4 Things You Need to Know about Seller's Property Disclosures

If you're in the process of buying a home, you're probably familiar with a Seller's Property Disclosure (SPD). It's exactly what it sounds like--a legal document that the seller fills out to disclose any known defects that may negatively affect the value of the home (such as known termites, leaking roofs, flooding, pets, and even deaths in the home). Similarly, the SPD can also include any work and upgrades that may positively affect the value of the home. Here's what you need to know:

1. Seller's Property Disclosures are extremely important--for both the buyer and the seller. The buyer must (carefully!) review & sign the SPD when submitting an offer. The exception, however, is foreclosures or bank/corporate-owned homes. These homes will typically not have a Seller's Property Disclosure, as these sellers cannot make any guarantees about the condition of the property.

2. Seller's Property Disclosures are readily available for EveryHome agents to access. Interested in seeing one for a home you like? Just ask us.

3. Seller's Property Disclosure requirements vary by state and county, but sellers are generally obligated to disclose everything that they know. Unfortunately, a lack of proper disclosure can lead to messy conflicts down the road.

4. Seller's Property Disclosures are very different than home inspections. Generally, the sellers do not have the knowledge of a home inspector, and therefore an inspection can reveal quite a bit more than a SPD. We always recommend making any purchase contingent on a satisfactory home inspection.

Rent to Own

   If you’re interested in purchasing a home in the near future, but just aren’t quite ready financially, renting-to-own may be for you! While the terms can vary greatly, rent-to-own agreements typically involve a standard lease agreement, in addition to a future purchase date to allow the buyer to purchase the home. This settlement date is generally between six months and two years from the date of agreement. To ensure fairness for the seller, the buyer may be asked to provide a nonrefundable deposit to ensure that they are serious about a future purchase.

                Renting-to-own can allow you to save money, build your credit score, or establish job security while living in your dream home. Plus, sellers typically welcome home inspections prior to you moving in, so you can ensure the condition of your new home.

                Only a fraction of homes on the market are available for rent-to-own, but sometimes sellers are willing to consider it if there home isn’t selling as quickly as they’d like. If you are interested in renting-to-own, give mea call at 267-838-4005. I’d love to help.

The Benefits of A One-Year Home Warranty

         Home warranties are designed to provide buyers with peace of mind, but there are often a lot of questions surrounding how they work. In a nutshell, home warranties provide coverage for appliances and system in your new home by either repairing or replacing them. Typically, home warranty coverage is purchased in one-year increments, and there are a variety of coverage levels.

          It can be a good negotiating tool for after a home inspection, especially if a home inspector finds that some appliances are toward the end of their life. In a competitive market, sellers may offer these home warranties to prospective buyers as an added incentive.

           If you’re in the market to buy a house and would like a home warranty, be sure to talk to your EveryHome agent. He or she can ensure that you will be provided with a comprehensive home warranty from a reputable company.

Source: Everyhome.com

Million Dollar Real Estates for Sale around Bryn Athyn

I thought it is always fun to look at the most expensive homes in the hood. Here are couple of them for my followers. Click on the links for more photos.

Huntingdon Valley

25 photos Huntingdon Valley Huntingdon Valley PA 19006 Lower Moreland Township Lower Moreland Township School District Montgomery County

Asking Price $2,600,000 Cash@Closing™ $18,320 Bedrooms 5 Full Baths 6 Partial Baths 5 Interior Sq Ft 16130 Acres 5.43 Age 17 Heating Gas Heat Fireplaces 3 Cooling Central Air Water Public Sewer Public Garages 4 Basement Full Finished w/OE Taxes (Year) 58216 Association No Pool In-Ground

Listing Courtesy Quinn & Wilson Q

21 photos Huntingdon Valley Huntingdon Valley PA 19006 Lower Moreland Township Lower Moreland Township School District Montgomery County

Asking Price $2,375,000 Cash@Closing™ $13,940 Bedrooms 5 Full Baths 5 Partial Baths 3 Interior Sq Ft 6372 Acres 1.84 Age 7 Heating Gas Heat Fireplaces 3 Cooling Central Air Water Public Sewer Public Garages 3 Basement Full Finished Taxes (Year) 23078 Association No

Listing Courtesy Weichert Realtors-Jenkintown W

25 photos Brentwood Huntingdon Valley PA 19006 Lower Moreland Township Lower Moreland Township School District Montgomery County

