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| SELLERS PLAN |
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For most people, selling their home is a BIG decision, financially and emotionally. You have questions and the whole process feels overwhelming . . . but selling your home doesn't have to be stressful, and choosing the right REALTOR® can make all the difference.
We will market your property to other real estate agents and the public. Often, we can recommend repairs or cosmetic work that will significantly enhance the salability of your property. We market your property to other real estate agents and the public. In many markets, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. We act as the marketing coordinator, disbursing information about your property to other real estate agents through our local Multiple Listing Service, MRIS, and other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires us to utilize these cooperative relationships when they benefit their clients
We know the market and understand when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with our help, you do not have to allow strangers into your home. We will generally prescreen and accompany qualified prospects through your property.
We can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. We will help you write a legally binding, win-win agreement that will be more likely to make it through the process.
We will help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. We are the best people to objectively help you resolve these issues and move the transaction to closing (or settlement).
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CHOOSE THE RIGHT LISTING AGENT |
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| Not all real estate agents work the same way. The most important attributes of a listing agent are: |
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Sells real estate FULL-TIME! Selling your home is a full time priority and your agent needs to be available to you and prospective buyers. |
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Knows the market – what is currently listed and the history of properties to lend valuable perspective when it comes to pricing and positioning. |
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Understands your needs and will be honest and assertive with you and buyers/buyer’s agent. |
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Has extensive LISTING experience – since working with buyers requires a different skill set/approach. |
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Has a track record of investing in marketing – and will provide a comprehensive written marketing plan for your home. |
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Provides advice on how to stage your home to show at its best and recommends aesthetic updates that will significantly increase the perceived value of your property. |
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| KNOW WHY YOU ARE SELLING |
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If you know why you are selling, it is easier for you and your agent to determine a plan of action to get exactly what you want. For instance: if you need to close a sale as quickly as possible, then you should know that getting the highest price is not your highest priority. This does not mean that you won’t or can’t get the highest price, but there may be tradeoffs as you decide between an offer with a lower list price and quick close versus a buyer with a full price offer requesting a 60 day settlement.
So, identify your "bottom line" price upfront (i.e. the lowest price you will accept from a buyer). Although this figure should never be disclosed externally, it is important information that we will use to determine an optimal pricing strategy and negotiating position. Even though you should consider all offers and take into consideration the total terms of each (i.e. price, settlement date, financial qualifications, contingencies, etc.) knowing your bottom line saves time by eliminating low-ball offers and enables us to determine the proper tactic to get what is important to you in the negotiation.
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| IMPORTANT LESSONS LEARNED |
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| These are few important lessons to remember as you prepare to sell your home: |
| Buyers want to see and agents want to show houses that are good buys |
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FACT: A buyer is more likely to make a full-priced offer on a home that is priced right, before making a low offer on a home that’s priced too high.
FACT: Houses that remain on the market a long time tend not to be shown. |
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| Be willing to make smart investments in important aesthetic elements of your home. |
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A good first impression can influence whether a buyer writes an offer or not. For example: invest in landscaping – curb appeal matters.
Fix things that could be considered “red flags” (i.e. leaks).
Invest in important aesthetic updates (i.e. painting, floors, minor kitchen and bath updates, etc.). Your return should be at least double the expense.
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Your cost or profit desire is irrelevant. The market determines the price.
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It is very difficult for a seller to evaluate their home objectively. In a balanced market, it is important to determine the fair market price of your home given it’s location and condition relative to other properties currently active. Historical comparables are much less relevant since the market has cooled.
Assume the buyer is educated, savvy and has done their research |
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| Houses that are marketed well will move fastest and garner the most money |
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Open houses seldom sell houses – they generate interest/buzz when first listed, however, 95% of homes are sold as the result of an agent or buyer inquiry thru the internet lead. It is better to have a few qualified buyers touring your home than large numbers of random people, most of whom are not actively househunting.
