As a beginning real estate owner, you can do yourself a favor by consulting many professionals who can give you their own perspective on a potential purchase. Here are the consultants that you should have in your corner when you're looking for property to buy.
The first person to get friendly with is your bank representative. If you are getting pre-approved for a mortgage, then you'll want to make sure that you understand what the true financial commitment would be on a property.
"Are you getting an FHA mortgage?" "Apply for an FHA loan. You'll get a better rate!" If you're house hunting in the United States, there's a good chance your friends, or perhaps even your realtor, have been making these statements. You might nod and agree, and you might even go through with applying for an FHA loan because that's what someone knowledgeable told you do to. But if you're like many house hunters, you don't really know what an FHA mortgage is or how it benefits you.
When you make an agreement with a realtor to sell your home, one of the factors of the agreement is to pay them a commission once the home is sold. It's common for the commission on the sale of a home to be around 6%, though it can vary depending on the cost of the home and the market you are in. That said, there will be times times where you may feel that your agent should lower their commission rate that you'll be paying.
In 2015 alone, over 5 million homes in the United States were sold. For many of these homes, an inspection has played a major role. The inspection could make or break a sale depending on the findings. When a buyer considers purchasing a home, it is ideal that they make sure a home inspection is performed before they write an offer on the home. This is to ensure there are no major problems going on in the home that the buyer does not know about.
The home selling process can certainly be daunting, especially for a first time home seller. While it's always best to work with a professional during the process, you can get started learning more about the process below by learning about the three common sins of home selling and how you can avoid them.
1. Keeping Your Home As-Is During Showings
It sure can be a pain to pack up the majority of your belongings and put them into storage until your home has sold, but less clutter and personal belongings will make the sale process much smoother and quicker.