Lake Oconee Houses

Marketing Your Home

A professional real estate agent can be your best resource when buying and selling a home.

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Buying A Home

For many people, buying a home, especially a first home, can be a stressful process. Not only are you looking to meet your personal housing needs, but there a myriad of things to consider along the way--price, area, contract negotiations, legal documents, financial arrangements, etc. Having an experienced professional at your side can help to ease some of the pressure and make buying a home a positive experience.

♠ Get Pre-Qualified

There's nothing worse than finding the home of your dreams only to watch it slip away due to problems or delays in obtaining financing. Therefore, a critical part of your plan to buy a home must include pre-qualification. Most lenders can pre-qualify you in short order based on your income, debts, assets, and some credit history.

At the very least, this will provide you with a realistic idea of how much house you can afford, a vital consideration when looking for your dream home at Lake Oconee or Lake Sinclair.

Of course, this is only half the qualification process. Once pre-qualified, you must fill out all the necessary paperwork and verify the information you provided to the potential lender to receive final approval for your mortgage. Don't wait--make this your top priority. Once the approval is received, your credibility and negotiating position with the seller is enhanced tremendously.

Be sure to use credible lenders, such as banks, credit unions, savings & loans, mortgage brokers, etc.

During the approval process and period of the contract, don't make any major purchases. Such actions can affect your borrowing power. An example to emphasize this is a $100 purchase can cost you as much as $30,000 in borrowing power.

♠ Develop A Plan

For many of us, buying a home is the largest personal investment we make in a lifetime. Like any major decision, it is important that you develop a plan and select a real estate agent who can help you accomplish your goal. Besides showing you potential properties, an agent can assist in anticipating the steps required to initiate and complete the entire transaction, including developing a back-up plan, just in case something changes or falls through.

Remember--the first step is pre-approval.

♠ The Cardinal Rule: Location, Location, Location

One of the most important factors in your decision to buy a home is location. You can compromise on a home's features, expand or change its layout, but you can't change its physical location. You should have a clear idea of the area where you want to live before you start seriously looking at homes, taking into consideration such things as proximity to work, schools, churches, and shopping, types of available transportaion, area amenities, crime rates, etc. Don't waste time looking in areas that you know will be undesirable.

♠ Negotiating

Prior to starting your search, do your homework. Gather as much information as you can about current market conditions. Is it a buyer's market, a seller's market, or somewhere in between? The market for buyers is usually better in a down market.

When you find a home you like, get as much information about the seller as you can. Why is he/she selling? It is downsizing, an illness, financial reasons, preparation for retirement, job changes, a divorce? How motivated is the seller? This is where a knowledgeble real estate agent can be invaluable in obtaining this information for you.

Don't forget to make the entire transaction subject to a bonified inspection. Put the stipulations in the contract and make it mandatory. This is one way to (hopefully) know what you are buying. Use an ASHI-qualified home inspector. You have the right to inspect the home--use it. If you don't like what the inspector finds, don't buy the home. Carefully consider the timing of the inspection and approval, disapproval, or required renegotiations. Make sure any response is in writing.

Selling Your Home

Our goal is to not merely list your house, but help you obtain the best possible price for your property in the shortest period of time. The following are a number of practical ideas to successfully prepare your home for sale with a minimum of time and expense.

♠ The Importance of Curb Appeal

On average, a potential buyer will form a lasting opinion of your home within 15 minutes of arrival. It is therefore crucial to establish a positive first impression. A buyer is more likely to view the rest of your home favorably if the outside is neat and in good repair.

Make sure the street in front of your house is free of litter and debris. Sweep and, if necessary, pressure wash driveways, walkways, and sidewalks leading to your house. Remove any weeds that may be growing between cracks. If the surface of the driveway is too worn to clean, consider resealing it with a high-quality sealing product. If a car is parked in the driveway, make sure it is newly-waxed and well-maintained. If you think your car will be a detriment to the look of your property, park it down the street.

A fresh coat of paint on your house can be one of the best investments you can make to increase the value of your property. If you don't want to spend the money to paint the entire house, consider just the shutters or the front of the house. If you have vinyl or aluminum siding, have a cleaning service wash it. And don't neglect the trim, eaves, and fascia boards. Peeling or rotting wood here can send up a warning flag to a prospective buyer. And don't neglect fencing and/or gates. All should be in good repair and, if necessary, be given a fresh coat of paint or stain.

Clean all windows, doors, and screens. Repair or replace any cracked or broken glass, dried caulking, and torn or missing screens.

Replace any broken or missing shingles or tiles and repair flashing where needed.

Paint or replace old mailboxes or posts. Replace worn or rusted outdoor lighting and clean or replace kickplates and hardware. Clean or repaint the front door and consider placing flower boxes or planters outside to make a buyer feel welcome.

♠ Step Inside

Start with a full housecleaning from top to bottom. Don’t let dirt and clutter obscure your home’s good points. Discard unused and unnecessary items in storage areas and closets. Arrange remaining clothes and items neatly. Eliminating clutter will give your home a more spacious look.

