Sonny Kwan

What Is an Inspection?

A home inspection in Seattle takes place after you've made an offer on a home that the seller has accepted. A professional will examine the home to ensure it meets specific codes and laws as set by the City of Seattle, King county, and state of Washington. Put simply, the purpose of a home inspection is to make certain that the home you're about to buy doesn't have any major defects of problems that will cost you money down the road.

What Are They Looking for?

A home inspection usually includes an examination of a home's major systems, such as heating and air conditioning units, plumbing, and electrical systems. It might also include looking at the roof, attic, insulation, walls, ceilings, floors, windows, foundation, and basement or crawl space. Once the inspection is over, the inspector will prepare a report detailing what he or she found. If any major repairs are needed, you will work with your Realtor® to determine how to proceed.

Finding a Good Inspector

Your Realtor® is likely to know someone who they've worked with in the past that they'd recommend. However, if you'd rather find an inspector on your own, you can start with home inspection organizations such as the American Society of Home Inspectors or the National Association of Home Inspectors. Once you have narrowed the field of inspectors, ask to see their records of experience as well as referrals from past clients. Also, make sure they are experienced in Seattle and King county residential inspections. You can ask them for an estimate, too. When you've found the right inspector, schedule a time for the inspection, and be present as it's going on. You'll learn more about the home you are buying and can ask the inspector questions. The inspector might also point out things he or she wouldn't mention in the report but that you should be aware of nonetheless. Any inspector that doesn't want you around during the inspection should raise a red flag.

Let Me Help!

As your Realtor®, finding a home inspector in Seattle is just one of the services I offer to you. If you'd like help finding an inspector, I'd be more than happy to put you in touch with one or two with whom I've worked in the past. You can also visit www.ashi.org or www.nahi.org to view inspectors who are certified through the American Society of Home Inspectors or National Association of Home Inspectors.

What Is A Short Sale?

A short sale is a work out program that allows the customer to sell the home for less than total amount owed. Upon final approval, a short sale can help Seattle homeowners avoid further collection activity or foreclosure action.

Documents Required To Begin An Application

From the REALTOR

• Fully executed listing agreement

From the Homeowner

• Signed and dated financial worksheet listing all monthly expenses.

• Signed and dated hardship letter (why they are unable to pay the mortgage).

• Letter authorizing the REALTOR access to information on the account. It must be dated and include the last 4 digits of the borrower's Social Security Number, their signature, the full account number and the property address.

Additional Information

• Short sale approval is good for 30 days. If closing does not occur within 30 days, the entire short sale package may need to be resubmitted with updated information, or the approval process may need to start over.

• REALTOR or homeowner inquiries should be directed to the negotiator assigned to the file, whose information will be communicated during the introduction call.

• REALTORS are generally allowed 5% to 6% commission based on investor rules. If dual agency applies, maximum commission is 5%. Some investors operate on a reduced commission structure and the actual commission schedule can be confirmed during the introduction call.

• This must be an "arms-length" transaction. The property may not be sold to anyone the seller has a close personal or business relationship with including family, friends or neighbors.

• During the introduction call the following will be addressed:

- Commissions

- Fees and costs

- Pricing of the property

- Timeline

• In order to reduce the 37 day response time the liquidation team is strongly recommending that the homeowner and/or REALTOR notify their Home Mortgage of their intention to sell their property as soon as the listing contract is signed. This will allow us to complete the property valuation and borrower financial evaluation prior to receiving an offer. This significantly reduces the short sale decision time on a submitted offer.

• In some cases investors and/or PMI companies require the mortgagors to sign an unsecured note for some or all of the difference between the net proceeds from the sale and the total amount due. This is communicated as part of the response on a short sale offer.

This is our estimated timeline based on business days and assuming all documents are submitted in completed form and timely.

• Complete short sale application received

• Short sale application activated

• Complete application assigned to negotiator

• Incomplete application will delay process

• Complete short sale application received

• Short sale application activated

• Complete application assigned to negotiator

• Incomplete application will delay process

Total Process (Business Days) 37• Complete short sale application received

• Short sale application activated

• Complete application assigned to negotiator

• Incomplete application will delay process

• Negotiator initial review

• Introduction call to REALTOR and homeowner

• Property evaluation completed (appraisal or interior BPO per investor requirement)

Additional Steps:• Mortgage insurer approval

• Investor approval

• Additional liens negotiated by REALTOR

• A completed net sheet/HUD (our payoff is not necessary)

• Fully executed purchase contract with all pages initiated by buyers(s) and seller(s).

• Buyer pre-qualification letter or proof of funds if cash offer.

All items above complete• Application decision

• Decision letters issued

Here I am taking a walk down my street in Magnolia, it's so quite and peaceful out here it's kinda weird. When I door knock the neighborhood on a clear day, people are sometimes apprehensive, but today seemed so much different, we're just out for a walk and people were genuinely curious to see why we were out today, they peek out their windows, look up and ask if we need help, are we stuck somewhere?. I guess when the weather is bad like we got it here in Seattle this past couple of weeks people become very helpful to make sure their fellow man and woman are okay and safe, That's why I like living here in the Northwest.

1. Professional Photography/Streaming Video- wide angle or buy a Nikon or Canon ($1000) and learn to shoot yourself, saves you time. Just think how the sellers react when you are at the listing presentation with the professional camera ready?

2. Staging, work with what is there in the home or use a stager.

3. Landscaping crew ready to make the home curb friendly

4. Being ready to be on the market 3 months or longer = upkeep

5. Use maintanence crew for upkeep and property management

6. Homefeedback.com with 5 multiple questions for agents

7. Realtor.com

8. Two flyer boxes on yard sign with plenty of flyers, have 12 other listings on the back flyer with 800 call capture number and sell your other listings.

9. 1000 just listed postcards send out and door knock 100 homes around the listing

10. Tell agents ahead of time of the listing ( I will send my buyers to your listing if you send yours to mine okay?)

11. Visit the property at least once a week and provide the seller with a new CMA

12. Spa or massage certificate for stressed out sellers

13. Include the 30 day marketing plan

14. Hold open houses that are geared at attracting 100 people to come through the first day. Pay attention to how advertisers get you to come into their store, and apply that here.

a. Hold opens at odd times like 8am til 8pm

b. Use 30 or more open house signs and directional arrow boards.

c. Greet potential clients and home seekers outside the door ( not inside ) be attentive and ask them questions, get their cell number always! close for another appointment there, not from a returned call later.

d. keep flyers out of the box and away from them until they have completely viewed the home, put the flyer box upstairs in the bedroom,it buys you time to qualify them. otherwise they will take it and leave.

e. leave the sales price off the flyer, If they are really interested, they will connect with you and talk to you about the home.

I had an Listing appointment today that was set yesterday when there was hardly any snow on the ground. As the photo illustrates, we got a blizzard and I confirmed with the seller that I was on my way over. Suit and tie and my Pradas..ouch , the snow was six inches deep and still coming down, but I knew I could make it to her place in a South Lake Union Seattle highrise with ease. She answered the phone with her deep European accent and insisted that I not come over due to the fact that she feared for my safety on the road over to her home. I wanted to be responsible and do what I promised and keep the appointment but she insisted that we reschedule. I knew that this storm would last at least until mid-week and putting it off would throw off the momentum, but I accepted her request.

How would you handle this type of circumstance? Would you have gone to the appointment anyway?

I'd like your feedback please.

With much Gratitude!