The Most Important Things to Remember When Moving

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There are a lot of different things to take care of when you’re moving. It’s easy to forget some of them, but we want to discuss some things you should take into account when planning your move so you can make sure all your bases are covered. Here’s where to start:

1. Hire movers right away. Don’t pick the first company that sends you a postcard; I’ve made that mistake before. Ask for a referral or look up different companies on Yelp!

2. Change your address. Log on to usps.com to change your address as soon as you close the transaction on your new home. While you’re at it, change out your financial records, banking records, and DMV records. Make sure they all have your new address.

3. Turn off/on your utilities. If you’re a seller, shut down the utilities in your name within two to three days of closing so you aren’t charged any extra. If you’re buying, set up those utilities before you actually move in.

4. Call the phone and cable companies. You may want to keep the same company or you may want to change things up. Do your due diligence first to make sure the quality in your neighborhood is there if you plan to keep the same company.

5. Claim proof of residency. This is an important step, especially if you’re moving into a strong school district in a highly sought after area.

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Hire movers right away.

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If you or someone you know is looking to buy or sell, give us a call or send us an email. We look forward to talking with you soon!

The Difference Between Down Payments and Good Faith Deposits

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Want to buy a home? Search all homes for sale.

Today I’d like to explain the difference between good faith deposits and down payments. They’re fairly similar and a lot of my clients confuse them.

A down payment is basically telling how much a buyer is willing to invest in a property whether it is by choice or required by the bank. VA buyers aren’t required to put any money down, and FHA loans require 3.5% down. Conventional loans typically require 10-20% down on a home. If you put down less than 20% on a conventional loan, then you’ll be forced to pay private mortgage insurance. This money must be brought to the table one week prior to closing escrow.

A good faith deposit is typically 1% of the purchase price. The difference here is that money needs to be deposited in escrow within 48 hours of acceptance. So basically, the good faith deposit shows how eager you are to buy the home. However, if you go through the contingency period and then decide not to buy the home, that good faith deposit is usually non-refundable.

That’s it for now, but if you have any other questions about real estate in San Diego, please don’t hesitate to contact me!

How Do Real Estate Commissions Work in San Diego?

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Want to buy a home? Search all homes for sale.

People always want to know how real estate agents get paid. Today I’ll be here to fill you in and explain how everything works.

When someone sells a home, a listing agent will charge them a 6% commission rate on a home. That 6% is further divided up and the buyer’s agent gets the other 3%.

Next, 1% of this transaction will go back to the broker, whether it’s a big franchise or not. This goes to overhead, paying employees, and other professional expenses. Another 1% of this commission goes towards paying taxes.

Finally, the last portion, or 1% of that 6%, goes to the agent. Usually, the agent will spend this on marketing, or whatever expenses it takes to get the home sold.
  

That’s how agents get paid. Even though we charge 6%, we never get all of it.

If you need help selling your home in sunny San Diego, please don’t hesitate to contact me!