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How to Get a Good Deal in Rising or Falling Markets - ...ss, at some point you’ll have to return to the above
comparison and one way or the other, make “What’s left for me to
live on&...
Rent a home - ...be down in
Michigan. Down in Massachusetts, up in Arkansas. If you’ve only got
one house to buy, national statistics don’t make to...
What Are the Pros and Cons of Condo Co ops versus Single Family Homes - ... Private Ownership
Pros of Owning a Single-Family House
You are generally “master of your domain”
Incre...
Where do I find a good lender - ... a mortgage broker can
match you up with just the right lender for your needs.
Ask your real estate agent for a mortgage broker recommendation.
Als...
What are the chances of a seller agreeing to pay your closing costs - ...r all of your closing
costs. On the other hand, if you’re giving the seller
pretty much what he or she wants in price and the market
isn&rsqu...
Boying a home Effective interest rate and mortgages - ...of 1979 through 1981
and 1999 to 2003 so you can see how the index performed
in both high-interest-rate and low-interest-rate
economic con...
FHA and VA mortgages - ...s are insured by the government and are offered
through most lenders, such as banks. Generally the down payment
is low, under 5 percent. The interes...
Recognizing a Good Real Estate Agent - ...u see the
selling of property from the agent’s perspective, you may get a whole
new view of how to pick the right one.
What...
Find an active real estate agent - ...y around.
Remember, agents influence your decision by what they do or do
not say. Be sure that they aren’t using this power to manipulate you
...
What About the Bad Apples - ...ese?
Fortunately, in most cases the bad apples don’t last long. After a
few deals they often mess up so badly that there are letters of compl...
Find the Right House in the Right Area at the Right Price - ...rong>
Parameters
How many bedrooms will you need? Most houses have three or four
bedrooms. You’ll probably h...
BUY A LESS EXPENSIVE HOUSE THE BEST NEIGHBORHOOD - ...rt to look the same. Therefore it’s a good
idea to keep in mind the following:
How to Avoid Buyer’s Burnout
...
How Do I Negotiate in Real Estate - .../p>
Should I Rely on the Agent?
At this point, I’m sure some readers are saying, “Hold on. I worked
with an agent...
Have You Tried Hiring an Appraiser - ...n low, it can provide ammunition to blast the seller
down from a high asking price.
Appraisers usually work on a fee basis for lenders.
C...
What If the Seller Does not Accept My Offer - ...uo;re entitled to your money back. If the seller accepts
your terms but counters with a different price, which you don’t
accept, the deal&rsqu...
What are Contingencies - ...r whose advice was, “No matter what the
contract, always be sure that somewhere in it, it says, ‘subject to.’ I
don’t care w...
Should I Agree to an Arbitration Clause - ...nt. If the seller refuses to go through
with the deal after you’ve made all sorts of commitments (from accepting a new job, to putting ...
Where can i find a fixer - ...heir deficiencies, they are typically sold at a discount.
If you’re having trouble finding a home you can afford to buy in
the neighborhood yo...
How Do I Find the Right New Home - ...ONEY UP FRONT
The cardinal rule for financing a fixer is to line up all
the money you’ll need in advance. The reason is tha...
What If the Builder is Slow or Stops Construction - ...y a new home in a development
in Orange County, south of Los Angeles. Jill loved the location
and fell in love with one of the models. There were se...
How do I find a good builder - ...e years the house is in existence, offering greater
protection in the first years and less in the later ones.
Many insurance-backed warranties are t...
Buying Directly from Sellers FSBOs - ...f you’re house hunting, you owe it to yourself to check out the
FSBOs in the area where you want to live. You just might find
exactly wh...
Be your own contractor - ...aw up a set of
plans just for you.
Mail-Order Plans
Mail order is definitely the cheapest way to go, since a set of plans ...
Home Inspection Checklist - ... where drainage problems exist.
Drainage Checklist
yes no
Is there dampness under the house? (The basement
shoul...
