Posts in category 'Buying'

What To Do If Your Dream Home Fails Inspection

As a buyer, it's easy to become emotionally invested in a home, especially when you find one that meets all of your criteria.  However, it's so important to ensure your offer includes a home inspection contingency and to keep your emotions in check until the home inspection report comes back. A home may seem like a dream come true on the surface, but the home inspection report may transform it into a nightmare.

A home inspection usually takes place within the first 10 days under contract. The report will usually outline minor defects to major structural issues and everything in between. If there are serious issues such as foundation damage, roof damage, or mold in the basement, you'll likely need to negotiate with the seller on how to remediate the issues. If your dream home fails the home inspection, that doesn't necessarily mean al...

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6 Ways to Spot the Next Hot Neighborhood

Do you dream of living in one of the area's hottest neighborhoods, but find that all the homes are out of your price range? If you want to live in a trendy area, but also want to get the most out of your real-estate-dollar, the trick is to buy an inexpensive home in a neighborhood that's destined to be the next new hotspot.

Cities and urban areas across the country are going through a revitalization, also known as gentrification. Formerly run-down, lower-income regions are experiencing an influx of affluent residents, causing the neighborhoods to become desirable and home prices to rise. This trend is growing year-over-year as buyers have been placing more value on locations close to city centers and near their places of employment. 

Up-and-coming neighborhoods tend...

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Closing On A Home? Make Sure You Do These Things First

Closing on a home is an exciting time. It's the end of one long journey and the start of a new adventure.

It's not fun to think about, but a transaction can run into trouble until the very moment closing is done. There are important steps you can take before closing to keep unusual, but serious, complications from developing at the last minute. Your real estate agent is sure to help you stay on track, but you'll be even more prepared with a little research — exactly what you're doing right now.

Here are the key steps to take care of before closing:

• Ensure the Home Has Been Inspected
  Contingencies are things the buyers must do before the transaction is final. The most common of these is the home inspection contingency

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Let's Talk About Paperwork: What You Need To Buy A Home

From securing mortgage pre-approval through your lender to closing on your new home, the process of purchasing a home involves plenty of paperwork. You can make your life much easier by being prepared. Here are some of the key documents that you may need to provide or review throughout the process of purchasing your next home.

• Proof of Income
  In order to apply for loan pre-approval and determine how much you may be able to borrow, your lender may request a variety of documents to prove your income. These documents may include pay stubs, tax returns, bank statements, and retirement account statements.
  
  
• Proof of Employment
  Your lender wants to know where your down payment will come from and verify that you will be able to pay your mortgage, so they will also reques...

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