Annemarie Torcivia - RE/MAX  Trinity



Posted by Annemarie Torcivia on 1/13/2020

Getting a professional inspection is one of the most important parts of closing on a home. An inspection can save you endless time and money if it catches repairs that need to be made, and it can draw your attention to any problems that could be dangerous to you and your family.

Many buyers, especially those who are buying a home for the first time, aren’t sure what to expect during a home inspection. They might have questions that they’re afraid to ask the inspector, or they might feel like they should be asking questions but don’t know the right ones to ask.

In this article, we’ll give you the rundown on the home inspection process. We’ll explain how to get started, what to expect on inspection day, and what to do with your findings.

Contingency clauses

Before closing on a home, it’s important to make sure your offer involves a contingency clause, otherwise known as a “due diligence contingency.” This section of your contract gives you the right to perform a home inspection within a given number of days.

Sellers may inform you that they have recently had the home inspected and even offer to show you the results of the inspection. However, it is best practice to have your own inspection performed with a trusted professional.

After your offer is accepted, you should begin calling and getting quotes from inspectors immediately.

Before the inspection

Once you’ve considered your options of inspectors and chosen an inspector, it’s time to schedule your inspection. Both you and your real estate agent should attend the inspection.

You’ll both have the opportunity to ask questions. However, it’s a good idea to write down your minor questions and ask them before or after the inspection so that the professional you’ve hired is able to focus on their work to do the best possible job inspecting your future home.

During the inspection

The inspection itself is pretty straightforward. Your inspector will examine the exterior and interior of your home, including several vital components and then will provide you with a report of their findings.

They will inform you of repairs that need to be made now, parts of the home that should be monitored for future repairs, and anything that poses a safety concern to you and your family.

The parts of your home the inspector will review include:

  • Roof

  • Exterior Walls

  • Foundation

  • Garage

  • Land grading

  • Plumbing

  • Electrical

  • Heating, ventilation, air conditioning

  • Appliances

There are some things your inspection won’t include. For example, mold, termite damage, and other issues that aren’t easily observable without causing damage might be missed by your inspector and will require a specialist.

After the inspection

Once the inspection is complete, you will have the chance to ask any remaining questions. You can review the findings of your inspection report and make decisions about how you want to handle any repairs that need to be made.

You may choose to ask the seller to make the repairs noted in your inspection report. If they refuse, you can withdraw from your contract at any time.


Ultimately, the choice will be yours what to do with the findings from the inspection. But having one can save you immeasurable money on impending repairs that you may not have been aware of.




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Posted by Annemarie Torcivia on 11/25/2019

It’s always a goal in life to be happier in our jobs and make more money. When it comes to buying a home, your job status can have a big effect on whether or not you’ll be able to buy a home or not. You will be able to buy a home using a new source of income. Even refinancing can be a breeze when you have a new job and the right knowledge. 


Many people believe that changing jobs or having gaps in between employment is a certain type of black hole when it comes to getting a mortgage. However, if you approach all of the changes in the correct way, you should be able to land the mortgage deal and secure a home.


Average Income


One of the most important numbers that your lender will calculate when you’re buying a home is that of your average income. This will be based on the pay that you had earned in the past 24 months‘ time. If you have had the same job and pay, this won’t be much of a big deal, However, if any of these things have changed (or will soon change) your lender may have some questions. This doesn’t mean that your mortgage application will be struck down completely. 


Information That’s Needed In The Event Of A Job Change


If you have recently changed jobs in the process of trying to refinance or buy a new home, your lender will need a few pieces of information from you. These items include:


  • An offer letter for the job
  • A role or title change letter (if applicable)
  • Compensation package change confirmation
  • Verification of employment
  • Most recent pay stub


Hourly Employees


If you’re an hourly employee, unfortunately, you’re under the tightest type of scrutiny when it comes to applying for a mortgage. Your income will be averaged for as long as you have been an hourly employee. If you work full-time, this won’t be too much of a problem. If your hours fluctuate from week-to-week, this can make things a bit more complicated.


