10 Common clauses buyers use in their offers

[vc_row][vc_column width=”1/2″][vc_single_image image=”16806″ img_size=”large”][/vc_column][vc_column width=”1/2″][vc_column_text]There are many clauses in the contract that are put in place to protect both the buyer and seller. We know are way around real estate contract to keep you protected.

1. Loan Approval Contingency
2. Home Inspection Contingency
3. Lead Based Paint Contingency
4. Appraisal Contingency
5. HOA fee payment terms
6. Appraisal Contingency
7. Lien Contingency
8. Home Repair Requests
9. Insurability Contingency
10. Clear Title Contingency[/vc_column_text][/vc_column][/vc_row]

11 Laws, regulations & disclosures you should be aware of when selling your home

[vc_row 0=””][vc_column][vc_single_image image=”5228″ img_size=”large”][vc_column_text 0=””]When people think about selling their home, they often forget that there are many laws and regulations in place concerning the selling of Real Estate. Here are just a few examples of what we are well versed in to protect our clients.

1. Federal Fair Housing Laws – prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and disability.
2. Lead Based Paint Laws/Disclosures – Federal law requires that before being obligated under a contract to buy housing built prior to 1978, buyers must receive the following from the homeseller: An EPA-approved information pamphlet on identifying and controlling leadbased paint hazards titled Protect Your Family From Lead In Your Home (PDF)
3. Seller Disclosure Laws – Required Real Estate Disclosures When Selling Property. … In general, you have an obligation to disclose potential problems to a prospective buyer that could affect the value of the property you’re trying to sell. In addition, it is considered illegal in most states to deliberately conceal major defects on your property.
4. State & Local Housing Laws– Here is the link to the  State of Arizona Department of Real Estate. http://www.re.state.az.us/LawBook/LawBook.aspx
5. Real Estate Contract Law (Realtors are licensed to perform contract law for retained clients only)
6. Zoning & Local Ordinances – You must know any local laws and ordinances regarding different items, like pool enclosures etc..
7. Advertising Laws – which includes fair housing
8. Building Codes – Again, you must know your local codes and ordinances.
9. Government Rights/Real Property Law – Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system.
10.  Environment Rules – Septic Systems, superfund sites,
11. Stigmatized Property Laws (death, drugs etc). In 1995 the Arizona Legislature passed A.R.S. § 32-2156, the stigmatized property law. This law addressed when a real estate broker or seller must disclose information to a buyer relating to facts that may psychologically impact the home, such as a suicide or murder.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

Download our guide with 13 Checklists and Realtor Tips on Selling your Home

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12 People your Realtor knows how consult with for a smooth home sale

[vc_row 0=””][vc_column width=”1/2″][vc_single_image image=”17167″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_column_text 0=””]There are lots of players in a real estate transaction. Your Realtor knows the right questions to ask when issues arise. Here is a list of 13 people your Realtor could be consulting with to make sure you transaction goes smoothly.

1. Real Estate Attorney (if applicable in your state, not a big one in Arizona)
2. Appraiser (to ensure the buyers loan will accept the appraisal)
3. Home Inspector (in order to negotiate repairs)
4. Loan Officer (to confirm buyer is qualified to purchase)
5. Mold Tester (if needed)
6. Lead Paint Tester (on homes built prior to 1978)
7. Radon Tester (if needed)
8. Well/Septic Specialist (if needed)
9. Termite/Pest Control (there are only 2 types of homes in AZ, those with termite and those without)
10. Title Company (to ensure clear title)
11. Insurance Company (to ensure home is insurable)
12. County/City Permit Department (to verify any additions were done to code)[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

Get your free copy of our home sales guide.

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CHECKLISTS FOR SUCCESS

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Download our guide with 13 Checklists and Realtor Tips on Selling your Home

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Phoenix Short Sale Specialists

Phoenix Short Sale Specialists

What is a Short Sale? 

As Phoenix short sale specialists, we can tell you that a short sale is when you owe the bank more than what your home is worth and you sell it. You are essentially “shorting” the bank the difference. The bank has to approve these types of sales.

Why would a creditor allow a Phoenix short sale happen?

Well, there are a lot of reasons, but the simplest of reasons is that it is less expensive for a creditor to allow the short sale of a home rather than the foreclosure and resale process for those who have run into financial trouble. The loan servicer is most likely not collecting the mortgage owed each month on the property combined with the long foreclosure process, it costs the bank significantly more to foreclose rather than short sale a Phoenix home. Another fact is that most creditors are dealing with numerous amounts of defaulted loans to start with so, if all of them foreclose they will own real estate, and have to pay a realtor to list the property and obtain a buyer anyway.

So what happens to that money the bank gets shorted???

The banks write it off as bad debt. If you have mortgage insurance on your loan they may make a claim and to recoup the debt. They will also send you a 1099-C, you will need to talk to a tax advisor to see how this will affect you.