New Changes to Closing Procedures - ...es that only benefit the
lender. (What are garbage fees is open to interpretation I give you
my take on it throughout this article.) On the other ha...
How do I find a property - ...
How Do I Actually Flip a
Property?
The mechanics of the deal can be complicated, particularl...
The lease option - ...proposes
to rent it. However, in addition to renting it (the lease), the
buyer also gets the seller to commit to selling it at some time in the
fut...
12 Steps to Quicker and Easier Home Buying - ...s played, even a grammar school team could beat you.
Real estate is similar. Buying a home is not like buying anything
else. It’s not li...
12 Tips for Making Successful Counteroffers - ...tually anything else that departs from your original
offer.
It is at this point that negotiations begin in earnest. How well you
respond t...
12 Techniques for Helping Your Credit In todays world credit is all important - ...r out there somewhere
who has a loan for everyone. However, the worse your credit, the
higher the interest rate, the more cash you must come u...
Internet Resources Government Agencies - ...ces/hsg/index.cfm
Information on FHA loan insurance and housing programs
Veteran’s Administration ...
latest articles under "Home business"
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Below is a list of all Home business articles. If you want to find a tutorial by keywords, all you have to do is a quick search in our directory. Just use the search option available at the top-right side of the page. The website search is powered by web-articles. Or, if you want to read specific Home business tutorial, just point to it. The newest articles and tutorials are shown first in the list. To access the last ones, browse the pages 2, 3, 4... at the bottom. Also, you may browse articles alphabetically ordered.
Page# 1 (last added articles shown first)
Enter page# 1 (last added articles shown first)
Below is a list of all Home business articles. If you want to find a tutorial by keywords, all you have to do is a quick search in our directory. Just use the search option available at the top-right side of the page. The website search is powered by web-articles. Or, if you want to read specific Home business tutorial, just point to it. The newest articles and tutorials are shown first in the list. To access the last ones, browse the pages 2, 3, 4... at the bottom. Also, you may browse articles alphabetically ordered.
Page# 1 (last added articles shown first)
What are the chances of a seller agreeing to pay your closing costs (06/01/2007)
(...) Sometimes lenders will give you a mortgage but increase the interest rate to justify the increased risk to them. Sometimes sellers simply won’t care. And there’s always the chance you can find a house that has an old mortgage on it (usually FHA or VA) that you can assume with no qualifying at all. (...)
(...) Sometimes lenders will give you a mortgage but increase the interest rate to justify the increased risk to them. Sometimes sellers simply won’t care. And there’s always the chance you can find a house that has an old mortgage on it (usually FHA or VA) that you can assume with no qualifying at all. (...)
Boying a home Effective interest rate and mortgages (06/01/2007)
(...) The lender’s margin is added to the index, and this can increase your effective interest rate substantially. Plan Your Strategy If you’re going to live in the home only a short time and then resell, get the lowest teaser rate with the longest adjustment periods and shortest steps possible. For example, if you plan to live in the property for only three years, you might be able to find an ARM that gives you a below-market interest rate for the entire period of time! Also, most people aim for the most stable index. (...)
(...) The lender’s margin is added to the index, and this can increase your effective interest rate substantially. Plan Your Strategy If you’re going to live in the home only a short time and then resell, get the lowest teaser rate with the longest adjustment periods and shortest steps possible. For example, if you plan to live in the property for only three years, you might be able to find an ARM that gives you a below-market interest rate for the entire period of time! Also, most people aim for the most stable index. (...)
FHA and VA mortgages (06/01/2007)
(...) ) The premium is fairly high close to 4 percent of the loan amount. You can, however, add the premium to the loan, although this does increase your monthly payments. Additionally, you are required to occupy the property as your residence in order to get a low down payment, and the property itself must pass a strict qualifying appraisal. (...)
(...) ) The premium is fairly high close to 4 percent of the loan amount. You can, however, add the premium to the loan, although this does increase your monthly payments. Additionally, you are required to occupy the property as your residence in order to get a low down payment, and the property itself must pass a strict qualifying appraisal. (...)
