Rimma Realty

The Selling Process

Thu, 05 Mar 2020 06:12:00 GMT

Selling your home is easy with this simple guide .

Selling your home is an exciting time – you are moving on to something new and different. Do not get bogged down with the details of selling when you use this simple guide.

Choose an agent

Before you go barreling out the door to list your home, make sure you have the right agent representing you. A listing agent helps you navigate the process of selling your home and looks out for your best interest. It is a good idea to interview multiple agents to find the one that works best for you.

Know the value of your home

Have your home appraised so you can list it accordingly. Keep it in line with other homes that have sold in the area.

Prep for sale

Get your home open house ready. Remove all clutter and personal items to help you stage your space in the best light possible. If this feels like something that is out of your scope, consider hiring professionals. It will be an added cost, but might be worth it in the end.

Market well

No one is ever going to know your home is for sale if it is not marketed well. Your agent should take care of most of this, but make sure you approve the marketing campaign before it starts. That way, you can change anything ahead of time.

Showing and open houses

Agents generally prefer a lockbox or keypad since that allows them to show your house more often to potential buyers. Remember that buyers might need times that are not convenient to you; consider that as you schedule your open houses and showings.

Negotiate

There is no reason to accept the first offer that comes in on your home. Do not be afraid to make a counteroffer for the full listing price.

Escrow

Once you have accepted an offer and escrow is open, order the title to your house. This is important to begin the closing process. Make sure you have a receipt for the buyer’s earnest money deposit.

Schedule an appraisal

Make sure the home looks as good as possible before the assessment. If your home is valued very low, ask your agent about alternative options.

Order an inspection

A home inspection is one of the final steps in the selling process. Make sure you work with the home inspector and have a list of everything that should be checked before their arrival.

Disclose everything

If there are defects or problems with the property, make sure you disclose them. Your title company should provide you with the paperwork you need to be upfront and open.

Repair requests

Negotiate for repair requests. In some instances, a buyer might accept a credit toward the closing costs in place of having a repair completed.

Release contingencies + sign documents

The buyer will need to release the contingencies on the contract to allow the process to move forward. Once that is complete, make sure the title is signed, and the escrow documents are in order.

Finally, scheduling a closing date where you sign the final paperwork and hand over the keys.

The post The Selling Process appeared first on Rimma Realty .

Downsizing Checklist

Thu, 16 Jan 2020 05:06:00 GMT

The Only Downsizing Checklist You will Ever Need

The most important advice moving experts give about downsizing is to take it one-step at a time. That might seem impossible since there are so many things to consider when moving into a smaller space. Make sure you get started sooner rather than later – that will make moving day so much less stressful. To help you stay organized; use this simple checklist to cover all of your bases.

Get yourself organized first

Before you start to think about combing through your current home, you need to have your own plans organized. That means prioritizing your moving timeline. You should be realistic about this timeline. One of the most important reasons you need to start far in advance is so that you do not find yourself scrambling at the end to get everything done.

Being organization should include getting estimates from moving companies, setting a date for the move, and knowing how much space your new home has. Then, you are able to work backward to create a reasonable schedule for how long it will take you to organize each room.

Decide what stays and what goes

With your timeline in hand, go through each room and decide what to keep and what to sell, donate, or get rid of completely. Big appliances should also be a part of this inventory. Depending on where you are moving, you might not need your washer and dryer or kitchen appliances.

Make sure you carefully inventory each room. Do not leave closets and drawers out of the mix, either. These spaces often contain many items that can be discarded or donated.

Sort, sort, sort

Once the inventory is complete, you need to get to work sorting the items. Instead of writing out lists to keep you organized, consider using colorful sticky notes or stickers to designate what stays and what goes.

If anything is broken, stained, or torn, toss it. Donate items that are gently used but still have some life in them, and consider selling items that are still functioning well.

List your salable items online or consider having a yard sale if that is allowed within your community. The sooner you do this, the better since it might take some time for your items to sell.

Admin

Once you have decluttered your space, make sure you take care of the admin side of moving. That means you need to update your address with the post office and will all companies and providers who have your address on record. This includes your bank, credit card, and loan companies. Do not forget doctor’s offices, your vet, or the gym.

Talk with utility providers and schedule activation appointments in your new home.

It is time to pack

With everything in order, the last thing you need to do is pack. If you have hired a moving company, they will do this for you. If you are packing yourself, make sure you have more boxes than you think you need and lots of packing paper and tape on hand.

