The time has come and you are ready to buy, but before you start searching for your next home review this checklist. This list helps you prepare your budget in advance and guide you to financial success in the future.
1. Reduce Debt & Increase Credit Score: Before you start looking for your next home you should request a credit report. This will give you a starting point on understanding your credit score before you request a loan. Your credit score will influence the interest rate of your loan.
2. Save Money to Set Yourself Up with a Large Down Payment: While it is possible to purchase a home without a 20% down payment it’s best to get as close as possible. This will allow you to have a smaller mortgage rate, Avoid PMI, and receive a better rate. If you do not have a 20% down payment you may qualify for a VA or FHA loan.
As you begin the process to find your next home checking these items off your list will provide you with a more successful home buying experience. Our team is here to help you! Let us know the area and/or neighborhood you are looking to live along with your top needs our team of professionals will assist with finding your next home.
When the time comes to sell your home, you will be asked to fill out a disclosure statement that will list “material facts” about problems you are aware of regarding the condition and history of your home. Both federal and state laws govern what must be disclosed during a property sale and as the homeowner you must be the person to complete these disclosure forms. By law your real estate agent cannot complete these forms for you.
Sometimes, homeowners are told varying policies regarding disclosures. The general rule of thumb is that you must disclose anything that would:
• Lower the perceived value of the property • Affect the buyer’s decision to purchase • Change the price and/or terms the buyer offers
Common disclosures include information about any natural hazards, fire hazards, pollution problems or zoning changes that affect you property. If you feel like you don’t properly understand the disclosure requirements, you should consult a real estate attorney who knows the local disclosure laws.
As you fill out these forms just remember, you should strive to answer all of the questions to the best of your ability. Don’t sweat the small stuff, but make sure you disclose everything that you’d want disclosed to you if you were the buyer. If you don’t know the answer to a question (such as exact age of the roof if you’re not the original owner or the like), answer “Do Not Know.” But not having precise facts about defects you know exist does not permit you to answer “Do Not Know” to every question. This will always raise a red flag.
Lead Paint Disclosure – A Federal Law
You may think that lead paint is only a problem for folks buying cheap goods imported from China, or for people living in ancient, dilapidated housing. Not so. As recently as 1977, lead paint was used in homes across the United States.
In order to protect Americans from lead poisoning in the paint, dust and soil in their homes, Congress passed the Residential Lead-Based Paint Hazard Reduction Act of 1992, also known as Title X. If your home was built before 1978, you are required to disclose if you know of any lead-based paint hazards on your property. You must also provide a 10-day period, if not waived by the homebuyer, to conduct a paint inspection or risk assessment for lead-based paint hazards.
The home sale contract between you and your buyer will include an attachment regarding the lead-based paint hazards if any exist, and the buyers will be provided with the appropriate EPA-approved information pamphlets on lead-based paint hazards.
Our agents are thoroughly trained on the required disclosures. Call us to find out what disclosures you need at 757-466-1009!
Say hello to Suffolk living! Benefits of the country with the convenience of the suburbs! 2020 build features stainless appliance package, carpeted downstairs rooms, walk in primary closet and new vinyl fence. Low maintenance living, perfect for first time home buyers, downsizing or to add to a rental portfolio! Picture yourself living here and have your agent schedule your showing today before this one’s gone!
Come see this wonderfully built home. This home features a fully enclosed front porch perfect for sitting all year long. Two separate entrances to the front of the home offering the possibility to be turned into a duplex or separate access to the stairs leading to the second floor. Hardwood floors throughout the majority of the home, fresh paint and a new roof. Out back you will find a huge garage perfect for working in with 3 separate bays.
Come make this home your own! Great solid brick traditional ranch. Nearby the interstate. Home is on a flag lot with the house in the rear, providing privacy. Nice sized rooms. Does need updating and some work including new roof, gutters and a motor for the central air reported by owner. Excellent opportunity for a person with vision. Cash or rehabilitation loan only. Home sold as-is where is, seller to make no repairs.
This beautiful cape cod/ranch home is what you been looking for. So look no further! This lovely homes has 4 bedrooms with 2 bathrooms. Not to mentioned, a bonus room for a 5th bedroom or home office. Also practically all new luxury vinyl flooring, new front exterior door, new french doors, new stainless steel appliances & new hot water heater all replaced in 2021, new deck tread & stairs. Ceramic tile, a breakfast area, cathedral ceilings, 1st floor master bedroom w/ full bath, private and fully fenced in backyard. Newly HVAC in 2019, water softener, and fresh paint touch up throughout. All ceiling freshly painted. Awesome neighborhood w/ clubhouse, basketball court, and playground! Minutes away from interstates, schools, shopping, entertainment, restaurants & more! All showing by appointment only. Don’t miss this one!
Super cute ranch home with fenced lot in desirable neighborhood. 3 bedrooms, 1.5 bath, kitchen updated in 2019 with stainless steel appliances, granite countertops and large island providing plenty of storage! Large bonus family room. New LVT flooring, HVAC 2015, brand new roof installed 08/2021, crawlspace encapsulated 09/2021.
MOVE IN READY! 3 bedroom 3 full bath plus loft area, 2 story condo. 2 are Primary Bedrooms, 1 upstairs with full bath with double sinks and walk-in closest, and 1 downstairs next to a full bath. Lots of room in this condo at 1728 approx. sq. feet of space. Living room with Cathedral ceiling and Dining room area, plus eat-in area in kitchen, Laundry Room, and loft area can be used as a office. Oversized concrete patio out the back door. One car attached garage with additional parking in driveway and street. Convenient to shopping, bases and surrounding Hampton Roads area.
Your New Home Awaits You! Come Home to the Beautiful Belmont Park townhomes! This home offers everything your heart desires. Starting from the Front Area with a Nice cozy porch and private patio area. To the Gigantic Spacious Primary Bedroom with Vaulted Ceiling with Jacuzzi Tub and Large Walk-in Closet. Very Nice Eat-in Kitchen with updated appliances. The large Living Room & Dining Area with a Family Room to include a Gas Fireplace that leads to large sliding glass doors for Outdoor Family Enjoyment! WOW! A 1/2 bath as you enter from the Garage. Garage is insulated and finished with sheetrock. You just need your favorite color for a perfect extra living space. For easy commute, conveniently located near major highways, and shopping Center, Mall and other Local Entertainment.