Dallas / Fort Worth Real Estate - Soussan Naghdivand

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Here are a few useful tips ...

Click here to see Tips For Buyers
Click here to see Tips For Sellers
Click here to see Tips For Moving

Tips for Buyers

Take homebuying process step-by-step

Over the course of one's life, there will be no greater financial commitment made than purchasing a home. It's a huge step that requires money, knowledge and patience.

It can be an intimidating process; it is wise to be prepared before ever starting your home search. Whether you're a first-time homebuyer or a veteran, there are some basics steps that can save time and money.

First, know what you want. Consider what you want in a home that you might not have now. Also consider a working timetable. When do you want to be in your new home? How can you make that happen?

Once you have an idea of what you want, determine what you can afford. Because of changes favoring homebuyers, many will find it easier than ever to purchase a home. New programs have come along in past few years making it possible to buy a home with as little as 5 percent down, while other loan programs allow purchase of a property with no money down. Remember, though, that less money you put down, the higher your monthly mortgage payments will be.

It's important to check your credit before beginning to look for a home. The better your credit, the better chance you have of qualifying to buy a home with little or no money down. Experts advise that there is no substitute for a solid credit record when it comes to buying a home.

Another thing to consider is whether or not you wish to obtain a Realtor, or a buyer's agent. Buying and selling real estate is complicated and might require the help of someone who is familiar with the community and who understands the process.

Getting pre-approved for a home loan is a timesaving step in the process. It takes very little time and also helps the would-be buyer understand how much house they can afford and makes them more attractive to sellers.

Once that is out of the way, it's time to look at homes. Consider neighborhoods and schools, if either factor is important to your choice of home, beforehand. It's important to have a list of desirable features you want in your home, too. Also consider factors such as how close the homes are to your place of employment, schools and other quality-of-life matters. Think about what you might need in several years. Will you need a larger home? Do you expect your income to grow?

Once you have found a home, it's time to figure out how to pay for it. There are literally thousands of different kinds of loans available from a variety of lenders, but several factors will influence your mortgage: down payment, credit rating, and whether or not you're a first-time buyer (someone who has not owned real estate in the past three years).

You apply for a loan by submitting an application with supporting documents such as pay stubs and tax returns. Loans can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions and insurance companies. Some Realtors can arrange financing, too.

Once you have found a home you want, you make a written offer. It helps to be pre-approved for a loan when you do this. The seller has the option of accepting, rejecting or countering the offer. The buyer then has the same choices. Always pay close attention to the price and terms included in any offer or counter-offer.

It is important to have the home you are interested in inspected. Many people add home inspections as a provision of the offer. There are several different things to be examined. These include checking for termites, determining boundaries, checking the value for lenders, reviewing the title and inspecting the structure. A structural inspection allows for the discovery of potential physical defects and whether repairs will be needed. Typical structural inspections run two to three hours, and it is recommended the buyer attend.

Next is the "settlement" or "closing," a process in which all the required paperwork is signed to complete the transaction. The result is the title is transferred from the seller to the buyer, and the money is transferred from the buyer to the seller.

The papers you receive during this process are valuable and should be kept in a safe place for short-term and long-term tax purposes. Generally, sellers are expected to leave the property "broom clean," which means it is ready to be painted (if needed) and cleaned.

Buyers should also obtain fire, theft and liability insurance. Seek advice from an insurance professional in these manners; most mortgages will require insurance.

Finally, enjoy your new home.

How much home can you afford?

Whether you can afford the home you've always wanted will boil down to a simple factor: How much you make versus how much you owe.

Lenders are not eager to extend loans to borrowers who will become overloaded by taking on more debt, so there are some general guidelines to keep in mind when pursuing a home loan.

Determine your monthly gross income, which includes regular monies that can be documented. Remember that income that can't be documented can't be used to qualify for a loan. However, unearned sources, such as alimony and lottery payments, can be used as well as income-producing assets, such as stocks or real estate. If you have questions, ask a loan officer to help you with the rules.

After you've figured how much you make, calculate how much you owe. This is all monthly debt obligations such as credit cards, installment loans, personal debts or other monthly obligations such as alimony or child support. Debts that will be paid off in fewer than six months don't have to be considered.

Although each lender has his or her own formula, generally speaking, monthly housing expenses, including monthly payments for taxes and insurance, shouldn't be in excess of 28 percent of the gross monthly income. Additionally, the proposed monthly housing expense and total debt obligation can't exceed 36 percent of the gross monthly income. If it does, the loan may not be approved.

