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- Appraisal and Market Value - FAQ
What is the difference between market value and appraised value?
How do you find out the value of a troubled property?
What are the standard ways of finding out what a house is valued at?
What's a house worth?
What standards do appraisers use to estimate value?
- Condominiums and Townhomes - FAQ
How do you choose between condos and single-family homes?
Are condominiums risky to buy?
Do condos have to be made accessible to the disabled?
Are condos a good investment?
Where do I get information on condo association laws?
- Escrow and Closing Costs - FAQ
How can I save on closing costs?
Where do I get information about closing costs?
What are closing costs?
Who pays the closing costs?
Why do I need a title report?
- Finding the Right Home - FAQ
How do you choose between buying and renting?
What are the pros and cons of adding on or buying new?
What are the pros and cons of adding on or buying new?
What do all of those real estate acronyms in the ads mean?
Do we dig deep and buy a dream home or settle for a starter home?
- Fixer-Uppers - FAQ
Where are fixer-uppers found? Are there programs for fixer-uppers? What kind of return is there on remodeling jobs? Are there gov't programs for rehab? What are some resources for info on home improvements? Are there any special tax breaks for historic rehab? What are some guidelines to follow when trying to find a contractor?
- Foreclosures - FAQ
Are foreclosures an option? What are problems with buying foreclosures? What types of foreclosure are there? What happens at a trustee sale? How do you find government-repossessed homes? Can I get a HUD home for as little as $100 down?
- Home Inspections and Warranties - FAQ
How do I find a home inspector? What's a home inspection? Do I need a home inspection? How do I find a home inspector?
- Insurance - FAQ
What kind of home insurance should I get?
A standard homeowners policy protects against fire, lightning, wind, storms, hail, explosions, riots, aircraft wrecks, vehicle crashes, smoke, vandalism, theft, breaking glass, falling objects, weight of snow or sleet, collapsing buildings, freezing of plumbing fixtures, electrical damage...
- Interest Rates - FAQ
Tell me more about ARMs? Adjustable-rate mortgages "are tied to an index which is a measure of the lender's cost of borrowing money. As the index rises, so will the interest rate on the adjustable loan
- Lease Options - FAQ
What is a lease option? When a renter signs a lease with an option to purchase the property for a specific price within a certain time frame, that is called a lease option. In most lease-option situations, a portion of the rent is applied to a future down payment.
- Making an Offer - FAQ
Is a low offer a good idea? While your low offer in a normal market might be rejected immediately, in a buyer's market a motivated seller will either accept or make a counteroffer. Full-price offers or above are more likely to be accepted by the seller. But there are other considerations involved...
- New Homes and Vacation Homes - FAQ
Can you negotiate the price on new homes? It can be difficult to negotiate the sales price with a developer because they may claim their prices are based on fixed construction costs. But it doesn't hurt to try. Experts say builders more likely to...
- Negotiating and Closing a Good Deal - FAQ
What contingencies should be put in an offer? Most offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction...
- Property Taxes - FAQ
How do property taxes work? Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property's current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.
- Tax Considerations - FAQ
What is the Mortgage Credit Certificate program? The Mortgage Credit Certificate program allows first-time home buyers to take advantage of a special federal income tax credit. This program allows buyers credit in qualifying for the tax advantage they'll receive after they purchase the home.
- Tenants-In-Common and Co-ops - FAQ
Can a co-owner force someone off a shared deed? In some states, a co-owner often can force the sale of a shared property by filing a so-called partition action. In such a situation, if the severance is granted, the property would be sold and the owners would split the proceeds proportionate to their interest in the property.
- What You Can Afford - FAQ
How do you find out the value of a troubled property? Buyers considering a foreclosure property should obtain as much information as possible from the lender about the range of bids being sought.
- Whom to Contact - How to Buy - FAQ
What standards do appraisers use to estimate value? Appraisers use several factors when estimating value including historical records, property performance, condition of the home and indices that forecast future value.
- Whom to Contact - FAQ
Where can I get a list of home builders? For a list of home builders, contact the National Association of Home Builders at...
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