Quick Weekend Projects to do This Spring

Spring is upon us earlier than usual this year.  Keeping up on home maintenance projects can be easy if you do a few every weekend or anytime you find yourself with a few moments to spare.

A few projects that take no time at all are:

• Replace the filter in your furnace - you will be all set next year when you flip the switch the heat to "on"
• Have a humidifier?  Switch it to the "summer" setting.
• Uncover your A/C unit.  Consider having a check up now before the first hot days arrive.  Not only will you be sure you will be cool during the sweltering days of summer but you will also likely be serviced faster in the spring when technicians are not as busy
• Clean up your grill.  Wash the outside with  warm, soapy water and brush grates with a wire brush.  If you use propane, check your levels and consider getting a back-up tank so you don't run out of gas while you are in the middle of grilling you summer favorites.
• Swap out snow shovels for rakes, spades, and clippers.  Lawn mowers move in place of the snow blower.
• Do you plan to mulch this spring?  Consider buying your mulch early and setting it aside for the sunny day that you have the time and energy to tackle the project.  Not only will you be ready to go when that day comes but likely you will have a wide selection to choose from before the masses hit the Garden Centers. 
• If you use a lawn service, contact them to go over your spring/ summer needs.

Waiting and Preparing for Closing

Now the wait to move begins!  Don’t worry; there is still plenty to do.  This is the time to secure your Home Owners Insurance. Most insurance companies require you to pay your first year in advance so you will want to be prepared for that.
You can also get started calling utility companies to let them know you will be moving and begin setting up new accounts.  Many communities offer at least two choices for major utilities like cable/ internet providers and trash collectors.  Use your time to shop around and make a decision on vendors who are right for you and your budget.  Also, think about other services you may require like lawn services and cleaning services. Consider researching retailers like dry cleaners, grocery stores, drug stores, gyms, and other frequently used services.  Taking the time to get to know your new community before arriving will allow you to settle in more quickly.
Start packing!  If possible, doing a little each day is easier than all at once.  Start packing items you seldom use first.  Now is agreat time to purge a bit and decide if you really want to move an item to your new home.  You may consider donating unwanted items to Charity. Otherwise, you can have a separate set of boxes where you can put items for a future garage/movingsale. 
Order your moving van.  Will you be using a major freight company or doing it yourself?  Get quotes, find out deadlines, and read the fine print.  Make a decision that suits your situation best.
By this point, you will be excited to make the move into your new home.  Be patient!  The day will be here before you know it.

Home Inspection and Waiting to Close

After the final acceptance of the Purchase Agreement is complete it’s time to schedule the home inspection.  I recommend that weare both in attendance for the entire inspection process.  It usually takes 3-4 hours and is well worth the time to insure that the purchase you are making is a sound one. The cost of the inspection is paid by you directly to the inspector on the day of the inspection. This fee is non refundable weather you move forward with the purchase of the home or choose to walk away based on theinspector’s findings.   
A home inspection is not required but highly recommended. Think of it as cheap insurance. Home inspections should be done using an experienced and certified home inspector.  If the inspector finds something of concern it can be discussed with the inspector and a determination can be made if the issue can be remedied or not.  After the inspection you can negotiate remedies to any issues with the sellers and their agent.  For instance a small examplemay be that you find a window that is broken.  You can negotiate that the window be replaced prior to closing. A bigger example would be a cracked foundation or a mold issue.  If the problem is so large or too costly to address, you can cancel your offer without a monetary penalty to you.  The seller can also agree to remedy all issues found during the inspection. Once completed to your satisfaction the inspection contingency is removed and the process moves forward.
My next post in this series will talk about all the things you can be doing while you wait to close.

Dreaming of Spring?

Usually around this time of year we are dreaming of warmer and greener days ahead.  We still have a bit of winter left but that does not mean you can't get ready for getting your garden on.

Homes in the West Metro like Minnetonka, Wayzata, Deephaven, and Eden Prairie are in close proximity to the University of Minnesota's Landscape Arboretum.  Aside from offering vast and stunning landscapes all year long the Arboretum also offers many events and classes to help gardeners of all skill levels.  This weekend, March 9-11, there will be a 3 day Spring Expo which will offer seminars on a large variety of gardening curiosities, tips, and secrets.

Visit their website today for more information and to sign up
http://www.arboretum.umn.edu/springexpo2012.aspx

Offers and Purchase Agreements

You found the home you want to buy.  Now what?
Time to make an offer!  Ultimately, what you wish to offer is entirely up to you, the buyer.  With that said, we will have a discussion that will help you come up with the number you wish to submit to the seller.  Of course, we will take a look at the asking price.  In addition, I will look at like kind comparable homes that have recently sold in the same community.  By looking at the sold prices as well as the positives and negatives of the comparable properties we can determine fair market value and choose your offer amount accordingly. You will also be able to request the date you wish to close on thehome.
After the offer is made, the seller will accept the offer, decline the offer, or come back to the table with a counter offer. This is the time that details are negotiated with the sellers and their agents.  For instance, do you want them to include the washer and dryer or finish an improvement project that is not quite done yet?
Once all details are ironed out the final acceptance of the Purchase Agreement is signed.  The next step is arranging for a home inspection…more on that in my next post.

The Search Begins

Time to go shopping!  You are now pre-approved and ready to start the search for your new home.  Armed with the information you gave me during our first meetings you can select which homes you wish to look at.  Iwill also have recommendations for you based on properties that I have scouted for you and think you may find interesting.  You can find homes online at my website www.mnhomesbymike.com
We will set up times to visit the homes you like and I will gladly drive you to and from the properties you wish to view.
Over time, it is easy to forget details about a given home depending on how many homes we visit and how long your search takes.  After a while, properties can all run together in your mind.  Because of this, I think that it is important for you to take notes about each home.  In addition, the camera on your phone can come in handy as a tool to help you remember key things you want to recall or ask about later. 
As your search continues, we will regularly reference the homes you see to the “Wants & Needs” list that you filled outduring our first meeting.  When you find a few homes that you are bouncing between we will discuss them in more detail and attempt to narrow down the field.  Finally, it is time for you to select the best property and make anoffer.
Check back next week for the nuts and bolts of making anoffer on a home.

Taking Care of the Money

Money.   You need to have it to buy a house and showing that you have it is essential in getting the attention of the seller if you decide to make an offer on their home.
Part two in the buying process is all about  morgtage application.  This can be a confusing and somewhat stressful topic (especiallyfor new homebuyers) to tackle on their own.  I find that having a discussion about what your financing needs are is really helpful.  Together we can discuss borrowing options that may be best for you.  If needed, I know some reputable Loan Officers who would be happy to help you with any of your financing needs.
Do your homework early and get your finances lined up priorto shopping for your new home.  Having a pre-approval letter in hand when making an offer shows that you are a serious buyer and are motivated to purchase. In addition, knowing what you can realistically afford before you start your search will keep you focused on homes in your price range and not waste your time on ones that are not.   
In addition to being pre-approved for a mortgage, you will also need enough cash on hand for your Earnest Money Deposit (also known as a GoodFaith Deposit). The amount varies by community and can be as little as $500, butis typically 1% to 2% of the offer price and could be more depending on the situation. Like the pre-approval letter, earnest money shows intent, which is important to the seller.   If the seller accepts your offer, your earnest money will be deposited into the Listing Broker’s trust account and will be applied toward the purchase price of the home on closing day.  If the seller does not accept your offer then your earnest money is returned to you. When the Purchase Agreement is fully executed by all parties to the transaction, it becomes alegally binding contract. At this point, if you recant your offer for no valid reason, in most cases, the seller is allowed to keep your earnest money.