Step-by-step 7 point checklist sellers can use to prep their home for sale

If you’re planning to sell your home located in Bergen County’s Paramus or Leonia or in Hudson County’s Guttenberg or Secaucus, you need to consider some serious steps before you place your advert in homes for sale in Bergen County Or Passaic county NJ or houses for sale in New Jersey category. Remember that potential buyers are more interested in a home that is neat, uncluttered, clean, airy, fragrant, quiet and in good shape. Here’s a seven point checklist that you should use to make your home more welcoming and attractive.

 

  • Everything is cleaned: Cleanliness signals a buyer that your home is actually cared for and most likely is in good repair. So, dust the fan blades and top of fireplace mantle, polish the faucets and appliances and wash the windows thoroughly. If you don’t have enough time for all these, consider hiring a professional agency that’ll do the job for you.
  • It’s uncluttered: Potential buyers always want to focus on how stunning your home is instead of its messy look. So, remove the piles of shoes from your entry, heap of mails from your table to reveal your property’s actual gorgeous features before putting a placard that says need to sell my house in Bergen County NJ outside your home.
  • It’s well maintained: From the time you place an advert that states ‘I want to sell my property quickly’, keep your lawn scythed, gardens weeded, shrubs trimmed and rooms spotless irrespective of whether your home is in Bergen County or Hudson County.real-estate-1686332_960_720
  • It’s flawless: Inspect your home meticulously with the eyes of a buyer. Rectify the egregious flaws from repainting drab walls, oiling creaky hinges to repairing cracks in the walkways.
  • It’s filled with fresh air: Buyers are usually most offended by odors coming from pets, cooking, tobacco, and sour or musty laundry. Get rid of all these to provide the buyers with a familiar and pleasant experience. You can use potpourri and fresh flowers to make the home fragrant.
  • It’s well-lit: Before you put up your home for sale in Teaneck and Clifton real estate category, remember to make your home well-lighted. Open the blinds, raise the shades and put brighter bulbs in the lamps. Remember that open and bright rooms provide a larger feel and are more inviting.
  • It’s ready to show: Now when you’ve got a potential cash buyer in New Jersey, be ready for the showing. Display bowls of fruit or fresh flowers, open the drapes for a homey smell and keep the pets away.

 

Follow the points on this checklist and start negotiating the price with prospective buyers you’ve obtained from your Teaneck house for sale advert and try to make the most out of the negotiation to sell your property quickly. (201)472-3554

 

Strategies to deal with tenant problems

If you’re planning to rent out your house located in Hudson County’s Bayonne and West New York, or Bergen County’s Palisades Park and Leonia, you are likely to face various tenant problems. Moreover, if you’re a cash buyer in New Jersey, you may think of renting out your entire property to regain the invested money. Remember that it can happen only in a perfect world that all your tenants are peaceful, calm and never cause any trouble. But our world isn’t perfect. So, brace yourself to sail through the problems. Here’re some key strategies that would help you handle tenant problems.

  • Be open to compromise: After purchasing your house from amongst New Jersey houses for sale, you may have rented it out to tenants who often come to you with lots of problems. Try to define the problems as objectively as you can and find a mutually agreeable solution.
  • Respond fast: Remember that immediacy is the best friend of a landlord. That being said, when you identify a problem or receive a complaint from the tenants of your house, you need thand-376212_960_720o respond fast. If you allow the problem to linger, things will only become worse over time.
  • Be responsive: Whether it’s an argument with other tenants or damage to a unit, once you’ve sorted out the issues, don’t just stop there. Check back with everyone involved after sometime. This way, you would be able to gauge hard feelings or smoldering issues, if any. If your tenants are satisfied with your professionalism, they’ll definitely come to you first in case of future problems before taking things in their own hands.
  • Acknowledge a complaint: This is a good strategy to acknowledge a complaint regardless of your perspective or your relation with a tenant of the house that you bought from someone who told ‘I need to sell my property quickly’ and gave you a good deal. If you leave a complaint unanswered, it’s most likely to breed resentment. Thus, it’s advisable to acknowledge first that a problem exists. You don’t need to commit anything further at that point.
  • Be communicative: In case you live far away from the rented house in Bayonne, West New York, Palisades Park or Leonia, you’re more susceptible to tenant problems including disturbances, property damages etc. Without regular landlord-tenant communication, it’s almost impossible to develop a rapport with your tenants and to get their respect.

