10 Real Estate Tips For Buyers

1. Before venturing out to look at the first house it is wise to be pre-qualified to determine how much you can afford. A pre-qualified letter also puts you in a good position to have your bid taken seriously by a seller.

2.Don't get caught up in the aesthetics of a house. Instead, look at the soundness of the structure.

3.Resist buying the first house you look at because you think you absolutely must have it.

4.Make a list of non-negotiable amenities you must have in your home and don't compromise.

5.Don't assume that a house is priced accurately. Do your homework and investigate how much similar homes in the area sold for in the last six months.

6.Check to see if there are back taxes due on the property you are interested in. This could give you invaluable bargaining power with the seller.

7.Find out how long the house has been on the market. The longer a house has been listed, the more motivated a seller may be.

8.Remember the golden rule of real estate is location, location, location. Make sure the house of your dreams isn't in a location you are not prepared to live in. Visit the home at different times of the week and at different times of the day and night.

9.Find out what construction is planned for the area that surrounds the house you are thinking of buying.

10.Make sure the house is inspected from top to bottom by a professional home inspector.

By: sichermove

Tips to Sell Your House Quickly

Every individual looks for distinct ways to sell house quickly and fast. It probably may occur due to number of reasons like Relocation, Financial Difficulties, Negative Equity, Divorce or Separation, Repossessions. In such a situation one wishes the process of selling a house to be hassle free. Here are some of the tips that may help to achieve a quick house sale in Berkshire.

Once selling a house is decided, you must see what you want to include in its sale. Generally, the fittings and fixtures are included in basic price but movables can be negotiated. To sell property fast and to avoid clutter later, dispose of any items that you do not need any longer before you start with the sale process.

You have to give certain useful documents connected with your property to your agent like gas & electrical certificate checks, building regulations certificates, council tax, insurance bills, etc. Such documents are required to present to your potential buyers and if you have these at hand then it will allow for you to sell your house fast.

To calculate the correct value of your house, a survey is the most accurate means as it is carried out by a qualified individual namely a RICS survey. Speaking to some local estate agents can be a good idea to get an idea but do bear in mind that an agent will only ever be able to give their opinion and they do tend to inflate the price in order to generate business.

Selling the property through an estate agent involves many significant risks. In fact it could be expensive and time consuming as well. If you decide to involve an estate agent, they will ask you for information regarding the property before requesting for viewings should there be interest. Any potential buyer will want to see the house in a prestige and tidy condition to help them visualize a property that they could see themselves living in. If you decide to go with an agent then do bear this in mind and if you can get things tidied up and neat then this will help a great deal.

Many people do not realise just how long it can even take for a house to be sold. According to www.house.co.uk the average time for a property to sell is 207 days, that is over 6.5 months. Can you afford to wait that long? With the residential market at record lows, selling your house on the open market is more difficult than ever, and with lenders changing lending criteria many people are simply finding it difficult to get a mortgage which has resulted in many broken chains; Is this happening to you?

There are many things to consider when looking at selling your property. If you need to sell quickly then maybe an estate agent is not the best means. If you can afford to wait then great, you can give it a try however if you feel you do not want to risk the uncertainty of not selling and want a guaranteed solution then maybe a cash buyer would be a suitable solution for you. A cash buyer typically is able to raise cash finance quickly resulting in a quick sale of usually 28 days. They also agree to pay all your fees and are happy to complete within a time to suit you.

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Home Buying Tips for the First Time Home Buyer

If you're a first time home buyer and your wallet is not overflowing, the first thing you need to do is get yourself pre-approved by a lender. Assuming they decide you're of good character and there's a pretty good chance you'll choose to pay their monthly stipend, they'll tell you what the maximum is that they will lend you, so now you have a figure with which to work.

The easy part is to figure how many bedrooms and bathrooms you want. Find out the amount of square footage you're living in now. Decide if that's less than or more than you need to feel comfortable and then begin your search.

Feed your search engine with these facts, i.e. 2 bedrooms, 2 bathrooms, minimum 1200 square feet and your maximum listing price and see what pops up. Don't forget to add to your monthly expenses the estimated property tax - take the annual amount of property tax, divide by 12 and that's your monthly addition to your budget.

If the property you're considering has an association - condo or HOA - there are also going to be common charges. See what they are and how often they're assessed - usually monthly or quarterly. If it's quarterly, divide by 3 and that's your monthly amount. You're probably going to need homeowner's insurance. Usually the lender insists on it, to protect their investment in your property.

Make a couple of calls to find out what the approximate charge will be and divide that into a monthly amount. Then there are your utilities - electric, telephone, cable, water, sewer. If there's a homeowner's association, some of these are probably included. Find out.