Asking Price $1,499,999 Cash@Closing™ $10,560 Bedrooms 4 Full Baths 5 Partial Baths 1 Interior Sq Ft 6233 Acres 1.76 Age 213 Heating Oil Heat Fireplaces 3 Cooling Central Air Water Public Sewer Public Garages 3 Basement Partial Taxes (Year) 19199 Association No Pool In-Ground

Listing Courtesy BHHS Fox & Roach-Center City Walnut P

25 photos Long Lane Farms 1 Huntingdon Valley PA 19006 Lower Moreland Township Lower Moreland Township School District Montgomery County

Asking Price $1,450,000 Cash@Closing™ $10,210 Bedrooms 6 Full Baths 4 Partial Baths 1 Interior Sq Ft 6641 Acres 1.29 Age 28 Heating Gas Heat Fireplaces 3 Cooling Central Air Water Public Sewer Public Garages 2 Basement Full Taxes (Year) 16245 Association No

Listing Courtesy Wynn Real Estate, LLC W

25 photos Huntingdon Valley Huntingdon Valley PA 19006 Lower Moreland Township Lower Moreland Township School District Montgomery County

Asking Price $1,395,000 Cash@Closing™ $8,180 Bedrooms 4 Full Baths 4 Partial Baths 1 Interior Sq Ft 4580 Acres 1.04 Age 16 Heating Gas Heat Fireplaces 2 Cooling Central Air Water Public Sewer Private Garages 3 Basement Full Finished Taxes (Year) 15399 Association No

Listing Courtesy BHHS Fox & Roach-Southampton P

14 photos Inverness Huntingdon Valley PA 19006 Lower Moreland Township Lower Moreland Township School District Montgomery County

Asking Price $1,199,000 Cash@Closing™ $8,440 Bedrooms 4 Full Baths 3 Partial Baths 2 Interior Sq Ft 4200 Acres 1 Age 0 Heating Gas Heat Fireplaces 1 Cooling Central Air Water Public Sewer Public Garages 2 Basement Full Taxes (Year) ? Association $750 / A

Listing Courtesy Weichert Realtors-Jenkintown W

Home Sale Contingencies 101

Buying a new home while selling your current home sounds like it can be confusing, but it doesn’t have to be! Typically, folks in this situation put their home up for sale once they scope out the market and get their financial ducks in a row. Once their home is on the market, they begin to seriously look at new houses and (in a perfect world) they put an offer in on a home when they get an offer on theirs.

Of course, sometimes it’s not always this easy. Maybe you’re struggling to sell your house for the amount that you’d like, or maybe there aren’t any homes on the market that you’d like to purchase. A home sale contingency is one solution.

Here’s one common scenario: You just put your home up for sale, and your “dream home” pops up on the market. Its priced well, its move-in ready, and you just know that it’s not going to last on the market for very long. But you haven’t had any offers on your home yet. So what do you do? A home sale contingency is one option. When you submit an offer on a new home, you may elect a home sale contingency stating that you must have your home under contract before a specified date, otherwise the contract is null and void (and your deposit money remains intact). The catch? The sellers may have the right to continue to market their home, but you will have the right of first refusal should they receive any serious interest.

Some lucky ducks don’t need a home sale contingency, because they may be in a financial situation that permits them to secure a mortgage without having to sell their current home. Of course, nobody enjoys paying two mortgage payments…but it might allow you a little extra flexibility time-wise. As always, ask your lender or EveryHome agent for the most personalized advice.

10 Quick Tips for Showing your home

  10 Quick Tips for Showing your home

1. Clean Everything
2. Maintain the Exterior
3. Brighten Rooms
4. Make Repairs
5. Remove Personal Property
6. Remove Pets
7. Paint Neutral
8. Organize and De-Clutter
9. Hire a Home Inspector
10. Disclose Everything

Final Day of the Contest! Good Neighbor.

 Do you know of a local community member who has gone above and beyond to make our neighborhood a friendly, safer, and more pleasant place? Nominate him or her for a chance to win $100 Visa gift card in EveryHome’s 2013 Good Neighbor Contest…and a chance to score a $20 Starbucks gift card for you!

  Send us a note to volkan.andic@everyhome.com with a brief description of your nominee’s good deeds, along with your name and contact information. We’ll announce the winner on Facebook on December 15th. Thanks for helping EveryHome make our community an even better place, and good luck!

  Details: Contest is open to all Pennsylvania and New Jersey residents. EveryHome agents and their immediate family members are not eligible to enter. Only one nomination per person, please. All entries must be received by midnight on December 11th, 2013.