Tag Archives: Charlotte Realtor

How to Hire a Contractor to do Work in Your Home

home work  An important aspect of hiring a contractor to do work in your home is to understand what permits, special requirements or licensure are required for each job.  Once that’s understood, you can know whether it’s best to hire a licensed contractor or a handyman.

REFERRALS
Be sure to ask for referrals and references and know the relationship of those referring parties to the contractor. Ask for pictures of installations on similar jobs that have been performed for others and give those referring parties a call or visit to ask how the work was performed, the attitude during the job, coming in on budget and wrapping up on time.  Discover if there are any negative remarks online or with the BBB.   Be sure he or she is qualified to handle the scope and type of work needed, especially with regard to special conditions such as lead based paint, asbestos, mold, etc.

IDENTITY
If the home is occupied, if personal items are stored there or is otherwise notid_verified vacant, be sure to qualify your contractor if he’s unknown to you through online services such as mysmartmove.com or others.  Get a copy of the contractors driver’s license and have him sign a w-9 to include his social security number.  If you’re an investor and renovations are common for you, you may want to investigate the Verify Photo ID app recommended by Inman News.

CONTRACT
Next, execute an Independent Contractor Agreement with your contractor. Be certain it has no verbiage or requirements to suggest the contractor is an employee of yours.

PHASES
Now is the time to outline and understand the three phases of the renovation. The initial Phase One is paid on day 1 of the job.  The subsequent draws for Phases Two and Three should be paid by the week, on a Monday or Tuesday. In constructing the phases, the contractor should budget for each item and any overages or misquote is the responsibility of the contractor, not the homeowner. Make sure your agreement covers things such as milestones, and outlines the scope and sequence of the work to be completed. The contract should include the description of all work, and condition of Customer Satisfaction such as all items completed in a workman like manner, job site left clean and tidy daily, and no items incomplete.

MATERIALS
selecting-the-right-color-bigIdeally the home owner should have chosen paint colors, sheens, types for each space, cabinets, granite and whatever materials will be used in the project at the source. Have your Independent Contractor pay for those materials and have that provider deliver the materials to the job site, then reimburse the contractor immediately – this strategy avoids any appearance of establishing an employee/employer relationship. Do not pay for routine tools and supplies the contractor uses in his everyday business such as paint brushes, ladders tarps , etc.

UPDATES
If you’re not the owner occupant at the job site, require the contractor to provide daily pictures and videos of each phase when complete before scheduling a personal inspection and before payment on that phase is released.  An investor can use this in the future or marketing.

COMPLETION
In exchange for the final payment the homeowner should sign off that he is satisfied with the job, and the independent contractor should sign that he is releasing all liens in exchange for final payment.

For a No Obligation Sample Copy of my Independent Contractor Agreement, email me.  I’ll be glad to help.  Chrystal.Roy@RERCharlotte.com | 980.355.9025

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cbs isaChrystal Safari Roy, Broker in Charge of RER Charlotte, an Investor-Centric Real Estate Firm bringing you from Purchase to Portfolio located in SouthPark Towers, has over 20 years experience in investing, personal property management and residential real estate sales and is a licensed REALTOR® in North and South Carolina.  As a MASTERS Designation holder, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, and is a multi-million dollar producer.  Chrystal is a Certified Military Residential Specialist, Luxury Home Specialist, and HUD Registered Agent.  View all our properties at RERCharlotte.com.

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Choose Your Broker Participation Level to Service Your Rental Portfolio

In North Carolina, if you’re not interested in hiring a large property management company, but don’t have the skill, experience or desire to manage the application and leasing portion of your rental portfolio, your expert, full-service real estate broker can be an asset to you.  An excellent candidate would be a licensed, experienced real estate broker who has him or herself owned and managed rental properties.  Services offered might include any one of several levels of involvement of your choice.  As a landlady of over 12 years with zero evictions, the Leasing Agent Duties and list of services I provide include:

Level One

  1. Provide Rental Rate Estimate based on currently rented units in Mecklenburg county with respect to year built, zip code, and number of bedrooms.
  2. Advertise in-house to rental specialists and other leasing agents
  3. Train you to screen all applicants, including key statements that may lead to a desired ‘hang up’ eliminating time-wasting appointments
  4. Provide application and lease forms, and phone consultation.