Make sure walls are clean and free of smudges, fingerprints and dents. If a good washing doesn't do the trick, consider applying a fresh coat of paint. Inspect woodwork and wallpaper for problem areas and replace or repair if necessary.

Arrange or remove furniture to make each room appear more spacious and attractive. If a piece of furniture is badly worn, temporarily store in the attic or at a friend's or neighbor’s house. Clean floors, shampoo rugs and carpets, and wax wood floors.

Repair loose doorknobs, sticking doors and windows, and warped drawers. Tighten loose stair banisters and ensure that steps are free of obstacles.

Clean stoves, ovens, refridgerators, dishwashers, microwaves, washers, dryers and other major appliances and ensure all are in good working order. Eliminate any food or sour odors. Make sure all switches and electrical sockets are operational. Replace discolored or cracked outlet plates.

Bathrooms should be sparkling clean. Repair caulking around tubs and showers, fix leaky faucets, and clean stains in sinks, toilets, and tubs. If your sinks and tubs are dull even after cleaning them, try polishing them with Meguaiar’s cleaner wax in the squirt bottle. This is the same product sold in upscale kitchen and bath shops. Waxing them in this way also helps to keep them clean longer. In fact, do this in your new home every six months.

Make beds and ensure linens and draperies are clean and in good repair. Dust or clean blinds and shutters. Replace or remove any damaged window treatments.

Clean light fixtures and ceiling fans and replace burned out lightbulbs.

Clean and organize the basement, attic, garage, carport, laundry and utility rooms, and storage sheds.

♠ Don't Overimprove

While cleaning and repairing obvious problem areas is important, use caution in planning any major improvements that won't show an adequate return on your investment. Where needed, a fresh coat of paint or new carpeting can boost your sales potential, but keep any changes you make neutral. Most people shopping for a home would rather plan their own major changes and you are usually wiser to sell them the potential at a price they can afford.

♠ Showing Your Home

Turn off all televisions and radios so the salesperson and buyer can talk free of distraction. Open drapes and blinds to show any views you may have. Turn on lights to give the rooms a larger, more cheerful effect.

Be sure the kitchen sink is free of dishes and rooms are clean and uncluttered.

Smell has more impact than you might expect. It can work for or against you. The smell of cleanliness is important to the selling environment of your home. Eliminate negative odors, such as pets, tobacco, cooking, and oil or gas. Lemon oil or lemon wax can create a lasting scent of freshness. Fresh flowers on the table add both beauty and fragrance.

Realtors know the buyer’s requirements and can better emphasize the features of your home when you're not present. Your realtor will discuss price, terms, possession, and other factors with any prospective buyers, and is better qualified to bring negotiations to a favorable conclusion.

♠ Know Your Limitations

Do you need a quick closing? If so, getting the highest price may not be your top priority. Decide up front how low you are willing to go in terms of selling price, and discuss these limitations with your agent so you can develop the best plan for achieving your goals. Although an agent must present all offers, knowing your price limits up front can help eliminate wasted time in unrealistic or offensive offers.

♠ Establish a Realistic Price

Setting the right price can mean the difference between a quick sale and no sale at all. If you set your price too high, chances are your property will languish on the market for a long time. Naturally, you stand a better chance of selling a well-kept home in a desireable area and an active market, but there are many factors that go into setting the right price to move your home. Your real estate agent can help you by comparing your property with comparable homes in the same area using a Consumer Market Analysis (CMA). The CMA will reflect recent home sales in your price range within the last six months, market inventory, features of the homes in the target area, and price comparisons. Be realistic, but bear in mind that the current market will ultimately determine the price you can get for your home.

♠ Consider All Offers

Carefully consider all offers received, weighing not just the price offered, but the terms as well. Such items as closing costs, necessary repairs, a quick closing, and cash offers all play a vital role in the complete offer package.

♠ Pick the Right Agent

Just like people, all agents are different, and you want one you feel comfortable with. A good attitude, aggressiveness, marketing skills, knowledge of the area, honesty, openness, and client loyalty are all factors to consider. Local agents are more familiar with current conditions in your marketplace. Remember, it will be your agent's responsibility to market your property to potential clients, other agents, the area, and the world at large via the internet. Aggressive sales experience and a willingness to work hard for you is key.

♠ Home Inspection

Once you finally have that offer in hand, always insist on a home inspection. A thorough home inspection by a knowledgeable professional protects both the buyer and you in establishing the condition of the home at the time of the sale, including electrical, plumbing, roofing, and the general structure of the home.

♠ Disclosure Statement

PAY CLOSE ATTENTION TO THIS DOCUMENT. It must be filled out honestly and thoroughly. IT IS THE LAW! Failure to comply can be very costly.

This guide is provided as a courtesy by Lake Oconee Houses and Sycamore Oconee Real Estate