The Mortgage Corner

3 Tips To Consider When Trying To Sell Your Business

Posted by on 6:56 am in Uncategorized | Comments Off on 3 Tips To Consider When Trying To Sell Your Business

Are you ready to move on from your small business? Whether you are looking for help selling a chiropractic practice, restaurant, or small goods shop, there are a number of things you are going to want to take into consideration before you move forward. Here are three of the first things you should do upon deciding to sell your small business. Be Honest With Yourself About How Attractive the Business Is to a Buyer First things first, why are you selling the business? If you are selling it because it hasn’t been that profitable for you or it requires very long hours every week, stop and consider whether or not that’s going to be attractive at all to a potential buyer. When a buyer goes looking to purchase an existing business, they are going to want to see things like increasing profits and consistent paychecks month after month. If you can’t offer that yet, then going through the trouble of putting your business up for sale probably isn’t worth it just yet. Get a Business Valuation If you know your business is profitable and you have the income statements to prove it, the next step is to decide just how much you want for your business. But remember that how much you want and what your business is actually worth might be two different figures. One way to come to terms with this dilemma would be to hire an official business appraiser who can take a look at your company and your industry at large and give you a rough figure of how much you are worth. Hire a Professional Broker Finding the right buyer for your business may take some time, especially if you want to make sure the business will be handed off to someone who shares your values or someone who will continue your success. Every day that you spend time looking for a buyer or negotiating with someone is potentially time that you are taking away from continuing to run the business. If this goes on for a while, the distraction might actually cause your business to start losing value because the owner hasn’t been around. But today, you can hire a professional business broker for help selling a chiropractic practice, restaurant, or any other kind of business. This person will seek out buyers for you and only come to you when a good offer is on the table. if you are looking to sell your business, first get your financials in order and make sure the business is attractive to others. Then, get an official appraisal of what you are worth and consider bringing on a professional business broker to handle the sale for you. In the meantime, don’t neglect your business if you want to get the maximum offer...

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4 Reasons Bathroom Caulking Is An Essential Improvement When Selling Your Home

Posted by on 10:20 am in Uncategorized | Comments Off on 4 Reasons Bathroom Caulking Is An Essential Improvement When Selling Your Home

When most people consider home improvements that need to be made before putting their home for sale, few think about the bathroom, but the simple task of putting in new bathroom caulking can completely change the look and feel of your bathroom. In fact, it can transform how potential home buyers respond to your bathroom. Simply put, bathroom caulking can be the cheapest mandatory home improvement you make prior to putting your home up for sale. Consider these four reasons why bathroom caulking is an essential home improvement when you’re selling your home. Reason #1: It Has Minimal Costs for Big Potential Rewards Most home sellers wouldn’t imagine that some home improvement projects can be completely for under $20. However, bathroom caulking can be completed for as little as ten bucks, and it can go a long way towards making your home look its best. When people are looking for a home, many home buyers spend time in the bathroom, and they will notice aging caulking and not be happy about it. Reason #2: You Can Do It All Yourself Without Stress Although you would need to hire a professional contractor for many types of home improvement projects, anyone can put new caulking in their bathroom with minimal tools and just a shot amount of time. It likely won’t be a stressful project, either, since it is straightforward and simple. Doing it yourself will save money on an already low-cost project. Reason #3: It Can Alter How Well Your Bathroom Is Perceived Consider how you would feel if you walked into a house you were considering, yet you saw that the caulking in the bathroom was turning brown. It can make the entire bathroom look like it has mildew and mold, and that can make potential home buyers feel like you don’t take care of your home. They won’t want to imagine themselves living in a home that feels neglected. Reason #4: It Can Have an Impact on Your Bottom Line Although it may not seem like an instantly logical conclusion to make, replacing unsightly, aging caulking can ultimately have a big impact on the final price you get for your home. By inspiring home buyers to imagine themselves enjoying the lifestyle that a beautiful home with a well-maintained bathroom can provide them, it can ultimately impact how much they are willing to offer on your home. Small things can have a big impact on the psychology of home buying and how much profit you ultimately get. Finally, keep in mind that you should be sure that the caulking looks new and fresh in every area of your bathroom. That includes the wall by and above the bathtub, the bathroom sink, and the shower stall itself. You will find that applying the caulk is inexpensive and easy compared to other kind of home improvement projects, and it can offer you big benefits when you are selling your...