Networking with agents and advertising via the internet and targeted print publications has been proven to yield the most results. |
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| AGGRESSIVE MARKETING IS A MUST! |
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You are paying a listing agent commission to ensure that your home is professionally marketed. Properties that are not marketed aggressively within the first few weeks of listing, tend to stay on the market longer, become stale and garner lower price offers. Marketing is our background and one of our FAVORITE parts of the job. We develop a comprehensive marketing plan for each property, tailored to the type of buyer that will most likely purchase the property. This plan gives us a road map – so that we are on the same page with regard to activities and expectations – and will likely may include the following advertising mediums:
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| STAGING/POSITIONING |
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Home staging consultation |
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Quality photography |
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Virtual tours |
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Detailed professional brochures |
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Financing information |
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Floor plans (as needed)
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| PRINT ADVERTISING |
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Daily Newspapers – for open houses, the Washington Post |
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Targeted Weeklies – The Currents, Georgetowner… |
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Monthly Local Magazines – Washingtonian, Washington Life, The Diplomat, etc. |
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| DIRECT MAIL CAMPAIGN |
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Just Listed Cards |
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Custom Campaigns |
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| AGENT NETWORKING |
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Email campaign sent to database of upper-bracket agents (approx. 2000) |
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Frequent Flyer campaign to regionally targeted agents |
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Preview tours for agents prior to listing |
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| OPEN HOUSES |
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Public Open houses |
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| INTERNET MARKETING |
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| Each marketing plan is different – but will include a variety of marketing tools outlined above, to attract the target buyer. |
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| Home Selling Tips |
| Quick, cost-effective ways to spruce up your home |
Why stage a house? Buyers can only imagine what they see, not what it's going to be. Whether you want to spruce up your home for your own pleasure or boost its bottom line, stagers' advice can give your house an amazing new look. Here's how: |
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| Start at the street |
"Curb appeal" isn't just a fancy phrase created to boost landscapers' income. It's a crucial first impression that can make buyers either wary of stopping to look or eager to step inside. Be sure your lawn and gardens look great, trash cans and bikes are put away, house numbers are attractive and easy to see, the front door is spectacular (because you have replaced it or painted it and perhaps updated the hardware), and that you have some attractive potted plants by the door. |
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| Remember the foyer |
The second first impression comes the minute a potential buyer steps inside your home. Coats on a rack, shoes underneath and keys and other doodads in a dish on a console table may mean you're a fabulous organizer, but it is not the way to sell a home. Put the coats and shoes in a closet, the keys in your purse and a vase of flowers on the table. |
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| Try the 1/4 to 1/2 rule |
While a few homes out there have too little furniture and too few accessories, the vast majority have way too much. You don't just want to straighten up your clutter, you want to remove it. Consider putting at least one-quarter of your furniture in storage, one-third of your books in boxes and at least one-half of your knickknacks away. Use the same rule with cabinets, closets and counters. If they are stuffed full, buyers will think they're too small. Keep them tidy and one-third to one-half empty (place just a few things on each shelf). Don't forget to pare down your outside furnishings and accessories, too. |
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| Clean 'til you drop |
Or hire a cleaning crew to come regularly while your home is on the market, or at least for a one-time super-cleaning. Don't skip windows (inside and out), behind the toilet, bathroom grout, under sinks. Actually move your furniture to vacuum behind and under it. |
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| Arrange furnishings to highlight the architecture |
Take advantage of views and fireplaces. Spruce them up by framing or highlighting them, not covering them up or weighing them down. Put tall objects (furniture, vases, paintings or plants) against tall walls. Highlight, don't block, the traffic flow. Grab a couple of sturdy friends and play with different ways to arrange your furniture. Again, pay special attention to your friends' opinions. |
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| Use rooms as they were intended |
Take the exercise equipment out of the guest room and put a bed back in. Put a table and chairs in an eat-in kitchen. Get the home office equipment and filing cabinets out of your little-used dining room and set the table for company (or just put a nice vase of flowers on top). |
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| Fix what's broken |
Buyers look for flaws to help lower the sales price in negotiations. That wobbly stair rail may still support you and the crack in the ceiling plaster may not be structural, but it'll leave buyers wondering what else is not quite right. No matter how minor the problem, take your toolbox around and start fixing. |
