While shopping for a home, you may come across a property owned by someone that lives overseas. If you purchase a home from a non-US resident, and they don’t pay the income taxes or capital gains on the property, you could end up responsible for the amount. But don’t panic! This is where the 8288 …
An Easy Guide to 8288 Tax Forms And Why They Matter Read More »
A traditional mortgage isn’t always an option for everyone. If you need time to build up your credit score, have more time to save for a down payment, or you know exactly where you want to live, a rent-to-own home may be an option for you. But what are they and how do they work? …
Rent-To-Own Homes: What They Are And How They Work Read More »
You’re purchasing a home and are in the midst of negotiations when all of a sudden a real estate purchasing agreement is handed to you. Don’t panic, a real estate purchasing agreement is a standard document that you and the seller must sign before going through with the sale of the home. This post will …
A probate sale in real estate occurs when a homeowner has died without a will and the property is being sold in order to liquidate the asset. A probate sale can also involve a homeowner dying that owes significant debts. Any properties that the person owned are sold to pay off their creditors if the …
The difference between real estate taxes vs. property taxes is that real estate taxes are what the city or municipality you live in charges you for your property and based on the fair market value of your home, while property taxes are related to any moveable items you own. Examples of this include furniture, cars, …
Real Estate vs. Property Tax – What’s the Difference? Read More »
Congrats on making the decision to buy your first home! And now that you’re ready, it’s time to look at the first steps to buying a house. To help you through the process, below you’ll find a helpful workflow complete with tips to prepare yourself in order to speed the process along for an easier …
The First Steps to Buying a House and How to Prepare Yourself Read More »
The FHA 90 day flip rule is a policy that requires you as a property buyer to wait at least 90 days from the last approved deed before you can get an FHA loan. The policy is reviewed by an FHA approved appraiser and only applies to FHA loans. So if you are not using …
Mortgage insurance is an insurance policy that covers lenders if you cannot pay back the principal cost of your mortgage. The cost of your mortgage insurance policy will vary depending on the type of mortgage insurance you buy, your credit score, the down deposit, if you want adjustable or fixed interest rate, and if you …
A warranty deed is when a person selling a plot of land, a house, or a property, can guarantee they own the rights and title of the land and that this person is legally allowed to sell the property to you. Warranty deeds are not the same as quitclaims as a quitclaim is when the …
Yes buying a house will impact your credit score negatively at first, but if you make payments on time regularly then buying a house will have a positive impact on your credit score. At first, when you apply for a loan, your lender will issue a hard inquiry which will negatively impact your credit score. …
