A big part of making a prudent buying decision is ensuring that you know what you’re getting. When it comes to buying a house, you want to takes steps to find out if there are any issues with it. If there are, you’ll want to identify how serious the problems are and whether or not they will influence your decision to go through with the deal.
If you’ve got a big expense to pay for, you may not necessarily have to take out a personal loan if you don’t have the liquid cash to cover it. Instead, you may be able to pay for the expense with the equity you’ve built up in your home, if you have any.
Over the past decade, millions of Americans lost their homes due to foreclosure after the devastating housing crisis hit the country back in 2008. Not only is losing a home to foreclosure emotionally distressing, it can also wreak havoc on your credit score. Taking a major ding on your credit rating can seriously hamper your ability to take out another mortgage, or any other type of loan for that matter.
For many Americans, homeownership is a major goal in life. While many may be content renting into the foreseeable future, many others hope to one day have their name on title of a property they can call their own.
Many homeowners choose to renovate their homes rather than moving to a new place. Improving your home can help update the construction and systems, add more much-needed space, or add a higher level of convenience for all household members to enjoy.
Considering buying an older home? There are plenty of benefits of taking this route versus buying new construction. Older homes have a lot of character, are usually located in more established neighborhoods that are closer to urban centers, and are typically surrounded by mature greenery. That said, older homes may also require some improvements considering the aging of the construction materials.
There are different ways to hold title of a property. While joint tenancy and sole ownership tend to be more common, there are other less common ways to own real estate, including ‘tenants in common’. There really are no limits on how many people can be on title to a home, though realistically, lenders will have specific requirements that can restrict who is allowed to be on title.
For sellers, a short sale is not an ideal way to sell a home. But for buyers, it may be a great way to snag a great deal on a home. That said, a short sale is not exactly like a conventional sale, and there could realistically be a few hurdles for buyers to have to jump over before this type of real estate transaction comes to a close.
After searching for a new home, negotiating an offer, and going through escrow, buyers are aware of the steps that need to be taken to ensure a successful transaction. But the work isn’t over just yet. As soon as you get the keys to your new abode, there are a few things that need to be tackled before you kick your feet up.
After searching for the perfect place to call home, you finally find one that perfectly suits your family and lifestyle. You decide to put in an offer and cross your fingers that all goes well at the negotiating table.
