#realestatetips – Artisan Sotheby's International Realty

A Guide to Buying and Selling a Home at the Same Time

Buying and selling a home simultaneously can feel like a balancing act. Here’s where to begin to maximise your strategy and minimise stress.

1. Evaluate Your Financial Situation First

Before you start buying and selling, take a close look at your finances. It’s best to know what you can afford without relying on the money from your home sale. If that’s not possible, there are ways to cover the financial gap.

Get pre-approved for a mortgage and discuss options like a home equity line of credit (HELOC) or a bridge loan with your lender.

Bridge Loan: A short-term loan designed to help finance when moving from one house to another. This type of loan usually uses your current home as collateral, but some lenders might accept other assets instead. Be sure to check with your lender if this option is feasible.
HELOC: Allows you to borrow against the equity of your current home to help pay for a new one. This is especially useful if you’ve built substantial equity in your existing property.

2. Work with a Knowledgeable Real Estate Agent

Choosing an experienced real estate agent like Randy and Heidi who knows the local market can benefit you in a buy-sell scenario. Having a pro beside you will be helpful with timelines, negotiating, strategy, and understanding what it takes to close on both properties in a competitive market.

Also, consider hiring the same agent if you’re buying and selling in the same market. This can make communication easier.

3. Determine Which Comes First: Buying or Selling?

Buying First: You can avoid the stress of finding one fast. However, this means you need to afford two mortgages temporarily or be ready for a quick sale of your current home.
Selling first can free up capital, giving you a clear idea of your budget for the new home. However, you may need to arrange temporary housing if you can’t find a new property in time.

Consult your agent to understand which option fits your needs based on market conditions.

4. Consider the Contingency Option

Depending on market conditions, including a home sale contingency (where you buy a home only if your current home sells) may still be an option. Discuss with your agent whether contingencies could work in your favour, especially if the local market allows for them.

Alternative Solutions: If contingencies are a challenge, explore other options, like a rent-back agreement. In a rent-back, the buyer of your current home allows you to stay temporarily after the sale closes, giving you extra time to shop for your new home with the money from your sale.

5. Start Preparing Your Home for Sale Early

Preparing your home for sale in advance will save time and reduce stress when the time to list arrives. Start by decluttering, cleaning, and handling any necessary repairs.

Tip: List your home as “Coming Soon” with professional photos to generate early interest and boost demand for a quicker sale.

6. Stay Organized with Clear Timelines and Checklists

Managing a dual transaction requires a clear timeline and being on top of deadlines. A checklist can help you track important dates for inspections, financing, and closing.

Create a Schedule: Work with your real estate agent to coordinate showings, moving dates, and key deadlines. Use digital tools or apps to track deadlines and keep documents easily accessible.

7. Plan for Moving Day Logistics

Moving day can be hectic, especially when buying and selling a home at the same time. Consider hiring professional movers and, if possible, stagger your moving dates to allow for some flexibility. If you can’t move directly between homes, look into temporary storage options.

Tip: Pack an “essentials” box with items you’ll need immediately in the new house (e.g., toiletries, basic kitchenware, a few changes of clothes) so you aren’t searching through boxes.
Helpful links: How to Pack Like a Pro and Checklist to Prepare for Your Move.

Buying and selling a home at the same time can be easy with the right steps and professionals to help you. Get the right support to smoothly transition into your new home. Call us today!

8 Home Staging Mistakes to Avoid for a Faster Sale

Home staging can make or break a potential buyer’s first impression when selling a home. Thoughtful staging emphasises your home’s best features and will help buyers picture themselves living there. Here are the top home staging mistakes to avoid:

1. Overpersonalizing the Space

While showcasing your personality in your home is tempting, staging is about depersonalising the space. Prospective buyers need to picture themselves in the home, which is hard to do if personal items like family photos, kids’ artwork, or unique decor.

living room home stage — Featured listing: 1228 Hidden Creek Place, Santa Rosa, California

Aim for neutral tones, minimalist decor, and remove anything overly personal.

2. Cluttered Spaces

Cluttered rooms can make a home feel smaller and prevent buyers from seeing the full potential of your home.

Bedroom closet — Featured listing: 126 Spikerush Circle, American Canyon, California

Clear spaces of unnecessary items. Keep storage areas tidy, as buyers are likely to peek inside. Less is more when it comes to staging—highlight the space, not the stuff.