Recognizing a Good Real Estate Agent (06/01/2007)
(...) The agent is experienced and “up to speed” (at least five years actively in the business). The agent can provide referrals of recent satisfied home buyers. The truth is somewhat less exciting. (...)
(...) The agent is experienced and “up to speed” (at least five years actively in the business). The agent can provide referrals of recent satisfied home buyers. The truth is somewhat less exciting. (...)
Find an active real estate agent (06/01/2007)
(...) The agent isn’t a mind reader and can’t find the perfect house for you unless and until you give the agent the parameters of what you’re seeking. This doesn’t mean you need to tell agents everything about your finances or your intentions, as we’ll see shortly. Just offer enough to enable them to work for you. (...)
(...) The agent isn’t a mind reader and can’t find the perfect house for you unless and until you give the agent the parameters of what you’re seeking. This doesn’t mean you need to tell agents everything about your finances or your intentions, as we’ll see shortly. Just offer enough to enable them to work for you. (...)
What About the Bad Apples (06/01/2007)
(...) Try to do business only with an agent or office that has a long track record five years at the least. Work with a national franchisee. While earlier I stressed that this is no guarantee you’ll get an active agent, it does give you some assurance of at least minimal quality in terms of procedures. (...)
(...) Try to do business only with an agent or office that has a long track record five years at the least. Work with a national franchisee. While earlier I stressed that this is no guarantee you’ll get an active agent, it does give you some assurance of at least minimal quality in terms of procedures. (...)
Find the Right House in the Right Area at the Right Price (06/01/2007)
(...) Do you want a newer house with all the modern goodies such as better insulation, copper plumbing, high-efficiency heating and cooling, heavy-duty electrical systems, and what comes with all that fewer repairs? Or will you settle for the comforts of an older, established home such as a fully grown garden, larger lot, and developed neighborhood? Do you want something new? Are there any special features that you must have? (These include breakfast nooks, work area in the garage, washer and dryer near the bedroom, home office room(s), skylights, and wood paneling.) Try to be as flexible as possible. The more you must have, the more it’s going to cost you. (...)
(...) Do you want a newer house with all the modern goodies such as better insulation, copper plumbing, high-efficiency heating and cooling, heavy-duty electrical systems, and what comes with all that fewer repairs? Or will you settle for the comforts of an older, established home such as a fully grown garden, larger lot, and developed neighborhood? Do you want something new? Are there any special features that you must have? (These include breakfast nooks, work area in the garage, washer and dryer near the bedroom, home office room(s), skylights, and wood paneling.) Try to be as flexible as possible. The more you must have, the more it’s going to cost you. (...)
BUY A LESS EXPENSIVE HOUSE THE BEST NEIGHBORHOOD (06/01/2007)
(...) Never look at more than three or four houses in any one session. After that, you’re no longer being careful. You’re just running through, not paying attention to the details that could make you fall in love with a place. (...)
(...) Never look at more than three or four houses in any one session. After that, you’re no longer being careful. You’re just running through, not paying attention to the details that could make you fall in love with a place. (...)
How Do I Negotiate in Real Estate (06/01/2007)
(...) You may have gotten a good price, but if you did, it was largely because of your own efforts. The agent in many cases is the seller’s agent, with a fiduciary responsibility to the seller to find a buyer. In most states it is unethical if not outright illegal for the seller’s agent to even suggest that you offer less than the seller is asking! This doesn’t mean that agents don’t, in fact, do so. (...)
(...) You may have gotten a good price, but if you did, it was largely because of your own efforts. The agent in many cases is the seller’s agent, with a fiduciary responsibility to the seller to find a buyer. In most states it is unethical if not outright illegal for the seller’s agent to even suggest that you offer less than the seller is asking! This doesn’t mean that agents don’t, in fact, do so. (...)
