Real Estate Transaction

A ealr estate transaction is the largest deal most people will ever make. Whether you are a buyer or a seller it is a long and complicated process.

If you are a buyer you may have several questions. What is included in closing costs? Do I need an attorney? What do real estate agents do for me? These are important questions, and you should get answers.

Likewise, if you are selling a house there are many questions? Do you need a lawyer? Should I list my house with a realtor or sell it on my own? What issues can come up during a home inspection? There are many questions that you should get answered before you are ready to sell your home.

If you are an investor wanting to buy or sell land, an apartment, or business the process will get even more complicated. What professionals do you need to help you through the process?

No matter what your situation is if you are engaged in a real estate transaction you need to make sure you understand the process and the players in the deal.

 

When You Should Back Out of a Real Estate Deal

Posted by Robert Linker
Back-Out-Real-Estate

Rea estate contracts have clauses that allow both buyers and sellers to back out for good reasons.

Cancelling after the offer is accepted but while the attorneys are still reviewing is acceptable. Other reasons to back out are home inspection issues and the property not appraising for the sale price.

When Buyers & Sellers Back Out

 
 
 
 

Ways to Lower Closing Costs (Mortgage Fees)

Posted by Robert Linker
Lower-Closing-Costs

The best way to lower your closing costs is to learn exactly what they are. Then, you can go to each vendor and negotiate. Also, don’t be afraid to negotiate with the lawyer and mortgage company.

If you can’t afford your closing costs you may even be able to ask the seller to pay your closing cots. There are disadvantages to this strategy, though.

Ways to Lower Closing Costs

 

Using Your Credit & Spouse’s Income to Buy a House

Posted by Kevin Haney
Buyer-Credit-Income

Buyers often get confused with the relationship between income and credit when buying a house. Banks will look at the total income and the lower credit score when approving a mortgage.

If one spouse has a very low credit score you will get a lower interest rate if you don’t include him/her on the loan. However, you also won’t be able to use his/her income, so you won’t be able to afford a more expensive house.

Spouses Credit & Income Buying House