Why You Need a Buyer’s Agent

download (74)If you are in the market to purchase a house, the question you may ask yourself is why you need a buyer’s agent? The question you should really be asking is why you shouldn’t have a buyer’s agent. You as the buyer get free labor! You don’t pay them a dime! So, why wouldn’t you want someone on your side negotiating and working for you? The seller is the one who pays the commission for your Realtor.

Purchasing a home can be the largest investment you’ll make in your life, so you need someone on your side to help you out. A Realtor can set up all of your appointments and negotiate the best price for you. The only person that wins when you don’t have someone representing you is the listing agent. You don’t want the listing agent negotiating the price between the two sides. The listing agent has their client’s best interest at heart. You need a buyer’s agent to be on your side. Your Realtor will usually have you sign an Exclusive Buyer Agency Agreement. It tells

Avoiding The Pitfalls Of First Time Home Buying

download (72)Viewing a house can be exciting. You can imagine yourself living the good life as you would be living on your own home. That said, purchasing your first home could also be daunting and in fact concerning if you ever heard of first time homebuyer’s problems. Aside from moldy insulating panels and infestations, buying a nice home without any problem can be slim and if you are considering a new home, it can be quite expensive and might not fit your budget.

If you are buying or considering purchasing a home, then you might benefit from the following tips below.

Two Eyes are better than one

While you may be impressed by the sweet talk of the real estate agent, having someone with you can help you a lot especially if the agent is not paying attention to that person. Your friend or your relative can help you spot some problems of the house and if they have their own homes chances are, they would be able to check places that can cause problems especially if they experience it first-hand. Second person

Buying a Home & Your Credit Report

download (71)Have you been looking at the housing market and thinking you want to buy a home?

Ads are everywhere listing properties.

It would be hard to make it through a day without seeing eye-catching photos of your possible dream home.

But before you fall in love with that home – any home – do you know what your credit score is? When is the last time you checked your credit report?

Those two things should always be the first steps you take when you start thinking about buying a home.

Any lender will pull reports from all three bureaus and take the median score so it’s important to know the information on all three.

The free versions of the reports do not include your score; however, you can pay a small fee to have that included.

Some credit cards provide you with your free score so check if that is available to you. But don’t open a new account just to get your score!

A score of 740 or higher should qualify for the best mortgage rates. Anything below 640 is going to make it difficult

What To Look For in Your Next Real Estate Agent

download (73)25So you’re ready to start the home buying process – You’ve thought long and hard about this investment and decided it’s the right move for you. But where to begin?

Working with a licensed real estate professional who has specific knowledge on your market is a very important starting point. And as you speak with various agents, you’re going to learn that they ALL will claim to be professionals in your area. GREAT! That means you have choices; And we all like options, right?

But knowing the market is just one component of any good agent. There’s more to consider when it comes to selecting the right real estate professional. Here’s what I look for when folks ask me to refer them to an agent in their area:

1.) What special designations does the agent hold that demonstrates their ability to assist you? For example, if I was working with a military personnel client, I may look for an agent who carries the Certified Military Residential Specialist designation because I know they will have received additional training and education on the

Three Documents You Must Have When Buying Real Estate Notes

download (68)There are three critical documents you’ll want in hand when buying a note. They are a description of the note you bought, as well as proof that you now own it without dispute.

Since there is an almost infinite number of variations of these documents, I won’t show actual ones, but just describe what they’re for and what the critical components are. You can use this as a checklist when the seller provides them.

The first is a Receivable Purchase and Sale Agreement. It lists the buyer, the seller, the receivable (the note) and what has been agreed upon.

The first section the Agreement needs is a description of the Receivable itself. Look for these:

  • Type of Security Instrument (Mortgage or Deed of Trust, depending on the state)
  • Original Buyer
  • Original Lender
  • Date
  • Recording Information
  • Unpaid Balance
  • Monthly Payments
  • Interest Rate
  • Number of Remaining Payments

There may be a section listing other documents requested by the buyer. These could include:

  • Credit report on the payor of the note
  • Recent appraisal, or other valuation of the property
  • Insurance declaration page
  • Pay history
  • Preliminary title insurance commitment
  • Original Note
  • Assignment of the Mortgage
  • Endorsement of the Note

There will be a section describing

Choosing A Solicitor To Help With Property Buying

download (69)Buying and selling property is not always as easy as it might seem, especially if you are a first time buyer. It is a process that can be frustrating with possible setbacks, especially when you choose to work alone without any professional assistance. Some of the most common setbacks that first time buyers face include vendor drop outs which could result from better offers from other buyers, property cost hikes, survey issues and mortgage difficulties.