Have You Tried Hiring an Appraiser (06/01/2007)
(...) Finally, remember that even if you ultimately don’t purchase the property, you’re still liable for the cost of the appraisal. Appraisers can be recommended by lenders. They are also listed in the yellow pages of your phone directory. (...)
(...) Finally, remember that even if you ultimately don’t purchase the property, you’re still liable for the cost of the appraisal. Appraisers can be recommended by lenders. They are also listed in the yellow pages of your phone directory. (...)
What If the Seller Does not Accept My Offer (06/01/2007)
(...) Therefore, I’m entitled to half the deposit. I’ll return half to you and keep the other half.” No way. (...)
(...) Therefore, I’m entitled to half the deposit. I’ll return half to you and keep the other half.” No way. (...)
What are Contingencies (06/01/2007)
(...) Some contingencies are absolutely desirable for the sales agreement and few agents would hesitate to put them in. Typical contingency clauses include: Common Contingency Clauses Financing If you can’t get the financing you need, there is no deal and you get your deposit back. Disclosures You have the right to approve the seller’s property disclosures. (...)
(...) Some contingencies are absolutely desirable for the sales agreement and few agents would hesitate to put them in. Typical contingency clauses include: Common Contingency Clauses Financing If you can’t get the financing you need, there is no deal and you get your deposit back. Disclosures You have the right to approve the seller’s property disclosures. (...)
Should I Agree to an Arbitration Clause (06/01/2007)
(...) If you agree to arbitration, just remember that for it to be effective, both you (the buyer) and the seller have to agree. If just one agrees, it won’t work. Also, be sure you know who the arbitrator will be. (...)
(...) If you agree to arbitration, just remember that for it to be effective, both you (the buyer) and the seller have to agree. If just one agrees, it won’t work. Also, be sure you know who the arbitrator will be. (...)
Where can i find a fixer (06/01/2007)
(...) They are: Get into an area you’d otherwise not be able to afford Get into a house you’d otherwise not be able to afford Make a profit TIP IT’S NOT SIMPLY COSMETIC My wife and I have a running battle over what constitutes a fixer. She feels that if the paint isn’t new and there are one or two cracked counter tiles, it’s a fixer. I, on the other hand, maintain that the property has to have a big enough problem that no one will pay full price for it obsolete kitchen/bath, broken doors in interior, cracked foundation, and so on. (...)
(...) They are: Get into an area you’d otherwise not be able to afford Get into a house you’d otherwise not be able to afford Make a profit TIP IT’S NOT SIMPLY COSMETIC My wife and I have a running battle over what constitutes a fixer. She feels that if the paint isn’t new and there are one or two cracked counter tiles, it’s a fixer. I, on the other hand, maintain that the property has to have a big enough problem that no one will pay full price for it obsolete kitchen/bath, broken doors in interior, cracked foundation, and so on. (...)
How Do I Find the Right New Home (06/01/2007)
(...) (Refer to our earlier formula for determining how much to pay.) Sellers have heard that property prices have gone up. And they want to participate on the boom. (...)
(...) (Refer to our earlier formula for determining how much to pay.) Sellers have heard that property prices have gone up. And they want to participate on the boom. (...)
What If the Builder is Slow or Stops Construction (06/01/2007)
(...) Jill, and a number of others, were haunting his offices trying to find out what the problem was. All she could get were vague answers. She was told that the lenders would not agree to the financing because of some title problems. (...)
(...) Jill, and a number of others, were haunting his offices trying to find out what the problem was. All she could get were vague answers. She was told that the lenders would not agree to the financing because of some title problems. (...)
How do I find a good builder (06/01/2007)
(...) Just because it’s a new home, that doesn’t mean it’s built right. You should have it inspected both before you move in, and if possible, several times during the construction phase. Agood builder will not only allow you to do this, but will encourage you to do it. (...)
(...) Just because it’s a new home, that doesn’t mean it’s built right. You should have it inspected both before you move in, and if possible, several times during the construction phase. Agood builder will not only allow you to do this, but will encourage you to do it. (...)