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Three Updates To Request Of The Management Company Who Runs Your Condo

Posted by on 10:25 am in Uncategorized | Comments Off on Three Updates To Request Of The Management Company Who Runs Your Condo

Hiring a management company to run your condominium can save you a lot of time and running around. Being a landlord is a lot more involved than a lot of property owners are aware of. A condo property management company can take care of the maintenance, tenant needs, and money collection. If you own a condo or several condo units and the management company is taking care of your tenants, it is important that you still stay abreast of certain things. Here are three updates that you should request that your condo property management company provide you with on a regular basis.  Any type of maintenance or property damage The good thing about hiring a property management company is that they can dispatch a professional to take care of any requested maintenance at your condo. Although you may not want to be in charge of getting the maintenance done, you should request to be updated any time that maintenance is requested. You need this information in case you see a pattern of a specific appliance breaking down or issue with the pipes in one of the rooms. This will let you know if your condo is in need of a deeper inspection or needs brand new appliances, instead of constant repairs.  If there are changes to the individuals living in the unit It is important that you know exactly who is residing inside of your unit. Most condos will require that you only allow a certain amount of people to stay in a condo that is of a certain size. If the tenants who are residing inside of your unit are expanding their family or seem to have someone else living with them, this is information that you should request from your management company. Knowing who is inside of the unit and how many people live in the unit can also help to estimate any extra utility costs that may come along with an increase in tenants.  Changes in interest in your condo or properties If you have an open unit or several units, you need to know how much or how little interest you are getting in the unit. If the unit is empty or will be soon, a listing should go up to look for tenants. If you are getting more interest or less interest than in the past, you may need to recheck how much you are charging or any perks that you should be offering with your rentals. Knowing about any changes in the interest that you have garnered will help you keep up with the current real estate...

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3 Tips For Dealing With Rats And Mice In Winter

Posted by on 9:02 am in Uncategorized | Comments Off on 3 Tips For Dealing With Rats And Mice In Winter

One of the best strategies against home invasions by rats and mice is to keep them from seeking shelter in your home in the first place. For instance, rodents are perfectly happy to remain outdoors during the warm summer months, but when nighttime temperatures begin to dip in autumn, they start looking for cozy places to spend the winter — and that’s when homeowners get busy sealing up any and all possible access points. However, many people find themselves dealing with invasions of rodents during the winter months either because they missed an access point or simply didn’t realize that things needed to be sealed up. Following are three tips for dealing with rats and mice in the home during winter.  Don’t Seal Access Points  Although it may be tempting to get out there and identify and seal up access points, doing so during winter will only serve to trap rodents inside your home. Cracks, crevices, holes, and other ways that rodents could possibly access your home interior should be sealed only after you are 100-percent positive that no rodents remain indoors. Seeking the assistance of rodent control services is recommended in instances where indoor rodent populations are high.  Don’t Feed the Rodents  All trash should be placed in a sealed receptacle and removed from the home on a regular basis. Because rodents are nocturnal, taking the trash out at night is the best way to ensure that they don’t enjoy midnight feasts from your garbage pail. Also, keep your kitchen and living areas free of leftover food and crumbs. One of the biggest mistakes, however, that otherwise vigilant homeowners make, is leaving pet food out at night. Rodents love pet food and could live off it indefinitely. If Fido or Fluffy doesn’t eat all of his or her dinner, seal it up in a thick plastic bag before turning in for the night. Establish regular pet feeding times and optimal amounts so that leftover food isn’t constantly in the bowl. Although some people like to leave food in their pets’ dishes at all times, this strategy could easily lead to infestations of rodents.  Keep it Clutter Free Keeping home interiors clutter free is also important when you’re trying to discourage rodents from setting up shop in your house. Clutter of all types provides places for rodents to hide and make nests.  Contact a local pest control service if rodent infestations have become a problem in your home this winter....

