Although it bears an ominous-sounding name, the final walk-through is actually a blessing for homebuyers. It typically occurs in the days leading up to closing.

This is your final chance to inspect the home to ensure that it is in the same condition as when you agreed to purchase it, that the seller has completed all requested repairs, that all personal items included in the sale are, indeed, in place and that there is no new damage to the home.

This is not an opportunity to discover issues that you hadn’t seen during past visits.

Two tips to make sure the inspection goes off without a hitch:

• Your real estate agent should remind the buyers’ agent to ensure that all the utilities remain on. Feel free to call your agent to determine if this was done.
• Bring along a smart phone or camera to document any issues.

Check Repairs

• Have all requested repairs been made according to the purchase agreement? Tip: Bring along a professional to inspect the repairs.
• Did the seller leave all permits, warranties and receipts for you?

Check Appliances and Major Systems

• Start the dishwasher and allow it to complete the cycle while you check the rest of the home.
• Switch on the driveway heater and allow it to warm up during your inspection.
• Turn on the air conditioner and set the thermostat. Does the unit shut off when the room reaches that temperature?
• Is the air conditioning unit pumping out cool air?
• Turn on the heater and check the thermostat as you did with the air conditioning system.
• Turn on ceiling fans and test the various speeds.
• Turn on the hot water on all faucets. Does the water get hot?
• Test the doorbell.
• Test the alarm system.
• Open and close the garage door using both the remote and the button on the wall in the garage.
• Turn on all burners on the stove and check that the oven is functioning.
• Test the microwave.
• Does the gas fireplace work?
• Flick the switch on the garbage disposer to ensure that it works.
• Check all electric outlets to ensure they are getting power. Tip: Bring a small electrical appliance or desk lamp with you to test the home’s power outlets.
• In California, check to make sure the water heater is properly strapped.

Is personal property included in the sale present and functioning?

• Is the refrigerator cold? Does the freezer work?
• Start the washing machine and allow it to cycle
• Turn on the dryer and allow it to work long enough to determine that it gets warm
• Check all lighting
• Test window coverings
• Check furnishings
• Turn on the jets and the heater in the hot tub/spa.
• Ensure that the play equipment or structures were left (if agreed to in the contract) and that they are in the same condition as when you made the offer to purchase the home.
• Ensure that the seller left all the owner’s manuals for appliances and home systems (air conditioning, heating, fireplace units, alarm systems, etc.)

Windows, walls and doors

• Are any windows cracked or broken?
• Do the windows operate properly?
• Do all windows have screens?
• Are there rips, tears or other damage to the screens?
• Do the doors open and close properly?
• Are there any missing storm windows?
• Check the walls from ceiling to floor for gouges, scrapes and other defects that weren’t there when you made the offer to purchase.

Mold

• Do the windows have signs of mold?
• Are there signs of mold or water damage under the kitchen sink?
• Are there signs of mold or water damage in the bathroom?
• Are there signs of mold or water damage around appliances, such as the refrigerator, washer/dryer and water heater?
• Check the basement thoroughly for any signs of mold

Check the Home’s Exterior Features

• Visually inspect the roof, shutters and siding on the home’s exterior. Are there any changes since you agreed to purchase the home?
• Turn on the irrigation system and follow it around the yard to ensure there are no leaks.
• Do all exterior lights function?
• Did the driveway heater turn on and remain warm?
• Test the lights and electrical outlets in the garage.
• Shake the railings on decks, porches and stairs to make sure they don’t wobble.
• Is all the landscaping intact?

Miscellaneous

• Did the seller leave the remote-control devices for pool heater, ceiling fans, alarms, and garage doors?
• Is the home clean? In most regions, homes should be left in “broom swept” condition and sellers must remove all garbage and personal property.
• Before you leave the house: did you turn off the irrigation system, HVAC system and driveway, pool and spa heaters?
• Has the seller left all the keys to every lock in the house, basement, garage and shed, as well as mailbox, pool, clubhouse and other miscellaneous keys if you purchased a condo.

Happy closing!

Maybe it’s Black Friday, Small Business Saturday and Cyber Monday that leads shoppers to believe that winter, in its entirety, is bargain-shopping time.