Be your own contractor (06/01/2007)
(...) Some of the plans that I have seen sent through the mail are simply a front view and an inside view. They definitely give you enough to see what the house will look like, but they’re a far cry from being detailed enough for you or a builder to work with. If you order through the mail, be sure that there is a full “money back” guarantee. (...)
(...) Some of the plans that I have seen sent through the mail are simply a front view and an inside view. They definitely give you enough to see what the house will look like, but they’re a far cry from being detailed enough for you or a builder to work with. If you order through the mail, be sure that there is a full “money back” guarantee. (...)
Home Inspection Checklist (06/01/2007)
(...) Within this peripheral foundation there may be concrete blocks holding up piers that support the floor (in a wood floor home) or a concrete slab (in a cement floor home). The peripheral foundation typically has “footings” that extend downward perhaps two feet or more. (In freezing climates the footings should be below the freeze line. (...)
(...) Within this peripheral foundation there may be concrete blocks holding up piers that support the floor (in a wood floor home) or a concrete slab (in a cement floor home). The peripheral foundation typically has “footings” that extend downward perhaps two feet or more. (In freezing climates the footings should be below the freeze line. (...)
New Changes to Closing Procedures (06/01/2007)
(...) In addition HUD (Department of Housing and Urban Development) requires that a HUD-1 statement of your closing expenses be given to you, but not until within one day of closing. By then, of course, it’s usually too late to do anything about the costs. New Changes to Closing Procedures Because current closing procedures have produced so many problems and complaints, HUD has indicated it may adopt a two-tiered system (not yet in effect as of this writing). (...)
(...) In addition HUD (Department of Housing and Urban Development) requires that a HUD-1 statement of your closing expenses be given to you, but not until within one day of closing. By then, of course, it’s usually too late to do anything about the costs. New Changes to Closing Procedures Because current closing procedures have produced so many problems and complaints, HUD has indicated it may adopt a two-tiered system (not yet in effect as of this writing). (...)
How do I find a property (06/01/2007)
(...) Depending on how your offer was structured, your time period can be anywhere from a minimum of about 30 days to a maximum of about six months. You then bring in a rebuyer (one who actually purchases the property) who concludes the sale with the original seller. The rebuyer puts up the cash down payment and closing costs and gets new financing. (...)
(...) Depending on how your offer was structured, your time period can be anywhere from a minimum of about 30 days to a maximum of about six months. You then bring in a rebuyer (one who actually purchases the property) who concludes the sale with the original seller. The rebuyer puts up the cash down payment and closing costs and gets new financing. (...)
The lease option (06/01/2007)
(...) Just remember, however, that until you are able to exercise the option, you are still just a tenant. Sellers will often want to charge a higher-than-market rental for a lease-option. If they do, they should credit you with the difference between the market rental rate and that higher rent when it comes to exercising your option. (...)
(...) Just remember, however, that until you are able to exercise the option, you are still just a tenant. Sellers will often want to charge a higher-than-market rental for a lease-option. If they do, they should credit you with the difference between the market rental rate and that higher rent when it comes to exercising your option. (...)
12 Steps to Quicker and Easier Home Buying (06/01/2007)
(...) But not anymore. In quickstep, here are the 12 procedural motions you’ll want to go through in making your purchase: The 12 Steps to Making a Purchase 1. PRE-APPROVAL You decide you want to buy (or at least want to look) and get pre-approved. (...)
(...) But not anymore. In quickstep, here are the 12 procedural motions you’ll want to go through in making your purchase: The 12 Steps to Making a Purchase 1. PRE-APPROVAL You decide you want to buy (or at least want to look) and get pre-approved. (...)
12 Tips for Making Successful Counteroffers (06/01/2007)
(...) The sellers either accept the offer exactly as presented or turn it down. If the sellers turn down the offer, they can make a counteroffer to you. (They can’t both accept and counter. (...)
