Dinsmore Team

The Legalities of Selling a Home: What You Need to Know

Jun 27, 2015 4:33 pm

Written by Marie Dinsmore

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When most people think of preparing their home for the market, they think of things like selecting the right real estate agent and proper staging. However, there’s more to getting your house in order than esthetics.

Plain and simple, selling your home involves a large amount of money, which means it also involves a sizeable amount of legal regulations that will dictate how the course of your sale will progress. While each seller may have a different reason for marketing their home—divorce, financial troubles, the need for more/less space—protecting yourself from the snares of the selling process is important.

To get you started, here are four steps you can take to avoid some of the common legal missteps of selling a home.

REMEDY ALL DEBTS, ENCUMBRANCES, AND LIENS

Prior to settling with a buyer, you’ll need to make sure that you’ve resolved any debt that your property may have incurred. While the outstanding amount may vary greatly depending upon the homeowner, one thing is for certain: the lienholder will get their money.

Therefore, if you are dealing issues such as a civil court judgement, missed child support payments, unpaid debts, or missed homeowner’s association dues, you’ll need to either pay what you owe or expect that the amount will be deducted from your final sale proceeds on the day of closing.

JOINT TENANTS MUST BE ON THE SAME PAGE

If you’re dealing with a property that has more than one owner—which may be the case if you’ve inherited the property—your options for selling are somewhat narrow. Plain and simple, everyone needs to be on the same page regarding how the proceeds will be split, so you must get consent from all of the owners before the sale. While each state has different regulations regarding how this must be done, suffice it to say that gathering consent can turn into a lengthy and expensive legal process.

Divorce can also be another example of a joint sale of a home, especially if it was owned through joint tenancy. In this instance, both owners will need to sign the transfer deed over to the new owners and must agree to spit the proceeds accordingly.

HOME SALE AGREEMENTS

If you’re in a situation where you’re unmarried and living with a domestic partner, it’s important to understand that, in the U.S., property and ownership rights are not necessarily guaranteed. Therefore, in order to encourage a smooth sale process, it’s important to create a home sale agreement in advance which will clearly set the contract terms for the profit division after the sale.

To accomplish this, make a point to sit down with your partner and establish the current financials of the property, which should include any and all outstanding debt, as well as your asking price and bottom line offer threshold.

While this conversation may feel slightly uncomfortable, taking the time to discuss ownership expectations—including everything from upkeep and improvements to monthly payments and sweat equity—will make the entire selling process go a lot smoother.

From there, it’s important to utilize the services of an experienced attorney (if you haven’t already done so) who can draft a home sale agreement which establishes things like proceed allocations, debt responsibilities, and other terms that require agreement.

GATHER THE NECESSARY PAPERWORK

While this aspect may seem like a bit of a no-brainer, it’s worth stating that gathering any and all important home documents will make sure you’re really ready to sell.

Include things such as:

Deed
Evidence of encumbrances, liens, judgements, etc.
Appraisals
Repair Documentation
Real Estate Agreements

At the end of the day, while it would be nice to assume it’s entirely possible for everyone to have a clean debt/legal history before selling their home, that’s simply not reality. Therefore, if you’re dealing with a less than perfect past, make a point to clean up what you can, gather everything in writing, and surround yourself with a team of experts who can help you through the process.

If you’d like some assistance, please contact me. I’d love to help you along the way.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-724-7789

Featured Neighborhood: Somerdale in Cumming, GA

Jun 19, 2015 10:49 pm

Written by Marie Dinsmore

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Set to open in the summer of 2016, this beautifully crafted community—built by Edward Andrews Homes—is located in Cumming, GA. With easy access to Atlanta’s main corridors, including GA 400 and GA 20, residents will be treated to a host of community amenities, as well as exemplary schools, world-class hospitals, and a host of recreational activities.

In addition, located just minutes away, you’ll also find an abundance of shopping and dining options, to include The Avalon, The Collection at Forsyth, and North Georgia Premium Outlets.

