Tag: title insurance

Get Your Home Ready to Sell While You are “Social Distancing”

Scientists, doctors, and public health experts are urging—begging—everyone to practice “social distancing” or deliberately creating space from other human bodies. No bars, no gyms, no restaurants, no concerts, no parties. It’s an effective way of slowing the spread of Covid-19. This is the perfect opportunity to take the time to get your house ready to sell this Spring.

Research your local housing market

Get on the internet with your coffee and start doing research on the value of your home. You can find information on Realtor.com and a local Realtor can direct you to other websites that can help. Look at the comparable sales in your neighborhood. Check on the square footage, special features and locations of the comps. How do they compare to your home? Browse online listings.

Find a listing agent

If you don’t have a Realtor that you want to use, do the research online to find the best one in your area. Ask friends and neighbors, review websites, do a search on social media and see who is using it and how they are using it.

Declutter & Depersonalize

The more personal your space, the harder it is for buyers to imagine themselves living in your home. A rule of thumb is to get rid of a third of your “stuff”. What a time to go through closets and get make piles of clothes you don’t wear to give away. How about your kitchen cabinets? When was the last time you organized them? Move room to room, turn on the music and have some fun.

Do a Deep Cleaning

  • Steam Cleaning the Carpets –Not as easy if you don’t own your own steam cleaner. If you do, now is a great time to do it.
  • Remove Pet Smells – Pet owners don’t always smell pet odors because they’re so used to them, but others will. Steam cleaning the carpets will remove a lot of odors. Consider cleaning the upholstery as well.
  • Windows – Clean the windows inside and out.
  • Garbage cans – Clean them thoroughly with bleach to remove any odors.
  • The oven and stovetop – Ovens are a common source of unpleasant odors.
  • The refrigerator – Empty it. Clean it thoroughly. Throw away any old foods.
  • The dishwasher – Thoroughly clean and sanitize the inside of the dishwasher.
  • Bathroom grout – Mold stinks. Grout often gets moldy. Clean the grout.
  • The shower stall and curtain – Bleach and elbow grease and put your shower curtain in the washing machine.
  • The basement – Do a wall-to-wall cleaning, remove mold, and seal any cracks.
  • Air Ducts – Grab your vacuum and the hose extension and suck out the dirt and dust.

Work on the Curb Appeal

We know that the way our home looks from the outside, the curb appeal, is a big part of selling the home. Buyers driving up can be turned off just by the way the exterior of your home looks. Often times, they won’t even go into the home.

Focus on the Front Door and Porch – You never get a second chance to make a first impression. The porch should be clean and freshly painted. There shouldn’t be any loose boards, no areas of rot, and no creaky steps. The front door should be attractive, substantial, and well-framed.

Add Fresh Mulch and Flowers – Your house may be impeccably maintained, but if the rest of the property is a mess, it won’t matter. Dead flowers and pale, lifeless mulch are non-starters when it comes to curb appeal.

Always Have a Fresh-Cut Lawn – Making sure the lawn is tidy and free of bare spots is crucial. It provides the entire property a put-together aura. Not only that, but it also endows the air surrounding the home with an appealing scent.

Cut Back Trees and Shrubs – Trees and shrubs are great, but they shouldn’t have a wild appearance, especially if the rest of the house is impeccably maintained. If you can’t do it yourself, hire a professional landscaper to cut back the trees and shrubs.

The Bottom Line: Treat this situation of being homebound as a gift. Take advantage of free time and get your home in order to put on the market.


Share This Post

Navigating Your Business Through Coronavirus Fears

Employers, Human Resources and in-house counsel are grappling with how to respond to the Coronavirus (COVID-19). This provides employers with guidance on how to address the impact of the virus on the workplace and what employers can and cannot do. This is a rapidly developing issue, and this guidance should be reconsidered and/or modified as circumstances change.

What To Do Now

Do Not Panic – Employees and employers are rightly concerned about this issue. However, do not panic. Not everyone who has flu-like symptoms has the virus and you should not send everyone home who is sick or has the flu. An overreactive response by an employer could spark unnecessary panic in the workplace, disrupting operations.

