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First Time Real Estate Purchase
Nothing can be more exciting & terrifying at the same time than buying your 1st home. Everyone talks about all the advantages of buying real estate such as the tax benefits, appreciation etc. But there are some risks involved and the more knowledge...
Home Inspection Checklist
Although architectural details, wall and floor coverings, modern conveniences and many other factors are important in the buying decision, the focus of this inspection is on the structural/mechanical/electrical condition of the property.
The...
Real Estate Investment Deals That Increase Your Net Worth
Consider these parameters for a real estate deal:
Property Value: $250,000
Purchase Price: $160,000
Repairs: $2,500
If you analyze the numbers, you see that the equity available in this deal is $87,500 (Property Value minus Purchase...
San Diego Housing Market The Hidden Time Bombs
Nothing down, variable interest rate, EZ qualification, stated income.
These are the common lending terms that many believe have kept our super-heated market going. As the stories of fast home appreciation proliferate, the desire to get into our...
The Real Estate Gurus B.S.!
We have all seen them making fantastic promises that you will be financially free in 90 days. The sales pitch is so intoxicating that you would probably get a DUI if you were driving your vehicle. Less then fifthteen minutes into the infomercial...
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Real Estate Terms From Home Inspections To Personal Property
When buying or selling a property, it always helps to have a basic understanding of real estate terms. In this on going series of articles, we take a look at definitions starting with home inspection.
1) Home Inspection an inspection of the condition of a home. They are done item by item, from roof to foundation, and include looking closely at things like plumbing, heating, air conditioning, sinks, tubs, and faucets, and any appliances which convey. The general concept is that the home inspector is trained to spot problems that typical Susie and Sammy Homebuyer are likely to miss. They are not usually intended to bring up discussion about items Susie and Sammy can easily see for themselves like the color of the wall paint or what the carpets look like.
2) Home Warranty Policy an insurance policy which pays for repairs to the working systems (heat, air conditioning, plumbing, etc.) and appliance repairs during the first year of home ownership. Details vary. Usually there is a deductible amount. They can be bought by the buyer or by the seller for the buyer.
3) Limited Power of Attorney a writing which gives another person the legal ability to act for and sign papers for the buyer or seller in
connection with the purchase and sale of a specific real property. (An example of this happened last summer when a friend of my sons gave his wife a limited power of attorney to enable her to finalize the sale of their home after he left for Iraq with members of his National Guard unit. A happy postscript is that the young man has now returned home.)
4) Personal Property appliances which are not built-in, play equipment which is not attached, furniture, plants in containers.
As you can image, there are many real estate terms for which you have a general understanding. In our next article, we continue with the terms starting with Pre-Approval Lender Letters.
About the Author: Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
Source: www.isnare.com
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