Jeremy, Author at ATG Title

Your Guide to Real Estate Home Inspections | Checklist

August 3, 2021 By Jeremy

A home inspection can be a pivotal part of your home buying or selling experience. It’s this very moment when the home’s health is confirmed, issues are revealed, and when renegotiations are common. No matter what side of the closing table you’re sitting on, it can be both an exciting and nerve-wracking part of the process.

It’s essential to familiarize yourself with the process in any case. That way, you know what a home inspector is looking at, what issues they may find, and what steps they determine must be taken. That’s what this guide is for. We’re going to take a look at home inspections so that you know exactly what to expect and can be ready for a quick and hassle-free closing.

What should a home inspection cost?

The average price of a home inspection is around $400. However, that number is based on homes that are 1,500 square feet or less.

Inspectors will generally start there and increase the price along with the size of the home. That might be $50 for every additional 500 square feet above 1,500, but it ultimately comes down to the inspector you hire.

Keep in mind that pricing is typically a lot more complicated. Features of the home, its age, and so on can all factor into what an inspector charges. [Read more…]

How You Know It’s The Right Time To Buy A House

July 27, 2021 By Jeremy

The home buying process can be as frustrating as it is exciting. Having to pass up on two or even three dream houses because the time just isn’t right can be highly discouraging. After all, you and your partner have been putting in the hours and making cuts—all to ensure that your savings account is nice and healthy for that moment.

You can’t help but ask, when is the right time to buy a home? Will it ever come? Or will you have to settle for rent year after year until retirement, when you can live the snowbird lifestyle?

The answer is that it will come. You just need to be patient and know what to look for. But what are the signs the time is right? Below you’ll find what we consider to be the top 7 signs it is the right time to buy a house.

When is the right time to buy a house?

The best time to buy a house is when the market has more homes for sale, the same houses are sitting on the market longer, and the asking prices begin dropping. This means there is more inventory, and the market you live in is shifting from a seller’s market to a buyer’s market.

That doesn’t mean we’ll leave you to figure things out from there. The trick is to develop a sound understanding of the home-selling market in your area. That does sound intimidating but easing into it helps you to understand the more complex elements.

And while it certainly helps to work with a trained agent, you can give yourself a good head start by looking for a few key details that tell you when it’s an excellent time to hire an agent in the first place.

7 Signs That It’s Time to Buy a House

So, what should you be looking for? Below you will find seven signs that tell you it’s the right time to buy a home. Keep in mind that each market is different and can work in various stages.

In other words, just because things are perfect for a buyer in one neighborhood doesn’t mean it’s true in the other. To ensure you land the home you want for a fair price, you need to be patient and wait till the time is just right for the home you want. [Read more…]

9 Signs It’s Time to Sell Your House

July 20, 2021 By Jeremy

If you’re on the fence about selling your home but aren’t sure if it is the right time, this post is for you. Below you’ll find questions to ask yourself with the answers to help you determine if the market is in demand for properties like yours, or if it is for other styles and you should wait to sell.

To start, you must stratify your property. Doing so is easy. All you need to do is look at local listings and break the properties into groups based on their size and features. Consider the room count, garage, square footage, age, amenities, and condition. When you do this, you’ll find that different properties list in specific price ranges and see what the original prices were, asking prices are and how long each has been on the market. By doing this you’ll be able to see if similar houses to yours are in fact in a sellers market or not.

What is a seller’s market?

A seller’s market is when there are more buyers than sellers. Demand exceeding supply gives sellers the advantage as buyers will compete with one another to secure their desired property.

Bidding wars are much more common in a seller’s market, and the result is often homes selling for more than the asking price within exceedingly short periods—many home sales can occur in 45 days or less when they would normally have taken 90 days. [Read more…]

What a Seller’s Disclosure Form Is & What to Know About Them

July 15, 2021 By Jeremy

Whether you’re buying a house or selling, you’ll need to be aware of any potential issues with the property. Familiarizing yourself with the seller’s disclosure form will benefit all parties—buyer and seller alike.

What is a Seller’s Disclosure Form?

A seller’s disclosure form, also known as a property disclosure statement, is a document provided by the seller about their knowledge of the property—any historical and potential issues. The seller’s disclosure statement is essential to both the buyer and the seller.

As a buyer, you’ll want to be aware of anything that could potentially go wrong with the property. As a seller, you’ll want to be completely honest with your buyer, not only for the sake of honesty but also to cover yourself if an issue arises. Legal action can be taken if you lie on a seller’s disclosure (more on this later).

What Should a Seller’s Disclosure Include?

