Preparing For Your Transition to Your New Home

For all sellers of homes, you know that there is going to be a transition time before moving into your next home, whether it is a home you are building, renting, moving to across town, moving to across the country, or maybe moving in with your parents because they need extra medical comfort care. No matter the reason for your move, you are going to have transitional housing and moving expenses. What you need to do is prepare for them ahead of time so that you don't get caught looking for something at the last minute.

Here are some ideas:
Rent a house
Rent a hotel room
Borrow a friend's RV
Live with your family members
Check out transitional housing in your town. There just might be a company available that does that. Here in Moses Lake, WA, we have a company that rents furnished units and has a laundry facility available. It's a little higher than the local hotel on the lake, but you don't have to unpack your dishes or linens because it's taken care of for you. The name of that place here in town is called Heritage Suites.

Many of these places need to be reserved in advance. So, call ahead!

Please remember, as the adult of your household, it is your responsibility to cover all of those expenses yourself and if you check with your CPA, you might even be able to put the expense on your taxes as a deductible moving expense.

Connie Suehiro, Realtor
Gary Mann Real Estate
509-431-5804 direct

Who Pays For Closing Costs?

When you buy a home in Moses Lake, you will pay approximately 2.5% to 3% of the sales price in closing costs. These closing costs include excise tax, title insurance, a loan origination fee (around 1% of the sales price) if you are getting a loan, recording fee of $42, which are most of the closing costs.

When you sell a home in Moses Lake, you will pay approximately 2.5% to 3% of the sales price in closing costs too. However, you will also pay commission when you use the services of a real estate agent. Sometimes, sellers prefer to sell on their own, but if you've never sold a home on your own before, be sure to do your homework on the legal forms that are required before you do this. Now, of course, I love helping people sell their homes, and I know how hard I work for my clients, so naturally I would recommend that you use my services. If you think you could save money by selling it yourself, it turns out that statistically, sellers who hire a real estate agent usually get a better sales price than if they didn't, but that's another topic.

Now, what if you want to be nice and just sell your home to a friend, and set the purchase price at the same amount that you paid for it 10 years ago, plus have them pay for the new vinyl windows and fencing? So, the purchase price would equal the original purchase price plus windows and fencing. So, you you want to walk away from the closing table with the exact amount that you put into it. At that point, which is rather unusual for a seller to do, but can be do-able, you would ask the buyer to pay for all your closing costs so you can do that.

What would the process be?

You let the buyer know what the purchase price is, then ask them to pay your closing costs. Assuming, and you should NEVER assume, that your house has gone up in value, their lender's appraisal should come in at the purchase price plus your closing costs. If not, you'll have to settle for the amount of the appraisal, but help them write up the offer for the amounts added together, and explain to their lender what the two of you are planning to do. See if that works out.

Happy selling!

Connie Suehiro, Realtor (r)

Gary Mann Real Estate

*******************************************************

Quote of the day: Do unto others as you would have them do unto you.

********************************************************

Are you or your kids into doing crafty projects? Join us at Midway Elementary on Thursdays at 4:00 p.m. for the local, weekly 4-H meeting. Lynn is a GREAT teacher who is VERY patient with the kids. This Thursday we are going to tie-dye a pillowcase!