Friday, March 10, 2023 / by Ana Baldner
If you are buying or selling a home, chances are you will come across the term "home appraisal" at some point in the process. A home appraisal is a critical step in the real estate transaction process, as it can have a significant impact on the sale price of a property. In this guide, we'll take a closer look at home appraisals, what they are, and how they work.
What is a Home Appraisal?
A home appraisal is an unbiased estimate of the value of a property. The purpose of a home appraisal is to determine the fair market value of the property, which is the price that a willing buyer would pay and a willing seller would accept in an open market. Home appraisals are typically conducted by licensed and certified appraisers who have extensive knowledge of real estate and local market conditions.
How Does a Home Appraisal Work?
A home appraisal typically involves an inspection of the property, an analysis of comparable properties in the area, and an evaluation of market conditions. The. ...
Wednesday, February 15, 2023 / by Ana Baldner
A home inspection is a crucial part of the home buying process. It provides the buyer with an opportunity to identify any potential issues with the property before closing the deal. A home inspection is typically conducted by a licensed professional, and the results can have a significant impact on the buyer’s decision to purchase the property. In this article, we’ll discuss what happens during a home inspection and what buyers should look out for.
The Purpose of a Home Inspection
A home inspection is an evaluation of the overall condition of a property. The purpose of a home inspection is to identify any issues that could impact the safety or livability of the home. During the inspection, the inspector will evaluate the following:
The structure of the home, including the foundation, walls, and roof.
The mechanical systems, such as the HVAC systey ...
Thursday, September 1, 2022 / by Ana Baldner
Is buying cheaper than renting? This depends mostly on the local market and its conditions. The Real Estate market has been heating up the past couple years and many Americans are making the transition from tenant to homeowner.
With rents skyrocketing all over the country, some may make the assumption that even in a heated market, buying may be the better option. But the truth is, there are different associated costs that create key Pro's and Con's to either choice.
Costs of buying
The biggest upfront cost of buying is your down payment. Typically between 3-20% of the home's purchase price. If you do put less down, your interest rate will typically increase, making your monthly payments increase as well. There are many monthly costs you will face, your mortgage payment being the biggest, including principal and interest for your loan. This number could also go up or down if you have a variable interest rate. HOA dues should also be factored in, generally covering lan2 ...
Monday, June 20, 2022 / by Ana Baldner
You'd do everything you could to get the home you want, right? If you've been searching for a home the last 2 years, you know that you've got competition. One strategy that isn't taken advantage of enough: Backup offers
If a Buyer submits an offer and the Seller chooses another one, I encourage my Buyers to submit a Backup offer. A Backup offer is a bona-fide written offer - terms, pre-approval or proof of funds and all. There is an additional form that notes how long you're willing to be in Backup position. If the seller accepts and signs off then that home is secured for you, should the 1st Buyer fall through. A lot of Buyers say to me, "That probably won't happen though. I'll just resubmit my offer if it comes back on the market." I tell them, DON'T. If you wait for the property to come back on the market, then you're competing with the entire market again. Buyers fall through all the time, especially in a market where ; ...