Have a preparedness plan – Create (or review) an operations plan to be prepared and involve all necessary stakeholders (i.e., HR, operations, facility/maintenance, legal, etc.). At a minimum, the plan should:

  • have a process in place of how to address an employee who is suspected of having exposure or symptoms, and determine who will make the decision of sending an employee home or prohibiting the employee from working.
  • contain a communications protocol to notify employees of possible exposure, including who will communicate, the method and where employees can get more information.
  • have a communication strategy to handle press inquiries or customer/client inquiries.
  • address whether to limit business travel or cancel any upcoming conferences or large gatherings (consider phone or video conferences in lieu of in person meetings, even if individuals are in the building).
  • identify how to handle increased employee absences due to illness (or suspected illness), school closings, disruptions in mass transit or employees who refuse to work because they are scared.
  • identify positions that are eligible for work-from-home arrangements on either a temporary or permanent basis.
  • prepare for how the business will continue to operate if there is mass absenteeism, especially the absence of key employees. Is cross-training possible?
  • determine whether furloughs or temporary layoffs are may be necessary in the event of a reduction in business, supply, etc., and how will they be implemented.
  • you are not required to report actual or possible infections to public health officials; however, state and local public health agencies have hotlines to make inquiries or voluntarily disclose infections at work. Have this information handy.
  • OSHA does not require you to take more than reasonable steps to protect employees. You do not have to provide face masks or gloves.
  • determine whether exposure at work or an infection from an employee is reportable to your workers’ compensation carrier.

Be Proactive – Strongly encourage employees to take proactive measures to prevent infection:

  • make hand sanitizer and tissues available.
  • inform employees of the recommendations of health care professionals, such as:
    • washing hands often with soap and water for at least 20 seconds or use an alcohol-based hand sanitizer if soap and water are not available.
    • avoid touching eyes, nose, and mouth with unwashed hands.
    • covering your mouth and nose when sneezing or coughing, but not with your hands. Discard tissues after each use.
  • cleaning and disinfecting frequently touched objects and surfaces with recommended products. Work with your building’s facilities department to confirm that they are taking appropriate steps to adequately clean and disinfect frequently touched objects, such as door handles, bathrooms and kitchen areas.

What You Can and Cannot Do

If you believe an employee may have COVID-19, you CAN:

  • ask if the employee has flu-like symptoms, such as fever, chills, along with a cough or sore throat.
  • “screen” employees who may be at high risk of infection and ask questions that would help determine risk of infection or exposure (i.e., persons who traveled to an area with an outbreak or people who may have been exposed to high risk individuals).
  • separate and send home employees who appear to have flu-like symptoms and have other factors to suggest high risk for infection (i.e., travel or exposure to another person with COVID-19).
  • encourage employees to go to a health care provider to be tested for COVID-19.

If an employee is confirmed to have COVID-19, you CAN:

  • require the employee to provide medical documentation from a health care provider clearing the employee to return to work.
  • inform employees that there is a risk they have been exposed to COVID-19 in the workplace, but maintain confidentiality as to the person who may have exposed them.
  • discuss possible accommodations with the employee, such as working from home, leave of absence, etc.

If an employee cannot work:

  • consider whether the absence may be covered by the Family and Medical Leave Act, especially if the employee is hospitalized or absent for three days or more. Remember, the standard is reasonable notice, so you should send the eligibility and notice of rights and responsibilities if there is a possibility that the FMLA may apply.
  • consider whether any other paid or unpaid leave policies apply, such as sick, vacation/PTO or personal leave (for employees not eligible for FMLA), and whether you will require employees to use paid sick or vacation/PTO.
  • review legal requirements regarding whether exempt employees must be paid their salary. For example, if you require an exempt employee not to work, then they must be paid.

For employers of unionized employees – Be mindful of your collective bargaining agreement provisions on leaves of absence, accommodation for disabilities or medical conditions, furloughs, closure of facilities or departments, and other related provisions before you make any decisions related to the coronavirus. Discuss these issues with union representatives now.

