When you and the seller have signed an agreement on the terms of the sale, you’ve got a ratified contract. Now you enter the final stage of the home-buying process, which is called escrow. Escrow Escrow means putting something in the hands of a neutral third party. Depending on where Read more…
It’s rare for a seller to accept a first offer from a buyer. More often, the seller either rejects your offer in favor of another or responds to you with a counteroffer. A counteroffer is usually a one-page sheet that specifies the precise parts of your purchase contract that the Read more…
While hunting for a house, it’s crucial to remain realistic, organized, and a bit thick-skinned. If you don’t approach the process with a clear sense of your budget and expectations, you can either get carried away and buy a house you can’t afford or, out of frustration, settle for less Read more…
When you buy a home, you’re also buying the neighborhood surrounding it. The neighborhood is important not only because you’ll have to live in it but also because the neighborhood’s quality will have a big impact on the appreciation value of your home. Before you start hunting for an individual Read more…
A lender considering whether to approve you for a home mortgage will examine your credit history—your record of paying back loans, including credit card bills. If you have a “good” credit history of repaying loans on time and in full, you can usually get approved for loans with lower interest Read more…
Though you’re not required to use a real estate agent when buying a home, a good agent will make the process much easier for you. Besides, a real estate agent’s services usually are free for the home buyer. It’s the seller who pays all broker fees. What Real Estate Agents Read more…
Buying and owning a home is almost always a better financial decision than renting. Yet buying a home isn’t always the right decision for everyone. So before you jump into the home-buying process, it’s a good idea first to figure out whether you should be buying a home at this Read more…
A real estate lawyer can answer your questions, assist you bargain, and take care of a lot of the tiny things you might not be aware of if you’re a first-time buyer or purchasing or selling a home without the help of an agent. Steps: 1. Seek referrals from friends, Read more…
Why not buy a vacation property in a distant country if you enjoy being in foreign locations for extended periods of time? Steps: 1. Evaluate the cultural differences between your home nation and the foreign place you’re contemplating to see if you’d appreciate spending several weeks or months each year Read more…
For many people, a home is their largest investment – and potential source of capital. Getting a second mortgage, or a home equity loan, can tap that equity for college, home improvements or other pressing financial needs. Steps: 1. Determine why you need or want a second mortgage. The level Read more…