Judy Moore - Barrett Sotheby's International Realty



Posted by Judy Moore on 8/26/2018

What Is The Disclosure Statement?


Disclosure statements are used in many of life’s situations. This is the place where the buyer is able to learn about the ins and outs of the property that they are about the buy. Examples of items that would be on a seller’s disclosure are:


  • Water in the basement
  • Updates made to the home
  • Known pests
  • Paranormal activity
  • Death on the property
  • Past fires
  • Nearby major construction projects
  • Title 5 sewerage issues 


Disclosures Serves As Protections


The disclosure statement serves as a protection for both the buyer and the seller. From a buyer’s perspective, through this information, they are able to understand a bit more about the property that they are potentially buying. 


On the seller’s side of things, the disclosure statement serves a s legal protection of sorts. The seller is obliged to reveal anything about the property that could potentially affect the value or affect the living conditions.


How Does The Seller Make The Disclosure


Each state and even each city within a state varies in the way a disclosure is conducted.  The statement can be composed of dozens of documents that need to be signed by the seller. Other states have disclosure document forms that consist of a series of yes or no questions about the home. Sellers may also be required o present communications between neighbors, owners, and agents. In some states, the disclosure statement is valid for up to 10 years, allowing buyers to collect damages if something wasn’t properly presented on the statement.  


How Do Sellers Know What To Disclose?


The basic rule of thumb is that if you know something about your property, you should disclose it. If you try to hide something, it could come back to meet you in the form of a lawsuit, even years later. Many states have legal requirements as to what should be revealed on these documents.  


What’s Disclosed To Buyers?


The disclosure doesn’t have to be all bad. This document is also an opportunity for sellers to present any of the improvements that they have made to the home. Make sure that you include all of the upgrades, renovations, and improvements that you have made to the home that you’re selling. This can help to impress buyers as to how well you have taken care of the property.


It’s easy as the buyer to check some of these improvements as you can find out if the work was done with or without permits by checking with the city’s zoning reports. Work that was done without a permit may have not been completed according to code. This could pose some serious health and safety risks to you and your family. 


Problems that you’ll want to disclose as a seller include pest problems, property line disputes, disturbances in the neighborhood, liens on the property, and appliance malfunctions. 


Remember that the disclosure doesn’t substitute the buyer’s right to a professional inspection of the property. It’s important for buyers to know as much about a property as they can in order to be sure they’re making a good investment.





Posted by Judy Moore on 7/15/2018

Buying a home is one of the most expensive undertakings that you’ll ever have in your lifetime. You probably have spent months upon months saving for a downpayment in order to make your home purchase. The problem is that after they believe their savings are complete, many buyers discover unexpected costs that go along with buying a home, making the entire process even more stressful. You should be prepared for many different kinds of costs that go beyond the sticker price of a home. Below, many of those surprising costs are laid out in detail. 


Closing Costs


Closing costs can be anywhere from 2-7% of the purchase price of a home. Closing costs cover quite a bit including:


  • Inspection fees
  • Appraisal
  • Title insurance
  • Property taxes
  • Mortgage insurance
  • Underwriting fees
  • Recording fees
  • Loan origination fees

Depending upon the type of loan you get or your specific circumstances, your closing costs could be even more. Keep in mind that you won’t find out your specific closing cost amounts until the purchase of the home is well underway. You can talk to your realtor and lender ahead of time to be prepared for your own situation.


Closing costs are also negotiable, so don’t forget to ask questions. Certain administrative fees, for example, are often unnecessary and can be waived.  


Low Appraisals


If you have a low appraisal on your home, you may need even more cash on hand. In order to meet loan and home value requirements, lenders won’t approve a loan for an amount that’s higher than the home is appraised for. In this case, if you still want the home, you’ll be left to come up with the difference in cash. Otherwise, you could be forced to walk away from the deal and lose some money in the process. This is one of those home purchase emergencies that you should simply be aware of. It can be an emotional experience to get a low appraisal on a home, but remember that there are sensible ways to deal with this dilemma.       


Moving Expenses


Many buyers forget in the excitement of buying a home just how much it will cost to move. Whether you hire a moving company or do it yourself, moving can be expensive. You’ll need a truck, packing supplies and a way to pay (or simply thank) the people who help you to move. 


The Things You Need For Your Home


Your home won’t come with everything that you need. You may have to buy a refrigerator, have some repairs done, or simply get furnishings for the home. Don’t strap your budget so thin that you won’t be able to buy a sofa until six months after moving into the home.   




Categories: Uncategorized  


Posted by Judy Moore on 6/10/2018

Where you decide to live is perhaps one of the most important decisions that you’ll make. The location of your home will determine the property value and how much you can potentially get out of your investment. The location of your home also will determine how you live your everyday life. What’s nearby and how you get around are big factors based on where you choose to live. Here’s what you must consider when choosing where you want to live: 


The Part Of The Country You Live In


Where you choose to live is based on a lot of factors in your life. Yet, the part of the country that you choose to live in has such a big impact on your lifestyle. If you’re planning on staying in your home for a long time, this is an important decision. Although many people have their location chosen for them based on job and family needs, other people work this question out a bit differently. 


City Life Or The ‘Burbs?


If you like peace and quiet, this is an important question. If you live far outside the city, you’ll be able to have a lot more land than if you buy a home within the city limits. Education options are also greater in the city compared to a town or rural area. If you are looking for wider access to entertainment, shopping and medical services, you may need to strongly consider living closer to the city. If you like a bit more quiet, choose the outer limits as a place to live. 


