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Home Warranty & Insurance

What is a Home Service Contract? (AKA Home Warranty) Home Warranty is a descriptive term and was coined because the home service contract industry evolved by offering sellers a service contract to homebuyers as a form of a "warranty." The term home warranty seemed to fit and has persisted, many home services contract companies still widely use the term "home warrant" in their name or on their contract..

June-27

Seller's Property Disclosure

s a buyer, when you make an offer on a home, we will request the seller to provide a Property Disclosure Statement; it is helpful source of information on what the seller knows about the condition of the property.    The document is a multi-page questionnaire the Seller completes normally at the time they list the house with their agent. It covers in great detail the structural and environmentl condi..

June-26

Potential Red Flags (Residential)

Red flag items are not always deal-breakers. If these items are found in the property, find out if the issues can be resolved, and at what cost. The expense to repair or replace can sometimes be negotiated between buyer an seller to save a deal.  Water Damage:  Improperly treated water damage can cause the growth of mold and mildew.  Radon:  This odorless gas, found mostly in rocky areas, can cause ca..

June-26

Making an Offer

Once you find the property you want, a Purchase and Sales Agreement is prepared that will define the terms of your offer and deliever it to the seller. Much of the agreement is standard and there are a series of steps that will be reviewed with you, including counter offers and other negotiable items.  Price:  What you offer on a property depends on a number of factors. A seller with a house that has ..

June-26

So What Will This Cost?

Homeownership pays in the long run, but there are some upfront costs that you should be aware of.    Home Inspection:  This is typically the first cost you will run into and is very important, as it allows you to request repairs. The cost is usually based on a home's square footage and typicaly ranges from $350-$500.   Closing Costs: Closing costs will vary depending on your loan, time of year, and ma..

June-26

Your Buying Power

It is a good idea to contact a lender early in the process to get pre-qualified. This will give you a general idea of the amount of mortgage you qualify for and will save you time because you know the prices of homes you should be viewing. Most reputable lenders will pre-qualify without any fee or further obligation. You will be asked questions about your income and montly debt so the lender can work ..

June-26

Assessing Your Wants and Needs

It is important to establish some important criteria for your new home so you can cut your search time and narrow in on the areas and specific homes that meet your needs and circumstances. Define what you want and need in your new home. rate the importance of each on a scale of 1 to 5; 1 being unimportant and 5 being very important. You may want to write some qualifying comments or add more considerea..

June-26

Home Buying Process Steps 1-7

This guide is designed to summarize the various steps in purchasing a home.   STAGE 1: Initial Consultation - Assessing your wants and needs, Establishing working relationship, Outline buying strategy, Educate on current market, Discuss financing options.  STAGE 2: Begin Home Search - Meet with lender, Begin loan application, Pre-qualify with lender, View properties based on initial seacrh criteria, E..

June-25

Buyer's and Seller's Agents

The service you receive will vary depending on your agency relationship. It is important you know the agent's ethical and legal responsibilities that exist when working as a buyer's agent and as a seller's agent.    A BUYER'S AGENT:  A Buyer's Agent acts solely on behalf of the buyer and owes duties to the buyer, which includes the utmost good faith, loyalty, and fidelity. The agent will negotiate on ..

June-25

Choosing a Real Estate Professional

When selecting a real estate professional , you want someone who has a thorough understanding and can provide accurate information regarding businesses , homes, neighborhoods, schools, and communities.    The right agent will understand the complaxities of the ever changing real estate market and be able to communicate to you crucial market data.    Buying a business or home involves significant amoun..

June-25

20 Steps for Successful Commercial Sale

1. Initial Meeting  2. Recast financial statements & market value 3. Commitment / Exclusive Commerial Listing Agreement 4. Documentation 5. Advertising and Marketing 6. Buyer Qualifications 7. Business Presentation 8. Buyer and Seller Meeting 9. Offer to Purchase 10. Offer Acceptance or Counter Offer 11. Mutual Acceptance 12. Assistance with Financing 13. Due Diligence 14. Contingency Removal  15...

June-25

SBA Financing

SBA financing offers buyer attractive financing terms and interest rates while eliminating or reducing the need for the seller to carry a note. This can mean a lower down payment and lower debt service costs for the buyer. Both of these fatcors make your business attractive to buyers.    SBA Financing Benefits:  * Reduces and at times eliminates the need for a seller note *Lower down payment and incre..

June-25

Seller Financing

When contemplating the sale of a business, an important consideration is how much of the purcahse price you would be willing to finance for  a qualified buyer. The reason is simple: "all cash" buyers for bsuinesses are rare and, in most cases, do not make economic sense for the buyer.    While sellers interpret financing as risk, statistics do show that sellers receive a significantly highe purchase p..

June-25

CONSIDERATION FOR AN INDEPENDENT BUSINESS VALUATION

Independent third-party valuations are very useful tools in negotiations with buyers as they justify the price and value of the company. The independent valuation can also assist to expediting loan approval for the buyer’s financing. Though useful, they are not necessary for every business.   A general guideline to follow for considering a third-party Business Valuation. The Business has sales over $1..

March-21

WHAT I MY BUSINESS WORTH?

Determining the value of a business is often a complex task and is best done by either a Young International professional business intermediary, or a qualified business valuation analyst. Before one can determine the market value of a business, the financial information (profit & loss statement, and tax returns) usually must be recast to reflect the true earning power of a privately held business...

March-21

When Selling a Business

The entrepreneurial boom has changed the face of American Business. Today, there are close to 30 million small and mid-sized businesses throughout the United States. Everyday, more and more business buyers and sellers demand our proven skills and resources to help them succeed in an increasingly demanding market. Divestiture of your business is one of the most important transactions you’ll ever embark..

March-21