3. Neglecting Curb Appeal

First impressions matter, and the exterior of your home is the first thing buyers see. Neglecting your lawn, garden, or entrance can make buyers lose interest before they even step inside.

Spruce up the exterior by mowing the lawn, trimming hedges, and planting fresh flowers. Power wash the driveway and exterior walls, and consider adding a fresh coat of paint to the front door.

4. Not Enough Light

Dark, dimly lit can leave buyers with a negative impression of the home. A home overflowing with natural light creates a welcoming atmosphere.

Open blinds and curtains to let in as much natural light as possible. Replace dim or outdated light fixtures with brighter, more modern options. Adding mirrors is another great trick to reflect light and make rooms feel larger and more open. These 5 light-boosting hacks will bring more natural light into your home.

5. Ignoring Minor Repairs

Small issues like scuffs, chipped paint, or leaky faucets may seem insignificant, but this can make buyers question how well the home has been maintained.

Fix small issues before staging. Touch up paint, patch holes, replace broken fixtures, and ensure everything is in good working order.

6. Overwhelming Scents

While a fresh-smelling home is important, overpowering scents from air fresheners or candles can be off-putting to buyers. Strong odours, even pleasant ones, may make people wonder if you’re trying to mask an unpleasant smell.

Stick to subtle, natural scents. Open windows to air out the home and consider using fresh flowers or mild air purifiers.

7. Poorly Arranged Furniture

Pushing all the furniture against the walls or overcrowding a room with too much furniture are common staging blunders that can disrupt the flow of the space.

Living room home staging — Sold listing: Hoen Ave., Santa Rosa, California

Arrange furniture to create an inviting layout with clear pathways. Focus on making the space feel open and balanced. Remove unnecessary or oversized pieces to allow the room to breathe.

8. Neglecting Key Rooms

It’s easy to focus on staging the living room or kitchen and overlook areas like bathrooms or bedrooms. Remember that buyers will evaluate the entire home and every room matters.

Bedroom home staging — Featured listing: 1228 Hidden Creek Place, Santa Rosa, California

Stage the bedrooms and bathrooms with fresh linens, neutral decor, and minimal clutter. Ensure every area of the home feels inviting and cared for.

Home staging is a powerful tool when selling your property, but the right approach is key to success. By avoiding these common mistakes, you can help your home stand out in the market and attract serious buyers.

10 Fall Home Maintenance Tips

As the leaves change colors and the air becomes crisp, clear signs that fall is here. Ensure your property is in top shape and prevent costly repairs in the future with these fall home maintenance tips.

1. Inspect and Clean Gutters and Downspouts

Leaves and debris can quickly clog your gutters and downspouts. Regularly clean them to prevent water overflow from drain blockage, which can damage your roof, siding, and foundation.

2. Check and Seal Windows and Doors

Inspect the seals around your windows and doors for cracks or gaps. Seal them to prevent pests from entering, for proper insulation to improve energy efficiency, and to ensure the temperature in your home is where you want it to be.

3. Emergency Kit

Assemble or update an emergency kit with essentials like a flashlight, batteries, non-perishable food, and first aid supplies.

4. HVAC Maintenance

Before the cold weather arrives, schedule a professional HVAC system inspection. Change air filters and clean vents. Regular HVAC maintenance is essential to keep your heating and cooling system running efficiently.

5. Seal The Cracks

Cracks in driveways, walkways, and foundation walls can act as pathways for water to seep in. Repair the cracks to prevent water from seeping in and causing further damage.

How to seal the cracks in your driveway:

Prepare: Clean the driveway thoroughly.
Choose Materials: Get the appropriate filler and sealant for your driveway.
Fill Cracks: Fill deep cracks with filler, level it, and let it dry.
Apply Sealant: Use an applicator to spread the sealant over cracks, overlapping the edges.
Smooth Sealant: Feather the sealant to blend with the driveway surface.
Allow to Dry: Follow the drying time instructions of the product.
Clean Tools: Clean tools immediately after use.

6. Prepare Your Lawn and Garden

As the growing season winds down, give your lawn one last mow, trim bushes and trees, and store outdoor furniture and garden tools in a safe, dry place.

How to store outdoor furniture:

Clean the furniture: Remove dirt, dust, and any stains. Use appropriate cleaning solutions and tools for the specific material (wood, metal, plastic, etc.) to avoid damage.
Dry completely: Avoid moisture in your furniture, which can lead to mold, mildew, and rust, which can damage it.
Disassemble if possible: To save space and for easy storage, disassemble your outdoor furniture.
Use furniture covers: Invest in high-quality furniture covers. Protect your furniture from dust, rain, and UV rays.
Elevate off the ground: Store your furniture off the ground to prevent moisture damage. You can use furniture blocks or store them on a raised platform like a wooden pallet.

