If you’re on the sidelines to buy a home, there are things you can do to be ready when you do get back in the game. Improve your credit score to qualify for the best mortgage rate available which are reserved for those with the highest scores. Get a copy of your current credit reports … Continued
Items to Check before a Home Inspection
Selling a home can be a stressful time, there is so much to think about; keeping the home clean, heading out on a moment’s notice to accommodate last minute showings, not to mention planning a move. It’s natural to feel overwhelmed.
Then you get that great offer and enter escrow. You’re relieved until you realize there’s a home inspection coming. Even a home meticulously maintained can have hidden issues. The good news is that you can prepare for the home inspection and make sure you pass with flying colors.
Items to Check before a Home Inspection!
Doors, windows, cabinets and drawers – check that they slide smoothly
Run water in sinks, tubs and showers – snake any that drain slowly
Evidence of water leaks – Garage ceiling, under sinks, around water heaters, etc.
GFIs – check your local code and put GFI plugs where required
Smoke and Carbon Monoxide Detectors must be in working order
Gutters and Roof – replace any missing roof tiles and clean gutters
HVAC – Consider a HVAC servicing to replace filters and check for problems
Water Heater – is it properly strapped and vented
Deferred maintenance – anything that has been neglected should be addressed before
the home inspection
The best defense is a good offense. This is true in home inspections too! The best way to ensure you have a great home inspection is to have a pre-listing home inspection. It could be the best couple hundred dollars you can spend – uncover the issues before the buyer does.
The seller wants the most for their home and the buyer wants to pay the least possible. From the very beginning of the homebuying process, there are adversarial positions between the principals. If you happen to be in a multi-offer situation, it just complicates things further. Then, there are the emotions that tend to cloud … Continued
As the expression goes, "if I could turn back time", maybe you’d would do some things differently. If you’re wanting to buy a home, the regret may come from not getting a mortgage when rates were half of what they are today. There may not be a way to literally "turn back time" but you … Continued
The dilemma facing would-be buyers today is to wait until things settle down or move ahead in this unsettling economic environment. More specifically, the question should be, what are you waiting to settle down: mortgage rates, or prices or both? Mortgage rates haven’t been this high since 2002, so it could be considered plausible that … Continued
Inflation devalues the purchasing power of money and the interest earned on savings is almost always less than inflation. Tangible assets like your home consistently become more valuable over time. In inflationary periods, a home is a good investment and a hedge against inflation. Borrowing money at fixed rates during times of inflation can be … Continued
Credit scores are used to assess risk and determine whether a borrower is approved or declined for a mortgage, credit card or some other type of credit. The score is a numerical value ranging from a low of zero to a high of 850 or 900 depending on the credit bureau. The higher the score, … Continued
Waiting for the mortgage rates to come down before you buy a home may not be a good decision. If you are correct, and the rates do come down by two percent, the savings you benefit from a lower rate will most likely be devoured by the appreciated price increase. As of 12/8/22, the 30-year … Continued
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Sellers offer concessions as an incentive to encourage buyers to purchase their home. The concessions, paid for by the seller, benefit the buyer in ways that may be more appealing than possibly, being able to purchase the home for a lower price. In some situations, buyers have good income, credit, and even the down payment … Continued
There are a lot of professionals involved in the homebuying process. And when these people can function as a team, the buyer is much more likely to end up where they want to be…in their new home. The lender is an integral part of the team unless you are going to be paying cash. Trust … Continued