Your Guide to
BUYING &
SELLING A HOME
in Wake County
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
randy@LoveNC.com
INTRODUCTION
Real Estate transactions are often
Past clients have enjoyed the superior
complicated, always involving more work
service that Randy Scherr offers and have
than anticipated and can be very
reaped the reward that comes through
rewarding if you find an exceptional
research, proper staging, planning and
agent to represent you.
excellent negotiation skills.
It is The Wolrborsky Group in the
I am dedicated to helping make your
Allen Tate Company's sincere goal to
next move your best to date and will
meet our client's needs whether that be
strive for you to become one of our
buying or selling at the best price in the
raving fans. Thank you for considering
shortest amount of time, and with the
using me to market your home.
least amount of inconvenience.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
1
WHAT’S IN A NAME?
“The creativity, marketing
THE WOLBORSKY GROUP
knowledge and ability to deal
What we are about
successfully with the public have
My client's real property solutions are
served him well as a real estate
our business. The Wolborsky Group and
agent. Randy and I have been
Randy Scherr are committed to fulfilling
your every need during the buying
involved in half-a-dozen real
and/or selling process. We will treat you
estate transactions. His endless
with the care that we would like to be
treated with. When selling your home, it
energy, attention to detail, and
becomes like our own, as we market it to
problem solving skills have
the highest level possible. If buying a
continuously impressed me and I
home, your search criteria becomes our
mission to find the place you have been
hope to do business with him for
dreaming of. We promise to demonstrate
years to come.”
service above and beyond your
expectations.
-Richard Paton, Paton & Associates,
Landscape Architect
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
2
REAL ESTATE AGENTS ARE NOT ALL THE SAME...
RANDY SCHERR, ABR, IDSA, SRES
PROFESSIONAL QUALIFICATIONS
collector. Service to the community has
Randy has been involved in the real
always been important to Randy. The
estate industry since 1989. He has been an
following organizations have been the
agent since that time, served on
focus of his volunteerism in the last 20
numerous boards and worked at a
years:
corporate level as Director of Career
Development for Better Homes and
Habitat for Humanity -­‐ Tucson, AZ & Raleigh, NC
Gardens Real Estate (BH&G). His list of
Hospice
awards and recognition speak for
PER Hospital Rapid React Team
themselves.
Make-­A-­Wish Foundation
Toys for Tots
Joined The Wolborsky Group -The Allen Tate
Historic Preservation Society
Company - 2012
Sideline Scholarships founder for Area High
Established Heart’s Delight Realty
School Seniors
2005-2009
NC Wildlife Rehabilitation
Executive Broker
Long Realty, Tucson 2002-2004
Special Olympics
Director of Career Development
SPCA
Better Homes & Garden 2000-2001
HOG
Nationally Rated Top 1%
Rolling Thunder -­‐ Chapter 4 North Carolina
1992-1999
Central Carolina Orphanage of North Carolina
Sales Associate of the Year
1994-1999
Board of Directors, Raleigh Board of Realtors
2006, 1996-1999
Special Recognition Award Community Service
1994, 1999
Community Service Award
Raleigh Board of Realtors 1997, 1999
National Speaker
Client Management 1994
PERSONAL PROFILE
Randy's interests are as wide ranging
as the properties he markets. He is an
accomplished artist, working in glass,
stone, photography and oil. He is an avid
motorcycle enthusiast, hiker and art
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
3
EDUCATION
Randy has a B.S. degree in Design and
Marketing from the University of
Cincinnati. Since license activation in
1988 Randy has earned his ABR and
SRES plus has been an active participant
in continuing education. He also
maintains his association with the
Industrial Designers Society of America.
COMMUNICATION
On time communication is critical in
real estate. We are committed to being
available to our clients, keeping you
informed of every detail and answering
any questions you may have when they
arise. In order to facilitate this we have
established several methods for
providing the highest level of
communication.
Much of our communication is via the
internet and I will send you tailor made
searches daily to monthly, whatever it
takes to find your home or get your home
sold. I am vigilant about returning calls in
a timely manner whenever possible, and
will always try to return all calls the day
received.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
4
THE HOME SELLING PROCESS
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
5
THE PROCESS OF SELLING YOUR HOME WITH
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
THANK YOU FOR CONSIDERING USING
“I tried to sell my house for
RANDY SCHERR TO MARKET YOUR HOME
months using every technique
Selling a home can be very stressful
possible to no avail. Finally, I
and chaotic. I am here to help make the
listed my house with Randy
process as smooth and stress free as
possible. One way that will happen is if
Scherr. Much to my surprise, we
we work as a team from the beginning.
closed in less than a month for the
We need to be honest along every step of
the way and work hard to make your
highest price per square foot ever
home stand out from the rest.
paid in my neighborhood.
The marvels of technology are
Randy's knowledge of the
allowing us to deliver your home to
anyone looking for property in the
market, his eye for detail and his
Triangle, 24 hours of everyday. We
professionalism made my
showcase every home we list on
http://www.realtor.com/, w.realtor.com, www.
experience the most pleasant
properly prepare all MLS entries and
ever.”
system features.
-Charles Elam,
The methods we use to market your
Elam & Associates, Land Planning
home assure penetration to potential
buyers and to buyers agents. Just like the
biggest of firms, we offer full IDX
solutions for people anywhere on earth
via the internet to see your home and
virtually all the homes in the Triangle
MLS system. It really is amazing. We
promise a fresh look and compelling
marketing to get your home sold.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
6
PREPARATION & STAGING
“The most positive aspect of the
We have always heard that the three
experience was Randy himself. I
most important aspects of real estate are
“Location, Location, Location.” While
can honestly say he is the best at
location is very important, there are other
what he does. When we are
extremely important aspects that either
motivate or “turn-off” potential buyers.
ready to sell and buy again he
will be the only one we go to.
CONDITION
The general condition of your home
Randy and his staff are
from curb appeal to the placement of a
wonderful. They took great care
favorite chair in the family room all factor
in on how buyers “see themselves in
and showed an honest interest in
your/their home.” To be able to realize
our future.”
the highest value on your home, it must
-­Chris and Donna Navarre,
look its best while on the market. We will
Verizon & Wachovia
“tour” your entire home with you and
make suggestions that will impact its
perceived condition and desirability. You
will be pleased to know that little
adjustments make a big difference!
PRICING
The seller sets the asking price but the
market determines its sale price. We often
hear, “This is what I need to get from
the sale of our home.” Many times the
price that “we need to get” is much
higher than what can reasonably be
expected.* Additionally, the first 30 days
on the market are possibly the most
critical. That is when the listing will have
the most interest and when the pricing
should be at its best, to attract as many
buyers as possible to the home.
* Careful pricing based on research,
trends and motivation usually will net
sellers more money and in much less time.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
7
PROPER PRICING
Together we will arrive at a price to
We will then determine the
go to market with your home. We will
neighborhood high, low and average
establish your “go to market price”
prices. We will also look at what you paid
utilizing all the data, market trends,
for your home and apply a rule of market
current market conditions, home
appreciation to your property. The
condition and factor in how much time
special features of your home will then be
you have to sell your home.
considered in the pricing after
Randy has a track record for selling
comparison to our market research.
his listings at 99% of asking price. This is
It is important to realize that many
accomplished by setting a proper market
personal improvements are just that and
price at the onset, coupled with a solid
may have little effect on the “value” of
and swift marketing campaign. The
your home, but do enhance your
Wolborsky Group does not list a home
enjoyment of the home. It is important to
and hope to sell it before spending
ask yourself “If I had known that I would
money on advertising. Instead, we hit the
be moving now from this home would I
ground running, priced and ready to
have installed the____________ anyway?”
