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You searched for homes over the course of months or even years. You endured a series of offers and counter offers, property disclosures, inspections and reports. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end. But the story isn’t over yet. Here are some next steps to consider before you actually move in. Plan any work well in advance: Rarely does a buyer get a place that is truly in “move-in” condition. By the time you’ve signed a contract, you have lots of ideas about how you’ll live in…

How concerned should investors and homebuyers be that we’re headed for another real estate crash as we approach the 10-year anniversary of the infamous 2006-2007 housing bubble? Not at all. Although buyers are paying spectacular prices for commercial properties and trophy homes, just as they did then, this time price increases are being fueled by foreign investors seeking diversification and a haven for their funds, as well as investors on the hunt for a low interest-rate environment. Real estate is still a favorite life raft for nervous investors, who are seeking safety amid market volatility. This has led to record real estate…

You searched for homes over the course of months or even years. You endured a series of offers and counter offers, property disclosures, inspections, loan applications, due diligence, and packing. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end. But the story isn’t over yet. Here are some next steps to consider before you actually move in. Make Copies of your Closing Documents. The first stop you make after closing should be your local copy shop. While all the documents are still together and in order, make at least one…

In addition to a down payment, you will also have to have sufficient cash on hand to pay for closing costs. The person purchasing the home pays usually closing costs, but with some mortgages (VA for example) the seller can pay closing costs. A little-known fact is that a big part of costs and fees actually go to third parties who process the mortgage, as well as local governments as taxes. The average closing costs percentage is usually about 2-5% of the purchase price. But all cash buyers may end of paying less and high risk buyers getting a loan…

So, you’re moving to a new home. Congratulations! Whether you’re traveling across town or across the country, here are some tips for making moving day as easy and stress-free as possible for the entire family, including your beloved pets.   Prior to moving day, make sure your pets are fitted with collars and ID tags with your name and current cell-phone number. Micro-chipping is also recommended and will serve as a backup if your pet loses its collar. If your pet is prone to car or airsickness, make sure you visit your veterinarian a few weeks prior to your move to get…

On November 13, 2013, the Consumer Financial Protection Bureau issued a rule regarding changes to current early disclosure and closing documentation used on mortgage loan transactions. Anyone in the real estate or mortgage industry should understand that new regulations called TRID (TILA/RESPA Integrated Disclosures) and how they will have an impact on the timing and notifications required throughout the closing process. But what does TRID mean for you as a homebuyer? If you have previously bought or sold a home, you’ll see two main changes: forms and closing deadlines. Forms. The Truth-in-Lending Statement and Good Faith Estimate will be replaced by…

This year is already shaping up to be the year of the boomerang buyer, or the repeat homebuyer.  As it is now seven years since the housing crash, there are many buyers who experienced a financial hardship in the recent past who are getting back into the market to purchase a home again in 2015. There were several changes recently to the waiting periods when a buyer or homeowner can obtain a new mortgage and repurchase a home again after a foreclosure, short sale or bankruptcy.  Borrowers today essentially have three options when it comes to obtaining financing to purchase…

For most people, buying a home is the largest and most significant purchase they’ll ever make. Hiring a real estate attorney early in the process will protect you against the unexpected, and ensure a smooth and low-stress closing. Every state and sometimes regions within states have differing requirements. Some states leave that as an option open to the buyer and seller while others mandate it as a necessity. Your local real estate agent should be able to advise you what the protocol is in the area in which you are buying. A real estate lawyer will protect your rights and interests in…

  If you are in your 20s and 30s and have ever even considered buying a home, you are positioned to take advantage of record low interest rates. Even if you have just graduated with student loan debt, have not saved the traditional 20% down payment, and worry that there are no homes available to purchase for people in your situation, you may be wrong. Today mortgage brokers, bankers and direct lenders are lending more than ever. Loan options such as those from the FHA (Federal Housing Authority) enable qualifying first-time buyers to purchase with as little as 5 percent down….