Tips for Buying or Selling Your Home in Oregon Part 1

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Use these tips in any city or town in Oregon

Key Selling Points

Just like any homes for sale in Pendleton, Oregon, the marketing approach can be a key element in how fast and how much your home in Pendleton sells for. Buyers are often looking for one or two key ingredients that grab their attention. You may not be aware of it, but your home may have one of those special selling points. I am keenly aware of it! There are buyers looking for special ingredients such as open space, extra bathrooms, an in-law apartment, attached garage, home office, alarm system, near town but private, and on and on.

Finding the right selling points for your home in Pendleton that will fit current market conditions is vital. Creating interest among buyers and injecting excitement into the sales process helps attract buyers, especially those who are looking for homes in Pendleton with special qualities. These elements must be brought to the forefront quickly. I pride myself in doing this. If you want your home to stand out in the marketplace, call me. Chris Sykes (541) 215-2274

Mineral Rights

When properties in and around Pendleton are sold, the rights to the minerals in the soil below are many times held by the previous owner either for the current value or possible future benefit. Because mineral rights are usually held as separate from the right to build or occupy a piece of real property, they are often over looked, and unless reserved and made part of the purchase agreement, the rights do not automatically go to the buyer upon sale.

Because oil and mineral exploration is usually done far below the surface of the earth, and the extensive use of slant drilling today, oil and minerals can be taken from hundreds of feet below the surface without the dwellings on the ground being disturbed or even aware of what is going on. The grant deed at the time of sale will usually note if the mineral rights are included. It is not uncommon for sellers thirty or forty years earlier to still be in possession of the rights and any royalties from oil and minerals.


When either selling or buying a home in Pendleton, negotiating the best possible price and terms is an art, and it is one that often times takes much training and experience.

Usually, a third party, such as a real estate agent, can act as a buffer between the two principals and work out the differences that would be hard to overcome by both buyer and seller meeting face to face and not trained in negotiating. Also, someone not involved in the actual transaction can take a more distant and realistic look at the two sides and offer solutions that a buyer or seller who are emotionally involved would not think of.

Some of the largest and most sophisticated corporations in the country regularly hire negotiators for important projects because of their expertise, so it’s only natural that someone buying or selling a home, which usually represents one’s largest financial investment, would have an agent negotiating on their behalf.

Never A Better time

The old saying goes: “There is no time like the present.” When making the decision to move up to a larger or newer home in Pendleton, there is no better time than right now to put your home on the market. There are some wonderful opportunities to secure that home of your dreams right now at the right price.

However, before you can seriously think about a new home in Pendleton, you have to do something about your present one. The best situation is to have your present home in Pendleton under contract or sold. Without the first event, the second event may be a difficult reality. By having the dollar figures in hand from the sale of your present home in Pendleton, you can better evaluate how much cash you’ll have for a down payment and how much you can actually afford to pay for the new home in Pendleton.

Coordinating the purchase and sale of two Pendleton homes in a short time frame can be tricky. As your Realtor, I can guide you through the steps to produce a smooth sale as well as purchase.

Painting And Curb Appeal

The executive dressed in a tailored suit looks a whole lot different than he does on a weekend fishing trip. Just like the well-groomed person gets more attention, your home in Pendleton will get more favorable looks from buyers if it has a fresh face to it. It will probably sell for a higher price as well.

One of the most effective ways to dress up your home for sale is to put on a fresh coat of paint. Dollar for dollar, you will get more in terms of a higher selling price with new paint than with just about any other improvement you can make. Curb appeal is extremely important in attracting buyers. Old, weather-beaten paint can actually detract interest and buyers from a very nice home in Pendleton.

Many times, just painting the trim, doors, the eves and rain gutters is all that is needed to give a house a fresh look. Selecting contemporary colors that give a home that up-to-date look will also help in getting top dollar for your home once it goes on the market.

Do You Qualify For A Mortgage?

When buying a home in Pendleton, one of the most important aspects for most buyers once they have decided on their choice of a home, is meeting the lender’s requirements for obtaining the loan.

The elements that the lender will look for in qualifying a buyer for a loan is the amount of total income, long-term debt such as auto payments, installment loans and credit card payments. These amounts, along with the projected cost of repaying the mortgage and figuring monthly payments on principal, interest, taxes and insurance are all figured together and subtracted from the total income.

From there, the lender will allow a certain percentage of these costs, roughly a third, from the total income as allowable debt. This so-called ratio is how the lender qualifies a prospect for a home loan, along with credit history, savings reserves and stability of employment.

In My Next Blog Post I will talk about:  Why get a second Mortgage? The Importance of Location,  Selling in a Hurry,  Appraisers and Market Estimates, and Homeowners Tax Haven.    See you then!

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