Solicitors are very helpful in the property buying and selling process and your chances of going wrong with the deal are greatly reduced when you have one helping you. They generally handle all legal aspects of the property buying process and they keep you updated every step of the way so you are able to relax. Conveyancers handle the contracts, carry our searches and surveys, and handle land registry and transfer of funds for the property. It is very important that you choose a licensed solicitor to make your process more pleasant and quick for that matter.

Solicitors are qualified lawyers and they offer a fuller

Top Tips to Save for a Down Payment

download (70)Being a renter does have some advantages. No paying off the mortgage, no property taxes, and the landlord takes care of any maintenance and repair costs. However, renting your home does have one major drawback: You are spending money on rent without gaining any equity of the property.

Many renters want to own their home, but struggle to find the cash needed to make a down payment on a property.

In fact, a recent survey conducted by the website gobankingrates.com showed that a fifth of adults in the U.S. don’t use a savings account, while a third of those that do have zero funds in their account.

Below you will find some top tips to help you start saving and put aside enough funds to put a down payment on a home.

Set a target

Knowing how much you can afford to spend on a property is crucial to help you identify how much you will need to save for a down payment.

After working out how much you need to save, you should compile a detailed saving plan to reach your target. Having a


How to Shop For a Mortgage

download (67)Prior to shopping for a mortgage, it is imperative that your credit report and down payment are in order. Your credit scores, down payment, and debt to income ratio will determine which mortgage loan types are available to you. To check your credit, you can request a free credit report annually from freecreditreport.com. Once you have received a copy of your credit report, it is important that you thoroughly review the credit report, resolve any derogatory accounts and inform the credit bureaus of any inaccuracies. The money you intend to use for your down payment should be in your bank account for a minimum of 60 days or you will likely have to provide a paper trail of the source of any large deposits. Each loan type will have different approval guidelines, but for most mortgage programs the standard maximum debt to income ratio is 45% of your gross income. Depending on your income sources and deductions on your tax returns, the income used by your lender may differ from your calculation. Once you have your credit, down payment,

Before You Close, Have You Done Your Due Diligence?

images (21)After successfully submitting an offer on a property and having it accepted, there is a stage, usually up to three weeks, before the deal is concluded. During the wait before the deal is closed, buyers are often advised to do their “due diligence on the property they have placed the offer. But what does “due diligence” mean? And what should the potential buyer be doing during this period of time?

In the business of real estate, due diligence basically means evaluating and looking into any issues the property may have. The potential buyer should investigate the property thoroughly to identify any flaws or issues that may cost significant amounts of cash to fix after the property has changed hands.

The buyer should use their due diligence to ensure that the property fully meets their expectations of what they hope to receive after parting with their cash. The few weeks before closing are the last opportunity a buyer has to check the roof for leaks, ensure the basement doesn’t flood – and basically make sure that they are not getting ripped off

Closing Day Problems And How To Avoid Them

images (20)Purchasing a home for the first time can be a daunting experience, and the closing day is perhaps the most daunting part of the buying process. Dealing with unexpected issues that may arise can be difficult. While some problems can be easily solved, others can derail a deal at the final hurdle.

Disheartening walk-through surprises

The final walk-through of the property is the number one cause of unexpected issues on closing day. The final inspection takes place the day before, or during the morning of, closing day, leaving the buyer with not much time to prepare and react to potential problems.

A heavy storm may reveal downstairs flooding, or the furniture that you thought was included has vanished, cracks in the ceiling or walls may be revealed.

If the issue is a serious problem you should take careful steps in proceeding with the deal. To avoid any unfortunate revelations, you should have very thorough inspections of the property before the final walk-through on closing day.

