Janet Cramb & Company/LAER Realty Partners



Posted by Janet Cramb on 4/10/2019

If you intend to buy a house, you may want to employ a home inspector. In fact, there are many reasons why a buyer may hire a house inspector, such as:

1. You want to identify any underlying home problems.

Although you may have walked through a house a few times before you submitted an offer to purchase, a house inspection allows you to receive comprehensive insights into a residence. Once you have a home inspection report in hand, you can assess any underlying house problems and plan accordingly.

A home inspection is conducted by a property expert who will analyze all areas of a house. Plus, you can attend an inspection and walk through a house with an inspector to obtain firsthand insights into a residence's condition. As a result, you can use an inspection to identify any underlying house problems before you finalize a home purchase.

2. You want to determine if you should follow through with your original offer to purchase.

A home inspection may reveal both minor and major issues with a house. Meanwhile, as a buyer, you will need to determine if you want to continue with your home purchase after an inspection. On the other hand, you may want to modify your initial offer to purchase or rescind your homebuying proposal following an inspection.

Ultimately, a home inspection provides insights into a home that you otherwise may have struggled to obtain on your own. You also can ask a home inspector to address any concerns or questions about a house following an inspection. And when you have a home inspection report in hand, you can review the results of this report to determine if a house is right for you.

3. You want to make the best-possible homebuying decision.

A home purchase likely is one of the biggest transactions you will complete in your lifetime. Thus, there is no need to cut corners as you try to accelerate the homebuying journey. Because if you forgo a home inspection, you could suffer the consequences of this decision in the near future.

When it comes to purchasing a home, it helps to gain as much information about a residence as you can. Thanks to a home inspection, you can use a wide array of information to analyze a house. With this information at your disposal, you can make the best-possible homebuying decision based on your individual needs.

As you navigate the homebuying journey, you may want to employ a real estate agent, too. In addition to helping you find your dream residence, a real estate agent will guide you through the home inspection process. He or she first will help you find a qualified inspector to analyze a house you want to buy. Furthermore, a real estate agent will attend a home inspection with you and help you assess the results of a house inspection report.

Ready to complete a successful home purchase? Conduct an inspection prior to completing a home purchase, and you can obtain the insights you need to make an informed homebuying decision.





Posted by Janet Cramb on 3/20/2019

When you put your home up for sale, it can be an emotional time. You need to say goodbye to a place where you have lived for at least a small portion of your life. You created memories in that home, and now, itís the job of a new family to make new memories. 


Once the home is well on its way to being sold, there will be an appraisal of the property. Itís scary as a seller to think that the appraisal has the ability to actually halt the entire sale of the home. It can be a confusing process, to say the least, to have your home appraised. You have determined your listing price and received an offer on the home already. It seems like backtracking to value the home after this part of the sale process is complete. 


The Appraisal Removes The Tension


The appraisal is one of the factors that bridges the worlds of the buyer and the seller. As a seller, the things that you think add value to your home may not be all you have hoped them to be. As a buyer, you want to be sure that youíre paying a fair price for the home. Below, youíll find some common myths about home appraisals and the truth about them. 


The Appraisal Is Not The Same As An Inspection


The home inspection is used as a tool to protect the buyer. Although the appraisal is used as a protection for the buyer, the two are separate entities. The inspector looks at everything in the home that can be a problem including leaks, cracks, and faulty electrical systems. The home appraiser is simply meant to find the objective market and the estimated value of the home in that market.


The Appraisal Isnít How Much The Buyer Will Pay


While the appraisal gives a good estimate of the value of a home, it doesnít take every single factor into account. Itís one version of how much the home should be priced at. What the appraisal does affect is the contract on the home. 


If the appraisal doesnít match the contract price, letís say that the home is appraised lower than what youíre paying for it, the lender will not make up the difference. It can become a discussion between the buyer and the seller to see who will pay for the additional uncovered cost of the home. The buyer can pay the difference themselves. The seller may decide to cover the difference themselves. Either way, this is where the home buying process can get kind of messy.


Bigger Homes Donít Necessarily Appraise For More Money


Just because a home is bigger, doesnít mean that itís worth more than the smaller home next door. A larger home could have issues with age such as an older roof, or less complex fixtures. If a smaller home is more updated, it very well could appraise for more. Donít count on the square footage to dictate the appraisal price of a home.




Tags: Buying a home   appraisal  
Categories: Uncategorized  


Posted by Janet Cramb on 1/16/2019

Do you ever wish that they taught a class in high school called, ďThings Youíll Actually Need to Know In Life?Ē Youíd learn how to prepare your taxes, what investing is, and how to buy a home.

Unfortunately, all of these important life lessons tend to be self-taught; you pick them up along the way and learn from your mistakes.

However, it neednít be that way. Our goal today is to give you an accurate idea of what to expect when youíre buying your first home. Weíll go over a typically home buying timeline and discuss how long each step can take. This will give you a better idea of how long it will take to close on your first home.

Step 1: Build credit and save for a down payment

Estimated time: 2+ years

The first step of buying a home is to make sure youíre financially secure enough to do so. While there are ways to purchase a home with low or no down payments (See FHA, USDA, and VA loans), generally itís wiser to wait until you have a sizable down payment saved. This will save you money in interest and mortgage insurance in the long run.

Next, youíll need to start working on your credit. If your credit score took some hits due to late payments when you were younger, now is the time to start fixing those mistakes by making on-time payments and paying off outstanding balances.

Step 2: Have a plan for the next phase of your life

Estimated time 6+ months

One of the most important, and least talked about, parts of buying a home is understanding what it means to own a home. If you have a spouse, partner, or family, youíll need to be in agreement that youíre prepared to stay in one place for the next 5 or more years.

