When you are at the closing of a real estate transaction, you may hear the term “prepaid interest.” Here is what it means: prepaid interest charges are charged at closing for any daily interest that accrues on your loan between the date you close your mortgage loan and the period covered by your first monthlyContinue reading “What Is Prepaid Interest”
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Why Is Location Important When Buying A Home?
You’ve probably heard the old real estate saying, “location, location, location.” When you buy a home in a good location, it usually becomes a solid long-term investment. That’s why a home’s location is an important factor to consider. Read Also: Checklist For Your Final Walk-Through Here are some good location characteristics to look for: If theContinue reading “Why Is Location Important When Buying A Home?”
Checklist For Your Final Walk-Through
One of the last things you’ll do as a buyer prior to closing will be a final walkthrough of the property. The purpose of the walkthrough is to confirm that the house is in the same condition. It was the last time you saw it. Read Also: Questions To Ask When Buying A Condo Here areContinue reading “Checklist For Your Final Walk-Through”
Dealing With Low Ball Offers
The process of selling a home can include a certain amount of frustration, especially when a lowball offer is presented to the seller. A lowball offer is an offer significantly lower than the asking price and sometimes low enough to insult the seller. Lowball offers are, unfortunately, not uncommon in real estate. Remember that evenContinue reading “Dealing With Low Ball Offers”
Factors That Can Depreciate Home Values
There are a variety of factors that can depreciate the value of your home. Factors way beyond your control. The state of the economy can be directly correlated to the changes to real estate value. A weak economy means a higher unemployment rate which in turn decreases the purchasing capacity of the buyer. The resultContinue reading “Factors That Can Depreciate Home Values”
What Is A Counter Offer?
A seller can respond to a buyer’s offer with changes or a counter that improves the terms. You need to put yourself in their shoes and construct a modified offer that you think they might accept that meets more of your needs. Then it’s their turn to accept, reject, or construct yet another counter. It’s an efficientContinue reading “What Is A Counter Offer?”
Things That Turn Off Potential Buyers
When you’re living in your home, it’s easy to overlook certain things because you see them every day. But when you’re getting ready to sell your home, it’s important to look at things through the eyes of potential buyers. And to make sure you’re addressing anything that might turn them off. Read Also: Critical Elements Of A Real Estate Sale.Continue reading “Things That Turn Off Potential Buyers”
Critical Elements Of A Real Estate Sale
Several factors can have a major impact on how long your home stays on the market and what the eventual sale price might be. The listing price is probably the most important factor. You don’t want to over-price or underprice. The home’s market value will be determined by how much a buyer is willing to pay. TheContinue reading “Critical Elements Of A Real Estate Sale”
When Is A Commission Due?
When a seller signs a listing contract to sell their property with a broker, the seller agrees to pay the broker a stated commission. If the broker sells the property during the period of the listing contract, the commission to the broker is due if the broker brings a qualified buyer who is ready, willing, and ableContinue reading “When Is A Commission Due?”
What Is A Title Search?
A title search is a way to determine whether the person selling a property really has the right to sell it. It protects the buyer by confirming the property’s legal ownership. And, finding out if there are any claims on the property. Several things that are examined during a title search chain of title are: This isContinue reading “What Is A Title Search?”