Feel free to ask the current owner to view the property after a large storm to inspect for

Who Wants to Buy Mykonos Villas?

download (66)So who wants to buy luxury villas in Mykonos? While it is true that Greece is still in the middle of a severe economic crisis, it does seem that the Mykonos real estate market has been literally thriving. No crisis here, whatsoever!

Mykonos has been for long one of the best holiday destinations in the world, loved and frequented by some of the biggest celebrities out there. But it’s not just about celebrities; a lot of ordinary folks have made their way to Mykonos and have purchased luxury accommodation in Mykonos.

Many would prefer to rent a villa in Mykonos, rather than stay here, as they are here for the short-term. But what is clear is that there is a huge amount of interest in Mykonos villas. Everyone wants a piece of them.

Indeed, in spite of the severity of the economic crisis in Greece, in spite of the protests, demonstrations, referendums and elections, Greece still saw a tourist inflow of 22 million in 2015, which is remarkable really.

No surprises for guessing that most tourists to Greece spent most of their time

5 Tips for Buying a House

download (65)Buying a home can be nerve wrecking and thrilling at the same time. This is especially for a first time home buyer. It is also difficult to know what exactly one should expect. The learning curve is obviously steep but the issues can be resolved by simply doing some homework on it. Some important tips have been explained as below.

1. Evaluate your credit

Your credit score is extremely important because it can be helpful for you to qualify for the loan. The standards are also higher in terms of what score you actually require and how exactly the cost of the loan is going to affect you.

2. Evaluate your liabilities and assets

This should be done so that you don’t owe a lot of money and all your payments are processed up to date. However the exact manner in which you spend your money must be taken into consideration. Any first time homebuyer should have a very good idea of what is owed and what is exactly coming in. Understanding a little bit about the monthly cash flows can also help

Finding the Perfect Home Can Take a While

download (64)Finding the perfect house can take a while. Patience is not only a virtue, but it’s a determining factor when purchasing a home. The three most important keys to home buying are, making sure you are financially ready, ensuring that you and your partner do not become emotionally attached to any home, and discussing with your partner your expectations of a home prior to shopping.

Often times people think “I finally got that big pay raise; I’m ready to buy a home.” However, the financing of a home is about more than just a steady income. Your lender is going to want to know about all of you and your partner’s financial history, both good and bad. Also, they are going to inquire about that old cell phone bill from high school that you never paid. Yikes! Your credit history will be on full display for the lender. If you don’t have your “financial ducks in a row”; it will really hinder your home buying process. Your debt to income ratio is really key here. Therefore; prior to going out

Clean Up Your Credit Score to Buy a New House

download (63)Buying a house is a dream come true for most of us. It is a practical and a financially wise decision as well. No wonder the real estate market is ever buzzing with activity this year. However, as much as we love the idea of buying a house, the high amount of money involved can make some of us weary about the process. The most basic step in buying a house is planning your budget. Based on income and savings, one can get an estimate of the price of house they can afford. A majority of home buyers look for financial assistance from banks or other lending institutions to purchase their house. In such cases, along with Income and savings, credit scores also play a huge role in deciding whether a loan can be extended to an individual, as well as the amount of loan. Real estate agents can also help you decide the budget and find a property that fits within it. Agents are also great resources to help find a lender who can clean up your credit

First Time Home Buyer Basics

download (62)If you have been renting for years, unfortunately you have nothing to show for all the rent money you have given to your landlord. Due to the benefits of homeownership you may be considering purchasing a home. There are a variety of advantages that homeowners enjoy as compared to renters. These advantages include: tax deductions, appreciation, control over their property, and stability. Before buying a house you should consider how home-ownership will affect your employment, family, and financial situation. Once you have weighed the pros and cons of purchasing a house, if you decide to become a homeowner the following steps will help you prepare.