You CANNOT:

Discriminate – Do not single out employees based on national origin, race, ancestry or citizenship status. Enforce harassment policies where other employees may make comments or jokes about an individual’s national origin, race, ancestry or citizenship status.

  • You cannot prohibit employees from traveling to destinations for non-business reasons, but you may encourage them to check the Centers for Disease Control’s Traveler’s Health Notices before making travel decisions.
  • You can ask employees who have traveled to areas with COVID-19 outbreaks if they have any symptoms, but you cannot require these employees to stay home if they do not have symptoms.

Make disability-related inquiries – You may not make medical inquiries of disabled employees to determine whether they have a compromised immune system and are more susceptible. However, you may inquire why an employee has called off from work.

  • You can ask non-disability-related questions, such as if employees will have trouble working if schools are closed, they need to care for other dependents, or if they are identified as high risk for illness (i.e., pregnancy, persons over 65 years of age, people with respiratory problems).
  • If an employee with a disability voluntarily discloses their disability because they are concerned that they are susceptible, you must engage in the interactive process (determine what if any accommodation is appropriate under the circumstances) and keep this information confidential.

Require employees to take certain actions – You may not require that your employees get a flu shot or require them to submit them to medical testing if they have no symptoms and are not at high risk.

Reliable Sources – There is a lot of misinformation out there and assumptions being made. You should make decisions based on reliable sources and follow recommendations from public health professionals.

Share This Post

Title Insurance & New Construction

Title insurance is a must-have if you’re buying a home that someone else has owned. But what if you’re paying for a brand new home to be constructed? Or one that has just been built? It may not seem necessary because no one is selling the house, because there is no house, or no one has lived in the house, so why would you need title insurance?

Although a brand new home has no previous owners, the unimproved land may have had prior owners. A title search reveals any existing liens on the land. Title insurance also protects against potential contractor liens from a builder who may have failed to pay his suppliers or subcontractors. To ensure a clear title, lenders require buyers to purchase a Loan Policy of Title Insurance. The Loan Policy only protects the lender’s interest. You can protect yourself from overlooked title threats by purchasing an Owner’s Policy of Title Insurance.

The Bottom Line: In the end, it is advisable to make sure that the title is clear. Anyone buying a new construction home should get title insurance. So much goes on with new construction which could affect the title: potential issues with new boundary lines, potential liens from subcontractors, outstanding construction loans, etc.

Share This Post

Would You Buy A House “As-Is”?

Realtor

Sometimes we fall in love with a home that is being sold “as-is” which benefits sellers and can either be a great deal for buyers or a complete nightmare. Legally, “as-is” means that the seller doesn’t want to make repairs, of which there can be many. The buyer then gets the home but with no guarantee that something is not minutes away from completely breaking down and needing to be replaced. What the buyer sees is what the buyer gets and sometimes more because there is no telling what you can’t see.

However, “as-is” does not always mean there are issues broken beyond repair. Often there are simply minor and even no issues. It means you are buying the home in whatever condition it is currently in. You can have an inspection done but won’t be able to negotiate to get the repairs done

While the home that is being sold “as is” is most likely priced lower than it’s neighbors it does not mean you would be getting the home for a bargain. If there are repairs to be made, there will be a cost. It would be good to get an inspection so that you know what repairs need to be made and what it will cost to get them done before you call the home a “bargain”.

Getting a loan for a home sold “as-is” is not an easy one. Banks use homes as collateral and any home in poor condition can be grounds for a loan being rejected. Buyers would have to come up with the money on their own.

Other than getting an inspection, which is definitely recommended so that you know what you are getting yourself into, an experienced Realtor should be hired. A good agent will help to appraise the home based on comps and then based on the “after repair” value. Negotiating will be much easier with the seller when you have the help of a Realtor.

The Bottom Line: There are plenty of homes on the market listed “as-is” that discourage many buyers. Of course, you should be cautious, but “as-is” does not always mean that the house is a money pit. Sometimes the seller can’t vouch for any repair work that has been done – thus an inspection can help and a decision can be made accordingly. Or, the home could have been inherited and the seller is not aware of issues and does not want the responsibility of fixing any problems. Whatever the reason, it’s in the buyer’s best interest to get all the information about the house before an offer is made.