“make it happen” for you.
If you answered “No” because you
To set a proper market price we must
probably could not get your money back
first look at all the comparables in your
you are probably right. That said we will
neighborhood both on the market and
try to get the highest price we can when
those homes sold in the last six months.
marketing your home.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
8
PREPARATION FOR MARKET
HERE IS WHAT WILL TAKE PLACE
AT OUR OFFICE:
Completing various forms or
obtaining information necessary to
complete a sale
GIS Mapping
Wake Orthography
Property Profile Information and
Verification
Preparing the “Sign”
Home Owner Association
Documentation and Resale
Notification
Central Showing Coordination
Listing Processing
Photographing your home
Staging your home for greatest
appeal to potential buyers
Placing advertising in the selected
media
Listing Input
If this seems complicated, just
relax, this is what you hired us
for and very shortly you will be
on the market and
properly positioned to sell.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
9
ADVERTISING
Just as every home is different so goes
• Listing Websites:
the advertising for every home. We will
http://www.lovenc.com/
tailor make our advertising strategy for
http://www.realtor.com/
each home we list pulling from our “Bag
http://www.phyllisdiditagain.com/
of Tricks.”
http://www.trianglemls.com/
In this section of The Listing Book you
http://www.homesandland.com/
will see some of the various advertising
http://www.trulia.com/
mediums we will be using.
http://www.zillow.com/
http://www.allentate.com/
Here are advertising vehicles that we
http://www.military.com/
regularly utilize:
http://www.homescape.com/
• Newspaper
All in all, over a thousand sites.
Very little, does not work anymore
• Open Houses
• Digital Direct Mailing
• Internet Mapping
More and more
• Homes & Land Magazine
• Postcard Mailings
As appropriate
• Property Brochures
The best we can deliver
• Property Flyers to all area agents
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
10
THE PURPOSE OF FEEDBACK
We encourage email feedback from
“This is the second time we have
the Agent who showed your home:
worked with Randy, the first to
1. To jog the Agent's memory about
the home so that we may be able to
purchase a home and the second to
get a second showing.
sell. Both times he has been quick,
2. To answer any questions or
concerns the Buyer expressed so
efficient and without a doubt
the home will be reconsidered.
looked out for our best interest!
3. To get the impression of the Buyers
or Agents that might help us to
The house sold in less than 24
better market your home.
hours and we got top dollar!
NOTE: Don't expect Agents to give a
full critique of the house. If they showed
15 houses, they honestly may not -
Mike and Dee Fait
-­ PBM Graphics & Marketing
remember it in detail. Also, if an agent
doesn't email, it means the Buyers are not
interested.
WHEN AN AGENT SAYS
THE AGENT MEANS:
“The buyer thought the house was too small.”
The Buyer found larger homes for the same
price.
“They liked the house but bought another
They found other houses that were better
one”
values.
“They didn't like the house, but bought a new
Buyers will pay 10-­‐15% more for a new
house.”
home.
“They didn't like the carpet
The Seller should replace the carpet because
of age or color.
“They thought the yard was too small, they
They found another home with larger size
found another home, the street was too busy,
yard, quieter streets, etc.”
etc.”
“They didn't like the floor plan.”
They didn't like the floor plan.
Price objections are always clothed in different terms.
Sellers Goal: To be the nicest house in the price range!
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
11
UNDERSTANDING THE REAL ESTATE MARKET
“Randy always goes the extra
1. If our house is not being shown, it
usually means the agents think our price
mile- whether it is staying up
is too high for that neighborhood, or a
until 3:00 am to do the extra
tweak may be necessary to improve curb
appeal.
computer searches, or being
honest about the location of the
RECOMMENDATION: A significant
price adjustment or an appropriate
proposed outer loop near the
tweak.
house that looks so good
2. If our house is being shown, but we
now.”
are not getting any offers, it means the
- Don and Sandra Gilbert, IBM
Buyers are finding nicer homes for the
money.
RECOMMENDATION: A moderate
price adjustment.
3. If our house is in the running, but the
Buyers buy something else, or if the
Buyers view the house a second time, but
buy something else, it means we are close.
RECOMMENDATION: A minor price
adjustment or consider correction of a
common factor in feedback.
According to the National Association of
REALTORS, if our house is priced correctly,
we should get one offer for every 10
showings. In a normal market, we should get
1-­2 showings a week.
RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
12
SHOWING ACTIVITY BAR CHART
In today's marketplace, pricing is critical. Depending on your personal time
frame we should price accordingly. In addition, we need to reevaluate our price
after every 10 showings!
!
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RANDY SCHERR & THE WOLBORSKY GROUP
919-272-0191 cell / 919-876-2372 office
13
HOME REPAIR
BEFORE AND AFTER A SALE
order. To test them push the test button.
Before you put your house on the
This turns the power off to the outlet.
market, here are some things you can do
Plug in an appliance and make sure. Press
to improve the presentation of your
the reset button and the appliance should
house. These are items you can do prior
now work. Older houses may not have
to your home being professionally
GFCI's. If you have them, they should
inspected by the buyer-selected house
work.
inspection company.
Almost all houses sold will have an
Toilets - Check for leaks and cracks in
inspection. The typical house inspection
toilet bowls. Make sure they are not loose.
does not cover cosmetics such as clean
carpets and house paint. It will cover the
Extension Cord or Handyman Wiring - If
functionality, safety, and livability of the
you've been inventing your own wiring
house. It is not intrusive (no screwdrivers
out on the patio or in the garage, it can be
in the walls).
a negative issue. If any wiring is exposed
The typical home inspection covers the
it should be in a conduit, a junction box or
exterior, walls, roof, outside equipment,
seal-tight to protect it.
and the interior, windows, kitchen
appliances, bathroom fixtures, etc. It will
A/C Filters - Change them. Dirty air
take an estimated hour for every 1,000
filters affect the performance of the
square feet with a two-hour minimum.
heating/cooling system. Consider having
the unit serviced and cleaned so that it
Assuming your house will be inspected,
will operate properly when tested.
here is a list of recurring items you can
address up front:
Pool - Pool filters and pool light bulbs
should be changed. Check for cracks and
Faucets & Pipes - You may be quite
rust in the pool plaster. Make sure the
willing to live with that dripping or
pipes and filters are not leaking and that
leaking faucet, but don't assume the buyer
gauges work. Ensure that pool lights are
will.
in working order.
Windows - Cracked glass or leaking seals
Hot Water - The hot water should always
on dual pane windows are not acceptable
be on the left side in sinks, tubs and
to most buyers.
showers
Ground Fault Circuit Interrupters
Roof - Any missing shingles or tiles
(GFCI's) - These should be in working
should be replaced.