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3 Tips For Purchasing A Home In A Seller’s Market

Posted by on 6:44 am in Uncategorized | Comments Off on 3 Tips For Purchasing A Home In A Seller’s Market

When it comes to buying a house, one of the first things that you need to find out from a realtor is what type of market you are buying in. Is it a buyer’s market or a seller’s market? Obviously, you want it to be a buyer’s market because it will be more favorable for you. However, if it is a seller’s market, it doesn’t mean that a purchase is impossible, but it can make things a bit more difficult. After all, in a seller’s market, there is a lot more competition and fewer homes on the market. Here are a few tips to help you navigate a seller’s market and hopefully come out on top: 1. Be Willing To Put Up A Larger Deposit (Earnest Money). When a seller is receiving multiple offers, it is going to look great when you can put up earnest money. However, what is going to look even better is if you can double or possibly even triple the standard earnest money deposit amount. Think about it this way: this is money that you are going to be paying when you close on the house anyway, so why not go ahead and pay it now to show the seller that you are serious about the house. It shows the seller that you aren’t going to be a buyer that backs out at the last minute and that you are committed to the offer that you have placed on the house. 2. Submit a Pre-approval Letter for a Loan. More often than not when you submit an offer on a home, you should include a pre-approval letter from a lender or some form of documentation that shows you can get financing to purchase the home. In doing so, you are showing the seller that you are a solid buyer and that you have already sought out financing and have been approved. Keep in mind that it is ideal that this letter has the same date as your official offer for the home. 3. Allow the Sellers Plenty of Time to Move Out. There is a good chance that the sellers are looking for another place to purchase, since they are selling the home that they currently live in. Many are unable to make a purchase until they actual receive the cash for the home that they are selling. This makes things very difficult and time sensitive. So, rather than expecting them to be out the day after closing, give them a few extra days to get all of their personal belongings out of the house, and make sure that they know that you will do this for them. In fact, you can even put it in writing, if you’d like. This consideration can speak volumes in your favor. For more advice on buying in a seller’s market, work with an experienced real estate agent at an agency like Chris Calhoon Real Estate who is familiar with the area where you would like to purchase a...

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When You Want To Buy A Home: Why Working With A Realtor Will Get You The House Of Your Dreams

Posted by on 11:23 am in Uncategorized | Comments Off on When You Want To Buy A Home: Why Working With A Realtor Will Get You The House Of Your Dreams

While potential home buyers have access to public search databases, this doesn’t mean it’s easy to purchase a new home without a Realtor. Yes, you might find a home you love through a simple internet search. Problems begin to develop when you want a tour of the property, when you begin to negotiate the sale price, and when it comes time to handle the closing. A Realtor does way more than find you a property. A Realtor guides you along the home buying process, making it as painless as possible to look for houses for sale. Together you can go over your budget, discuss what your priorities are in a new home, and talk about different neighborhoods in the area if you are not familiar. A Local Realtor Knows the Properties Out There A local Realtor is going to know what is on the market and may have visited the home you are interested before. Realtors that work in one area during their career are often involved in the purchase or sale of a wide number of properties. Their expertise can make a big difference in the property that you choose. When you start describing what you are looking for in a home, your Realtor is likely to start thinking of the properties currently listed that they know are a decent match for you. Experience and familiarity with the area makes a difference in real estate. Let Your Realtor Negotiate While you will have the final say in what you offer a home seller, your Realtor will be able to negotiate the price for you. When you love a property, you may be tempted to make any offer necessary to get the house. Your Realtor is there as a reality check, to make sure that you don’t get in to a bidding war that you shouldn’t bother trying to win. They will know how tight the market is, and be able to guide you as to whether you should simply wait for a comparable property to come along. Your Realtor Deals with Closing Details Getting ready to close on a house can be very stressful. While you are gathering together all of your necessary paperwork, your Realtor is doing plenty of work in the background trying to make sure you closing goes through as planned. If you don’t hire a Realtor, this work will be left up to you. When you want to make sure that your house purchase deal goes through, hire a Realtor in your area to work...

