Determining your affordability is one of the first steps to accomplish before entering the housing market. It is important to determine all the costs and expenses you will be liable to pay, the amount of down payment you have, and devise a plan to manage your monthly payments. One can examine one’s monthly or yearly affordability based on the current expenditures, future forecasts and your overall comfort level and financial…
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Sometimes it's easy. For instance if the new house has lots of fun features kids will love, (like a swimming pool) then the kids may be sold instantly...however, especially with teenagers or kids with friendships in school, change can be very difficult. Involving the kids in the search, exploring fun things in the new area will help. Touring a new school, or finding out that there are kids their age…
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There are a lot of factors that go into buying a home. One is that a person should be fairly certain that they are able to stay in an area for the foreseeable future. Generally people finally decide it's time to buy a home when they are in a financial position to do so and they like the community they live in. There are many motivators like wanting more space,…
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A home inspection is of great importance because it allows the buyer to identify the structural integrity and cosmetic value of the property. It is a crucial deciding factor in the final buying decision, and it can make or break the negotiations. It allows the buyer and seller to establish the actual value and structural deficiencies of the property, which leaves behind room for negotiations. Either the buyer can negotiate…
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In 1971, the government passed an act referred to as the Fair Credit Reporting Act (FCRA) to regulate who has access to credit profiles, and how inaccurate information can be removed from a credit report. This act was established to regulate credit reporting agencies, such as Equifax, Experian and TransUnion, in order to protect consumers’ privacy rights. This bill was later revised in 1997 to provide even more protection to…
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Financing is just one component of buying a home. Before you get to the stage where you must borrow money, you must first isolate the home you wish to buy and figure out how much money you can put into this all-important part of living the American dream. A good place to start is by contacting a realtor, who can enable you to analyze your financing, figure out how much…
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REO stands for Real Estate Owned by Lender, and buying a foreclosure property owned by the bank or financial lender comes with a wide range of ups and downs. It presents a property that has been taken back by the lender through a foreclosure, and now, the title is under the lender’s name. The property can be either managed by the lender or one of the agents of the concerned…
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