Buying a home is expensive and you wonít want to go through the process of closing on a home if you arenít sure youíll stay. This means making sure your career wonít bring you elsewhere in the near future.

Step 3: Get prequalified and preapproved

Estimated time 1-3 days (depending on how much initiative you take)

Getting prequalified for a mortgage takes minutes. You simply fill out an online form and the lender will give you an idea of the type and size loan you could qualify for. Be forewarned: theyíll also use this information to call and bother you about getting a mortgage from them.

Once youíre prequalified, itís just a matter of working with the lender to provide the correct documentation for pre-approval.

Getting preapproved takes a bit longer (1-3 days), since it requires a credit check and some work on your part--namely, gathering and sending income verification.

Once youíre preapproved, you can safely start shopping for homes without worrying that youíre wasting time looking at homes that are overbudget.

Step 4: House Hunting

Estimated time: 30+ days

Itís a sellerís market. So, if youíre buying a home right now there is competition out there. Youíll need to dedicate a substantial amount of time to researching homes online, contacting sellersí agents, and following up on calls. Like before, the amount of effort you put into this process determines how quickly and smoothly youíll get through it.

Step 5: Making an offer and closing

Estimated time: ~50 days

Average closing times for buying a home has grown to 50 days according to a recent study. However, by securing financing ahead of time and acting quickly, you can drastically cut down the time of these process to as little as two weeks.




Categories: Uncategorized  


Posted by Janet Cramb on 12/12/2018

Buying a house is never a simple decision. Aside from all of the financial aspects of purchasing a home, there are numerous life-related considerations youíll need to think about. So, it comes as little surprise that diving head on into the house hunting process can be stressful and taxing to the home buyer.

With all of the different numbers to keep track of--a down payment, closing costs, credit scores, interest rates, and so on--itís easy to get lost in the finer details of your budget. This can lead to even more stress as you try to navigate your way through getting approved for a mortgage and shopping for the perfect home.

In this article, weíre going to give you some tips on how to maintain your budget and reduce stress throughout the home buying process. That way, when you do finally find the house youíve been waiting for, youíll be able to move forward confidently.

Trust the process

Many first-time home buyers enter the real estate market with little knowledge or experience of how things work. Any newcomer to such a huge and complex industry is bound to be flustered with all of the different options available to them.

However, much of the home buying process is relatively standardized. Real estate agents all make roughly the same commission, lenders use similar algorithms to decide how much of a loan youíll be approved for, and real estate contracts contain legal safeguards and contingencies to ensure that you and the sellerís interests are protected.

When shopping for a mortgage or getting pre-approved, itís a good idea to ask friends, family, or read reviews online to find someone you know you can trust. From there, rely on the experts to lead you through the process.

Have a long-term plan

Much of the stress and anxiety around buying a home comes from the uncertainty of the future. Sitting down with your family and significant other and deciding your long-term goals for homeownership is a good way to build confidence and know that youíre making the right choice.

Determining things like location, the number of years you want to live in a home, and what priorities are the most important (school districts, neighborhood safety, etc.) will help you make that plan a reality.

Use the tools at your disposal

If youíre reading this article, you already have started to take advantage of one of the most important resources you have, the internet. Look up real estate terminology youíre unfamiliar with, read up on the different types of mortgages, and take advantage of free online calculators to create what-if scenarios to find out what you might end up paying in closing costs and interests.

Itís also a good idea to check your credit score for free online. You can check your official reports once per year, but for simple credit checks you can look it up each month for free.

Knowing that youíre in good hands with a lender and agent, that you have a basic understanding of industry terms, that you have a long-term plan, and that your finances are in order will all help set your mind at ease and give you confidence as you move forward toward homeownership.




Categories: Uncategorized  


Posted by Janet Cramb on 11/21/2018

When your family is searching for a home, itís an exciting time for the adults, but if there are children involved, it can be a difficult task. Children donít have to be left in the dark during a home search. Children of all ages can be involved in the process of finding a home. Read on for tips on how to make your kids feel a part of the home search process. 


Young Children


Preschool-aged children might seem not to be aware of the fact that your family is searching for a home, but they can still very much be a part of the process. One thing to remember about young children is that you shouldnít give them too many options. Once you have narrowed down the homes to a few and the time to buy a home is close, itís a good time to tell your toddler about the fact that youíre moving. While you probably donít want to take your kids along with you on all of your home viewings, you can bring the children with you. Even the opinions of the tiniest among us can help contribute to a final decision. 


School-Aged Children


Older children may be more challenging to deal with during a move. These kids are more aware of the changes to come and maybe more reluctant of the entire process. Itís best to include children this age (around 6-9 years old) in conversions about your plans. Where do you hope to move? What neighborhood will the home be? Show them pictures of potential new homes. Allowing kids this age to share their thoughts on location and the types of houses youíre looking at can help to ease fears and anxieties. Remind your kids that the final choice is up to the adults but that you appreciate and welcome their input. 


Older Children And Teenagers 


Pre-teens and teenagers can play a part in the house search. Make sure that they understand that thereís no pressure on them to pick a house but their input is essential to you. Teens are tweens should be encouraged to come along on house tours to help give an opinion on the properties in person. 


The older the kids that are involved, the more you should value and welcome your input.  Make sure that you reassure your teens, letting them know that they can continue their favorite activities. Do a little research on the new community first, or allow your kids to do a bit of research themselves.                     





Tags: Buying a home   children  
Categories: Uncategorized