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Hiding These Two Things From Your Landlord Could Hurt You

Posted by on 4:31 am in Uncategorized | Comments Off on Hiding These Two Things From Your Landlord Could Hurt You

When you rent a home, you expect a certain amount of privacy, and most landlords don’t have a problem respecting that. However, there are certain things the landlord has a right to know or that failure to tell the person about could negatively impact your tenant rights. To avoid potential legal problems, here are two things you should absolutely tell your landlord. Roommates and Subletters People generally don’t expect to encounter financial problems or emergency issues requiring them to find roommates or break their leases when they sign their leases, but sometimes these things happen. If you rent a home by yourself but get a roommate or sublease the place to someone else later on, you must tell your landlord as soon as possible. There are a couple of reasons for this. First, it’s a safety issue. Landlords are responsible for ensuring they’re not renting their units to dangerous individuals. Therefore, they’ll typically do background checks on everyone who will be living in the home. Second, if you sublease to someone and that person stops paying the rent or breaks something in the home, you will be held liable for those damages. It may seem like a lot of trouble, but it’s best to tell the landlord when other people will be living in the home, even if it’s a family member. This will help you avoid running afoul of your lease or local occupancy laws and suffering the consequences—which may involve eviction—as a result. Mystery Water and Other Symptoms Starts Appearing You and your landlord share responsibility for making sure the home remains clean and in good condition. However, the landlord is generally responsible for fixing major issues, such as roofing or plumbing leaks. The problem is if you don’t notify your landlord about these issues in time, you could be on the hook for paying some or the entire repair. Additionally, you may hurt your chances of recovering money for damages and losses if you’re injured because of an issue in the home. For example, you notice wet spots in the ceiling, which typically indicate there is a leak in the roof. If you fail to notify the landlord and the roof suddenly caves in and injures you, you may have a hard time collecting compensation for damages because you didn’t tell the landlord there was a problem and provide him or her enough time to fix it. Doing regular inspections of major areas of the home (e.g. roof, pipes) is a good habit that can help you spot problems early. You should also immediately notify the landlord whenever symptoms of a larger issue suddenly appear. Even if it turns out to be nothing, it’s better to be safe than sorry. For more information about this issue or to find a house for rent in your area, contact a...

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Reasons To Avoid Selling Your Home “As Is”

Posted by on 11:47 am in Uncategorized | Comments Off on Reasons To Avoid Selling Your Home “As Is”

When you’re looking to sell your car, you have the option of fixing it up a bit or selling it “as is.” The same premise holds true when you wish to sell your home. When you’re thinking about putting it on the market, a variety of factors can steer you toward making some investments into the house or simply attempting to sell it as-is. In the right scenario, the latter option can work to your advantage. However, it’s generally a good idea to avoid selling your home in this manner. Here are some reasons to avoid selling your home as-is. You’ll Probably Get Less Money For It When you sell your home as-is, prospective buyers who visit during the open house or scheduled viewing will likely walk through the home and note the work that will need to be done. For example, they might note that the windows will need to be replaced and that the master bathroom will need new fixtures, among other things. People will then estimate the cost of these tasks and factor this amount into the price negotiation. This means that if you’re hoping to get $215,000 for the home and an interested buyer has estimated that the house will need $20,000 in work, his or her initial offer will likely be around the $195,000 mark. The House May Not Pass Inspection One of the advantages to fixing up your home before it hits the market is that your contractors will be able to identify potential issues that could come up during the home inspection. These things can then be addressed. If you sell your home as-is, you really have little idea of any potential issues. This means that an interested buyer’s home inspector could notice issues such as a leaky roof, mold in the basement, or a cracked foundation. These items can cause the home to fail its inspection, thus scaring off the interested buyer. You May Have Trouble Getting An Agent Many agents do not advocate selling homes as-is. This means that when you look to hire an agent and you have him or her tour through your home, the agent may decline representing you. He or she has good reason — homes sold as-is can often sit for a long time on the market, and yield considerable headaches. If you invest in fixing up the house, however, you’ll have no trouble getting a real estate agent who will happily help you sell the...

