Tag: homeowner

Important Steps in the Process of Home-selling

Posted by David Chang on with 1 Comment

When you are in the process of selling your home, there are a lot of things to consider. For example, it is essential for you to decide which real estate agent is the perfect match for you. You also need to recognize the best price for your home, by considering factors like location and condition.

The home-selling process can be overwhelming, but it is important to follow these important steps that will bring you ease:

List your home with the help of your agent– Having a professional agent by your side while listing your home is the first step in the home-selling process. Your real estate agent will inform you of specific improvements and modifications that they believe should be made to improve the stability of your home. Along with this, your agent will help you create a customized marketing plan, which will include the best price for your home in the current market.

Prepare your home– Preparing your home prior to putting it on the market is the best way to give potential buyers a good first impression. Your real estate agent will assist you in determining what ways you can best prepare your house. Some specifics that you should focus on that pertain to showcasing your home include cleanliness, paint, curb appeal, and odors.

Determining the purchase price– Compromising a purchase price with your buyer is important, so that both sides of the agreement feel that the price is fair. Allow your agent to work on negotiating the best price for you, while also keeping the buyer satisfied.

Be ready for the home inspection– Once the price of your home is agreed upon with your buyer, an inspection of your home comes next. The structure of your house will be evaluated, including the roof, basement, walls, and doors. The home inspection will serve to point out any flaws in your home and address a variety of concerns. Be present during the home inspection, so you can discuss any concerns you may have.

The closing– The final step of the home-buying process is the closing, which will be taken care of mostly by the real estate company. The closing consists of money being paid out to the buyer from the seller. Your agent will help you with the closing documents that are necessary at the closing of your house. The final documentation includes but is not limited to mortgage, deed, and homeowner’s insurance policy. All of the final documentation will be reviewed by all parties involved in the home-selling process.

To receive professional assistance during the home-selling process, contact us at Chang Legal today.

The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.  The transmission of the Website, in part or in whole, and/or any communication with us via Internet e-mail through this site does not constitute or create an attorney-client relationship between us and any recipients.

Tips To Save Money When Purchasing A Home

Posted by David Chang on with 2 Comments

Purchasing a home is a very exciting experience, but will be your biggest investment during your lifetime. There are many responsibilities that come with owning a home, from mortgage to utility bills, it can get expensive overtime. However, Chang Legal wants you to save your money by following these shortcut tips:

Don’t ignore essential maintenance issues: It is essential to not dismiss any maintenance problems that may occur. Whether your roof is leaking or your pipes burst, there is no landlord for you to call. It is crucial to get these maintenance problems solved immediately to prevent further damage to your home.

Don’t overspend furniture/remodeling: You have just spent a major section of your life savings on your home, you do not want to overdo the spending on furniture. In addition, you do not want to make any rash decisions with remodeling the home you just purchased.

Repair Vs. Improvement: The difference between repair and improvement in regards to the IRS is that a repair will not grant you more money if you decide to repair a broken utility. In contrast, if you make an addition, better known as an improvement to the property, you will receive more money if you put the home on the real estate market. For instance, if you purchase a home with a broken washer and a leaky roof, you will not receive anymore money for repairing these infractions. However, if you add air conditioning to the home, the value will increase by the IRS.

Insurance: As a new homeowner, you want to guarantee that you are properly insured. This means you want to ensure you have enough coverage to cover your whole property if a tragedy occurs such as a fire or natural disaster. In addition, if you have others relying on you to provide for them, such as a child, then you want to have life insurance and make sure they are listed as a beneficiary. This will prevent the possibility of the IRS taking the property away from them if you pass unexpectedly.

It is essential to get in contact with a real estate attorney, such as us at Chang Legal, to learn more about the laws surrounding being a homeowner. With over 15 years of practicing real estate, we are here to guide you through being a new homeowner.

For further information on how to save money as a new homeowner or to learn more about how we can support you, contact Chang Legal today.

The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.  The transmission of the Website, in part or in whole, and/or any communication with us via Internet e-mail through this site does not constitute or create an attorney-client relationship between us and any recipients.