However, there are numerous types of loan programs available, and each one has different guidelines, so don't get discouraged by the process if your first choice doesn't work out. Keep shopping around.

Your down payment can have tremendous impact on your ability to qualify for a loan. The greater percentage of down payment that you can make, the smaller the monthly payment you will pay. Likewise, closing costs, which can vary from 2 to 5 percent of the asking price of the home, also are part of the financial obligation that comes with purchasing a home.

To determine how much you can afford:

Determine your gross monthly income.
Calculate your monthly debt obligations.
Generally, monthly housing cost should not exceed 28 percent of gross monthly income.
Proposed monthly housing cost and monthly debt obligations combined should not exceed 36 percent of gross monthly income.
Questions? Ask a qualified loan officer for help.
How much of a down payment can you afford? The more money down up front, the smaller the monthly mortgage payment.
Ask about closing costs.

Househunting is logical search for emotional connection

Finding the right home can be like appraising art. You're not sure what it is, it just seems to resonate with you.

A prospective buyer will look through scores of home and, almost out of the blue, connect with a home. It just feels right. Regardless of the feel of a home, there are a handful of things any buyer needs to remember. Never let your emotions run away from you. Be practical, even if you're sure it's the house.

Homebuying hints Some things to look at in each home you view: Roof Electrical wiring Plumbing Bedrooms Bathrooms Living areas Closets Cabinet space Countertop space Garage Heating, cooling systems Windows Stairs (if two-story house)

Price is the most important factor. Is the monthly mortgage payment within your personal ballpark? Does it make you a little uncomfortable? Can you afford the down payment? What about remodeling costs, if there are any?

Take a close look at the condition of the home. Is it a fixer-upper? Are you prepared to take on a fixer-upper and the associated costs? Closely look at major expenses, such as the roof, the plumbing and the heating and cooling systems, to make sure you won't have a major expense that you either don't want or can't afford.

After that, make sure the home's configuration works for you. Does it have the right combination of bedrooms and bathrooms? Are other amenities you want included? It is wise to make up a list of must-have features, features you would like and features you could do without. Think about things such as cabinet and closet space.

Homebuying hints Factors to consider while house-hunting: Evaluate location (distance from work, schools, type neighborhood, etc.) Put together a wish list (start by thinking about the things that appeal and don't appeal to you about your current home) Wear comfortable clothes and sturdy shoes Be prepared to make an offer Act decisively

Consider the comfort level as well. If it's a two-story home, are you ready to climb stairs every day? What about guests you might have who don't want to climb stairs? Will the house accommodate them? Does it have adequate heating and cooling?

You should also consider the house's style and resale potential. This can be a critical area. On average, people move to a new home every seven years. Are you moving into a home that would be appealing to a future buyer? Don't fall into the trap of thinking about how the home fits your lifestyle today. Think about how it will suit you five years from now. Will you need a larger home? Will your income increase significantly enough that you might want to buy more home now, giving you room to grow?

While looking, take notes at every home you see. This will reduce confusion later and help keep your thoughts organized as you move through the selection process.

There is one other recommendation from real estate agents – when you find the right home, act promptly. Agents can tell many tales of people who found the home of their dreams, decided to sleep on the decision and then lost it because someone else made an offer that night.

Sources for these stories include: Coldwellbanker.com, Moving.com, Federal Citizen Information Center Home Page, Realtor.com, Homestore.com, homebuilder.com, forsalebyowner.com, San Diego Association of Realtors, Monstermoving.com, Interest.com, Century21.com and Amsouth.com.

Be prepared for negotiating process

The dream scenario for someone selling his or her home is a long line of prospective buyers shouting at the top of their lungs in a protracted bidding war for the home.

Unfortunately, that rarely happens.

Since the odds are against that taking place, it is best to have a firm grip on what you will consider an acceptable offer for your home.

Here are some questions to ask when evaluating offers:

Is the offer at or near the asking price? Is the offer above the asking price?
Has the buyer included money-eating discounts and costs in the fine print of the offer?
What are the alternatives to the buyer's offer?
Is there time to wait for other offers?
What if no other offers are received?
What if several offers are received?

The best way to sort through the questions is to rely on the advice of a real estate professional, someone who is familiar with the market and the factors that influence it.

Buyers (and sellers) have three choices in any proposed real estate transaction:

No thanks
I'll take it
I'm interested, but here's my offer.

