If your score is too low, you may not qualify for a mortgage. If your score is low, you may need to take some time to improve your credit score before buying Marina Bay real estate.

Debt-to-Income Ratio

Lenders use a formula called the debt-to-income ratio to determine if your income is high enough and your debts are low enough to qualify for a certain loan amount.

Standard debt-to-income ratios are the housing expense ratio (also called front-end ratio) and the total debt-to-income ratio (also called back-end ratio).  How are these calculated?

Front-end ratio:  Shows how much of your gross monthly pretax income would go toward the mortgage payment.  As a general rule, the monthly mortgage payment, including principal, interest, taxes, and homeowners insurance, should not exceed 28 percent of your gross monthly income.  To calculate the front-end or housing expense ratio, multiply your annual salary by 0.28, and then divide by 12 months.  This is your maximum housing expense ratio. (Annual salary x 0.28/12 = Maximum housing expense ratio) 

Back-end ratio:  This shows how much of your gross income would go toward all of your debt obligations – mortgage, car loans, child support, credit card bills, etc.  Your monthly debt obligation should not exceed 36 percent of your gross income.  To calculate this ratio, multiply your annual salary by 0.36, and then divide by 12 months.  This is your maximum allowable debt-to-income ratio. (Annual salary x 0.36/12 = Maximum allowable debt-to-income ratio)

Down Payment

Last but definitely not least, lenders consider the amount you have for your down payment. The bigger your down payment, the less risk the lender is taking on, so you will probably receive a better interest rate. Ideally, you want to come up with at least 20% of the value of your new home as a down payment, to avoid things like mortgage insurance payments.

The mortgage process can be confusing.  We would be happy to go over this information with you in detail, or if you prefer, we can refer you to a well-respected, knowledgeable mortgage lender. Please call us today at 617-380-4520 or email sales@marinabaylifestyle.com for more information.

Links:

Credit Scores

http://www.ehow.com/about_5272055_credit-rating-scores-explained.html 

Improve your credit score

http://www.fool.com/specials/2000/sp000807.htm 

Debt-to-income ratio

http://www.bankrate.com/calculators/mortgages/ratio-debt-calculator.aspx

Here are eight tips to help you have a successful open house:

Take advantage of new technology.  Advertise the open house on all the popular real estate sites.  With technology what it is these days, most home buyers start their searches online. If you’re working with a real estate agent, he or she will handle this for you.

Enlist your neighbors’ help.  Neighbors have friends who are looking for homes too.  Let them know about your open house and invite them over. They will be looking at your home for their friends, their kids’ friends, etc.

Go paperless.  Have your real estate agent take lots of good quality pictures and upload them to all the real estate sites.  No printing required.  The more information you have online about your home in Marina Bay the better.

Create neutral environments.  Remove the animal heads from the walls. Take down anything controversial or extremely personal from walls and shelves.  Remove area rugs that don’t stay with the home, so buyers can see the beautiful floors.

Be security conscious.  Make sure your agent has everyone sign in.  Remove or lock up any prescriptions and valuables, such as jewelry, cash or credit cards.

Make buyers feel comfortable.  Provide soft music and homemade cookies. This will make potential buyers feel welcome, and baking cookies will make your home smell great!

Use low-tech ideas. Ask your real estate agent to put “Open House” signs around the neighborhood and in your yard.  This will catch all the drive-by and walking traffic.

Remove yourself.  Do not attend the open house.  Buyers will be intimidated to look in closets or ask the questions they want answered, if you are following them from room to room. Take your pets with you, along with the cat box and food bowls.

Need help preparing for that open house to sell your home in Marina Bay?  Call us at 617-380-4520 or email sales@marinabaylifestyle.com for more information.