RANDY SCHERR & THE WOLBORSKY GROUP
14
Doors - They should latch and lock, if a
Also, consider having a house inspection
lock is installed.
at the time you list your house. Pre-
inspected homes typically move faster
Two Additional Points: We see many
from offer to escrow an average of ten
properties and other houses competing
days quicker. With a house inspection
with yours for the buyer's attention and
report in hand, you and your REALTOR
we will consult with you. As you fill out
can determine in advance which items
the seller's property disclosure statement
you'd be willing to address. Plus, you'll
(SPDS), ask us about any issues that come
have a better sense that your price is in
up.
line with the overall condition of your
property.
RANDY SCHERR & THE WOLBORSKY GROUP
15
ALLEN TATE HOME SERVICES
Our clients have the option of utilizing the Allen Tate platform for Home Services.
To get your home in tip-­top condition before you pit
it on the market, call on Allen Tate Home Services.
Home Services provides a one-­‐call center where you are
connected with a choice of service providers for your entire home
repair and maintenance needs.
All service providers’ licenses are verified and providers
must carry $1 million in general liability insurance and
workers compensation. Allen Tate Home Services hold the
insurance certificate as an added insured.
Background checks are conducted on company owners and
business references are checked.
All quotes for service are provided to clients in advance of
work so there are no surprises.
A 95% customer satisfaction rate is required of all service
providers.
Sample of Services We Provide:
Inspection Repairs
Kitchen & Bath Updates
General Contracting
Moving & Storage
Roof Repair & Replacement
Power Washing
Heating & Cooling
Plumbing
Gutter Cleaning
Locksmith Services
Pest Control
Duct Cleaning
Crawl Space & Moisture Issues
Electrical
Pool Maintenance
Handyman Services
All Flooring Sales/Installation
Security System Installation
Blinds and Shutters
Lawn Care
Restoration Services
Home Services • 877-780-6601 • Home.Services@allentate.com
RANDY SCHERR & THE WOLBORSKY GROUP
16
THE LISTING AGREEMENT
AND OFFER TO PURCHASE AND CONTRACT
OUR LISTING AGREEMENT AND
RESIDENTIAL PURCHASE CONTRACT
OTHER IMPORTANT DOCUMENTS
Once an offer is made on your home,
Please place copies of our listing
we will guide you through the
paperwork in this section for your
negotiating process and to the closing of
reference. Please read through this
escrow. Included find examples of:
paperwork carefully and let us know if
you have any questions.
1. Contract
Listing Agreement - I will give you a
2. Addendum
current listing agreement for your review.
2. Repair Form
Profile Sheet (to be completed by us upon
listing your home)
Property Disclosure
Agency Disclosure
Lead Paint Disclosure (if applicable)
Home Warranty
RANDY SCHERR & THE WOLBORSKY GROUP
17
THE HOME BUYING PROCESS
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RANDY SCHERR & THE WOLBORSKY GROUP
18
“ I am a professional in the Raleigh/Cary
area who happens to have a large family
including six active boys. A few years ago
with the six boys on the way our space
needs drastically changed. Randy was
there to hear our concerns. In a very short
period he was able to find out dream
home, as well as negotiate both the sale of
our old home and purchase of our dream
home.
I have never met a more professional,
tenacious, and people skilled individual
in any profession. Randy helped my
family realize our dreams, let him help
you.”
-Dr. William Wynne, DDS
RANDY SCHERR & THE WOLBORSKY GROUP
19
THE PROCESS OF BUYING A HOME WITH
RANDY SCHERR AND THE WOLBORSKY GROUP
The Buying Process
is available through the system website
This little book will be handy during
http://www.wcpss.net/ - from test scores to
the process of buying a home. You will
what's for lunch. We have a robust
find information on various aspects of
economy that is driven by major
buying property, names and numbers for
companies in the Research Triangle Park,
professionals and services you will need,
Centennial Campus, and throughout the
copies of contracts to review, moving
greater Raleigh area. We have repeatedly
suggestions, and other resources. We
dodged several recession bullets due to
have a glossary of real estate terms and
the diversified nature of the workforce;
even a fun section of Southern Terms for
Raleigh being the county seat, the capitol
those of you who are unfamiliar with
of North Carolina, and the home of
how we talk in these parts.
nearly a dozen colleges and Universities.
We work hard here but never lose sight
First a little about the area:
of our recreation time … Southerners
The Raleigh/Triangle area offers a
respect their recreational time and know
wonderful lifestyle environment for the
how to use it. I love living here and for
fortunate people who live here. A
those of you who are reading through
comfortable climate with all four seasons:
this little book, contemplating a move to
We enjoy normally moderate winters
this wonderful area … you may be about
with just enough snow to remind you it's
to make one of the best moves of your life
that time of year followed by a beautiful
... Welcome to Raleigh
spring that features many varieties of
Buying a home here isn't hard,
flowers and flowering trees/shrubs that
especially if you are prepared, have
will stay in bloom well into fall. Summer
access to good information, know what
is moderate but there are always 3 or 5
you want, and have a very good agent.
weeks when it's hot, but seldom over 950
Since your reading this - you are in
by day and wonderful at night...then the
contact with a very good agent, I will
fall colors brilliantly cover the area
make sure you have lots of detailed
during our delightful fall season. As I
information and we will be prepared.
write this it is about 650, sunny and it's
Part of my job is to discuss your needs
mid-January! Gotta love it. Wake County
and then comb through all the listings
offers up a great educational experience
currently available, providing you with
with many choices. Both traditional and
those that most closely match your
year around scheduling exist and there is
parameters. On my website,
a host of racks, programs, magnet
http://www.lovenc.com/ or our company
schooling, parochial and charter schools
website http://www.allentate.com/ , you can
to choose from. A wealth of information
actually search the MLS listings yourself
RANDY SCHERR & THE WOLBORSKY GROUP
20
if you prefer. We will visit homes and
Many of these elements will become
neighborhoods, go over market statistics,
evident as soon as we start our physical
discuss strategies all in a process of
search and see a few homes, so if you are
elimination, zeroing in on the perfect
not sure, just say so and we will work our
home. It will be my pleasure to refer you
way to your best solution. Once we have
to other professionals as necessary to get
an accepted contract in place we will
you off to a great start in your new
arrange to have the necessary inspections,
surroundings. Once we find that special
negotiate any repairs that are needed,
property we will execute our strategy to
work with your chosen lender to secure a
obtain the property at a good price by
loan, and set up a closing with an
making a formal offer and getting it to
attorney. Before you know it you will be
work. We will be armed with a clear
in your new home.
understanding of market stats, area
trends, experience, and negotiating skills.
I'm ready to start when you are.
THINGS TO CONSIDER:
What you want in a home...number
of bedrooms, baths, size, garage, age
of home, etc.
Where do you want your bedroom
Desired price range
Where in the area would you prefer
to live
Commute time limits if applicable
What styles appeal to you
How much of a yard do you
want/need
Area school requirements if you
have children
Regular area interests that will affect
where you live
Are you willing to update an
existing older home to spend less to
buy
Other features of importance...
RANDY SCHERR & THE WOLBORSKY GROUP
21
“Thank you Randy, for all the hard work. You have
diligently worked throughout the entire process for
me and the seller, to make sure we were both
satisfied. Your efforts exceeded way beyond the call
of duty. I greatly appreciate everything!!! I will
highly recommend you to all my friends. Thanks,”
-Vickie Lowery,
State Dept. of Insurance,
Fire Marshall Division
“When we decided to move to a new state we were
contacted by Randy through the Chamber of
Commerce. Randy spoke with us at length via phone
about what we were looking for in a home. Knowing
my mother, father, husband and I only had one week
to find two houses, he planned out our days only
showing us what we wanted. He had the patience of
a saint. Before our move, he kept an eye on our
homes as they were being built, went to bat for us
with the builders on a few issues, and sent us
pictures as the houses went up. He was so
wonderful, we recommended him to my sister who
began her plans for relocation shortly thereafter. In
the past five years, he has continued to stay in touch
with our three families.”
