JosephFeng.com, Joseph Feng

Table of Content
Where to Start How to price your home Buy or Sell First? Simple Things to sell your home Understand Home Inspection	Agency Relationship How commission works Understand Escrow
Finance Related Seller's Closing Cost	Documents Basics of an Offer What is seller disclosure

Where to Start
	How to price your Home The single most important factor to consider when selling a house is the home price tag: how much your house is worth. You don't want to overprice the house because you will lose the freshness of the home's appeal after the first two to three weeks of showings. After 21 days, demand and interest wane. On the other hand, don't worry about pricing it too low because homes priced below market value often will receive multiple offers, which will then drive up the price to market. Pricing is all about supply and demand. It's part art and part science, and no two agents price property the same way.(...More)
	Buy or Sell First? For homeowners aiming to sell their home and buy another, it's the classic real estate, which came first, the chicken or the egg, question -- buy or sell first? If you sell first, you may find yourself under a tight deadline to find another house, or be forced in temporary quarters. If you buy first, you may be saddled with two mortgage payments for at least a couple months. You may need the money from the sale of your original home in order to pre-qualify for a loan for your new home. You may be facing a job relocation and need to sell quickly...(More)
	Simple Things to sell your house To make sure your home sells in a buyer’s market, there are a few things that you could do. Here are 9 home improvement techniques to help you sell your home more quickly: 1. Make sure you are selling at the right price I know it’s very difficult to sell your home for less than what you bought it for a few years ago. It’s even harder if you’re upside down on your home loan. But you can’t insist on unrealistic price if you want to sell your home in a down market. To find the right price, you can (...More)
	Understand Home Inspection What is a home inspection? A home inspection is an objective visual examination of the physical structure and systems of a house, from the roof to the foundation. What does a home inspection include? The standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components...(More)

Agency Relationship
	How Commission Works To understand who pays real estate commissions -- whether it's sellers or buyers or both -- first take a look at how real estate agents are paid and how they share cooperating commissions. Don't be embarrassed if you don't know how commissions work because I've had clients who didn't know, even though I had sold their home, represented them to buy a new home and then later listed that home for sale...(More)
	Understand Escrow Escrow: What is it? Very simply defined, an escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event. The California Escrow Law : Section 17003 of the Financial Code : provides the legal definition.... (More)

Documents
	Basics of an Offer The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known in some areas as a purchase agreement, earnest money agreement or deposit receipt). It's important, therefore, that it contains all the items that will serve as a "blueprint for the final sale." These purchase offer items include such things as: Address and sometimes a legal description of the property Sale price Terms -- for example, all cash or subject to your obtaining a mortgage for a given amount Seller's promise to provide clear title (ownership) Target date for closing (the actual sale) Amount of earnest money deposit accompanying the offer, and whether it's a check, cash or promissory note, and how it's to be returned to you if the offer is rejected -- or kept as damages if you later back out for no good reason...(More)
	What is seller disclosure Not sure whether you need to mention to potential buyers that your basement once flooded because your neighbor's swimming pool cracked? Or about the summer you had to call in the exterminators to get rid of the termites? Is the nearby presence of a gas station or dry cleaner important? What about the fact that every Saturday morning at 7 a.m. the fire station 2 blocks away holds 30 minutes of fire drills, including testing sirens? The answer is: Disclose it all.(... More)