(...) The sellers either accept the offer exactly as presented or turn it down. If the sellers turn down the offer, they can make a counteroffer to you. (They can’t both accept and counter. (...)
12 Techniques for Helping Your Credit In todays world credit is all important (06/01/2007)
(...) Technique 1 Change Your Attitude Many people are surprised to learn that even a few late payments can seriously affect their ability to get real estate financing. The attitude, “I’ll pay when I’m good and ready,” may sound defiant against a creditor whom you dislike, but when those late payments show up on your credit report, your future mortgage lender wonders if you’ll say the same thing to it. If you’re behind in payments, catch up before applying for the mortgage. (...)
(...) Technique 1 Change Your Attitude Many people are surprised to learn that even a few late payments can seriously affect their ability to get real estate financing. The attitude, “I’ll pay when I’m good and ready,” may sound defiant against a creditor whom you dislike, but when those late payments show up on your credit report, your future mortgage lender wonders if you’ll say the same thing to it. If you’re behind in payments, catch up before applying for the mortgage. (...)
Internet Resources Government Agencies (06/01/2007)
(...) com and www.homepath.com Loans, settlement procedures, and foreclosures Freddie Mac www. (...)
(...) com and www.homepath.com Loans, settlement procedures, and foreclosures Freddie Mac www. (...)
Should I Buy a Home (05/31/2007)
(...) Today it all comes down to what the lender says you can afford how big a mortgage the lender is willing to give you. (It could be for 100 percent of the purchase price!) After all, you can always borrow less than a lender’s maximum (to reduce your monthly payment, for example). But, it’s very hard to borrow more. (...)
(...) Today it all comes down to what the lender says you can afford how big a mortgage the lender is willing to give you. (It could be for 100 percent of the purchase price!) After all, you can always borrow less than a lender’s maximum (to reduce your monthly payment, for example). But, it’s very hard to borrow more. (...)
How to Get a Good Deal in Rising or Falling Markets (05/31/2007)
(...) If you can, probably the best time of the year to buy your home is in December, preferably during the last two weeks of the month when everyone is fussing about the holidays. Historically, there are fewer home sales between Thanksgiving and New Year’s (by a wide margin) than any other time of the year, simply because fewer buyers are out looking. Most buyers get involved with the holidays and put off home searching until after the New Year. (...)
(...) If you can, probably the best time of the year to buy your home is in December, preferably during the last two weeks of the month when everyone is fussing about the holidays. Historically, there are fewer home sales between Thanksgiving and New Year’s (by a wide margin) than any other time of the year, simply because fewer buyers are out looking. Most buyers get involved with the holidays and put off home searching until after the New Year. (...)
Rent a home (05/31/2007)
(...) ” They may be even higher next year and the year after. Don’t simply say, “This house is cheap because it’s selling for less than it did a year ago.” It may be worth far less a year from now and the year after, worth even less. (...)
(...) ” They may be even higher next year and the year after. Don’t simply say, “This house is cheap because it’s selling for less than it did a year ago.” It may be worth far less a year from now and the year after, worth even less. (...)
What Are the Pros and Cons of Condo Co ops versus Single Family Homes (05/31/2007)
(...) On the other hand, be aware of HOAburnout. This comes after you’ve been a member of the board for a year or two and found that you can’t get done what you want to get done. Often, owners will get discouraged and will then sell their unit. (...)
(...) On the other hand, be aware of HOAburnout. This comes after you’ve been a member of the board for a year or two and found that you can’t get done what you want to get done. Often, owners will get discouraged and will then sell their unit. (...)
Where do I find a good lender (05/31/2007)
(...) As a last resort they are listed in the yellow pages under Mortgage Brokers. (Note: A mortgage banker may not make loans directly to consumers. Look for a mortgage broker. (...)
(...) As a last resort they are listed in the yellow pages under Mortgage Brokers. (Note: A mortgage banker may not make loans directly to consumers. Look for a mortgage broker. (...)
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