Our Process
Take a look at how we make it easy to buy and sell your home.
Home Selling Tips
Embarking on the journey of selling your property is a significant decision. Seeing that "SOLD" sign is a moment of accomplishment, but the road to get there is paved with many decisions and steps. One of the most pivotal choices you'll make is selecting a real estate firm and a dedicated agent to guide and support you throughout the process. They'll not only help determine the best listing price and marketing strategy for your property but will also be your advocate, ensuring your interests are prioritized at every turn.
Showings
Upon selecting your Logic agent and having your home in tip-top condition, it's time for prospective buyers to see what you're offering.
A showing is often organized as an open house, which is a predefined window of time where prospective buyers can freely tour the home without prior scheduling, or through a personal tour coordinated with either the homeowner or the listing agent.
To make sure your home is in its best shape for potential buyers, seeking advice from your Logic agent can be invaluable. They can offer tailored suggestions to make sure your property stands out in the marketplace. Here’s a two-phased approach you might consider:
Initial Preparations (Before Photos & Showings):
- Engage in thorough cleaning.
- Consider painting portions or the entirety of the house.
- Address minor fixes like sealing windows or tubs.
- Assess if major renovations fit within your budget, such as countertop or appliance upgrades.
- Strategically arrange furniture to emphasize the strengths of your space.
- Minimize personal touches, like removing family photographs.
- Organize and declutter all visible areas and storage spaces.
- Tidy up and box away extra items from closets.
- Combat and eliminate any persistent odors; this may involve deep cleaning or removing older rugs.
- Introduce a cohesive color palette through decor elements to enhance the warmth of your space.
- Improve indoor lighting, possibly by changing to brighter bulbs.
- Give attention to the outdoor area with refined landscaping.
- If required, use power-washing techniques on decks and pathways.
Three Key Points to Aid the Selling Process:
- Make yourself scarce during showings. Buyers tend to feel more comfortable when they can freely explore without the homeowner present.
- Ensure your home is available for viewings. Flexibility is crucial. Even if a showing is scheduled during your dinner or on the weekend, an accessible home is a viewed home.
- Be receptive to feedback. Listen to comments and suggestions from potential buyers or agents, and make adjustments to enhance the appeal of your home.
Partnering with your Logic agent will optimize your property’s visibility, potentially leading to a swifter transaction.
Offer Analysis
Congratulations! Your Logic agent has informed you of an offer on your property. The next step is to scrutinize this proposal and decide your next course of action.
A buyer’s offer for your property is presented through a signed purchase agreement, detailing the following:
- The proposed purchase price.
- An outline of the buyer’s payment method, be it cash or backed by pre-approved financing.
- Stipulations or terms, which could range from requests for assistance with closing costs to various contingencies like the sale of the buyer’s current home, securing the mortgage, a favorable home inspection, and a successful appraisal.
- The preferred closing date.
- A sum for earnest money deposit.
- A stipulated duration for the validity of the offer.
Upon receiving an offer, it’s pivotal to consult with your Logic agent. Together, you’ll need to evaluate:
- The offered price.
- Whether contingencies are presented or waived.
- The source of the purchase funds – is it an all-cash offer, secured through a well-known local lender, an established online financial entity, or perhaps an unfamiliar lender from a different locale?
- The proposed closing and possession dates, ensuring they align with your timeline.
- Any specific demands, such as requests for certain items to be included in the sale or special inspection requirements.
In cases where multiple offers are on the table, your Logic agent will be instrumental in advising you. Potential courses of action include:
- Accepting the superior offer. If a particular offer overshadows the rest based on its terms and feasibility, it might be beneficial to accept. However, be wary of high bids with precarious financing or without clarity on addressing potential low appraisals.
- Inviting all buyers to submit their best offers by a specific deadline.
- Countering a near-perfect offer to fine-tune the terms to your preference.
Negotiations can be fluid, with both parties making adjustments until mutual agreement is reached. In this phase, your Logic agent’s expertise and market insights will prove invaluable.
Inspection Readiness
A majority of potential buyers will want a comprehensive home inspection before sealing the deal. Your preparation, combined with advice from your Logic agent, will set the stage for this process.
