Piedmont, California (EastBayDaily) — As the local choice for Oakland, Alameda and Piedmont real estate, Bruce Wagg of Highland Partners is now featuring tips concerning costs that may be incurred while selling or buying a home, as well as how to set a realistic home price.
"As a buyer and a seller, it is important to be aware of other, unexpected costs that will occur as you move toward finalizing the purchase of a home," Wagg said. "Money should be set aside to cover whatever may develop. While not all of these things will apply to your situation, you should be aware of them as possibilities."
Such costs may include the following:
1) Professional home inspection fees. It is a wise to pay for and have the home thoroughly inspected before making the final purchase. Costs vary among areas but are usually under $1,000.
2) Appraisal fee. The buyer will most likely be required to pay this fee for the loan.
3) Additional closing costs. Although the buyer will be given a good faith estimate of closing costs, these are projected costs, so do not count on them being the final numbers.
4) Move-in costs. The buyer should make a list of the most essential things that must be done to make the home ready. These could include fees for upgrading plumbing, installing kitchen counter tops, structural strengthening, painting, etc.
5) Large appliance purchases. It makes more sense to install them before moving in, especially if the buyer is already completing renovations.
6) Little things. These are truly unexpected expenses, such as new lamps, mirrors, hardware for a garage door, pulls for the kitchen, etc.
"While this seems like a lot, once you take the time to develop a plan, the cost to move will seem much more pleasant and efficient with few surprises," Wagg said.
For sellers, the most important step in selling a home is having it priced correctly from the start, which is why Wagg is also offering tips on choosing a realistic home price.
1) Do the homework first. With a wealth of websites devoted to real estate properties and homes for sale, it is impossible not to locate information about what homes in the market area are selling for. The home seller must take this information seriously. It indicates exactly the kind of situation the seller is in at that point in time and how similar homes are priced. For a listing of prices on homes for sale in Oakland, CA, Piedmont and Alameda areas, please visit http://www.brucewagg.com.
2) Check and compare. The owner must make a complete and realistic list of a home's assets and liabilities. The buyer's loan appraisers are going to do this as well, and they will be even more highly analytical. Find houses that truly match the home and review them to see what price fits the results.
3) Look at the hard facts. Are the trends going up or down? If they are going down, would it make sense to sell and leave promptly before taking an additional loss? Consider how long comparably priced houses have been on the market.
4) Get a Comparative Market Analysis (CMA). This is where Wagg can assist the seller. He will research and prepare a complete package of information on what homes are being sold for in the neighborhood. The seller will be able to see the trends, the highs and the lows of the current market.
"When you have reviewed and considered all of the flow of valuable information, we can then make an intelligent decision as to the proper pricing of your home," Wagg said.
For more information about Bruce Wagg of Highland Partners, call 510-517-6280 or view him on the Web at w http://www.brucewagg.com.
About Bruce Wagg of Highland Partners
Bruce Wagg of Highland Partners offers professional real estate services in the East Bay, including Piedmont real estate, Oakland real estate and Alameda real estate services. As a resident of Oakland, Wagg specializes in homes for sale in Oakland; has an extensive knowledge of the schools, transportation and shopping; and can answer questions about other determining factors that help people decide to buy a home. He has closely studied the ever-changing market conditions in real estate and knows property values well. His knowledge as a Piedmont real estate agent (as well as in Oakland and Alameda) allows him to provide the best customer service, understand a client's needs and always maintain clear communication.
What sets Bruce Wagg apart from other agents is that he also acts as a project manager for his clients. He has the expertise and abilities to manage the entire real estate process, and he continually discusses details with each client, so that each feels prepared to make these large financial decisions.