Orlando Area Real Estate News

Archive for June 17th, 2008

1. W-2 forms — or business tax return forms if you’re self-employed — for the last two or three years for every person signing the loan.
2. Copies of at least one pay stub for each person signing the loan.
3. Account numbers of all your credit cards and the amounts for any outstanding balances.
4. Copies of two to four months of bank or credit union statements for both checking and savings accounts. 
5. Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
6. Addresses where you’ve lived for the last five to seven years, with names of landlords if appropriate.
7. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.  
8. Copies of your most recent 401(k) or other retirement account statement. 
9. Documentation to verify additional income, such as child support or a pension.  
10.  Copies of personal tax forms for the last two to three years.  

Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.  
 1. How long have you been in residential real estate sales? Is it your full-time job?
While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.  
2. What designations do you hold?
Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners. 
3. How many Orlando Real Estate Investment Homes did you and your real estate brokerage sell last year?
By asking this question, you’ll get a good idea of how much experience the practitioner has. 
4. How many days did it take you to sell the average Orlando Real Estate Investment Home? How did that compare to the overall market?
 The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.  
5. How close to the initial asking prices of the Orlando Real Estate Investment Homes you sold were the final sale prices?
This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.  
6. What types of specific marketing systems and approaches will you use to sell my Orlando Real Estate Investment Home?
You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.  
7. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction?
While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.   
8. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done?
Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
 9. What type of support and supervision does your brokerage office provide to you?
Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your Orlando Real Estate Investment Home.
 10. What’s your business philosophy?
While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
 11. How will you keep me informed about the progress of my transaction? How frequently?
Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit? 
 12. Could you please give me the names and phone numbers of your three most recent clients?
Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.

1. Have a pre-sale home inspection.
Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.  
2. Organize and clean.
Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.  
3. Get replacement estimates.
Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.   
4. Find your warranties.
Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.  
5. Spruce up the curb appeal.
Pretend you’re a buyer and stand outside of your Orlando Real Estate Investment Home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?