The Neighborhood


Each neighborhood in a particular area has different characteristics. You’ll want to find a neighborhood that fits your personality and needs. You should feel comfortable and at “home” in your neighborhood. Also, you’ll want to be in close proximity to your workplace so that you avoid a long commute. 


What Are The Schools Like?


This is one of the most important questions for people who have a family or are planning to start a family. You’ll need to do some research as to what school systems are like in specific areas that you’re thinking of living in. Keep in mind that you may end up paying a premium to live in a neighborhood that has a good school system.


Neighborhood Culture


Depending upon the neighborhood that you choose, people will either keep to themselves or provide a certain kind of social pressure. In certain neighborhoods there’s more social activity and more pressure to send your kids to certain schools and enroll them in certain activities. 

What’s Next? 


Now that you know how to find the right place to search for a home, you’ll need to figure out what kind of home you’d like to live in. Start making your wish list!





Posted by Judy Moore on 6/3/2018

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Ready to buy a house? It pays to be proactive, especially if you hope to streamline the process of acquiring a terrific residence at a budget-friendly price.

A superb house is likely to stir up interest from large groups of homebuyers. Fortunately, with a proactive approach, you can stay ahead of the homebuying competition and boost your chances of securing a wonderful house.

Ultimately, there are several best practices for proactive homebuyers, and these practices include:

1. Search for Homes Early and Often

The early bird catches the wom. Much in the same vein, a proactive homebuyer is better equipped than others to achieve his or her desired results.

Keep a close eye on the housing market – you'll be glad you did. If you monitor home listings in your city or town, you can quickly identify potential properties that you may want to buy.

In addition, evaluate housing market trends and patterns. With this housing market data in hand, you can differentiate between a buyer's and seller's market.

2. Get Pre-Approved for a Mortgage

Meet with several banks and lenders in your area. By doing so, you can explore a variety of mortgage options and select one that complements your finances.

There is no shortage of mortgage options at your disposal. For example, many homebuyers prefer a 30-year fixed-rate mortgage, which guarantees they will pay the same amount each month for the life of a mortgage. On the other hand, some homebuyers choose a 15-year adjustable-rate mortgage, which features lower upfront payments that gradually increase over time.

If you're uncertain about which mortgage option to select, there is no need to worry. Banks and credit unions employ friendly, knowledgeable mortgage professionals who can help you make an informed decision.

Perhaps best of all, meeting with mortgage professionals guarantees you can receive expert responses to your concerns and questions. These mortgage professionals will devote the necessary time and resources to assist you and make it simple for you to select a great mortgage.

3. Collaborate with a Real Estate Agent

If you want to enter the housing market, there is no reason to wait. In fact, if you contact a real estate agent today, you can immediately launch a successful homebuying journey.

A real estate agent is dedicated to your homebuying success. He or she first will learn about your homebuying goals, ensuring you can start the homebuying journey on the right foot. Then, this housing market professional can help you narrow your search for your dream residence.

In most instances, a real estate agent will set up home showings, keep you up to date about new residences as they become available and help you submit home offers. This housing market professional also provides a one-of-a-kind homebuying resource. And if you ever have homebuying concerns or questions, a real estate agent is ready to respond to them.

Don't wait to kick off a homebuying journey. Instead, use the aforementioned tips, and you can become a proactive homebuyer.




Categories: Uncategorized  


Posted by Judy Moore on 5/20/2018

The homebuying journey should be fast and seamless, but problems may arise that prevent you from accomplishing your desired goals. For example, if a buyer with a poor credit score fails to get financing before submitting an offer to purchase a house, this individual may struggle to acquire his or her dream residence. Or, if a buyer fails to evaluate various housing market data, he or she may miss out on opportunities to purchase the right house at an affordable price.

There is no need to worry about homebuying crises. Lucky for you, we're here to guide you along the homebuying journey and ensure you can mitigate problems that otherwise may make it difficult for you to buy your dream house.

Avoid homebuying crises – here are three tips to help you minimize the risk of encountering problems during the homebuying journey.

1. Learn About the Local Housing Market

The housing market is complex, regardless of whether you are pursuing residences in small towns or big cities. Fortunately, plenty of housing market data is available to help you understand real estate patterns and trends. This information can help you map out your homebuying journey based on the current housing market's conditions.

Typically, it helps to look at the prices of recently sold houses in your preferred cities and towns. This information highlights whether house sellers are receiving offers at or above their initial asking prices and may help you differentiate a buyer's market from a seller's one.

You also should examine the prices of available houses that match your homebuying criteria. That way, you can hone your home search and accelerate the homebuying journey.

2. Get Pre-Approved for a Mortgage

Believe it or not, it usually does not take long for a homebuyer to get pre-approved for a mortgage. In fact, banks and credit unions can quickly teach you about different home financing options and ensure you can make an informed mortgage decision.

If you receive pre-approval for a mortgage, you can enter the housing market with a budget. Then, when you discover your dream house, you can submit an offer to purchase with home financing in hand.

3. Work with a Real Estate Agent

A real estate agent is a must-hire, especially if you want to limit the risk of potential crises during the homebuying journey. With a real estate agent at your side, you can identify homebuying problems and resolve these issues before they escalate.

Generally, a real estate agent will support you at each stage of the homebuying journey. He or she first will learn about you and your homebuying goals. Then, a real estate agent will create a personalized homebuying strategy to help you accomplish the optimal results. And if you have concerns or questions during the homebuying journey, a real estate agent is happy to respond to them.

Prevent homebuying crises – use the aforementioned tips, and you can increase the likelihood of a successful homebuying experience.




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