You have found the home of your dreams and are prepared to make a purchase offer. Before you do, make sure you find out what stays with the house and what goes with the seller. Making the assumption that you get everything you see can result in unpleasant surprises and even heated disagreements. To avoid disappointment and disputes, … Continue reading Personal Property: What’s included in your Home Purchase?
Category: Buying a Home
Escrow Agreements and Real Estate Transactions
Escrow comes into play whether you are buying or selling real estate. In fact it is among the important components of your transaction. It is also among the most confusing. Most people have little more than a vague impression of what escrow means, why it is important, and what role it plays in a real estate transaction. To help … Continue reading Escrow Agreements and Real Estate Transactions
Real Estate: Property Easements
The Basics Almost every property has easements – legal rights that others have to use parts of a real estate owner’s property. Despite their prevalence, easements are often misunderstood. And in some instances, people are not even aware that easements exist. As a property owner or prospective real estate buyer, you benefit from a basic understanding of easements. That … Continue reading Real Estate: Property Easements
Appraisals and Your Home Mortgage Loan
When you get a mortgage loan to buy your home, your lender will require an appraisal to confirm the value of the property. Why? The property serves as collateral for your loan, and lenders want to be sure that they can at least recover the amount loaned if they have to sell because of default. With your final … Continue reading Appraisals and Your Home Mortgage Loan
Buying a Home: Bidding and Making an Offer in a Sellers Market
In a sellers’ market — when the supply of homes for sale is low and buyers are plentiful — you could easily find yourself competing against other buyers for a home. What are some of the things you should consider before joining the bidding competition? And if you do jump into the fray, how can you improve … Continue reading Buying a Home: Bidding and Making an Offer in a Sellers Market
Community Living: Is It Right For You? Condominiums, Townhouses & Cooperatives
Is a traditional single-family home out of your price range, too much upkeep, or just not your style? Then community living – condominium, townhouse, or cooperative – may be a practical solution for you. All three dwellings are forms of attached housing, a setting where you share common walls. These homes come with minimal maintenance responsibilities and are … Continue reading Community Living: Is It Right For You? Condominiums, Townhouses & Cooperatives
Home Buying: Location Matters
You have many important decisions to make when buying a home. One of the most crucial relates to location. Choosing the right location matters because it has implications for two significant areas: quality of life and resale value of your home. So, what kinds of things do you look for when trying to find the location that positively … Continue reading Home Buying: Location Matters
What does the Monthly Mortgage Payment include? Taxes, Interest & Principle
With mortgage interest rates being at an all time low, many lenders have recommended to their customers different options when buying or refinancing their mortgage. Dependent upon the amount of years they plan to live in their home, more and more mortgage options have been reintroduced into the market and banks have now pushed some of … Continue reading What does the Monthly Mortgage Payment include? Taxes, Interest & Principle
Basics of the Housing Market: Cycle, Home Buyers & Sellers
If you have been looking to purchase or sell real estate, you may have heard the terms sellers’ market and buyers’ market. You may also have wondered what these terms mean and how each market impacts you as a buyer or seller. Here is a brief explanation. What are the different markets?When there are more buyers than … Continue reading Basics of the Housing Market: Cycle, Home Buyers & Sellers
Straight Talk about Mortgage Loan Points
When you are shopping for a mortgage loan, interest rates are most likely at the top of your mind. As you shop lenders for the best rate, however, you will hear another term linked to the interest rate. That term is “points.” For instance, a lender may quote an interest rate of 5.25 percent plus two points. As a … Continue reading Straight Talk about Mortgage Loan Points