Category Archives: Buying

Contingent Purchases- How to Buy a Home When You Need to Sell First

Are you looking to buy a new home but need to sell your current home first? Elizabeth Sady has the best options for buying a new home while selling your current. Watch the video for all of her advice including what to do if the contract on your current home falls through.

Mortgage Interest Rates are Going Up

The housing market is rebounding, and that means mortgage interest rates are going up. Every percent that interest rates increase has a direct effect on how much home buyers can buy for the same amount of money. Watch the video to learn more from the KC Live home and real estate expert, Elizabeth Sady.

Common Home Inspection Problems

Maintaining your home in a crucial part in maintaining its value. You can avoid big home inspection problems by keeping your eye out for some common issues. The KC Live Home and Real Estate expert Elizabeth Sady shared a few common problems she’s seen in her years working with buyers and sellers. Watch the video to see examples of what you should look for around your home.

How Does a Realtor Help when Buying a Home?

Whether you’re in the market for your first home or your considering buying a new home, an experienced realtor can be a real advantage throughout the process. Kansas City Live’s Home and Real Estate Expert Elizabeth Sady walked us through her process of working with clients to make the home buying or selling process fun and stress-free.

Inspection Periods

Did you know some states have 30 day inspection periods when you buy or sell a house? Recently in the KC area, buyers have required 14 days instead of the standard 10 and that feels like forever!! I cannot imagine what it is like as a seller living with all the uncertainty, when a buyer has 30 days to determine if they really want to buy your house or not?!?!?!

Benefits of Downsizing to a Different Home

Downsizing to a DIFFERENT home could give you space that you can use in ways more enjoyable in your current lifestyle. Trade in those 2 empty rarely used bedrooms for a three seasons room in your new home. Or an outdoor living space! Or better yet, a kitchen with all the bells and whistles! Even better… sell your home in Kansas City for a smaller KC home AND a vacation place!

This segment goes over why homeowners choose to sell their large family homes and pick out something that better suits them. Do you have friends or family considering a downsize? Share this segment on reasons why now is a good time to make the move… pun intended. 😉

How to be a Competitive Home Buyer

As a buyer in today’s market, it is an absolute must that you are prepared. Here are a few ways to make sure you are prepared to put your best foot forward when looking for a new home.

With great houses getting multiple offers in just a few days on the market, I have many additional techniques and strategies to make sure your offer stands out! Give me a call to discuss how these techniques and strategies can help you, I don’t want to blog them and give away the best stuff to everyone. 😉 816-200-SADY(7239)

Please share with friends, family or co-workers that are considering buying a home!

TIPS for BUYERS

[wpaudio url=”http://esadyrealestate.com/radio/2012-02-05/eSADY-2012-02-05-segment1.mp3″ text=”Preapproval Letter (on the radio show)”]

[wpaudio url=”http://esadyrealestate.com/radio/2012-02-05/eSADY-2012-02-05-segment2.mp3″ text=”Closing Costs (on the radio show)”]
[wpaudio url=”http://esadyrealestate.com/radio/2012-02-05/eSADY-2012-02-05-segment3.mp3″ text=”Days to Close (on the radio show)”]

[wpaudio url=”http://esadyrealestate.com/radio/2012-02-05/eSADY-2012-02-05-segment4.mp3″ text=”Question #1 (on the radio show)”]
[wpaudio url=”http://esadyrealestate.com/radio/2012-02-05/eSADY-2012-02-05-segment5.mp3″ text=”Question #2 (on the radio show)”]
[wpaudio url=”http://esadyrealestate.com/radio/2012-02-05/eSADY-2012-02-05-segment6.mp3″ text=”Question #3 (on the radio show)”]

Seller Paid Closing Costs

Buyer Question: On the FEE WORKSHEET from my lender, how do I know which “closing costs” I can ask a SELLER to pay for when I purchase a home?

eSADY answer: On the fee worksheet, add the CLOSING COST amount to the PREPAIDS. This equals what industry calls “closing costs” that you could ask a seller to pay.

What you see below as “Est. Closing Costs (+)” are the lender fees, broker fee, recording fees, etc. The “Est. Prepaid Items/Reserves (+)”
represents the money collected to start your escrow account for taxes and homeowners’ insurance.

Closing Costs and Prepaids

Closing Costs and Prepaids

It does not matter if you are in Kansas or Missouri; a seller can pay for closing costs. This is a part of the negotiation. A seller does not HAVE to pay a buyer’s closing costs. If you want them to pay your closing costs, you have to consider how it affects the amount that the seller will net. Let’s use an example…

You find your dream home and your agent runs COMPs for you. He/she finds that the market value is right around $290,000. If you want the seller to pay your closing costs of $4,000, you may want to offer $292,000. The seller will have to pay the $4,000 of closing cost out of the proceeds they receive from the sale of the home at $292,000, thus they are really only receiving $288,000 for their home.

Other fun CLOSING COST facts:

–> You CAN ask for closing costs when purchasing a foreclosure.

–> You CAN ask for closing costs when purchasing a short sale.

–> A seller MAY NOT have proceeds to pay for closing costs in some transactions. (If they are upside down in their home, they may have to bring money to closing to sell their house, thus, not have additional money to pay your closing costs.)

–> The type of loan may limit how much of your closing costs that a seller can pay. (for example, FHA)

–> Negotiated Seller Paid Closing Costs are of the “use it” or “lose it” variety. If you ask for $4,000 and then only need $3,000, the seller keeps the additional $1,000.

–> You can include some of your inspection costs in your Seller Paid Closing Costs at closing.

I would highly recommend a REALTOR be used in your purchase. Every transaction is different and you need a professional to help you make sure you negotiate smartly and as much as possible, as well as protect you through the closing of the transaction.

Make sense? If not, feel free to call or email me and I will do my best to explain it better.

elizabeth SADY

e@eSADY.com 816-200-SADY (816-200-7239)