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October 2012

Found 3 blog entries for October 2012.

For many families, their largest investment is their home. But home buying is extra complicated for military families, who tend to move frequently and sometimes with little notice. At the same time, service members have access to special mortgage programs and tax breaks to help them afford a home. Be sure you make the most of these special benefits and protect your investment.

Should you buy or rent? Members of the military receive a tax-free housing allowance to cover all or part of their monthly rent or mortgage payment. And if you own a home, you can deduct 100% of your mortgage interest, even if you're paying it with tax-free money. Nonetheless, it can still be tough to decide whether to rent or buy a house when you may only be stationed in an area

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A thorough home inspection is a critical step in the home-buying process, which is one reason that it's typically thought of as something the buyer has to do. There are, however, a few things that a seller can do to make the process smoother and ensure that a property gets flying colors during the inspection.
  What can sellers do to get ready for an inspection?

 

The first thing is make sure they aren't around during the inspector's visit, says Kenny Rhodes, a licensed home inspector with nearly 20 years experience. "It's really important that the seller not be here when we're being critical of his home," Rhodes says. If a homeowner does hang around, the potential buyer may not feel comfortable asking questions or discussing a property's

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We wanted to take some time to go over the short sale process with you. A short sale is a home that is in pre-foreclosure. The seller requires bank approval in order to sell the home. This can make the negotiation process longer and adds a certain amount of risk to you, the buyer. In a typical real estate transaction you would make an offer, and the seller would either accept or reject the offer. You would go through the negotiation process until an agreement was reached. You would put money in escrow ($500) which would be held by the Real Estate Group. With a short sale even if you and the seller negotiates a price that you both agree to, you also need the banks approval. Sometimes the bank requires that they hold your escrow payment. Let's say the bank…
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