A seller’s property disclosure should include a full list of issues. The exact issues that need to be listed vary from state to state, so make sure to find out your state’s requirements. Some general problems with seller’s disclosures issues across the country include:

HVAC
Mold
Pest infestations
Water damage
Leaks
Foundational integrity issues
Lead paint
Asbestos
Additions and improvement projects (without a permit)
Any major repairs made by the seller or previous owners
Insurance claims made

If there’s been a notable issue, it should be noted.

In the past, there have been underhanded attempts to pass off homes with issues to uninformed buyers. So be wary of shady sellers.

What if the Seller Lies?

[Read more…]

Can You Find Property Lines on Google Maps & Why?

June 29, 2021 By Jeremy

Regardless if you’re a buyer, seller, or agent, you need to know the exact details about any property you’re interested in dealing with. There’s no faster way to get in trouble with your neighbors than by selling or modifying what isn’t yours.

Of course, the best way to prevent these issues is to find exactly where your property lines are, and one of the most tempting sources is Google Maps. But is something so convenient also reliable?

Are property lines on Google Maps accurate?

No. Google Maps are not that accurate, and you shouldn’t rely on them as a source for factual information regarding property lines.

Much like a plat map, they only provide a general idea of where property lines exist. As with plat maps, there are discrepancies in terms of accuracy. Property lines shown on these platforms are known to be more than several feet off their actual location.

Not only that, but Google Maps does not show any easements that might exist on a property. If you’re not familiar, an easement grants another individual or entity access to a portion of your property. If you ignore this and build on top of an easement, you might wind up having to relocate or tear down the structure that exists there. [Read more…]

What is Bird Dog Real Estate?

June 22, 2021 By Jeremy

As you journey into the world of real estate, you’re likely to come across bird dogs. Of course, there’s a wide variety of different practices attached to some creative names to describe them, but bird dog may be the most peculiar of them all.

What might come as a surprise is the fact that it’s one of the most hands-off practices in the real estate industry. In other words, being a bird dog in real estate is one of the simplest ways for real estate investors to make money by doing very little work.

What is bird dog real estate?

A bird dog in real estate terms is someone that identifies distressed properties, recommends them to other real estate investors, and collects a finder’s fee when that investor closes the deal. That’s all there is to it.

The process of finding distressed properties can vary. It can be as simple as stumbling across a home that is ready for a new owner, or it can take research via networking and so forth. Either way, the bird dog doesn’t get involved with the procurement and sale of the home. They simply recommend it to another agent who will handle that end of things. [Read more…]

What Does Under Contract Mean in Real Estate?

June 15, 2021 By Jeremy

When a house is under contract, it simply means that the seller has accepted the buyer’s offer, and both parties are holding up their responsibilities before closing. While it does mean everyone is contractually obligated to hold up their end of the deal, being under contract does not mean the sale is final.

An offer on a home is more than a dollar amount. First, the buyer and seller negotiate a contract in which they work out what they’re willing to cover, what contingencies they want in place, and what they expect of one another before closing. If both agree to the terms and a selling price, they sign their names, and the property is then under contract.

During this period, the buyer will need to produce the earnest money deposit along with a preapproval letter for their loan or mortgage. After this, they enter what is known as the due-diligence period.

This period includes an inspection of the property, an appraisal, and a title search. These stages are in place to ensure that all potential issues have been worked through before reaching the closing table.

How being under contract protects realtors.

Naturally, you’ll ask why a contract is necessary if the sale isn’t final. The reason this contract is in place is to protect the parties involved in the transaction from others wrongfully backing out of the deal.

Say a seller gets a better offer on the home. If it’s under contract, they cannot back out of the current deal. Alternatively, a buyer can’t rightfully back out if they find another home they deem more desirable. The only way anyone can back out is if a contingency allows for it.

You need to remember that the buyer and seller aren’t the only individuals involved, though. In other words, they aren’t the only people protected by the contract. So, if anyone were to wrongfully back out of the contract, it can directly impact the real estate agents, title companies, etc. [Read more…]

How to Market a Pocket Listing

June 1, 2021 By Jeremy

You’ve scored your first pocket listing, congratulations! These are highly profitable and can help you stake your claim in your market. The only problem is that most of your go-to real estate marketing strategies aren’t going to help you here. For one, you have to protect your client’s privacy and keep the general public out. Two, the home is probably out of the price range of the average buyer.

Those two factors mean that you need to get creative with your marketing of the home, and we’re ready to help. Below you’ll find seven ways to market a pocket listing so that you can bring in qualified buyers and help to keep your client’s identity and home as private as possible.

