1. A Home Inspection Is a Professional Check-Up A home inspection is a thorough examination of the property, done by a certified inspector. They assess everything from the roof, plumbing, HVAC, and electrical system, to the foundation and structure. Think of it like a physical exam — but for your future home. The goal? Spot […]
1. A Seller’s Market Means High Demand and Fast Action In a seller’s market, there are more buyers than available homes. This creates competition, drives up prices, and often leads to multiple offers and bidding wars. Homes sell quickly—sometimes above asking price—and buyers need to act fast and come prepared with pre-approval, strong offers, and
1. Work With Your Agent to Price It Right Before anything is signed, you’ll want to discuss your offer strategy with your real estate agent. They’ll look at market trends and recent nearby sales—also known as “comps”—to help you land on a price that’s competitive but fair. In a seller’s market, you may need to
1. Sellers Love the Certainty of Cash An all-cash offer means you’re not relying on a lender to fund your purchase, which gives sellers one huge advantage: peace of mind. There’s no risk of financing falling through, which can be especially appealing in a competitive market. Your offer could even beat out higher bids—just because it’s
1. A Rate Lock Freezes Your Interest Rate A mortgage rate lock is when your lender guarantees a specific interest rate for a set period, usually 30 to 60 days. This lock-in period protects you from market fluctuations while your loan is being processed. So even if rates jump tomorrow, you’re locked in at today’s
1. Proof of Income Shows You Can Afford the Loan Lenders want to be sure you can comfortably make your monthly payments. To do that, you’ll need to provide: Recent pay stubs (typically last 30 days) W-2 forms (for the last 2 years) Tax returns (especially if you’re self-employed or have side income) These documents help confirm your
1. A Buyer’s Agent Works for You, the Buyer A buyer’s agent is your advocate from start to finish. Their job is to: Help you find the right home that fits your needs and budget Advise you on pricing, comps, and market conditions Write offers and negotiate on your behalf Guide you through inspections, repairs, and closing Best
1. Flood Insurance Is Often Required—and Can Add to Your Monthly Costs If you’re using a mortgage to buy a home in a high-risk flood zone, your lender will likely require flood insurance. Here’s what to keep in mind: Premiums can range from a few hundred to several thousand dollars per year, depending on the property’s risk
1. A Deed Transfers Ownership From Seller to Buyer When you close on your home, the deed is what officially passes the property into your name. It’s signed by the seller and typically includes: Your name (as the new owner) A legal description of the property The name of the person or entity transferring it Without a properly executed
1. A Home Inspection Checks the Condition of the Property A home inspection is your opportunity to dig into the physical condition of the home—and spot any costly issues before you buy. A licensed inspector will review things like: The roof, foundation, plumbing, and electrical systems Heating/cooling systems and appliances Visible signs of damage, leaks, or safety concerns
1. A Property Lien Is a Legal Claim for Unpaid Debts Liens are usually placed on a home when the owner owes money they haven’t paid. Common reasons include: Unpaid property taxes Unpaid contractor or repair bills (mechanic’s liens) Delinquent HOA dues Court judgments or legal disputes The lien doesn’t mean you lose the home,