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Until about a year ago estate agents represented home sellers.  Whether they were the ‘listing agent’ or the agent who brought the buyer to the contract, both were legally bound to represent the seller’s interests.  This meant that if the agent working with the buyer knew that the buyer would be willing to pay more for the home or other points of negotiation, the agent was bound to disclose that information to the seller.

That has all changed; today homebuyers can hire a professional Buyer’s Agent or Property Finder, who will be representing only their interests.  This is known as a buyer’s agent.

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While your home is listed for sale, there may be occasions when you receive a call that a prospective buyer is coming to see your home.  Don’t let that overwhelming feeling of panic set in, follow these easy pick-up tips to get your house in show-time shape in minutes.

The Game Plan

- Assign responsibility for tidying up.  When you have a last minute showing, each person knows which room to straighten.

- Have a get-away planned.  Know where you will go when you have to vacate the house for a showing.  Consider a short walk, park, playground or to visit friends.  Run errands, do your grocery shopping or pick up the dry cleaning.

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Whether you are buying your first home, or your fifth, the process of buying a home is a detailed, time-consuming venture.  It is also an emotional period filled with difficult choices.  You want to ensure that the home you purchase meets your family’s needs now, as well as in the future.

The points listed here are designed to help you become a savvier buyer, by noting some of the pitfalls to avoid in the home-buying process.  Included are points such as deciding what you want before you begin shopping, taking your time to shop, selecting the right realtor and lender, and remaining objective while viewing potential homes.  Using this information will help you find your ideal home.

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Whether you’re selling or purchasing a home, you want to ensure that the home in question is in good condition.  ASHI (American Society of Home Inspectors) recently completed a survey and found the following to be the most common problems in homes today.

- Improper surface grading and drainage

Improper surface grading and drainage can be responsible for household disorders such as leaking and crawl spaces.  The grading and drainage problems can be fixed either by regrading the ground away from the house or replacing gutters and down spouts.

- Improper Electrical Wiring

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When evaluating a home, it is important to understand the difference between acceptable and unacceptable problems.  Cosmetic items like peeling paint, worn carpeting and unattractive wallpaper can easily be remedied and can be used as items to negotiate.  However, major problems are clearly “red flags”.  Items such as major foundation cracks, water damage, outdated electrical systems and inadequate plumbing would qualify as unacceptable items and could cost you dearly in the future.

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Setting the Price for Your Home

Several factors, including market conditions and interest rates, will determine how much you can get for your home. The idea is to get the maximum price and the best terms during the window of time when your home is being marketed. When selling a home, there’s the price owners would like to get, the value buyers would like to offer and a point of agreement which can result in a sale.

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Now that you have made the decision to buy, it is important to figure out what you can buy.

In the event you need a mortgage here are some things to consider.

Lenders will look at your current budget (income, assets, and debts), and how much you would like to down pay and calculate two ratios to determine how much they are willing to lend. The first ratio sets a limit on what they think you can spend on housing.  These numbers are all flexible depending on your down payment. Generally, the bigger your down payment, the less your monthly payment will be.
After all this is calculated, you can get pre-approved for a mortgage. This will tell you officially how much you can afford and what your monthly payments will be. Also, this tells the seller you can afford to buy their home. Often buyers can use their pre-approved status  during negotiations.
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Since January Ruling by the FSA that mortgage exit fees are not justified, most lender have agreed to pay these back. The catch is you may need all your paperwork to know exactly how much you were charged. However under the Data Protection Act, you are obliged to receive this information if you request it and the lender may charge you a maximum of £10.Mortgage exit fees charged by lenders are normally between £200 and £300 and they were supposed to cover only routine administrative work, such as handing over property deeds to homeowners or their solicitors and closing the mortgage account. These fees have been said to be excessive and exorbitant and lenders have fail to justify these A very useful place to begin is to visit this forum which has wide resources of claiming the fees.

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The Escalating London house prices are causing a ripple effect by driving up prices in the commuter belt within especially within an hour of the City.

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