Beware of the Deal!

Beware of the Deal!

  This time of year, retailers are vying for your attention. They all want to lure you in with the hopes of some great deal that will go away if you don’t act fast. Sometimes buying real estate is the same way. Sellers, and agents alike, will lure you in with fancy photographs, shiny cosmetic updates and paid closing costs if you buy before the end of the month. What happens when you get to the property? I have seen three scenarios play out. The agent and Buyer arrive at the property and double check the photos on their printed sheet to make sure they are at the right house. The pictures really fooled them. They don’t recall seeing the power lines in the front yard and the rooms are a lot smaller than they appeared in the photos. The new kitchen looks nice but they discover you can’t fit a full-size dinner plate in the cabinets. The Buyer realizes the great deal they thought they were going to get really isn’t a deal after all and they choose to keep looking.   The agent and Buyer arrive at the property and see the same things as the first scenario but they are still starry-eyed. They really need a house and this is such a great deal! They write up an offer that’s even lower than the “deal” of a list price, and to their surprise, the Sellers accept. Now they are really excited. They schedule the home inspection and, to their dismay, they are told that the new flooring is covering up the water damage on the subfloor and that there is mold growing throughout the main level. The roof that the Seller claimed was 4 years old was installed improperly and needs a complete overhaul and the HVAC isn’t even functioning. They come to grips with the fact that they have been had and the deal isn’t looking so good now. They terminate the contract, but not before spending precious time and money on a pig with lipstick.   The last scenario is the worst that I’ve seen. Unfortunately, some Buyers have blinders on and don’t want to listen to the advice of their agent or inspectors. They think everything will be fine because it’s such a great deal. So, they ask the Seller to fix the major items the inspector found and the Seller agrees. Everyone is happy and they go to closing with big smiles. About a year later, after the home warranty has expired and not been renewed, the new owner is in distress. They hate their house and they want to move. The repairs that the previous owner did were just temporary fixes that have...

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Thanksgiving

Thanksgiving

      Thanksgiving. It’s a time of year when so many families gather together, eat turkey and mashed potatoes (poor turkeys…) and somebody falls asleep on the couch. Do we really take the time, though, to be thankful? Do we take the time to give? Reflecting on the time of year and speaking with so many in different walks of life, I was reminded how fortunate and blessed I am. One single friend has lost both parents and has no siblings. The holidays are hard for her. Another friend is going through a divorce and doesn’t know if he will get to see his child at Thanksgiving. Some are struggling financially and others just don’t have any hope. I have a friend who is always giving. You know the kind, adopted two children – one with special needs – a foster parent, constantly helping others, looking for ways to be a blessing. She and her husband both have health challenges, yet, nothing seems to get her down. In every picture, they are smiling. In every conversation, they are laughing. She is the one that gave me an awesome idea. We received donations of toiletries and money from clients, business partners, family, and friends. We had bags and bags full of toothbrushes, shampoos, lotions, hair ties, etc. We filled purses with items that would be helpful for the women who are staying at the Nashville Rescue Mission. What a blessing!!! And, not just for the women. Everyone had a smile on their face when they handed me a check or a bag full of donations. Our team was giddy while we organized and filled all the bags. Thanksgiving is a state of mind. It can be practiced every day. Try giving something to someone else this week, without the thought of getting anything in return. It can be as simple as helping someone across the street – when you’re going the other way, or handing the person standing at the corner with the sign the snack you just bought for yourself. If you are reading this, I bet you have a lot to be thankful for. Take a moment to reflect on your life, your family, your friends, your community. Then think about those men, women, and children that don’t even have a place to lay their head and call their own. Thank you to all of you. You have touched our lives in some way. Thank you to the one with the idea for donations (you know who you are), and to all who donated. I’m sure the residents will be happy to receive but we were probably even happier to give. Happy...

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7 Tips to Make Your Move Easy