Once you're armed with these figures and you've decided how much of your earnings you want to give away in order to move from under that bridge or out of Mom and Dad's or from that rental apartment that you thought was so terrific when you first moved into it, it's time to start house hunting. And that's the fun part!

If you haven't done your homework, you'll be wasting your time and your realtor's time looking at properties that will not work for you. Give your realtor the maximum amount of information that you can. Talk about communities that appeal to you. Talk about driving time to work.

Talk about pets, your vehicles, child friendly communities or not, how important security is to you, i.e. gated communities, your need to be near public transportation or close to beaches. There's a long list that belongs exclusively to you that makes up your wish list. Communicate well and save time. Be prepared to compromise on some of those wishes. Decide if you want a renovated property or a fixer upper or anywhere in between.

It's my opinion that unless you have experience renovating, whatever the budget you create, it's probably going to cost around double that number. It's also my experience that if you're inexperienced, it will be cheaper and easier in the long run to pay more for that renovated property instead of doing it yourself. It's also my experience that most people don't listen to advice and do what they want. And then live to regret their decisions.

Once you've seen 3 properties, it's time to have a talk with your realtor. Is the space too small? Are you changing your mind about your needs? Or are you on the right track and just need to find the right one. Most people walk in the front door and know immediately if this is the one. Something talks to them, first saying no, no, no and then yes, I love it!

If you're moving because you require more space, i.e. another bedroom, a larger home, a bigger kitchen, then you know what you're looking for. And a lot of people like to stay in the same community and just move up one level. But you need to do your homework with a Lender and calculate your expenses so you'll have that listing/selling price figured out.

Unless you have nerves of steel and can afford to carry two properties at the same time, I advise you to sell your home first and then start looking. No sense shopping for the new home till the old one is sold. That's not to say that you can't shop Open Houses and check out model homes. That'

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FSBO - You Can Sell Your Home Yourself

If it's time to buy a new home and you already decided to sell your house, wait a bit before you turn to a real estate agency.

Maybe this is your first time home selling, and you think it would be better to entrust the whole stuff to a professional. But what makes you think you can't do it on your own?

FSBO means 'For Sale By Owner' and it is used to describe home owners who sell their homes themselves and don't use a real estate company when they sell their homes and land.

Believe it or not, with the proper knowledge and the right help just about anyone can successfully sell (or buy) without using a real estate agency. Sometimes an owner can even do a better job than many real estate agents.

FSBO makes selling a home on your own easy. A growing percentage of homeowners are realizing how easy and economical it is to sell your own home without using real estate agents and agencies. You can save a lot on real estate commissions every time you sell your house. It is very important that your home's selling price is determined by you, not a real estate broker who takes a x% fee for selling your home.

It is recommended to get information about prices from as many sources as possible, for instance with the help of Real Estate Websites.

An agent may tell you that the main reason to use them rather than FSBO is that they can place your home in the Multiple Listing Service, and you can not. They may imply that your chances of selling without being in the MLS are next to nothing. Don't believe it. The truth is that up to one in 3 homes sell by owner and very few, if any, of those were MLS listed.

Usually buyers look at For Sale By Owners as well as listed homes. They don't only browse ads that are in the MLS, though realtors dreaming of that.

Honestly, you don't need a real estate agent to sell or purchase property - that's clear. Keep your money for something else and give a trial to rely on your own skills.

From Goarticles.com

Homeowners Insurance Questions - What You Need to Know

Reading a homeowners insurance policy can be confusing. Here are answers to the most-asked homeowners insurance questions that explain what homeowners insurance is, and what it covers.

What is homeowners insurance?

Homeowners insurance is a contract between you and your insurance company that protects you from financial loss when your home is damaged or destroyed, or when someone hurts themselves and you're found to be at fault. You pay a premium for which your insurer agrees to pay for any damages that are outlined in your policy.

What does homeowners insurance cover?

Homeowners insurance covers the following:

* House structure coverage which pays to repair or rebuild your home when it's been damaged or destroyed by fire, storms, vandalism, and water leaks. Earthquakes and floods are not covered, so if you live in an earthquake or flood zone you'll need to get additional coverage.

* Personal coverage which pays to replace any of your personal property that's been stolen, or damaged by fire, storms, vandalism, and water leaks. Expensive items like computers and jewelry may have a limit on coverage, so you may need additional coverage for these items.

* Loss of use coverage which pays for your additional living expenses - hotel, motel, and restaurant bills - when your house has been damaged by fire, storms, vandalism, or water leaks, and is being repaired.

How much coverage should I get?

For house structure coverage you should get enough coverage to pay for rebuilding your house. You can find out how much this would cost by asking a local builder or real estate agent.

