Archives for January 2017

Declutter Your Way to a More Organized, Intentional Home By Joe Szabo, Scottsdale Real Estate Team

January 31, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

Although I have always been organized, there were two significant moments in my life that taught me how to manage clutter.

The first was when I returned from a backpacking trip around the world. Having visited homes in many developing nations, I no longer wanted to have such excess in my own home. My possessions were organized, but I had too many of them for my taste.

After I unpacked from my journey, I began a thorough review of my stuff. I started upstairs, removing unnecessary items floor by floor. By the time I reached the basement, I had enough stuff to set up a second apartment.

My second decluttering lesson was right after my divorce. Just months after the split, I found myself facing bankruptcy. I began my climb out of sudden and severe financial debt while simultaneously making a name for myself in the organizing industry. I hired a top-tier PR agent, but I knew I had to come up with some big bucks to cover his fee and all the expenses that go along with creating a brand. I decided to sell my home and everything I owned to make it happen.

As I sorted my belongings for a second time, I created a ranking system to help me decide what to keep and what to toss. It worked beautifully for me, and I think it can work for you, too.

The Clutter Scale

5 — Important items whose place in your home is non-negotiable. For me, this included my green-stained Depression glass, photos, business files, office equipment, and my car.

4 — Items that are difficult to replace and items you use every day. This pile included most of my clothes, CDs, some furniture, a favorite sheet set, towels, and jewelry.

3 — Items you use occasionally but haven’t used within the last six months.

2 — Items you rarely use but feel hesitant to toss.

1 — Items you never use, like seasonal items, specialized tools, or kitchen gadgets. I got rid of stationery, extra wrapping paper, old boxes, and my printer.

You know what I found as I used the clutter scale? There were rarely items that rated a 2 or 3. And once I established some criteria, I was able to sort and purge the 2s and 3s like never before. As you sort your less important items, ask yourself the following questions:

Do I love it?
What’s the special story behind it?
Do I have the space for it?
Can I replace it?
Can I easily borrow it or rent it if I need it again?
Does it support my goals and values?
Does it compare to the items I ranked as a 5?

The clutter scale is a great way to get back in touch with your priorities. My priority at the time was starting my business, so I kept the bigger goal in sight — and let go of anything that didn’t support that goal.

What I didn’t know then was that I was already practicing what I was going to preach in my business. I learned to organize my life and stuff based on my values. I chose to collect experiences, not things.

As you declutter and rank your possessions, don’t forget to take a few minutes to think about your goals and values. You’ll find your home to be much more intentional and peaceful if you do!

Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, [email protected] or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.

Why You Need a Buyer’s Agent When Purchasing New Construction By Joe Szabo, Scottsdale Real Estate Team

January 27, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

Buying new construction seems simple, right? Just pick out the floor plan you want, choose the perfect lot, and watch it go up. No sellers to deal with, no unexpected repairs that come up during inspection, no drawn-out negotiations. Right?

Not so fast. In any real estate transaction, it’s important to have a professional on your side, even if the process seems straightforward.

“Having your own agent provides a sense of security,” says Seattle-area homeowner Kristy Weaver, who has bought two new construction homes from two different builders. “It gives you some peace of mind, knowing that someone is looking out for your best interest.”

Peace of mind is just one benefit of having an experienced agent along for the ride. Read on for five more reasons you’ll want a local real estate agent by your side when buying a new construction home.

To help you find a reputable builder

“Your agent can rely on their own experience and that of their colleagues to help you find a builder you can trust,” says Portland, OR-based real estate agent Kim Ainge Payne of the Realty Trust Group. “What’s the quality of the workmanship? What kind of warranty do they offer? What’s their track record of resolving issues? Getting a clear understanding in the beginning can alleviate serious headaches down the road.”

To go to bat for you

The timeline for purchasing new construction is typically quite a bit longer than buying an existing home. From the first time you visit the sales center, to choosing your layout, construction, inspections, and finally closing, there are ample opportunities for things to go sideways — think construction delays, permit issues, and financing concerns. An experienced buyer’s agent can help you navigate all of these sticky situations.

To help you review your contract

Even if you’ve purchased a home before, the contract for new construction is a whole different animal, and an experienced agent can help you make sure you understand everything, from floor plans to earnest money requirements, deadlines for requesting changes, and timelines for completion.

