Tag Archives: homebuyer tips

Top Ten Legal Mistakes Home Buyers Make

If you are working with a qualified Realtor, you should be receiving the guidance you need to make smart Real Estate decisions when you buy or sell.  At the same time, you should educate yourself about the Real Estate process so that you understand the steps required.  I truly love what I do and I enjoy teaching my clients about what I do and why I do it, and of course, how it benefits them.  Some of the things that I handle by way of closing the deal are: 

  • Taking the time to assess the buyer or seller at the other end of the deal.  This helps us with making the right decisions with regard to how we market our offer, counter offer, and deal points.
  • Meeting with inspectors at your property to determine condition of the home.  My extensive remodeling and construction experience allow me to provide you with realistic costs and timelines for repairs.
  • Meeting with the appraiser to provide the most appropriate comparables for the property you are buying or selling
  • Acting as a project manager with all of the players involved in the transaction.  This includes, escrow officers, title officers, loan officers, multiple inspectors, retrofitters, contractors, etc.
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I’m so pleased to report that we just opened up our 4th escrow for our latest buyers, after showing them just one property!  I’m sure you are scratching your head and wondering, “How is that even possible?, it takes me 3 days of shopping just to find the right fit in jeans!”
Since 2004, I have been honing my skills so that I can help my clients determine what THEY want in their next home.  Before we start shopping, I ask my clients to come up with a “TOP 5 dealbreaker list”.
We do that by using the following guidelines.  The rules are the same for everyone, regardless of budget.
  • List no more than 5 things, in order of importance that are a MUST for your next home. (See examples below).  It is possible that you will have more than 5 things that are important to you, but if we focus on the top 5 on the list, we will be more likely to find you your home in the most efficient manner. Feel free to list #6 and #7, as it’s always good for me to know as much about you as possible.  Typically, we are able to get at least 3-4 of the top 5 deal breaker list items in your next home, assuming there is a limit to your budget and price range.
  • The list is NOT set in stone.  It is a starting point, and it MAY change over time.  By visiting properties both in person and online, you start to realize what you want and what you don’t want in your next home.  For example, you may not even realize that having a spanish style home was even important to you when you first called me.
  • Keep me posted if your needs change during our search. It’s important that we are all on the same page so that I don’t show you properties that no longer meet your Top 5 needs.
TOP 5 dealbreaker examples:
Ricky and Janet                                                                                               
  1.  Under $2M
  2.  Three+ bedrooms, 2.5+ baths
  3. West of the 405
  4. Guest House or office space separate from main house
  5. NOT on a busy street
Rachel and Jeff
  1. Within 7 miles of work
  2. Two+ bedrooms, 1.75+ baths
  3. 1400+ sq ft
  4. up to $1M
  5. Open concept living room/kitchen

Jonathan

  1. Must be in Santa Monica
  2. The biggest place I can get for under $700,000
  3. Prefer HOA dues under $500 per month
  4. Must have bathtub in bathroom (or place to put one)
  5. 1 bedroom is ok. (can we get two bedrooms?)
If you want to know more about how to work through and prioritize your “Top 5 dealbreaker list”, contact me and we can set up a time to discuss and work through it together.
I look forward to hearing from you!
Revi Mendelsohn, Realtor, The Mendelsohn Group
310-963-7384 cell/txt  [email protected]
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WhatBuyersdontwant
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Top 5 Tips for Opening a New Escrow!


Opening escrow, especially for the first time, can be a bit like navigating uncharted waters. Based on our experience opening multiple escrows for over 12 years, The Mendelsohn Group has compiled a list of useful tips to help homebuyers through escrow with ease!

  1. Read through all paperwork and stay on top of all signatures. If you were to print out every single piece of paper involved in the purchase or sale of a home, the file would easily be three inches thick! As you can imagine, it can be a bit overwhelming to deal with all of that paper. Do your best to stay on top of it and READ and sign as it is sent to you. Don’t hesitate to call your agent with any questions before you sign.
  2. If you are currently renting, DO NOT GIVE NOTICE of your intended move-out date until ALL CONTINGENCIES are removed on your sale. This is incredibly important because if something falls through, you could potentially be out of a place to live! As Revi always says, “I’d rather you have two places to live than none!”
  3. Avoid posting anything on social media regarding the sale. This helps protect you against your landlord finding out of your plans to move prematurely. Posting on social media during negotiations could also affect you negatively because you never know which friends buyers/sellers have in common. When Revi is representing you, she is always planning strategically to get you the best possible deal! As Revi says, she keeps things “in her back pocket” to benefit you in the deal.
  4. Do not discuss any repair or inspection matters with your lender under any circumstances. This is key to ensuring a smooth lending process. If you are unsure of any matters, consult your real estate agent. Bringing inspection matters to the lender’s attention can complicate the loan, and potentially cause the deal to fall apart.
  5. While in escrow, do not make any large purchases such as a new car, furniture, or anything that can affect your credit score and ability to get the loan. The lender repeatedly checks your credit ratios during and up to the close of the loan. Before making any changes such as employment, opening or closing bank accounts, or making large deposits, speak to your realtor and your lender to confirm it has been set up properly. Revi and The Mendelsohn Group team are here to help you every step of the way — no question is too big or too small!

