September 13, 2008
Wow, how time flies when we are having fun. This week has been crazy. My husband is Jeff Neer for those of you that do not know, and he is a home builder. He builds the most gorgeous homes ever. It is so neat to see the great pride that my husband takes in his work.. I thought when he signed the closing paperwork this time that he was going to cry. He absolutely loved this home..and I will tell you why. You see we spent most of our dating time in this home. I would have loved to have kept it as ours, but it needed to be sold, so even I get a little teary eyed as we turn this home over to another family.
We have been married about 3 and 1/2 months now, and when I was dating him the only time we really had to get together was at night or on the weekends and of course he was working hard to get the home done. So, we would spend countless hours talking while he worked, or him showing me something or other on the home and then going out. I fell in love with him in this home watching him paint and work. I realized what a hard worker he was, and how good of a father he would be to my two children, because they came too ,and he even put them to work, or taught them how to do different things. He is a good man. There is not many left anymore. So, you see the reason why we get a little teary eyed at the close of this home. I know the family moving into it will love it too, but I hope they look at it as more than just a good deal, but as an act of love. Because that, is exactly what it was.
August 30, 2008
Empty Nest Syndrome
What a fun time of year. The time has come once again to let go of summer and embrace another school year. I do miss the lazy days, but also revel in the fact that once again my children are growing up. It is getting harder to remember their first days of kindergarten, and I wish I could. The little hands that are gripping yours so tightly because they do not want to go in and leave you. As they run for the bus now it is with a sadness that I watch them get on and not look back to take one last look at home before their day starts, but I guess that is all part of their growing up process.
While the beginning of the school year for them means the start of homework, new friends, old friends, lockers, and school lunches, for me it means my hectic life gets even crazier. The meetings have started...booster clubs, pta, open houses, school conference and much more. And then of course there are the football games, the cheer leading, and the chorus. Some nights just seem like they will go on forever, but then I take a step back and remember their little hands, their tearful faces, the scrapes on the knees, tricycles, and sponge bob band aids, and I remember how fast it goes.
So, what is a middle aged mom to do? Enjoy! Enjoy the moments that fly by way too fast. Enjoy sitting in the bleachers with the cow bells and air horns, snacks and blankets on a cold fall night watching the leaves turn from green to orange and red. Enjoy watching the beautiful pre-teen getting thrown up into the air, and the other girls catching her as you hold your breath, enjoy the emergency room visits, and enjoy the late nights waiting for them to come home..enjoy it, because before you know it their gone. The yearning for the busy days will start, and fall will bring a time of reminiscing, and wishing for the times of the past.
So, for now, I will put down my work, and enjoy my children and just listen and breathe! And Enjoy! Have a great Labor Day Weekend Everyone!
Kim Neer
Why A pre-qualification letter?
As a buyer in any price range, you should never under-estimate the value of a loan pre-approval letter. Understanding the motivations of the seller is the key. You are quite familiar with your situation and financial abilities, however the seller knows nothing about you or your ability to purchase their home.
Imagine yourself as the seller for a moment. They definitely want to sell their home. However, to enter into a contract contingent upon financing, they need to have some assurance that you have the ability to procure your mortgage. After all, their home will come off the market during this period, and should you fail to secure financing, this time will have been wasted. Their home will have to go back on the market again. Besides their disappointment, they may have missed some valuable marketing time in the prime season.
A loan pre-approval letter can be even more important if you're making an offer without a substantial down payment. The lower the down payment percentage you bring to the offer, the more important the loan pre approval becomes.
When showings are frequent, or there has been expressed verbal interest, the seller will be even more careful about accepting an offer. Just as they have made an effort to package their home well and present it to you properly, you are in sales mode also. You are selling yourself as the perfect buyer for their home. Making an offer without a mortgage pre-approval letter is a little bit like marketing a home without photos. Neither side has enough information to make a decision.
Another consideration is the quality of the mortgage pre-approval letter. The more specific the information, the better it will be received by the seller. Some buyers fear that a loan pre-approval letter with a higher dollar amount approved than they're offering for the home will create a disadvantage in the negotiation. Unless it's a large difference, that usually isn't the case. However, since they are computer generated, once you know what you'd like to offer for the property, have your mortgage broker print you up a new one.