Most importantly, do not forget to label your boxes. The last thing you want is to move in and not know which box holds what you need.

When you start with small steps, it is easy to make downsizing stress-free and straightforward. Take an hour a day to work toward your move out date, and before you know it, the project will be complete.

The post Downsizing Checklist appeared first on Rimma Realty .

Corporate Relocation Tips

Thu, 16 Jan 2020 05:06:00 GMT

A corporate relocation specialist can take the stress out of a big move.

Moving to a new area – whether in the same state or a brand new one – involves a lot of moving parts. Especially if you have no familiarity with the area, it might feel like the process is insurmountable. Fortunately, hiring the services of a corporate relocation specialist can help.

Cut your stress and reduce your anxiety when you work with a relocation specialist who understands what you are going through. These specialized agents have a specific niche of expertise, helping clients just like you.

Relocation specialists have advanced training to be the best advocate for you and your move. They can help answer any of the questions you might have about your move and offer a gentle perspective on how to make a move the most successful.

When your company is relocating you to a new area, most of your moving costs are covered. Still, there are always surprises along the way. Make sure you are clear about what will be paid for by the company and what you are expected to cover. Ask your HR department questions about the following:

Who pays for an orientation and house-hunting trip to my new city?
What specific costs for moving are covered? Does this include household good packing and vehicle shipment?
Who pays closing costs on a new home?
Does the company offer a service to help sell your existing home?
Is there any employment help for your spouse?

Once you are clear on these answers, you are better positioned to make your big move. Enlist a qualified and seasoned relocation specialist to help you with all of the nuances of your move. This might include any of the following:

An accurate comparison of city-to-city costs
Recommendations for reputable moving and storage firms
Counseling and strategies to reduce stress
Basic tax advice about relocation deductions

Relocation specialists can take the stress out of your move so you can focus on what is most important.

The post Corporate Relocation Tips appeared first on Rimma Realty .

A Simple Guide to Probate

Thu, 16 Jan 2020 04:19:00 GMT

Understand probate with this easy to understand step-by-step guide.

State law ultimately determines how probate works, but the general idea is the same, no matter where you live. Probate is a court-supervised process that validates the will of a deceased person. This involves identifying the final assets of the person, paying the last debts, and distributing property.

When is probate necessary?

Depending on where you live, probate might not be required to transfer property. Many state laws indicate if a property is valued below a specific amount, it can be passed to heirs without probate proceedings.

There are a number of financial accounts that do not require probate. These include some 401(k) plans, IRAs, and pensions. Assets in these types of accounts can automatically be transferred to the beneficiary named in the will.

If the deceased had a large amount of property or did not have a will, the probate process becomes more complicated.

How does it work?

Generally, a will names an executor. This person takes charge of overseeing the entire probate process and will usually have 30 days from the date of the will owner’s death to file the right paperwork with a local probate court.

If there is not a will or there is not an executor, the probate court steps in to appoint someone. Usually, this is the next of kin, but if the next of kin declines, the court can appoint someone else.

Validating a will

The executor of the will has to prove it is valid. That means there will be a hearing in court where all the beneficiaries listed have a right to look at the will. To figure out if the will is valid, self-proving affidavits help prove authenticity. Then the will grantor and witnesses sign off, and the will is considered valid.

Then the executor receives and signs letters that legally bind them to the probate process.

Identifying assets

When the probate process is underway, the executor has to identify all of the assets and their value. Some states will require executors to provide the court with financial documentation detailing assets and value.

Contacting creditors, paying off debt

Creditors have a limited time in which they can make claims against the decedent’s estate. These vary by state. However, an executor can challenge the claims and then petition the court to make decisions.

Filing taxes

Even though a person has died, they are not exempt from filing taxes. An executor has to file and pay off any final taxes using estate funds.

Property Distribution

After the court confirms that all taxes and debts have been paid, it can move forward with dividing what remains of the estate. If there is no will, this is usually parceled between immediate family members.

Avoiding Probate

Revocable living trusts can hold almost anything of value – ranging from bank accounts to physical property. These items do not’ have to go through the probate process since they are not technically part of an estate at the time of death.

Another option is to bypass probate with pay-on-death accounts. This is usually just a form issued by your bank that designates a beneficiary. At the time of death, this account transfers directly to the recipient, completely sidestepping the probate process.

Remember that even though probate sounds intimidating, it is really a simple process. The most important thing is to have a will that helps transfer property to the right people.

The post A Simple Guide to Probate appeared first on Rimma Realty .

