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The Six Phases of Buying a Home

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Six Phases of Buying a Home

First off, congratulations on entering the the second phase of buying a house. That’s right, the SECOND phase; Whether you realize it or not if you’re reading this article you’ve likely mulled it over at some level, even if only deep within your subconscious. Maybe you’re a savvy, investment-minded individual thinking about the future; perhaps you’re simply experiencing a severe case of FOMO as you hear about all your friends buying houses; or maybe you’ve simply outgrown your current place; for whatever reason, at this point you’re solidly planted in phase #2.

#1- A Lingering Thought

Let’s back up for a moment and discuss phase # 1. In this phase, the idea of purchasing a home isn’t a fully-formed plan, and is very likely simply a passing thought, or idea. Butthat’s excellent! The greatest feats of mankind each started as a simple idea. 

During this period you’ve likely found yourself coming back to the idea of buying a home, over and over. It wasn’t a serious, time-consuming consideration, but a pesky recurring thought that wouldn’t go away. As a result, you began noticing the things you admire about your friend’s homes, or you found yourself holding a lingering glance at the beautiful home down the street, or just maybe, the “For Sale” and “Open House” signs on the corner suddenly caught your attention. You spent some time ignoring it, then you gamed it out in your mind as a potential scenario, now you’re truly considering it, and here you are reading a piece titled “The Six Phases of Purchasing a Home” Welcome to phase #2.

#2- Exploring the Idea of Buying a Home

Now that you’ve given in to that still small voice in the back of your mind, you’re in a preliminary exploratory phase. You’ve probably already done a home search or two, huh? Thought so. During this phase potential buyers begin researching the process of buying a home in earnest; They’re considering their finances and purchasing power, glancing at the inventory, and likely searching online about what to expect (again, here you are!), as well as asking close friends about their experiences and recommendations. 

While no serious commitment to actually buying a home has been made yet, with each passing day it begins to feel more and more like a real possibility. As you do your homework, it becomes obvious that it makes much more economic sense to purchase your own home to build personal wealth, than to continue contributing to that of your landlord’s

Now you’ve decided; It’s time. 

This conveniently brings us to phase #3: Committing to buying a home. 

#3- Committing to Buying a Home

This period is an extension of #2, and a pre-cursor to #3, in that it incorporates the activities of both. At this point purchasers have been doing some preliminary groundwork, but now that they’ve officially set out on the adventure of becoming a homeowner, everything steps up a notch. What were innocent casual searches before are now auto-emails with pre-defined filtered criteria, only returning properties that are perfect matches for their dream home… or something they’ve landed on which they can both afford and find joy in. 

This is a crucial step because this is where buyers assemble their real estate teams (cue dramatic inspirational music and a cast of superheroes appearing!). Ok, maybe not quite so cinematically divine, but still an exciting and highly consequential decision. A real estate team’s makeup will vary slightly depending upon the individual buyer’s circumstances, but most are made up of three key players: The buyer, their realtor, and their lender. 

The buyer has the vision and calls the shots, the realtor knows the housing market and current inventory, and handles negotiations, and the lender helps the buyer better understand the specifics of the finances, issues a pre-approval (required to submit an offer in most cases), and processes the loan. 

Choosing a real estate team is an integral step in the process, and buyers should choose professionals who are experienced and bring a great deal of value to the table, but who also help the buyer feel at ease and educated about the process; They serve as both advocates and educators.

#4- Actively Pursuing a Home to Buy

Now that a solid team is formed, the buyer is well on their way to purchasing a home. Here the buyer enters phase #4. During this time the buyer and their agent are actively monitoring the housing inventory. In step #3 the agent likely set up an auto-search, so both the agent and the buyer are pinged when a new listing that matches the search criteria goes active. Now, the buyer is also attending open houses on the weekends and visiting the strongest contenders with their agents. At this stage, the buyer is ready to take action when the right home hits the market. The real estate team is on high alert.