It certainly opens the door to a season of frenzied buying and that penny-pinching spills over into the housing market as well.

The media doesn’t help, when every year we read stories of how much more money a homebuyer saves when buying in winter than any other time of the year.

The winter advantage for home sellers

If you’re like many homeowners thinking of selling in winter you’ve no doubt read the gloom and doom from the media and from real estate amateurs.

It’s true that fewer homes sell in winter than in spring. This makes sense when we consider that fewer homeowners list their homes in winter.

The brave homeowners who do decide to sell find less competition from other sellers and their home is more likely to sell than at any other time of the year.

Best of all?

Winter-sold homes sell for more money and they sell quicker

How can this be?

Homebuyers are more motivated in winter

Think about it: what would motivate someone to buy a house in the dead of winter, especially in areas with wicked weather?

Job transfers are high on the list of reasons, so if you live in an area that receives large influxes of transferees, winter is a brilliant time to sell.

Back to dealing with bargain hunters

So, how should you react when you, as a home seller, receive a ridiculously low offer on your home? First, be prepared that it probably will happen.

Your response to the offer, however, depends on several things, chief among them is the type of market we’re in at the time.

Right now, we’re still in a seller’s market. This means, regardless of the amount of snow on the ground and ice on the driveway, you’re in the driver’s seat. Here are some of your options:

• Entertain the low-ball offer by remaining firm on the price. In other words, counter the buyer’s offer stating that you want full price.
• If you really need to sell the home sooner rather than later, counter the offer by lowering your price by a small amount.
• Ignore the offer. We are in a seller’s market after all and there is still competition for homes in good shape and in desirable areas. If your home is in good condition and in an in-demand area, hang tight for a better offer.
• If the buyer is requesting concessions, grant them but demand full price.
• Accept the offer.

There are other ways to counter an offer to purchase as well, including countering the contract terms.

But, before you choose any of the responses, and depending on how long your home has been on the market, we may want to run a new check of the comparables to ensure that the market value hasn’t changed since you listed the home.

We’re happy to answer any questions you may have about selling your home in winter.

Need to get your home ready for a last-minute showing? Here are some quick and easy tips to do just that!

Nobody wants to be forever at the mercy of homebuyers that want to drop by after work, at dinner time, or on the weekends during family time.

Homeowners considering selling their homes also want and need to get the most amount of money possible.

So, what’s the trick to getting a home sold quickly and at the top of the market value range?

Actually, there are several things you as a homeowner can do to speed up the process and make your home irresistible to buyers. Here are the top three.

Price

The main reason a home sits on the market, getting little interest from buyers, is price. One of the truths in real estate is that an overpriced home take longer to sell.

Some homeowners want to “test the market,” by entering it with  a house that is priced over market value. They feel they’ll get offers and can then negotiate.

It’s a huge mistake. Buyers’ real estate agents know, at least roughly, what each home in the market is work. They can also run a comparative market analysis to ensure that their buyer isn’t paying too much.

The truth is, no buyer is going to pay more for a home than what it is worth. And, no lender will approve a mortgage for such a home unless the buyer brings in additional cash.

Sadly, homes that languish on the market become stigmatized. Potential buyers assume there is something wrong with it and real estate agents wait for the seller to accept reality. Eventually, many of these homes end up selling for less than market value.

If you want to sell your home quickly, price it right from the minute it hits the market.

Condition

Dirty houses don’t sell for top dollar. Homes with deferred maintenance don’t either and both tend to sit on the market for longer than they should.

If you don’t have the time or the inclination to clean the house yourself, it is worth the money you’ll spend to hire professionals to do it for you.

But wait – cleaning isn’t enough. Remove all the clutter from the home, store oversized furniture and consider hiring a professional stager.

Staging the home can mean the difference between getting bombarded with low offers and receiving top dollar for the home.

Marketing

Marketing is your real estate agent’s job so it’s important to look at several real estate agents’ marketing plans before hiring one of them to help you sell your home.

Find an agent whose list-price-to-sales-price ratio is close to 100 percent and one that provides you with a professional-looking listing presentation and a solid marketing plan.

Online marketing is especially important when trying to attract today’s buyers so ask the agents you interview about their online marketing techniques.