If you have any questions regarding the escrow process, or real estate in general, do not hesitate to contact Revi Mendelsohn at 310-963-7384!

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TOP 8 reasons Why Home Buyers Want The Mendelsohn Group on Their Side

Are you thinking of buying property? Maybe you are looking for investment opportunities. Or maybe you are ready to take the big leap into owning your first home. The thought can be overwhelming if you don’t have the guidance of an experienced team on your side. The Mendelsohn Group has over 12 years of residential purchase experience. We specialize in the following to ensure a positive home-buying experience, and get the best possible outcome for our clients:

  • We help our clients pay an average of 3% UNDER asking price
  • We offer a proprietary “Top Five Deal Breaker System” to help clients determine what is most important in their next home
  • We make our clients feel like they are our only clients through award-winning* customer service and sales experience
  • We provide outstanding project management skills. We have an excellent reputation amongst our peers, as evidenced by listing agents preferring to work with The Mendelsohn Group
  • We regularly secure property from multiple offer situation through successful packaging buyers to listing agent
  • We have excellent negotiation of repair credits due to experience and understanding of home repair
  • We practice solution-oriented strategies to bring all parties of the sale together
  • We present top notch service providers for any repairs after the sale, as well as follow-up with clients to ensure they are settled in their new home

*Rodeo Realty’s Vice-President’s, President’s, and Executive Circle awards 2010-2015  and Coldwell Banker’s Prestigious President’s Circle 2007

Another happy family in front of their first home!

Another happy family in front of their new home!

Last week we closed escrow for a family on a wonderful home in West LA. After several months of searching, we were able to secure 2nd backup position on a home (2nd backup means that 1st backup is in front of us, but 1st backup is behind the buyers in escrow). It was a bit of a challenge for our buyers, as they had access to a special loan program for Military Veterans. This Veterans Administration loan is unfamiliar to most agents in LA.  We had to educate the listing agent and sell her on our buyers. In a matter of 4 days, the 2 other buyers both in escrow and 1st backup dropped out and we won the house! Now our clients’ kids have a yard to play in and to plant a vegetable garden in. They never imagined that they would have two extra bedrooms, one for a home office and the other, a playroom.

For more stories of The Mendelsohn Group’s successful purchase negotiations, click here! If you are looking for these types of results in this highly competitive Real Estate market, call Revi at 310-963-7384.

 

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Why Home Sellers Want The Mendelsohn Group On Their Side

Are you thinking of selling your home? The thought can be overwhelming if you don’t have the guidance of an experienced team on your side. The Mendelsohn Group has over 12 years of property sales and listing experience. We specialize in the following to ensure a stress-free transaction, and get the best possible outcome for our clients:

  • An average of 108% of percent of asking price
  • Full preparation of the home, and assistance with all renovations ranging from painting to complete kitchen refacing. Click here to see our unique approach.
  • Complete consultation on property condition to determine which repairs are most cost effective prior to listing, preventing and reducing buyer credit requests while in escrow.
  • Access to and referrals of top notch service providers for any repairs
  • Marketing the listing on multiple platforms, to ensure it is reaching the biggest audience
  • Under 4 days* on market to receive first offer (*average based on 4 most recent sales) Click here to see the outcome of all of our most recent sales.

The Mendelsohn Group strives to get the most for our clients, through our unique approach in preparation for launch, to our negotiation skills during the escrow process, all the way to staying in touch long after the close of the sale. Take it from our clients below, who sold their home for 18% OVER asking price working with The Mendelsohn Group, and click here to read more of what people have to say about us!

She was patient, professional, and extremely knowledgable…

“We recently sold our Mar Vista home and realtor Revi Mendelsohn worked with us from day one to put together a successful sale. She worked closely with us months before our home sale to determine what sort of improvements we might decide to make. She helped guide us through so many complicated decisions about the best ways to prepare our house to go on the market. Every step of the way, she was patient, professional, and extremely knowledgable. In fact, every piece of her advice paid off. We sold our house for way over our asking price and I’m certain the amazing result we achieved was due to her smart, sensitive, and forward-thinking approach. I had seen her recommended so many times online and wondered if she was really as good as everyone said. And I can tell you that she absolutely is the real deal. She is so easy to work with and will go to bat for you no matter what. You will not be disappointed. If you or anyone you know needs some real estate assistance, talk to Revi. You’ll be so happy you did!” – Cindy and Trent Jones, Home Sellers in Mar Vista 2015

If you have any questions or inquiries, feel free to call Revi at 310-963-7384. We look forward to hearing from you soon!