“It’s crucial to have a third party who represents your interests in the transaction,” says Dmitry Yusim, a Seattle-area agent who has represented new construction buyers. “A good agent can add the proper addendums to protect you if something falls through.”

To assist with negotiations

Buyers’ agents know the areas where you’ll find the most wiggle room when it comes to negotiations.

“Builders are trying to keep their sales price up so that the next buyers through the door see the higher closing price,” explains agent Britt Wibmer of Windermere Real Estate in Seattle. “They’d much rather throw in closing costs or additional upgrade credits.”

To point you toward smart upgrade choices

Builders will offer you endless options for finishes and upgrades, and it’s easy to get overwhelmed. A seasoned real estate agent can recommend the upgrades that will get you the most bang for your buck in resale value, suggest finishes that might be cheaper to do on your own, and help you avoid over-improving, which can jeopardize your appraisal before closing.

Even though a friendly sales representative will greet you with a smile the moment you walk through the door of the sales center, don’t forget that they work for the builder. Bring your own agent with you starting with your first visit — in fact, many builders require your agent to register with them from the very beginning in order for them to be involved in the process and receive their commission.

With a professional you trust by your side, you’ll rest easy knowing someone is there to protect your money, your time, and your new home.

Home Shopping During Winter: What You Need to Know By Joe Szabo, Scottsdale Real Estate Team

January 25, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

A generation ago, few would consider trekking out in a foot of old dirty snow to shop for a home on the weekend. But with our always connected, information-flowing society, today’s buyers shop and make deals all year long.

If you’re a buyer looking in a part of the country where you may not see a home’s front lawn until May, keep these points in mind as you shop.

Seeing a home at its worst is a plus

Let’s face it, no home shows at its best in the middle of the winter. It’s cold, dark and often wet. And that’s great news for the buyer.

Why? Because you can discover its flaws, such as a lack of privacy, abundant street noise, leaks or drafty windows. You’ll see the home in its worst “light” — and in some cases, you’ll realize it’s just too dark or exposed.

Come spring, the flowers, grass, landscaping and foliage will only enhance the home.

You can ask to see summer or fall photos

Smart listing agents get exterior photos from their sellers to show off the pool, lawn, flowers, and gardens in bloom. Even though they’re listing in January, they should promote the home’s assets from other times of the year.

If the listing doesn’t include photos, ask to see some. It means fewer surprises when the snow melts, the ground thaws, and it’s now your home and your responsibility.

What about features you’re unable to test?

If the home has a pool that can’t be inspected because the seller closed it for the winter, you need to request that they leave money in escrow or extend the closing time frame. When warm weather returns, you can inspect the pool and its systems to be certain it’s in good working condition, and free of leaks or damage.

Unless a seller provides a disclosure about some part of the pool not working, they’re responsible for remedying any issues. If all works out, the attorney or escrow company will release the funds.

Documentation can help alleviate uncertainties

Frozen ground prohibits digging for contaminates of previous underground oil storage tanks. And homeowners typically winterize sprinkler systems, accessory apartments or cottages. In the event you can’t inspect every feature or get escrow funds negotiated, ask for documentation.

The plumbers, pool company and outside vendors should have records, so you can request documentation showing that all was shut down or closed out properly. Even better, ask to meet with the tradespeople who did the work.

It doesn’t hurt to ask

Although homes sell all year-round, it takes a determined customer to trek through the snow and ice to initiate a real estate transaction. For the right house, a winter purchase could spell opportunity. Double up on due diligence, and don’t be afraid to ask for a longer closing or to arrange to have the home inspected come spring.

Everything is negotiable, so smart buyers should protect themselves. Once a deal closes, there is rarely sufficient recourse.

How to Handle Long-Distance House Hunting Like a Champ By Joe Szabo, Scottsdale Real Estate Team

January 21, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

Searching for a house locally is not without its difficulties. Add hundreds or even thousands of miles to the equation, and it becomes infinitely more complicated.

Though long-distance house hunting has its unique challenges, it’s not impossible. In fact, with the right agent and the convenience of modern technology, it’s never been easier to buy a house remotely.

Here are a few critical factors to keep in mind when you find yourself in a home search from afar.

