Selling
Selling a home before you purchase your new one? Check out these tips to ensure that your home is standing tall and poised for a quick sale!
Maintenance
Home ownership is exciting but your house needs a little TLC every now and then. Your home maintenance guide is just a mouse click away.
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Home Buying Tips
Loan Process Tips from Tidewater Mortgage
We know that building a new home is an exciting process that involves many decisions and considerations related to your new investment. Should you decide to finance your home, we encourage you to consult with Tidewater Mortgage, where you’ll meet the happiest (and most knowledgeable) loan representatives around!
While you may select another lender of your choice, we are proud of the fact that most of our customers select Tidewater based on their outstanding reputation, knowledge of current loan programs, unparalleled service, and commitment to the Coastal Delaware area.
- Signed purchase agreement and all addenda
- Tax returns and W-2s (past 2 years)
- Employment history (past 2 years)
- Consecutive paycheck stubs (last 3, or 5 if paid weekly)
- Name, address, and phone for last 2 years of residences; renters should bring evidence of 12 months of rent payments
- Statements for savings, checking, CDs, money market accounts, etc. (last 3 months)
- Recent statement on retirement accounts (IRA, 401-K, 403-B, annuity, etc)
- Monthly payments and balances on all open accounts
- Divorce decree (if applicable)
- Bankruptcy schedules/discharge papers (if applicable)
- If you are not a US citizen, provide a copy of your green card (front and back). If you are not a permanent resident, provide a copy of your H-1 or L-1 Visa
- What loan program is best for your situation?
- Think about how long you plan to keep the loan. If you plan to sell your home in a few years, you may want to consider an adjustable-rate or balloon loan. If you plan to keep your home for a longer time, you may want to consider a fixed-rate loan.
- Understand the relationship between rates and points. Points are considered prepaid interest and may be tax deductible. Each point is equal to 1 percent of the loan. For example 1 point on a $150,000 loan is $1,500. The more points you pay, the lower your rate.
- Compare different loan programs. With so many programs to choose from, it`s hard to figure out which program is best for you. Consult an experienced loan originator who can help you find a loan program that best fits your short- and long-term plans.
Your loan originator may also request additional documents, such as a loan information sheet, credit authorization and fair lending notice.
This involves verifying your:
- Credit history
- Employment history
- Assets including your bank accounts, stocks, mutual fund and retirement accounts
- Property value. Based on your specific situation, additional documents or verifications may be required.
To improve your chances of getting a loan approval:
- Fill out the loan application completely.
- Respond promptly to any requests for additional documents. This is especially critical if your rate is locked or if you plan to close by a certain date.
- Anything that causes your debts to increase might have an adverse affect on your current application.
- Do not move money into your bank accounts unless it can be traced. If you are receiving money from friends, family or other relatives, please contact us.
- Do not go out of town around the closing date. If you do plan to be out of town when your loan is expected to close, you may sign a power of attorney, to authorize another individual to sign on your behalf.
- Notify your loan officer before applying for any other credit, including credit cards, personal loans or even with another mortgage company. Some loan programs have strict guidelines regarding your credit score. Credit inquiries may lower your credit score and may have an adverse affect on your loan approval.
Be prepared to:
- Bring a cashiers check for your down payment and closing costs if required. Personal checks are normally NOT accepted.
- Review the final loan documents. Make sure that the interest rate and loan terms are what you were promised. Also, verify the accuracy of the name and address on the loan documents.
- Sign the loan documents. The notary will require that you have your picture ID with you. Some lenders also require seeing your Social Security card.
Your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions, federal law requires that you have three days to review the documents before your loan transaction can close. Purchase transactions do not have a three-day rescission period.
Selling Your Existing Home
De-clutter everything!
It’s probably the most important thing you can do to ensure that your house is well-dressed and runway ready! Get the whole family involved. In the process, you’ll probably come across some things you’ve been missing, and you’ll enjoy reminiscing as you linger over your favorite pictures and family heirlooms. Gather those special treasures in preparation for your move.
