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Home Sale Pending? Here’s What You Need to Know

Wednesday, January 19, 2022
by The Hat Team

If you have been out house hunting, you may have noticed some for sale signs with “sale pending” badges on them. What does it mean when a sale is pending? Here is what you need to know about a pending home sale:


A home sale is pending after a seller has accepted an offer and the contract between the seller and the buyer has been signed. 

When the home sale is pending, it’s no longer considered active on the multiple listing service (MLS). The time-frame in which the deal is pending varies depending upon where you live. In some places, it is during the due diligence period when a property is inspected and its public record is checked to be sure there are not any legal issues. In other areas, the pending phase starts after the due diligence phase. Either way, pending home sales are considered a key indicator of market activity.

Due Diligence: In real estate, the period of time known as due diligence is an opportunity for you, the buyer-investor, to receive full disclosure of the facts and conditions of a potential asset prior to completing a transaction with the seller.


Once a sale is pending, the buyer needs to start preparing for the closing.  The best way for the buyer to do this is to make sure the necessary professionals are on hand, including the mortgage lender, title insurance company, Realtor, and inspector. A real estate attorney is also good to have to help complete all legal documentation prior to closing. In most markets, the due diligence period starts once the contract is signed and lasts about 10 days. During this time, the formal application for the loan is submitted to the lender, and appraiser researches the house and area to determine the property’s market value. The attorney will comb through the home’s public documents to make sure there is nothing that could affect sale of the home. This period is also the right time for the buyer to closely examine the details of the house and the transaction to make sure there are no deal breakers.  If both parties are ready to move forward and have agreed to waive the contingencies regarding inspection or appraisal, all that’s left to do is to wait until closing day.

The seller can relax a little more than the buyer while the sale is pending.

After the contract is signed, the seller pretty much just has to wait. The listing agent typically will schedule the inspection, appraisal or any other visits to the property, but the seller might need to be around to allow people in or to be present for the inspection.  However, in some cases, the seller may decide to not be present for any of it. 

It is important to note that once the contract has been signed, the seller cannot back out of the deal, while the buyer is legally allowed to cancel the contract.  But, when negotiation takes place regarding issues found during the due diligence period, the seller can decide what to say yes to.  For example, the seller can choose not to make repairs on things that surfaced during the inspection, or they can refuse to accept a lower price if the property appraises for lower than the sale price. The whole deal can fall apart if the negotiation does not go well, so it’s vital to have a Realtor who will help you through the process whether you are buying or selling.


The last step during the pending sale period is for the seller to move out of the home and leave it in good condition. It is a good idea to leave the home as clean as possible. The buyers will do a final walk-through a couple of days prior to closing. If the closing goes smoothly, the seller will finally be able to slap that sold sticker on the “For Sale” sign!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information.

Photo Credits: realtor.com, inc.com, usatoday.com

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New Year’s Resolutions: Home Improvement Edition

Wednesday, January 12, 2022
by The Hat Team

The new year is here, and for many of us that means we are setting goals for ourselves…things we want to do and achieve in 2022. If you are a homeowner, you may want to add some home improvements to list. Here are some small home improvements you should consider making in 2022:

  1. Update your kitchen.  We are talking a simple update; not some huge undertaking. You might be surprised at how different your kitchen will look with just a small change. Something like painting your cabinets or adding a new backsplash can really brighten up the room and give it a modern feel.
  2. Beautify your walkway with bricks or pavers.  Plain concrete is boring…and not very pretty. But you don’t have to replace it. You can simply embellish it by adding stone, clay or concrete pavers along the sides. If that feels like too much to take on, giving your walkway and/or driveway a good power wash can make them look brand new!
  3. Do a minor bathroom remodel.  It may sound like a big job, but something as simple as replacing the bathroom mirror and faucet can give your bathroom a whole new look. Want to take it further?  Consider replacing the toilet if yours is old and maybe switch out the shower head for a more luxurious shower experience.
  4. Upgrade your flooring.  Do you have old, worn carpet in your home?  Now is the time to remove it and replace it with hardwood flooring. If hardwood is out of your budget, consider an alternative like laminate flooring that looks like wood. Laminate is less expensive, but very durable and fade resistant. You can also save quite a bit of money by installing it yourself.
  5. Update a room (or two, or more) with a fresh coat of paint.  It is amazing how different a room can feel if you paint it a different color. After you paint you can rearrange the room to your liking and add accent pieces (like throws and pillows) to complement the new wall color.