Do your homework

When it comes to long-distance home shopping, “the Internet is your friend,” remarks Meghann Shike of Synergy Realty in Nashville. “You know the neighborhoods you live around, but you know nothing about your new one. You don’t know where the mall is, the [grocery store], or the schools.”

Though nothing can substitute checking out the neighborhood in person, Shike recommends looking up commute times to work, crime rates in the area, and, most importantly, how the schools rank. Even if you don’t have children or don’t plan to have children, it’s still good to know the quality of the schools for resale purposes.

One of the biggest pieces of the long-distance house-hunting puzzle, however, is to make sure you’re researching who the best local real estate agents are. It’s always crucial to hire an agent you trust, but with a long-distance search the agent can make or break the experience.

“You’re going to want someone local on the ground — someone who is very familiar with the city, neighborhood, and prices,” Shike says. “You need to get a feel for how that person operates. Are they available to talk to you? You’re going to have more questions than you realize, and your agent is going to need to be there to answer them.”

Have a travel budget

When Kyle and Samantha Steele found out they were going to be moving from Oklahoma City to Columbus, OH for Kyle’s new job, the couple looked at listings online, got in touch with real estate agents, and picked an upcoming weekend to house hunt in person.

The Steeles’ agent showed them multiple houses, but nothing was quite right. Then they found out that many of the older neighborhoods in the area didn’t have great access to high-speed Internet. That’s when they decided to build.

Their agent was instrumental in guiding them on their short house-hunting weekend, and in finding a builder. “[Our agent] basically helped us with everything, every step of the way,” Kyle states. “When we couldn’t find anything, she helped us find model homes in the area we’re building in, and showed us three different model homes. She answered questions, and helped us find the building company. She even helped us find a hotel for the weekend.”

Inevitably, unexpected appointments came up during the building process that required one of the Steeles to be present. “We had to make an appointment to meet with the design studio to pick out the floors and the carpet,” Samantha remarks. “So far, I’ve been to Ohio twice.”

The couple advises long-distance house hunters to prepare and plan ahead, especially for last-minute travel. “Be flexible,” Kyle says. “Make sure you have a few thousand dollars in reserve that you can spend on plane tickets and a hotel — because you will have to go back and forth.”

From the agent perspective, Shike recommends planning a house-hunting trip that’s at least four to five days long, so you’re not cramming in tons of showings that you won’t remember at the end of the day.

Know what you want

When you’re in the market for a home, you should always have a running list of features you want, but it’s especially crucial when you’re buying from a distance.

“I like to tell my clients to do a ‘top five.’” Shike says. “What’s your non-negotiable? Is it being able to step out the front door to walk your dogs? Do you want to walk your kids to school?”

Knowing exactly what you want out of a house and location allows your agent to help you narrow down neighborhoods and homes more easily, and assist you in making an offer quickly, which is especially important in a fast-moving market.

“Buyers need to get over the fear of writing an offer when they haven’t seen the house in person,” remarks Shike. “I can video chat our way through the house, but I can’t get you on a plane [to get here] in the same time the local people can who are shopping.”

Overcome remote home-buyer jitters

For those buyers who are nervous about making an offer sight unseen, Shike says there is the possibility of adding a clause in the contract that the sale is contingent on the buyer seeing it.

Of course, there is also always the option of renting first before you take the plunge. “You could rent for the short term or get a six-month lease, which is enough time to get settled in your job or routine,” recommends Shike. “That can be nice for buyers who are a little more anxious about the process — to relieve that anxiety.”

Overall, buying a house from a distance shouldn’t necessarily be looked at as a negative experience. In fact, Shike believes it can give many shoppers new opportunities, and buyers are often more excited when purchasing long distance.

“It can be a nice change of pace for people,” Shike adds. “Another benefit to moving long distance is a fresh start: a new neighborhood, new culture, new people, and new experiences everywhere.”

How to Measure Your Home’s Square Footage By Joe Szabo, Scottsdale Real Estate Team

January 18, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

Like most aspects of owning or purchasing a house, measuring the square footage of a home is complicated. There’s no established standard for measuring a residential property, and everyone seems to measure square footage differently. But if you get it wrong, it can affect your home’s value.

There’s no need to be nervous about calculating your home’s square footage, however. Let’s look at how easy it actually is to measure a home’s square footage accurately.

Gross living area

For most people, the gross floor area or gross living area (GLA) of a home is what they’re thinking when they hear “square footage.”