For personal property coverage you should get enough coverage to replace your possessions. You can figure out how much you need by totaling the value of all your personal possessions - furniture, clothing, appliances, electronics, tools, etc.

Where can I get inexpensive homeowners insurance?

In order to get the least expensive homeowners insurance you need to go to an insurance comparison website so you can compare rates from a number of companies.

From Goarticles.com

Foreclosure Homes for Sale

Are you on a small budget, but you want to purchase a home? If you are on a small budget, and you want to get a home, to start living as a family in an area that you love, look towards homes that have recently been foreclosed. A foreclosure is one that someone else has lost. The homeowner may not have been able to keep up on their mortgage payments, and the bank has taken over the property. Banks and financial companies don't like to hold onto these properties for long, because of the interest, the payments and the money that is being lost over all.

To find a home that has been through foreclosure you can begin your search online or offline. Many links to foreclosure companies and banks are going to offer listings of where foreclosure homes have been located. A foreclosure company is going to offer great rates, and will offer great prices on homes that they want to sell.

While nothing can be done for those who have been through the foreclosure process, and for those who have lost their homes, you can take advantage of the situation. You can purchase home, at a reasonable cost, and create a home for your family.

To purchase a home that has been through foreclosure, the process is going to be very similar to that of any other mortgage. You will have to apply for a mortgage, you will have to pass the background check, and you will be subject to interest costs, and closing costs of the mortgage. A foreclosure home may require some additional legal background work, so you will need to hire an attorney to look out for your best interests.

A foreclosure home is one that has been abandoned because the previous owners could no longer pay for the home. You will find that many types, sizes, and styles of homes are often included on the foreclosure listings by banks. You will find one bedroom homes, two bedrooms homes, rental units, retail and commercial buildings and you will find luxury homes, vacation homes, even mansions included on foreclosure listings.

The home of your dreams could be very affordable if you take the time to look at the foreclosure listings. The foreclosure listings will give you an idea of the city and the state where the home is located, and from there you are often required to contact the bank, the financial company or perhaps a real estate agent as listed, to find out more about the property. The only limitations you will have in purchasing foreclosure homes is going to be your credit limit and where you want to live. Homes from across the nation, from Vegas, California, to Virginia, Florida and in Washington are available for purchase.

From Goarticles.com

Tips For Closing the For Sale By Owner Deal

Once the buyer signs the sales contract, you might feel the urge to relax. Don't sit back and kick your feet up just yet. Your work is not complete just yet. The buyer can still back out of the deal if certain things go wrong in these last steps of the for sale by owner process. Buyers tend to get cold feet at this point. They see other for sale by owner homes they like for a lower price. You have to take steps to make sure the buyer doesnt back out of the deal.

After the for sale by owner sales contract has been signed, the buyers lender will have an appraisal done to ensure that the borrower isnt asking for more money than your home is actually worth. The lender will not provide a loan if the home is appraised for less than the sale price. You can avoid this by having your own appraisal done when you are setting your price in the for sale by owner process. Alternatively, you can make sure that your price is comparable to that of similar homes sold in your neighborhood.

The lender might have your for sale by owner land surveyed to establish the property boundaries. In most cases, this doesnt present a problem. If your [for sale by owner property has not been surveyed in the last 50 years, has recently been subdivided between other people, or has a boundary that changes like a creek, then you should pay attention during this part of the process.

The buyer might have his own inspections done as allowed by the sales contract. These inspections are done at the buyers expense and include termite, roof, and general inspection. Be available during the inspection. Ask questions about anything you do not understand. If you so choose, you can have your own inspection completed. It could prove helpful if you need to dispute a report, but is not necessary. Your primary concern should be to fix problems and keep the buyer from backing out of the for sale by owner contract.

You should notify your lender that you will be paying off the balance of your mortgage and ask for a statement of your balance. Collect appliance instruction books and warranty information to give to the buyer. Finally, when you know the closing date, you should notify service providers like electricity, water, cable, and trash of your final billing date.

The for sale by owner closing date will be about 30 to 45 days from the date the sales contract is signed. Depending on your state, your real estate attorney might handle the closing. Alternatively, the lenders attorney might handle it and your attorney will act as your representative.

At the for sale by owner closing, the settlement statement is reviewed. This statement details the money received. This includes: the lenders check for the mortgage amount, buyers down payment, and the buyers earnest money deposit. The settlement statement also includes money that must be paid out: balance on the sellers current mortgage, real estate agent fees (if applicable), and closing costs. Finally, the statement will detail the amount you get to keep.

The title to the house is then transferred to the buyer and the process is complete. Your hard work has paid off.

From Goarticles.com