Tuesday, April 22, 2014

Home Inspection Checklist: Four Common Mistakes During A Home Inspection

Home inspection is an essential step for every homebuyer. During this phase, the buyer gets to learn about all the positive and negative aspects of the property he or she is eyeing to buy. The result greatly influences his or her decision to pursue with the purchase, negotiate or opt out altogether.

What Are The Common Mistakes During A Home Inspection
Learn the common mistakes committed by homebuyers during a home inspection.

Here is a quick guide so you’ll be equipped when it’s your turn to do it on your future house.

1.       Dismissing new constructions. Just because it is a new house for sale in the Philippines does not automatically mean everything is in good shape. Do not make assumptions and just forego the process without thoroughly checking the Philippine property. Remember that passing local ordinances and municipal building inspections do not necessarily equate to zero defect. You surely wouldn’t want to be surprised later on when you find out that there is a need for a major repair after all.

2.       Hiring an inspector to attend on your behalf. Another frequent error most buyers commit is putting their trust on a professional without seeing the condition of the residence with their own eyes. They only rely on written reports and analysis to guide them through the purchase. They either do not have the time to attend personally or perhaps they are under the impression that their presence is not actually necessary. Avoid this blunder and take the initiative to accompany your guy so you can witness what’s working and what’s not… first-hand.

3.       Going for the cheapest alternative. Why waste a good amount of money when you can enlist the help of your friend or a relative to do the inspections? Or why not employ a company that offers very affordable services? Surely it wouldn’t be listed on the yellow pages if it is just a scam, would it? Wrong! Remember that this is one of the biggest financial decisions you’ll have to make in your life. Do not fall short just because you want to save some extra cash.

4.       Not weighing all the costs. You ignore the inspector’s recommendations because it means bigger expenditure on your end. You presume you can do the repair by yourself with lesser cost. Never underestimate nor overestimate each issue you’ll find. Listen what the professional has to say. Assess the good, the bad and the ugly and decide from there.

Thursday, April 10, 2014

Selling Your House: Preparing It For A Sale

Selling your house can be a daunting task that can often be met with one very worrying challenge: making sure the house is and stays clean while your family is still living in it so that viewing can go as planned. Fortunately, if you are selling your house during warmer seasons, between the months of February to May, it is easier to clean the house and make it more attractive for viewers.

In the country, land is still more valuable than having a prebuilt house, especially in the countryside. You can easily get a sign for lot along the rural countryside while a house for sale in the Philippines is easier in urban areas like in Metro Manila.

If you are selling your house, here are tips to prepare it for selling:
  • Start from the outside going in.Most potential buyers just cruise along potential houses. If they are drawn and attracted by your house from the outside, the more possible that they will call and schedule in a viewing. Make sure that you have a clean yard, functioning gates for security or even an updated paint in your walls. You don’t need to spend if there is no money but buyers would like to get the impression that the house is well-maintained.
  • Clean your house from a viewpoint of a potential buyer.When you clean or rearrange your house, get impersonal. You need to put yourself in a buyer’s perspective and look at it from a viewpoint on what a potential buyer wants to see in a potential house he might want to buy.
  • Take advantage of online selling sites and word of mouth.Sure you can put up a sign saying that the house is for sale but sooner or later you would need to advertise. You can take advantage of buy and sell sites that allow sellers to post for free given a time period. You can also ask your relatives and friends to spread word around that you are selling the house.
  • Get a realtor.A real estate agent may not be in your plans but he can make selling the house so much simpler not to mention easier and faster. If you're on the fence about whether you should try a for-sale-by-owner approach or count on a pro, take a moment and consider if this is really a task you're up for. You don't have access to the same buyer base, you're probably not fluent in all the laws, and do you really want to spend every spare moment negotiating with buyers? A relationship with an agent can make selling your home faster, easier and probably even get you a better price.

Wednesday, April 2, 2014

Home Inspection Checklist: Five Tricks To A Smooth Home Inspection

Home inspection is a process normally performed prior to buying a house. During this time, every aspect and feature of the structure are being evaluated so as to paint a clear picture of its current condition. For the most part, it requires critical eye and keen observation so that issues such as leak, plumbing and electrical defects, roof and foundation-related problems will not be missed just before the deal is closed.
How To Conduct A Smooth Home Inspection
Identify the secrets of successfully inspecting your future residence. Below are five tricks to help you out.

1.       Decide if you are going to hire a professional. Just like enlisting the help of a stager is a choice, so is a home inspector. This is optional for all future homebuyers. Frequently though, many would choose to hire one as house inspectors have the knowledge and training to classify what critical items require urgent attention. They could easily spot the damages too which a usual buyer may tend to overlook. Assess then if you’d rather DIY (Do-It-Yourself) or employ technical assistance. Weigh the pros and cons. Be present the entire time so you’ll know what’s going on right there and then.

2.       Be systematic. A checklist itemizing the areas that need thoroughly checking would be a great help. Have a pen and notebook ready so you could take down notes after an item is checked off. In the case of prospective condominium buyers, one example is to determine if the A/C system of the Philippine condo you’re eyeing to purchase is centralized or not. 

3.       Do not be quickly discouraged with the results. A few flaws do not necessarily equate that you have to reject it right away. Communicate with the current homeowner for a desirable workaround – lower selling price, contingency clause, cash settlement. Learn the art of negotiation.

4.       Ask anything and everything about the Philippine real estate property. Do not hesitate on being vocal with your questions – what’s the history of the house, how long has it been up, how does this particular heating system works. Put all your concerns together and share them with your inspector, if you’re hiring one.

5.       Have more than one person inspect the residence.  Regardless if you’re taking on the service of a professional or you’re doing it on your own, have a friend, family or relative accompany you so you’ll be guaranteed of a second opinion.