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Posted by John Boey on 2/4/2018

A home inspection can make or break a property sale. If all goes well during a home inspection, a buyer and seller can proceed with a transaction. Conversely, if a home inspector discovers major problems with a house, a property sale may be in jeopardy.

As a homebuyer, you'll want to do everything possible to ensure a home inspection delivers valuable insights. With in-depth home insights at your disposal, you can determine whether to continue with a home purchase or reenter the housing market.

To ensure a successful home inspection, let's take a look at three common home inspection mistakes, and how a homebuyer can avoid these problems.

1. A homebuyer hires an inexperienced home inspector.

When it comes to hiring a home inspector, it is always better to err on the side of caution. With an experienced home inspector at your side, you can boost the likelihood of a successful home inspection.

Evaluate a variety of local home inspectors. Then, take a look at each home inspector's background and expertise to narrow your search.

In addition, if you feel comfortable with a home inspector, reach out to this professional directly before you make your final hiring decision. That way, you can request client referrals and gain additional insights to help you make an informed selection.

2. A homebuyer does not attend a home inspection.

A homebuyer is not required to attend a home inspection. However, attendance usually is a good idea, regardless of your homebuying expertise.

Remember, a home purchase is one of the biggest transactions that you likely will complete in your lifetime. If you want to ensure a home is a viable long-term investment, it certainly pays to walk around a property with a home inspector and conduct an in-depth evaluation.

In many instances, attending a home inspection may enable a homebuyer to gain home insights that might not be included in a home inspection report as well.

For example, a home inspector who identifies issues with a property may be able to give a homebuyer an estimate about how much it will cost to complete myriad property repairs. These insights are exceedingly valuable and can help a homebuyer determine whether a house is a worthwhile purchase.

3. A homebuyer ignores a home inspection report.

After a home inspector completes a property evaluation, this professional will provide the homebuyer with a home inspection report. Then, a homebuyer will have a set amount of time to review the report to determine whether to proceed with a home purchase.

A home inspection report contains plenty of valuable insights, and as such, should not be ignored. Instead, a homebuyer should spend time evaluating the report and learning from it. And if a homebuyer has any questions, he or she can reach out to the home inspector who provided the report for answers.

Lastly, if you need help planning a home inspection, you should employ a real estate agent. By hiring a real estate agent, you'll have no trouble getting in touch with the best home inspectors in your area.

Posted by John Boey on 11/12/2017

Purchasing a house may prove to be a long, complex process, particularly for a first-time buyer. Fortunately, there are several things that you can do to streamline the process of going from homebuyer to homeowner.

Now, let's take a look at three tips to help you enjoy a quick, easy homebuying journey.

1. Narrow Your Search for Your Dream Home

It often helps to enter the real estate market with a checklist of home must-haves and wants. With this checklist, you will be better equipped than ever before to perform a deep evaluation of any house, at any time.

Think about what you want to find in your dream home and include these criteria in your checklist. For instance, if you want to own a house near your office, you can search for houses that are just a few miles from your workplace. Or, if you want to purchase a house with a big backyard, you should look at houses that offer the space that you need.

2. Submit a Competitive Offer

If you find a house that you want to buy, there is no need to wait to submit an offer. However, it is important to differentiate between a "lowball" offer and a competitive one beforehand.

A lowball offer generally fails to account for the state of a house, as well as the current real estate market's conditions. It is likely to fall short of a home seller's expectations, and as a result, lead to an immediate "No."

Conversely, a competitive offer is based on housing market data, along with the condition and age of a house. And if you submit a competitive offer on a residence, you may receive an instant "Yes" from a home seller.

3. Conduct an In-Depth Home Inspection

After you and a home seller agree to terms, you will want to conduct a comprehensive home inspection. This will enable you to fully examine a house's interior and exterior and identify any potential home problems before you finalize your purchase.

When it comes to buying a home, there is no need to forego a home inspection. In fact, if you bypass a home inspection, you risk encountering costly, time-intensive home problems in the near future.

To hire an expert home inspector, perform a search of the available inspectors in your city or town. Then, meet with several home inspectors, ask for client referrals and allocate the necessary time and resources to perform an in-depth assessment. Because if you hire the right home inspector, you can get the support that you need to make an informed home purchase.

Lastly, if you need help finding a home inspector or completing other homebuying tasks, it usually is a good idea to employ a real estate agent. This housing market professional will learn about your homebuying goals and tailor your home search accordingly. As a result, working with a real estate agent will increase the likelihood that you can enjoy a quick, easy homebuying journey.

Categories: Buying a Home   buying tips  

Posted by John Boey on 7/30/2017

When you make the decision to buy your first home, you should be certain that youíre ready to make the leap into homeownership. Thereís many different things that you should do as a buyer to get ready before you even set out on the search of a perfect home.