A home inspection is a comprehensive assessment of your property’s structural and system elements by a professional home inspector. The ensuing inspection report provides buyers with insight into the property’s condition, potentially influencing their decision to withdraw their offer based on significant issues or to negotiate repairs if the contract stipulates a satisfactory report. In certain scenarios, the home inspection serves merely as an informative tool for the buyer without influencing negotiations.
During the inspection, the inspector will evaluate:
- The property’s structural components, including the foundation, beams, and flooring.
- The condition of the roof.
- Mechanical setups, such as heating and air conditioning systems.
- Appliances to determine if they are operational; however, standalone appliances may sometimes be omitted.
- Plumbing components to identify potential leaks, rust, and assess water pressure.
- Electrical configurations to spot any grounded outlets or code violations.
- Potential safety concerns like stair stability, handrail security, mold presence, or chimney upkeep.
The inspector typically won’t evaluate certain specialized or hard-to-reach components, including:
- Septic setups.
- Water wells.
- Buried pipelines and irrigation systems.
- Swimming pools and hot tubs.
- Playground apparatuses.
In anticipation of the home inspection:
- Ensure your property is clean.
- Secure or relocate your pets.
- Check that all light fixtures are functioning.
- Empty appliances like washers, dryers, ovens, and dishwashers, in case they undergo inspection.
- Confirm easy access to areas such as attics, crawlspaces, garages, and external sheds.
- If any malfunctions are present, leave a note detailing the issue and any repair plans.
- Provide any records pertaining to property maintenance and repairs.
- Leave contact details for the inspector in case of queries.
- Vacate the property during the inspection.
Following the release of the inspection report, collaborate with your Logic agent to strategize on addressing any concerns raised by potential buyers. The ensuing discussions might encompass negotiations with buyers, opting to undertake repairs, offering financial compensation for buyers to manage repairs, or providing evidence that flagged issues have been rectified. Your Logic agent will be instrumental in navigating these post-inspection deliberations.
Preparing for the Appraisal
As your sale progresses, there's an important checkpoint ahead: the property appraisal. Your Logic agent will be instrumental in guiding you through this phase.
An appraisal provides an unbiased valuation of your property and primarily benefits the buyer and their lender. Even though it’s the buyer who foots the bill for the appraisal, the appraiser actually represents the lender’s interests. While there might be some similarities in what a home inspector and an appraiser look at, the appraisal’s ultimate goal is to determine your property’s value rather than its condition.
The appraisal process includes several methods to ensure an accurate valuation:
- Analysis of comparable properties in your vicinity that share similarities in size, age, and condition.
- Evaluation of your home’s structural and system health.
- Measurement of the property’s square footage.
- Count of bedrooms and bathrooms.
- Consideration of the property’s location.
- Assessment of the quality of integral components like flooring, plumbing, and electrical systems.
Beyond analyzing data about other properties and the general value trends in the neighborhood, appraisers also conduct an on-site evaluation.
To ensure a smooth appraisal:
- Furnish a list detailing significant home improvements, including information about the age and current status of essential components like the roof, HVAC system, and household appliances.
- Produce any permits associated with home upgrades.
- Clean and tidy up your property.
- Ensure the appraiser can access all sections of your home, such as the garage, storage sheds, attic, and crawlspaces.
- Secure or relocate any pets.
- Ideally, leave your property during the appraisal or minimally remain unobtrusive.
The appraisal might trigger further negotiations if the derived property value is below the agreed sales price. This is because the appraised value determines the maximum loan the lender is willing to offer the buyer, exclusive of the down payment. If there’s a discrepancy due to a lower appraisal, potential resolutions, depending on the contract specifics, could involve:
- Requesting the buyer to bridge the gap between the loan amount and the sales price with additional funds.
- Adjusting your selling price to match the appraised value.
- Agreeing to share the difference with the buyer.
- Opting to dissolve the contract.
Your Logic agent is equipped with the expertise to guide you through potential appraisal-related challenges, offering advice that aligns with the contract stipulations and prevailing market dynamics.
Finalizing the Sale
While the thought of your next chapter is exciting, it's pivotal to remember that until the sale concludes, there are still responsibilities on your end. Your Logic agent will ensure you're on track.
Before the closing day, ensure to:
- Address any repairs stipulated in the contract.
- Retain all relevant documentation like receipts, invoices, and before-and-after pictures of the repairs.