Network with Financial Advisors

Gaining the respect and trust of financial advisors can take some time. That, combined with the idea that you are likely reading into marketing pocket listings before you obtain your first, is why we’re starting our list here.

Meeting financial advisors can happen in any number of ways, and you may want to wait for the relationship to start organically rather than approaching them on the spot about a business opportunity. Over time, you can gain their trust by offering your services when they mention clients that need to downsize their assets or have the opportunity to move into a bigger home.

After their trust is gained and a healthy relationship is established, you can approach them about a pocket listing to see if they know of anyone who may be interested. They may even provide you with a list of people who have the kind of income that would justify you approaching them with the opportunity.
Exclusive Advertising

With a pocket listing, advertising to the general public is off the table. Even exclusive advertisements in pristine publications might be an issue if the client doesn’t want to make the information to select groups, which is why you should always consult with your client about the idea first. [Read more…]

What is Part-Time Real Estate Agent (Pros and Cons)

May 25, 2021 By Jeremy

Are you thinking about becoming a part-time real estate agent? Then you’re likely thinking “Maybe I can give this a try?” and possibly thinking if it will remain a side hustle or a full time job. Becoming a part time real estate agent is a great way to get your feet wet, but it comes with plenty of obstacles a full time agent does not have to face.

By talking to long time agents, brokerages and by using our experience, we’ve created a guide to the pros and cons of being a part-time real estate agent to help you determine if this is the right more for you and your goals. At the very bottom you’ll find 5 tips to help you succeed if you do decide this is the right path for your career.

Is it legal to be a part time real estate agent?

Yes it is legal to be a part-time real estate agent, and yes you absolutely can work as a part-time real estate agent. An essential factor to remember is that all real estate agents have control over the amount of work they take on. It might not be as easy to find a brokerage to join, and you do need to work during your downtime, but this industry is flexible enough for people to get their start by working part-time. Many very successful agents get their start by working as an agent part-time until they have enough of a workflow to justify leaving their day jobs.

Do you need certifications to be a part time real estate agent?

The exact certification requirements are dependent on your local board. Being a part-time real estate agent is still a professional endeavor, so it requires some certifications. You’ll need to complete schooling and obtain the appropriate certificates to act as a real estate agent. That said, you can expect to complete schooling, find a brokerage to join, and take an exam at the very least.

How much can I expect to make as a part time agent?

[Read more…]

What is a Pocket Listing in Real Estate?

May 18, 2021 By Jeremy

A pocket listing, also known as an off-market listing, is any listing that is retained by a listing agent and not listed on the Multiple Listing Service (MLS). Instead, the agent tries to market and sell the home within a private or select network. In other words, it’s a real estate listing that isn’t made available to the general public.

Is a Pocket Listing the Right Move?

Listing in the MLS has its advantages, but it’s not always the best choice for sellers.

The number one reason to consider using pocket listings is to maintain your anonymity. Say you’re a local politician, judge, or celebrity. Chances are you don’t want to make your personal information public information. Disgruntled individuals or obsessive fans can use the opportunity to visit the home sheerly for kicks or to learn more about you.

Keeping the property out of the public listing is also an excellent idea for someone with a particularly interesting property. Multi-million dollar homes and unique properties are sure to draw in people who are just trying to take a look with no intention of making an offer.

Or say you’re just the average person who already knows of people who may be interested in buying your home. It can be a relative looking to get their start or someone close to you that’s been waiting for you to sell.

Why would you want to publicly list the home to draw the attention of buyers before they have an opportunity to make an offer? Instead of potentially wasting other buyers’ time, you hire an agent to facilitate your end of the transaction in a straightforward manner, however there is potentially dual-agency—which can also double as a con if the agent isn’t ethically driven.

Another benefit to using pocket listings is that they serve as a way for agents to market the home before it’s ready for sale. Say you’re performing some extensive repairs, the agent can use pocket listings to get buyers interested and warmed up to your asking price long before you officially list it. This “premarket” strategy is advantageous because you’re less likely to spend a long time with the house listed publicly while you wait for someone to make the offer you’re looking for.

Why You Might Consider Another Route

While the pros are short for pocket listings, that doesn’t mean they aren’t the perfect option for some sellers. If you’re still on the fence, you might want to consider the reasons that make the MLS listings a desirable route to take when marketing your home.

The most obvious thing to consider is market exposure. Remember that the property isn’t being marketed to the general public. Instead, you and your agent are responsible for marketing the home privately. That means no open houses, non-conventional advertising, and no listings on sites like Realtor or Zillow. [Read more…]