7. Appliance Maintenance

Service and clean your major appliances, such as the refrigerator and oven, to ensure they run efficiently before the holiday season.

8. Test The Detectors

Replace the batteries on your smoke and carbon monoxide detectors; you should test them to know if they’re working accurately.

9. Clean the Dryer Vent

Lint buildup in dryer vents is a fire hazard. Remove and clean the lint trap and the vent duct regularly to reduce the risk of a dryer fire.

Moreover, you can find safety reminders from the National Fire Protection Association here.

10. Finish Exterior Painting Projects

The fall season typically offers a comfortable temperature outside, making it an ideal time for painting. This weather allows the paint to adhere better and dry properly, resulting in a more durable and weather-resistant finish.

Follow these fall home maintenance tips for a safe and comfortable environment throughout the colder months. Learn more about home hazards.

Finally, remember that preventive maintenance is a wise investment, as it can save you money and the hassle of emergency repairs. We hope you have a well-prepared home this fall season for whatever the colder seasons bring. Happy fall!

Navigating the Closing Process: A Guide for Homebuyers

The closing process is the final step in a real estate transaction. Although this process seems overwhelming, it can be a smooth experience with proper planning.

If you plan to purchase a property, we are here to provide insights about this process.

Closing Process Timeline

You may expect to close 30 to 45 days after the contract is signed. However, this timeframe can vary depending on different circumstances, such as mortgage approval and the complexity of the transaction.

The Escrow Process

You are officially in escrow once both parties have signed the purchase agreement. Escrow refers to a financial arrangement in which a third party, the escrow agent, holds the deposited earnest money.

The escrow process typically involves the following:

Opening the escrow account
Completing the inspection and repair requests
Mortgage application and underwriting
Appraisal
Acquiring homeowners insurance and title insurance
Loan approval
Final walk-through
Closing appointment

Is Earnest Money Refundable?

NAR, Earnest Money & Escrow Real Estate: There are several scenarios when a buyer could face forfeiting their earnest money. If a buyer waives contingencies, ignores timelines, or gets cold feet, it could mean losing the earnest money deposit.

When it comes to real estate, a case of buyer’s remorse could be even more painful than a lost deposit. To avoid both, ensure the home you’re bidding on is “the one.”

How Much Are Closing Costs?

Zillow: Buyer closing costs are usually between 2% to 5% of the home’s purchase price. For example, if the home costs $300,000, you might pay between $6,000 and $15,000 in closing costs.

A lot of factors impact how much you’ll pay in closing costs. For buyers, it depends on your loan program, the size of the loan, and individual lender practices. For sellers, it comes down to what you’ve negotiated in terms of concessions and agent commission.

Track Your Closing Costs

Be prepared and know who’s responsible for the fees and expenses at the closing table. We have prepared a worksheet to help you track your closing costs.

Homeowners Insurance

A homeowners insurance policy will protect you against certain losses and damage to your new home and is generally required by lenders before closing.

Moreover, some lenders will collect the money you owe for homeowners insurance as part of your monthly mortgage payment and place it in an escrow account, paying the insurer on your behalf when the bill is due.

Title Insurance

Title insurance protects your ownership right to your home; from fraudulent claims against your ownership and mistakes made in earlier sales.

Additionally, in some states, it is customary for the seller to purchase the policy on your behalf.

Final Walk-Through

Conduct a final walk-through of the property before closing. To guarantee that the house is in the same or better condition if you negotiated repairs after the home inspection.

Here’s a detailed list of what to check on your final walk-through.

Transfer of Ownership

Once all the documents are signed, funds are transferred, and the closing is complete, property ownership officially transfers to you.

Congratulations! At this point, you will receive the keys to your new home.

In Conclusion,

Preparation is vital; from gathering all necessary documentation to conducting a thorough home inspection.

Also, staying in close communication with your real estate agent and other parties involved will keep you updated on the progress.

Furthermore, we understand that the closing process can be daunting, and we are here to help you fill the gaps in your home-buying knowledge. Call us, and we will establish a plan to achieve your personal real estate goals.

Finally, best of luck on your journey, and may your new home bring you years of happiness and fulfillment!