- Compile all appliance manuals and warranties for the new homeowners.
- Engage a moving company.
- Schedule utility service termination for the day post your move.
- Update your mailing address.
- Thoroughly review settlement papers, especially the settlement statement.
- Validate the accuracy of the property survey.
- Clean the property.
- Get ready for the buyer’s concluding walk-through.
Your participation in the closing might not be mandatory. It’s wise to consult with your Logic agent and the settlement agency to determine the best course. The possibility exists for you to sign all required paperwork ahead of the actual closing date. From the sales proceeds, the seller’s expenses that get deducted encompass:
- Outstanding mortgage balance.
- Commissions for real estate.
- Prorated charges like property taxes, utility bills, homeowner’s insurance, and any association dues.
In situations where your move is scheduled post-closing, coordinating a rent-back agreement with the buyers becomes necessary. Your Logic agent can assist in facilitating the necessary paperwork for this. If you’re relocating, the buyers will conduct a final review of your property a day before the closing to verify its condition. Should they identify any discrepancies, your agent will guide you on the best approach. Whether you are present at the closing or not, ensure the new homeowners receive all house keys, alarm codes, garage remote controls, and keys for mailboxes or gates.
Upon concluding the closing:
- Expect the sales proceeds, usually via a wire transfer.
- Terminate your homeowner’s insurance “post-close” to ensure you remain covered throughout that day.
- Retain all closing documentation and records of home improvements for tax purposes.
Congratulations! With the invaluable support of your Logic agent, you’ve achieved a successful home sale.
Home Buying Tips
When purchasing a home, it's vital to prioritize location, research the local market, and set a realistic budget. Always secure a pre-approved mortgage before house hunting to understand your spending limit. Choose a reputable real estate agent familiar with the area and enlist a professional inspector to uncover potential problems with any property you're serious about. Remember, buying a home is a significant investment; take your time, be well-informed, and never hesitate to negotiate for the best deal.
Home Visits
We'll schedule in-person tours of the homes you've picked out, so we can jointly figure out the perfect match for you.
- Determine your budget, forecast your monthly commitments, and secure a pre-approval letter. This will position you as a serious contender when placing an offer.
- Collaborate with your Logic agent to refine your list of home priorities. Decide what holds more weight for you: the home’s location or its features.
- Preview homes through the LogicRE.com website to eliminate those you won’t need to visit in person.
- Chart out a property visit plan alongside your Logic representative.
- Usually, you’ll team up with your Logic agent to tour homes.
- Most times, homeowners won’t be around, allowing you the liberty to explore at your own pace.
- Buyers frequently have an instinctive response to a property. While first impressions matter, it’s always good to discuss with your agent about the home’s value and perhaps reassess your preferences based on what’s attainable within your budget.
Occasionally, buyers stumble upon their dream home on their very first outing, while others might sift through 50 properties before landing on “the one.” It’s wise to explore a handful of options for a broader perspective. However, there are times when a home just resonates, and you instantly feel it’s where you belong.
- Focus on the permanent fixtures and features of the house, looking past the temporary decor and staging.
- Assess the overall condition of the property.
Document your visits with photos and jot down key points. - Think about potential upgrades or renovations and make a note to explore associated costs later.
- Don’t just limit yourself to the interiors; examine the exterior and get a feel for the neighborhood. Your Logic agent can provide valuable insights and data about the area.
- Identify nearby conveniences like commute paths, schools, shopping hubs, eateries, parks, and other facilities.
- For condos or properties in a homeowners association, ensure you understand the associated fees and regulations to determine if they align with your lifestyle.
Make an Offer
Once you've pinpointed your top choice, team up with us to place an offer on the home.
Your Logic agent will provide the latest standardized offer forms that align with state and local regulations.
- Offered amount
- Terms – which may encompass requests for closing cost assistance or conditions like securing financing and conducting a home inspection
- Desired date for closing
- Earnest money deposit – seek advice from your Logic agent on the suitable deposit amount, factoring in local norms and the prevailing market
- Inclusion of a final walk-through provision
- Duration until the offer expires.
Loan Conditions: While it’s common to rely on financing rather than cash, ensure your offer includes a provision that releases you if mortgage finalization falls through within a set timeframe. Having a loan pre-approval is great, but safeguarding your interests is essential.
