The Paperless Real Estate Transaction is Possible!
In my constant quest to be eco-friendly both personally and professionally, I’ve been implementing a few environmentally friendly business practices.
Currently, I’m in the process of reducing the number of direct marketing pieces to a quarterly schedule, instead staying in touch monthly with friends and clients via electronic newsletters.
I’ve also successfully been working with electronic systems since 2007, creating a paperless transaction for clients who are buying or selling real estate. The response has been overwhelmingly positive from clients who appreciate being able to review documents online as well as securely sign the dozens of disclosures and reports electronically through Docusign.
Gone are the days of having to kill a forest to buy or sell a home. It is technology which hopefully more of the real estate industry will embrace, especially considering that a typical transaction consumes 250-300 sheets of paper and can top 600 sheets with condo transactions. Additionally, the quality of electronic files is far superior to hard copies which lose print detail with each printing and faxing.
Clients, at their leisure, can go online to review & sign reports and disclosures after we’ve reviewed them together. With their busy schedules of juggling work & family, they appreciate the convenience & efficiency of an electronic system. Clients receive all their transaction paperwork on a CD rather than a hard copy; a format which is more convenient to store rather then a two to three inch paper file as well as it being easier to locate specific documents on disk. Clients also appreciate being able to contribute to being eco-friendly.
Title companies and lenders are also slowly moving towards the paperless transaction.
At the conclusion of a transaction, I also purchase carbon credits to further offset my carbon footprint.
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What is the market like in the San Bruno Area?
There is not one particular market within San Bruno. There are several difference neighborhoods that each have their own unique feel and different market conditions. Depending on if you’re looking to buy for your own use, investment, or fix and flip– there’s a neighborhood in San Bruno that will have what you’re looking for.
There are many thriving “move-up” neighborhoods that have a very nice micro-climate and attract many buyers. These listings tend to experiencing multiple offers, and a lot of interest. Acting fast in these neighborhoods is essential if you’re competing for a home and having your paperwork, including loan pre-approval in place will help you look even more attractive to the sellers.
Then, as there is everywhere nowadays, there are the neighborhoods that are saturated with short sales and foreclosures. These neighborhoods have a lot of charm and are excellent opportunities for investors and first time buyers. If you’re looking for a great deal in a great area, these are the neighborhoods to check out.
For more information contact me at stephan@stephanmarshall.com or 650.455.1528. I’m a San Bruno native and can give you the information you need about the area and show you around.
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What is the difference between an independent advisor and a brokerage house advisor?
An independent Financial Advisor has the opportunity to go out in the marketplace and find the very best products and services for their clients. This is different than advisors who work with a large firm.
Many times a brokerage firm has their own line of investments or insurance products that they offer. One of the large revenue generators of these firms is often the funds or insurance programs themselves and at times they may encourage their advisors to sell those products through incentives.
An independent Financial Advisor can truly find the best programs as they most often have no proprietary products which they are encouraged to sell and because they care about your success, rather than receiving incentives, they will truly find the best products and services for you.
Troy is a financial advisor offering securities through First Allied Securities, Inc. A Registered Broker/Dealer member of FINRA/SIPC For any questions or information on Financial Planning you can contact troy at tcollins@mkfinancial.com or by phone at 650-551-8900.
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How does home staging work? Why is it worth the money?
Home staging is all about the best marketing of your home. Once you’ve decided to place your home on the market the next step is to make your home look as appealing as possible to potential buyers to get as much foot traffic to your listing as you can. The more people that view your home, the more potential buyers!
A home staging professional’s goal is to sell your home for the best possible price. We aim to extract the most equity possible out of a seller’s home, and to do this it needs to not only have what the buyer wants, but look immediately appealing to the buyer’s sense of style. This is increasingly important as more and more buyers view things online before going in person to the home.
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Actually, 92% of potential buyers preview homes on the internet before going to see them. Having a professionally staged and photographed home are critical to driving traffic to your home. It makes it more appealing to buyers on its first impression and makes it more likely they will take the time to see the property in person.
At Décor Staging our designs are geared toward the overall style and flow of a home, the architectural features, the potential buyer’s age and income, the first impression and photographic appeal and the use of color as a psychological component.
Having been in the home staging market for many years I can personally attest and give examples of how staging a listing can increase market value and return on investment. Contact me at kerry@decorstaging.com or 650-619-9052 and I can share more information with you!
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Who Pays What — A Guide to Closing Costs
A lot of people find the cost of selling or buying a home confusing. Â It is in a lot of ways since a lot of what you can pay as a buyer or seller is contract related. Â Below is a list of things as a seller and a buyer that you may be expected to pay for. Â Take these to your agents and make sure you understand what your part of the transaction is going to be paying for!
The SELLER can generally be expected to pay for:
- Real Estate Commission
- Document preparation fee for Deed
- Document transfer tax ($1.10 per $1,000.00 of sales price)
- Any City Transfer/Conveyance Tax (according to contract)
- Any loan fees required by buyer’s lender
- Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)
- Interest accrued to lender being paid off, Statement Fees, Re-conveyance Fees and any Prepayment Penalties
- Termite Inspection (according to contract)
- Termite Work (according to contract)
- Home Warranty (according to contract)
- Any judgments, tax liens, etc. against the seller
- Recording charges to clear all documents of record against seller
- Tax pro-ration (for any taxes unpaid at time of transfer of title)
- Any unpaid Homeowner’s dues
- Any bonds or assessments (according to contract)
- Any and all delinquent taxes
- Notary Fees
The BUYER can generally be expected to pay for:
- Title insurance premiums
- Escrow Fee
- Document preparation (if applicable)
- Notary Fees
- Recording charges for all documents in buyer’s names
- Termite Inspection (according to contract)
- Tax pro-ration (from date of acquisition)
- Homeowner’s transfer fee
- All new loan charges (except those required by lender for seller to pay)
- Interest on new loan from date of funding to 30 days prior to first payment date
- Assumption/Change of Records fees for takeover of existing loan
- Beneficiary Statement Fee for assumption of existing loan
- Inspection Fees (roofing, property inspection, geological, etc.)
- Home Warranty (according to contract)
- City Transfer/Conveyance Tax (according to contract)
- Fire Insurance Premium for first year
It’s important to know what to look for when you’re on either side of the transaction!
This information is provided by North American Title Company. Check out www.nat.com for more.
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What types of investments are the most solid and how does my Financial Advisor help me find them?
Investing is not a one size fits all endeavor. If anyone can answer the first part of this question without doing a serious and comprehensive financial plan then they are an investment broker, not a financial advisor. Essentially, just as a doctor cannot prescribe the correct treatment without testing and analysis, a Financial Advisor needs the full picture before they start to offer advice and ‘treatment’ for your financial portfolio.
As a Financial Planner– as it comes to investments–I believe you first need to determine the time frame for which you are investing. There are investments such as CDs that can protect principle up to guideline amounts, however, they may not keep pace with inflation and after taxes could yield a negative net return. Thus it is important to determine the length of time you have to invest as well as your NEED to determine what return to strive for and consider the risk of each alternative versus the need for higher returns.
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