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First Moms Night Out Success!

After seeing an anonymous post on social media from a mom new to Los Angeles discussing how hard it was to make friends in a new place, The Mendelsohn Group got inspired. We thought, why not put the feelers out to see if we could get a group together? From this idea, the first Moms Night Out came to be!

Having moved from Canada to Los Angeles nearly 15 years ago, I understand how difficult it can be to meet people. Even if you haven’t moved, being a mom and finding ways to make friends sometimes prove challenging. This resonated with me, and I wanted to make it easier for us moms to have a night to ourselves!

On January 19th at the Season 52 in Santa Monica, thirteen ladies got together to mingle with other moms new to Southern California. We had people from not only all over the country, but all over the world! The night was a blast — Seasons 52 was generous enough to support our evening with complimentary happy hour food and drinks for the first hour! We talked about our hometowns, kids, hobbies, and so much more, and enjoyed getting to know each other.

 

We plan to arrange a meeting once a month, at various restaurants all around Los Angeles. The Mendelsohn Group has started a Google Form and closed Facebook Groups to get information about future meet ups. We would love for you to join us at one of our nights out. You don’t have to be from out of town to come, and feel free to tell your friends! Just fill out your name, email, and what part of town you are in, and we will send you official invites to each upcoming event. We want to keep the momentum going, and continue the growth of this wonderful community. If you are interested, click the link below to add yourself to our list.

https://docs.google.com/forms/d/1je95Gm9xyQGdPbVAh9jIkLKxFnE3YWqj9BWwpTejTHw/edit

We’ve also created a closed Facebook group for moms to ask questions, set up play dates, and arrange to get together. If you’d like to be a part of this forum, please direct message Revi on Facebook expressing your interest (click here)! Include your full name, email address, and where you are from.
We can’t wait to meet you at our next Moms Night Out!
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Why Do We Need CO Detectors?

Have you owned your home since before 2011? If so, do you know if you have a carbon monoxide detector installed in your home? Since the California Carbon Monoxide Poisoning Prevention Act of 2010 was passed in early 2011, it is now a requirement by law, and a retrofit requirement when selling your home that CO monitor be present. 

 How do you know if you are exposed to carbon monoxide?

Carbon monoxide is virtually undetectable by humans. It is colorless, odorless, and tasteless. Accidental over-exposure to carbon monoxide results nearly 200 deaths every year. It is emitted by various equipment in and around your house such as:

  • Fuel fired furnaces and fireplaces
  • Gas water heaters
  • Gas stoves
  • Gas dryers
  • Charcoal grills
  • Lawnmowers and other yard equipment
  • Automobiles

How do I prevent CO exposure?

1. The best defenses against carbon monoxide poisoning is installation of a CO detector.

2. Proper installation, use, and maintenance of household cooking and heating equipment, and safe use of vehicles and other gas-powered equipment.

 

 

How should I install my CO Detectors?

1. Centrally located outside of each sleeping area in the immediate vicinity of the bedrooms

2. At least 6 inches from all exterior walls , and at least 3 feet from supply or return vents

3. Avoid locations that can be covered by furniture or draperies.

arm-4How do you test the CO Detector to ensure it is working?

Consumers should follow the manufacturer’s instructions. Using a test button tests whether the circuitry is operating correctly, not the accuracy of the sensor.

What should you do if the CO alarm sounds?

1. Never ignore an alarming CO alarm!

2. Immediately move outside to fresh air.

3. Call your emergency services, fire department, or 911.

4. Do a head count to check that all persons are accounted for. DO NOT reenter the premises until the emergency services responders have given you permission.

Are CO Detectors reliable?

CO alarms always have been and still are designed to alarm before potentially life-threatening levels of CO are reached. The safety standards for CO alarms have been continually improved and currently marketed CO alarms are not as susceptible to nuisance alarms as earlier models.

 

Even if you aren’t planning to sell your home, it is best to air on the side of caution and have CO detectors installed as soon as possible. These inexpensive devices (costing around $100) can potentially save a life. If you are unsure about the maintenance of gas-powered appliances in your home, consider having a qualified technician inspect your appliances to ensure their safety, and discuss proper installation of detectors. This small measure can prevent you and your family from falling victim to carbon monoxide poisoning.

 

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7 Reasons to List Your Home During the Holidays

Holiday-Proof-Your-Real-Estate-BusinessYou’ve probably heard the misconception that the Holiday season is not a good time to list your home for sale. The truth is, the winter months are the perfect opportunity for you to have success with selling your home. Below is a list of reasons explaining why the holidays are a great time to put your home on the market:

  1. While there may be less buyers out there, people who look for a home during the holidays are serious. They are ready to buy.Holiday Money

  2. There are fewer homes for buyers to look at during the holidays, which means less competition for you. Less competition equals more money.