Once the home is listed, ask for a copy of the MLS listing. This is what other agents use when determining which homes to show their buying clients.

If the description of the house isn’t intriguing, if there are few photos, or if the photos are blurry or unattractive, ask your agent to redo them.

Finally, follow up on the agent’s marketing plan by checking in with him or her weekly to determine what’s being done to sell the home. Most professional agents are happy to share this information with their clients.

Homes that are priced right, clean and staged and marketed appropriately generally sell quickly and for top dollar.

Give us a call. We’d love to show you how we market homes for sale.

Despite what the media wants us to believe, the U.S. has come a long way since the days of the rampant and blatant discrimination in lending practices we witnessed in the 1930s.

Unfortunately, we still have a rather large patch of ground to cover.

According to a 2016 study published in the Journal of Urban Economics, mortgage loan discrimination often begins well before the acceptance or rejection of a loan application – often during the preliminary stages.

For example, a 2016 study, published in the Journal of Urban Economics, showed that loan officers ignored emailed questions from African Americans 1.8 percent more often than those from white applicants, which is “equivalent to the effect of having a credit score that is 71 points lower.”

The truth is, despite landmark court decisions and studies, there is still discrimination in lending against Americans of color, in some parts of the country.

What is discrimination in lending?

When lenders violate one of two federal laws, the Fair Housing Act or the Equal Credit Opportunity Act (ECOA), they are guilty of discrimination.

The Fair Housing Act lists seven methods of discrimination that are illegal:

• Familial status
• Race
• Color
• Religion
• Gender
• National origin
• Disability

Some Americans are exempt from the law. These include:

• An owner who lives in a building with four units or less.
• Any owner of three or fewer single-family homes who does not use the services of a licensed broker when a property is sold or rented.
• Any dwelling owned or operated by private clubs or organizations to which one must be a member to live there.

The ECOA, on the other hand, is specific to those who offer credit. It forbids discrimination against not only the Fair Housing Acts protected classes but also on the basis of whether an applicant receives public assistance, marital status and age.

Lenders are free to ask you for some of this information, but only under certain circumstances and never are they allowed to ask your religion.

The laws apply to any lender who loans the money to a consumer to purchase, repair, build or improve a dwelling. It also applies to selling, renting, appraising and brokering real property.

The anti-discrimination laws must be applied equally to all mortgage applicants and the lending industry, more than others, is tasked with ensuring that their policies do not exclude or burden those in protected classes, according to the Federal Fair Lending And Credit Practices Manual.

How to protect yourself against mortgage discrimination

Many Americans are confused about their rights and the laws that protect these rights. Discrimination in lending practices, although sometimes blatant, can be evidenced in more subtle ways.

In fact, according to the FDIC, U.S. courts have indicated three types of proof of mortgage discrimination:

• Overt discrimination
• Disparate treatment – Described as “when a lender treats applicants differently based on one of the prohibited factors”
• Disparate impact – “when a lender applies a practice uniformly to all applicants but the practice has a discriminatory effect on a prohibited basis and is not justified by business necessity”

The disparate treatment and disparate impact proofs are so subtle that you’ll need to know the warning signs. The Consumer Financial Protect Bureau has some tips for you:

• The lender tries to discourage you from applying for a mortgage.
• You notice different treatment in person than on the telephone or in emails.
• You are qualified yet the lender rejects your application.
• The lender doesn’t supply you with a reason for rejecting your application.
• You are treated differently in person than on the phone.
• The interest rate you are offered is higher than that for which you originally applied and you are certain you qualify for the lower rate.

Then, shop among several lenders. Not only will this help you find the best rates and terms, but any offer that is blatantly discriminatory will stand out among the others.

What to do if you think you’re a victim of mortgage discrimination

The first step to take if you feel you’ve been discriminated against is to bring it to the attention of the lender, claims Nikitra Bailey of the Center for Responsible Lending, at nerdwallet.com.

Then, start filing complaints. Your state’s attorney general should be notified and you can find out how to do that at naag.org.

Then, file complaints with the Consumer Financial Protection Bureau and with the U.S. Department of Housing and Urban Development.

Sure, it’s easy to take the best lending offer and ignore the lender who is discriminating. By filing a complaint, however, you are helping to protect others from illegal lending practices.