Monday, July 27, 2015

Want to sell? Pre-qualify your Orlando home.

You know you want your buyer pre-approved before taking your Orlando home off the market to await closing.
But what if your house that won't qualify?
Yes, that can happen – without your knowledge. And while most of the issues that prevent closing can be cured, they can cause enough delay to send your buyer looking for a different home.

 What kinds of issues disqualify a home from being sold?
1.    IRS tax liens are a big one. These can generally be negotiated, but until they get permission from the IRS, the title company won't clear for closing.
2.    "Extra" people on the title can also cause a problem.
·         If someone co-signed your purchase they might appear.
·         If you've been through divorce and believed the house to now be entirely in your name, you could be mistaken.
·         If your co-borrower is deceased and you haven't been through probate, you will need to see a lawyer to complete the appropriate paperwork.
3.    Old mortgage loans can cause the most time-consuming problem of all. These occur when a homeowner refinances and the original loan is not cleared from the title. How could that have happened? Someone simply forgot to record the release. I heard of one that took 6 months' of the listing agent's diligent follow-up (otherwise known as nagging.) The original lender had sold to a larger bank a few years earlier and the records were in an archive somewhere in California. No one from the old bank remained and no one from the new bank was particularly interested in assisting. It was one of those cases where the people in a position to solve the problem thought "What's in it for me?" and the answer was "Nothing."

To avoid these last minute surprises, order your title report as soon as you know you want to sell your home. It costs a few dollars, but if you use the same title company when you sell, they may be willing to apply those dollars as a credit at closing.

If you're getting ready to sell your home in Orlando and don't know who to call, call me first. I can put you in touch with a Title Officer who will provide what you need. 

Before you move into your Central Florida home... a checklist

 A few days prior to closing it's time to put some things in motion:
  • Visit the post office for a change of address packet. Be sure to tell your mail delivery person that you're moving and ask that any mail that slips through be forwarded to you. While you're at it, thank him or her for past service, because a little appreciation from you will help assure success.
  • If you have a choice of utility providers, do your research. You might save money with a package of TV, phone, and Internet service. See what various providers have to offer, then get set up to have service when you move in.
  • Let your current providers know that you're planning to move and the expected date – then notify them again at the last minute.
  • If you have service providers at your current home (lawn care, pool cleaning, etc.) give them plenty of notice that you're planning a move.
  • Hold a yard sale and/or make a donation to a non-profit with a thrift store. Instead of moving all those items you never use, simplify your move by lightening the load before moving day.
When the big day arrives…

The day you receive the key to your new home is an exciting one, but before you start moving in, you have a few more tasks to attend to:
  • First priority! Change the locks. You have no idea how many people have copies of keys to those current locks, so think safety and security first and change them. If you're handy, visit a hardware store. If not, call a locksmith.
  • Do some deep cleaning. Yes – the previous owners probably cleaned before they vacated, but you'll feel better if you either do it yourself or hire a service to come in and give everything another once-over. Get a steam cleaner in to sanitize the carpets, even if they look fine.
  • If you've seen any sign of "varmints" in the house – get the exterminator in before you unload any of your possessions.  
  • If you plan to replace the carpets or paint any rooms – do it before you move in, simply because it's easier.
As soon as you know when you'll actually move into that new Central Florida home…

Go online and change your contact information with creditors, financial institutions, schools, and publications.

And don't forget your friends. Just because we communicate electronically much of the time doesn't mean your friends shouldn't have your new address. (After all – they might want to come and visit, or send you a housewarming gift!)  

If you haven't found that new home yet... call me! I'll help you find the perfect match for your lifestyle!