We at the Phoenix Metro Group are expert short sale agents in Phoenix and the metro that have successfully closed numerous short sales with several banks. Wells Fargo, Bank of America, Suntrust, M&I, HSBC and Chase are just some of the creditors we have worked with. Each creditor has it’s own process for short sales and all require a lot of tedious paperwork, but if you hire an expert short sale agent to handle the sale of your Phoenix Metro property, your chances of the short sale being approved rise significantly.

Please feel free to contact us directly at 602-730-5068 or email us at amy@phoenixmetrogroup.com.  I can answer any of your questions or help you with the sale of your home. I have extensive training and expertise with short sales, re-sales and new construction in the Phoenix area and I am here to help you.

5 Worst things about selling a home

sell my home in phoenix let's get real
Amy Gerrish, Top Agent at the Phoenix Metro Group

We have identified 5 of the WORST realities you’ll face when you have to sell your home in Phoenix: 

  1.  CLEANING THE INSIDE: You need to keep your house pristine. By prisitine we mean with absolutely no evidence that humans actually live there. Ok, ok, we know this sounds a little dramatic. The good news is that it really only needs to be this clean once in the process, that is for when our professional photographer comes through. You never get a 2nd chance to make a first impression and nowadays the internet and all those fancy home search apps is your home’s first impression to the world. Make it clean, make it count. The rest of the time, keep it clean and keep an empty laundry basket nearby. When you get a showing request simply take 15 minutes and do a basket toss of items lying around and whip it into the garage.
  2. CLEANING THE OUTSIDE: Not only do you need to keep your house pristine, but you need to keep your yard the same way. Curb appeal is so important. If you’re not sure if your home has great curb appeal we can make  some recommendations when we arrive for our FREE IN HOME CONSULT.
  3. YOUR PETS: You must leave when you have showings. Not only must you leave, but your animals must leave too.  Or at the bare minimum have them crated or put in the back yard or garage. Don’t even get me started on the litter box, put it outside. People will forever refer to your house as “the cat house” and it will deter an offer.
  4. YAY! YOUR FIRST SHOWING: So now you, your cat, dog, and three kids are in your car driving around in circles waiting for the agent to show up and show your house… and waiting, and waiting, and waiting. Jake forgot to use the potty, and now he  is hungry, the cat just peed in your car, and you are missing Dr. Phil… where is the agent??????? Finally, 32 minutes after he said he would be there he shows up, wearing shorts and flip flops, and takes the buyers in… and 5 minutes later they leave??? What the heck was that? What happened? When your realtor calls for feedback she finds out they only want a single level home, no two stories. Are you kidding? It is listed as a two story, there are several pictures showing clearly it is a two story, you even have a picture of the stairs!!!!
  5. YOU GOT AN OFFER: You will get an offer! It might be a ridiculous offer. It will ask for crazy things, like for you to pay all of their closing costs, or for you to leave your brand new Rainbow swing set in the backyard, or sometimes even your pet if they happened to catch a glimpse of the adorable thing before you got him in the car. What are they thinking? You are just selling your HOUSE, not your life!

Learn how we combat the messy stuff and turn it into getting you the most money for your home!

http://phoenixmetrogroup.com/sell

Feds Raise Rates, What does that mean for mortgage financing?

The Fed raised interest rates a quarter of a point this afternoon. Here’s what it means for your money.

Mortgages: If you’re shopping for a new house, the mortgage could run you an additional $720 a year if all of the Fed’s three expected rate hikes go through, based on a $200,000 home currently financed at over 4 percent, according to Bankrate.com.

However, long-term mortgage rates are not tied directly to the federal interest rate.

***In fact, the last time interest rates went up, mortgage rates went down.

Get the full story herehttp://www.nbcnews.com/business/consumer/what-interest-rate-hike-means-you-n733796

Day Trip from Phoenix: Explore Sedona

Sedona Day Tip from Phoenix

How far from Phoenix? 2 hours

About Sedona – Sedona is a super popular tourist destination.  Why? Well it has these mesmerizing red rock mountains, tons of art, boutiques galleries and of course a deep spiritual pull dragging you out to find an energy vortex that won’t cure your arthritis but you’ll definitely be able to cross into the 5th element and visit your dearly departed aunt Martha, so don’t forget your multipass!  (Does anyone actually read these blogs?)

Where to go: 

  • Chapel of the Holy Cross – Very sacred and inspiring place. The history of this unusual place of worship is outlined on the plaque on the exterior. The chapel  should not be missed. 780 Chapel Rd, Sedona AZ. 928-282-4069. Visit chapeloftheholycross.com for hours. FREE.
  • Tlaquepaque – We’re 99.99 percent sure it’s pronounced Ta-lahk-ee-pahk-ee. This is a shopping center named after a suburb of Guadalajara Mexico. This center is based off of a Mexican village and includes tiny chapel near the central plaza. Come and indulge in shopping boutiques, pottery, clothing, gifts and art. Dining available too. 928-282-4838. Visit tlaq.com for more info.
  • Sedona Arts Center – The center offers theater productions, visual arts exhibitions, and is home to concerts and festivals. 928-282-3809. Visit SedonaArtsCenter.com for hours. FREE Entry to the exhibition hall. Other fees may apply.

