One of the most confusing examples of jargon that people encounter when buying or selling a home is NRTC. So what does this actually mean?
Literally NRTC means Not Represented To Code. This is used most often when describing a wood burning or gas fireplace or a wood stove.
The Buffalo/Niagara Board of Realtors and the Bar Association decided many years ago that they would always utilize this phrase as boiler plate in a contract of sale because even if a fireplace is safe to use, it could potentially be out of compliance with the current building code in a particular township. For instance, the firebox dimensions have changed over the years.
Fireplaces that are checked and maintained regularly may actually be out of conformity with current building code. Although these are totally safe to use and documented as such, they do not comply with code.
To protect sellers and realtors, this NRTC phrase came into use nearly three decades ago.
Selling A Home? There are countless memories made in a home which can result in a flood of emotions when it comes time to sell the homestead. And sometimes, sellers might even feel a bit of remorse. That’s perfectly natural! These are common feelings that lessen with time and typically go away completely once you’ve successfully moved into your new living situation.
If you’re wondering how to overcome the emotional hurdles of selling a home, we have some advice from the experts:
Try not to worry about memories left behind. Instead, focus on new memories about to be made!
Don’t feel guilty. The great memories you’ve made will never completely fade away. They will always be a part of your memories, your conversations and who you are!
Remember that change can be good! You just need to overcome that natural fear of change that everyone experiences at one time or another.
Moving can be one of life’s biggest stresses, but once you’ve had time to take a deep breath and re-evaluate your situation, I’m sure you’ll find comfort knowing that you’ve made all the right decisions to get you to where you are today. Rather than focusing on the past, focus on your new home, yourself and your future. In other words, think positive thoughts!
If the dust has settled and you still find yourself having seller’s remorse and/or feelings of depression, consider making an appointment with a therapist who can help you leave the stress behind and help you move forward to create a lifetime of new memories. For more information on making your move as stress-free as possible, please contact The Olear Team today!
You did it! You’ve made your way through the entire real estate transaction right up to the actual closing. While you’re almost at the finish line, there are still some obstacles to overcome to ensure successful completion of your transaction. Following are some tips to avoid a delay in closing.
Make sure you’ve met all contingencies indicated in the sales contract. Your real estate agent should be all over this one. If there were items noticed during the final inspection that need your attention, you have to resolve all issues before closing or risk a delay until they are successfully addressed.
Move all of your items out of the home, unless something was negotiated and noted in the sales contact. If it’s not in the contract, then you need to take it with you!
Once all of your items have been removed, make sure the house is cleaned. Broom cleaning is the minimum. Consider this: Leave the house in the condition you would expect if you were moving in.
Rather than dealing with checks, have funds wired directly into your bank account. If safer, quicker and less likely to result in complications at closing.
At closing, be certain that you see proof that your mortgage and any other debts — such as a second mortgage or a home equity line of credit — are completely paid off.
Make sure all paperwork is in order before arriving at closing. Your Realtor and real estate attorney should be on top of their game when it comes to all the necessary paperwork.
We hope these tips to avoid a delay in closing will help make your next real estate transaction as smooth as possible. For additional guidance and information, please contact The Olear Team today!
Selling a house looks easy, right? You just put a sign in the front yard and wait for interest to build and offers to come rolling in.
Of course, it’s much more difficult than that, yet some people still insist on trying the “for sale by owner” route. In the end, most regret that decision and feel that they would have been better off working with an experienced real estate agent at their side through what can be a long and complicated process. Following are some reasons why a Realtor can make your life much easier.
Experience. From preparing your house for showing to staging the interior, hosting open house events and negotiating a deal, your real estate agent has likely gone through this process multiple times and knows the ropes. Plus, they have professional connections throughout the industry that can make the entire process much easier. Look at it this way … let’s say your automotive knowledge is limited to the ability to drive a car. When something goes wrong with a major component of the vehicle, are you going to fix it yourself or go to an expert for assistance?
Paperwork. Oh, there’s lots of it, and paperwork that is overlooked or filed incorrectly could easily delay or derail a transaction. Again, leave the heavy work to an experienced Realtor who is trained to make certain that all the I’s are dotted and T’s are crossed.
More potential buyers. A good Realtor has spent years building connections and relationships within the industry and the community, and knows how to get the word out regarding a new house on the market. They know what works, and what doesn’t … and they won’t waste your time or theirs on strategies that don’t bring results.
Pricing. How will you know how to price your house? Have you reviewed all the comparable properties in similar neighborhoods? Over- or under-pricing your home will have serious implications upon your ability to sell for the best price. You can’t afford to cut corners here.
Time investment. Selling a house is a full-time job. Do you really want to take time away from your job and/or family to completely oversee such a large financial transaction? If other commitments have the potential to distract you from the home-selling process, important details could very well slip through the cracks.
So what is a home seller to do. Our advice would be to interview several potential Realtors and ask for references. For more information, please contact The Olear Team today!