Mortgages are like any other loan, except bigger. Getting a mortgage also comes with more up-front costs. What is a mortgage principal? The mortgage principal is the amount you are borrowing. How is mortgage interest calculated? Interest is the amount you pay for the...
There are several strategies a buyer can use that don’t cost money but can still lead to success in real estate. What defines a win? Securing a property in competition, without paying way more than the competition. Getting a property for less than the competing...
Moving to a new state or region can feel overwhelming, especially when it comes to settling into an unfamiliar community. Whether you've moved locally before or this is your first big relocation, there’s more to it than just packing boxes and changing addresses....
Q: I went to a buyer’s agent who said that he can’t send me property listings until I sign a contract with him. Another agent worked with me all weekend and never asked for one. Which one is right? A: All buyers agents should present a buyer’s agent agreement before...
Every buyer’s agent is required to provide a buyer’s agent contract when they begin working with a home buyer. One thing the buyer’s agent agreement must include is a clear description of what the buyer will be paying the agent and when the agent gets paid. How...
Whenever you hire a professional for something, it is a good idea to have a contract. That’s what a buyer’s agent agreement is – it’s a buyer’s agent contract. It’s a legal document that tells you what the agent is going to do for you and what it is going to cost for...
In light of the recent settlement between the National Association of Realtors (NAR) and the plaintiffs represented by class-action attorneys, home buyers need to be aware of new rules that will take effect nationwide on August 17, 2024. Here’s what you need...
When deciding on whether a pool should be on your house hunting wish list, balance these two factors: Any increase in the value of the house will be less than what it costs you to install, maintain, and insure a pool. That is true everywhere in the country. How much...
When you create an offer on a house, the Seller is going to ask you to prove that your mortgage will close on time. All you need is a pre-qualification, right? Nope. You need a pre-approval. A pre-underwritten mortgage is even better! What’s the difference? A...
Getting a pre-approval will help a buyer get their offer accepted. It’s simple; the seller wants to know that the buyer’s mortgage will close on time. That means a house hunter needs to have their pre-approval in hand when they begin house hunting. Murphy’s Law...
A pre-approval is a letter from a lender. It states that the lender will give this borrower a mortgage for up to the amount on the letter. A pre-approval states that earnings and debt and credit history have been reviewed and approved. A pre-approval benefits both...
Short sales are often promoted as an easy way to buy a property at under-market value. That certainly works sometimes, but the majority of the short sale transactions present a very different reality to buyers. This report will help buyers objectively evaluate short...