And then it happens; The perfect home has been identified, and it’s “the one”. Buyer and agent discuss the specifics of an offer, the offer is written and submitted (along with the pre-approval letter from the lender), and then the buyer hears those magic words they’ve been anxiously awaiting: “Your offer has been accepted!”

#5- Contract Process

Woo hoo! Now phase #5 commences: the contract phase. The length of this phase is determined by the settlement date included in the offer; It may be a very quick turn-around of 14 day, or a pretty lengthy period of 60 days. During this time the contract’s contingencies are worked through (items such as the home inspection, appraisal, reviewing documents if located within a homeowner’s or condo association, etc.). This is when the buyer, with the aid of their agent, performs their due diligence and gathers all the relevant information on the property. During this same period, the buyer’s lender is processing their loan documents, and eventually sends them to underwriting for final loan approval. 

#6- Closing Day!

And finally, once all the action items of the contract period are satisfied, the magical day arrives, the day considered by many to be one of the most important days of their lives; It’s closing day! This is the sixth and FINAL step of the home buying process. Closing day (also called settlement day) is when the buyer finally takes possession of the keys to their new house. Settlement itself is a relatively simple affair, merely requiring a lot of initials, dates, and signatures. 

For some, this process takes months, and sometimes even years, and for others it can be a blazing fast affair of only a few weeks. For most, it seems far more daunting than it actually is. So, if you’re an early-stage #1-er, or you’ve found yourself progressing into phase #2 land, don’t hesitate to start considering the makeup of your real estate team; They’ll help ground you and focus you on the objectives ahead. 

Start with your friends who have purchased before and ask what they loved or didn’t love about their realtors. Maybe they have a strong suggestion, or perhaps they didn’t have a great experience and they’ll share why. Either way, you’ll get valuable insight about what to expect along the path to homeownership.

Happy house-hunting!

-Joshua Baumgardner
VA & DC Licensed Realtor
TTR Sotheby’s International Realty
www.LiveTheDMV.com/blog

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WHAT ARE THE STANDARD SIZES OF EURO PALLETS?

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Wooden Shipping Pallet

Amazingly, Wooden Shipping Pallet were used to transport goods back in ancient Egypt and Mesopotamia. The first patent, in Western history, was filed in 1924.

They seem like they have been around forever but they did not become popular until the 1960s. In 1961, standard Euro pallets were established.

Euro Pallets in Standard Sizes

Different industries made pallets in different ways, so there are many “standard” sizes.

Today, the two most popular are the American Grocers Manufacturing Association pallet of 40″x48″, (1016x1219mm), and the European 800x1200mm EUR 1

The UK’s metric equivalent to the American pallet (1000x1200mm), was finally designated the EUR 2.

These sizes have some logic. These Euro pallets are designed to fit in trains and through doors (the average door is 850x2000mm).

America and the UK trade by sea historically. Therefore, their standard pallets stack into ISO shipping containers with the most space. This is about 3 to 5% compared to 15% using EUR 1.

A EUR 3 standard is also recognized by ISO and ECU authorities. It is the same size as EUR 2, but it is built in the opposite direction with width and length reversed. The EUR 3 has a greater load-bearing capability (1920 kg rather than 1470kg).

The EUR 6 is half of the EUR 1 (800×600) and there is also a 600×400 quarter palette.

Although there are plans to introduce shipping containers that match the EUR-pallet to some extent, many sizes will still be available for a while.

Pallet Pools

Pallet pooling companies were created to overcome logistical delays and standardization problems.

You can also use them to improve quality control, grading, and recycling, as well as repairs and pest control.

Pallets that comply with European standards are eligible for the European Pallet Pool (EPP), which organizes a pallet exchange system.

This is a great tool for shipping companies, and it helps to comply with the UK Waste Framework Directive that promotes the reuse of packaging and recycling.

Quality Marks for EUR-Pallet

The EPAL logo should be located in the lower-left corner. A code is located on the center leg. It indicates the manufacturer as well as the verifier. A special nail could be used to indicate an approved repair.

Other numbers indicate the year of production and the type of wood. In the right corner are EPAL or EUR logos. Pooling companies may add grading marks.