Just remember, small home improvements can make a big difference in your home without breaking the bank!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information.

Photo Credits: kitchenmagic.com, familyhandyman.com, homeguide.com, pinterest.com, buildwith5th.com

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3591 Bankhead Ave: Stunning Split-Level Montgomery AL Masterpiece!

Wednesday, January 12, 2022
by The Hat Team

3591 Bankhead Avenue, Montgomery, AL  36111

MLS# 508078

4 Bedrooms | 3 Full Baths | 3,162 square feet | Edgewood

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This stunning split-level masterpiece was designed by noted architect Betty Robinson specifically for the Marks family. This Midtown Montgomery home’s exterior is planed cypress and the grounds flourish with mature trees and heirloom shrubs. Entertain in grand style on the main level consisting of an expansive living room bathed in light by two story windows and featuring a real wood-burning masonry fireplace. Dinner parties will be extra special in the dining room overlooking the rear patio and spacious rear lawn. Upper level contains master bedroom and bath, plus two more guest bedrooms and a recently updated guest/hall bath. Balcony off master and front guest bedroom offers sweeping views of the property and is the perfect spot for morning coffee or a nightcap. Lower level has den/family room with decorative fireplace, built in bookshelves, and another large guest bedroom/bath. This two-owner home has been lovingly maintained and thoughtfully updated over the years and awaits a new family to continue memory-making and living at its best!

Marketed by Montgomery AL Realtor, Billy Young, Sandra Nickel Hat Team

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How to Avoid Home Sale Sabotage

Wednesday, January 5, 2022
by The Hat Team

If you are thinking about selling your house this year, now is the time to start preparing to put it on the market. While cleaning it up, doing small renovations and making it look as enticing as possible are all very important steps, there is a lot more you need to know to successfully sell your home for the best possible price.

Don’t sabotage your home sale by neglecting to do the following:

  • Finding an experienced professional Realtor.  Selling a home can be a stressful, complicated process. It will pay off to have a professional Realtor like Sandra Nickel on your side. Take advantage of her extensive expertise and market knowledge and get the best possible price for you home!
  • Pricing your home right. If you overprice your home, it might sit on the market for months and become a stale listing. Most buyers will have Realtors who will keep them from bidding on a home that has an inflated price that is more than what it will likely appraise for.  And even if a buyer is willing to pay the high price, the mortgage company will send an appraiser and put an end to the deal. So, unless your buyer is paying with cash, they will not be able to obtain a mortgage for the inflated price. Let your Realtor assist you in pricing your home right!
     
  • Making necessary repairs prior to sale. Potential buyers are going to be turned off if your home looks like it has not been taken care of. In addition, they will probably wonder what else is wrong that they can’t see. By making necessary repairs and presenting your home at its best, you will more likely sell faster and for a better price.
     
  • Sprucing up your landscaping. The outside of your home is the first thing potential buyers see and it is vital that it makes a good impression. If your flower beds are full of weeds, the grass hasn’t been well maintained, and there is debris in the yard, buyers might not want to even go inside to see the house. It is not necessary to do anything fancy…simply clean up the yard, plant some pretty flowers and make it appealing so buyers will want to see more.
  • Taking your personal feelings out of the negotiation process. Allow your Realtor to guide you through the negotiation process.  Remember that it is not a competition. You want to sell; the buyer wants to buy. Leave your emotions at home and don’t let the closing fall apart over some small issue.

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Photo credits: blog.rismedia.com, activerain.com, gocleanr.com

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Lush Royal Crest Drive Home Site: Picture Perfect Lot in Hillman Heights!

Monday, January 3, 2022
by The Hat Team

Lush Royal Crest Drive Home Site, Montgomery, AL  36109

MLS# 436476

0.86 Acres / Hillman Heights

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It's said that people want things that are hard to find. Things to make their lives the way they wish they were. Here's just the thing to make your life the way you wish it was: an existence surrounded by tall trees and good neighbors...but not too close. A home with enough space for everyone and everything, but not some house that thumps its chest and shows off. A home that's not only a home, but the home of your dreams. And it can be yours here and now! So make it happen! Beautiful lot in Midtown Montgomery! 