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3 Ways To Get Your Kitchen Ready For An Open House

Posted by on 11:40 am in Uncategorized | Comments Off on 3 Ways To Get Your Kitchen Ready For An Open House

If you are trying to sell your home and are going to be holding an open house soon, try to focus on getting your kitchen ready for potential buyers. Kitchens are a big selling point for many buyers, and having a well-prepared kitchen could be the key to selling your home quickly and getting it off the market. #1 Open Up Your Counter Space The first thing that you need to do is open up your counter space. When potential buyers look at your kitchen, one of the first things that they will notice is the amount of counter space that you have. Your counter space helps define the overall flow of your kitchen, which is why you need to open up your counter space as much as possible. The first key to opening up your counter space is taking all of the clutter that can accumulate on your kitchen counters, such as keys, paperwork, and books, and putting them away where they belong. Next, take any small appliances that you generally keep on your kitchen counters, and put them away. This will help your kitchen counter look more open. Finally, if you have a lot of decorations out on your kitchen counter, work on cutting down the decorative pieces that you have on your counters. Stick to one or two pieces that bring together the overall feeling of your kitchen. #2 Organize Your Cupboards Potential buyers are going to want to open up your cupboards and drawers to see how much room is inside of them and how they are structured. If all of your cupboards and drawers are stuffed full of items and are hard to open or close, or just look really cluttered, it will give the idea to potential buyers that your kitchen does not provide enough storage space. Go through all of your cupboards and reduce the clutter. Make it easy to look inside of your cupboards and try to make it look like you have extra storage room in your kitchen instead of less. Take out appliances and extra sets of dishes that you don’t need to use, pack them up, and put them in storage to open up the space in your cupboard and drawers while you are trying to sell your home. #3 Clean Your Appliances It is always nice to purchase a home with appliances that work well and don’t need to be replaced or upgraded. Dirty appliances, such as a stove with dirty burners or a fridge that is full of food and has smudges all over it can distract from the quality of your appliances. Take some time to clean each of your appliances and to go through and organize your fridge. This will help the quality of your appliances shine through. Finally, make your kitchen smell inviting so that potential buyers can image themselves in the kitchen, cooking and preparing meals. You can cook some chocolate chip cookies right before buyers come over to make your home smell great and to provide a nice snack to potential buyers. You can also put some vanilla into a bowl and then put it in your microwave for fifteen to twenty seconds to give your kitchen a warm and inviting smell. If you only have time to focus on one...

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Discuss These Factors with Your Agent When Determining the Asking Price for Your Home

Posted by on 10:00 am in Uncategorized | Comments Off on Discuss These Factors with Your Agent When Determining the Asking Price for Your Home

Setting the asking price of your home when you decide to sell is never something that you should take lightly. It’s not a matter of thinking about the price of the home when you bought it, increasing this price slightly, and then listing the property. Coming up with the right price is something that you’ll need to discuss at length with your real estate agent. Pricing the home too high can result in little to no serious interest, while pricing it too low will take money out of your pocket. A wide range of factors can influence the price that you ask for the home. Here are some such factors to discuss with your real estate agent. Upgrades That You’ve Done Your agent will get a ballpark value for the home based on what other homes in the neighborhood have been selling for. However, it’s also important to consider what investments you’ve made in the home through upgrades. Renovating high-use rooms such as the kitchen and bathroom can help to increase the value of the home, but upgrades in any number of areas can also play a role. For example, a home with hardwood flooring throughout should command more money than a similar home with laminate flooring. Future Development in the Area It’s also important to consider what future development in the area will increase the value of your home. This is input that your real estate agent should have on hand. For example, if your community will be getting a new retail development, it could increase the value of your home in the near future — which could prompt you to ask for a little more in your listing price. Likewise, if you live in a small community outside the city but the highway will be expanded between your area and the city, this should increase the value of your home because of the ease of commuting between the locations. Homes around You The homes around your home can help or hinder the asking price you come up with. If your neighbors have beautiful homes that are impeccably cared for, your agent may suggest asking for a little more for your home. Conversely, if the curb appeal of your neighbors’ homes is minimal, this can make people less interested in buying your home. As such, your agent will advocate a lower asking price. This premise is why, in general, it’s ideal to have a lower-value home in a nice area — the beauty of your neighbors’ homes can help you get more for your home, even if it’s...

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