Starting in the mid $380’s, residents will be pleased to find two lighted tennis courts, a pool house with lounging space around the pool deck, versatile green space for the whole family, and a large swimming pool with kid splash zone. Inside, Somerdale homes feature open floor plans with hardwoods throughout the main level, as well as a gourmet kitchens and granite countertops, and spacious secondary bedrooms with walk-in closets.

For families with children, all schools are located in Forsyth County, with the neighborhood being closest to Sawnee Elementary, Liberty Middle, and West Forsyth High School.

If you’re interested in learning more about this gorgeous, up-and-coming community, please feel free to contact me. Current community hours are Tuesday-Saturday from 10am-6pm and Sunday-Monday from 1pm-6pm, with a model home available for touring.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

Sell Your Home Faster with These No-Cost Tips

Jun 12, 2015 2:18 pm

Written by Marie Dinsmore

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Purchasing a new home can be both exciting and exhilarating. Filled with promises of new beginnings and fresh starts, the process can actually be quite fun. However, while you might be in a hurry to imagine your life in new surroundings, the downside of the equation is that you still have to close on your existing home.

If you’re looking to move sooner rather than later, waiting all summer to get an offer on your current residence might hurt your plans, so it’s important to do everything you can to reduce your home’s time on the market. Therefore, according to a study conducted by the Real Estate Staging Association, homes that were staged before being listed received an offer within an average of 23 days, which is 87% faster than those that went months after listing before staging.

Still, finding the money to stage your home may be a bit of a stretch, so here are five FREE things you can do to get the job done.

FIND YOUR INNER NEAT FREAK – OR ENLIST THE HELP OF SOMEONE WHO CAN. Whether you’re already extremely tidy or you have a friend who is a master of organization, it’s time to declutter your way to a speedy closing.

Sure, it’s one thing to simply shove everything into a closet but it’s another to turn your space into an open, pleasing oasis. Start by tackling common junk areas such as magazine racks, fireplace mantels, kitchen and bathroom counters, and tabletops, and streamline those closets while you’re at it. Buyers want lots of storage and BIG closets, so the less things clogging them up, the better. Potential homeowners will want to see how much space is in there for THEIR stuff, not how much of your stuff can fit in the space.

SHOULD THAT COUCH REALLY GO THERE? Once you’ve taken the time to purge your home of disorganization and clutter, make a point to stop and look at the big picture. Your house should invite buyers to sit and stay a while, so if they can’t walk through your space without zigzagging through the room or bumping into furniture, it’s time to rearrange a few things.

Start by putting excessively bulky or unneeded items in storage and moving things away from the walls. Sure, you might have kept Aunt Mildred’s favorite chair out of obligation and nostalgia, but if it’s only taking up space, consider removing it from the home for a bit. Plain and simple, buyers want to walk in and see an open—yet cozy—space that invites family bonding, so the furniture should be placed in a way which begets this vision.

If, at the end of the day, you simply have no idea where to begin, you can always utilize the services of an experienced agent (free of charge with no obligation), who can walk through your home and help you rearrange things to produce the correct effect.

CLEAN, CLEAN, AND THEN CLEAN SOME MORE. Taking the time to clean your home before a showing should be common sense, but while many people understand the importance of presenting a fresh house, most underestimate how clean it should actually be.

At the end of the day, selling your home involves a large amount of money, so buyers want to see more than your standard tidy-up. Preparing your property for the real estate market involves all of those minute details and corners, such as ceiling fans, baseboards, window blinds, and tile grout. Additionally, don’t forget to clean your windows both inside AND outside. You’ll want to let in as much light as possible, so make sure they’re nothing short of squeaky-clean!

SET THE TABLE. The top thing buyers want from a home is to picture themselves living in it, so you need to put an effort into making sure they can do that. You can start by setting the kitchen and/or dining room table, since nothing represents family life quite like a beautifully staged dinner table.

To set the right mood, arrange your dinnerware like you’re preparing for a big holiday such as Thanksgiving or Christmas. Bring out your good china and linens, but keep things slightly simple by setting 2-4 places and adding a decorative centerpiece.