The third choice, the one most frequently used, will initiate a series of counteroffers between the buyer and seller. A counteroffer is nothing more than a new offer. Negotiating is a natural part of any real estate deal. Unlike traditional negotiations, there should not be a "winner" or "loser" in the process. Both sides need to be ready to compromise. Remember, it's not winner take all, and a seller should not take personally any comments made by a buyer. It's just business, pure and simple.

Buyers should be treated with respect, and homeowners should never lose sight of their best interest or their baseline transaction requirement, the standards unique to each owner and which must be met for the home to be sold.

You want your home to attract multiple offers, giving you some flexibility when it comes to choosing a buyer. It is important if you use a real estate agent to make sure your listing agreement provides that your home be included in the Multiple Listing Service (MLS) within 24 hours.

A buyer is not obligated to accept the highest offer. You might want to sell to a better-qualified buyer or seek more attractive terms.

You are free to counter as many offers as you want, but experts advise caution. If you accidentally accept more than one offer, you'll legally be obligated to sell the home to two buyers. Experts advise using a standard counteroffer form that stipulates the counteroffer isn't accepted until the buyer signs it and you accept it.

Tips for Sellers

Shape up for showings

When you prepare to put your home on the market, remember this rule of thumb: If what the buyer can see looks well cared for, he or she will generally assume what they can't see has also been cared for well.

Making that happen is a simple matter of three steps:

Deciding how much to spend.
Getting the most out of the exterior of the home.
Getting the most out of the interior of the home.

If you're trying to decide how much to spend to get the house ready, don't overdo it. Making a few minor improvements, such as a coat of paint or a new light fixture, is better than making a major revision, such as remodeling the bathrooms. If you hire a real estate agent, seek advice regarding specific improvements.

A few areas to consider when working on the exterior of the home:

Keep the lawn edged, cut and watered regularly.
Trim hedges, weed lawns and flowerbeds and prune trees regularly.
Check the foundation, steps, walkways, walls and patios for cracks and crumbling.
Inspect doors and windows for peeling paint.
Clean and align gutters.
Inspect and clean the chimney.
Repair and replace loose or damaged roof shingles.
If the home is on the market during the winter, keep sidewalks cleared of snow and ice.
During the spring and summer, consider adding several appealing potted plans, preferably near the front entrance.
Keep the garage door closed.
Apply a fresh coat of paint to the front door.

Likewise, there are a number of areas you can tackle to help the appeal of the interior of your home. A few tips:

Give every room in the house a thorough cleaning and remove all clutter. This will make the house seem larger and brighter.
Hire a professional cleaning service once every two or three weeks while the home is on the market.
Remove less frequently used items from kitchen counters, cabinets, closets and the attic.
If required, repaint walls a neutral color such as off-white or beige. Also consider replacing worn carpet or linoleum with a neutral color.
Check for cracks, leaks or signs of dampness in the attic and basement.
Replace broken or cracked windowpanes.
Inspect and replace, if necessary, heating, cooling, plumbing and alarm systems.
Replace dripping faucets and showerheads.
One thing to always try to remember is to look at the home from the buyer's point of view. Remain objective and be honest with yourself.

Tips to make your home more appealing to prospective buyers viewing your home:

Keep countertops cleared.
Replace all burned-out light bulbs.
Open all drapes and window blinds.
Put pets in cages or take them to a neighbor.
Make sure there are no dirty dishes in the sink.
Make sure there's no laundry in the washer/dryer.
Clean or replace dirt or worn carpets.
Put on soft music.
Burn wood in the fireplace on cold days; otherwise, the fireplace should be clean.

Realtors can help sellers market their homes

Though there are other avenues available, experts consider it critical that someone interested in selling a home locate a Realtor to make sure the matter runs smoothly. A real estate agent should have a good working knowledge of the marketplace as well as the asking price of comparable homes. Realtors also should be able to provide a competent marketing strategy for your home.

When evaluating real estate agents, ask how they plan to market your home. Marketing your home includes ensuring that other real estate agents are exposed to it – statistics show that in some markets as many as 50 percent of real estate sales are cooperative efforts, that is a real estate agent other than the one you've hired brings in the buyer.

A real estate agent also will know the most effective ways to advertise your property. It may be listed in the local newspaper or featured on a home show. The agent also will know how much to advertise the home because too much advertising can, according to experts, give the impression the property has some problems.

The real estate agent provides many consolatory services to the seller. The agent will help you choose the best proposal or assist you in writing a counteroffer. An agent also can smooth the way for the appraisal, inspection and financing processes, help set up the closing and recommend reputable service providers. The seller also can rely on an agent to work in his behalf on paperwork that can be taxing if an unforeseen snag develops in the negotiating process.