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| Update what you can |
Tired home is often thanks to tired paint or furnishings. A new coat of neutral-toned paint is a buyer-pleasing backdrop. Remove outdated furniture; trade sofas with a friend or relative while your house is on the market, ditch yours and buy new, or store yours and rent or borrow a more contemporary style. Tired area rugs (or too many of them) detract from nice wood floors. Shag or other old-fashioned carpeting will turn buyers off. Replace it if you can; clean it if you can't. Update a tired kitchen with an inexpensive new countertop, new cabinet doors, or even just new cabinet hardware. |
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| Erase your personality |
Love Hummels? Bummer. Collect fishing lures? Too bad. Think that colorful painting is quirky and fun? At least half the people who see it won't. Box up your collections, your personal photos, and anything you wouldn't expect to see on the floor of a furniture showroom. (Nondescript art is fine; art with attitude is not.) And put away blow dryers, makeup and toothbrushes. Buyers need to imagine themselves in your home, not wonder what its current inhabitants are like. |
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| Invite over honest friends |
Ask two or three of your most forthright friends to look through your house with the eye of a home buyer: What needs changing? The smell of pets? A cracked window? Not-so-clean appliances? What's acceptable for daily living isn't likely to impress a buyer. |
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| Find storage away from your house |
It is tempting to shove all the boxes of extras into the basement or garage, but buyers will be looking there — judging how big they are. Make them as empty as possible by renting a storage space or borrowing a neighbor's or relative's garage for a while. (For last-minute things — a stack of papers, a handful of dirty clothes — you need to put away before a showing, stash them in the washer or dryer or under beds; most buyers never look there.) |
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| Listing Process |
| Under Construction |
| DC |
| SETTLEMENT COSTS – DC |
| Estimated Costs |
| A Settlement Sheet is divided into several categories as follows: |
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| » Title Items: |
| Seller's Fees |
| Real Estate Commission |
Negotiable |
| Settlement Fee |
$300 |
| Doc Prep/Notary |
$50 |
| Prepare and Process Payoff |
$100 per loan |
| Deliver/Fax/Copy/Admin Fee |
$18.75 |
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» Title Examination
» Payoffs Release Tracking $35 each
» Title Clearance (if necessary) $110-210/hour |
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| TAX RATES |
| Washington, DC Property Tax Rates: |
| (DC property tax year runs from October 1st through September 31st and are due March 31st for the period from October through March and September 15th for the period from April though September) |
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| DISTRICT OF COLUMBIA: (202) 727-4829 |
| RECORDATION TAX |
1.1% (purchases < $400,000) |
| RECORDATION TAX |
1.45% (purchases >= $400,000) |
| TRANSFER TAX |
1.1% (purchases < $400,000) |
| TRANSFER TAX |
1.45% (purchases >= $400,000) |
| PROPERTY TAX |
All Residential Property (under 5 units) |
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$0.88 per 100 assessed value* |
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DC Real Property Tax Rates |
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*DC exempts the first $60,000 if you occupy the property as your principle residence and you file a homestead deduction application. Once the deduction has been in effect for a full tax year, DC will not increase your taxable assessment by more than 12% per year. |
| **Effective October 1, 2006, both the DC transfer and recordation |
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| Maryland |
| SETTLEMENT COSTS - MD CLOSINGS ONLY |
| Estimated Costs |
| A Settlement Sheet is divided into several categories as follows: |
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| » Title Items: |
| Seller's Fees |
| Real Estate Commission |
Negotiable |
| Settlement Fee |
$300 |
| Doc Prep/Notary |
$50 |
| Prepare and Process Release |
$170 per loan |
| Deliver/Fax/Copy/Admin Fee |
$18.75 |
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» Title Examination
» Multiple payoffs (refis) $35 each
» Title Clearance (if necessary) $110-210/hour |
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| » Montgomery County, Maryland Fees* : |
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Borrower |
Seller |
| State/County Transfer Tax (1.5 %) |
0.75 % |
0.75 % |
| County Record ($6.90/1000) |
$3.45/1000 |
$3.45/1000 |
| Maryland Recording Fees |
| Deed |
$40 |
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| Deed of Trust |
$40 |
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| Releases |
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$40 |
* Variances may occur after application of first time homebuyer, low-income homebuyer, and other tax abatements as well as recently pending and enacted tax reductions at state and county levels. County taxes vary. |
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| » Miscellaneous fees if applicable: |
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Borrower |
Seller |
| Survey |
$175 - MD |
N/A |
| Termite Inspection |
$65 |
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| Additional Wire/Courier/Overnight |
$35 |
$35 |
| E-Storage Fee |
$45 |
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| VIRGINIA |
| SETTLEMENT COSTS - VIRGINIA CLOSINGS ONLY |
| Estimated Costs |
| A Settlement Sheet is divided into several categories as follows: |
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| » Title Items: |
| Seller's Fees |
| Real Estate Commission |
Negotiable |
| Settlement Fee |
$150 |
| Deed Preparation |
$100 |
| Doc Prep/Notary |
$50 |
| Prepare and Process Payoff |
$100 |
| Deliver/Fax/Copy/Admin Fee |
$18.75 |
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» Title Examination
» Payoff Release Tracking (refis) $35 each
» Title Clearance (if necessary) $110-210/hour |
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| » Virginia Fees (County and State taxes are per $100) : |
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Borrower |
Seller |
