Top 3 Real Estate Deal Killers

March 20, 2015

The way some people talk, it would take a miracle to make it from a signed purchase agreement to the closing table. But in reality, most real estate transactions go through with nary a hitch. Those that do hit snags, however, run the very real danger of completely falling apart.

The problems are sometimes out of the control of all parties. More often than not, though, there are ways to handle them that won’t result in killing the deal. Whether you are the buyer or the seller, read on to learn how to keep the deal alive.

 

The Good Faith Estimate, Defined

March 13, 2015

One of the most confusing aspects of the process for first-time homebuyers is the mortgage. Common homebuyer questions include: Where to get one, how to get one, and what does all that jargon mean?

Advice abounds, especially on the Internet. One common tip is that you should compare offers from lenders before settling on one – and that’s good advice.

Each lender that you visit will provide you with a form known as the Good Faith Estimate (GFE). By law, they must provide you with a GFE within three business days of receiving your application. This form contains all the information you’ll need to compare offers from lenders.

Let’s take a look at exactly what information the Good Faith Estimate provides and how you can use it when shopping for a home loan.

 

Homebuying Tips for Boat Owners

March 6, 2015

When one of the most important aspects of house hunting becomes finding a suitable parking place for your boat, it’s time to admit that you’re a boater for life.

You’re also using your noggin. When marina fees can run up to $500 a month in some parts of the country – and that’s without the additional cost of electricity – it might make more financial sense to purchase a home on the water, with a dock for your boat.

Whether it’s your main home or a vacation place, there are a few key things to consider before deciding on a particular dock that just happens to come with a house.

 

The 6 (Not-So-Simple) Steps to Securing a Home Loan

February 27, 2015

From the word “mortgage” to the methods used by lenders to determine how much to loan, the home loan process can be confusing to first timers.  In fact, one third of the respondents to a 2011 Wall Street Journal survey of homebuyers said that the most difficult part of buying a home was understanding the loan process.

It can also be quite stressful, especially when you’ve got your eye on a cute Craftsman bungalow and are waiting on pins and needles to learn if you qualify to purchase it.

Let’s take a look at the conventional home loan process, from start to finish. Here’s a breakdown of the process in six steps to help you get a better understanding of it.