If your hourly rates have recently gone up, you’ll need a bit of info from your employer to help you get the income verification that your lender needs. These items include:


  • An offer letter
  • Recent pay stubs
  • The new compensation structure or offer

If you have any sort of extenuating circumstances like a relocation or a new position, this information can help to bridge the gap in any information that just doesn’t add up as far as your employment history goes. 


Salaried Employees


If you’re a salaried employee, things are a bit simpler. Your lender will have a much easier time calculating your average income. The only issue that you may encounter is if you have had a gap in employment. For this, your lender will require a written explanation of what occurred during that time period.  

 

Lenders want to protect themselves, but in a way, they also want to protect you from getting in over your head with how much you can afford for a home. With some proof and a little explanation, you should be able to get a house you can afford if you have all of the information that you need to back up your financial history and employment history.




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Posted by Annemarie Torcivia on 10/14/2019

The homebuying process can be stressful, particularly for those who are purchasing a house for the first time. From the time it takes to find your "dream" home to the final closing, there may be many hurdles that you'll need to overcome to secure your ideal home. As such, it sometimes can be difficult for a first-time homebuyer to maintain a positive outlook during the most challenging times.

Lucky for you, we're here to help you remain calm, cool and collected throughout the entire homebuying cycle.

Now, let's take a look at three tips to help first-time homebuyers maintain a positive outlook at each stage of the homebuying journey:

1. Establish Realistic Expectations

Although first-time homebuyers would like to believe the property buying journey will be quick and seamless, it is important to realize that problems can arise without notice. However, homebuyers who understand the ins and outs of purchasing a house should have no trouble identifying potential issues and minimizing their impact.

For example, a homebuyer who defines his or her ideal residence can narrow a home search accordingly. This homebuyer also will be able to check out a variety of houses based on assorted property buying criteria and boost his or her chances of discovering the perfect residence without delay.

A homebuyer who establishes realistic expectations will be ready for the worst-case scenarios too. And if this homebuyer submits an offer to purchase a home that ultimately gets rejected, he or she will remain confident and be ready to restart the homebuying cycle from stage one.

2. Become an Informed Homebuyer

A first-time homebuyer who learns about the housing market can improve his or her chances of getting the best possible results.

Allocating the necessary time and resources to understand the differences between a buyer's market and a seller's market, for instance, can make a world of difference for any homebuyer, at any time.

Furthermore, an informed homebuyer may be more likely than others to get pre-approved for a mortgage. With a mortgage in hand, this property buyer can set a budget for his or her home search and increase the likelihood of securing a terrific house at an affordable price.

3. Work with a Real Estate Agent

When it comes to purchasing a home for the first time, why should a homebuyer leave anything to chance? Instead, a homebuyer can work with a real estate agent to reduce the risk of potential pitfalls throughout the homebuying cycle.

A real estate agent is happy to respond to a homebuyer's concerns and questions as the property buying journey progresses. This housing market professional will even help a homebuyer maintain a positive outlook, regardless of what happens. That way, a real estate agent can assist a homebuyer through both good times and bad and ensure a property buyer can purchase a first-rate house that matches or exceeds his or her expectations.

Take advantage of these tips, and any first-time homebuyer can keep things positive at each stage of the homebuying cycle.




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Posted by Annemarie Torcivia on 8/26/2019

Looking for the perfect place to call home? Is your vision of home that iconic white-picket fence ranch in the suburbs? Or, do you love the walkability of an urban neighborhood? Do you dream of a large backyard with room to host the neighborhood barbecue? How about being near to great schools? Extensive libraries or museums? Sports facilities? A neighborhood park? A nearby school?

Every year, various rankings for cities make it into the new: Best Cities to Live in America; Where to Life; Best Places to Live; Best Small Towns; Best Cities for Millennials; Top Ten Cities for [insert demographic here]. 

