Real Estate Information

- Most foreclosures have been unoccupied for several months and will surely be affected by that. You will need to be willing to put in some work and some cash to bring it up to code/living conditions. 

- If the house is on the auction block, you will likely need the full purchase amount in cash, as the lender or bank is looking to recoup as much from the defaulted loan as they can. They do not allow time for financing to take place. 

- Some states allow redemption to the homeowner, and HUD defines this as “...a period after [the] home has already been sold at a foreclosure sale when [a homeowner] can still reclaim [their] home.”  

- Because a foreclosed property is sold “as is,” you will not receive any disclosures, meaning, a home inspection is a must!  Depending on who owns the property will make a difference in how much time you must complete the inspection.   

- On the other hand, if the property is REO (real estate owned), you will be able to go through the home-buying process in the usual way and have time to secure financing for your purchase. 

- An REO will be sold as-is just like an auctioned house, and all repairs will have to be done by the new owner--there are no repair requests or contingencies granted. 

- For buyers that are new to the foreclosure-purchase game, going through a bank to buy the property is your best bet versus auctions. Once you gain some experience in the process, try your hand at auctions. 

- For any distressed property, make sure you have a title search performed. Buying a foreclosure takes long enough, and you want to make certain you will not run into any roadblocks. 

Nothing shouts “Don’t buy me!” more than an unkempt yard!  If nothing else, keep the grass cut and weeds and shrubbery trimmed. Put a bit more effort into it, and put down fresh mulch in the flowerbeds, and add a pot of flowers to the top step. 
 

No one wants to walk into a house with plastic storage containers stacked up in each room “hiding” the seller’s clutter. When you declutter, get rid of things, or put them in storage if you cannot part with them. Your rooms will appear larger without a lot of stuff in them. 
 

Touring a house that has a grimy stove or mildewed bathtub caulking is a huge turn-off:  no one wants to move into a dirty home. If you cannot find the time to clean the house spotless, hire a professional to do it. 
 

Natural light is important to most home buyers, so window treatments that block light need to come down, cleaned, and stored for moving. Add sheers, blinds you can open, or pull the shades up completely when you know the house is being shown. 
 

Items such as rodent traps or insect baits, should not even be an option for you. If you know you have mice or insects in your home, have them exterminated before you put a sign in your yard.  
 

Wall-to-wall carpeting is not as appealing to buyers today as it was in the past. If you can afford it, remove carpeting that is hiding hardwoods and spruce them up. No hardwood? Have the carpets professionally cleaned, and if you really need to sell, offer a new carpet credit to buyers. 
 

When you know about a problem and don’t bother to make repairs--think dripping faucets or cracked windows--buyers will not be impressed with your house, and if they’re remotely interested, offers won’t be close to your asking price. 
 

Any unpleasant odors will put off most people, and homebuyers will wrinkle their noses as soon as they walk in. Cleaning is important to remove dirt, but you need to clean for odors, too. Follow these tips from realtor.com® for removing any funky smells from your home. 

- The most common types of fencing are wood, vinyl, and metal. 
 

- The type of wood you choose depends on your budget. Pine is inexpensive and treated to resist rot and insects. Different types of cedar and Douglas fir, on the other hand, is naturally resistant to moisture and pests and will cost more upfront. 
 

- Wood composites are made of sawdust and recycled plastic. It looks like wood and comes in many styles, finishes, and colors. Most manufacturers of composites offer a warranty on their products, making it a more expensive choice, but a long-lasting one. 
 

- Vinyl fencing is almost maintenance-free and comes in many styles. Costs are high initially, but its durability and little upkeep pay for themselves in the end. 
 

- Wrought iron, aluminum, and chain link fencing are all long-lasting choices. Chain link is likely the easiest for DIY, but the others would be best installed by a pro. Maintenance for wrought iron mostly consists of painting and keeping an eye out for rust.  
 

- If cost is not an option but security and durability are your concerns, there is the option to have steel fencing installed.  
 

- Hiring a fencing contractor is a smart move because they are knowledgeable about materials and styles that perform well in your area.  Installing fences is what they do; their expertise can save you money and time in the long run. 

Energy Efficiency:  Energy-Star windows, smart or programmable thermostat, LED lightbulbs and full-house water heater are all attractive to buyers who are concerned about energy costs as well as those concerned about going green. 
 

Home office:  If there is no room in your house that is a dedicated home office, create one!  Stage a space in the kitchen or living area or smaller bedroom with what appears to be a working spot. 
 

Upgraded kitchen and bathrooms:  While completely renovating these rooms are a possibility, it may not be in your budget. Take a good look at each, and decide what wallet-friendly projects will make them look new: painting kitchen cabinets, new stainless appliances; in the bathroom, new faucets, lighting fixtures, or add pizazz by framing a mirror in glass tiles. 
 