The International Standard for Phytosanitary Measures requires pallets shipped internationally to be treated to prevent invasive diseases and species like the Asian longhorn beetle and Pinewood nematode (ISPM 15).

The International Plant Protection Convention logo (IPPC) designates heat-treated timber with an “HT”. Pallets that were fumigated using methyl bromide were labeled “MB”, but it is now prohibited.

Construction

Pallets can be made from different materials (hardwoods or softwoods), and have different constructions. A skid is a pallet that does not have deck boards. A stillage is one that has sides.

It is determined by the construction whether or not they are able to accept forklifts and pallet-jacks from either two or four sides. For example, four-way block pallets have flat stringer boards that are block-supported and replace the upright edge stringers. This leaves room for forks below.

Pallets are also often molded from recycled plastic. These are weather-resistant, rot-proof, durable, easy to clean, lightweight, and fire-retardant, but wood is cheaper and remains the standard material for Euro Pallets.

Contact Wooden Pallet Johor Bahru now for more Euro Pallet inquiries.

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5 Facts to Consider Before Buying a Flat in Bangalore

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Once you get familiar with Bangalore, you’ll never want to leave the city. The city is adored for its comfortable weather, urbanization, and alluring natural beauty. Moreover, the city is always wrapped up by youthful and positive energy. 

In this Silicon Valley of India, far away from their homes, countless young professionals reside and weave the dream of a prosperous career. This IT capital of India is one of the top cities to live in this present era.

Due to its richness in trade, commerce, and IT sector, the real estate sector is also getting immensely successful. Somehow it poses a great challenge to the home buyers who want to settle in the city. 

Options are many, and choosing the suitable one among them is not an easy task. People looking for apartments in Bangalore should take a few important facts into account before signing the final contract. Check out the following facts while buying flats in this city.

  1. Budget

Before you start your search for an apartment, you must have a clear idea of your financial ability. Setting a budget before seeking a home is better than searching for flats without mapping out a budget. 

Only your time would be wasted as you would be spending time visiting the apartments you can’t afford. Consider your monthly expenses, the amount you can save every month, and then set out a budget accordingly. Always look for a safe budget; you don’t need a flat that drains out all your savings by paying hefty EMIs every month.

  1. Location

Along with its good sides, Bangalore is also known for its traffic. You may need to spend 1-2 hours traveling not more than 10 km. If you don’t want to get stuck in traffic for long hours, you should choose a location near your workplace. 

The area should be nearer to your office, have excellent connectivity and infrastructure. If you have kids in your family, the area should have well-known schools and parks as well. 

Also, don’t opt for a location that doesn’t have nearby healthcare centers. To develop a clear insight into different parts of the city, find out four main areas:

  • Central Bangalore- Benson town, Frazer town, Magadi town, etc.
  • North Bangalore- Yelahanka, Devanahalli, Horamavu, etc.
  • East Bangalore- Whitefield, Hoskote, Varthur, etc.
  • West Bangalore- Chamarajpet, Rajaji Nagar, Nagarbhavi, etc.
  1. Document checklist

This is another vital fact that you must consider while buying a flat. You should ensure that the builders or the sellers are maintaining transparency when it comes to legal documents. You should scrutinize each document before finalizing the deal.

  1. Construction 

A home is a place where you will spend your whole life with your family. Therefore, it must be safe for you. You need to check every detail about the construction to ensure that your family will be safe in your new home.

  1. Water inspection

Water is something without which you would not be able to live a single day. On the other hand, even a small leakage or a poor drainage system can drag you into threatening situations. That’s why water inspection is mandatory for you before buying apartments in Bangalore.

Bottom line

Bangalore is the hub of a thriving art and an ideal incarnation of multiculturalism. If you are bowled by its charisma, don’t hesitate to settle here with your family. 

Living in such a city will enrich you both financially and mentally. So what are you waiting for? Start your search for an affordable and convenient flat in the city now!