-Jimmy & Carol Lumia,
Owner, Geoffrey James Salon
MARKETING REPORTS AND
EXPLAINING THE APPRAISAL PROCESS
COMPARATIVE MARKET ANALYSIS
When you sell your home where the
(CMA'S)
buyer is obtaining a loan, the bank
We are a team! It is critical that we
requires a licensed appraiser to estimate
communicate regularly so we are on the
the market value of your home. After the
same page, striving for similar objectives
mortgage company receives a contract for
while marketing your home. We will mail
the sale of your home, they will order the
you “Marketing Reports” which will
appraisal. An appraisal is a professional
show you the activities we are doing to
opinion of the current value of your
market your home on a regular basis, if
home and is good for 6-12 months.
you wish.
To estimate the market value of your
We will also keep you abreast of the
home an appraiser researches the homes
current market conditions by sending
that have sold in your subdivision and
you updated Comparative Market
your immediate market area (within 1
Analysis Reports (CMA's) monthly.
mile if possible). Only homes that have
These reports will show any new listings,
sold in the past year and are similar to
recent pending sales and sales in your
your home in regards to livable area, age
area, plus some details on the properties.
and amenities (i.e. swimming pool, fire-
Please look at these reports as they
place, garage or carpet) can be
arrive, they will help you gain an
considered.
understanding of where your property is
An appraiser should be at your home
in the marketplace. This awareness is
for approximately 30 minutes to one
crucial and changes weekly. If you have
hour. They will measure your home, take
any questions when reading the reports,
photographs, draw a floor plan and note
don't hesitate to call.
the amenities your home has to offer. You
We have provided you the current
can help your appraiser by preparing a
CMA for your home.
list of recent improvements and
remodeling that has been done in the past
IF BUYING A HOME
several years; include the approximate
A CMA is also an essential tool when
amounts spent for each improvement.
buying a home. Just as a person selling
property needs to be able to determine its
WOOD DESTROYING ORGANISM
current value, so does a person looking
REPORT (TERMITE REPORT)
for a home need to know they are getting
This report is prepared by a state
their money’s worth. A CMA quickly
certified inspector as evidence of the
exposes homes overpriced or overbuilt
existence of absence of wood destroying
for the neighborhood. To buyers - or
organisms or pests that were visible and
justifies a home’s high price to
accessible on the date the inspection was
neighborhood.
made.
RANDY SCHERR & THE WOLBORSKY GROUP
23
In preparing your home for this
Most of these conditions are easy to
inspection you, as the homeowner, can
spot and inexpensive to correct. Be a
do certain things that will save you
smart seller and address these conditions
money and ensure a clean report at the
before your house is under contract. If
time of initial inspection. You can check
you aren't certain about the condition of
your home for conditions conducive to
your property, seek the assistance of a
infestation. These conditions are easy to
State Certified termite inspector to assist
spot and in most instances are simple to
you. Remember, in North Carolina,
correct.
termites are very common.
Walk around the exterior of your home
ADVANTAGES OF HAVING A HOME
and check for these conditions:
WARRANTY
What is a home warranty? A home
Wood to Earth Contact - If you have a
warranty insures and covers unknown
wood fence around your yard-does any
pre-existing conditions on mechanical,
portion of the wood fence or wood gate
electrical and plumbing parts and
come in contact with the house and the
systems of a house for one year. The
soil abutting the house? Concrete form
policy is renewable at the end of the year.
boards of trellises in the soil and in
contact with the house? Patio posts in the
If I'm selling a house, why should I
soil? Wood patio built directly on to the
provide a home warranty?
soil?
Providing a home warranty, as an
Excessive Cellulose Debris - Overgrown
incentive to the buyer, may be the edge
dried grass or landscape cuttings can
you need to sell your home versus
attract termites.
another home without a home warranty.
You are also eligible to receive home
Faulty Grades - Make sure all drainage
warranty coverage during the listing
off roof is able to flow away from the
period. Ask Randy for a copy of the
structure. Check all soil elevations around
seller's coverage options. They can
the structure to be sure that water can
eliminate a lot of headaches.
flow away from the stem wall. Excessive
Moisture- Check for water leaks in
showers, roof, faucets, cooling systems,
etc.
RANDY SCHERR & THE WOLBORSKY GROUP
24
THE CLOSING PROCESS
In North Carolina, the title work and
ATTORNEY'S DUTIES
closing procedure is handled by lawyers.
Search the title to the property to
The closing process is formal, where the
determine ownership, legal description
buyer and seller sign at the same time.
and encumbrances.
However, if you are going to be out of
Provide title opinion to title insurance
town when we are scheduled to close,
company, which issues title commitments
please inform us well ahead of time so we
for you and your lender work with seller
can facilitate.
to clear liens such as deeds of trust,
judgments and back taxes obtain the
RESIDENTIAL REAL ESTATE CLOSING
information and documents required for
PROCESS
closing:
CONTRACT
loan package
SIGN IT
seller documents,
PAY EARNEST MONEY
homeowners insurance
PAY DUE DILIGENCE FEE
pro-rations of taxes
homeowners association dues
INSPECTIONS
real estate commissions
Arrange the ones you want: home,
invoices for inspections & repairs
pest, radon, survey, well and septic
Ask seller to repair significant
CLOSING
defects
Your attorney will review the closing
statement with you, ensure seller
APPLICATIONS
documents are in order, have you sign
Apply for homeowners insurance
your loan documents, and receive loan
Apply for loan lender will order
funds. The funds you bring to closing
appraisal and flood certificate
must be in the form of a certified check
payable to the law firm or a wire.
ATTORNEY
After closing, the attorney records the
You choose your attorney (unless
deed and deed of trust, pays the seller's
you accept a builder's incentive
lender, invoices, commissions,
package)
homeowners dues and taxes, and ships
The attorney represents you (A
the loan package to your lender. The
builder's attorney does not.)
attorney files a final title opinion with the
The attorney is responsible to meet
title insurer for title insurance for you
your lender's requirements
and your lender.
The attorney can prepare the seller's
Prepared by Larry D. McBennett
deed with your consent
of Everett, Gaskins, Hancock. LLP, 919-755-0025
RANDY SCHERR & THE WOLBORSKY GROUP
25
PROFESSIONALS YOU’LL NEED
There are many excellent
Locksmith
companies in the Raleigh area. Below are
Busse’s Lock Service
companies and contacts that we have
919-828-9605
found to be reputable, efficient and have
Mortgage Consultant
treated our clients well over the years.