Links:

Successful open house

http://www.homefinder.com/news/opening-doors/2010/03/19/ten-diy-open-house-tips/

Advertise the open house

http://realestate.about.com/od/servingsellers/ss/holdopenhouse_3.htm 

Take lots of good quality photos

http://voices.yahoo.com/house-photos-tips-taking-pictures-home-626593.html?cat=54

Choosing the right Marina Bay real estate agent can be tricky. To help you make a wise choice, below are five simple questions you should ask agents before making your decision:

How many other homeowners are you currently working with? An agent with many listings in the neighborhood will drive more traffic and attention to your home, the attention it needs to attract potential buyers. However, if the agent has no listings, that might be a bad sign.

Are you going to be readily available? There is nothing more frustrating than working with an agent who seems too busy to show your home, take your phone calls or answer your emails.

How does your real estate agency compare to the others in town? Any brokerage with great statistics will be happy to share them with you.

What’s your plan for marketing my home? A good agent should be able to give you a detailed and well-thought-out plan for marketing your home. It’s also a good idea to make sure your expectations are clear before entering into any agreement.

Selling your home can be stressful. When selecting a Marina Bay real estate agent to represent your interests, it’s important you feel comfortable that he or she will meet your expectations.

If you’re getting ready to sell and have questions about comparables, marketing strategies or the process in general, please call us at 617-380-4520 or email sales@marinabaylifestyle.com for more information.

Links:

Attract potential buyers

http://www.finweb.com/real-estate/3-ways-to-attract-potential-home-buyers.html 

Marketing my home

http://homebuying.about.com/od/sellingahouse/tp/markethome.htm

Sprinkle talc or powdered graphite over gaps in wood flooring. If your squeaks are caused by loosened boards rubbing against each other, graphite can act as a lubricant and take care of the squeak.

Face-nail boards back into place. If your squeak is caused by wood rubbing against loose nails, carefully nail them back down.

Shim it. If your problem is a gap between your flooring and joist, get someone to bounce on the squeak while you’re in the basement. When you can see where the gap is causing the squeak, insert a shim in the gap. The shim can either be made of tapered wood or recycled plastic. Don’t make it any thicker than it needs to be; you could cause another squeak.

Nail up through joists. If your squeaks are caused by sagging floor joists making your floor boards flex, you may be able to screw up through the joists and snug down the floor boards. Make sure your screws are a quarter-inch shorter than the depth of your flooring so they don’t penetrate your floor boards. This technique works whether you have wood floors or carpeting in your Marina Bay home.

Try a product like Squeeek No More. This is a solution for carpeted floors, allowing you to secure subflooring to joists through the carpet, and then break off the screws below the carpet pad.

Next time, install ceramic tile.  It’s quiet and solid.

If you’re looking for more ways to make your Marina Bay home more attractive to buyers, give us a call at 617-380-4520 or email sales@marinabaylifestyle.com

Links

Face-nail

http://www.thisoldhouse.com/toh/article/0,,229967-2,00.html 

Squeeek No More

http://www.youtube.com/watch?v=tT4iqi69ADw 

Ceramic tile

http://tile.networx.com/info/ceramic-tile-benefits/

Make sure the inspector has access to all areas of your Marina Bay home. Here are some of the most important places:

Attic. If your attic is accessed through a closet, take time to clear away clutter so the inspector can get up there quickly and easily. Have a ladder at the ready if needed.

Basement. Clear everything away from the exterior walls of the basement so they can be seen.

Utilities. Clear around the furnace, air conditioner, water heater and circuit breaker boxes.

Foundation. Clear brush away from the foundation.

Keep electricity on. If your Marina Bay home is vacant, be sure to have the electricity turned on when the inspector comes. Otherwise many aspects of the inspection can’t be done, causing delay.

Keep pilot lights lit. Again, if the home is vacant, make sure to have any gas appliances on to avoid delays in the inspection process.

Print and copy documents of any mechanical upgrades and maintenance.

Replace furnace filters.

Replace burned out light bulbs.

Check all receptacles. If any aren’t working, it could be a simple fix for a few dollars.