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Top 5 Ways to Improve Home Safety

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Is your home safe for the kids and everyone? Surprisingly, more than 30 million American homes have life-threatening health and safety hazards such as gas leaks, lead, or poor heating. Nearly six million of these homes have structural such as damaged plumbing.

Fortunately, you can address these problems to improve home safety. Remember, nowhere feels safer and more inviting than home. You want to create a perfect living environment and enhance the general well-being of everyone, including pets.

So, what entails home risk prevention? Which home safety tips should you apply to create a conducive living environment? Here is your home safety checklist.

1. Prevent Falls to Improve Home Safety

Falls can cause severe injuries or even deaths. The CDC notes that at least one out of five American adults falls annually. In most cases, this results in serious injuries to the head and sometimes broken bones.

You can prevent falls by stabilizing your staircases with handrails. Also, ensure proper lighting around the stairs and remove any tripping hazards. On top of that, clear your outdoor steps of debris such as ice and snow to prevent slipping.

2. Are You Ready for Fires?

Besides posing a serious life threat, accidental fires can cause devastating property and valuable losses. These fires can emanate from candles, unattended iron, or even faulty electrical wires. Fortunately, there is much you can do to enhance home fire safety.

First, you would want to install automatic fire alarms on all your house levels. Further, fit fire extinguishers in high-risk areas such as the kitchen, fireplace, and basement garage. A smart smoke detector will also help.

3. What Causes Poisoning?

Poisoning hazards such as cleaning agents and self-care products pose a great danger to kids and pets. Ensuring the perfect storage of these items should be at the top of your home safety checklist, especially when leaving for work. This will reduce the chances of accidental poisoning.

First, you would want to store OTC and prescription drugs safely and dispose of any unused medication. The same applies to beauty products such as makeup, body creams & lotions, soaps, and hair products. Also, keep paints and pesticides out of children’s reach.

4. Reduce Choking Hazards

Choking hazards can lead to accidental deaths, especially among young children. In that case, you need to keep hard foods away from children’s reach. If you’re feeding them, ensure you chop large foods into smaller pieces.

You would also want to supervise your baby at all times. Most importantly, keep all the playing items in a toy basket after use.

5. Prevent Cuts

Cut hazards look like a no-brainer. Unfortunately, objects with sharp edges around your property can pose risks to younger children and pets. These objects can be anywhere in your home, including the garage, kitchen, trash bin, or bathroom.

A good home risk prevention for cuts is using lockable trash bins. This can stop kids and pets from finding sharp cans and leads. In the kitchen, keep all sharp utensils such as knives, forks, graters, and peelers in a cupboard or a wall-hang cabinet.

Keep Your Family Safe

Nothing satisfies more than a healthy, happy family. As the head of the family, it’s your duty to improve home safety and guarantee the well-being of everyone. These tips will help you take precautions against safety and health hazards, making your job easier.

Check other articles on this site for more information on home risk prevention.

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Taking Out the Trash: A Complete Guide to Junk Removal

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Did you know that, if you’re like the average American, you throw away 1,600 pounds of junk every year? 

That’s 4.4 pounds of junk accumulating around your house every day. When it’s time to move or do a property cleanout, that can feel like an overwhelming amount of trash. Don’t worry, though: you can get the pros to help you out.

When it’s time to clean out your property, professional junk removal can be a lifesaver. If you’re struggling with an overwhelming amount of trash, read on — we’ll explain what commercial junk removal is and how it can help. 

Junk Removal Can Take Anything

You might hesitate about calling junk removal services because you think that they can’t handle the junk you have. However, many junk removal services pride themselves on being able to take virtually any type of trash. 

You might need to get rid of an oversized item or one with a shape so weird that you think it can never fit into a truck. From electrical waste to garden clippings, chances are that a professional junk remover will be able to take it. As our friends at Stress Free Junk Hauling say, “We take almost anything!”

Getting a Quote Is Easy

The first question on many homeowner’s minds: “How much will my junk removal cost?” Thankfully, getting a quote on junk removal is easy. 

Most junk removal services offer quick quote services. Just call and describe your junk removal needs — or, even better, just text them a picture of the items you need to get rid of!