7 Tips to Make Your Move Easy

    Moving homes and relocating can be challenging due to all of the tasks that are involved. From packing up all of your personal belongings to transporting them to a new area, there are several steps involved in moving to a new property. Here are 7 tips to make your move easier and more efficient. Purge Your Home It’s important to avoid packing the items that you no longer need, as this will spare you lots of time and energy. Throw out items that are old or worn or items that lack sentimental value. Large items can require lots of time and effort in a move, so consider getting rid of an old mattress that is sunken in or doesn’t provide enough back support. If you buy a new quality mattress for your home, you can avoid the additional heavy lifting and have it delivered to your front door. Color-Code Each Room Designate a color for each room of the home, which will make it easier for you (and hired movers) to determine where each box should be unpacked after unloading the moving truck. Use colored duct tape to seal each box or label it with a colored marker or sticker to make it easier to keep everything organized. Pack a Bag with the Essentials From toilet paper to bottled water, there are a number of items that you’ll need to have on hand when moving into your new home. It’s important to have a bag or box with you that contains important essentials like time sensitive documents, the keys to your new house, towels, and even hand soap to use at your new home before you’re able to unpack all the boxes. Hire Professional Movers You don’t need to attempt a move all by yourself! Hire an extra set of hands to help you make the process easier and faster. You can hire professional movers to pack your belongings and transport the items with tools and products that you may not have on hand. This will also reduce the common risk of an injury occurring from attempting to lift the boxes yourself. Hire a Pet or Baby Sitter If you have a pet or kids in your care, consider hiring a sitter who can watch over the animal or children as you begin the moving process. This might put you more at ease throughout the process. Use Wardrobe Boxes Use wardrobe boxes when it comes to moving all of your clothing items that are hanging in your bedroom closets. Wardrobe boxes make it easy to move clothes by keeping them hanging, which will prevent them from becoming wrinkled or damaged as they’re transported. This will also save...

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Contingencies – What do they mean?

Contingencies – What do they mean?

  A real estate contract can have many different contingencies. Dictionary.com defines a contingency as “dependence on chance or on the fulfillment of a condition.“ Typically, there is trust money (aka earnest money) given as a deposit in a contract. Contingencies can be a way to protect that money if there is a valid reason that the Buyer cannot perform. Both Buyers and Sellers can use contingencies for their protection. Here are 5 common contingencies and what they mean. Financial contingency: A financial contingency is commonly used when the Buyer is getting a loan to purchase the property. This contingency means that if the Buyer’s financing falls through and they can’t get the loan, they are not bound by the contract. In most cases, the Buyer’s trust money would be returned.   Appraisal: An appraisal can be used whether or not the Buyer is getting a loan. If there is a lender involved, they will require an appraisal be done on the property to ensure the property’s value and to protect their investment. A cash buyer may want an appraisal to ensure they are not paying more than what the property is valued at, especially if it is priced high for the market or is a tough property to find comparisons for. When written properly, an appraisal contingency will also require the Seller to release any trust money the Buyer paid per the contract.   Inspection: Most Buyers will opt to have a property inspected before they purchase it. An inspection contingency allows the Buyer to be released from a contract if the inspection results are not satisfactory or if the Buyer and Seller cannot come to agreement regarding repairs or concessions for repairs.   Home Sale: A home sale contingency can be used if a Buyer needs to sell their current home before they can purchase a new property. In fast-moving markets, Sellers are not always willing to accept home sale contingencies because they will be, essentially, taking their house off the market while it is under contract and if the Buyer’s home doesn’t sell, they will have to start over. However, Sellers may be willing to accept this type of contingency if the Buyer agrees to a kick out clause. This would allow the Seller to continue to market the home and if another offer is made, the current Buyer would have a short period of time in which to remove the home sale contingency and continue with purchasing the property or if they can’t, the Seller can terminate the current contract and move forward with the new Buyer.   Bank Approval: This contingency is used when a Seller is trying to sell their property as a...

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Nashville Jobs

Nashville Jobs

  If you are looking for a job or just a good reason to make a move, listen up. Abodo, a website and service that helps renters find apartments, conducted a study of the 25 most populous cities in the US and gathered job density data for the five fastest-growing occupations. Nashville, Tennessee made the list. Here’s how it stacks up.   Are you a physician, surgeon, technician, dentist, chiropractor or therapist? The Nashville job market ranked #6 for healthcare practitioners & technical occupations. Nashville also ranked #8 in arts, design, entertainment, sports, & media occupations. If you are an actor, journalist, designer, social media specialist, professional athlete, in public relations or, of course, a musician, Nashville may be the place for you. With a population of nearly 700,000 and an average of 90 new residents every day, Nashville doesn’t seem to be slowing down. Every month, new companies are announcing their move to the area and more and more jobs are being created. Nashville also has very temperate weather. It rarely gets too cold or too hot. Average temperatures range from the high 20’s to high 80’s. We get about 120 days of rain each year which means grass is green and flowers are plentiful.   Of course, if you decide to make the move to the Nashville area, you’ll need a place to live. If you want to start off by renting, try Abodo.com. If you want to put down your roots and take advantage of the great interest rates and tax breaks that home ownership can provide, The Michelle Froedge Team can...

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