When buying a piece of land, one should consider a number of factors. Primarily, you must always take full stock of the situation and consider the realities. Keep in mind that the countryside means cheaper land. Most people buy a lot because they want their dream house. However, when buying…
November 2009
Most real estate agents tend to recommend only certain home inspectors to prospective home buyers. The truth is that sellers of the property pay most real estate agencies’ work on an average commission of 6%. This means that a house selling for $400,000 has a potential commission of $24,000. Selling…
Real estate agents will advise you that it is much better to have a preapproved loan letter than to be prequalified for a loan. A preapproval letter for a loan is a letter from the lender that expresses confidence in the borrowers’ ability to payback the loan. The lender would…
In the current economy, the influx of foreclosed properties selling for incredible prices is at the highest level ever in the United States. Although it would be easy to get caught up in this excitement, make sure to keep a few things in mind before jumping right into a sale….
Although replacement-cost coverage insurance for home owners is designed to replace your valuables and your home, sometimes the payout isn’t equal. To avoid coming out of the situation less than fortunate, MoneyWatch.com recommends staying away from actual cash value coverage, or ACV. ACV includes a deduction for depreciation that typically…
When buying a new home, you will hear the term escrow used over and again. There can be some confusion, as at different points of a real estate transaction, it can have different meanings. The definition describes escrow as “documents or other items of value, held by a neutral third…
Imagine interest rates are dropping but your current mortgage interest rate is several percentage points more than the current average with several years to run on your loan. Several choices are available to you at this point. First you could approach your current lender, and look to get what is…
Once you have lived in your home for a few years you may have the urge to rebuild and make things a little nicer and comfortable. The best option in this case would be to refinance your mortgage. What happens with a refinance is that the lender will look at…
When the time comes for your mortgage to be renewed, your lender will call you and let you know of the fact. In addition, your lender will also make it extremely easy for you to sign the papers to renew the contract with them. However, when your mortgage is up…