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Notes on Hiring a Contractor

Jan 14,2008

When you are selling your house and there are outstanding repairs or renovations that need to happen, you have two options. You can complete the tasks yourself if you have the know-how, the equipment and the drive to do so, or you can hire a professional contractor to get the job done. Here are some tips on how to find a decent, trustworthy contractor.

Tips on Hiring a Contractor -- Ask Around


The best way to find a reliable contractor is through referrals. Ask your friends and family if they can recommend a good contractor. If any of your neighbors have recently modified their homes, ask them if they were happy with the company they contracted to do the job. When you locate a contractor through personal referrals, you can take advantage of all the shopping around that's been done by your friends, family members and neighbors. This will make the contractor search process go by much faster. What's more, when you find a contractor through a personal referral, you have the opportunity to review the contractor's work in order to make sure that the contractor's efforts are up to snuff. When you're asking questions about the contractor's work, make sure to factor in the type of work that was completed, how that work compares to the tasks that you need to get done and what the budget was for the renovation project.

Tips on Hiring a Contractor -- Get Multiple Bids


Once you've identified a contractor, don't stop your search and go with the first guy you find. Shop around and get multiple quotes. Compare the estimates and weigh the pros and cons of each contractor. Ask questions about the quality of the materials that will be used during the project. When you're comparing different estimates, don't immediately choose the contractor who gave you the lowest quote. Find out what's behind the low bid. Is there a limited window on the time it will take to complete the task? Will there be construction shortcuts taken to keep costs down? Where will the materials come from? When you take a closer look at what's behind each bid, you'll get a more complete picture of what the contractor can offer. This will allow you to make a more informed decision on which contractor to go with.

 

A Better Understanding of Closing for Home Sellers

Jan 14,2008

If you are looking to sell your home, you need to educate yourself on the nuances of closing the deal. Sellers who are informed about the process and understand what their obligations are will be in a better position to maximize their returns during the sale.

Understanding the Closing Process -- A Seller's Perspective


Once escrow is opened, the closing period begins. While this will typically mean that a sale is near completion, there are a few things that you need to do during the closing period to make sure that everything goes as planned. Start by maintaining your house. Some sellers will start to neglect the upkeep responsibilities of their home once the final sale period closes in. Don't fall into this bad habit. Maintain your property's appearance throughout the closing process. If the buyer identifies something that needs to be repaired or modified in any way, don't dilly-dally. Complete the task so that you can cross the sales finish line more quickly. Make sure that you continue to pay your homeowners insurance throughout the closing period. You don't want to stop your insurance payments until the transfer of ownership is complete.

Understanding the Seller's Expenses During the Closing Process


Local laws determine what the seller is responsible for paying during the closing period. These terms are also negotiated in the sales contract. If the contract dictates that the seller must pay for certain things, the seller is obligated to follow through on these payments. The type of expenses that sellers can anticipate include any unpaid mortgage bills, escrow fees, insurance fees, title fees, real estate commissions and any outstanding property taxes.

The closing period is not the time to let up and skirt any remaining financial responsibilities. Finish the deal strong by fulfilling your part of the bargain. Understand what's expected of you and make sure you do everything in your power to complete the transaction.

 
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