Oh captain! Oh captain! In a real estate transaction, how do you navigate to get to your goal? The same or similar as a captain on a ship.
Agents need to be like the captain of their ship. Stay calm. Be prepared for any storm. Know how to navigate safely and avoid rough waters that pose liability, hazards, and risk. Stress leads to mess - Avoid both.
Come rain or high water, read the contract. Know your deadlines. Understand people. When under contract, encourage backups. Clearly, timely, and effectively communicate, communicate, communicate.
One of the most widely misunderstood words appears in the contract. In Texas, Real estate forms were written and approved by the Texas Real Estate Commission Broker and Lawyer Committee. Follow the process. Read the contract.
The Listing Agreement is part of the Contract. So are Amendments, Addendum, and other Documentation. Keep accurate records.
Understand what FEMA is and what is expected. Homeowners who have a government backed mortgage and are in a designated flood zone must purchase flood insurance. From a standard homeowners' insurance, "flood" is excluded." Reference FEMA's National Flood Insurance Program (NFIP) Dwelling Form F-122 for definitions. Mortgage holders may require flood insurance as a condition for making a loan even if the mortgage is not government backed. Get a reputable Mortgage Lender.
How often does FEMA change? FEMA is required to review community flood maps every five years.
What is one of the most important tips for obtaining a mortgage? Know your limits. Pay on time or you do not stay in your home for long. Don't go credit happy applying for new lines of credit. Pay your credit cards in full each month, or at the very least on time. Review your mortgage and insurance policies regularly.
Be the Captain of your home. Pay on time. Maintain your property. Avoid damage and risk caused by people (including yourself), pests, and predators. Home maintenance includes the following and more:
- Structure
- Roof
- Chimney
- Gutters
- Pipes
- Electricity
- Gas
- Water
- Leaks
- Holes
- Heating
- Air Conditioning
- Ceilings
- Showers
- Sinks
- Tubs
- Faucets
- Drainage
- Doors
- Windows
- Floors
- Paint
- Interior
- Exterior
- Landscaping
- Attic Insulation
- Porches
- Entry
- Irrigation
- Sidewalks
- Garage
- Appliances
- Surge Protectors
- Fences
- Gates
- Locks & Keys
- Screens,
- Wood Trim
- Cabinets
- Countertops
- Hinges
- Built ins
- Attachments
- Security Systems
- Lighting
- Wiring
- Ceiling Fans
- Stairs
- Broken Glass & other repairs
This is entry #1 for the September 2023 Challenge hosted by AR Dr. Paula McDonald and Kathy Streib.
*I wish to express my appreciation for reading and leaving comments on my blog post. The feautre photograph is mine. Content is original by Patricia Feager, REALTOR,® Blog author. All rights reserved. All information is deemed reliable; however, it should be independently verified by the reader. Any reproduction of this blog or use of AI is strictly prohibited.
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