Finally, a real estate transaction typically averages $100,000, a huge financial undertaking. Experts say it is as wise to have an agent help with the process of one of your biggest financial transactions.

Sellers' costs can add up fast

Putting a home on the market can be an expensive venture, so preparation and planning can help avoid unforeseen costs, which can add up in a hurry. Here is a look at some of the major outlays you could face while selling your home.

Sales commission: This is the percentage of the sale that will be charged by the real estate agent if you list the home. The total can be 4 to 6 percent of the sale price of the home. Keep in mind that many agents will negotiate regarding their commission to help facilitate a sale.

Closing costs: These are expenses that the seller picks up as part of completing the transaction. Included in these costs are transfer taxes, prorated property taxes and legal fees. The fees can be as much as 2 to 4 percent of the home’s sale price. In some states, you prepay property taxes, which could mean you’ll get a credit at closing rather than a bill. You could also receive a refund of advance escrow payments you’ve made on your homeowners insurance. Be sure to check with a lender rather than assume you’re going to receive the funds.

Mortgage payoff: This is the difference between your outstanding principal balance and the payments you will make before your sale date. Additionally, there could be a cost incurred at closing, if your loan has a prepayment penalty. Confirm your calculations with your lender.

Pre-sale repairs and/or cosmetic fixes: These vary widely depending on a number of factors, including the age of the home and how well you’ve maintained it. Cosmetic fixes can be as cheap as $50 for several cans of paint, or much more extensive. Experts advise homeowners to get a pre-sale inspection or appraisal to identify defects and cosmetics improvements that can make the home more appealing.

Moving expenses: This is one area people rarely think about until it’s too late. Again, these can vary dramatically depending on the distance you’re moving, the size of your home and storage costs. Consider talking to your tax advisor about whether you can deduct all or part of your moving expenses.

Miscellaneous moving expenses: These are items such as utility deposits or the cost of new items for your new residence. It’s best to make a budget.

Finally, consult your tax advisor regarding factors that might affect your taxes resulting from the sale of your home.

Tips for Moving

Getting ready to move: Timeline and tips

Moving is a complicated process. Keeping up with belongings, family members, movers and a number of other tasks can be a daunting proposition. That means the more organized you are, the less stressful the move will be.

While the general timeline is flexible, here are some steps you should take to help your move happen effectively and efficiently.

About two months before you move, call several movers for estimates. Keep in mind that on-site estimates are usually more accurate. Once you choose a mover, discuss costs, packing, timing and insurance. It’s also a good idea to contact a tax professional about information on tax deductions regarding moving and what receipts you’ll need to keep.

Next, prepare an inventory of everything you own. Divide the list into three categories: things to be moved, things to be handled by you and things that will be left behind. You should handle anything that qualifies as a one-of-a-kind item, such as personal papers, jewelry, and photos. Also, ask the schools your children attend to forward the children's records to their new schools.

About six weeks before your move is the time to start familiarizing yourself with your new community. Contact the local chamber of commerce for information on schools, leisure activities and community events.

One of the next steps is to begin collecting the materials you will need for the move such as boxes, containers and other packing materials. It’s also time to register your children in their new school.

About a month before the move, contact your moving company to schedule the move date. Complete a change-of-address form with your local post office, and let your insurance companies know about your move so you can transfer all insurance on your home and belongings.

When you’re two weeks away from moving, contact the utility companies in your new community to get them connected. Make your final packing decisions, and start packing those things you don’t use often. Now is the time to clean and clear your home, including closets, the basement and the attic.

A week before moving is the time to tie up loose ends. If you’ve made a checklist of tasks, now is the time to look back through it to make sure nothing’s been overlooked or unaccounted for. Make sure your mover has a phone number and address where you can be reached if you’re not going directly to your new home.

On move-out day, make sure you’re present when the movers arrive. Confirm the delivery date and time at your new address. Communicate as much as you need with the movers. Remember it is your obligation to remain on site until everything is loaded. Always do a final walkthrough of the premises, and refrain from signing any documents until you have completed your final inspection to make sure nothing is left behind.

On move-in day, make sure you’re present when the movers arrive. You should get 24 hours notice prior to their arrival, which will give you time to arrange for unloading. Have your payment on hand for charges, and keep in mind that many movers will not accept a personal check.

Make sure the utilities have been connected, and plan to be available for your movers to help direct them in the unloading process. To prevent possible damage, televisions, computers, stereos and other electronic devices shouldn’t be turned on for 24 hours after delivery, allowing them time to adjust to room temperature.