| VA County Transfer Tax - Deed |
.08333¢ |
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| VA County Transfer Tax - Deed of Trust |
.08333¢ |
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| VA State Tax - Deed |
.25¢ |
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| VA State Tax - Deed of Trust |
.25¢ |
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| VA Grantors Tax |
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.10¢ |
| VA Recording Fees |
| Deed (approx. - calculated by number of pages) |
$33 |
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| Deed of Trust (approx. - calculated by number of pages) |
$46 |
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| Releases (approx. - calculated by number of pages) |
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$34 |
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| » Miscellaneous fees if applicable: |
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Borrower |
Seller |
| Survey |
$350 |
N/A |
| Termite Inspection |
$50 |
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| Additional Wire/Courier/Overnight |
$35 |
$35 |
| E-Storage Fee |
$45 |
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| Moving Checklist |
| SUGGESTED CHANGE OF ADDRESS CHECKLIST |
| Accountant |
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Insurance - Auto |
| Automobile Association |
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Insurance - House |
| Banks |
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Insurance - Life |
| Barber/Hair Dresser |
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Internet Service Provider |
| Book Club |
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Investments |
| Bottled Water Delivery Service |
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Landlord, if your are a tenant |
| Business Associates |
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Laundry Service |
| Cable/Satellite TV Service Provider |
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Lawn Maintenance Service |
| Cellular Phone Service Provider |
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Lawyer |
| Charity/Non-profit Organizations |
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Library |
| Church |
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Magazine Subscriptions |
| College |
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Mail Order Accounts |
| Credit Card Companies |
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Movie Rental Clubs |
| Daycare |
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Newspapers |
| Dentist |
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Pet Groomer |
| Department Store Charge Accounts |
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Pharmacist |
| Diaper Service |
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Pool Maintenance Service |
| Doctor |
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Post Office |
| Driver’s License |
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Professional Associations |
| Dry Cleaner |
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Schools |
| Electricity Company |
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Snow Removal Service |
| Employer |
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Social Security Administration |
| Finance Companies (car loan) |
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Sports Clubs |
| Frequent Flyer Clubs |
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Stockbroker |
| Friends and Relatives |
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Tax Assessors |
| Garbage Collection Service |
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Telephone Company |
| Gas Company |
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Vehicle Registration |
| Golf Club |
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Veterinarian |
| Government (Tax Records, Etc.) |
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Video / DVD Club |
| Grocery Deliver Service |
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Volunteer Associations |
| Hair Stylist |
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Voter Registration |
| Health and Fitness Club |
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Water Company |
| Health and Hospital Insurance |
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| House Cleaning Service |
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| Arrival Kit Checklist |
| Here are some suggestions for what you may need immediately upon arriving at your new home. The box should be marked, “LOAD LAST, UNLOAD FIRST.” |
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| MOVING TIPS CHECKLIST |
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| And Do Not Forget to: |
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Empty Freezer: plan use of foods |
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Defrost freezer/refrigerator: Place charcoal to dispel odors |
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Have appliances serviced for moving (if applicable) |
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Plan for special care needs of infants, children, pets, etc. |
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Call Cable company and/or leave remote antenna equipment |
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Clean rugs or clothing before moving |
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| And on Moving Day: |
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Carry all currency, jewelry and documents yourself (or use registered mail) |
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Plan for transporting pets; they are poor traveling companions if unhappy |
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Carry traveler’s checks for quick, available funds |
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Double check closets, drawers, shelves to be sure they are empty |
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Leave your old keys (needed by the tenant or owner) with the appropriate person |
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Get the name of the driver and give him your contact information. Also review directions to the new. |
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Have the final payment for the movers and money for a tip (if satisfied with the job, about $25/mover is recommended.) |
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