Here’s how to calculate your GLA:

Draw a floor plan of the interior of the home, drawing each floor separately — a simple sketch will do.
Break the home into measurable rectangles (such as bedrooms and hallways).
Don’t include unfinished areas, including patios, porches, and exterior staircases.
Calculate the area of each rectangle by multiplying its length by its width.
The sum of all these rectangles is the square footage of the home.

What to leave in (and take out of) the square footage

But, of course, it’s not that simple.

Many standards do not count basements (even if they’re finished) in overall square footage. Either way, make sure to measure the basement’s square footage for your records — you can still include it in any future property listings.

Conversely, finished attic space that’s fit for habitation and boasts at least seven feet of clearance should be included in your GLA. The same is true for any additional stories in the house.

For example, suppose you’re describing a two-story home with a 1,500-square-foot first floor, 1,000-square-foot second floor, and 800-square-foot finished attic. You could list it as 3,300 square feet with 1,000 square feet of unfinished basement and a 600-foot garage. But to describe it as a 4,900-square-foot house would mislead potential buyers about the size, and unfairly boost the property’s value.

Discrepancies in measurement

Because square footage is so vital in appraising a home, it’s important to pay close attention to what is being measured.

Some sellers may include an unfinished basement in their square footage, giving you an inaccurate picture of the livable portion of the home.

And architects and appraisers often calculate square footage by using exterior walls, which may conflict with a property’s GLA figure.

Regardless of how you measure your square footage, be transparent when selling, and diligent when buying.

If you claim that your home is 2,000 square feet based on your builder’s floor plans, and a buyer’s appraiser brings back a figure of 1,600, you could lose the sale or need to lower your price.

Similarly, as a buyer, make sure to do your research and get an independent square footage to ensure you’re getting what you pay for.

3 Fresh Home Design Looks for the New Year By Joe Szabo, Scottsdale Real Estate Team

January 13, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

2016 was a great year for interior design. So many trends were influenced by new innovations and technology; beautiful colors took new form; unique silhouettes filled every room of the home; and textures and fabrics breathed life into otherwise traditional furnishings.

But it’s a new year, and time for new looks. Here’s a peek at three current trends that will have the interior design world buzzing in 2017.

Va-va velvet

For years, the design industry has been buzzing about texture, and how plush or sinuous fabrics flip a design on its head for a totally unique effect. In 2017, the texture trend continues with the rise of velvet.

Velvet is a classic fabric that periodically enjoys a new surge of popularity. This year, we see velvet used on every furniture piece imaginable, from ottomans to dining room chairs to the smallest fringed detail.

This trend is all about adding just the right amount of ‘ooh la la’ to any space, without diving too deep into luxury.

Get the look:

Jewel-toned velvet fabrics add a luxe look to any piece of furniture. Cover an ottoman or desk chair with this sophisticated upholstery for an elegant boost.
Create a masculine setting by pairing navy velvet dining chairs with a rich wood table and metallic place settings.
Add glamour to a master suite with velvet drapes. Hues like rich emerald green or soft blush add just the right touch of sophistication, without overwhelming the space.

Darling denim

Everyone loves a great pair of jeans, so it’s no mystery why the design world is falling for denim fabrics, motifs, and patterns for home interiors.

Channeling indigo hues and a perfectly worn-in feel, the denim trend of 2017 offers approachability to furnishings, finishes, and fabrics alike.

Taking cues from the velvet trend, denim-like fabric can be found on ottomans, window coverings, bed linens, and area rugs, offering a simple yet sophisticated take on everyone’s favorite fabric.

Get the look:

Dip your toe into the denim look with a duvet cover or area rug. These larger linens make a huge impact on your space without being too permanent.
Denim hues go well with metallic finishes. Adding this hue to a bathroom space via hand towels or a beautiful rug will make your polished nickel hardware “pop,” or give your favorite brass faucet a modern feel.

Stripe story

Designers use stripes as a “neutral” element to anchor a space with clean lines and bold colors. In 2017, stripes will be used as a statement-maker all on their own.

With a bold brushstroke down the middle of a wingback chair, or as a reimagined wallpaper pattern, the single stripe is the new must-know print. Stripes, whether a simple pinstripe or graphic configuration, can be worked into any space, from uber-modern to tailored and traditional.