How to Best Market and Sell Probate & Trust Real Estate

Thu, 16 Jan 2020 04:19:00 GMT

Marketing and Selling Probate Real Estate takes the right agent. Find out how to make this kind of real estate work for you.

Selling your probate real estate depends on one thing – the right agent. You need an agent who understands the challenges of fiduciary sales and one who can rise to the unique needs of your particular situation.

That means that the best course of action is to vet and interview all prospective agents thoroughly. Make sure you ask them how many probate, estate, and trust properties they have sold in the last year.

When you have a clear understanding of how much of their business is targeted on probate sales, you will know whether or not you are in good hands.

Additionally, asking a potential agent what specific services they have to help meet your needs is a great idea.

Listing your property with an agent who has years of experience with fiduciary sales will help ensure your property sells for the highest value.

Make sure you have a clear objective for the sale.

No matter your property, the objective should be the same:

Get as many qualified buyers looking at the property as possible
Consistent and effective communication between the agent and the seller
Persuasive negotiation to make sure the property goes for the highest reasonable price.
A quality agent should use a proven property prep strategy to get probate, estate, and trust properties ready for sale.

This often includes an agent helping with estate liquidation or removal of personal items before the sale and working directly with attorneys to find the most cost-efficient way to administer the process.

Carefully marketing your property for maximum resale potential includes following a simple checklist. The most qualified probate real estate agents will likely have their own list of items to follow. It is also a good idea to have your own suggestions. This includes some of the following:

Make sure the property is visible on MLS with quality digital photos and a virtual tour.
Price the property competitively.
Prospect for at least a few hours a day to widen the net of potential buyers.
Enlist cooperating brokers in the area.

Your agent will have his or her own system, and that is just fine. The important thing here is to make sure it is in line with your vision of this process.

If you are in the market for buying probate property, you are in luck since the competition for probate properties is often lower than “move-in ready” homes. Remember that probate real estate is subject to court confirmation and sold as-is.

That means it is worthwhile to work with a probate real estate agent who can help you secure the property under the right terms.

No matter if you are buying or selling when you spend time finding the right agent, you are making the process smooth, efficient, and virtually stress-free.

The post How to Best Market and Sell Probate & Trust Real Estate appeared first on Rimma Realty .

What is Probate, Estate & Trust Real Estate?

Thu, 16 Jan 2020 04:19:00 GMT

Estate administration does not have to be complex or confusing when you are clear on a few key terms.

Understanding the world of probate, estate, and trust real estate is simple when you know the definitions of these commonly used terms.

Understanding estate administration

Estate administration means that the sale of a real estate and personal property is allowed if a person fits one of the following criteria:
Incapable of managing basic needs or financial affairs
Child under the age of 18
If the person is deceased.

The majority of these sales are considered “probate.” That means they are supervised by a Probate Court, either in the county where the real estate is located or in the county where the probate is filed.

What is a fiduciary?

A personal representative is also called a fiduciary. Do not let that term confuse you. A fiduciary is a personal representative who administers the sale of a property. That person is either

An executor named in a will
An administrator appointed by the court if there is no will, or if a will doesn’t name an executor or the named executor doesn’t want to serve
A conservator – a person appointed by the court to care for the person/estate
A guardian for a minor
A fiduciary collects the assets on the estate. Then this person pays the debts that best protect the interests of those involved.

Reasons to sell a probate

There are many reasons why a fiduciary might deem it necessary to sell a property. Often it is because of one of the following:

To pay debts, bequests, family allowances, or for the expenses of administration and taxes
The will directs the property be sold
The property is a drain on the estate
The property can’t be easily distributed to more than one person
Arguments among the heirs
Conditions of the market

Two types of probate sales should be familiar – sales requiring court confirmation and sales without court confirmation.

A sale that requires court confirmation might grant exclusive rights to sell a property. These sales take longer than standard sales because of the additional court processes involved. The goal is to protect and promote the interest of the beneficiaries. After a transaction is confirmed, the bidder has to deposit at least 10% of the purchase price for the sale to move forward.

When a fiduciary has full administrative powers or if the property is held in a non-court supervised trust, court confirmation of a sale might not be necessary. The length of time to complete this kind of sale is similar to conventional real estate. However, the executor is exempt from disclosure, unlike in an ordinary sale.

When you understand the differences in probate, estate, and trust real estate, you are better equipped to make informed decisions about the process.

The post What is Probate, Estate & Trust Real Estate? appeared first on Rimma Realty .