Are you thinking about buying your first home? We have information that can help! Our First Time Buyers Checklist can help you start and track on your journey to real estate ownership. Overview Owning your home is the most common and well-known real estate investment. You don’t get cash flow from tenants but you make… Continue reading First Time Home Buyers Guide
Plan Your Budget
We all want to own a home. But before you turn your dreams into reality, you must take a careful, objective look at your finances. Ask yourself: Can I really afford a home? Here is the reality. Very few first-time home buyers have the cash reserves to purchase a home outright. You will have to… Continue reading Plan Your Budget
Using A Real Estate Agent
Real estate agent are trained professionals that help you navigate the home buying or selling process. Real Estate Agents are called Different Things Real Estate Agents are generally called realtors . Realtors assisting with buying a home are referred to as Buyers Agents. Those assisting sellers are called Seller Agents. How do Real Estate Agents… Continue reading Using A Real Estate Agent
Open Houses
An open house is “a scheduled time when a house for sale is designated to be available for viewing by potential buyers” according to Investopedia. You and your real estate agent visit an open house to access its features, livability and make a decision to submit an offer. Mistakes most home buyers make Many home buyers… Continue reading Open Houses
Making An Offer
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
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
