Is there such a thing as proper etiquette when buying a home?

If you are in the market to purchase a home, there is some standard of behavior towards homesellers, other homebuyers, and Realtors that is just common sense, as in the "Do unto others, as you would have them do unto you" general rule. Sometimes, a homebuyer is unaware that a gesture, comment or action could be considered inappropriate, and may impact their purchase in a negative way.  I am not singling anyone out, and absolutely mean no harm  to anyone by suggesting that buyers do any of these things on purpose, or with malicious intent.

1. Sellers and/or agents cannot always accommodate an immediate appointment. In many instances, at least three phone calls, and three conversations must take place before an appointment is confirmed. If just one person is unavailable, it will delay a prompt appointment. Al of that is assuming the agent can go on a moment's notice- which is not always the case.

2.If you are working with an agent who is on vacation, or away for the weekend, do not call the listing agent to show you their listing. For that matter, do not call any other agent other than the one that is covering for your agent while they are away for any reason. It's disrespectful to your agent, and the other agent involved. Ask your Realtor who to call in he/she will be away for any amount of time.

3. If your friend is  Realtor, and they are "helping you out", do not call another agent because you don't want to bother your friend. Again- disrespectful to your friend as well as the other agent.

4.Do not ever go to a listed home unescorted by your agent, or walk someone's property without express permission to do so.

5. If you have signed a contract for an agent to represent you in your purchase, do not mislead another agent by telling them you haven't. This one could actually cost you money, so it's very important.

6. Wipe your feet before you walk into a home, remove your shoes if the seller has requested it, and ask if you can use the bathroom in the home if you need to.

7. Do not take photos of the interior of the home unless you get permission to do so first.

8. If you are previewing homes for an intended purchase next year, let your agent know. They may not show you as many properties, but they may have clients that need to purchase right away, and they will take precedent over you. It's only fair- if you were in  a rush, you would expect to take precedent over someone who was not, and you would be well within your rights to feel that way.

9. If you are a licensed agent yourself, and do not have access to the MLS, tell the agent.(and you should know better than to withhold that)

10. If your agent asks you for financial information, such as a prequalification letter, a pre-approval letter, or proof of funds (for cash buyers), please don't be offended. It's standard practice-the seller will need that information even if you offer 10% ABOVE asking price.

11. Don't stalk the house, for heaven's sake

12. It is against the law for agents to show you houses without  represention, or an acknowledgement from you that you don't want it. At the very minimum, an agreement for the particular property for a short time frame should not be too cumbersome. You do want to make sure that you and your agent will get along, and guess what? The agent is interviewing you as a potential client just as much as you are interviewing that agent as a potential representative.

13. There is no need to bad-mouth a house in front of the seller.

14.If another buyer is viewing the home when you arrive on time  for your scheduled appointment, it is proper to wait outside and give that buyer their space while they are previewing the home.

15. If you are going to be late for a scheduled appointment, whether it's meeting your agent at their office, or meeting your agent at the property, call or text your Realtor. Your agent may have a number of appointments scheduled that are on a time crunch. Some sellers have very specific times that buyers can see their home, and cannot accommodate an appointment if the buyer is even ten minutes late. Give your agent the opportunity to call those sellers and let them know. One of those houses could be the one that you want to buy, and you've gotten the seller mad at you because you came late. All of this is not to mention that it is rude to your agent to be late without a call telling them so.

16. There are generally accepted viewing times. Eight AM on a Sunday morning is not one of them- neither is 9 PM on any evening. Use discretion- we understand that your schedule may be tight, and agents and sellers alike will most always do everything to accommodate you, just be reasonable.

17. Do not call the homeowner directly to discuss anything, period.

18. If you drive up to a house, and absolutely hate the neighborhood, the street or the house itself, don't refuse to go in. Just make an effort to go through the house very quickly and leave. That seller has anticipated the appointment and would be very hurt if you couldn't even walk in the door.  Who knows, you may be surprised. NOTE: If the seller is not home, and you don't want to go in for whatever reason, your agent can handle that, and no need to go in to a house that you know you don't want if no one knows. (Expect your agent to make a call to the Listing agent telling them just that.)

