After you’ve decide to make an offer on a property, you must submit an offer letter to purchase the property in writing. Your offer letter is a legally binding document that includes details such as: Buyer information such as your your name and current address Price you’re willing to pay for the home Deadline for… Continue reading Making An Offer
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Real Estate Appraisal
Real Estate appraisals are estimate of the properties market value. Appraisals are valuable to buyers as they provide a non-baised assessment of a properties’ value as compared to others in the local area. Appraisals are used to determine the risk of lending money for the purpose for buying a house. Banks use either a sales… Continue reading Real Estate Appraisal
Home Inspection
This is an absolute must. Hire a home inspector to thoroughly search the home for defects, old repairs, potential problems, and really anything that can bring down the value of the home. What is a Home Inspection? A home inspection is an independent visual examination of the physical structure and systems of a house of… Continue reading Home Inspection
Home Insurance
Homeowner’s insurance pays for losses as a result of damage to your property if something unexpected happens, like a fire or burglary. When you have a mortgage, your lender will require that your property is protected by home insurance. Lenders will generally require proof that you have homeowner’s insurance at closing. What risks does a home… Continue reading Home Insurance
Final Walkthrough
Final walk-through A final walkthrough is used to confirm that all requested and agreed to home repairs found during the home inspection were completed according to the terms of the contract. During the walk through, you should check the following: All repairs are complete House is in the condition listed in the contract House should… Continue reading Final Walkthrough
Signing the Paperwork
At closing, you have two major responsibilities: Signing legal documents: This includes the Closing Disclosure, promissory note, deed of trust and certificate of occupancy. Paying closing costs: This may include fees for your mortgage application, appraisal, survey and title search as well as paying your down payment. Your lender is required to provide a Closing… Continue reading Signing the Paperwork
Moving Day
It has been a long process: You planned your budget, found the home of your dreams, had your offer accepted, and signed the closing documents. There is only one final step – the move. If it fits in your budget, hire a professional mover. This will save you time and energy. At the very least,… Continue reading Moving Day
Why Tax-Lien Certificates Are a High-Stakes Bet for Only the Savviest Real Estate Investors
If you have been tempted by the idea of buying real estate notes, you will likely also be considering tax-lien certificates. This is also an advanced strategy best reserved for experienced investors who have money to gamble with. Tax Lien Overview Up-Front Investment: Varies by situation. Usually large. On-Going Investment: Just lots of time. Return… Continue reading Why Tax-Lien Certificates Are a High-Stakes Bet for Only the Savviest Real Estate Investors
Real Estate Investment Trusts Make Real Estate Investing Accessible to Almost Anyone
Real Estate Investment Trust (REITs) allow you to enjoy the income from owning real estate investing without hassle of buying and managing. REITs are very similar to stocks but for real estate! Overview REITs are a passive investment, requiring little low-capital way to get into the real estate market. If you want to get into real… Continue reading Real Estate Investment Trusts Make Real Estate Investing Accessible to Almost Anyone
Fix and Flip Properties
Fixer-uppers on the market tend to be listed at incredibly enticing price points, and that leads many investors to considering them very seriously. Overview Up-Front Investment: Purchasing a fixer-upper property, which may require more down due to the increased risk. On-Going Investment: Short-term investment to fix up home (and then any costs to own/maintain it until it… Continue reading Fix and Flip Properties