Get the look:

Get graphic with a single bold stripe down the back of a wingback chair for added flair without the commitment to a full stripe pattern.
A beautiful pinstripe-patterned wall covering adds impact without crowding a room’s design. Add this easy look to a powder bathroom for an instant style boost.

How to Create a Kid-Approved Bedroom By Joe Szabo, Scottsdale Real Estate Team

January 10, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

For a child, a bedroom is more than just a place to sleep. It’s a room to do schoolwork, listen to music, play games, sprawl on the floor, rough-house, read, build models, daydream, visit with friends, and keep innumerable possessions.

You’ll need to plan carefully to create a space that serves all those functions, yet is comfortable and inviting — and has enough staying power to require only minimal redecorating and repainting every few years.

Consult the experts

The ultimate experts on what kids like best are kids themselves. Involve your children in the design process by letting them help with color selections for their rooms.

Include their interests, and ask for their opinions as you create a decorating scheme, especially when it comes to paint, furniture, and fabrics. What you want is a room that both meets your needs and pleases your child.

But don’t go overboard: Kids’ interests change often, so use color schemes that can be easily modified when their passions go another direction.

A few safe bets for color palettes include:

Black and white with a favorite color all over
Pastels
Neutral backdrop with bright accent colors, like green and blue
Bright colors in small doses

For the little ones

For babies and toddlers, softer, muted colors are key. Little ones need to be surrounded by soothing shades in order to fall asleep quickly and peacefully. Offset a pastel color palette with darker furniture pieces, like a chocolate-stained crib and upholstered glider.

For young children, colors that help them create and explore are best. These can be soft shades for the blossoming bookworm, or deep blue and green for the scientist-in-training.

Patterns also begin to come into play as kids reveal their personalities. Stripes, polka dots, zig-zags, and abstract motifs play well with children’s furniture and are easy to swap out for something a little more sophisticated as they grow into young adults.

For tweens and teens

Pre-teens and teenagers often prefer muted color palettes that feature one or two accent colors. Incorporate a favorite color into the room somewhere. Fortunately, color, especially on the walls, is easy to change.

Some of the most popular color combinations include gray, lavender, and deep purple for a stylish look; navy and white for a preppy personality; or muted or neutral tones like black, white, and gray to let your kids explore their favorite looks without dedicating their space to one single palette.

To personalize a space, consider adding a mural or chalkboard wall. If you or your child is inclined, draw wall art freehand; if you’re not artistic, look for stencils or stick-on wall decor. You can also use letters to embellish a wall with words or sayings that are special to your child.

Don’t overlook durability and safety

The younger the child, the more durable and easy furniture and surfaces should be to clean (think performance fabrics and scrubbable paint finishes).

For any child, a safe environment is critical. Review the literature on all surfaces and products, and get up-to-date on product recalls before you make major purchases.

Creating a kid-approved space is a fun journey, especially as your child grows and develops their unique personality.

Be flexible and willing to try new styles and designs as your little ones grow into their space and claim it as their own.

Bathroom Mirrors That Make a Statement By Joe Szabo, Scottsdale Real Estate Team

January 6, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

When we wake up and rub our eyes in the morning, the first thing we do is head for the mirror to start our day.

The last thing we do before bed is wash away the day in front of the mirror.

Like lighting, mirrors are one of the most important elements in a bathroom scene. Because they are so integral to the bathroom’s ambiance and play an important role in our everyday life, why settle for something standard?

Here are a few ways to go big — perhaps literally — with your bathroom mirror.

Fun with frames

One way to add a touch of class to a bathroom is with a framed mirror. Depending on the style of the space, a framed mirror can make a dramatic statement or simply pull the room together.

Carved wood frames are uncommonly found in bathrooms, and lend an antique style to an otherwise sterile space. As long as the room has proper ventilation, you don’t need to worry about moisture damaging the wood.

But the frame doesn’t have to be wood — consider metals, too. Polished brass offers a bright, yet warm, finish to a bathroom for an on-trend modern look. Antique brass is timeless, and could play well to one of 2017’s predicted trends: mixed metals in the bathroom.

Shape shifting

Instead of the standard rectangular shape, opt for a circle or teardrop silhouette to add softness and sophistication to your bathroom.

A cheerful and shiny sunburst adds fun and function to a small powder room, while two large teardrops placed side by side add the perfect amount of shimmer to a double vanity.

