Michael Field

The process of buying the single most expensive investment of you life should really be treated as such...Even though we as Realtors conduct how ever many of these each year, we need to recognize the patience that's required in working with new home buyers. Most of the time agents do a poor job setting the expectations of purchasing a home. After you have finally found a home that is agreeable to your lifestyle, here is are the necessary steps to expect after you have settled on a price:

1. The attorney's approval: (2-5 Days from the signing of both parties, typically) In New York, just like anything else- attorneys are involved in the contract. They play an important role in overseeing the process for their respective client. During this stage, the attorneys will come together and submit thier acceptance of the contract or they may request certain changes be made in order to satisfy their acceptance. Even though you have a signed contract (as a buyer or seller), you need to be aware that until both attorney's agree on the contract, a seller can accept another offer & a buyer can walk for another property.
2. The inspections: (1-2 weeks from the signing of both parties, typically) This is customarily the only out of pocket expense that the buyer incurs before the closing. The typical inspections include "the main three" - structural, pest & radon. Other inspections include the well & septic if they apply to that particualr property. Generally, this expense could be anywhere from $300-1,000 depending on the inspections necessary.
3. The Mortgage Loan Commitment: (2-4 weeks from the signing of both parties typically) Depending on the loan officer (LO) or bank, the application is submitted after the inspections. The appraiser is usually sent out to examine the property's value by comparing it to similar properties that have sold within the last 6 months in a close proximity. Tracing the sale of properties back to 1 year was typical until the Fall of '09(ish). Once the file has gone thru all the underwriting & has been approved it's cleared for a close pending the successful title search & "other items"...
4. The Title Search; (3-6 weeks from the signing of both parties typically) In NYS the attorney arranges the title search & most times Real Estate attorneys have their own title companies. Once a clear title has been secured on the property, the attorney sends the report back to the bank for what usually is the last thing the bank needs in order to clear the file.
5. CLOSING: (3-6 weeks from the signing of both parties, typically) This is it!...Time for your walk thru. Next you sign away get the keys & CONGRATS your a home owner!

These steps are an abbreviated version to many of the other roles an agent, loan officer, attorney & title company play into the successful steps of a real estate closing however they do paint a general picture as what to expect!...If you'd like to go over this in more detail, now your talking about getting the HOME FIELD ADVANTAGE!- THATS A DIFFERENT STORY! YOU MUST CALL Michael J. Field of the FIELD TEAM at Keller Williams Realty in order to experience that at 518.871.9422.

I have had nothing but problems with the phone I bought 1.5 yerars ago. The salesman at the VZ store that I went to kind of talked me into this POS. It's this blackberry flip phone that must have been getting discontinued and I got suckered. Right after I bought the thing the new blackberry (storm? or curve) comes out and you think he would have mentioned the fact that they had a new model coming out. Right?...I guess I'll take responsibility but then this is where I started losing my patience...4 months into the phone, it wouldn't take a charge. A common problem that I have had with 4 different phones! SO each tiem they send me a new one - AFTER I PAY ANOTHER $50 for each PHONE - and it keeps happening. Last night was the last straw. My phone won't take a charge and I'm taking a STAND!!!!! NO MORE! Here's the hard part...How do you know what to buy? Here's bascially what I want out of my phone, (I'm hoping that some of you can help with any pointers of 1st hand accounts):

1. Need the phone to be able to sync with Outlook
2. Internet Access
3. Supra E Key to be able to open lock boxes or at least SYNC with the FOB
4. PIC's - my last phone LITERALLY stored like 8 photos and that was it! (people keep asking if I had pics of my kids and I had to tell them that this POS only held 8 PHOTOS so I couldn't get rid of what I had)....

Please help! Thanks for your tips/advice...Have a great weekend & Merry Christmas!

-Mike

If they say first impressions are everything, (which I agree with) how could an agent send a listing thru into the MLS as a "new" listing with poor photos? First off, it only stays on the hotsheet for 48 hours. Therefore you really have to take pride and get the best photos you can initially because that is when the house will be seen by that largest audience. If you aren't qualified to capture good angles/shots, then it's probably a good idea to hire a professional. There are photographers that specialize in this for a simple fee of around $100 per home, well worth it in the case that prompted me to write this am's blog...The other important factor that needs to be touched on regarding the "Hotsheet" is that when the listing gets inputted into the MLS your first target audience are the other agents in the MLS. If you don't have the listing looking as good as it needs to, how do you expect other agents to recommend to their buyers to view this home? In our case, the GCAR board of Realtors has about 3,000 agents. So each time I input one of our new listings, you are first marketing the listing to these members.

In selling a home, we all know the goal is to work together to sell the property for it's highest possible value in the shortest amount of time. As the homeowner, you need to be cognoscente of how your home looks online (with the photos) and if it isn't up to par that's a good conversation to have with your agent.

For recommendations or these photographers or other questions regarding the preparation of listing your home give a call (518) 669.1804 or email mike@thefieldteam.com.

Home Buying 101: First Time Homebuyers - Steps to a successful close (edit/delete)

The process of buying the single most expensive investment of you life should really be treated as such...Even though we as Realtors conduct how ever many of these each year, we need to recognize the patience that's required in working with new home buyers. Most of the time agents do a poor job setting the expectations of purchasing a home. After you have finally found a home that is agreeable to your lifestyle, here is are the necessary steps to expect after you have settled on a price:

1. The attorney's approval: (2-5 Days from the signing of both parties, typically) In New York, just like anything else- attorneys are involved in the contract. They play an important role in overseeing the process for their respective client. During this stage, the attorneys will come together and submit thier acceptance of the contract or they may request certain changes be made in order to satisfy their acceptance. Even though you have a signed contract (as a buyer or seller), you need to be aware that until both attorney's agree on the contract, a seller can accept another offer & a buyer can walk for another property.
2. The inspections: (1-2 weeks from the signing of both parties, typically) This is customarily the only out of pocket expense that the buyer incurs before the closing. The typical inspections include "the main three" - structural, pest & radon. Other inspections include the well & septic if they apply to that particualr property. Generally, this expense could be anywhere from $300-1,000 depending on the inspections necessary.
3. The Mortgage Loan Commitment: (2-4 weeks from the signing of both parties typically) Depending on the loan officer (LO) or bank, the application is submitted after the inspections. The appraiser is usually sent out to examine the property's value by comparing it to similar properties that have sold within the last 6 months in a close proximity. Tracing the sale of properties back to 1 year was typical until the Fall of '09(ish). Once the file has gone thru all the underwriting & has been approved it's cleared for a close pending the successful title search & "other items"...
4. The Title Search; (3-6 weeks from the signing of both parties typically) In NYS the attorney arranges the title search & most times Real Estate attorneys have their own title companies. Once a clear title has been secured on the property, the attorney sends the report back to the bank for what usually is the last thing the bank needs in order to clear the file.
5. CLOSING: (3-6 weeks from the signing of both parties, typically) This is it!...Time for your walk thru. Next you sign away get the keys & CONGRATS your a home owner!

These steps are an abbreviated version to many of the other roles an agent, loan officer, attorney & title company play into the successful steps of a real estate closing however they do paint a general picture as what to expect!...If you'd like to go over this in more detail, now your talking about getting the HOME FIELD ADVANTAGE!- THATS A DIFFERENT STORY! YOU MUST CALL Michael J. Field of the FIELD TEAM at Keller Williams Realty in order to experience that at 518.669.1804.