Choose An Agent

You may think that one real estate agent is the same as any real estate agent that youíll find. This is far from the truth. Some agents have certain specialties. The knowledge that an agent will bring to your house hunt is often invaluable. You are making one of the biggest purchases that youíll ever make in your lifetime. While many buyers think that they can simply do an online search themselves to find a home, your realtor will have many more resources to assist you in finding exactly what youíre looking for.

Figure Out The Financial Portion Of Buying A Home

While knowing how many bedrooms you need and where you hope to live is important, understanding your finances is even more important. Youíll need to talk to a lender to get the process started. After looking at your own personal budget, you should get pre-qualified. Getting pre-qualified allows you to see a general number of how much house you can afford. That can help you start the process, however, thereís still a few more steps. 

From here, you can do what needs to be done to get your entire financial picture ready to buy a home. This includes saving for a downpayment, improving your credit score, and continuing to keep up bill payments and consistent work history. 

Next, youíll want to get pre-approved. This allows your lender to dig into your financial picture. Everything from your credit score to your income and employment history will be considered. Your lender will then give you a more definitive number of how much youíll actually be able to get for a loan when you buy a home. To get pre-approved, be prepared with 1099 forms, pay stubs, tax returns, and bank statements. Youíll then have the concrete amount that youíre approved for along with the interest rate that you qualify for. 

Once You Have Applied For A Home Loan

Once you find the realtor to assist you and secure the home of your dreams, youíre not free to head out and buy all the furniture that you need to fill up your house. The home loan must go through the underwriting process and until that is complete, your finances are essentially on lockdown. If you start opening new credit cards, decide to buy a car, or fall behind on payments, you could end up in a lot of trouble. You want to keep your credit score stable throughout the process of buying a home for smooth sailing.

Posted by John Boey on 7/16/2017

When it comes to home buying a home, thereís a ton of different information available out there. A lot of what has been presented as ďfactĒ actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, youíll find some of the most common myths that youíll find about home buying.

If Your Credit Score Isnít Up To Par, You Canít Buy

To get good mortgage rates, having a good credit score doesnít hurt. You can still buy a home if you donít have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Donít let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.  

You Need 20 Percent Down To Buy A Home

This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.

You Have To Make A Lot Of Money To Buy A Home

Your monthly income is one of many aspects of your financial life thatís considered when youíre buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and youíll be in good shape to buy a home. 

You Donít Need To Be Pre-Approved To Get A House

Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, youíre able to breeze through the process of making an offer if youíre pre-approved. The pre-approval process is one of the most important aspects of buying a home. 

If youíre prepared with knowledge, buying a home isnít such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!

Tags: Buying a home   finances  
Categories: Uncategorized  

Posted by John Boey on 6/25/2017

The summer real estate season provides a valuable opportunity for homebuyers across the United States. And with the right homebuying strategy, you should have no trouble securing your dream home at a price that fits your budget.

What does it take to discover a wonderful home in summer? Here are three tips to help you purchase a great home during the warmest months of the year:

1. Know What You Want from Your Dream Home

Although you may allocate substantial time and resources to browse the real estate market, your best efforts may not be enough to find your dream residence. As such, you'll want to go above and beyond the call of duty to transform your homeownership dream into a reality.

Make a checklist of must-haves for your dream residence before you browse homes that are available in summer. By doing so, you'll be able to better understand what you want from your dream house and plan accordingly.

In addition, getting pre-approved for a mortgage usually is an excellent idea. With pre-approval, you'll know exactly how much you can spend to acquire your dream house.

2. Take Advantage of Vacations and Long Weekends

For many people, summertime offers extended breaks from the hustle and bustle of day-to-day life. Meanwhile, homebuyers who take advantage of extra time may be able to commit additional resources to complete their search for the perfect house.

Summer vacations and long weekends can be a time to relax. However, if you have time to spare, feel free to browse the real estate market. By doing so, you can check out a broad array of houses and even set up home showings at your convenience.

When it comes to checking out homes in summer, don't forget to enjoy the beautiful weather, either. For example, if you spend an afternoon viewing homes, you may want to reward yourself with a trip to the amusement park in the evening. Or, if you're checking out a home that is located near a beach, feel free to plan a beach trip after the home showing is finished.

3. Hire an Experienced Real Estate Agent

Navigating the real estate market may seem impossible at times, particularly during summer. Fortunately, hiring an experienced real estate agent ensures that you can streamline the process of securing your dream residence.

An experienced real estate agent understands the ins and outs of the housing market and will do whatever he or she can to help you find a terrific home. This real estate professional can offer information about home listings in your area and set up times to view houses. Plus, your real estate agent will be able to respond to your homebuying concerns or questions at any time.

Employ an experienced real estate agent to take the guesswork out of acquiring a home in summer Ė you'll be happy you did. With support from an experienced real estate agent, you can explore a vast array of houses and find one that suits you perfectly.

Categories: Uncategorized