19. Don't overstay your welcome at the house, or on the property. There is a reasonable amount of time to look at a home, and for some people it's only five minutes, for most- it's about twenty minutes, and for a few more, it's upwards of 45 minutes. All are okay- you should go at our own pace- nothing wrong with that. Just stay focused on the house that you are seeing, and don't talk about the other homes on your agenda, or Johnny's baseball game, or dinner tomorrow night at your favorite restaurant  while you are there.

20. Keep any positive or negative comments to yourself until you are in the car and out of earshot to the homeowner.

What is PMI, why is it necessary, and how is it calculated?

PMI is the acronym  for "Private Mortgage Insurance", and is sometimes also referred to as "Primary Mortgage Insurance". It is insurance required by a lender for your home loan when you do not have a  twenty percent downpayment, which is considered a conventional loan. Buyers with less than 20% downpayment who require an 80% or more LTV loan (loan to value ratio) are almost always required to purchase this insurance for the lenders protection against a possible default on your primary mortgage.
 
Lenders typically look at a loan with over 80%  LTV as a riskier investment and  will require a PMI payment from the borrower. It is a special insurance that lenders force higher risk borrowers to pay to protect the interests of a bank in case of default.

A benefit of PMI is that it with this type of insurance, it is possible for you to buy a home with as little as a 3 percent to 5 percent down payment, when otherwise it would not have been possible. This means that you can buy a home sooner without accumulating a larger down payment.

Use the handy chart to the left  to estimate what your monthly PMI payment will be  for your thirty year mortgage loan. Your mortgage broker or banker will give you the actual monthly payment, and this chart is meant to be used as a rough guide.

What Happens if You Change Your Mind After Placing an Offer on a House?

This is a most uncomfortable situation for everyone involved. An important thing to consider at this point,  is how you got to the place of making a bid, when now you are reconsidering that very offer. If you are still in the negotiating stages, and the seller hasn't signed an agreement, it will be a lot easier for everyone.

A couple of questions to ask yourself:

1. Did someone push you into making an offer when you weren't ready?
2. Are you having second thoughts  about the offer you made, or any of the terms or conditions?
3. Has something suddenly changed, (such as a job loss or other unfortunate  event)
4. How far along in the transaction are you? This will determine what you need to do next.

WHAT TO DO: If you felt pushed into making an offer, whether it's by your spouse, significant other, a friend, a child, the seller, the market, or heaven forbid- your agent, TELL YOUR AGENT NOW!  If you are having second thoughts about this particular home for any reason, the time  to voice your concern is NOW.  If the seller has accepted your offer in writing, it is time to call your attorney as well as your agent- do that NOW and forget about the rest of this article.

Yes, as I mentioned, this is an uncomfortable situation, but the best thing to do for all parties is to get it out in the open as soon as possible. I rarely come across a buyer client who changes their mind after placing an offer, but that comes with years of experience on my part, and being able to tell whether someone is truly ready to make the next step after viewing a home that they like. Your agent should ask appropriate questions so that you never get into this situation. I know I do, and that's why this type of thing very rarely happens when you hire me as your agent.

I don't push anyone into making any decisions, and if I ever get the feeling that my client is pushed by anyone into a decision that they are not quite ready to make, then I will kindly and gently do my best to handle the situation so as not to put anyone in any kind of uncomfortable position. Need a trustworthy advisor? Contact me

Antique or Historic Homes in Connecticut- Do you know what to look for?

If you are thinking about buying an antique home, there are a number of unique factors that should go into your decision. Remember, that one day you will be a seller of that antique home.

Connecticut  has many "antique" homes, which are also commonly called "historic homes", however the two terms are not truly interchangeable. An antique is classified as a home that is greater than one hundred years of age.  An historic home does not necessarily have to be 100 years or older. It could be that a special event took place at the home,  that it housed a famous resident at one time, or was built by a renowned architect. An example would be "FallingWater" which was designed and built by Frank Lloyd Wright. While not an antique, this home was built between 1936 and 1939 and certainly has much historical significance.

If you are interested in purchasing an historic home, there are certain things that make your purchase more unique than others, and having an experienced team of professionals on your side is crucial to making a good decision.