Level Two

  1. Provide Rental Rate Estimate
  2. Advertise in-house to rental specialists and other leasing agents
  3. Personally phone screen all applicants (you have final approval)
  4. Arrange appointments for you to show the property
  5. Provide application and lease forms, and phone consultation

Level Three

  1.  Providing Rental Rate Estimate
  2. Advertising in-house to rental specialists and other leasing agents
  3. Agent-screening applicants according to your criteria (you have final approval)
  4. Arranging appointments and showing the property 
  5. Provide application and lease forms, and phone consultation
  6. Listing the rental property in the MLS system
  7. Providing signage
  8. Attending final negotiations and effecting lease documents
  9. Setting up monthly schedule of rental payments to be sent directly to you for deposit

Level Four includes all Level Three activities plus monthly rental management duties including deposit of rent to your trust account, tenants report problems to me, I arrange for estimates for repairs, etc., and submit to you for approval of work to be done and pay vendors from your landlord trust account, and provide itemized monthly statements. The fee is Level Three’s fee, payable at lease signing, plus 10% of monthly rent.

Call me to discuss the level of service you’d like me to provide for you, or to consult on adding to your portfolio.  I’ll teach you the good, the bad, and the ugly of selecting the right property for your investment portfolio.

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Chrystal Safari has over 15 years experience in personal property management and residential real estate sales and is a Luxury Home Specialist and licensed REALTOR® in North and South Carolina.  As a MASTERS Designation holder, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, and is a multi-million dollar producer.  Chrystal is a member in good standing of the Charlotte Regional Association of REALTORS®, North Carolina Association of REALTORS®, and National Association of REALTORS®.  As EcoBroker®, she offers guidelines to assist home buyers and sellers in evaluating true green features and their benefits to real property value, home ownership, tax savings and mortgage closing table capital contributions.  Chrystal is backed by certified and insured professionals to assess and protect your investments based upon your personal needs.  She can be reached at 704.562.1030 or Chrystal.Safari@gmail.com

YOU COULD RECEIVE $23,000 to buy this home!*

400 North Ridge Avenue, Kannaplois, North Carolina is a longtime family home new to the market.  It’s priced well below tax value for quick sale!

This home is approximately 1500 square feet and has updates including newer roof, newer kitchen, central heating and air conditioning. Imagine working in the Full Basement with Wired Workshop with ample Storage, and sharing meals and making memories in the Large Eat-In Kitchen with Breakfast Island, Wrap-around Deck entered from both the Utility/Mudroom and Master Bedroom, En Suite 3rd Bedroom w/Shower Bath, Formal Living Room with fireplace and Dining Room.  With Hardwoods throughout under the carpet, buyers can further update with your preferences. Sold As-Is.

Walk to BioTech Campus, Close to Highway 85, and moments away from shopping, dining, and entertainment.

This home qualifies for the Renovation Loan— receive up to $11,000 @closing to update with great 30 year fixed rates!  With Buyer Incentives from the seller and the government, as well as a special offering if you use me as your buyer’s agent, YOU COULD RECEIVE $23,000 to buy this home!*  

Buyers who are under contract by February 28, 2010, with me as Exclusive Buyer’s Agent may qualify for Peters & Associates, Inc., Cash Back @Closing Buyers Rebate Program* which can provide significant cash savings to you.  This Cash Back is reflected on the HUD Statement and can save you a considerable amount of closing costs toward items such as Legal fees, Disbursements, Property Tax, Title Insurance, Moving costs and others where applicable.

 While you wait for the Government’s Tax Credit, please accept the limited time offer of 33% Cash Back @Closing in appreciation of your business.  I hope it encourages you to work with me soon.

To calculate the potential cash back, multiply the Sales Price by 3% (where the Seller’s Agent pays the Buyer’s Agent 3% commission of the Selling price) and that subtotal by 33% for my Cash Back Buyer Rebate contribution on your behalf. 

EX: $110,000 sales price x .03 (Firm’s Buyer’s Agent Split of 3%) = $3300 x .33 = $1089 CASH Back Rebate amount.  This would be guaranteed up front in writing for you as part of my Buyer Agency Agreement with you.

I take pride in providing you the best possible real estate experience bringing my expertise and customer service to the transaction, & now you can saving money, too.

Contact me now and let’s discuss your next move! 

At your service,

Chrystal Safari
EcoBroker®/REALTOR®
704.562.1030

*$23,000 includes these items up to amounts given: Seller Paid Closing Costs of
$3,300, Cash Back @Closing Buyer’s Incentive of $1,089 (above), Rehab Loan Amount $11,000, & Tax Credit of $8,000 (expires April 30, 2010).  Restrictions apply.  Call for complete details.

Offering subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner.