By: Khila L. Khani, Esq.

At Khani & Auerbach, we are continuing to expand our minds with education and learning. This expansion is not just with the law, but in business, too! We are always pleased to share our knowledge with you, our friends, colleagues and clients. That being said, welcome to our first official LinkedIn publication.

As business owners, we are always seeking the most efficient way to market ourselves. These marketing techniques continue to change and rapidly evolve over time. The internet has greatly changed the landscape of marketing and at Khani & Auerbach, we are always ready to embrace these changes. Here are some predictions and explanations that may just blow your mind.

1. LinkedIn Will Continue to Be Important for Business-to-Business Networking and Growth.

Those of you who are seeing this on LinkedIn may notice that this platform is becoming increasingly important and for business. Some may continue to dismiss LinkedIn as viable form of marketing, but don’t be fooled! LinkedIn is still the leader of Business-to-Business marketing and out performs Facebook and Twitter. Bottom line: Keep investing your marketing dollars in LinkedIn.

2. Depending on Your Business, Image-Centric Networks Are Rapidly Becoming a Viable Form of Marketing

Some of you may ask, “What the heck is an ‘image-centric network'”? Image-Centric Networks are social network sites like Instagram, Snapchat and Pinterest. Pinterest seems to find greater activity among women, but Instagram and Snapchat have no gender boundaries. These image-centric networks, while they do not outperform Facebook, are definitely proving to be strong competition for the world’s greatest social networking scheme.

3. Don’t Ignore Google+!

The vast majority of entrepreneurs and business owners that don’t embrace this platform will end up finding themselves at a loss. Right now, Google+ is just beginning to be a tool for every business owner. Everyone has become so used to Facebook and Twitter as a form of marketing that they may find embracing Google+ to be too complicated. If you don’t know how to use Google+, learn how and start incorporating it into your marketing plan, now. Google is the best way to establish search engine ranking and as always, content is king! I was recently invited to formulate my custom URL for my Google+ profile. Within moments of receiving the invitation, I created my custom URL on Google+. See: www.google.com/+KhilaKhani Be on the lookout for +KhaniandAuerbach in the coming days!

4. Invest Your Marketing Dollars in Social Media (Twitter, Facebook, Instagram, etc.)

If you are in a small business, appoint someone in your office to be in charge of social media campaigns. Even the shortest bit of information will continue to keep your business fresh in the minds of your followers and/or potential clients. Investments in social media is no longer a luxury that only the wealthy can afford, but that everyone needs to embrace. Businesses have chosen to put the marketing budget dollars into social media and away from traditional forms of marketing.

5. Micro-Videos and YouTube Are the Future

Vine, Instagram and YouTube continue to be an important marketing tool. Vine is more popular with the 12-25 age group, Instagram seems to stretch beyond the 25 and older group, but as everyone knows, YouTube has no age limits. If you don’t embrace the opportunities provided in these videos, you will miss the marketing boat.

In closing, the future of social media marketing is in your hands. If you continue to embrace the marketing tools of the past and fail to take advantage of these opportunities, you may find yourself in a business without business.

By: Khila L. Khani, Esq.

So, you have found the home for you and you’re ready to make an offer. What next?

1. RESEARCH

When you buy a used car, you might research the previous owner and everything about the car using services like “Car Fax”. While there are no “Car Fax” companies for previous home ownership, there are things you can do to research a residential property. Knowing more about a property before you actually present an offer to the Seller will help you get a better deal and avoid wasting everyone’s time. Be sure to understand the overall housing market, local supply and demand of homes in the specific area you are looking to purchase, the physical condition of the house, how long the home has been on the market and what the real motivation for selling might be for the seller .

Just like anything else, the more knowledgeable you are the easier the process will be. While you might have a price in mind to offer, consider obtaining pre-approval from your lender. Going through this process may also give you a better idea of what you can afford and also put the Seller at ease that you have done your homework.

2. PRESENT THE OFFER

We would never recommend that you put an offer in writing, but rather, have verbal discussions during this process. Unless you are experienced in the purchase and sale of real estate, we highly recommend that you have the assistance of a real estate professional during this process, whether it be a Realtor or an Attorney. There are a variety of things to consider before presenting a contract. An experienced professional will know what to look for when presenting the offer. Before presenting the offer, it might also be a good idea to get an understanding of your credit. We actually recommend getting a copy of your credit report before making the offer, to be sure that you can obtain the loan you seek on the property. If you click here, you can find information about obtaining your credit history at no charge.

3. NEGOTIATE

After the initial presentation of the offer, you will likely receive a counter-offer from the seller that may include modifications or deletions of unsatisfactory terms. Most times, the price will be the sticking point, but as a buyer, you should always be prepared to negotiate. If you are not comfortable doing these things, a real estate professional (agent or lawyer) can assist you with this process.

Always remember, you have a budget and getting into a contract you know you can’t afford is something that transactions can suffer greatly from. The best thing to know is what you are capable of spending and if the deal doesn’t work for you (financially or otherwise), be able to walk away.

Finally, keep in mind that the loan approval process does not happen overnight and that a minimum of 30 days is needed to obtain the loan approval. Knowing that a lender may take that long to provide an approval, don’t set your closing date for 30 days after signing the contract, but maybe something longer. This article gives you a greater understanding of the Mortgage Loan Approval Process. Be prepared for anything! If all points have been agreed upon, all parties sign a contract, the next step is inspection.

4. INSPECT, INSPECT, INSPECT

Every professionally drafted contract for the purchase of residential real estate provides for an inspection of the property prior to closing. The time for the inspection usually kicks into gear immediately after the signing of the contract and lasts for a short period of time. Time is definitely of the essence and before you complete the buying process, it’s imperative that you have the property inspected by a inspection professional. Proper inspections usually focus on structural integrity, plumbing, roof condition, electrical maintenance, the presence of any pests and more. If there are items in addition to those listed, you must bring it to the inspector’s attention. We always recommend that the Buyer, or the Buyer’s agent, supervise the inspection. This completed inspection may reveal nothing or reveal everything. After an inspection, you will get a report outlining the details of the inspection. You may be able to use this information to renegotiate the price, other terms, leave everything the way it is or just walk away from the transaction entirely.

5. SECURE FINANCING AND CLOSE

After all the paperwork has been submitted for the transaction, your mortgage application is next. Remember, it may take up to 30 days to receive final approval from the lender. And, even after submitting the first round of documentation, you may be required to submit additional financial documentation, disclosure of additional assets and debts, provide an explanation of any credit issues, provide home and flood insurance or even obtain an additional appraisal verifying that the home’s value exceeds the mortgage amount. Sometimes, the approvals don’t come until the day of the closing, but once approved, you are free to close on your new home!

Khani & Auerbach is here to assist you in your real estate transactions, but if you follow the steps above, you are more likely to have an uneventful transaction and be the homeowner you had hoped to be!