Share This Post

Renovations to Skip if You Plan to Move

1. Swimming Pools
Swimming pools are one of those things that may be nice to enjoy at your friend’s or neighbor’s house, but that can be a hassle to have at your own home. Many potential homebuyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen. Families with young children, in particular, may turn down an otherwise perfect house because of the pool (and the fear of a child going in the pool unsupervised).

2. Out-Building the Neighborhood
Often homeowners try to increase the value of their home so they make improvements to the property that unintentionally make the home fall outside of the norm for the neighborhood. While a large, expensive remodel, such as adding a second story with two bedrooms and a full bath, might make the home more appealing, it will not add significantly to the resale value if the house is in the midst of a neighborhood of small, one-story homes.

3. Extensive Landscaping
Homebuyers may appreciate well-maintained or mature landscaping, but don’t expect the home’s value to increase because of it. A beautiful yard may encourage potential buyers to take a closer look at the property, but will probably not add to the selling price. If a buyer is unable or unwilling to put in the effort to maintain a garden, it will quickly become an eyesore, or the new homeowner might need to pay a qualified gardener to take charge. Either way, many buyers view elaborate landscaping as a burden, though attractive and, as a result, are not likely to consider it when placing value on the home.

4. High-End Upgrades
Putting stainless steel appliances in your kitchen or imported tiles in your entryway may do little to increase the value of your home if the bathrooms are still vinyl-floored and the shag carpeting in the bedrooms is leftover from the ’60s. Upgrades should be consistent to maintain a similar style and quality throughout the home. A home that has a beautifully remodeled and modern kitchen can be viewed as a work in process if the bathrooms remain old. Thus, a kitchen upgrade might not get as high a return if the rest of the house needs work. High-quality upgrades generally increase the value of high-end homes, but not necessarily mid-range houses where the upgrade may be inconsistent with the rest of the home.

5. Carpeting
While real estate listings may still boast “new carpeting throughout” as a selling point, potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. Carpeting is expensive to purchase and install. In addition, there is growing concern over the healthfulness of carpeting due to the amount of chemicals used in its processing and the potential for allergens (a serious concern for families with children). Add to that the probability that the carpet style and color that you thought was absolutely perfect might not be what someone else had in mind.

Because of these hurdles, wall-to-wall carpet is something on which it’s difficult to recoup the costs. Removing carpeting and restoring wood floors is usually a more profitable investment.

6. Invisible Improvements
Invisible improvements are those costly projects that you know make your house a better place to live in, but that nobody else would notice – or likely care about. A new plumbing system or HVAC unit (heating, venting, and air conditioning) might be necessary, but don’t expect it to recover these costs when it comes time to sell. Many home buyers simply expect these systems to be in good working order and will not pay extra just because you recently installed a new heater. It may be better to think of these improvements in terms of regular maintenance, and not an investment in your home’s value.

The Bottom Line
It is difficult to imagine spending thousands of dollars on a home-improvement project that will not be reflected in the home’s value when it comes time to sell. There is no simple equation for determining which projects will garner the highest return or the most bang for your buck. Some of this depends on the local market and even the age and style of the house. Homeowners frequently must choose between an improvement that they would really love to have (the in-ground swimming pool) and one that would prove to be a better investment. A bit of research, or the advice of a qualified real estate professional, can help homeowners avoid costly projects that don’t really add value to a home.

Share This Post

HTTPS vs. HTTP Tips from ALTA

typing

Many companies still use what’s commonly known as HTTP (Hypertext Transfer Protocol) to communicate between different systems and allow for the transfer of data from a web server to a browser, allowing users to view web pages.

Prior to 2014, only companies with e-commerce pages bothered using HTTPS, which stands for Hypertext Transfer Protocol Secure. Then Google recommended websites switch to HTTPS. As an incentive, Google said it would give websites with HTTPS a bump in rankings, effectively punishing sites that did not make the switch.

The most important difference between the two protocols is the SSL certificate. HTTPS is basically an HTTP protocol with additional security. This additional security can be extremely important, especially for websites that take sensitive data from its users, such as credit card information and passwords.

