Jim Valentine on Real Estate
Things of consequence occur every day in the real estate business and most have consequences involving time and/or money. It helps your peace of mind and bottom line if you plan your transaction to make sure that things work to your best interest.
One thing is to be sure there is enough time to get your homeowner’s association documentation in a timely manner without paying an expedition fee. That isn’t a charge for then to go hunting for the documents, rather a surcharge to expedite the documents. This cost can be $150 and isn’t necessary for a regularly timed escrow. If they can’t deliver in the legally required manner at a regular fee then maybe your HOA should look at getting a new management company.
Some management companies also charge an excessive fee for the basic resale package. We just had a company charge $150 to see if the property being sold is “in compliance.”
Wait a minute! Shouldn’t they have been paying attention to the properties all along and know if someone isn’t in compliance as part of their normal duties? $150 to drive by and see from the street if they are in compliance – how do they see the rooster and baby calf in the back yard? Ridiculous charge in our opinion!
The problem with this type of situation is that it only affects those selling and that happens one at a time. Until they are themselves faced with a ridiculously high charge they won’t pay attention to it. Check with your HOA and find out what the fees are now rather than when you decide to sell.
Mobile notaries are frequently being used by people that live out of the area, or aren’t too mobile, to sign their transaction documentation. There is a surcharge, but if you need/want it the charge isn’t excessive and the convenience worth it in most cases that opt for it.
We’ve had vacationers in remote areas meet a mobile notary so they don’t have to interrupt their vacation or delay their closing. You may be able to avoid the charge, however, if you plan ahead and coordinate with the escrow officer to sign when convenient for you.
Often you can save money on your inspections by paying at the time of the inspection instead of having them submit an invoice to escrow. That can save you $25-50 for a physical inspection depending on the size of the house and inspector. A similar savings can be had if you get things done early enough so as to avoid high FedEx fees to get the documents moved around. If you need a wet signature for your Deed or Deed of Trust, have it sent via email, print it, sign and notarize it and send it back via U.S. Mail or FedEx at a reduced cost.
Having a good handyman available can be important for a seller that has to make repairs. Some repair items require a contractor, but there are many things that can be mitigated by a handyman for a fraction of the cost. Having a handyman do a few things before you come on the market could help you get a higher price sooner. They can include a little paint touchup, grout work in the bathrooms and on the roof, etc. Small but impactful.
Savings of $50 to $150 throughout the transaction can add up to a significant amount. By being smart about your timing and how you do things you can save $1,000 to $1,500 fairly easily. If nothing else, celebrate with a closing dinner date and a special memento memorializing your new home purchase, or the sale you both wanted so much to be able to move on in your life. You worked hard in this market to find a home and contract it, stay in the work mode and save yourself time and money.
A NASCAR driver once said, “It’s the itty bitty things that separate second from a champion!” Pay attention to the details and you will benefit immensely in many ways. Its your home, your money and your time. Value it wisely.
When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704. Email dpwtigers@hotmail.com
