Tuesday, December 3, 2019 / by Shawna Calvert
Are you putting your house up for sale? If so, your home will likely be appraised during the process. An appraisal is a tool the banks use to provide an estimate of your property's value.
An appraisal is a vital part of selling or buying because it determines how much a lender will let the buyer borrow to purchase the house. In other words, if you and the buyer agreed on a higher price but the home for sale gets a low appraisal, the buyer will never get a mortgage for more than the appraised amount. That's why it's in your best interest to work to increase the appraised value of your home as much as possible.
Don't confuse home appraisal with home inspection. The home appraisal's goal is to determine the property's market value, while home inspection checks the house for flaws and safety issues. If available, the appraiser will consider home inspection findings when determining the home's worth.
The appraiser uses these factors to determine a home's value:
Friday, November 15, 2019 / by Shawna Calvert
When it comes to deciding whether you should buy a home or keep renting, there are lots of pros and cons for each option. For most people, making a choice isn't easy at all because the advantages of buying vs. renting (or vice versa) don't always outweigh the disadvantages. There can be much to consider such recent changes to the tax laws. For some, owning a home may not seem as attractive as it used to be. Nevertheless, renting doesn't always mean you'll be saving money either - it all depends on a number of factors such as location, how many years you're planning to stay there, extra costs associated with owning a home, and taxes. Lets explore this in more detail.
The most common argument for buying is that when renting, you're paying the landlord what you could have been paying for your own home. And that is true. When you're renting, the money you pay monthly isn't building equity and working as an investment. However, what people forget to take into account is that; ...
Friday, November 8, 2019 / by Shawna Calvert
Have you ever considered downsizing? Many people view downsizing as a negative, especially when it's associated with moving to a senior living community. However, a lot of our customers changed their mind once they've moved and settled in their new smaller apartment. Living in a senior living community made it a lot easier to keep on top of their finances and enjoy a life free of exhausting daily chores.
Our customer Jason, whom we helped to sell his house and move to assisted living, gave us permission to publish his story on the blog:
"I guess every person with a family wants to have a large house with a yard somewhere in a nice suburb. Well, I was lucky to have it all: a good job, a happy marriage, and a large house for our family of five. Then the kids grew up and moved out. Suddenly, we had a property with lots of empty bedrooms. But we were used to living there and weren't considering moving.
We kept the kids' rooms nice and comfortable for whenever they " ...
Monday, October 28, 2019 / by Shawna Calvert
With life expectancy steadily increasing, most people will require some type of long-term care in their old age. While there are several options available, in most cases assisted living is the most practical and cost-effective choice for your older loved one. For most seniors, moving to assisted living means selling their home to cover the cost of care. Let's have a look at some important things you should know when helping to list your aged loved one's home for sale.
Find the Right Real Estate Agent
Selling a senior's home is just like selling any other property, right? Well, not exactly. Not only is selling a home where your loved one lived most of their life and raised a family a delicate affair but some specific technicalities need to be taken into account. That's why it's best to find a real estate agent who has experience helping seniors sell their homes when they decide to move to assisted living.
Put the Home Up for Sale in Advance
Selling a property always ta. ...
Monday, October 14, 2019 / by Shawna Calvert
How do you win when there are multiple offers on the home you love? High demand and low inventory on the market are contributing to situations where sellers are receiving multiple offers at once on their home.
Jumping first at cash offers can seem tempting for sellers since it offers the possibility of a faster closing. But despite this perk, cash buyers don't always win! Many times, they make low offers or demand costly extras, both of which will mean lost cash for the seller. If you are trying to buy a home, don't let these competing cash offers scare you off.
Do you want to boost your chances of getting the home you want when competing with cash buyers? Here are some things to consider:
1. Include a preapproval letter. Get you financial document together including 2 previous years W2's, 3 months worth of statements from your down payment bank or investment accounts, a list of your debts and your current pay stubs. Then find a mortgage lender an get pre-approved. Prese ...