FAQs
Buyer Frequently Asked Questions
MLS is an acronym that realtors use when referring to the Multiple Listing Service. The MLS is the central database that realtors use to find information about properties currently for sale, properties that are pending, and properties that have sold.
A closing date will be negotiated as part of the purchase agreement. If you are financing your purchase you can expect your closing date to be 45-60 days from an accepted offer. Your loan officer or mortgage broker will need this time to process the loan and have an appraisal performed and to receive final approval from the lender. Cash buyers can expect to close much faster.
Prior to meeting with an agent and scheduling showings you will need to obtain a pre-approval letter from a loan officer or mortgage broker for an accurate assessment of what you can afford. Most sellers will require this letter as proof that you will be able to obtain a loan to purchase the property before consideration of an offer.
The seller typically pays the commission of both the listing agent and the selling agent, although there can be few exceptions. The commission is usually a percentage of the sales price which is paid to the listing agent’s broker. The listing broker will in turn pay your realtor’s broker a percentage of the commission. No commissions are paid unless the closing is successful.
Yes. There are several reasons why getting a home inspection is a smart choice. A home inspection will help determine the condition of the home and any items that need to be addressed. An inspection addendum can be made part of the purchase agreement which allows you an agreed upon time period to complete an inspection. If there are any repairs that need to be done, it is important to uncover them during this period.
The home inspection is most commonly paid for by the buyer. There are some occasions where the seller will hire a home inspector to prepare a report as a courtesy prior to listing the home.
Seller Frequently Asked Questions
The listing price heavily depends on the expertise and market knowledge of your broker and realtor. The goal is to sell your home quickly and for the highest price possible. Here are some factors that can influence the price of your home:
- Current real estate market conditions including recently sold homes and available inventory.
- The interior and exterior condition of the home, as well as landscaping and outdoor features.
- Hard facts such as lot size, square footage and location.
No one has a more important role in the selling process than you. Here are some ways your participation can contribute to a successful sale:
- Keep your home clean and tidy and avoid unnecessary clutter.
- Be flexible and allow access for showings, even when it is short notice.
- Be available to your Garnet realtor, communication is key when trying to sell your home.
- Remove or lock up valuables.
- Limit conversations with buyers/agents regarding price.
Studies show that most buyers have been researching their desired areas for 6 month on average before they make a purchase. Most of the buyers that come through your home will do so during the first two weeks that your home is listed. The buyers and their agent have also done their research and are aware of current market values. If a home is overpriced it will have to compete with properly priced homes. Overpriced listings typically end up with multiple price reductions and longer market times.
As they say, “You only get one chance to make a first impression.”
You can start by decluttering rooms, counter-tops, walls, and closets. Too many “things” make it difficult for the buyer to see their possessions in your home, but don’t strip everything or your home will appear stark and inhospitable.
- Clean and arrange furnishings in a way that will showcase the room’s size and natural light exposure.
- It is especially important that the kitchens and bathrooms are spotless. Make sure the basic appliances and fixtures work and replace leaky faucets.
- Make sure the house smells good. Start by refreshing carpets and upholstery with baking soda. Simple reed diffusers can be a good solution in small spaces. Choose neutral fragrances such as lemon and orange, vanilla, and light herbal blends. Baking fresh cookies is always a crowd pleaser!
It is also important to consider is “curb appeal”. People driving by a property will judge it from outside appearances and make a decision then as to whether or not they want to see the inside. Sweep the sidewalk, mow the lawn, prune the bushes, weed the garden and clean debris from the yard. Clean the windows (both inside and out) and touch up any chipping paint.
Renter Frequently Asked Questions
You may make a rent payment in the following ways:
- Pay Online through your Tenant Portal.
- Pay by mailing payment to Garnet Real Estate Services at 305 Greeley Street S. Suite 200, Stillwater, MN 55082.
- Pay at the office Monday-Friday 10:00-5:00 or place in after hours drop box.
There are strict rules regarding business use in rental properties. Please contact our office and our experienced staff can assist with any questions.
Pets must be authorized by management. If permission is granted, you will need to sign a pet addendum to the lease and pay a pet fee. Pet fees are typically $300.00 per pet and are non-refundable. Any damages caused by the pet will be deducted from your security deposit. For insurance reasons, the following pet breeds will not be accepted: AKITAS, AMERICAN PIT BULL TERRIER, AMERICAN STAFFORD SHIRE TERRIER, CHOWS, DOBERMAN PINSCHERS, MIXED WOLF BREEDS, PIT BULLS, PRESA CANARIO, ROTTWEILERS. We also do not allow PUPPIES AND KITTENS LESS THAN 1 YEAR OLD. Other pet restrictions vary by property and are subject to change at any time.