Other shapes like ovals and hexagons add just the right amount of visual interest without crowding coveted wall space.

Speaking of wall space, if you’re adding an oversized mirror to the mix, hang two small pendants or a mid-size chandelier in the middle of the bathroom instead of installing wall sconces. The hanging light fixture will make the bathroom appear larger without overcrowding the wall.

Talk about texture

Because bathrooms are so often sleek and shiny on their own, adding texture can create a warmer environment — perfect for either a guest bathroom or relaxing master suite.

Hang your mirrors with blistered rope for a nautical vibe, or use an antique frame with obvious color variation for a more worn-in look.

Nailhead trim around mirrors also offers a little more texture without sacrificing style. Opt for large nailheads to make a small statement, or several smaller ones for a more uniform style.

Home Buyers: 5 Things to Know As You Wait for Closing Day By Joe Szabo, Scottsdale Real Estate Team

January 2, 2017 Joe Szabo

By Joe Szabo, Scottsdale Real Estate Team

For some home buyers, the closing day for a real estate purchase is as formal and complicated as the transaction itself. For others, it’s just a blip on the radar. Either way, there are some important things to keep in mind as you make your way to homeownership.

Your mortgage rate could expire

Mortgage interest rates can fluctuate daily, and the rate your bank quoted isn’t good forever. Instead, a bank will “lock-in” your interest rate for 45, 60 or any number of days. Once that lock expires, you may have to pay a higher rate.

Any number of issues can come up: open permits, illegal renovations, or other types of roadblocks might require the loan process to stop until resolution.

For example, a buyer in upstate New York learned at the last minute that a previous owner built an addition to the home in the 1970s but never documented it properly. It turns out it was so bad that it wouldn’t pass today’s requirements. The buyer had to hire an architect, re-draw plans, and document the issue before the bank approved the loan. And, consequently, he lost the rate he’d been quoted.

Don’t wait until it’s too late, and don’t assume it’s a smooth journey to the closing table. Rate-lock expiration can throw an expensive wrench into the closing process.

The mortgage process isn’t over yet

Some buyers think once they’ve completed the application and submitted paperwork, their loan is approved and ready to go.

Not so fast. Today, some lenders will verify income, assets or credit all the way up until the very last minute. Don’t make any major changes to your finances until the closing.

That means don’t apply for a new credit card, finance a new car, or take a new job without running it by your mortgage professional.

The smallest (even seemingly insignificant) change to your finances can affect your ability to be approved for a loan.

And the house isn’t yours yet

In some locations, the walk-through is a formal event, and in others, it’s a checked box. Most real estate contracts provide for a walk-through up to 24 hours before the closing. Be sure to take advantage of it.

Why? You don’t want to close on the home if systems aren’t working, the seller hasn’t made the necessary repairs, or the seller hasn’t moved out.

If things aren’t as they should be, you can postpone the closing until they are.

You may need to do some homework

Once the home closes, not only is it physically yours, but also it’s completely your responsibility. In most states, the law is on the side of the buyer, and requires the seller to disclose any issues and confirm they’ve been resolved.

In others, it’s “caveat emptor,” or buyer beware. In this case, it’s up to the purchaser to double- and triple-check that the seller closes all outstanding building permits, releases all liens from the title report, and resolves any issues with the local building department, assessor or health department.

The actual closing could be very low-key

In most places, the end happens in parts, and the two parties don’t need to meet. Buyers sign their loan documents in the privacy of their home or office, and the seller shows up at the title company to sign off on the deed. It’s seamless and straightforward, and happens in the background. Buyers wire their down payment, and sellers receive their funds electronically.

But sometimes, the buyers and sellers and lots of attorneys and title folks sit around the table for hours, passing paperwork and using calculators. The process is archaic and cumbersome. What’s worse: If the transaction wasn’t smooth, the atmosphere around the “closing table” could be pretty tense.

What can you do?

The easiest way to a smooth closing is to be on the lookout for red flags and do lots of research.

Have a solid team on your side, starting with a good local agent. He or she can refer you to necessary mortgage pros, title insurances, escrow offices, attorneys or inspectors.

Processes and customs vary by market, and customs that apply in one community won’t matter across the country, so getting as much information upfront as you can will help avoid unpleasant surprises.