South Jersey Real Estate Blog

Important Real Estate Documents to Keep in a Safe Place

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Buying and selling a home generates a lot of documents…no question about it!  When you walk away from the table, you generally have a binder full of documents from activities leading up to and including the day of sale.  Which ones should you keep?  As long as you own your home, here is a list of important real estate documents you’ll want to keep in a safe place:

 

1. Property deed: keep it for as long as you own the property.  
2. Closing statements: keep statements for three years after your purchase to show capital gains.  
3. Home improvement: some remodeling projects can reduce a potential capital gains hit when you sell your property, so save your receipts and consult your accountant.  
4. Warranty information: keep until the warranty expires.  
5. Loan papers: keep until paid off or refinanced, or in the case of mortgages that have tax-deductible interest, keep them for three years.  
6. Insurance policies: keep until the policy expires.  
7. Receipts or statements: save credit card receipts and/or checking account statements or cancelled checks for all major purchases such as appliances, furniture, antiques and art  

When you sell your home, you’ll usually be required to submit a disclosure form. Receipts for major home improvements like a new roof or remodeling project can help you complete disclosure forms and substantiate the good condition of your home.

 

A bank safety deposit box or fireproof safe is the best place to store your important documents. Be sure to save an up-to-date household inventory, complete with appraisals, receipts and photos or a videotape for insurance purposes in case of loss.

 

Please call or send us an email if you have questions about the real estate process.  We’d be happy to discuss with you!

 

 

 

 

Carbon monoxide detector: Do you have one?

If you're like me, and the many other homeowners who have been in their home for awhile, the answer probably is...no! 

When you buy/sell a home today, the local township requires that a carbon monoxide detector be in the home before they will issue a certificate of occupancy.  So for the majority of people who bought their home in recent years, they have one.  For the rest of us however, it's probably one of those things we overlook and say we'll get to later.  It occurred to me this morning, that I'm one of them!

What is carbon monoxide?  From wikipedia, it's a colorless, odorless, tasteless gas that is poisonous if inhaled.  In a home, this gas can be formed from items like furnaces or heaters, wood-burning stoves, car exhaust, and propane-fueled equipment such as portable camping stoves.  Also, if you have a workshop in your basement or garage, gas powered tools emit carbon monoxide as well. 

So do yourself a favor, run out to your local hardware or department store and buy one.  It only costs a few dollars and could potentially save your life.  I'll be over at Lowe's later today!

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Facing Foreclosure? Avoid Fraud

The following video was recently posted by Freddie Mac.  More and more people are falling behind on their mortgage payments and are facing foreclosure.  Unfortunately, there are more and more people trying to take advantage of this situation.  The video has some tips on how to avoid scams. 

Keep Your Curb Appeal Up This Fall

One of the biggest factors in maintaining and/or increasing your homes value is to make sure it has curb appeal.  In other words, make sure it looks nice from the street.  Whether or not your home is up for sale here are some things to think about this fall:

1. Raking - Yes I know, raking leaves can be a chore.  Many people wait until all the leaves are down and do it all in a single weekend.  Think about doing a little at a time.  Leaves that sit on the ground for a prolonged period and lead to insect and other problems for your lawn.
2. Fertilize - If you have cool season grass like Kentucky Bluegrass, fescues and perennial rye-grass, you probably should fertilize this time of year. 
3. Repair - Now is a great time to repair all those bare spots that developed over the summer.  Fill any bare patches will topsoil and grass seed. 
4. Water - If you fertilize or repair, remember to keep water on it.  Many people don't think to water when it's colder out, but new grass needs it.
5. Pruning - Go around bushes and plants and remove dead or broken branches
6. Flower Beds - Add some seasonal plants like pansies and mums.  Also, add a fresh layer of mulch.

Some Tips To Save On Utility Bills

No matter how hot or cold it is outside, you can apply some simple tips to reduce your energy bills year round:

* If you have storm windows, leave them in year round.  In hot weather, it keeps cool indoor air in and hot outdoor air out. When it's cold outside, it does just the opposite--keeps warm air in and cold air out. 
* Change the filters on your heating and/or air conditioning units once a month. A dirty filter forces the equipment to work less efficiently.
* Caulk and weather-strip your doors and windows. Experts say this can cut your energy bills by as much as 30%!  You can get supplies at any home improvement store and is real easy to do.
* Conserve water and save money on your bill by making sure your faucets don't drip or leak.  Sometimes it's as simple as changing a washer.

These small changes can add up to significant savings on your energy and utility bills during the year. If you have any real estate–related questions, please call or email me. I would be happy to help you.