Clean and organize.
Prospective buyers are interested in visualizing their own furniture when looking at a home to buy. They need to see closet space and spacious rooms, and you want to showcase everything your home has to offer.
Clean those closets, and stow seasonal items away in under-bed boxes or at the dry cleaner. Many dry cleaners will store these for you for a small charge.
Make spaces more inviting by eliminating any items that sit on counters and tabletops. Use colorful baskets or boxes to store items that you just can’t part with.
If you have not used something for three months, pack it up. If it’s been unused for a year, donate it – unless it’s your vacuum cleaner!
Vacuuming carpets and shining floors on a regular basis is a great way to give every room a brighter, fresher look.
Clean your windows, inside and out, to make your home cheerier and the views more noticeable.
If you have blinds or curtains, open them up as much as possible to let in natural light.
Keep it simple, bright and open.
Now that you’ve cleared up your clutter, what can you do with the new found space? Keep it simple, bright and open. If your great room furniture is lined up against a wall, “float it”. Think outside your comfort zone. Consider moving furniture from one room to another. Arrange sofas on an angle and add new area rugs to make the room appear more open. If your furnishings are faded our outdated, have them cleaned or replaced. Move chairs into storage and leave just the sofa to create a larger space. You’ll need a minimum of three feet for traffic to flow around the furniture in a room. Just removing the clutter will add space. Use fresh flowers in large clear vases to accessorize any space and brighten your day!
Building a Home with Schell Brothers
Moving Tips
Home Maintenance Tips
Fall is a great time of year to tackle small projects around the house.
Here are a few Fall and Winter maintenance tips to keep your home in tip top shape.
Winterize any outdoor plumbing fixtures including hose bibs, outdoor showers and kitchens as well as lawn irrigation systems. Note: with the newer “frost free” hose bibs, you must disconnect your hose from the faucet to keep it from freezing.
Change batteries in smoke detectors. We recommend that you change them when you re-set your clocks in the spring and fall.
Clean or Replace air filters. Should be checked monthly.
Check your dryer vent for lint build-up and any other obstructions.
Reverse the direction on ceiling fans to push heat down from the ceiling.
Drain at least 2 gallons of water from the water heater tank in order to get rid of sediment deposits building up along the bottom.
Make sure gutters and downspouts are clear of leaves and other obstructions.
Set heat to a minimum temperature of 55 degrees if home is not a full time residence.
Aerate and overseed your lawn.
Do not use salt or other chemical products on sidewalks and driveways since they cause pitting on concrete and asphalt surfaces. Sand or even cat litter is a safe alternative.
Spring is a great time of year to tackle small projects around the house.
Here are a few Spring and Summer maintenance tips to keep your home in tip top shape.
Test your air conditioning early in the season; don’t wait for the first hot day. If service is needed it’s easier to schedule an appointment early instead of when everyone decides to turn their units on.
Schedule a lawn company to apply a lime application if necessary along with fertilizer (if not in full lawn maintenance community).
Schedule your lawn irrigation start-up (unless this is handled by your community).
Change batteries in smoke detectors. We recommend that you change them when you re-set your clocks in the spring and fall.
Make sure outdoor A/C compressor is level for efficient operation.
Check caulking both inside and out for seasonal changes.
Turn on outdoor plumbing fixtures including hose bibs, outdoor showers and kitchen sinks.
Make sure gutters and downspouts are free from obstructions and that splash blocks are in place to move water away from house.
Check caulking and grout on tile showers.
Wash windows & screens making sure weep holes are clean; lubricate windows for easy operation.
Check garage door operation and silicone door tracks for easy operation.
Clean sediment from faucet aerators.
Inspect exterior paint and caulking and touch-up as necessary.
Clean or Replace air filters. Should be checked monthly.
Plan your first barbecue!
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