Property Assessment: You can condition your proposal on receiving a positive home inspection outcome within a specified period. This ensures you’re not caught off guard by unforeseen costly repairs.
In a hot property market, there’s a chance you’ll be up against other potential buyers. Here’s where your Logic representative becomes crucial: they’ll guide you in crafting an offer that stands out. Leveraging real-time market insights, your Logic agent can help make your proposal more appealing. When faced with multiple offers, sellers have a few options:
- Pick the most favorable offer.
- Respond to all offers, seeking improved terms or prices.
- Negotiate with an offer that aligns closely with their expectations.
Together, you and your Logic agent can discover the sellers’ priorities, such as a preferred move-out date. You might also consider skipping some contingencies, revising your offer amount, or penning a heartfelt note expressing your admiration for the home.
Sellers might choose to accept your proposal outright, or they could respond with changes to certain conditions you’ve set. You have the option to either agree with their counterproposal or make adjustments and counter back. The deal is sealed when both you and the sellers come to a mutual agreement on all conditions.
Having a Logic representative by your side is invaluable during these negotiations, guiding you through the intricacies of the purchase terms.
Execute Contract
The pivotal time between putting forth an offer and sealing the deal through a contract is essential. Keep tight communication with your Logic agent to ensure you're armed with the knowledge to make wise choices.
Consult with your Logic agent to clarify the essential aspects of your extensive contract, including:
- Ensuring all details are accurate, such as the proper spelling of your name and the exact property address.
- Noting the contract’s commencement date, which is crucial given the time-sensitive nature of your contingencies.
- Enumerating all contingencies, like the stipulation that the purchase hinges on financing, an appraisal, a satisfactory property assessment, or potentially the sale of your existing home.
- Seller’s property disclosure details, subject to your state’s regulations.
- A comprehensive rundown of what’s included with the property.
- An outline of necessary inspections, including general property checks and pest evaluations.
- Insights on the move-in timeline.
- Occasionally, particularly when your offer relies on selling your current home, the seller might introduce a “kick-out” clause. This allows the seller to entertain and potentially accept a subsequent offer if it arrives before your current residence sells.
Your Logic agent is there to offer guidance, but the final call rests with you. It’s about gauging how much you desire a specific property and determining the compromises you’re ready to make. Consider walking away when:
- Competitive bidding significantly inflates the price.
- The home’s appraised value falls short of your proposed offer.
- A property assessment reveals major issues that would be costly to fix.
- Sellers seem reluctant to undertake sensible repairs.
- You come across homeowners association guidelines that don’t align with your preferences.
Your Logic agent will assist you in being vigilant about:
- Overambitious timelines: Ensure you have adequate time to organize a property inspection, receive its findings, and secure financing.
- Consequences of not meeting deadlines: Failing to adhere to set timelines might forfeit your right to cancel the agreement and retain your deposit.
- Clarity on inclusions: If uncertain about which items come with the property, seek clarification from your agent.
- Notifications from your financing institution.
The National Association of REALTORS® highlights that the primary causes for contract disruptions or delays are due to issues uncovered during home inspections, financing hurdles, or appraisal discrepancies. Reach out to a Logic agent to adeptly guide you through the nuances of a property transaction contract.
Book Your Home Inspection
Immediately after your offer gets the nod, pencil in your home inspection. If you're diving in during a peak buying period, snagging an available inspector might take a bit. Lean on your Logic agent to guide you towards dependable home inspectors.
Your home inspector will meticulously assess a comprehensive list (spanning over 1,000 items) encompassing systems, appliances, and structural elements in the property. Following this, you’ll receive a detailed report highlighting potential concerns and anticipated maintenance needs. Based on this information, you can determine whether to reconsider the purchase, request the seller to address specific repairs, or simply gain insights about the property’s condition, especially if you’re looking at an “as-is” purchase.
The inspector will assess:
- Fundamental structures, including the foundation, beams, and flooring.
- The state of the roof.
- Essential systems like heating and cooling.
- Appliances to ensure they’re operational.
- Plumbing, checking for leaks, rust, and adequate water pressure.
- Electrical setups for compliance and potential hazards.
- Safety concerns, including stair stability, handrails, potential mold presence, or chimney upkeep.
