How Escrow Works For You by Karrie Rose

Escrow is a way of keeping an amount of money safe while a legal transaction is going on. It’s like having someone that both you and the buyer both trust hold on to payment for merchandise or services while the actual changing of hands takes place; in this case, the trustworthy helper is an account held by a broker. Escrow helps reduce the likelihood that either of the parties involved in the transaction will get scammed.
Generally, one of the first things that happens when the sale is in the escrow period is that the house is subject to an inspection. This practice ensures that the buyer is aware of any defects that would change their offering price, the conditions of the contract, or their desire to purchase the property.

In home sales, there are often contingencies, or specific conditions that must be met before the exchange of funds can be released to the seller. It may be the removal of undesirable items from the property, the completion of a satisfactory house inspection, or even a repair. Having the payment held in escrow until all the contingencies are met helps ensure that the transaction is mutually agreeable.

The escrow or title company hold the funds from the sale and the title to the property until such time that the contingencies are deemed to have been successfully dealt with, at which point the parties close the sale. The company then releases the title to the property to the buyer and the funds to the seller. The buyer and seller do not need to attend the closing of the sale together, which is more convenient for both parties.

Escrow is a safe and convenient way to avoid problems with the exchange of property title and funds, making your home purchasing or selling experience smooth and hassle free.

About the Author
Start your next property sale or purchase in the Destin real estate area with ease at Edkirkland.com. There you’ll find buyer and seller tips, powerful home search technology, details on local communities, and information on how to find the best deals in the Destin home market.

How to Prepare Your Home For Sale by Joy Paterson

In today’s buyers market, selling your home can be a challenge which is why it is extremely important to show your home at its best. Here are a few simple things you can do to better show your home.
1) De-clutter and De-personalize - De-cluttering and de-personalizing is the easiest and the most cost effective action you can take to better present your home for sale. When it comes to showing your home, less is more. Remove religious items, family photos, gadgets and knickknacks. Keep in mind you want the buyer to remember the home and not your family photos.

2) Scrub and Clean - You can’t even imagine how many times I show an eager client a property only to walk into a filthy home and then 30 seconds later, we walk out. Sellers, I know you are busy, but grab the glass cleaner and the vacuum and get rid of those dust mites and dirty floors. If you don’t have time to paint those grubby walls, grab a cloth and wipe them off.

3) Upgrade hardware - Are those handles on your kitchen and bathroom cabinet doors still from the 70’s? Changing the hardware is a simple and cost effective way to give a new, modern look to an old cupboard door.

4) Upgrade light fixtures- Along the same lines as #3, change old, outdated light fixtures and electrical cover plates. These are cheap to replace yet make a huge difference in the appearance of a room. Don’t forget to make sure to replace burnt out light bulbs as well. You want your home to be well lit.

5) Paint - Freshen up the interior of your home with a new coat of paint. Use a neutral colour to make the space appear larger than it is and also to allow the buyer to envision their own furniture in the space. Neutral colours are the best way to go as it allows the buyer to remember the space and not the bright orange wall colour you chose in the 80’s.

6) Upgrade flooring - I know the old shag rug in the living room is a classic, but a potential buyer probably won’t agree. If it’s in your budget, replace it with simple, neutral broadloom or hardwood floors. If hardwood is way out of your budget, opt for laminate.

7) Kitchen Upgrades - One of the first rooms a woman looks at is the kitchen. If it’s not in your budget to re-model the kitchen then consider replacing those old appliances with stainless steel. Stainless steel appliances are sleek and will give your home that modern touch.

Curb Appeal - Ok, so the interior of the home is looking spiffy, we can’t forget about the exterior - after all the front yard is the first thing the buyer sees when they pull up to the home so give it some curb appeal. Make a good impression and make the home more inviting. Grab that lawn mower and hedge trimmer and add a few flowers for colour.

Remember, you only get one chance at a first impression. When selling your home take into consideration these few tips. I’m sure these changes will help to leave a lasting impression on potential buyers.

About the Author
Written by Joy Paterson, Sales Representative, Right at Home Realty Inc, Brokerage. Contact Joy for all your Toronto Real Estate Needs. www.joypatersonhomes.com

Finance Your New Home by Melanie Cath

Most homeowners worry about how to finance the building or purchasing of their new home. This can be easily done with the help of a home loan. Prior to taking one out, the potential buyer needs to be sure that he or she can make the monthly payments comfortably. The home buyer can calculate this amount using readily available calculators on the internet. To make the calculation the buyer is required to enter the down payment amount, interest rate, price of the said home and the term of the loan. This then will assist the buyer in figuring out how much they will be paying monthly and if they can afford it. The best place to begin when looking for a home loan is by getting a copy of one’s credit report.
To get the credit report the home buyer should get online and visit the website of a reputable credit reporting agency. However, the best thing is to contact all three agencies which are Experian, Equifax and TransUnion and obtain a copy from each. From there one should try and get the best interest rates for the area in which they are planning to buy their new home. This rate will be influenced by one’s credit rating as well as personal circumstances. With a good credit rate one can get the lowest possible monthly payment as well as the best interest rate. When one is looking for a home loan he or she needs to track the interest rates to get an idea of what they will be paying.

About the Author
Mel writes about home loan, refinance calculator and other finance and real estate topics.