When someone connects to a website with regular HTTP, the browser looks up the IP address that corresponds to the website, connects to that IP address and assumes it’s connected to the correct web server. Data is sent over the connection in clear text. An eavesdropper on a Wi-Fi network, your internet service provider or government intelligence agencies like the NSA can see the web pages that are being visited and the data that’s being transferred.

With HTTPS, the SSL certificate encrypts the information that users supply to the site, which basically translates the data into a code. If someone manages to steal the data being communicated between the sender and the recipient, they would not be able to understand it due to this encryption. In addition to adding that extra layer of security, HTTPS is also secured via Transport Layer Security (TLS) protocol. TLS helps provide data integrity, which helps prevent the transfer of data from being modified or corrupted, and authentication.

While HTTPS is commonly used for secure communication of information over the Internet, it does not mean the information and any NPI within the information is secure. If the NPI itself isn’t secured (encrypted, password protected, etc.), then it doesn’t matter if it’s transmitted via HTTPS or HTTP.  A company should make sure NPI is protected for any forms of transmission, transfer or storage.

The third pillar recommends companies adopt and maintain a written privacy and information security program to protect non-public personal information (NPI) as required by local, state and federal law.

Specifically, the procedures for network security of NPI suggest companies:

  • Maintain and secure access to company information technology
  • Develop guidelines for the appropriate use of company information technology.
  • Ensure secure collection and transmission of NPI.

Share This Post

The Importance of a Realtor When Buying a Home

Be sure to vet and find the best Real estate Agent before you set out to look for your next home. They will play a huge role in one of the most important financial decisions of our lives. When it comes to buying, selling, leasing, or renting, they will lead us through a sometimes bumpy and overwhelming process.

Websites can help you find the area you want to live in, even some of the houses that you want to see. But, an experienced Realtor can offer a level of expertise in the market that you won’t be able to get without her.

1. Advice. Expect your Realtor to provide advice relating to homes even before you tour them. A good agent will have already learned from you about what you want & need, what your preferences are and what your budget is. She will be able to help you narrow your search and identify your priorities.

2. Educate. Your Realtor will be able to provide data on the local home market and comparable sales. The home-buying process can be complicated. A good agent will explain the steps involved and make sure that you understand them and provide counsel to you.

3. Network. An agent who is familiar with the neighborhoods that you are interested in and will often know about pocket listings. Experienced agents tend to know other agents in the area and have good working relationships with them; this can lead to smooth transactions. Your agent may also be able to refer you to trusted professionals including lenders, home inspectors and contractors.

4. Advocate. When you work with a buyer’s agent, their fiduciary responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who’s contractually bound to do everything in their power to protect you.

5. Negotiate. Your agent will handle the details of the negotiation process, including the preparation of all necessary offer and counteroffer forms. Once your inspection is done, the agent can also help you negotiate for repairs. Let the agent do the “dirty work” and ask for things to be fixed. They know how to negotiate from experience and what will and will not work.

6. Paperwork. A real estate transaction can be exhaustive, not to mention all the federal, state and local documents required. If you forget to initial a clause or check a box, all those documents will need to be resubmitted. A good real estate agent understands the associated deadlines and details and can help you navigate these complex documents.

7. Knowledge. Plenty of issues can kill a deal right before the closing; perhaps the title of the house isn’t clear, the lender hasn’t met the financing deadline or the seller has failed to disclose a plumbing problem. An experienced real estate agent knows to watch for trouble before it’s too late, and can skillfully deal with challenges as they arise.

The Bottom Line: You can buy a home without a Realtor. People do it all the time. But, going at it alone can be a risky bet. There can be a lot of legal loopholes that can be overwhelming and confusing for someone not experienced in the real estate business. Buying a home is a long and often very emotional process. The Realtor will handle all the stress for you that goes with finding financing, negotiation, and closing.

Share This Post

Serious Problems in Overpricing Your Home

Putting your home on the market and want to get the most you can out of the sale? Of course, you do. We all do. However, there are issues associated with listing your home too high. After you review the comps from your neighborhood, you come to your own conclusion that your home is worth more. You can even find Realtors who will agree with you but know that the very best Realtors will tell you that overpricing a home can lead to serious problems.

