inspection: Potential Problems Missed by Virtual Tours - 10/21/20 07:09 AM
Home buyers need to be award of the short comings of virtual tour when they are unable to do a physically tour of a house.  There are things within a house that are more difficult to identify as potential problems when using a virtual versus touring a house.  This may be overcome somewhat by the person taking the photos being able to identify construction, electrical and plumbing problems.  Your real estate agent also needs to inspect and provide information back to potential buyer.  Up front, a home buyer needs to understand some of the short comings of a virtual tour when … (0 comments)

inspection: Explanation of Home Closing Costs - 02/06/20 06:35 AM
When buying or selling your home all buyers and sellers incur closing cost associated with the transaction.  Normally, closing cost (need to include commission and if 5% down payment) are about 8% to 12% of the property purchase price depending on the type of transaction, other than full cash transaction which may be less.  Shortly after signing a contract between a buyer and seller of property, many lenders are willing to provide a good faith estimate of proceeds involved in the transaction.  Your real estate agent should be making that request for their client.  The final closing disclosure of cost should … (1 comments)

inspection: Home Inspection Common Problems - 08/14/19 06:07 AM
Usually home inspections that have best chance to receive a clean inspection report are new homes that have never have been live-in.  Clean inspection report means there are no defects and meet current building code requirements in the area.  To insure there is no defects and property meets current building codes, the home buyer needs to request a third-party inspection at their expense.  Many times, this is worth the expense.  Home buyers who are buying a new home from a new home builder expect the home to be free of defects and meet the current building code rules.  Home buyers who … (1 comments)

inspection: Home Inspection Defects - 03/13/19 06:06 AM
Home inspections tend to uncover needed repairs for many properties.  Many times, these defects are uncovered during the sales cycle when selling a home.  In some states there are only a few days allowed to discover problems making it stressful on the home buyer.  It is important for the buyer’s agent to make every effort to negotiate sufficient number of days to allow the inspection to be competed and provide the home buyer reasonable time to respond back to seller.  Unfortunately, this does not always occur.  In this situation, if the listing agent and seller did a role reversal, my question … (2 comments)

inspection: Suggestions When Buying Home - 01/17/17 06:11 AM
First time home buyers who are thinking about buying a home may fine the task to be somewhat overwhelming, stressful, and confusing.  For first time home buyers, this can be scary if you are not property prepare, and surrounded yourself with professional people who you trust to give you proper direction. Following, are some tips that may be of value when selecting a new home:
Non-listed homes – Talk with friends, relatives and acquaintances to see if they are aware of homes that may be listed in the near future.  Once you hear of somebody, contact the owner to start negotiation.  This … (1 comments)

inspection: Suggestions How to Avoid Buying the Wrong Home - 07/27/16 03:43 AM
Buying a new home can be over whelming due to all the possibilities a potential home buyer must consider.  A buyer should not lose sight of all the things that are important to them as a result of all the whistles and bells that may be presented.  First, a home buyer needs to develop a checklist of must-haves to keep themselves on track.  Following are some suggestions that may help keep a home buyer on track:
Bedrooms – Be sure there is sufficient number of bedrooms, and they are appropriately located to accommodate your children, parents and guest.  At the same … (3 comments)

inspection: Understanding Home Buyer Terms - 07/29/15 05:54 AM
As a home buyer it is important to understanding concepts and terms prior to buying property. Throughout the buying process a buyer will be exposed to new terminology and needs the ability to understand these terms.  Following is a list of some important terms:
Abstract of Title – Historical record of legal ownership of the property.
Adjustable Rate Mortgage (ARM) – Variable rate loan where the interest rate changes based on an index.
Agreement of Sale – Written contract for sale signed by both parties which the buyer and seller agree to specified terms to transfer ownership of property.
Amortization – Process of reducing the … (1 comments)

inspection: Prepare Yourself Before Buying A Foreclosure - 06/04/15 11:29 PM
Any investor or homeowner wishing purchase a foreclosure property needs to realize it takes time and work to purchase this type of property.  These properties do exist and with due diligence you can be successful.  The main things you must evaluate prior to purchasing the property:
·    Determine the value of property – develop a market analysis of similar properties within the same subdivision.  Included with the market analysis should be an evaluation of the neighborhood, which includes what the neighborhood looks like, how fast homes are selling, and future resale value.
·    Determine condition of property – Have the property inspected by … (2 comments)

inspection: Home Buyer Mistakes - 05/21/15 10:32 PM
A home buyer will probably experience some uncertainty when they decide to purchase their home.  This experience can be exciting, confusing, and complex all at the same time.  What they do not want to do is to make serious mistakes during this process.  Following are some suggestions that may prevent a first-time home buyer from making serious mistakes:
·      Can you afford to purchase a house? – Determine how much you can afford to borrow and whether you qualify to borrow that amount.  When determining this amount, understand the life style you wish to live and be honest with yourself.  This … (0 comments)

inspection: Home Buying Tips That Save Money - 12/09/14 11:29 PM
New home buyers are always excited about purchasing a new home and want to buy the best home for the money.  Sometimes these buyers become frustrated during the buying process because they do not understand how to shop for a house.  Following are a few tips that may help buyers get into the right house and possibility save money in the long run:
·      Home inspection for electrical problems – Most home buyers are not experts when it comes to electricity.  Immediately after the buyer’s offer has been accepted by the seller the buyer should schedule a home inspection.  This … (0 comments)