Now, when you’re aware of five key strategies to handle problems of the tenants of your house bought from houses for sale in New Jersey, what are you waiting for? Simply place an advert either online or offline, spot some good tenants and rent out your house in Bayonne, West New York, Palisades Park or Leonia.

 

How to interview tenants and know when you’ve found the right one

When you have advertised your property and there are potential tenants responding, you have to be careful whom you pick. If you pick a good tenant, you will be a happy landlord. If you pick the wrong tenant, you will live to regret. This is something we do not want to experience. When you place your advert for Ridgefield homes for sale or rental, you want to treat all your potential tenants fairly and you may have to give all of them a chance through the screening process that will weed out the bad tenants from the good ones. So how do you go about the tenant screening process? Here is the process:

  • The first thing is the first contact. When the potential tenants call you inquiring about your house, you can ask them all the relevant questions that will make it easy for you to know them better. The first contact can also be through an email, a letter, social media and so on.  Ask them why they want to rent your home. Do they have a pet?  How will they pay the rent? All these questions help introduce the tenant to you.
  • The next step is showing the potential tenant your rental house. You can tell a good tenant from their mannerisms, they speech, and their appearance.  Did the tenant come to see the house in their cars? Are they neat and clean? Does he criticize the property for the sake of it?  Did they haggle too much about the price? You can learn a lot about the potential tenants even before you speak to them. Most cash buyer property dealers want to find a tenant who will help them recoup their expenses without a lot of stress. You do not want a tenant who will be difficult for you.
  • The next step is the process of rental application. Here, let the applicant fill the application forms and let them know that they will be considered alongside other potential tenants. At this stage, you have an opportunity to application-1883453_960_720run a credit report on these potential tenants. You should collect a screening fee from all the potential tenants who make the application as this will help in paying for the credit scoring process.
  • The fourth step is the approval stage. Here, you will have made the right decision regarding the tenant that you want for your house. Inform your tenant that you have approved their application and that they must come ready to sign the lease agreement. Let your tenant bring the right amount of money and inform them how you would like the rent fees to be paid in the future. This takes us to the final step, signing the lease.
  • The lease signing is the final step in screening your tenant. Read the lease step by step with the tenant and let them understand what the lease terms and conditions are. If the [prospective tenant argues on everything on the lease agreement, then, for sure, they may not be the right kind of a tenant that you are looking for.

When you are buying your house Jersey City and you want to have a tenant occupy such a house, the above steps in screening the tenant will be crucial. Remember that a good tenant and an informed tenant will give you peace of mind in the long run.

5 things first time home buyers need to consider

Buying a home for the first time may seem like a daunting task to many. No wonder that many end up committing rookie blunders in their hurry to close a deal or by being tempted to finalize the deal just after seeing the first place fitting their price range. From Union City and Jersey City in Hudson county to Cliffside Park and Lodi in Bergen County, the scenario is more or less same everywhere. If you too are planning to buy a house for the first time, here are five things you need to consider:

 

  • Type of home to suit your needs: Before buying your house in Jersey City or anywhere else in Hudson County, make sure to check your home ownership goals to decide what would suit you best – a duplex, a condo, a single-family home, a multi-family building (with two to four units), a townhouse, a condo, or a co-op (housing cooperative).

 

  • Features the home should have: From your basic desires like a vibrant neighborhood and home with lots of space to smaller details like the layout of bathroom or the amount of light that enters the room etc, make sure to know well what you want your ideal home to have. However, it would help to have some flexibility in this wish-list of yours as too rigid a list may make it difficult to find a home of your choice that ticks all features on the list.
  • Consider all expenses when planning your home budget: Home budgeting isn’t just about principal, taxes and interest. You must consider commuting costs, utilities, upgrades required and insurance as well. You may get an estimate of the costs involved for utilities by calling the utility company servicing the house that you are planning to buy.
  • Get your lender’s pre-approval: Since homes for sale in Hudson County, NJ or Hudson County are limited and many people make offers for the house that you too have shortlisted, it pays to have your loan pre-approved before you go for property showings. Else, the sellers in Union City, Jersey City, Cliffside Park or Lodi won’t consider your offer when others with pre-approved loans make an offer for the same property.  negotiate
  • Negotiate for a better price: You can continue negotiating the price even after the property tour is over to get a better deal. This is especially true if you find some flaws during the property showing since you can use it to your advantage to get your chosen home by paying less.

