Title Problems for Sellers

pexels-photo-259597When a property is getting ready to go on the market. The listing agent will pull a preliminary title report with his or hers preferred escrow company. Once the prelim has been received, the title company and realtor can see any liens and judgments that is attached to the property. When the home is sold ,the buyers lender and escrow company must provide free and clear title to the new homeowner. The buyer will not be able to obtain financing for the property if there is a cloud on the title.

Here are the most common liens or judgments that can cloud title:

  • Property tax liens

When a home owner fails to pay their property taxes this lien will become in first position over the mortgage lien.

  • Federal and State taxes liens

When unpaid federal or state income taxes aren’t paid that can sometimes lien the property. The most important item is to obtain a pay-off sheet from the IRS noting that the liens were paid in full. The title company will require this for recording.

  • Judgment Liens, Child Support, and Alimony Liens

This is the most common that I have seen on a sale. Multiple child support and alimony liens can attach to the property as well.

  • Contactors Lien or Mechanics Lien

This lien occurs when the homeowner hired a licensed and bonded contractor to do the work and never paid them. The contractor can lien the property for the amount that was owed.

In some cases, the escrow company can do a ‘’escrow hold back”.  Meaning that the proceeds from the sale of their home will pay off any existing liens and or judgments. Every property and client are different so it important to have an experienced agent and escrow officer that can help the home seller through this process. I personally have experienced all of them. Let me know how I can help you navigate the selling process.th

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Trends in Kitchen Lighting

AGENT-CRATE-2The kitchen has always been the most important room in the home. A warm, inviting space which invites family and friends to gather and linger over great food and conversation is all about the styling and design. Lighting is a great way to add interest and ambiance to your kitchen areas. Here are the hottest trends in kitchen lighting in 2018.
LED Lights
The advantage of LED lighting is that they are incredibly flexible and can be used in a wide variety of fixtures and locations.
Natural Materials
As in other areas of design, natural elements are headed to the lighting section. Beautiful
woods, rope, burlap and other materials are now being used in lighting fixtures to add interest and warmth.
Groupings
Pendants lighting has been a kitchen staple for years, but now they are being clustered
together to become a design element of their own.
Shapes and Shine
Sleek orb-like shapes are appearing in contemporary design plans. These beautiful lights are using crystals, beads and metal to create bright, shiny pieces. Chandeliers are also becoming a common sight in today’s kitchens, adding an element of glamour to the space.
Lighting is essential for design. From warm tones to bright sparkle, the type of fixture your use will set the stage for a kitchen which suites your style and lifestyle.

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Cash is King

 

Cash is king or is it really? The majority of my buyers  have been all cash lately. Do they really have the advantage over an offer that is financed?  Not necessary. Many sellers have been more inclined to accept a higher offer that is financed over a lower offer that is all cash. Sellers now are deciding that it might be worth the risk in taking a higher financed offer because it comes to them all cash in the end anyways.. I know many cash buyers would tend to disagree with this, but I have found this to be true in many circumstances.

Buyers that are pre-approved with a lender prior to writing an offer have already gone through the hoops of what the under writers are needing to get final bank approval. Meaning they are already well qualified and the odds of a sale fail due to financing would be pretty minimal.

Many buyers that are all cash with all the funds in the bank are wanting to find the best deal possible deal (which is true with all buyers) but  especially with all cash buyers. So when they go to write an offer it usually is less than the asking price. The advantage to a seller with an all cash offer is that there is no financing contingency and the closing date is shorter. So if the house is sitting vacant and the seller has another mortgage on another property then a short closing date would be more favorable to the seller.

In short, cash might not look that great to a seller if the price doesn’tImage meet the bottom-line. It might be worth their time to get more money and wait longer on the closing than a lower price cash offer. 