LET THE OUTSIDE COME IN. I’ve said it before, but it’s worth repeating. Most of us appreciate the beauty of the outside world, especially when it’s in full bloom. So, make a point to fill your home with favorite picks from your garden such as roses, zinnias, peonies, lilies, or fresh fruit and vegetables. If you’re short on vases, utilize the services of that old antique pitcher or Mason jar stashed in your cabinet.

If you’d like to learn more tips and tricks or would simply like some advice on where to begin, I’d love to offer my services, free of charge. Please contact me!

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

Mortgage Rates are Rising, So It’s Time to Buy!

Jun 8, 2015 5:21 pm

Written by Marie Dinsmore

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While most of us are happy to see the end of the foreclosure crisis and an improved national economy, the truth of the matter is that, while buyers were able to land some amazing deals during the recession, their current situation isn’t looking as promising. Plain and simple, in the majority of markets, the number of people searching for homes far exceeds the available inventory, which means many buyers are having a difficult time finding a home that truly meets their needs.

In the last few years, buyers were able to score big with low mortgage rates; however, the real estate industry—as well as the federal government—made no secret of the fact that rates were expected to go up in 2015.

As it stands right now, mortgages are up 30 to 40 points from last year’s low. While the actual math behind these numbers may prove confusing, suffice it to say that a higher mortgage rate will increase your monthly payment, which may potentially limit the type of home you can purchase. Present numbers would suggest that most buyers can expect an additional $40 on their monthly statement, which may prove to be a lot for many middle- and lower-income households.

Therefore, if your goal is to secure a suitable home at the lowest price possible, it’s worth entering the real estate market sooner rather than later since rates are expected to keep going up. To get things moving, it’s important to utilize the services of an experienced real estate agent, as well as a reputable mortgage lender who can help you look for discounts, government programs, and other savings during the application process.

With increasing mortgage rates, you’ll need all the savings you can get, so surrounding yourself with a solid team is extremely important.

To learn more about finding your dream home before the mortgage rates get even higher, please feel free to contact me. I’d love to offer my advice or provide you with referrals for several qualified mortgage professionals.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

Simple Reasons Why Great Agents are Vital to Sellers

May 31, 2015 6:38 pm

Written by Marie Dinsmore

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Whether you’ve sold a home in the past or are considering doing so in the near future, chances are good that the thought, “Come on, how hard can it be to sell on my own?” has crossed your mind—especially if you live in an area that has a high buyer demand. Even so, while it may be tempting to play seller and real estate agent, it’s possible that you may have overlooked a few real estate challenges.

At the end of the day, real estate agents have a significant job, so it’s important to understand why agents prove to be indispensable during the selling process.

Exposure. A great agent is an expert at marketing, which means they will have the experience and know-how to help you not only increase your home’s exposure, but to market it in a way that will appeal to a wide audience.
Outside Perspective. Sure, you may love your home and appreciate its quirks; however, a good real estate agent will bring a sense of objectivity into the equation. While you may overlook your home’s imperfections, it’s important to remember that most potential buyers will not, so heeding the advice of a solid agent can make all the difference.
They Handle All Showings. Whether you’ve already moved out or you’re simply dealing with a chaotic work schedule, an agent will be able to show your home to prospective buyers and answer their questions as needed.
Market Awareness. Plain and simple, a great agent will not only be familiar with the area, but have access to an abundance of current market data regarding pending and recent sales. While it’s completely reasonable to expect top dollar for your home, most agents understand that accurately priced homes tend to sell quicker than those that are priced too high.
Negotiation Skills. While some people truly enjoy negotiating, many people find it to be a stressful experience. Therefore, sellers with a real estate agent will find themselves in a great position because their agent can help secure a contract that will get them the most money.
Legal Knowledge. It should come as no surprise that real estate transactions involve a long list of state and federal legal requirements, which can catch up with a seller if they decide to market their home without a reputable real estate agent. To avoid legal trouble, an agent will help prepare the necessary disclosure documents and make sure that all of the seller’s paperwork is filed correctly.