inspection: Understanding Buyer’s Offer - 10/20/14 12:55 AM
After putting your home on the market, you finally receive an offer from a buyer.  If you receive multiple offers, you are going to want your realtor to notify all potential buyers that you are in multi-offer environment and give the potential buyer’s approximately 24 hours to submit their final and best offer.  After this has occurred, you will evaluate the offers.  Do not get carried away with the dollar offer, be sure to evaluate all the other terms within the offer.  Remember seller concessions which may include: personal, or real property, and/or seller contributing to the buyer’s closing cost which … (4 comments)

inspection: Mistakes Sellers Need to Prevent - 08/06/14 04:44 AM
Home sellers face a couple challenges when selling their home.  First, is the challenge of mentally preparing yourself to sell your home.  This tends to become more difficult the longer you have lived in your current home.  Second, completing tasks that will help you property show your home favorability to potential buyers.  This includes completing tasks both on the inside and outside of the home.   Following list identifies some areas where sellers sometimes take short cuts that end up being a mistake:
·     Home Inspection – If you have an older home consider doing a home inspection.  Doing a home … (6 comments)

inspection: Net Proceeds from Sale of Your Property - 04/16/14 11:36 PM
Prior to listing your home, a realtor should provide an estimate of net proceeds to the seller based on market analysis of your home.  After receiving an offer, revised net proceeds should be provided to you based on the terms of the offer.  In each state, the rules and cost associated with selling property may differ, therefore, it is best to employ the services of a realtor who is trained and understands which costs are normally buyer and seller expenses.  Also, remember, most expenses can be negotiated between buyer and seller.  Following is a list of expenses a seller may experience … (1 comments)

inspection: Why You Need a Home Inspection - 11/20/13 12:31 AM
When buying a resale home a number of the homes will have at least one major defect.  All previous owned homes probably will need repairs and improvements.  Prior to making a major investment into your new home, need to be aware of possible problems, and what it will take to correct the problems prior to closing on the house.  As a home buyer, you need to be aware of potential problems that may exist in a house, and how to identify those problems.  Following are some potential problems that can be found in a house:
·  The furnace may have a … (18 comments)

inspection: SUGGESTIONS ON HOW TO MAKE A HOME OFFER - 06/24/13 06:15 AM
When you have completed your pre-house hunting preparations, and have loan approval, you are ready to tour houses.  After selecting the house you wish to purchase you need to understand the type of market that exists in your area prior to making an offer.  Need to know whether you are in a sellers or buyer’s market. This will make a huge difference on what type of offer to make, and how to negotiate.  At the same time, be sure you understand your financial condition, the amount you can afford to pay, and terms associated with your new loan.  It is extremely … (1 comments)

inspection: Key Areas to Inspect When Purchasing Home - 11/05/12 10:09 PM
Buying a home can be both exciting and frustrating.  Before starting your home search, you need to develop a checklist of amenities that are a must, and nice to have.  Part of your checklist should include a visual inspection of important areas within the house prior to making an offer. Following are areas within a house that need an inspection:
·     Foundation:  Inspect for major cracks in the foundation and outside walls of the house. Cracks can be caused by certain types of soil which the home is built on, trees either too close to the structure or wrong type of … (0 comments)

inspection: Read Terms and Conditions of Purchase Agreement - 10/18/12 11:11 PM
Prior to purchasing your home you need to request a blank copy of a home purchase agreement and attachments.  Attachments are legal forms that cover specific aspects of your home purchase agreement.  Become familiar with these documents before signing a contract to purchase a home.  There are many terms and conditions within the contract, be sure you understand at least the following points in the written agreement:
·     The dates in which the inspection and negotiation for repairs need to be completed.  Normally, the purchase agreement provides a time period in which the buyer can complete these tasks.  This is a … (0 comments)

inspection: Buyers Consider Fixer-Uppers and Affordability - 09/11/12 10:53 AM
In today’s market some home buyers are only considering homes that are in move-in condition.  This is especially true with some first-time home buyers.  After touring many homes these buyers are becoming discourage because they are unable to find a home they can afford.  If this is true, the buyers should consider purchasing an older and/or fixer-upper home.  This will allow them to gradually build up equity, and give them a chance to more quickly purchase their dream home instead of continuing to pay rent.   If a buyer decides to go with a fixer-upper, get an inspection, and determine the estimated … (0 comments)

inspection: Understanding a Home Offer - 02/28/12 11:38 PM
Prior to receiving an offer for your property, it is good idea to become familiar with a sales contract.  This will give the seller a head start on understanding what they might receive in an offer.  Initially, the seller is most interested in the sales price, but the seller needs to give serious consideration to the other terms within the offer.  It is possible the seller may receive a full price offer, but net $15,000 or more under the asking price.  Following is a suggested way to break down an offer on your property:
·      Purchase price - The sales price … (2 comments)

inspection: Suggestions for House Hunting - 01/26/12 01:22 AM
After you have been pre-approved for a mortgage loan, and have sufficient cash to make a down payment on a house, then you are ready to find a house that meets your family needs and desires.  At this point in time, you need to be realistic about your needs and have patience during your house search.  You need to determine the neighborhoods that are suitable for your family needs, and know the maximum price you can afford to pay.  The maximum price you can afford to pay may be less than the maximum amount approved by your lender.  When determining the maximum … (1 comments)

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John Watts

Austin, TX

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Keller Williams Realty

Address: 12515-8 Research Blvd, Ste. 100 , Austin, TX, 78759

Office: (512) 751-3359

Mobile: (512) 751-3359

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