Scott Wittig
Home Mortgage Consultant
Accounting/CPA
Wells Fargo Home Mortgage
William J. McLamb, CPA
919-816-4813
919-881-0057
Kathy Hannam
Sharpe Rideout
Sr. Mortgage Consultant
919-878-1561
Allen Tate Mortgage
919-453-5068
Appraisal Services
Swicegood Appraisal
Plumber
919-420-0001
Randy Parks: Parks Plumbing Repair
919-553-6845
Attorney
Larry McBennett
Portable Storage
Everett, Gaskins, Hancock. LLP
Pack Rat Portable Mini Storage
919-755-0025
919-­‐832-­‐2255
Dentist
PODS 888-776-7637
Dr. William Wynne
919-851-3716
Septic/Sewer Systems
If you are on a septic system, a company
Electrician
for pumping and certification may need
Ambassadoor Electric
to be selected. You may wish to use the
Allen Shindledecker
company you have an established
919-779-0443
relationship with.
Heating & Cooling
E FIVE: Kim Richardson
Air Maker ’s
Septic Inspections & Certification
919-878-8800
919-­‐481-­‐0505
Home Inspections
Septic Construction and Repair:
Triangle Inspection Services
Gulley’s Backhoe Service
Larry Greenwold, AISHA
919-­‐779-­‐7248
http://www.tisa.com/
919-549-8171
Rainwater Solutions Inc.
Lynn and Mike Ruck
Investments/Financial Consultants
Rainwater Catchment Systems
A.G. Edwards: James Carroll
919-­‐779-­‐7248
919-781-7490
http://www.rainwatersolutions.com/
RANDY SCHERR & THE WOLBORSKY GROUP
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MISCELLANEOUS LINKS
The Wake County Public School System
http://www.wcpss.net/
North Carolina Public Schools -­‐ Find out
school report cards and test results
http://www.dpi.state.nc.us/
North Carolina Department of Revenue -­‐
Learn about taxes and download forms
http://www.dor.state.nc.us/
To change your address
http://www.changeofaddressform.com/
City of Raleigh Newcomers
http://www.raleighchamber.org/newcomers/
“We recently tried to sell our house
"For Sale By Owner" and quickly
realized it takes a professional real
estate agent, so we decided to hire
the BEST! Randy sold our house in
two weeks and had to handle some
serious negotiating on our part.
Mike and I have worked with
Randy in two other real estate
transactions and completely trust
his many years of experience and
expertise. You are the best and I do
mean that!”
- Lynn & Mike Ruck,
Rainwater Solutions Inc./Owner
RANDY SCHERR & THE WOLBORSKY GROUP
27
MOVING GUIDE
It’s time to move! Here are some
Notify the post office of your move
special reports that might be helpful to
by using the Change of Address
you during your move.
Form.
Notify friends, family and business
1. Moving Checklists
of your move.
Notify federal and state taxing
2. Special Interests
authorities or any governmental agency
Garage Sale Tips
needed.
Packing Tips
Two Weeks Before Move:
Moving With Children
Notify utilities (gas, electric, water,
Travel Fun & Games
cable and phone companies).
Moving Your Pets
Arrange for services at new address.
Moving Your Plants
Notify long distance phone
Internet Resources-Moving
company and arrange for service at
your new address.
MOVING TIMELINE CHECKLIST
Have your car serviced if you are
One Month Before Move:
driving a long distance to your new
Arrange for moving your furniture
home.
and personal belongings either by
Recruit people to help you on
hiring a moving company or renting
moving day.
a truck.
Arrange for someone to take care of
Accumulate moving supplies such
your pets or children during the
as boxes, tape, rope and anything
move.
else you might need.
Confirm moving company or rental
Plan your travel route if you are
truck arrangements.
driving to your new home.
If leaving the city, notify your bank
Some moving expenses are tax
about moving.
deductible, so you should save all
One Day Before Move:
receipts for moving related expenses
Keep moving materials separate so
including meals, lodging and
they don't get packed until you are
gasoline.
finished.
Develop a plan for packing such as
Pick up rental truck if you are
packing last the things you use
driving it yourself.
most.
Fill up your car with gas and check
oil and tires.
RANDY SCHERR & THE WOLBORSKY GROUP
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TIPS ON HAVING A GARAGE SALE
1.
Allow plenty of time-three to four
12. Place a classified ad in the local
weeks to prepare for sale.
paper including 3-4 items for sale,
2.
Choose a date that will not conflict
directions and other details.
with holidays.
13. Take advantage of free publicity by
3.
Weekends are more convenient for
using bulletin boards in grocery
more people than weekdays.
stores and other public places.
4.
Your sale is likely to attract more
14. Provide directional signs to your
people if you join together with
property
neighbors in an effort to have more
15. If your home is listed for sale, have
merchandise. Some homeowners'
flyers on your home available for
groups are sponsoring
people to take!
neighborhood sales that are
16. Visit other sales to form an idea on
proving popular!
how to price things. Be prepared to
5.
Practical household goods are
bargain down your prices.
popular items; adult clothing has
17. Post a notice that all sales are final
less appeal.
and payment must be in cash.
6.
Merchandise your items
18. Have plenty of change in a cash box
attractively in neat, clean
kept in a protected spot. Keep a
surroundings.
record of sales, especially when
7.
Cluster things in categories; place
there are several sellers. One
the more desirable items in the back
recording device that is simple and
of the garage so browsers are urged
efficient is to use small white
to look at other merchandise on
stickers to price items and when the
their way to the most popular
item is purchased, remove the
items.
sticker and place it next to the name
8.
All items should be clean, polished
of the seller.
and in good repair.
19. On a hot day, have ice water or
9.
Locate your appliance table near an
lemonade available so people stay
outlet so customers can try before
longer.
they buy!
20. Tell your real estate agent about
10. Be sure there is adequate parking
some of the major items in your
space and a place to load large
sale. He may have a client looking
items.
for just the thing!
11. Have plenty of paper bags and
boxes for packing and newspapers
for wrapping glass items.
RANDY SCHERR & THE WOLBORSKY GROUP
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TIPS ON PACKING
Use strong containers that are in good
Don't load more than 50 pounds into any
condition and that can be secured tightly
one box, and make sure the weight is
with twine or strapping tape. These can
evenly distributed.
usually be purchased from your moving
company. Purchase special boxes for
Pack books tightly in small boxes.
dishes, wardrobe and other special items.
Alternate bindings and wrap valuable
books separately.
Label each box with its contents,
which room it should go in, whether it is
Have your rugs and draperies cleaned
fragile and whether it should be loaded
before moving and leave them in their
last so as to be unloaded first.
wrappings for easier handling.
Cushion contents with newspaper or
Remove all breakables and liquids
other packing material to prevent
from drawers and pack them separately.
breakage. Use newsprint or tissue paper
for items that might be soiled by
Seal medicines and other containers to
newspaper. Towels and cloth napkins are
prevent leaking and pack in a leak-proof
great for wrapping fragile items.
bag or container.
Pack linens and clothing in drawers,
but don't overload them.
Carry all valuables with you. Don't
pack jewelry, documents, coin or stamp
collections or anything that will be
difficult to replace. Your bank can move
contents of safety deposit box for you.
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MOVING WITH CHILDREN
If you think moving is hard with
DURING THE MOVE: REMEMBERING
adults, imagine what it's like for children.
WHAT IS IMPORTANT
They're starting over trying to meet new
Throughout the move, stay as
friends while getting used to a new
upbeat and calm as you can. Your
home, neighborhood, and school. Think
own mood will impact your
about your children's specific needs
children's moods.
before, dur- ing and after the transition
Involve your children in the packing.
and you'll make a big difference in how
Older children can put their own
your chil- dren feel about the move and
belong- ings in boxes, and children
how they adjust afterwards.
of all ages will enjoy decorating the
boxes containing their things.