First, and very important! Is the home on the local, Statewide, or National Register of Historic Places? Depending on what your intentions are  for the home, it could be a good thing, or a bad thing. A home on any of these "Registers", will have a continued appeal to a certain number of buyers, however  you must make sure and do your due diligence- If the home is listed in any of these places, there will aso be certain guidelines as to what you can change  or remodel in the house. There may even be a color restriction on the exterior, for historic preservation purposes.

Historical integrity, even if not listed in any registers, can be a concern for many buyers who are interested in this type of property. For example, your upgrades should  pay special attention to period details, and for example, a whirlpool in the bath or steam shower with glass enclosure doors would be inappropriate because these features are not indicative of the time that the home was built,  Sure, it's your home, and you can do what you want to with it, just remember that you have a limited buyer pool for resale, and you would limit it even further.

Major components of the home including heating, plumbing, electrical and air conditioning- When the  home was built, there were no building codes, so you may need to upgrade  or revamp the electrical, which may have already  been done once, but in need of updating again. Take special care to  look at the number of electrical outlets in the home, and if there are not enough outlets, woud it be reasonable and feasible to add more.(Speak with a licensed electrican on this) There could be galvanized plumbing and cast iron pipes, and it may be time to consider replacement (Speak with a licensed plumber)

Some  fun things to look for when purchasing an antique home:

Chestnut wood- American Chestnut, although once plentiful and used primarily  in the upper end antique homes. A severe blight nearly made this species extinct, and even now, the Chestnut that you see is usually imported from Europe. (Yes, you'll pay dearly for it)

The Front Door- Depending on the age and location of the home, if you are lucky  enough to find a home with its original front door, look for the amount of nails. The amount of nails in the door was to denote the wealth and rank of the occupant. .. and while we are on the subject of nails, rose-head nails  in the home is of value to its historical  integrity as well.

One last thing to add of a general nature is knowing the homes specific history. I really appreciate antique homes, (as if you couldn't tell)  Whenever I list a historic home, I contact the Historical Society and get  as much history on that home as I can for the incoming buyers as well as the outgoing sellers, if they do not have a complete history on the property. Finding out who built the home, who lived there, what they did,  and when certain improvements were made is all part of the charm of an antique  and historic home.

So if you are thinking of buying  or selling an antique home, you will need your experienced professional team to assist you, and you can start with me as your real estate agent :) 

The age old dilemma- do you put your home on the market before you find another house?

So you've decided that you would like to move. Great! What happens next? Do you go out looking at houses to see if you like anything enough to sell your home? Do you put your home on the market, wait until you get your deposit, and then start to look? Ask different people and you'll get a different answer.  So how do you know what to do?

There are a few things to consider in order to come to the best decision.

The market's health
Your own expectations

Market Health: In a slow  to average sellers market,  it's certainly okay, and probably a good idea to preview just a few houses in the town and price range that fits your parameters, but don't overdo it, and DO NOT look for that perfect house first.  A buyer who is ready  to buy will probably purchase that home before you have the ability, if you need to sell your current home first before you can qualify for a loan on the new house. You cannot compete with a buyer that's ready to go, when you are not. It's time to get serious when you get the initial deposit on your home. Remember, don't back yourself into a corner with a 30 day closing . Your agent (that would  be me- will guide you every step of the way)

If it's a sellers market, it's pretty much a simultaneous operation and requires that you be available to see homes whenever your agent calls you with the hottest properties. In this case, I would suggest that you also preview a few homes before you list yours for sale, and have your agent search every day for your next home  during the time that your home is on the market. If you get a buyer before you have found your next house, you can always extend the closing date to give you some breathing room.

Your expectations- and this is true for any market. If you go out and preview homes and nothing even remotely seems appropriate, then you have to do some soul searching on a few items-

1. Is your agent doing everything he/she can to showi you properties that fit your needs?
2.. Do you have unrealistic expectations?
3. Can you afford to move up to the type of home that you desire?
4.. Are you ready to make a move?

I will help you to make appropriate decisions regarding your move. None of my clients hav eever been without a home during my 26+ years being a Realtor, and I have helped hundreds of clients.I am NOT about to break my record on you! Contact me today and I will be your advocate.

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