You and your Logic agent should be present during the home inspection to gain insights into home upkeep and to personally witness any identified issues. The inspector will be available to address questions in real-time, so if there’s something you’re uncertain about or find concerning, don’t hesitate to inquire.
While it’s up to you and your Logic agent to decide if anything from the inspection report needs negotiation, consider posing these questions to the inspector:
- Are the identified concerns significant or minor?
- What are the solutions for these issues?
- Can you provide a repair cost estimate?
- Is there a need for specialized inspections, like from an electrician or structural engineer?
- Are there tasks I should address post-move?
Your seasoned real estate agent will be your primary guide in grasping the home inspection’s implications.
The Home Warranty
Some sellers offer a home warranty during the listing period, which then transfers to the buyer post-sale. Discuss with your agent about either negotiating this perk from the sellers or getting one on your own.
A home warranty plan offers coverage for certain systems and appliances in your home. With an annual premium, the warranty commits to covering the costs of repairs by partnering with local contractors. While you’ll shoulder a deductible or service charge, the bulk of the repair cost is covered.
For buyers of older homes, especially those with appliances over four years old, a home warranty can offer assurance against unexpected repair costs and the hassle of finding a trustworthy contractor. For newcomers to homeownership or those with a tighter budget, this could be a game-changer. However, if you’ve got a hefty emergency fund, DIY skills, or reliable contractor contacts, a warranty might be less essential. Rely on your real estate agent for contractor referrals. For brand new homes, builders often provide warranties covering structural issues for up to 10 years and other items for shorter periods, diminishing the need for a separate home warranty.
When deciding on a warranty, team up with your Logic agent to evaluate:
- The warranty provider’s credentials and licensing in accordance with your state’s regulations.
- Important details – this means diving into the exclusions and restrictions.
- Clarifying coverage inclusions and exclusions.
- Understanding coverage caps – as they’ll only foot bills up to a set amount.
- Getting the details on service charges and deductibles.
- Knowing the response time for service requests and claim resolutions.
- Checking how the warranty company screens their contractors and the policy if you prefer your own.
- Spotting differences between basic and enhanced warranty plans.
- Scouring online reviews for real-world feedback.
Your real estate professional can always provide guidance and suggestions when it comes to selecting a home warranty.
Close
Pre-closing jitters are natural, but with your Logic agent and lender by your side, you'll be more than ready. As the buyer, you're in the driver's seat for picking the title company for both the title search and the final closing. For trustworthy title company suggestions, your agent and lender have got you covered.
As the final settlement approaches, be sure to:
- Maintain regular communication with your Logic agent, mortgage provider, and title firm.
- Ensure your credit score remains stable by avoiding new credit pursuits or any delayed payments.
- Make sure all contingencies outlined in your contract, including home inspections, appraisals, and financing, are settled.
- Finalize the details of your home insurance coverage.
- Ensure the funds for your down payment and closing costs are readily accessible.
- Thoroughly review the Closing Disclosure form, which will be given to you three days prior to the closing. If there’s anything unclear, ask questions.
- Organize a wire transfer or secure a cashier’s check for the necessary settlement amount.
- Plan a final walk-through of your new property a day before the closing to verify its state.
During the closing, expect a lot of document signing! Set aside a few hours for this process. Here’s what you should bring:
- A valid photo ID issued by the government.
- Proof of your homeowner’s insurance.
- Your copy of the purchase agreement.
- All documents related to your mortgage and the property acquisition.
- Proof of your cashier’s check payment or confirmation of wire transfer.
- A personal checkbook in case there are additional unforeseen expenses not covered in the closing estimate.
Key documents you will sign include:
- The Promissory Note, committing you to repay the mortgage.
- The Deed of Trust, which allows the lender to foreclose if the loan isn’t repaid.
- The Initial Escrow Disclosure, detailing the escrowed funds set aside for property taxes and insurance payments.
- The Right to Cancel form, granting you a three-day window to rescind the transaction.
Post-closing actions:
- Safeguard all the signed documents.
- Avoid engaging in activities that might dip your credit score, such as applying for new credit or making late payments.
- Update your mailing address.
- Secure your new home by changing the locks and updating security codes.
- Familiarize yourself with payment due dates and adjust your budget accordingly.
Congrats! With keys in hand, you’re now a proud homeowner! Remember, your Logic agent remains a valuable resource for future recommendations and assistance.