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3933 Hickory Dr: Lovely Home in the Desirable Dalriada Neighborhood!

Tuesday, December 21, 2021
by The Hat Team

3933 Hickory Drive, Montgomery, AL  36109

MLS# 507365

3 bedrooms | 2 baths | 2,262 square feet | Dalriada

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Lovely 3 bedroom, 2 bath move in ready home in desirable Dalriada. Nestled in the heart of this great neighborhood amongst the beautiful oak trees. Original crown molding throughout the house as well as hardwood floors. Carpet covers the left wing of the house and tile dominates the kitchen and breakfast nook areas. Living room has a burning gas fireplace and den area has a wood burning fireplace, perfect for those cold winter nights coming in January. Master bedroom has walk in closest with a bathroom that boasts double vanities, garden tub and separate shower. On the right side of the home is the laundry room which is very spacious. The breakfast nook is as cute as can be with good natural lighting and open views to the backyard for that morning coffee. The kitchen was updated less than 10 years ago and has granite countertops and stainless-steel appliances with ample room for cooking. The backyard is large and spacious and has two storage sheds and a playset. Breathtakingly beautiful almost half acre lot! HVAC system is 5-ton Trane and less than 4 years old, security system with cameras, and multiple parking spots on driveway. Within walking distance to the shops and restaurants which include SOL, Shane's Ribshack, The Wharf, Publix and more! Call me or your favorite realtor today to view!

Marketed by Montgomery AL Realtor, Brennan Parker, Sandra Nickel Hat Team!

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2005 N Country Club Dr: Start Your Own School!

Thursday, December 9, 2021
by The Hat Team

2005 N Country Club Drive, Montgomery, AL  36106

MLS# 506595

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Here is your Midtown Montgomery opportunity of starting your own school on a quiet cul-de-sac! This campus is literally the perfect blend of old and new with the Admin Building being a Postbellum house converted into a lovely reception area, conference room, 3 offices downstairs, full kitchen, and 3 large offices upstairs. The newer Staff Development Building transformed into a training room, a huge meeting room, a large office with cubicles, a smaller office, and a full kitchen. The Classroom building has over 22 large classrooms, several more offices and a cafeteria with a commercial kitchen. Classroom furniture included.

View the Floor Plans here! 

Marketed by Montgomery AL Realtor, Lauren Keen, Sandra Nickel Hat Team!

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5 Surprising Things That Will Raise Your Home’s Value

Wednesday, December 8, 2021
by The Hat Team

Owning a home is likely the largest financial investment many will make, so whether you are buying or selling a home, it is important to think about resale value. With a little research, you will find that there are some things that will get you a great return on investment and there are others that will not.

When selling your home, you may want to make some improvements that will make it more appealing to buyers, ensuring a more profitable sale. But it is when you are searching for a home to buy that you can consider options that will give you desirable resale value in the future. Here are 5 surprising things that will raise your home’s value:

  1. LOTS OF TREES – While a brand-new house in a recently established community has it’s perks, what it often lacks is a proximity to mature trees. Large, well-rooted trees found in older neighborhoods, not only make for a lovely landscape, they also provide shade. They add beauty and they save energy, while also increasing your home value.
     
  2. GOOD SCHOOL SYSTEM – It may not seem so unexpected that a home in a good school district would have increased value. But sometimes people who do not have children do not think about this. Even you if you never intend to have children, you should keep in mind that many buyers will be highly motivated to purchase a home based on the quality of the area’s school system. For the purpose of resale value, it would be smart to invest in a home in an area with desirable schools.
  3. SHOPPING NEARBY – People like convenience, so if a house is in close proximity to a shopping area with a supermarket, it will likely increase its value. This is especially true if it is close to higher-end stores like Trader Joe’s or Whole Foods. Per Zillow, homes near these grocery stores may appreciate in value up to 40% more quickly than other homes.
  4. OUTDOOR RECREATION AREAS – Living close to a park, walking trails, or other recreation areas can increase your home’s value. Things like dog parks, tennis courts, golf courses, and playgrounds are appealing to people who enjoy staying active. They will be willing to spend a little more to live close to areas where they can enjoy outdoor activities.
  5. SEPARATE LIVING SPACE – Whether you have a mother-in-law suite, an apartment, or a carriage house, having a separate living space will add to the value of your home. Unlike the other items listed here, this is something you can add to a home after moving in. But while looking for a home, you may want to keep an eye out for one that already has one.  Not only will it boost resale value, but it will give you the opportunity to earn rental income (depending upon the laws in your area) while living in the house.