Though there are many more things to consider, these basic ones will help you make an informative choice when buying a home in Union City, Jersey City, Cliffside Park or Lodi. So, shortlist homes for sale in Hudson County, NJ or Hudson County and go ahead to close the deal with confidence.

4 Tips for selling your home in a down market

A down market is one when there are many people selling houses. As such the prices of these homes will be low and it is normally difficult for one to land a buyer easily.  When there is a down market, properties will sit on the market for a much longer time and they will fetch lower prices when they sell. Whether you can find a client who will be buying a house with cash or in check, there are some tips that can help you find these clients. Here are 4 such tips to help you sell your home in a down market:

 

  • Price your home right

What this means is that you have to make concessions on price. You have to quote a price that is a bit low considering that there are many foreclosures and many homes on sale. Undercutting the market prices means one has to do research on what some comparable homes are selling for.

You may not for sure compete with the homes in foreclosure but once you get the price right, you will be competitive. You will definitely have more action compared to the sellers who have not priced their homes low. You can research on Zillow or you can find an agent who will help you to find the right price for your home. Agents are more suited in giving comparative prices for homes.

  • Work on your home curb appeal

When you can’t compete on price with the other sellers, one aspect that could give you a boost is the curb appeal of your home. Work on the home exterior looks so that more buyers can be appealed by it. Spruce up your plants and get your home washed to look smarter than all the others down the block.

Remember that Jersey City NJ cash house buyers have plenty of options and the moment your home appearance is lackluster, be sure the potential buyers will overlook your home.

  • Come up with a marketing plan

Marketing simply means advertising your home to give it more visibility. With regard to advertising, there are various ways you can do this. Get to know your target market first so that you can put the advert in the right forum.

Put the advert in print media as well as in the online portals and social media platforms. Niche publications would help you to market your house to lawyers, doctors, and other high earning professionals.

Single-storied new jersey houses for sale can be marketed to senior citizens who do not prefer stairs. There are magazines and spaces that target these people. The idea is to market your home to the most feasible group of people.

  • Offer bonuses or incentivesbonus

You can give your potential buyers incentives or bonuses to entice them to buy your home. You can also offer to pay some costs such as attorney’s fees, closing costs, association fees and such kind of incentives. Most of the new house buyers in West New York would be interested in homes that have such kind of offers. Be a savvy seller! Make the buyers choose your home over the others.

4 Top problems that rent-to-own tenants face

At first glance, a rent-to-own deal seems to be an ideal option as it combines advantages of both renting and selling a house. As a tenant, part of the monthly rent you pay goes towards purchasing the home you are already living in. While you have already prepared to pay a monthly rent that’s higher than the market rent price because part of the rent goes towards your down payment, there are actually several other issues that can cause you problems which you might not have anticipated in the beginning.

Renters with punctuality problems are at a disadvantage in rent-to-own agreements. Most contracts don’t allow late payments to be credited to the deposit. Regardless how close you are to the end of the agreement, the landlord still takes full ownership of the property if you miss a payment, and the amount you have built up for the down payment is forfeited. Most of the time, rent-to-own tenants don’t have legal options to recuperate their investment.

Rent-to-own agreements also make the assumption that the tenant would have built up good credit history to qualify for a mortgage, or have saved enough to pay for the full down payment at the end of the lease period. Know the exact amount you would have accumulated for the down payment by the end of the lease and make sure as well that you will be able to meet the requirements to qualify for a mortgage.

Another problem that rent-to-own tenants face is the risk of the property value dropping. This makes you stuck into paying for a house at an inflated price especially if you’re already towards the end of your agreement and have accumulated majority of the down payment and option fee. Research home prices to find out if the property is worth the price you’re paying for. A rise in the value of the property can also be a problem to the tenant especially if the contract allows the landlord to terminate the agreement for this reason. In the case of an increase in house prices, it is possible for the landlord to renege on the contract especially if they have found another buyer and sell right away at the increased market value.

The landlord’s financial standing can also be a problem for the tenant in a rent-to-own agreement. If the landlord falls behind on a mortgage payment and loses the house, the tenant may probably lose the option to buy as well as all of the accumulated rental payments intended for the deposit. Ask for the house’s title records as well as mortgage maintenancestatements to make sure that the house is really the landlord’s to sell and how much is owed on the property. Aside from mortgage payments, look into the property tax payments as well, otherwise you might be obliged to pay back taxes just to not lose on any amount you have already invested.

