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10 Things to Put in Storage

Sometimes there are things that prospective home buyers shouldn’t see because they are too personal, too controversial, too valuable or take up too much room.

We recommend that sellers should start removing and storing some things the moment they decide to put the house on the market, so these items won’t show up in listing photos as something that potential buyers could believe comes with the house, or be a distraction to them.

Things you should remove or store before photos and showings start:

  1. If a room has a lot of furniture, put most in storage so the room will look bigger.
  2. The moose head. If there is any taxidermy, it could upset people who love animals.
  3. Religious, political or sports related items. Someone may take a dislike to the house because it’s the ā€˜wrong’ team.
  4. Family photos, urns and memorabilia. The absence of personal mementos makes it easier for buyers to imagine themselves living there.Ā 
  5. Boats, RVs and broken-down vehicles. Removing these will make the yard look cleaner, larger, and give viewers more room to park.
  6. The chandelier, ceiling fan or any other fixtures you plan to take with you, so buyers won’t expect it as part of the purchase. This includes small items such as cabinetry fixtures, or outdoor features, which are often forgotten as owners prepare the house to show. If major appliances will not be included and can be stored without major inconvenience, get them out of the way, too.
  7. Firearms (even inside a nightstand), swords, or other weapons. Make sure these are all locked up in a safe.Ā 
  8. Valuables should be put in a safe.Ā Ā 
  9. Antique furniture or artifacts that could get damaged.
  10. Garage clutter. It’s got to go for four reasons: curb appeal, more space, to be able to see the condition of the walls and floor, and often because the electrical panel is located there. It needs to be free of clutter so an inspector can check it.Ā 

So what about something like a barber chair? That one is debatable. For a buyer who is viewing many houses at once, something as unique as a barber chair in the house would be a memorable standout. For something like this, please ask your agent for recommendations.

When is a Bridge Loan a Good Idea?

A bridge loan is described as a short term loan used to secure a more permanent loan, or to perhaps meet some current obligation by providing immediate cash. They must be backed by some sort of collateral. Typically they have a somewhat higher interest rate, and can last for no more than a year. They are used to bridge a gap in some way.

One of the best uses for a bridge loan is for buyers who haven’t yet sold their existing home, but need to leverage their illiquid equity and turn it into a ā€˜liquid’ down payment for the next home.

According to mortgage banker Mark Milam, founder and president of Highland Mortgage, today’s market is so extremely competitive that making only a contingent offer on a new home often gets outbid by someone who has the capital ready to back it up. Having a bridge loan provides funds to make an immediate, competitive offer. However, the buyer must be able to qualify with the combined debt of both the bridge loan and the current mortgage.

Bridge loans are not meant to be long term instruments, Milam adds. Usually set for about six months, this type of loan uses the current home as collateral.Ā 

A bridge loan may be a good choice for a seller with a home that is almost guaranteed to sell quickly, he says. However, if the seller’s plan is to rent out the existing home, it would be better to get a traditional equity line of credit.Ā 

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Weslee Knapp, Principle Owner and Broker Keller, Knapp Realty. Information believed accurate but not warranted. Equal Housing Opportunity. If your home is currently listed, this is not a solicitation. Lenders: Mark Milam for Highland Mortgage NMLS# 1969375 1746 Noble Dr NE, Atlanta, GA 30306 (www.nmlsconsumeraccess.org), Jason Conn for US Bank, NMLS# 210515 2 Concourse Pkwy, NE STE 250 Atlanta, GA 30328 (www.nmlasconsumeraccess.org)

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