Renovating, repairing or painting a home, child care facility or school containing lead-based paint??
On April 22, 2010, each painter or contractor will be required to be certified in order to do contract painting and renovating of homes that were built before 1978. Federal law will require that contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and follow specific work practices to prevent lead contamination.
Follow this video that is provided from the Realtor website. Click on Renovating,Repairing, or Painting a Home
Are we going to far with some of the certifications? Sure makes a person wonder just how far we need to go and how much the federal government needs to get involved. Your comments for or against would sure be appreciated.
Refer to previous posts for steps 1-4
The fixer house- making the offer. Where is the money made in real estate? In the renovation, in the marketing, in the sale of the property? These things are all important, these things are all a little beyond your control, the one thing you can control is the purchase price. When you are making an offer- and other agents may not want to hear this- you might have to stir things up a bit. If you have the time, and there are not competing offers, don’t be afraid to hold out for a few hundred dollars. You know what the property is worth, you know what your profit will be, you can calculate what a few extra hours of negotiation will bring. A $500 price reduction for 5 hours of work is pretty good pay for most of us. This is real money in your pocket when it’s time to sell.
One strategy is to ask for a dozen things from the seller. Only one of these things may be important to you. The seller will reject the offer, but seeds of doubt are planted. You then make a similar offer without those contingencies, but leave in the important item, such as the price or closing date. You have “softened up” the seller, and they may be more willing to look at the offer.
Once you have an agreed on price, don’t beat on the deal, you’ll want the seller and the agents working with you. If your purchase is contingent on inspections, be clear about what will make or break the deal. A purchase agreement should allow for a buyer to back out in case of “substantial defects”. Define your “substantial defect”- is it a safety issue that makes a house uninhabitable, or an issue that will cost more than, say, $500 to repair. The seller may be unaware of a substantial defect such as a chimney obstruction, and may be willing to repair it.