BEFORE THE MOVE: PREPARING
Try to stick to your routines. Have
Give your children a chance to
meals at the same times as always.
express their feelings, and try to be
Don't pack things that your children
honest about your own feelings.
treasure. Take special blankets,
Children who have a chance to
favorite books and other prized
express them will work through
items in the car or on the plane when
their doubts more easily.
you go to your new home.
Help older children compile a list of
Help your children say goodbye to
phone numbers and addresses of
the important people in their lives.
friends, relatives, and other
For their friends, a party is a fun way
important people in their lives.
to celebrate the friendship.
Knowing they can stay in touch with
For many families moving day
these people will be reassuring.
means a long car trip or a cross-
Take your children to your new
country flight. Prevent backseat
home before you move and explore
blues and airline angst by adding
the new neighborhood together and
travel fun and games to your plans.
town or city together.
Allow your child to bring an album
Try to line up some activities in
with pictures of their old home and
which your child can participate
friends. This will allow them to
after the move; a sports team, music
express their feelings and allow you
lessons, or a scouting troop. Not
to reassure them that it is natural to
only will activities like these keep
feel loss and ini- tial discomfort with
your children involved, but they'll
such a big change.
also help them feel like part of the
group.
RANDY SCHERR & THE WOLBORSKY GROUP
31
AFTER THE MOVE: GETTING SETTLED
add fun and excitement to a particularly
To make your new home seem more
dull portion of the journey.
like home, hang your child's or
family portrait in a prominent
DOCUMENT THE TRIP
location or create a tabletop display
Give your child a disposable camera
of family photographs.
and the assignment of recording the trip.
Take pictures of the new home, new
Keep a travel journal or a diary recording
neighborhood playmates, family
interesting places and adventures. Save
members and school etc. Start a new
ticket stubs and other mementos in a
family album to show there is fun
scrapbook.
and family togetherness available at
the new home.
TRIED AND TRUE TRAVEL
Don't spend too much time
TAKE -A-LONGS
unpacking- at least not right away!
Road-tested by pint sized travel
In the first few days, take time to
buffs across the country, the
enjoy your new home with your
following travel games are sure to
family. Take walks and check out
provide relief for sufferers of acute
local restaurants.
travel boredom:
Travel versions of popular board
Above all, listen. Try to be there when
games such as Connect Four,
your children get home after the first day
Battleship, or Checkers. Travel
at their new school, even if it means hav-
Magnadoodle and Travel Etch-a-
ing to leave work early that day.
Sketch have received top marks form
Regularly ask how things are going, and
little road warriors around the
take time to listen.
country.
Hand-held video games or even a
TRAVEL FUN & GAMES FOR CHILDREN
laptop computer can provide hours
Information on helping Children Move taken from
http://www.moversguide.com/
of zap-it up fun. Save your sanity
The following suggestions will help
and turn off the sound.
Exercise the mind with activity
make your trip more fun for your kids
and more enjoyable for your entire
books filled mazes, crosswords, and
family. These suggestions are for
other puzzles. Quiz each other with
trivia cards. Giggle as you work your
anywhere fun and games for kids:
way through a book of Mad Libs.
LITTLE SURPRISES
REST STOP RACES
Purchase several inexpensive toys
before your trip. Give them to your
Turn rest stops into fun stops! Bring a
children as surprises periodically
soccer ball or football for rest stop fun.
Running games like tag or foot races are a
throughout the journey. A new toy can
RANDY SCHERR & THE WOLBORSKY GROUP
32
great way to spend some of that saved up
energy. Schools, city parks, and
recreation areas, and fast-foody questions
when reading the reports, don't hesitate
to call.
READ ALOUD AND SING ALOUD
Bring several books and take turns
reading aloud in the car. Be expressive
and entertaining. Sing-along cassette
tapes can be fun for the whole family.
Cast recordings of popular musicals as
well as movie soundtracks are a great
way to sing the mile away.
MAP YOUR JOURNEY
Take time to learn about your
destination and all of the exciting places
along the way. Plan your rest stops as
museums, historical sites, and other
interesting places. Trace your route on a
map and look up interesting facts about
each place in a guidebook.
SCAVENGER HUNTS
Search roadside billboards and signs
for the letters of the alphabet, in order.
Make your own list of things to find: gas
station, school, church, horses, cows,
river, and anything else that you may
find between your starting point and
your destination.
RANDY SCHERR & THE WOLBORSKY GROUP
33
MOVING YOUR PETS
FISH
Think twice about taking your dog or
It is not practical to move fish in their
cat with you on a long cross-country trip.
aquarium. A gallon of water weighs 8
Not only can animals get car sick, but
pounds. Plan on giving the fish away and
being cooped up in a car all day can make
restock the aquarium when you arrive at
them nervous and upset. They must be
your new home.
fed and have plenty to drink (make sure
you take along a water dish). They have
CATS AND DOGS
to make rest stops and must be on a leash
Cats and dogs can either be shipped
to keep them from running off anytime
by air or taken along in the car. If you are
the car door is opened. Some motels and
flying to your new destination, your cat
hotels don't allow pets. Others have
or dog can ride in the baggage
special facilities for handling travelers'
compartment. Your pet will need a health
pets. Call in advance and check out the
certificate from your vet. Call the airline
available literature on hotels along your
in advance to find out about special boxes
route. National chains usually pub- lish
they may have. If you are going to make a
such information.
container for it, make sure it complies
with the air- line's regulations. It is a
SMALLER ANIMALS
good idea to put a piece of clothing with
Hamsters, birds, mice and such can be
your scent on it in the animal's box so it
transported in the family car fairly easily.
will feel more at home.
Make sure they have enough food and
If you aren't flying with your pet, but
water in their cages and are out of the
are having it shipped by air, make sure
drafts or extreme temperatures. Cover
someone is on the other end to pick it up
cages with a cloth to keep the quiet and
at the airport and take care of it until you
restful.
arrive. The easiest way is to let a kennel
Your vet or pet stores are also
do it for you. Many kennels can take the
valuable sources of information.
pet several days before you move
(keeping it out of your way), or take it to
the airport and arrange to have a kennel
on the other side pick it up and take care
of it until your arrive.
RANDY SCHERR & THE WOLBORSKY GROUP
34
MOVING YOUR HOUSE PLANTS
You can take your plants with you
5.
On the day of your move, set the
when you move without harming them.
boxes aside and mark “DO NOT
Here are some tips.
LOAD” so they won't be taken on
the moving van.
1.
Call your local U.S. Department of
Agriculture to check on regulations
6.
On the day you leave, close boxes,
if moving from one state to another.
punch air holes in the top and load
Many states have restrictions on
in your car.
certain kinds of plants to prevent
importing bugs or pests that can
7.
When on the road, be careful where
destroy valuable cash crops in that
you park your car. Look for a shaded
state.
area in the summer and a sunny spot
in the winter.
2.
A couple of weeks before you move
prune plants to facilitate packing.
8.
Unpack the plants as soon as you can
Consult a florist or plant book for
after arriving. Remove plants
instructions.
through the bottom of the box in
order to avoid breaking their stems.
3.