Are you a move-it-yourselfer?

When it's time to move, you have several options. You can hire someone to handle the entire process, allowing professionals to pack your belongings and transport them to your new residence. Or you can handle the packing and turn the moving over to the pros.

If you are on a tight budget, you can do it all yourself.

There are a handful of advantages to hiring a moving company. Movers can save you time, particularly if you're not going to be able to do all the loading and unloading yourself. You will also avoid overloading yourself. The movers will handle the heavy lifting.

However, there are drawbacks. You may not feel entirely comfortable allowing strangers to handle your personal belongings. You will also need to spend some time researching and gathering information about various moving companies.

Moving is a big job, so ask yourself some of these questions before deciding to take on the chore yourself:

Do you have time to do the entire job?
How many items do you need to move?
Are you physically able to handle the loading and unloading on both ends of the move?
Do you have family and friends who will be willing to help?
How much are your possessions worth?

If one or more of these questions leaves you shaking your head, consider another option. One alternative is a pickup-and-delivery service. Moving companies that offer the service will drop off a trailer at your home and give you a couple of days to load your items at your convenience. You should have everything packed before the trailer is dropped off, and you can control the cost of your move because you only pay for the space in the trailer that you use.

After you've loaded the trailer, call the company. A professional driver then transports it to your new residence.

If you have large appliances and furniture that need to be loaded, and you can't round up enough friends and family to help, consider contacting a local moving company that hires workers by the hour. If you require help at your new home, contact a local moving company in that area and reserve workers to be present when your belongings arrive.

Planning, preparation can ease relocation

You have found the house of your dreams, and signed all the mortgage papers. What next? It is time to move in. For some, this part of the process might seem to be as complicated and frustrating as buying or selling, but it can be simplified just by being organized.

The best advice from experts is to be as involved as possible in the process. Do your own research on your new community and your new neighborhood. Ask questions every step of the way. Write the chamber of commerce and ask for an information packet. Familiarize yourself with what will become your new surroundings. By taking these steps, you’ll be able to minimize some of the stress that comes with making a move.

The toughest part of any move is planning. Loose ends such as changing your address, closing bank accounts and making sure everything takes place the same time as the move involves more than a little science.

The address change is one of the most important aspects of relocating. Contact your local post office with your new address as soon as you have it, ideally about four weeks before the move. Also notify credit card companies, periodicals to which you subscribe, and friends and relatives of your new address.

Plan travel and make the necessary arrangements. If flying, get your tickets ahead of time and make sure they’re in a secure place. If you plan to use a moving van, arrange for it. If you’re moving across the country, plan your route and determine where you’ll be making overnight stays.

Contact your local utility and phone companies and provide them with a date to end services. Make the same calls for your new residence, so you don’t move in without heat, water or electricity.

Round up moving supplies. This means boxes, bubble wrap, boxing tape and large black markers. Discount stores and grocery stores are generally good places to start looking for boxes.

Once you’ve resolved those challenges, it’s time to start packing. Again, planning is the key. Decide what room you want to start with. A good rule of thumb is to plan to pack one room a day. Keep in mind that it may take longer to pack larger rooms, so have an idea of how much time you will need and plan accordingly.

While packing, go through your belongings. Decide what you can live with and what you can live without. Keep in mind that many items can be purchased after you move into your new home. Divide everything into three categories: what you’re packing, what you’re tossing and what you’re giving away.

Pack the rooms you use the least first. This should limit the amount of time digging through boxes prior to the move. Label each box with three things: the room they were in or will be in; a summary of what’s in the box; and whether what’s inside the box is fragile. Resist the temptation to over pack boxes because they become difficult to carry or load.

Some other points to remember:

Pack your items carefully. Use sheets, blankets, pillows and towels to cushion items. Pack plates and glass objects vertically, without stacking them.

The heavier the item, the smaller the box it should occupy. If you can’t lift a box easily, it’s too heavy.

Keep your pets away from all activity during moving day.

Teach your kids your new address and phone number as soon as possible.

Pack your old phone books in case you need to call a neighbor or business from your new residence.

Make sure you have "open me first" boxes, which will contain items your family will need for the first night in the new home. Fill two boxes with snacks, medicine, towels, toiletries and other essential items to make the first night go smoothly.

Here are a few useful tips ...

Click here to see Tips For Buyers

Click here to see Tips For Sellers

Click here to see Tips For Moving

Tips for Buyers

Tips for Sellers

Tips for Moving