Step One: Get Pre-Approved For a Mortgage

Talk to your family and friends and ask them to refer a mortgage professional that they have had a good experience with. You will need to provide your pay stubs, bank statements, tax returns, and other personal information to your mortgage lender. Often being able to meet face to face with your mortgage loan officer will reduce stress and will help you stay better informed during the loan approval

Buying A Home As A Newly Married Couple

download (60)While the home buying struggles of unmarried couples are well-known, the process is not straight forward for married couples either. After tying the knot, many newlyweds look forward to buying a home together. But before you start scanning property listings and searching for the perfect bathroom suite, make sure you sit down together and ask each other these house buying questions.

What is your financial history and credit rating?

At the start of a relationship, couples talk all the time, from music to travel and everything in between. However, as a married couple you should have a serious conversation about your finances and credit scores.

While some couples will have already discussed their credit scores, others consider it a taboo topic of discussion. If one person has a credit score that is significantly lower than their partners, it could affect the couple’s chances of securing a mortgage to buy a property, or at a minimum affect the ability to get an appealing interest rate on a loan.

Discussing your credit scores with each other before arranging to meet with a mortgage lender is

Considerable Things While Buying a Prefab Container House

download (59)If you have decided to buy a prefab container house, then make sure that you consider the accompanying. These are vital to guarantee you get the right one.

Legal Requirements

It is imperative that you are acquainted with the zoning laws in your general vicinity and in addition the construction laws. A few groups may need diverse records before you can introduce the house. See to it that you give every one of the prerequisites.

Deterioration of Quality:

When you need to assemble value on property, then a prefab container house is not for you. Such houses are viewed as each property. These are like autos. This implies their worth will deteriorate with the passage of time. Nonetheless, not all manufactured homes are dealt with as personal property; some are considered as genuine property. Typically, if the house has an establishment connected to the ground, it is considered as genuine property. Different components must be considered also. These houses are dealt with diversely in various ranges. Knowing how your state treats the house is vital to the goal that you can get the

Home Exterior Considerations To Make Before You Buy

download (61)When you’re house hunting it’s very easy to focus in on certain attributes of a house that you find appealing. Unfortunately when you narrow your focus in on the things that are perfect about the house, you’ll often overlook some important things in the process. Make sure you thoroughly examine the exterior of your “dream home” before you go through with your purchase.

Here I’ll be giving you a specific list of key elements to examine while inspecting your potential home’s exterior. None of these issues have to be a home buying deal breaker, but the home-owner should be willing to help you resolve anything I list below before you sign on the dotted line and finalize your purchase.


Does the property have any trees? Trees can and to the overall beauty of the home, but they can also create problems for your foundation if they get to be too big. So be sure to examine how close these trees are to your homes foundation. Also if the tree already has well established roots within the home’s foundation, there can be

How to Purchase a Vacation Home With Friends or Family

download (58)You want a cottage by the sea, a chalet by a ski run or a lodge in the woods. But vacation homes are quite expensive, and most of us don’t have the time to care for a second home in addition to our primary residence? So, here is an idea: Split the financial obligations with a family member or friend! This article covers most of the important steps to learning how to purchase a vacation home.

Partnering up sounds great on paper, but purchasing a vacation home with family and friends can be risky. After all, if things do not go well, it can spell the end of your friendship. Not to mention you may end up in a legal battle over the home. After all, you might already be commonly renting a vacation place with said friends or family. Or you could take turns using the house, so you don’t actually overlap.

Still, this approach can also turn into an express lane to disaster if you don’t navigate the relationship with care and really learn how to purchase a vacation

5 Walk-Through Tips for Home-Buyers

download (57)One of the most important steps in the process of buying a home is the final walk-through. This is where the buyer can confirm the house is in the same condition he/she has agreed to buy it in. It’s also an opportunity to ensure that the agreed upon repairs, if any, were made as specified and nothing has gone wrong with the house since he/she last looked at it.

Sometimes, home buyers do not pay enough attention to the final walk-through because they’re too excited about finally closing on a home particularly if it has taken a while to find the right home for them. This may lead to small problems once the buyer takes ownership. On the contrary, the final walk through can raise both negative and positive emotions during this last part of the home selling process.

It is smart to take the walk-through seriously and think things through. Do not see it as just checking a box. During the walk through you should open all the faucets and inspect them for leaks. Ensure that the appliances work, turn