A week before you move put your
Do not expose the plants to much
plants in a black plastic bag (prior to
sunlight at first. Let them get
placing your plant in the bag) place a
accustomed to more light gradually.
bug/pest strip, conventional flea
collar or bug powder in the bag.
9.
If you must leave your plants
Close the bag and place in a cool
behind, then take cuttings. Put them
area overnight. This will kill any
in a plastic bag with wet paper
pests on the plant or in the soil.
towels around them.
4.
The day before your move, place the
plants in cardboard containers. Make
sure they are held in place by
dampened news- paper or packing
paper. Use paper to cushion the
leaves and place a final layer of wet
paper on top to keep them moist.
Water the plants normally in
summer, a little less in winter.
RANDY SCHERR & THE WOLBORSKY GROUP
35
SOUTHERN COLLOQUIALISMS AND UNIQUE REGIONAL TERMS
'North Carolina heartburn'
We, in the South, take great pleasure
Suffering from ones trousers sticking to their
in poking a little fun at ourselves all'yall.
body in hot weather.
So we have first included a selection of
Southern Colloquialisms & unique words
'They've got more (insert choice word here)
for you to enjoy. Then a regional food
than Carter has Liver pills’
dialect section explains food terms and
eating rituals around North Carolina.
'I wouldn't know him from Adam's
Finally, we recommend two books if
housecat’
you want even a deeper understanding of
I don't know the person.
the language and region. We believe that
there is no language more musical or fun
'Afore noon'
Before noon.
than the Southern dialect and hope you
enjoy!
'When are we agwine?'
Are we going?
'I had to go around my elbow to get to
my thumb'
'Ah tay ya what'
When forced to do something that is simple,
I tell you!
the hard way.
'Aim to'
'I'm fixin to go down the road a piece'
Intend to.
I am going on a short trip.
'Ain't fittin'
'Gad night a ivin'
Not right.
Good grief!
'Ain't got a lick a sense'
'Bless her/his heart'
Stupid
Said after a criticism of someone.
'Don't that beat all git out'
'We better get on the stick'
To the extreme.
We better get started.
'He/She's all heeled'
'You can't beat that with a stick
He/she is well provided for, doing all right.
You can't find any fault with that.
'All vine and no 'taters'
'That dog won't hunt'
Describes someone who is all talk and no
I don't believe you.
action.
'….like a chicken on a June bug'
'All wool and a yard wide'
Doing something quickly.
Describes someone who is first class, genuine.
RANDY SCHERR & THE WOLBORSKY GROUP
36
'As mad as a pig on ice with his tail
'Cut a shine'
frozen in'
Perform an action or gesture in a striking
Plenty mad.
style or manner.
'I'll be dawg it'
'Everything an'all’
I'll be darned.
A phrase expressing completeness, the entire.
'Believe you me'
'I'm fixin'
Said to emphasize a point.
I'm preparing.
'Between hawk and buzzard'
'Fix his wagon'
The twilight hour.
Get revenge.
'Now that's a big'un'
'Fo' Gawd, F' God’
That is a big/incredible story.
Exclamation said usually before an
observation.
'They’s be a blanket-stretcher'
The person tells tall tales, also known as wind
'Forty ways from Sunday'
jammin or wind spinnin'.
Going off in all directions.
'Bore for the simples'
'He's got a gracious plenty/ good many
A joking phrase that a hole should be drilled in
______'
the head of someone who is joking around to
He has many of something.
let out the foolishness.
'Good ole boy'
'Born tired and raised lazy'
Southern male who is in control and in the
Said of someone who is without anther drive.
know.
'Breakin' it off in someone'
'We are gwine'
To hurt with a cutting remark.
We are going.
'She's just a bugalugin'
'Havin' the wrong end of the poker'
She is moving around in an aimless way.
Be on the losing side, a bad bargain.
“Carryings-on'
'Heart in one's pocket'
Mischeviousness or wild party.
To become indifferent toward a woman whom
one has been courting.
'Chew yer own tabacco'
To rely on yourself.
'We had a hog-killin' time!'
We had a highly enjoyable time
'To come out at the big end of the horn'
To be successful
RANDY SCHERR & THE WOLBORSKY GROUP
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'I'm here to tell you'
'Why she's real pearten up'
Said for emphasis ex: I'm here to tell you that
She is more lively.
was not the way it was.
'That's sum gooood poke'
That was delicious pork we ate.
She's in a bad way'
She is seriously ill.
'He's a poke easy'
He is a lazy, slow person.
'In and about'
Approximately.
'Precious'
Said as a kind affectionate name for a lady.
'He did that in a swivet'
He did that in nervous haste.
'Mame' & 'Sir'
Used often to show respect for adult/person
'The work must a been done by some
speaking to.
jackleg.'
The work was done by a semi-skilled artisan
and is of inferior quality.
'Miss/Mr. (first name)
Used by children to address adult family
friend, shows respect to an adult friend.
‘'They keep close to the willows'
They are conventional, conservative, modest.
'Put the big pot in the little one'
To provide extraordinary hospitality.
'Man's gotta do what a man's gotta do'
Southern male expression to explain the unex-
plainable when it is a matter of honor.
'Randeevoo'
Rendezvous
'That kid shur' can multiply words'
The child can whine or argue with parent(s)
'Shur’
well.
To share
'It's nearabout thar'
'Wellllllllll shut my mouth'
Refers to location, almost or nearly arriving to
What all Yankees think Southerners say as an
a destination.
expression of wonder or surprise.
'It ought to be good.'
'Soft mouth, sweet talks'
It should be good. Note: ought is synonymous
To pacify
with should.
'Uther'
'Ought to should'
Other
Is also said for should.
'I'm of a mind to git outta here'
I am about to leave now.
RANDY SCHERR & THE WOLBORSKY GROUP
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NORTH CAROLINA SOUTHERN FOOD RELATED TERMS
A few notes about food specific to
There is an affinity for hot sauce in the
North Carolina: Southerners always offer
Triangle area cuisine. Some folks believe
a visitor something to drink the minute
that it is a food group.
the guest arrives.
Finally, if you enjoy cocktails, know
JUST REMEMBER:
two important details:
In the south there is really no pop, just
soda, but that's really a “Coke” or
Mint Juleps and are made with
SWEET TEA (which is a mixture of hot
bourbon, sugar, water, mashed mint and
water and a large quantity of sugar.)
ice.
'Moonshine' is home brewed whiskey
If someone invites you to a pig
and occasionally appears at a social
pickin’, understand that you are being
gathering.
invited to an outdoor picnic that will
include in the food selection fire roasted
Have fun with this! If you would like
pork. It is a very popular part of regional
more information on Southern
entertaining.
Colloquialisms or Southern Culture, we
think you would enjoy reading either of
Remember “dinnertime' is at noon
the following books:
and evenings are for 'supper'.
Suddenly Southern
by, Mauren Duffin Ward
Barbeque sauce is taken very seriously
in this region. In the Raleigh area you can
and
find the Eastern Vinegar-Based Barbeque
and the Western Ketchup-Based
The Dixie Dictionary
by, Thomas W. Howard
Barbeque. The vinegar-based sauce is the
favorite of natives in the area.
