Bump Clause

You probably haven't heard the term bump clause unless you are in the real estate business or have sold/purchased a property with a contingency.  But you know, that's OK!  That's why we are here.

Now if you are unsure as to what a contingency is then look back one post and read all about it.  Once you know what a contingency is, the term "bump clause" makes a lot more sense.  The "bump clause" is part of your contract.  If you are involved in a real estate deal that has a contingency then this is a section you will want to pay close attention to.  If you are the buyer, the clause will allow someone who has no contingency to essentially move you out of the way if the contingency isn't removed in the allowed time.  This can easily be viewed as a positive for the seller so they are not sitting and waiting on a deal that may or may not actually happen.

So say you own a home and need to move areas or need a bigger place.  Well, you will be buying and selling.  You may find the perfect home 3 days later and not have even placed your own home on the market.  This means there is a chance you will be submitting and offer with a contingency and more than likely there will be a bump clause.  Say the bump clause states that you will have 24 hours to remove your contingency if a non contingent offer is submitted.  Well, one week later another person submits and offer to the same home but without the contingency.  Your agent will notify you and then there will be a decision to make.

Contingency? What's that?

So you're preparing to buy or sell.  That's great news! Hopefully you have been reading this blog for all of the best advice (as well as using your Nothnagle agent)!  As you go through the process you will hear many many terms.  Some old and some new.  One that you may hear will be "contingency."  But what is it?  That's why we are here!

The simplest way to put it; a contingency is when you make an offer but under a condition.  You know, like you did when you were younger (or even now too!)  "Sure, I would love to come over!  That is as long as you are serving ice cream!"

There are many ways that an offer can be contingent.  You may agree with an offer as long as your attorney says it's ok.  The offer may be accepted as long as you can show them you are pre-approved in the next couple of days.  We would like to buy your home as long as the home inspector says everything looks great.  A big one is the, "we accept your offer but can not close until 60 days after we sell our house (or find a house to buy...depending on if it's the buyer or seller).

So contingencies can be helpful to both sides.  Of course, your Nothnagle REALTOR will always be the best source to guide you through everything!

Maintain your AC

As we get closer and closer to summer and we all start turning on our central AC or installing our window units you may be wondering..."Is there something I should be doing  to make sure my AC will last and not break down on a 95 degree day?"  Although we can not guarantee that it won't break down, we can throw some tips your way to help you stay cool and keep your AC going!

If your unit is a through the wall or in the window one of the first things you will want to check will be the filter.  A dirty filter can make the air flow restricted, keeping you warmer than what you'd like.  With some units you can simply rinse off your filter while others you'll need to get a new one.  Use your vacuum attachment to keep the coils clean and if you have any bent fins, try and bend them back.  For that they actually make a specially designed brush instead of using a screw driver which can cause more damage than you had in the first place.  There are also kits you can buy to seal the area around a window unit to make sure no air leaks out.

When it comes to a central air unit there are some things that you can check.  Once again, check any filters to make sure the air flow is at it's highest efficiency and that the air is clean.  Be sure to keep the coils clean and during the summer months when you are using the AC, keep plants around 2-3 feet away from the unit to ensure proper air flow.  If you can, check your duct work.  Around 30% of your heat and air can be lost in poorly insulated duct work.  Using a professional to complete a summer maintenance check is also a great idea.  They can open the unit to clean and check everything for you.  We have some great companies as part of our Home Services department.

Has anyone tried these tips or have any others?  Feel free to share!

Moving to Western New York?

Have you ever relocated for a job, family, school or any reason at all?  Then we are sure you know how hard it is to know exactly what you are looking for without having ever lived (or even visited in some cases) in that area..  And if you have never relocated, you may not know what to expect or where to start!  We here at Nothnagle REALTORS are here to help.

It is always a great first step to create your own "wish list" that includes things you like about your current home along with things you want in your new home. There may be things such as: four bedrooms, a master bath, gas oven, and an in ground pool. It may also be best to break the list into "must haves" and
"would likes" so that you know where you are willing to compromise.

Your next step would be finding a REALTOR that suits your needs and can best assist you for what you are looking for.  Nothnagle can help you with that.  We have a whole relocation team that specializes in getting you matched with an agent to best assist you.  These agents have worked with people moving into the area before so they know what to expect.  They know their areas and can answer any questions for you that you may have about schools, things to do, taxes, and everything in-between.

So don't hesitate!  Contact one of our Nothnagle Realtors Relocation specialists today!

Tips for an Open House

Getting ready to have your open house and want to give it the best chance possible to look great to all of those potential buyers (and occasional curious neighbor) that will walk through?  Here are some quick and easy things that you can do to help you and your agent out!

• Clean it up - Whether you are doing it yourself or hiring someone from our Home Services department; cleaning up is the number one recommendation.  Removing clutter, taking out trash, dusting...anything you can think of to make your home look cleaner, more presentable, and showing pride in ownership.
• Let there be light - Natural light is a great asset to a home.  Opening blinds and curtains allows for the light to flow in showing the true size of the room and giving a great "welcome home" feeling.
• Check your curb appeal - It is the first thing that everyone will see and we all have heard the saying that you only have one chance to make a first impression...so why not make it a great impression?  Sweeping the porch, deck, and walkways.  Cleaning debris in the yard.  Every little bit can help!
• Find something to do - You may find that your agent will recommend that you not be around when you are having in open house.  While there are many reasons for this that can vary from agent to agent; one is to make the potential buyer feel more comfortable looking around.  Also, if you have pets either make sure they are properly secured or are with you at the time.  Just because you may love animals doesn't mean everyone else does!