Making an offer is one of the most important steps in the home buying process. If you offer too much, the property might not meet the appraisal. This means you could have trouble getting a mortgage loan. On the other hand, if you offer too little for the home, the seller may reject it.
Here's the bottom line. If you make a real estate offer based on solid data and advice, you'll be less likely to ...
Last-minute homebuyer tax credit tips
If you want to claim the first-time buyer credit, you'll have to hurry.
By Marcie Geffner of Bankrate.com
The clock is ticking on the federal homebuyer tax credit.
Homebuyers still have time to buy a home and meet the deadlines, but they will need to act soon and be proactive throughout the transaction.
The homebuyer tax credit is worth 10 percent ...
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Real Property vs. Personal Property
When selling or buying a home, you need to think ahead about what you are actually selling along with the property and the house.
The general rule is, "if it attached to the structure or the ground, it is real property and stays with the house."
This confuses some people, especially when selling their first house.
For example, as a renter you may have been used ...
Earnest Money Deposits - Protect Your Good Faith Deposit
What is an Earnest Money Deposit?
Buyers always ask how much of an earnest money deposit is required. Typically, there is no set requirement. In California, contracts must contain consideration to be valid, but that amount can be as little as one dollar. Laws in your state may be different. Bear in mind, however, that the ...
Facts About Residential Real Estate Appraisals
Appraisals are an Important Part of Your Home Buying Transaction
A real estate appraisal helps to establish a property's market value–the likely sales price it would bring if offered in an open and competitive real estate market.
Your lender will require an appraisal when you ask to use a home or other real estate as security for a loan, because ...
Home Buying Purchase Contract Contingencies
By Elizabeth Weintraub, About.com Guide
Contingencies Allow Cancellation
Back in the old days, when Barry Manilow was cool -- OK, he was never cool, I just made that up -- but a long time ago, agents used to call contingencies weasel clauses. That's because a contingency would let buyers weasel out of a contract. That is, to cancel a contract ...
Home Buyers Who Walk Away from Closing Escrow
Walking away from closing happens more often in buyer's markets than in seller's markets. That's because in buyer's markets, when prices are soft, some buyers become frightened when they should be jumping for joy. Many are afraid of further declines in the market and don't feel comfortable because all their friends aren't buying.
The ...
Did Your Home Inspector Check the Essentials?
Home buyers have it drilled into their heads that they need to get a home inspection. In California, for example, real estate agents advise home buyers to do a home inspection 15 ways from Sunday. Our purchase contracts contain two pages that talk about doing a home inspection, and those two pages are repeated in the buyer's broker agreement. ...
Confused about real estate commissions? You're not alone. Here are some answers to a few of your most common questions.
There’s no question a good real estate agent can be a valuable resource when it comes to buying or selling a home. But how much is that help going to cost? First of all, if you’re the one buying the home, it isn’t going to cost you anything. ...