Problem #1: Listings get the most showings in the first 30 days of being on the market. If a home is priced too high, buyers may choose to ignore it or put it in a “wait and see category.” The longer the home sits unsold, though, the more negatively it is viewed. Buyers will think it must be overpriced or there is something wrong with the home. If you wait too long to do drop the price, most of those “wait and see” buyers will have already moved on and there will be a smaller pool of buyers interested in your listing as the days on the market increase.

If the home is on the market too long, potential buyers will think they are in a better negotiating position and you may end receiving a low ball offer, which can be frustrating. Even if you can negotiate up, it will be for far less than your original asking price. If you want to attract as many potential buyers as possible, it’s important that the home is priced correctly from the onset of it going on the market. 

Problem #2: An overpriced home helps your competitors. When a buyer looks at your home and then visits another that is priced the same but comes with more features, your competitor’s home will look like a much better deal.

Problem #3: If your home sits on the market for too long, neighbors and potential buyers will assume that there is a problem with it. The home will be stigmatized, and buyers will either be too turned off or too afraid to check it out.

No one wants to buy a house that nobody else seems to want. A house that sticks on the market for months often generate suspicions that some undisclosed feature or element is making it unsalable.

Problem #4: A buyer is interested in your house and willing to pay the price you are asking. But they need to get money from the bank to pay for it. All banks demand an appraisal of any property they loan out money for, and yours will not be the exception. The market runs the appraiser and they will appraise your property in accordance with it. When the appraiser comes back with a noticeably lower market value than the price the buyer is offering the bank will likely refuse to give the buyer a mortgage. This can lead you from a safe selling to an unsuccessful mortgage application leaving you with no option than seeking more buyers.

The Bottom Line: Find an experienced Real Estate Agent and listen to their advice for pricing your home, stay realistic in your pricing and accomplish your ultimate goal of selling your home. Know that 75% of real estate marketing is the price you set for your home. All of the marketing and advertising in the world will not sell an overpriced home.

Share This Post

Increase the Value of Your Home, Inexpensively

family in new house

Considering selling your home by next Spring? You will want to get the best price, of course, so start now by getting your home in tip-top shape. You don’t need to spend a lot of money and can do much on your own. Here are a few ideas and if you need guidance, calling the most experienced Realtor to visit and give you advice is always a good idea.

Deep Clean: Start with decluttering every room and closet. Donate, sell or throw away things you don’t use anymore. Vacuum, mop, & dust every surface, every vent, every blind and scrub the bathrooms. Get down on the floor and get your baseboards and lower cabinet doors wiped down. Wash the walls and make all your windows sparkle. Steam-clean all the carpets. These are all perfect cold, Winter day chores to tackle.

Paint: While you may love your brightly painted rooms, they make it harder to sell as the potential buyer usually can’t see beyond your taste. Use neutral colors and watch as minor flaws are hidden and the rooms are brightened. Simply paint the trim and see a new room appear! Just updating paint jobs, especially in the master bedroom the entry foyer, living room, and kitchen can increase the value of your home.

The Face of the Home: Rent a power washer if you don’t have one and transform the exterior of your home from “lived in” to “like new”. Use it on the siding, brick or wood, sidewalks, driveways, decks, porches, garage doors, any porch furniture that is left out and windows.

Landscaping: Depending on the time of year – if it’s right now, Fall, get the leaves up and off the ground. Rake out gardens and pick up sticks. Cut down any low hanging branches or twigs. Removed dead shrubs and make sure the property is well-edged.

Spruce Up Your Kitchen: No need to gut and rebuild. Add value by replacing cabinet hardware, the faucet in the sink, even appliances if they are dented or overused. Repaint walls and even cabinets.

The Bottom Line: There are so many ways to upgrade your home before you sell it and literally up the value by thousands. A simple change of light switch and outlet covers make a world of difference. So, if you are waiting until Spring to list your home, spend the dark Winter months knocking off a to-do list!

Share This Post