If you own a home yourself, you already know about homeowners insurance and how it’s mandatory for those who purchase residential units. What you may not know already is there are different types of homeowners insurance. Dwelling coverage, for instance, can provide owners with money to repair or rebuild their homes should substantial damages occur. Add-on policies can also […]
Insurance covers homeowners when unforeseen issues arise with their homes: the garage door collapses, a tree hits the siding, et cetera. A home warranty covers problems with appliances within one’s home. Broken pipes, malfunctioning heating, a washer and dryer in need of repair — these are arguably the most common items a home warranty covers for homeowners. […]
We’re going to take a wild guess and say you’ve already figured out what a home value is by this point — but for the sake of due diligence, let’s explore the concept some more. Ask 10 appraisers to assign a value to your client’s property, and they’ll likely come back with 10 different numbers. It’s a […]
A homeowner’s association (HOA) is usually found when you purchase a condominium, townhome, or other development property. To purchase the home, you must also join the HOA and pay monthly or yearly HOA fees. These fees can cover common area maintenance, repairs, and general upkeep. The more amenities your building offers, the higher the HOA fees typically […]
(1) A home inspection is carried out by an objective third party to establish the condition of a property during a real estate transaction. An inspector will report on such things as a home’s heating system, the stability of the foundation, and the condition of the roof. The inspection is meant to identify major issues that […]
A home equity line of credit (HELOC) provides a revolving credit line that can be helpful in paying for large expenses or consolidating higher-interest rate debt on loans — like credit cards.
The Home Equity Conversion Mortgage (HECM) is an FHA reverse mortgage program enabling homeowners to withdraw equity on their home through either a fixed monthly payment, a line of credit, or a combination of the two.
Offers a fixed rate the first 5 years and then adjusts annually for the next 25 years.
A document and statement that details all of the monies paid out and received at a real estate property closing.
(1) Additional assistance provided by a third-party relocation company that can include information about the destination community. (2) It’s never easy to pack up one’s life and move to an entirely new city (and possibly state) for one’s job. Since there are a million moving parts (no pun intended) to relocating to a new area […]