A move in condition report and photos will be taken upon move in. If damage due to negligence or neglect to the home are caused by you or anyone you allow into the home the repairs will be billed to you. Normal wear and tear items will not be charged to you.
If you need maintenance in your rental home, there are several ways to let us know:
- Log in to the Portal Login page and submit a maintenance request.
- Call our office at 651-491-8005 during business hours.
- For emergencies after hours, please call the Emergency number at 651-492-5652.
Property Management Frequently Asked Questions
Garnet will guarantee every tenant that we place for you for the first 6 months of the lease. If for some reason the tenant breaches the lease and cannot fulfill the full term of the original lease, Garnet will place a new tenant for you with no leasing fee. Any maintenance or turnover fees not covered by the tenant or their security deposit will be the responsibility of the owner.
No. Security deposits paid by the tenant are held in a trust account during the tenancy. As required by Minnesota law, Garnet will return the deposit to the tenant within 21 days of move out minus any damages beyond normal wear and tear. The tenant will also earn interest on their security deposit for the period that it is held as required by the State.
Garnet offers Spring and Fall Inspections to all owners or by request at any time. These highly recommended inspections include an interior and exterior report with photos that will be emailed to you. A copy will also be uploaded to your owner portal. The purpose of these inspections is to check for deferred and preventative maintenance items, evaluate tenant care of the home, check for any unauthorized pets or persons, or any breaches of the lease.
Garnet will also periodically perform drive-by inspections. Any time there is a maintenance request at the property our staff will keep an eye out for any noteworthy items.
Rents are due from the tenants on the 1st of each month. Our goal is to have a direct deposit initiated to your account by the 15th of the month. This may vary due to weekends, holidays or late tenant payments. The ACH direct deposit will reach your account within 2-3 days after it is initiated by Garnet. The deposit will include rents collected minus the management fee and any repairs or expenses. You will have statements uploaded to your owner portal each month.
Hoa Management Frequently Asked Questions
- Board assistance and on-going training and support.
- Attendance at board meetings and workshops and assistance with member mediation.
- Collection of monthly fees (A/R).
- Monthly accounting services (A/R) and reporting.
- Annual budget preparation and reserve study preparation.
- Handle bid process for contract services and major repair work.
- Litigation assistance.
- Rule enforcement.
- Oversee all resale transactions.
- Assist board or committee with obtaining appropriate insurance coverage.
Garnet Real Estate Services enjoys working with and encouraging board directors in the process of leading the community, directing the day to day operations of the association, and offers online and in person training for all members.
We provide assistance and direction to your board of directors in determining the policies and procedures that will enhance the betterment of your community.
Simply call our office and schedule one of our agents to come to your next meeting and share what Garnet can do for your association.
We have a maintenance specialist on call. Just call the emergency number and service will be dispatched as soon as possible.
HOA Frequently Asked Questions
Go to the Portal Login page and select the maintenance request login, or call 651-491-8005. After hours emergency please call 651-492-5652.
Yes. Improvements to your unit require prior approval.
Each rental situation is unique. Any installation of any type requires prior approval.
Subleasing is not allowed and is stated in your lease.
Contact the office to confirm pets are allowed. If you are approved for a pet all criteria (owner approval, pet fee, association restrictions) must still be met.
Your lease will state the required amount of time to give your notice to vacate, typically it is 60 days.
If all parties agree to the move and the remaining tenant/tenants qualify, a roommate can be removed from the lease. In all other instances the roommate is contractually obligated to fulfill the lease.
All tenants/prospects must complete an application and be approved to move into a property.
All refundable monies is divided equally to each person listed on the lease.
Rent is DUE on the 1st day of the month. Late fees are applied at 5:00p.m. on the 4th of each month.
Late fees can not be waived.
Common area maintenance such as lawn care and snow removal are covered by your HOA dues. Maintenance inside the residence is covered by the home owner. Check with your associate for specific guidelines, or contact Garnet and we can help assist with any questions. Garnet also has a “preferred vendor” list. In the event that your home may require maintenance we would be happy to help find you a reputable service company.