Buying a home is a major investment with a decades-long commitment that affects every aspect of your life, from lifestyle, to employment, to weekend chores. In June, 495,000 homes were sold, according to the U.S. Census Bureau. Just as you would buy a warranty for a television or protective gear for that new camera, there are vital steps to protect your home financially and physically.
When purchasing a home, you might be wondering about what insurances you’ll need to obtain. There are four different types of insurance that you should know about while going through real estate transactions. Read on to see which types of insurance you should know about.
No matter how diligent a homeowner you are, things will sometimes happen that are outside of your control. The most important thing to do is to take steps to be prepared so the unexpected doesn’t disrupt your life too much. If you are prepared for the worst, no situation will break you. Here are three steps you should take to be prepared for a home-related tragedy.
If this is your first time shopping for home insurance, you probably don’t know what to ask your insurance agent. You want to make sure you ask the right questions in order to find the right type of policy for you. Here’s a list of questions you can ask while shopping for home insurance.
Looking for homeowners insurance for your new home? Or, trying to save money on your existing policies? Check out these tips to help you find the right homeowners insurance for you and save some money in the process.
Is it better to rent or buy? This article outlines the cost obligations and benefits of both prospective renters and buyers so an informed housing decision can be made.
As Irene makes her way north to areas less visited by severe storms, many people are scrambling to learn how well they’re protected by their homeowner’s insurance policy. Learn the basics of standard policies, and discover where you might need a little extra protection from unusual weather events.
Guest blogger Gina Roberts-Grey asks: Will insurance cover you if one of these five holiday mishaps occurs?
Once you’ve found a home that meets your needs, it’s time to make an offer. In deciding the amount of your offer you and your agent have to weigh several factors – asking price vs. comparable home sales, market conditions, other potential offers, how badly you want the home, the home’s condition, if you’re approved for a loan, etc. A good agent is invaluable in this step and can do wonders for keeping your inevitable making-an-offer jitters at bay. The Purchase Agreement You’ll sign a purchase agreement that your agent will supply and that indicates the amount of your offer and may also include details that stipulates, for instance, which appliances stay and when you’d like to take possession, etc. You’ll put down “earnest money,” a deposit to show that you’re willing and able to buy the home – earnest money is usually a small percentage of the asking price and later applied as part of your down payment. An earnest money deposit is a check you write to the seller and that your agent holds until the offer has been accepted. This is different from the deposit your mortgage banker will accept from you when you are ready to begin the mortgage process from us. The Counter Offer Your agent presents your offer to the seller’s agent who in turn presents it to the seller. Then, you wait. It may seem like a long time because the waiting can be excruciating, but most offers stipulate a response within 24…
A recent study shows that 53% of Americans have concerns about their mortgage payment. We provide some quick tips on how to manage and save money on your monthly mortgage payment.