The junk removal team will be able to give you a quote right away based on your description or photo, making the pricing process quick and easy for you.

Residential and Commercial Services

Yes, Americans generate almost twice as much waste as the average global citizen. That means we accumulate a lot of junk in our houses. 

However, junk doesn’t just pile up at your home. Your office or work might need major junk removal as well. 

If you’re one of the many businesses that are retooling after COVID-19, you’ll find yourself renovating your storefront. You’ll probably also get rid of physical infrastructure to lean into your online presence. Either way, you’ll have junk to clean up.

Junk removal services are just as comfortable serving commercial locations as residential ones. They can take away your renovation waste as well as the old office chairs that no one wants to sit in anymore. 

Getting the Junk Removal You Need

Trash can be a big problem. Even if your trash problem is big enough to fill a dumpster, there’s junk removal help for you. 

When it’s time for you to downsize your house, clean out for a move, or just declutter your commercial space, you can turn to professional junk removal to get your space clean again.

Looking for more tips to help your move? Check out the rest of our articles. You’ll find more recommendations for lifestyle, home ownership, and more!

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How To Sell Your House Fast?

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sell your house

Looking for a fast way to sell your home? Commonly, selling a home is a tough job. It can often take months, even years. So what if you have to unload your house within two or three weeks? Fortunately, these can happen!

A relocation of your job, taking care of your family, or simply being unable to handle too much expenditure for even just one or two months might make it necessary to unload your house as soon as possible.  If you face any trouble in selling, you can contact the experts at Hawkeye – Sacramento for help.

This article conveys to you different approaches the home seller might apply to sell the property as fast as possible with a maximum expense.

1. Fix a Hard Deadline

Give them a deadline to work with if you want to get buyers to show their interest. Set a timeline of one or two weeks after your home will be listed for sale, where you make sure in your listing that no offers will be accepted after a given period. Don’t show your circumstances to the buyers, or else they will smell your desperation and take advantage of that. Put a deadline on the table without explanation and watch the offers pour in.

2. Sell House with A Flipper

The only way to sell a house faster is by flippers. You can usually sell the house to these buyers for cash, removing the hassle of expensive repairs. Owners who need to get rid of their property as quickly as possible can find themselves in these kinds of situations.

Flippers may demand below market price so that they can resell it with extra profit. Be aware so that your flipper can not flee you up to wazoo. Last but not least, compare offers from two or more investors so that you can get the best deal.

3. Beware of Guaranteed Sales Programs

Do not fall for the guarantee sales programs. If you see any agreement that says if the broker can not find a buyer for the home in 30 days, they will buy it, run away from them. It is a scam to own your trust and then buy properties at the lowest possible price. The real estate agents promise to list your home for a fixed period; if it’s not done, they will buy it directly from the seller. So be aware of these kinds of programs.

4. Sell To a Developer

Even though it may sound drastic, if your goal is to sell simply and fast, this is the best approach. The developers would purchase your home based on its land value, tear down the residence and construct a new development. The benefit for the sellers is that they do not have to worry about the home’s condition as it will be torn down.

5. Consult With Your Neighbours

Before you list your home on the market, consult with your neighbours. Most of the time, people want to live near their relatives or are looking to buy a property near their neighbourhood. Selling your home to your neighbour will speed up the entire process and also save your marketing advertising fees, and in some states attorney fees too.

Conclusion

Selling your home can be a hectic job. But by following some strategies, you can save time and money. Ensure to conduct a thorough investigation of the buyers before you sell and to scrutinize the purchase agreement or hire services of home experts like Hawkeye – Sacramento so that you don’t have any future problems.

Author’s Bio

Shrey Jain is the Co-Founder of Writofy & a Chartered Accountant who works with a team of creative content writers. He holds a forte in creating informative content on niches like crypto, business, fintech, digital marketing, and several others. In addition, his willingness to learn and share his knowledge can immensely help readers get valuable insights on varied topics.

Also Read: The Best Roofing Materials for a Long-Lasting House

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