You don’t want any question marks on your home inspection report. This could be a perceived as a black mark against your Marina Bay home.  Most sellers get nervous about the home inspection, but with these tips in mind, you can pave the way to a smooth, one-time process that is just another step in moving on.

If you’re looking for a real estate agent to sell your home, we’d love to be interviewed for the job. Contact us at today at 617-380-4520 or sales@marinabaylifestyle.com.

Links:

Clutter

http://www.moneypit.com/article/home-organization-tips-clearing-clutter 

Receptacles

http://home.howstuffworks.com/home-improvement/repair/how-to-do-home-electrical-repairs9.htm 

Home inspection report

http://www.homegauge.com/buyerseller/samples.html

Whether you’re still living in the home or have completely moved out, there are many things you can do before the first open house to ensure everything is showing at its best. Below is a list that every real estate agent would love to see when they first evaluate Marina Bay real estate. 

Paint walls neutral colors. If your house has a ‘clinically white’ feeling or is on a psychedelic color spree, you’ll need to paint the rooms a neutral beige, tan or gray. Even if your rooms are already neutral, you might consider a new coat of paint to hide marks and give it a fresh feel.

Remove clutter and stage your home. You hear this over and over when it comes to preparing a house for sale. Sometimes it goes in one ear and right out the other. Leave just a few of your children’s favorite toys and make sure even the closet floors are bare. Take this one seriously — rent a storage unit if you need to — it’s usually worth the cost.

Straighten everything. Take the time to align your bookshelves, organize your closet and clean out your pantry. You can clean and dust nooks and crannies as you go.

Wipe down EVERY surface. Sellers often get to the counters and windows, but usually miss the baseboards and window frames. Any amount of dirt reminds buyers of the people who currently live there instead of envisioning themselves in the space. Plus, everything will smell clean, which is very inviting!

While it may be hard to maintain some of these tips if you’re still living in the home, try your best and you won’t be living there long! If you’d like more spring cleaning tips or are getting ready to sell your Marina Bay real estate, please call us at 617-380-4520 or email sales@marinabaylifestyle.com for more information.

Links:

Open house

http://homeguides.sfgate.com/host-open-house-8819.html 

Stage your home

http://www.openhouse.com/article/4-Steps-to-Staging-for-an-Open-House/ 

Buyers

http://homebuying.about.com/od/howtosellahome/a/buyer_peeves.htm

When you see “motivated seller” in real estate listings, it could mean a wide variety of things including:

1. The seller is willing to accept a lower price or give some concessions.

2. The Marina Bay home could be near foreclosure.

3. The sellers want to see an offer before canceling the listing.

4. It’s a marketing strategy. (In other words, it means nothing.)

Here are some tips on how to deal with motivated sellers:

1. Decide if you really want to buy the Marina Bay home. Don’t buy it just because you think you might get it at a greatly reduced price.

2. Have your agent ask the listing agent why the seller is so motivated to sell. If there is no realistic reason, you could be wasting your time.

3. Consider giving a low-ball offer to see how the seller responds.  If the seller does not give a counter offer, you have your answer.  If they give a reasonable counter offer, they’re obviously willing to negotiate.

4. Wait for a price reduction.  Most listing agents will ask the sellers to reduce their price when the property hasn’t gotten any offers or sold in the expected time frame.

5. Ask if other offers have been made. If yes, find out why they were rejected, and try to overcome the seller’s objections.

Owning a home is the American Dream.  Figuring out if it’s the right time for you to buy, and which property is best for you to purchase, is something only you can decide.

When you’re ready to find your American Dream home, we’d love to help. Call us at 617-380-4520 or email sales@marinabaylifestyle.com.

Links:

Low-ball offer

http://homebuying.about.com/od/offersnegotiations/qt/0507lowballoffr.htm 

Counter offer

http://www.reiclub.com/articles/negotiate-counteroffers 

American Dream

http://www.huffingtonpost.com/2011/09/21/home-ownership-american-dream_n_973573.html