Contact us at :ILoveNC@bellsouth.net
RANDY SCHERR & THE WOLBORSKY GROUP
39
GLOSSARY OF REAL ESTATE TERMS
Agent - An individual who represents a
Comparable Market Analysis (CMA) - A
seller, a buyer or both in the purchase or
comparison of the prices of similar houses
sale of real estate.
in the same general geographic area. A
CMA is used to help determine the value
Amortization - The schedule of loan
of a property, either for a seller or a buyer.
payments that establishes the amount of
payment to be applied to the principal
Closing - The process that effects the final
and the amount to be applied to interest,
transfer of the deed from the seller to the
usually on a monthly basis, for the full
buyer, as well as finalize all aspects of the
term of the loan.
mortgage of the property.
Annual Percentage Rate (APR) - The
Closing Costs - Funds needed at the time
TOTAL interest rate of a mortgage,
of closing (separate from and in addition
including the stated loan interest as well
to the down payment). Loan origination
as any upfront interest paid in securing
fees, discount points, Attorney fees,
the loan. The APR will invariably differ
recording fees and pre-paids are some
from the mortgage rate quoted due to the
items that may be included. They often
inclusion of these items.
will total from 3% to 5% of the price of the
home, payable in cash.
Appraisal - An estimate of value of a Real
Estate property by a professional third
Contingencies - These are conditions - or
party. Virtually all non-owner financed
"safety valves" written into Real Estate
mortgages will require an appraisal and is
offers and contracts to prevent a buyer
generally paid for by the buyer.
from being forced to buy a house that is
unsatisfactory - either structurally or
Adjustable Rate Mortgage (ARM) - A
financially. Examples of contingencies are
mortgage in which the Interest rate is
"This contract is subject to the buyer
adjustable, meaning that the rate can go
obtaining a satisfactory whole house
up or down according to prevailing
inspection." or "Subject to the buyer being
financial market conditions.
able to obtain a mortgage."
Assessment - The value of a property as
Condominium - Housing where the
determined by the local tax jurisdiction,
owner owns only the unit in which the
which is used to determine the amount of
live - from the interior walls inward,
your property taxes.
generally - as well as a portion of the
common area.
Buyer's Agent - A Real Estate Agent that
has made an agreement to represent the
Debt to Income Ratio - The ratio of a bor-
buyer exclusively, rather than the seller.
rowers total of debt as a percentage of
their total gross income.
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Deed - The document that, when
Homeowner's Association - An owners
recorded with your local government,
group, whether in a condominium,
determines ownership of a property.
townhouse or single family subdivision
Transferred from seller to buyer at
that establishes general guidelines for the
closing.
operation of the community, as well as its
standards.
Earnest Money - Money that is submitted
with an offer to purchase which indicates
Inspection - A whole house inspection of
a buyer's seriousness and good faith. In
a home being considered for purchase
virtually all cases, earnest money will
which looks for defects in the property.
need to be submitted at the time of the
offer and remains in escrow until the time
Interest - That portion of a mortgage
of closing, at which time it becomes part
payment that is the "charge" for using the
of the down payment.
lender's funds.
Equity - The difference between the value
Lien - A legal claim against a piece of
of a property and the total of any
property that can prevent it from being
outstanding mortgages or loans against it.
sold unless the lien is satisfied (paid off).
Liens can be filed by unpaid contractors
Escrow - Funds held in reserve both prior
or other debtors in a legal process so that
to closing (for example the earnest money
they will be paid when a property is sold.
and deposit) by a third party and after
closing by the mortgage company to pay
Listing - A property for sale by a Real
future taxes and homeowners insurance.
Estate Brokerage and Agent.
In some areas, "escrow" also refers to the
closing process.
Loan Origination Fee - A charge
imposed by the lender, payable at closing,
Fixed Rate Mortgage - A mortgage loan
for processing the loan.
where the interest rate is established at its
origination and continues unchanged
Lock-in - An agreement by the lender at
through the life of the loan.
the time of mortgage application or
shortly thereafter, to write the mortgage
FSBO (For Sale By Owner) - Real Estate
at a specific interest rate, whether rates
that is sold without the assistance of an
rise or fall up to the date of closing.
Agent. FSBO can refer to both the
Obviously a good move if rates are rising,
individual selling the property "They are
not so good if they are falling. Lock-ins
a FSBO," or the property itself "that house
have specific expiration dates, such as 30,
is a FSBO."
60 or 90 days in the future.
Foreclosure - The process through which
LTV (Loan to Value) - The ratio of the
a lender takes back property from a
amount of the mortgage as a percentage
defaulting owner and re-sells it.
of the value of the property.
RANDY SCHERR & THE WOLBORSKY GROUP
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MLS (Multiple Listing Service) - A
interest portion in the first years of the
listing (almost always computerized) of
loan).
all the properties for sale by Real Estate
Brokerages in a given geographical area.
Property Tax - An annual or semi-annual
tax paid to one or more governmental
PMI (Private Mortgage Insurance) -
jurisdictions based on the amount of the
Required on virtually all conventional
property assessment. Generally paid as
loans with less than 20% downpayment.
part of the mortgage payment.
Although the payments for PMI are
included in your mortgage payment, it
Recording - The act of entering deed
protects the lender should you default on
and/or mortgage information into public
the loan. On FHA loans, you will pay a
record with your local government
MIP (Mortgage Insurance Premium)
jurisdiction.
which accomplishes the same purpose.
Sub-Agent - A Real Estate Agent who is
Points - 1 point is equal to 1% of the loan
working with a buyer but who represents
value, paid at closing. Points can be loan
the seller in the transaction.
origination fees or "discount points"
which reduce the interest rate of the loan
Title Insurance - Protects your title - your
(you are actually paying a finance charge
ownership rights - from claims against it.
up front). When a lender, for example,
Paid at closing, title insurance may be the
quotes a rate of 8 1/2% with 1 + 1 points,
responsibility of the buyer, the seller, or
1 point is for the origination fee and 1
both, depending on what is traditional in
point is for the discount fee.
your locality.
Prequalification - The first stage of a
Warranty - Covers either most of the
mortgage application where the lender
house in a new home, or selected items
will run a basic credit report and
(for example the heating and air
determine your debt to income ratio in
conditioning system or the water heater)
order to see how much mortgage you
in a used home. Warranties can vary
qualify for.
widely and are optional in used homes
(paid for by either the buyer or the seller).
Pre-paids - Paid for (in cash) at closing
for such items as homeowners insurance
Zoning - Laws that govern specifically
for one year and real estate taxes for
how a zoned area can be used. For
several months.
example, an area may be zoned for single
family residential, condominiums,
Principal - The amount borrowed for a
commercial or retail, or a mix of two or
mortgage loan. Your monthly mortgage
more uses.
payment will be applied to both the
interest and the principal (be assured,
though, that the lions share will go to the
RANDY SCHERR & THE WOLBORSKY GROUP
42
Thank you for choosing
RANDY SCHERR & THE WOLBORSKY GROUP
If you have any questions
regarding the information
presented here, please do not hesitate
to call... it is our pleasure to help.
RANDY SCHERR
ABR, SRES, IDSA
The Wolborsky Group
Allen Tate Company
9212 Falls of Neuse Rd, Suite 111
Raleigh, NC 27615
919.272.0191 cell
919.876.2372 office
randy@lovenc.com
http://www.lovenc.com/
http://www.allentate.com/randyscherr/
RANDY SCHERR & THE WOLBORSKY GROUP