Investigate before you head across town … or across the country. 
The perfect location for someone else may not be the perfect home for you. Before chasing someone else’s dream, consider these factors that might better inform your home search:

Think about what’s important for you.
Do you value more space, better schools, a larger home? Or, does being near family and long-time friends give you a sense of “home,” of belonging? Do you want to be nearer work, so the commute is shorter, giving more time for “life”? These are not new questions. Families have moved from cities to the suburbs and back again for decades.

Consider what you might be giving up.
Moving to the city might mean access to cultural events, restaurants, a short commute, while the suburbs might offer that large home with a yard, or the perfect school. In either event, a move might take you away from friends, or give you the opportunity to make new ones.

Is it Family Friendly?

The criteria researchers use to determining a location's "family friendliness" include:

- Job market
- Commuter times and delays
- Crime rates
- School rankings
- Median household income
- Cost of living index
- Home affordability
- The percentage of homeownership

Different cities rank differently in each category in different years, so don’t just rely on the most recent reports to determine where you might want to live. Check back over the past few years and look for trends … Are the schools improving? Is there more dedicated greenspace? Has public transportation improved? Are the demographics change?

If you have school-age children, don’t just look at the elementary schools. In no time at all, your starry-eyed first-grader will be approaching graduation. It’s not all about academics either. Children need exposure to other opportunities and extra-curricular activities as well.

On the other hand, if you’re thinking of starting a family, you also need to check out hospital maternity suites (or birthing alternatives), daycare facilities, toddler playgrounds and opportunities for young parents to gather.

Of course, none of the lists, rankings, and surveys matter if the commute from your job is so long that you’ll miss out on all your kids’ ballgames and activities.

The perfect place for you to call home and to raise a family might be a new place where you’re sharing a new adventure together … but it might just be the neighborhood you know best and have already called “home.”

No matter what you determine, utilizing an expert real estate professional can match you up with the perfect place you, and your family will make into the home you’re looking for. 





Posted by Annemarie Torcivia on 8/19/2019

The homebuying process sometimes can be tough to navigate. Fortunately, we're here to help you achieve the optimal results throughout the homebuying cycle.

Now, let's take a look at three questions that every homebuyer needs to consider as he or she pursues a home:

1. What is my "dream home" definition?

If you know what you want to find in your "dream home," you may be better equipped than ever before to streamline your home search. Thus, it generally helps to establish a list of home must-haves and wants to guide you along the homebuying journey.

As you check out a broad range of houses, don't forget to update your list of home must-haves and wants too. By doing so, you may be able to further accelerate your home search.

2. What can I afford to pay for a home?

The prices of homes vary based on location, size and other factors. As such, you may want to get pre-approved for a mortgage to ensure you know exactly how much you can spend to acquire your ideal residence.

Getting pre-approved for a mortgage can be fast and simple. If you meet with banks and credit unions, you can learn about all of the mortgage options at your disposal.

Of course, you should ask plenty of questions any time you meet with mortgage specialists. This will enable you to evaluate myriad mortgage options and choose a mortgage that complements your finances perfectly.

3. How can I quickly and effortlessly achieve my homebuying goals?

The homebuying journey differs from buyer to buyer. However, homebuyers who work with real estate agents typically can boost the likelihood of achieving the best-possible results during the homebuying journey.

A real estate agent knows the ins and outs of the housing market. He or she can teach you about the real estate sector and help you narrow your home search. Also, a real estate agent is unafraid to be honest with you and will offer unbiased recommendations to ensure that you can make an informed homebuying decision.

Let's not forget about the comprehensive assistance that a real estate agent can provide throughout the homebuying cycle, either. A real estate agent will keep you up to date about available houses that match your homebuying criteria. In addition, he or she will set up home showings that enable you to check out residences in-person. And once you discover your dream residence, a real estate agent will help you put together a competitive offer to acquire this house.

Furthermore, a real estate agent is ready to respond to any of your homebuying concerns and questions. As a result, a real estate agent will allow you to quickly and effortlessly navigate the homebuying journey.

When it comes to buying a house, there is no need to worry. If you collaborate with a real estate agent, you can get the support you need to make your homeownership dream come true.




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