  3. Your home shows better when it’s decorated for the holidays! Lights on your home and garland on the stairs are a nice touch to give your home that warm feeling of the holidays.

  4. After the holidays, the supply of listings increases substantially, which lowers the demand for your home. More competition equals less money.

  5. Many buyers have more time to look for property during the holidays – as opposed to a normal work week.

  6. You can restrict the showings on your home to the times you want it shown. You can even agree to have ‘blackout dates’ for showings. You remain in control.

  7. You can delay the closing, or even extend occupancy into next year when moving is more convenient. Sell now for more and not have to move until January or February…as opposed to starting the whole process at that time.

 

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Top 5 Tips for Hosting a Stress-Free Thanksgiving!

Thanksgiving can sometimes feel like a holiday for everyone but the host. This year, why not make it fun for everyone? Just follow these helpful tips to prepare you for your most successful, worry free feast!

 

  1. Make a timeline and master list of everything that needs to get done.

Avoid last-minute overload by counting backwards from the time dinner is served and scheduling out prep time and oven time. Map out the timing for what can share the oven, and what can be served at room temperature. Stick to your plans to ensure everything runs smoothly. It may help to set alarms on your phone for really key moments, like putting the turkey in the oven

2.  Make as much ahead as possible.

When you’re planning your menu, look for dishes that can be made the night before. Desserts can easily be made ahead and re-heated. Even if you can’t make a full dish ahead, look for ways to prep the big stuff as much as you can, like toasting nuts or breadcrumbs.

3.  Set the table the night before — and embrace the kids’ table idea!

Set the table the night before, and think through who will sit where. Save yourself from rooting around in your messiest cupboard for the turkey platter in front of guests. And don’t fuss too much over decorations for the table … click here for quick and simple ways to make household items into perfect turkey day centerpieces. Keeping the kids at their own table can give you the opportunity to dress the table with the nice china and not worry about an accident.

4.  Never turn down help.

Most Thanksgiving parties embrace some sort of potluck rule, and that’s the beauty of it. Let friends and family bring appetizers, side dishes, or desserts. You can even buy pre-made items from the grocery store. This will free up your oven a bit and take some of your plate. Also, don’t be ashamed to ask for a hand in the kitchen, and gather a crew to help carry the dishes to the table.

 

5.  Don’t bite.

There may be someone in your family or in your circle that wants to start a heated discussion. Don’t take the bait just because that someone brings a hot topic up at the dinner table. The best way to keep everyone happy is to keep the conversation light and neutral. You can’t pick your family as they say, so take every opportunity to enjoy their company and your time together!

We hope you have fun in your preparations for your Thanksgiving party. Remember to relax and enjoy it! Maybe even find a moment in the chaos to remind yourself to be grateful for the opportunity to host your loved ones on this special day.

We wish you a Happy Thanksgiving!

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Will Your Will Be Enough?

Congratulations, you have taken the big leap and have purchased a home! Now that you own a home, have you thought about protecting your assets? Is having a WILL good enough?

When one dies with assets to his/her name over $150,000, his/her estate goes through Probate Court – and that happens whether or not he/she left a Will. The only instance when a decedent’s estate (that exceeds the probate threshold of $150,000) stays out of Probate Court is if the assets are titled in a Trust. For purposes of meeting the $150,000 threshold, the probate court looks at GROSS, and not NET value of the Estate.

For that reason, your new home–which you just added to your estate–most definitely pushed your assets above the probate threshold of $150,000. Therefore it would be wise to set up a Trust and transfer your home into Trust to prevent it from undergoing probate.

Even if spouses take title to their home jointly, that only protects the surviving spouse from probate at the first death. At the second death the home (which is now only in the survivor’s name alone) will most likely need to be probated.

Unlike the costs for setting up and administering a Trust, probate costs are much higher. Few people know that the probate fees are set in the Probate Code as a percentage of the gross value of the estate. It costs $46,000 to probate a $1 million dollar estate, $56,000 to probate a $1.5 million dollar estate, $66,000 $2 million dollar estate, and so on. Half of these go to the attorney for the estate, and the other half go to the estate representative. Those should be assets going to your heirs instead.

Protect your assets and your family – save your money for your beneficiaries and consult with an Estate Planner to convey your new home and your other assets in a living Trust.

 

 

 

Disclaimer:  This post is not intended to replace legal advice. It was put together with the assistance and guidance of attorney Maria N. Jonsson. We personally use Maria for our estate planning.

Maria N. Jonsson, Esq. (310) 802-9961, [email protected], www.mariajonssonlaw.com

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