Jean Powers CRS,PMN,ASP Broker, Northern California

Ready to close the deal? Maybe not.

Sometimes unforeseeable issues arise just prior to closing the sale. Hopefully, with negotiation, most of these have a workable solution. Unfortunately, this is not always the case. But don't panic. Another buyer might still be found who is willing to accept the house as is.

Imagine that your prospective buyers are a couple with young children. They envision your unused attic as the perfect playroom for the kids but, before closing the deal, they request an inspection to see if it's safe and also if they will be able to install a skylight to provide natural light to the new space.

This inspection reveals that under the shingles that are in good condition is a roof that will only last another year or two. The prospective buyers immediately balk, not wanting to incur the time and cost of replacing the roof. Their plans were to move in and only have to spend time and money renovating the attic. The additional cost of the new roof, they say, is just too much.

At this point, you sit down with the prospective buyers and calmly discuss the situation and how it can be solved to the benefit of all. First, you agree to get another professional opinion on what really needs to be done. Inspectors are only human, and are not infallible. Once the extent of the damage is agreed upon, you can jointly decide what to do about it. While the buyers hadn't planned on that expense, you show them that instead of a limited roof life that they would get with most existing homes, they'll have a new worry-free roof that won't cost them in repairs for the next decade or so. Since the roof wasn't in as good shape as you had thought, you agree to lower the purchase price to help offset the cost of the new roof.

By negotiating calmly and looking at all possibilities, what could have been a "deal breaker" can be turned into a win-win situation for both the buying and selling parties. In other cases, the most workable agreement for both parties might be for the deal to be called off. The seller can always find another buyer and the buyer can always find another home.

To protect yourself against last minute "buyer's remorse," make sure the purchase contract anticipates and closes as many loopholes as possible after all known defects have been fully disclosed.ala

Living in Alameda, California all my life is quite an experience. I grew up on Bay Farm Island. We all took a school bus to school on the Main Island over a shabby wooden bridge which is now a nice modern draw bridge. A few years ago a bike bridge was built with much controversy. Public transportation did not run out there on the weekends. There were four streets of residences in those days. The rest was farmland, a golf course and water. Actually Bay Farm Island is not an island at all and is located next to the Oakland Airport. In the 80's a new development was built on landfill called Harbor Bay Isle. There is now a division of Bay Farm Island and Harbor Bay Isle. To arrive on the Main Island people must drive over one of four bridges or go through the Posey Tube. Our community is unique as we have a great beach which looks over to San Francisco. Many homes and condominiums have a great view. I am impressed with the way the city has improved our shopping districts through out the town. Our historical Alameda Theater has finally been refurbished and almost looks like it did when I was a child. Our Park Street district has really flourished and now we see Alamedans walking, dining, sitting outside the coffee shops during the evening which never happened in the past. The old Naval Air Station still needs improving but is flourishing a bit too. A majority of our homes consist of the Grand ole Victorians, Craftsmans and older bungalows. The largest of our Victorians are located in what we call "The Gold Coast" which in late 1800's, early 1900's were the vacation homes for wealthy San Franciscans. There is so much more to say about my little island. Even though we have grown and changed it is a great place to live and now is the time to purchase a home!!Come visit sometime.

i have my staging designation and have taken Barb Scwarz's class twice. She is very vibrant and energetic and I learned a lot from taking her classes on staging. The most important thing that I learned was how to use the seller's furniture and other items to make the home look so modern and great! It costs the seller very little to have their home staged using their stuff... Also, there is a difference between staging a home for sale and using an interior decorator. Using an interior decorator is great if you plan on living in your home. Staging is a tool in which you decorate the home in order to sell it not live in it!! Here is a little bit of info from Barb's class!

A House is Not a Home

Your home is not for sale, but your house is!

Getting Mentally Prepared

To gain an edge in your marketplace, you must be priced right and look better than the competition! The best, proven way to package your house and gain that competitive edge is to...

• That product is your house. Your home will become the new residence you choose-How exciting!

• You want to sell that product.

• As with any product for sale, your house will have to be marketed.

• Before you can market it, you must determine how you will package it.

• You want to package your house so that it is attractive to customers (in this case, the home Buyer) because you want them to choose your house and not the competition.

To gain an edge in your marketplace, you must be priced right and look better than the competition! The best, proven way to package your house and gain that competitive edge is to...

Stage It!!

• Pre-Approval: Sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.

• List of Needs & Wants: Make lists. The first should include items you cannot live without. The second list is your wishes, things you would like to have but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.

• Find the Right Professional: Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.

• Organize: In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:
  1. Maps with your areas of interest highlighted.
  2. A file of the properties that your agent has shown to you, along with ads you have cut out from the newspaper.
  3. Take notes as you see properties
  4. Instant or video camera to help refresh your memory on individual properties, especially if you are attending a series of showings.
  5. Location: Look at a potential property as if you are the seller. Would a prospective buyer find it attractive based on school district, crime rate, proximity to positive (shopping, parks, freeway access) and negative (abandoned properties, garbage dump, source of noise) features of the area?
• Visualize the home with your furniture: Are the rooms laid out to fit your needs? Is there enough light?

• Does this home fit your needs: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don't make a hurried decision that you may regret later.

• Make sure you are doing the right thing: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
  1. Include inspection & mortgage contingencies in your written offer.
  2. Have the property inspected by a professional inspector.
  3. Request a second walk-through to take place within 24 hours of closing.
  4. You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).
• It can be overwhelming! Choose the right Realtor! That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email me or call me directly to discuss any of these matters in further detail.