Always remember that, though you're the buyer of the home, you're the seller of your offer. The strength of your offer is a combination of offering price, down payment, offer contingencies, and your ability to complete the purchase. Weakness in any of these areas could cost you the home of your dreams. Don't let a lack of financial preparation become your downfall.
Kim Neer-copywrighted
What stays when selling a home
In the sale of a home, certain items are considered "fixtures" or "real property", and others are items that can be removed by the sellers. Knowing the difference, and making sure that any borderline items are mentioned in the purchase contract is quite important. Misunderstandings in this area account for a great many disputes between buyers and sellers. Unfortunately, if not addressed earlier, there is usually no inkling of a problem until the walk-through a day or two before closing. By then, the sellers may have already shipped the items with their movers.
Normally, appliance items that have some type of hard connection to the home are considered fixtures and should remain. A range or oven generally has a gas connection or substantial wiring. They are also normally "built-ins." If an item appears to have been built into the cabinets, it would generally remain. This would include a built-in microwave oven. However, a microwave that stands on the counter would normally be something the sellers would take with them. Generally, unless built into the wall or cabinetry such that removal would cause damage, a refrigerator would be personal property subject to removal. However, in some areas of the country, it has become customary to leave the refrigerator. This is one item that likely should be mentioned specifically in the listing, in the contract, or both. Almost always, a chest or upright freezer is not a fixture and would be taken by the sellers unless otherwise negotiated. Clothes washers and dryers are normally taken by the sellers.
Believe it or not, light fixtures hanging from ceilings are involved in a great many disputes. It seems that sellers forget to tell their listing agent that the chandelier hanging in the dining area is a family heirloom. The buyers arrive for the walk-through and find the chandelier gone with a cheap fixture in its place, or nothing at all. Many states have incorporated language in their purchase agreements specifically stating that all mounted lighting is to remain in the home unless buyer and seller agree on removal. If that wording is present, you probably do not need to worry about a really ornate ceiling or wall-mounted fixture. Remember though that anything can be written into a contract, so have it put in if you're concerned.
Window coverings are something that are normally mentioned in the listing, the standard purchase agreement language, or both. There isn't normally a fixed rule for them, so make sure that you know what the seller intends with regards to blinds, drapes or other window coverings. Of course, if you don't like them, then you might want them taken by the sellers. Otherwise, look for the specific disposition of window coverings in writing.
Another area of dispute involves mirrors and shelving that appear to be attached to walls. Many mirrors are hung like artwork with wire on a picture hanger. This is not a permanently attached fixture, and the seller will probably take it with them. When you've made a decision to make an offer on a home, a second walk-through is a good idea. Carefully try to move shelving and mirrors that appear to be attached to the wall and that you would want to stay with the home. If they're firmly attached and you cannot move them, they're probably a fixture. If that mirror moves around, it likely will be removed by the sellers. If you like it and feel that it is the perfect piece for that room, have your real estate agent write into the contract that it is to stay.
Landscaping planted in the ground, rocks used for landscaping, in-ground watering systems, and edging around flower beds will usually be considered permanent and remain. However, yard statuary and plants in pots may be removed by the seller. Swing sets and outdoor play equipment are personal property and subject to removal by the sellers. A hot tub built into a deck would normally be a fixture, while a free-standing hot tub, even if there's a water line piped to it, would be an item to negotiate. Otherwise, it could result in a dispute. Pool equipment, awnings and mailboxes are usually considered fixtures to remain with the home. Satellite TV equipment is a variable. Sometimes it's rented from the satellite provider, and at other times it's owned by the sellers. This is one item that almost always needs to be addressed somewhere in the purchase agreement.
You're about to make a very large purchase, likely mortgaged with many years of payments. Don't be shy about asking questions and having items written into the contract if there is any doubt as to who will end up with them after closing. You may find that, far from being upset, the sellers will thank you for bringing up an item that they expected to take but hadn't excluded in the listing. At least the negotiation will be at the time of the purchase offer, not 24 hours before closing. As the buyer, you also have a bit more negotiation power in the offer process.
Kim Ellis