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Out of town buyers find the perfect home in Beaverton

Many people come through my website searching for real estate all over the Portland area. I received a lead one morning and I promptly responded to their questions and started helping them with their new home search.  They are a husband and wife and they have two small girls. Since they were relocating from Syracuse, New York they wanted to find a home in the 400-500k range near Intel in Hillsboro.  So I began my search and after months of sending them properties they contacted me to go visit a listing in the Century High School District. This particular property had all the wonderful interior features that they wanted but the backyard was extremely small. In the Syracuse area where they lived prior to moving here, they have much larger plots of land.

I decided to extend their home search into areas that have larger lots. We first looked at a NW Portland home that had recently been updated. Unfortunately,  the large hills in the neighborhood wouldn’t work well for their two girls to ride their bikes and play with friends.  We saw a couple homes in the Beaverton area, but the husband was concerned with the commute from Hillsboro to Beaverton.  I recommended that they drive to and from Hillsboro during rush hour. It turned out to be only a 25-30 minute commute from this specific part of Beaverton into Hillsboro. With the commute in mind, we visited a beautiful remodeled property on Cooper Mountain. It had all the features that they were looking for but most importantly it had a wonderfully large backyard. The yard had a three tier deck from the back patio, mature fruit trees and flowers, bark dusted fenced playground for the girls and lots of green grass.

They are so excited about their new home purchase and will be sending me photos once they move in. I truly enjoy helping buyers find the perfect home that fits their family’s lifestyle. Thanks for reading my blog and please visit my client testimonials page to hear from all of my happy past clients.

Andrea Storm, Principal Broker, JMA Properties

503-705-7024
-Agentandreastorm@gmail.com

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Choosing a Home Inspector

Many of my clients ask me for referrals for qualified home inspectors that I have used in the past. I always give my clients a choice of three different home inspectors that my previous clients have had success with. If they decide to find their own, this is the advice I like to give them when looking for a qualified home inspector. This is a crucial decision; there are some many aspects of the home that need to be fully inspected to insure that they are purchasing a sound property.

What are the inspector’s qualifications?

The National Association of Home Inspectors is a great resource to find out the background of the inspector and other involvement within the industry.

What is their experience? Do they specialize in residential inspections?

It’s important to know what the experience level of the home inspector is and how long they have been in the industry.  Always ask how many inspections they have performed and how long they have been in business.

Do they provide a detailed report after the inspection?

Having a detailed report from the inspector is an excellent resource to have when asking for repairs from the seller.  The report can be used as a reference to what repairs are needed to be completed before the close of escrow. I always recommend my clients be at the inspection. You don’t have to crawl into the crawl space with them! Just be present in case you have any questions.

Written by:

Andrea Storm

Principal Broker

JMA Properties

Agentandreastorm@gmail.com

503-705-7024

Client Testimonials

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Best deals under 200k in Beaverton

Are you looking for the best bang for your buck? With housing inventory decreasing its getting harder to find the best deal in Beaverton. Check out these homes for sale under 200k in Beaverton.

Homes for sale under 200k

Andrea Storm

Principal Broker

JMA Properties

503-705-7024

agentandreastorm@gmail.com

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New construction is up this year. This is excellent news for the Portland areas real estate market.

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Home Prices Increase by 4.5% in July/August 2012

In the months of July and August 2012, home prices have increased by 4.5% in the Portland metro area.  3.2% increase nationally from during the same period of time.  There has been a value increase in higher end homes more than lower end homes.

“Home prices are responding positively to reductions in both visible and shadow inventory over the past year,” CoreLogic chief economist Mark Fleming said. “This trend is a bright spot because the decline in shadow inventory translates to fewer distressed sales, which helps sustain price appreciation.”

Source The Oregonian

Andrea Storm

Principal Broker

JMA Properties

503-705-7024

Agentandreastorm@gmail.com

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Check out my new website at washingtoncountyhomes.com

Welcome to my new website. My name is Andrea Storm and I am a real estate professional with JMA Properties.

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