Dining space:  An eat-in kitchen or open-flow kitchen and dining room are what many are looking for, especially families. Kitchen islands with seating will suffice when the budget does not allow for creating space for a dining table in the kitchen. 
 

Organized storage:  Buyers want homes with ample storage. While you can’t create space, you can build space in closets and the laundry room by adding shelving or pre-fab storage systems. 
 

Hardwood flooring:  While not an inexpensive project, consider putting hardwoods or less costly engineered wood in the entryway and living space. 
 

Security:  Front-door video cameras, plenty of outdoor lighting as well as smart lighting features are all great for starters.  

- Coffee containers 

- Milk jugs 

- Laundry detergent/bleach jugs 

- Disinfectant or baby wipe containers 

- Soft drink bottles 

- Cat litter jugs 

- Root vegetables like carrots, onions, beets 

- Most herbs:  basil, parsley, sage, dill, rosemary, chives 

- Tomatoes can be grown inside, but that job is best for Winter, as a sunny window can get too hot inside. 

- Houseplants do not have to be only green in color! Add a burst of color to your interior with African violets, begonias, kalanchoe, jasmine, and geraniums. 

- Leafy veggies like lettuce, celery, or bok choy will sprout new plants from the base. Placed cut-side up in a dish with about ½” of water in a sunny window will soon produce new leaves, and eventually, a full-grown plant ready for the table! 

- Try the other side of root vegetables, the greens, by placing the cut-off top of a beet, turnip, or other root vegetable into a dish of water. Leaves can be sautéed or used in a salad. 

- Many have seen how to grow a pineapple plant from scraps, but other fruits may need more care and patience.   

- Seeds from peppers will produce plants, just be sure to use seeds from the red fruit; the green peppers, though delicious, are not ripe, and neither is the seeds inside. 

- Planting seed from fruits like apples and even citruses can be fun to watch grow into a small tree, but all take years before producing any yield. Avocado trees, for instance, can take up to thirteen years before producing. 

Roof:  Your roof is probably your home’s most important part of its structure, so inspect it well:  take binoculars or use your phone’s camera to zoom in on the roof and look at every aspect. Check for damaged, missing, or curling shingles. For a tile roof, look for cracks or missing tiles, and metal roofs should be gone over for loose screws or damage to the metal. On a rainy day, go into the attic and check for leaks. Have any issues repaired as soon as you possibly can. 
 

Foundation:  The other important side of your home is its foundation. Check for cracks in the bricks, look at the grading around the outside (making sure water is running away from your home), and check for gaps in the outdoor walls and windows. On the inside, look for sagging floors or bowing walls, doors that do not want to close or windows that do not want to open. These are all signs of possible foundation issues. 
 

Siding:  Look for peeling, blistering, or fading paint, as these may be signs that you need new siding. Check for rot and warping on the soffits and any fascia boards. Visible mold can be a sign of a major moisture issue and should be investigated by a pro. 
 

Plumbing:  Grab a flashlight and go under your sinks and look for any signs of leaking. Toilets can leak “silently,” and you can figure out where the leak is coming from with a little food coloring and time.  Inspect around the water heater for any signs of leaks as well. 
 

Smoke/CO Detectors:  If you have battery-operated detectors, checking the batteries is fine, but you need to be sure they are working as well. CO detector kits are available at most home stores and testing a smoke alarm is as simple as blowing out a candle and allowing the stream of smoke drift towards the smoke alarm. Be sure to let everyone in the house know you are “crisis testing” the alarms! 
 

Gutters:  On a rainy day, or using the water hose, check to be sure gutters and downspouts are running freely (no clogs), and have no leaks around the seams. 

- Have an empty box or laundry basket handy and take everything on the handing rod off so that you must look at everything as you’re cleaning. 

- If it hasn’t been worn in six months, doesn’t fit, or you simply don’t like it anymore, get rid of it.  

- Try on anything that you’re not sure about. If you still love it, and it fits, keep it. Otherwise, send it to the declutter box. 

- Business attire can be donated to charities that assist those on limited incomes with their wardrobe for job-hunting.  Women's clothing can be donated through dressforsuccess.org, and men’s clothing is accepted through careergear.org. Be sure to check with any organizations for their policies for donations. 

- Once you’ve gone through everything, re-hang your items by color or season so you won’t be spending a lot of time hunting them down. 

- Same as with clothing, get rid of any shoes or accessories you haven’t worn in a long time, no matter the reason.  

- Organizing shoes can be a pain with or without their original boxes. Purchase clear plastic shoe boxes in bulk at a discount store and use them to store lesser-worn shoes. 

- Place hangers on the back of the closet door or other little-used space, and hang hats, ties, scarves or even jewelry.  Keep your most-used items at eye-level. 

- Storing sweaters on a hanger isn’t the best thing for the sweater--they’ll end up misshapen. Fold them and place them in a plastic storage container lined with fabric softener sheets or sachets. A hanging shoe organizer would be another great way to keep them in shape--just roll them up and put them in the pockets. 

