Wednesday, May 29, 2019

What are Contingencies on a Contract?



What are Contingencies on a Contract?


Contingencies are commonplace in contracts of all kinds. A contingency allows for one party or another to legally back out of a contract in the event of some specific condition occurring. They are protection against the unknown. 

 In real estate, there can be contingencies inserted for either buyer or seller or both. These take many different forms and until removed in writing, either party may change their minds based on the result of the contingent event or issue.

  Some examples of home buyer contingencies: 

• Home inspections – condition of the home

 • Specialty inspections – mold, geological, roof inspections

 • Code Violations – an investigation into improvements made without permits

 • Lender appraisal – ensures the offered price is not too high 

• Sale of current home – allows the buyer to back out if they cannot sell their current home in specific time frame

 • Final loan approval – loan is ready for signature and close

 • HOA CC&Rs – review of documents to ensure rules and regulations do not infringe on enjoyment of property 

• Insurability – home owner’s insurance available at a reasonable rate 

Home sellers can also have contingencies included as well, such as one which states the sale is contingent on finding a replacement home. Contingencies are a fact of contract law. In real estate, they ensure that the offer is concluded as expected.

Home Buying doesn't have to be complicated or stressful. You can trust that I can advise you every step of the way. Contact me at Davis and Associates to help you answer all your Real Estate Questions. 



Monday, May 20, 2019

How To Lower Closing Costs








How To Lower Closing Costs

Closing costs help facilitate the sale of a home and both buyers and sellers pitch in. Some closing costs can be paid before the home is officially sold and others are paid at the end. 

 However, closing costs aren’t set into stone and they can be negotiable. You can ask your real estate agent or lender with help in estimating your actual closing costs. Look over everything to make sure all the numbers are right and then you plan accordingly in how you’re going to lower them.  

Loyalty Programs
  Some banks offer assistance to buyers when they use them to help pay for the purchase. It’s a way for a bank to reward loyal customers. 

 Closing at the End of the Month
 Schedule your closing at the end of the month so you don’t have to pay the per diem interest for so many days.  Get Multiple Quotes Get estimates from different lenders because you’re looking for the best package of closing costs and interest rates. There might be something better out there.  

Junk Fees
There may be some fees a lender charges that may be negotiable, such as origination fee, processing fee, or application fee. Make sure to ask if what you are being quoted is the best they can offer.  

Title Costs 
Sometimes title insurance and settlement are bundled together. You may be able to find a title and settlement company that is less expensive. 

 Negotiate With the Seller
You can try to negotiate with the seller in paying for some of your closing costs. Buyers can ask for credit or to cover lender expenses during the offer and negotiation process










Wednesday, May 8, 2019

DETERMINING THE RIGHT PAINT FINISH






Determining the right paint finish

Paint is one of the easiest ways to change the feel of a room – or even a home. A fresh coat of paint in a trendy color can update a room in an instant. Choosing the color is only one aspect of picking the right paint; the finish or sheen is also important to the look and feel of the space.  


Flat Finish

Flat finishes is exactly like it sounds – flat. There is no sheen at all. Today’s matte finishes reflect rich tones and are much more luxurious than the dull finishes of the past. Use for: 

  • Ceilings
  • Dinging Room
  • Formal Living Rooms
  • Adult Bedrooms
Satin Finish 
Satin finishes have just a slight sheen. These finishes reflect the light softly and provide a richer look and feel than flat paint. These are better for high traffic locations than flat.  

  • Halls
  • Baseboards 
  • Family Rooms 
  •  Children’s Bedrooms


Semi-Gloss
Semi-gloss provides even more shine. These paints can make a room seem larger by providing a slight gleam from the painted surfaces. Easy to clean, a semi-gloss paint works well in areas frequently cleaned.

  • Kitchens
  • Bathrooms
  • Close Doors and Cabinets 
  • Stair Rails and Banisters

Gloss
 A high gloss paint is the brightest available. These paints bring out the truest color of the paint and provide a durable finish for areas you wish to highlight. A high gloss paint works well for accents. 

  • Wood Trim
  • Doors
  • Furniture

Each of these types of finishes has variations as well. Today’s paints are more luxurious with deep, rich pigments and more durable elements. Choosing the right color and finish can bring freshness and modernity to any room or home. 

Contact Me (Kristi Fenton) at Davis and Associates Inc., Realtors  if you have any questions on all of your home buying and selling needs.