When buying a home it is important to find a place that feels right for you, but unless you plan to stay there forever, it will benefit you to think about resale value as well!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Photo Credits: homesforsaleinmontgomeryalabama.com, visitingmontgomery.com, riverregiontrails.org, homelight.com

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1100 Woodward Ave: Great Home or Investment Opportunity with Loads of Potential!

Tuesday, December 7, 2021
by The Hat Team

1100 Woodward Avenue, Montgomery, AL  36106

MLS# 505861

2 bedrooms | 2 baths | 1,670 square feet | Cloverdale

Great home to make your own or for an investment opportunity! LOADS OF POTENTIAL! Located in the heart of Cloverdale within walking distance to everything this great community has to offer. Texas style bathroom in master is extremely spacious. Kitchen has been updated from original bones. Open floor plan. Great front porch to sit outside on throughout the year. NEW HVAC in 2017 and NEW ROOF IN 2021. TLC will go a long way with this home. Call me or your favorite realtor today to see!

Marketed by Montgomery AL Realtor, Brennan Park, Sandra Nickel Hat Team! 

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Things You SHOULD NOT DO When Trying to Get a Home Loan

Wednesday, December 1, 2021
by The Hat Team

Trust me when I say that lenders WANT to help you get a loan for your mortgage, but sometimes clients make impulsive decisions that can derail their chances of getting a mortgage loan approval.

Here are ten things you SHOULD NOT DO if your goal is to get approved for a mortgage loan:

  1. DO NOT buy a car (or boat, RV, four-wheeler etc.) If you are trying to buy a home, now is NOT the time to buy a new vehicle of any kind.
     
  2. DO NOT be late on credit card payments. In fact, now is a good time to limit your credit card use as much as possible. You definitely don’t want to hurt your credit report by being late on payments.
     
  3. DO NOT quit or change jobs or become self-employed. Lenders want to see steady employment and income consistency. Once you get into your new address, then you can change jobs.
  4. DO NOT apply for credit. If you’re shopping in a store and they offer a credit card application for a discount on your purchase, JUST SAY NO. Any credit application means a credit inquiry, and that will impact your credit score. Lenders will be looking at your credit report just before closing, and any new activity may result in delays.
     
  5. DO NOT purchase big-ticket items. Just like with vehicles, it is prudent for you to wait until after you are in your new home to buy expensive items like furniture or appliances.
     
  6. DO NOT spend your savings. The last thing you want to do is to get your loan approved, but then not have the money you set aside for your down payment!  Leave your savings intact!
     
  7. DO NOT make unusually large deposits into your accounts. If you suddenly come into a large amount of money, that will raise flags to your lender and will require an explanation. In some cases, you can use gifted funds to purchase a home, but you need to talk to your mortgage banker about how that money needs to be documented.
     
  8. DO NOT hide things on your loan application. Things like owed back taxes, liens or other liabilities WILL be discovered. Be honest from the start so there are no surprises (and disappointments) down the road.
  9. DO NOT co-sign a loan for someone else. Co-signing on a loan for someone else can lower your credit score while also raising your debt-to-income ratio. This, in turn, may affect your chances of qualifying for a mortgage loan.
     
  10. DO NOT open, close, or change bank accounts. Even if you are moving to a new state, don’t close your bank accounts or change them until your home loan has closed. If you have new bank account activity, it will require a paper trail and may delay your loan process.

Mortgage bankers are on your side. They want you to get a home loan as much as you want to get one. Be sure to avoid these “DO NOTS” to help the process go as smoothly as possible!

If you are in the market to buy or sell a home (or both), let me, Sandra Nickel, and my Hat Team of Professionals assist you with all your real estate needs! Call us today at 334-834-1500 and check out https://www.homesforsaleinmontgomeryalabama.com for more information!

Photo credits: loans.usnews.com, thebalance.com, bakersfieldcreditrepair.com, vergecampus.com

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