Month: January 2015

North Slope Historic District Home

/ Elaine Hilton

north slope-1

This Stick-Style home was built in 1889 for John and Virginia Mason, (Nope,  she is not the “Virginia” of Virginia Mason Hospital, I checked.) John Mason was from Illinois and had enlisted with the Chicago Mercantile Battery of artillery at the start of the Civil War and served at Vicksburg under General Sherman.  He was later drafted into the military telegraph service.  After the war he returned to Chicago and worked in telegraph service, eventually becoming the chief dispatcher for the Wabash Rail Road line.  In 1888, Mr. Mason moved to Tacoma as the assistant superintendent  of the Northern Pacific Railway.  His wife, Virginia was an early suffragette, and helped make Washington one of the first four states to adopt women’s suffrage.  She was also influential in establishing Franke Toby Jones retirement home.

 

 

As a Seller, Should You Get a Home Inspection?

/ Elaine Hilton

downloadhome inspectionAs a seller, you need to know that nearly every buyer that makes an offer on your home, will make their offer contingent on a professional home inspection, that is satisfactory to them.

Having a home inspection prior to listing your home offers many benefits.  First, it identifies any major problems that could scare off a potential buyer, even if you are willing to fix the problem. Remember, the home inspection must be satisfactory to the buyer!  If you repair these problems, before you list your property, they become a non-issue.

Secondly, if you are unwilling or cannot make repairs, you can have the work bid, and price your home accordingly.  You will be in a better position to negotiate with the buyer, when you know what is wrong, disclose it to the buyer and know what the cost is to repair the problem.

You will have time to get bids.  Usually the home inspection contingency calls for you to respond to the buyers request for repairs in a short amount of time.  If you have already had your home inspected, you will have had time to get several bids for the repairs. This will give you a better idea of your net proceeds, so you can budget for your upcoming move or purchase of your new home.

The Appraisal Process

/ Elaine Hilton

appraisalWhen purchasing a property with a new loan, the lender will require the home to be appraised to determine fair market value, and that the sales price is warranted. A licensed appraiser will be assigned to complete the appraisal and will begin researching nearby houses that have sold in the last 6 months and are similar to the home being purchased in size, age, style, construction and amenities.

The appraiser will visit the property and will take 30 minutes to an hour to look the property over.  The appraiser will measure the home to determine square footage and draw out the floor plan, take photographs both inside and out and review the home’s overall condition, upgrades, and amenities.

The appraiser will provide the buyer’s lender an appraisal within a few days of visiting the home.  If the appraiser has recommended repairs to the property, these repairs must be completed and re-inspected by the appraiser before the loan process can be completed.