 

Scenic Opportunities

  • The Red Rock State Park – This is a 286 acre park that was planned as an environmental center. A naturalist program offers tours. Start at the visitors center to find trails and tours. 928-282-6907. Visit azstateparks.com/red-rock for more info.
  • Take a Jeep tour – Jeep tours are available for different ways to see the red rocks. Our favorite ones are the Honantki Ruins Tour by Pink Jeep Tours. (PinkJeep.com) We also like the super informative guides from Sedona Red Rock Jeep Tours. (RedRockJeep.com)
  • Slide Rock State Park – Slide Rock State Park, originally the Pendley Homestead, is a 43-acre historic apple farm located in Oak Creek Canyon. Todays visitors can still enjoy the fruits of Pendley’s labor. Not only in the orchard but historic cabins are available for viewing, and the creek offers the park’s namesake slide for adventures seekers and those looking for a place to cool off. 928-282-3034. Visit https://azstateparks.com/slide-rock/ for entry fees and hours.
  • Schnebley Hill – One of the most well known hiking and mountain biking routes in Sedona. 23 miles round trip! So get walking! You’ll see ruins, an old carriage house, & epic scenery.  Visit TripAdvisor for more info & the best Schnebly Hill tips.
  • Vortices – Although all of Sedona is considered to be a vortex, there are special spots that have been identified where the energy is more intense and where you are more likely to actually feel the energy. These vortexes have been further categorized into “feminine” (energy entering the earth) and “masculine” (energy coming out of the earth). Cathedral Rock and the Chapel of the Holy Cross have been identified as feminine; Airport Mesa and Bell Rock as masculine. Boynton Canyon combines both. Don’t forget your Multipass to visit Aunt Martha.

 

 

Day trip from Phoenix: Explore Cottonwood

Cottonwood Day Trip from Phoenix

How far from Phoenix? 1 hour 40 minutes

About Cottonwood: Along the Verde River known for it’s Cottonwood Trees. Now a great place to check out up and coming Arizona Wineries.

Freitas Vineyard
Freitas Vineyard

Things to do: 

  • Blazin’ M Ranch – Offering a complete Western experience with a chuckwagon dinner show that features the Blazin’ M Cowboys. Explore shops, a shooting gallery, play horseshoes and dress up for an Old Tyme Photo. This is a family run business! Location: 1875 Mabery Ranch Road, Cottonwood AZ. 800-937-8643. Visit blazinm.com for hours and pricing.
  • Freitas Vineyard – This is a micro winery with hand crafted estate wines in European tradition. No tastings onsite, they can direct you to local venues. Open Daily 1575 Paradise Dr, Cottonwood AZ. 928-639-2149. Visit freitasvineyard.com for hours and wine pricing for purchase.
  • Pillsbury Wine Company Tasting Room – Located in the heart of Cottonwood, Pillsbury Wine Company offers hand crafted fine Arizona wines. Pillsbury claims the soil and altitude in Cootonwood is almost identical to that to the Rhone Valley in the South of France. Location: 1012 N Main, Cottonwood AZ. 928-639-0646. Visit PillsburyWine.com for hours and pricing. 
  • Rendesvous Old Town – Serves a huge selection of handcrafted beers. Casual pub food and flights to beer heaven available. 777 N Main St, Cottonwood AZ 928-634-3777. Visit fb.com/rendesvousoldtown


Scenic Opportunities:

  • Tuzigoot National Monument – A Sinaguan Pueblo situated on a 120 foot high ridge that overlooks a panoramic view of Jerome-Clarkdale. Take your time walking the trail at Tuzigoot. Visit the museum to learn more about the Sinaguan culture.  Open Daily, visit https://www.nps.gov/tuzi for hours and pricing.
  • Verde River Float Trip – Enjoy an easy kayak ride floating on the Verde to understand how vitality important this riparian area is to the all creatures in the Southwest. Kayak trips are offered by Sedona Adventure Tours. Wine Float Trips also available. 877-673-3661. SedonaAdventureTours.com
  • The Verde Canyon Railroad – Railroad cars can be rented for private parties. Wildflowers may be Verde Canyon Railroadviewed from mid-March through May. There are open air gondola cars for outdoor viewing and photography. About the trip: It is a 40 mile roundtrip, operates year round with a seasonal schedule. Call 800-582-7245 with reservation questions or visit VerdeCanyonRR.com for more info.