Whether you’re planning to sell your home in the next few months or just studying up for that eventuality, there’s no time like now to prepare. If buying a house seems complicated, selling involves even more responsibilities and expenses.
Burbank Retrofit Upon Resale Requirement
- If you are selling your Burbank home or business property, effective for all new sales after August 23, 2010, both the seller and the buyer of the property will need to certify that the property meets or exceeds certain water use standards.
- Compliance is the responsibility of the seller. All Burbank property sellers will need to certify compliance with Burbank Ordinance No. 3786 through the Retrofit Upon Resale Certificate of Compliance. There are no fees associated with filing this Certificate. Please be aware that compliance with this Ordinance is a condition of escrow; sale of the Burbank property is contingent upon completing and filing this Certificate of Compliance.
In addition to retrofit responsibilities, sellers should also keep in mind:
- Buyers have keen eyes and are looking for excuses to offer a little less money. The leaky faucet or the door that doesn’t close all the way may cost you more in an offer than it would cost to just get it fixed by a handyman.
- Curb appeal is still important. First impressions start with a property’s “curb appeal,” so make your home offer a good first impression.
- Inside, the biggest return on your investment continues to be improvements to the kitchen, followed closely by improvements to the master bedroom and bathroom.
- Don’t paint rooms your favorite color, consider painting and decorating the rooms in neutral tones, the goal is to appeal to the greatest number of potential buyers.
- De-clutter and downsize your “stuff” now; a home shows better if there is room to appreciate the bone structure and to walk around in a group.
Finally, in preparation, pull together important paperwork including:
- Ask your mortgage lender for an estimate of your current loan balance and any pre-payment penalty and charges. Give them a heads-up. That way you can fine-tune the terms of the offer to make the most sense with your loan in mind.
- Assessments or Easements: if there’s a tax assessment or easement on your property, documents stating so will have to be included in the purchase contract.
- Property Taxes paid proof.
- Utilities: it is nice if you can offer the new buyer a copy of your current utility bills and service providers.
- Figure out if you want to keep any of the fixtures that would normally transfer to a buyer. The televisions, a chandelier, even a special faucet. Buyers don’t like last minute surprises and it is always better to be up front.