- Add a second rod to your hanging space, which can be a DIY for one day, or purchase a kit that makes this one a cinch to add more storage. 

- For closets with limited space, use wall-mount towel rods and shower curtain hangers to hang handbags or other odds and ends. 

- Use laundry baskets for storing odd items on the top shelf. 

Spruce up your patio furniture with new pillows or make some no-sew covers with what you have on hand! 
 

Adding lights is an inexpensive way to make the time last longer: add strings of LED’s to ground cover, wrap tree trunks with string lights, and no outdoor structure, no problem with this DIY on creating easy lamp posts to define a seating area! 
 

Pools are great and make the backyard irresistible for the whole family! Affordable options like easy set up pool kits can get you swimming in just a day!  
 

Speaking of water, did you know that backyard splash pads are catching on? If your municipality allows them, DIY or have a permanent play area installed! Inflatable or portable splash pads can be bought at most discount stores or online. 
 

Who says swings are just for porches? Hang a porch swing from a sturdy tree branch or add a platform swing (store-bought or DIY).  
 

Everyone loves a treehouse! It can be as simple as a deck/platform built in the branches or a full-out house with walls and a roof. The Family Handyman has some great ideas and tips for building a tree structure. 
 

Make an outdoor exercise spot or place to practice your yoga!  
 

Get outside with the dogs, especially if you create a playground for your dogs. Playing with them outside is good for both of you. When they want to be on their own, Cesar’s Way has a few suggestions for making your backyard more fun for your furry friends. 

Mortgage lenders in order to be adequately prepared to begin looking for a new house, you should be pre-approved. It’s best if you look at a few different lenders in order to find the best loan, so before you go, see what the balance recommends for finding the right mortgage for you. 
 

Real Estate Agents The agent you choose to assist you on your new home search is extremely important, as they will be your resource and constant contact throughout the home-buying process. In most transactions, there will be a listing agent representing the sellers, but it’s unlikely you’ll be meeting them. 
 

Appraiser Your lender wants to be certain that the house you want to buy is worth what the seller is asking and will have a home appraisal done by a qualified person.  Learn more about what’s involved with the appraisal from realtor.com®. 
 

Home Inspector Once your offer has been accepted, it’s in your best interest to hire an inspector to go over your prospective new home.  You don’t want any surprises with structural issues or mold or insect infestation after you have the keys in hand. Call a few before you decide who to hire, and ask these important questions when you contact them. 
 

Homeowners Insurance Agent This agent should be familiar to you, as you already have auto or even renter’s insurance. Most insurance companies offer a discount for having more than one policy with them, and it may be an easy fit to go with your current company. Don’t let that stop you from shopping around for better rates, however. 
 

Real Estate Attorney Many states require you to hire an attorney, as they will go over all the documents, handle funds, and perform the title search, to name a few of their jobs during the home sale process. Find out why it’s always a good idea to have a real estate attorney, whether it’s the law or an option. 
 

Title Insurer  In case there are any questions about the sale of the home being legitimate (no liens, family feuds, etc.), you’ll need title insurance, and in most cases, the lender or attorney will already have that lined up. 
 

Mortgage Servicer Sometimes, a lender will sell your loan to a mortgage servicer, and you will be notified if that happens. Learn the difference between a lender and a servicer at Investopedia.  

Growing a lawn is labor intensive:  keeping it green requires large amounts of water and regular mowing. Gardening Know How has a guide for creating a meadow, growing ground cover, or ornamental grasses, all perfect solutions for going lawn-free. 
 

Faux grass--it’s not just for indoor sports arenas anymore. The industry has come a long way in the production of synthetic grass, and it could be the perfect solution for those in drought-prone regions, or for someone who simply doesn’t want to mow their lawn every weekend.  Depending on the size of your property, it can be expensive, but HouseLogic just might change your mind about installing fake turf! 
 

Drought-tolerant plants will thrive without a lot of water, obviously. You can find twenty-one plants listed here, with their USDA hardiness zone included. 
 

Every yard has its problem areas:  rocky soil, drainage issues, shady areas--these can all be planted with a little effort, and don’t normally need a lot of care afterward.   
 

Mulch is a landscaper’s friend!  One tip from the Love Your Plants website is to add at least two inches of mulch for it to be effective. Check their website for more information about using mulch to benefit your plants and cut back on keeping up the flowerbeds.  
 

If you’ve ever seen a hedge of hydrangeas in full bloom, you know how beautiful shrubs can be!  Hydrangeas are one shrub that doesn’t require a lot from you, and This Old House lists many more according to plant zone to encourage you to plant a low-maintenance hedge. 
 

A traditional flower bed filled with annuals isn’t necessarily maintenance-free, but using drip irrigation or soaker hoses under the mulch will certainly cut back the amount of time it takes for you to water them yourself, and use the water more wisely than using sprinklers or hose attachments.