If you’re considering selling your home, I offer free no-obligation consultations and would love to help you get the ball rolling! Please contact me for more information.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

How to Sell Your Home Before the End of Summer

May 22, 2015 7:38 am

Written by Marie Dinsmore

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As the weather heats up, so does our affinity for tasks such as laying by the pool or sipping iced tea in the shade. However, while the higher temperatures and long summer days are often conducive to relaxation and even a little—gasp!—laziness, if you have a house to sell, your down time may need to be cut a bit short.

Plain and simple, your property isn’t going to sell itself—even with a fantastic real estate agent in your corner—so it’s wise to operate under the assumption that you’ll need to get your hands a bit dirty to move things along.

Therefore, if you’re looking to get top dollar for your home before school resumes in the fall, consider the following steps:

HIRE YOUR OWN HOME INSPECTOR. I know what you may be thinking. “Why would I drop a few hundred dollars to hire my own inspector if the buyer will be bringing one in anyway?” In truth, it gives you the fantastic opportunity to deal with your home’s imperfections before they have a chance to destroy a fledgling home deal.

Depending upon the age and condition of your home, the inspector may leave you with a long list of findings that will require some work, but it’s important to remember that you don’t have to remedy every single item. Start by working with your real estate agent to tackle the most pressing issues and establish which ones can wait.

BRING IN THE SUN! If you’re attempting to sell your home during the warm, sunny months, why not capitalize on the spirit of summer by showing buyers just how enjoyable your home can be at this time of the year? To set the stage, consider these ideas:

Bid Farewell to the Clutter – Too much clutter will cause your home to feel closed-off and stuffy. The goal is to make your home feel like a breath of fresh air, so give buyers room to breathe by getting rid of those extra piles of papers, trinkets, and toys.
Foliage is For Inside, Too! – There’s nothing wrong with bringing in the outside. In other words, places things like vases of garden blooms, lush plants, or bowls of fresh fruit in every room.
Cheer Things Up – Yes, the standard advice is to keep your surroundings a bit more on the neutral side; however, add a bit of cheer by incorporating bright accents or pops of color in the form of interesting throw pillows, beachy or nautical décor, or colorful candles.
Beautify Your Outdoor Spaces – What’s better than a summer barbeque? Nothing! Therefore, make a point to dust off your porch and patio furniture, add a few colorful table settings, and make sure your yard is lush and trim.
Entice Your Buyers – We all love the feel of cool air conditioning after spending time in the sticky Georgia heat, so make sure your buyers breathe a sigh of relief when they enter your home. While you’re at it, feel free to make a fresh pitcher of lemonade so you’ll be sure to stay at the forefront of their memory.

PRICE IS STILL KING. Sure, you may have spent a large amount of money making your home look like something straight out of HGTV, but if it’s overpriced, most buyers won’t even cross the threshold. Plain and simple, while buyers may appreciate the amount of work you put into your home, their main goal still involves getting a great deal. Therefore, while you still don’t want to simply give your house away to the first interested buyer, it’s important to have an understanding of a proper asking price that will give you the most amount of money in the least amount of time.

To find this balance, make a point to work with a real estate agent with experience in establishing comparative market analysis’ (CMA). A CMA pits your home against others that have sold near you in recent months so that you can gain a better understanding of what buyers are actually willing to pay.

SURROUND YOURSELF WITH EXPERTS. There’s no denying that, even in the best circumstances, selling a home is stressful, so make a point to build a winning team to help you get the job done.

A good real estate agent will not only help you with the heavy lifting, but will offer consistent, supportive advice throughout the entirety of the process. Make a point to look for someone with a proven track record of sales and reputation for being the kind of person who truly treats their customers with respect.

As the 2014 RE/MAX All Properties top selling agent, I have both the experience and reputation to get your home sold quickly—and for a great price!

For more information, please feel free to contact me. I’d love to help you along the way.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

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The Legalities of Selling a Home: What You Need to Know

Featured Neighborhood: Somerdale in Cumming, GA

Sell Your Home Faster with These No-Cost Tips

Mortgage Rates are Rising, So It’s Time to Buy!

Simple Reasons Why Great Agents are Vital to Sellers

How to Sell Your Home Before the End of Summer

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