Home maintenance and repairs can also be a problem for the tenant once they move in. Unlike straight up home rentals, rent-to-own landlords don’t fall under the legal requirement to ensure the place is habitable and to undertake maintenance and repair work.

How you can find comps in your area to determine the potential appraised value

For you to determine the appraisal value of your house, you have to use comps or the comparables. The real value of your home will be determined by factors such as the location of the home, recently sold houses in the neighborhood, the age of the house, the square footage and so on. People will need to look at the CMA or the comparative market analysis to determine the appraised value of a home. It is easy for you to determine the real value of your home. There are a number of ways to do this:

Use appraisers and agents

An appraiser and an agent can determine the comps of your home by considering a number of items. They can look at the MLS or the Multiple Listing Service. For the residents of Hudson County and Bergen County in NJ, they can access these agents and appraisers and have these factors determined for them. what happens here is that the Agents and appraisers will have access to the local database of the properties that are listed  for sale. They also have access to the database of the properties that are being sold or pending, as well as properties that have already been sold in a particular area.

For instance, the agents and Appraisers have data on all the homes sold in Hoboken, Hudson country for instance. The residents of Little Ferry in Bergen County can also have access to this data through their agents and appraisers.

How to determine your house value through Comps

In determining the comparative value of your home, you should consider the features of your home. If you are selling a 3 bedroom house in your neighborhood, you should compare the sale price of such houses for the last six months. Look at three similar houses that have been sold previously in the last six months. Compare the features of these houses such as garages, pools, square footage and so on. Compensate for the differences between your home and these three and this will be a simplistic way to determine the value of your home.

Use online Resources to help you determine your home valueipad-820272_960_720

Regardless of your location, there are online tools and resources that can help you to determine the true value of your home. These tools are fairly accurate and reliable when used with the data from realtors, agents and appraisers. Finding the comparable data for your home is easy through the internet. You will find this information from online resource websites. These house value sites are Zillows, Trulia, Redfin among others. Other than these free value sites, you should also find information on local comps through the pay value sites like Home Smart Reports and Real Quest.

What you should know before investing in your specific market

Before one invests in the real estate market, they need to know what risks there are and what opportunities there are in this kind of investment. Any form of real estate that you buy with the aim of making a profit can be termed as an investment property. Whether you are investing in Secaucus, Hudson County or Ridgefield Park in Bergen County, there are factors you have to consider.

When you are investing in real estate, you have to know that there are two types of real estate properties that you can engage in. There is the commercial property and the residential property. As such, you have to choose to invest in one of these markets or invest in both. Well, you have to consider when there are more profits before you dive into any of these two markets.

Residential properties:

These are the most suitable investment market for first-time investors. If you are a newbie in the real estate market and investment, you would be better off starting with the residential l properties. You will make some profits out of prudent investment in this segment of real estate. You could buy properties in this segment and rent them out to individuals for profits. It is also a well-known fact that flipping residential properties is much easier and profitable as opposed to the commercial properties.

Commercial properties:

Before you can dive into this kind of a real estate segment, it is important that you have enough experience with the residential properties market. The residential properties market should serve as a stepping stone for you into the residential real estate segment. The costs of dealing in commercial properties are prohibitive and as a newbie in real estate, one should steer clear of this investment until they are seasoned enough.

However, since the downturn of 2008, there are many opportunities in this segment that could still make you good money. You will need to put in time and money to identify the low priced and worth commercial properties that can make you money.

Before investing in the above two types of real estate properties, you have to do some research on the local listings of real estate property that is on sale. Think about the cost of the property and the mode of financing that is suitable for you. Will you need to take a loan from a bank?  Do you need to take a mortgage to finance your property? What are the downturns of each of the financing options that you have? Shop around for the best deals.

Risks of real estate investmentsresearch

Investments in the real estate are quite risky. Considering the amounts that are at stake, you should always think before you make any investment decision.  You should avoid buying blindly. Do some research and calculate the estimates, the net operating income and all other expenses and incomes related to real estate. You should be ambitious in your investments. However, being too ambitious could also present a risk of losing your investment where one makes decisions without weighing the pros and cons of their investment decisions.

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