What Exactly Are Buyer and Seller’s Rights During House Closing?

Knowing your rights ensures a smooth home sale or purchase process.

Things can get tricky between making an offer and closing a deal.

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Getting swept up in the frenzy of buying or selling a home is easy. After the honeymoon phase comes that awkward stage between agreeing on a tentative deal and reaching the closing table. You might encounter many unforeseen situations in this window, and both parties have specific buyer’s and seller’s rights designed to prevent a major decision from becoming a major regret. These protections will ensure you don’t lose money or endure an unnecessary battle in the process.

Seller: “I accepted an offer, but now I’m…

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Suburbs: Where Americans are Migrating

Politics and affordability are causing Americans to relocate.

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In the first half of 2017, 7.4 percent more people moved out of blue (Democratic) counties than to them, while red (Republican) counties experienced a 1 percent increase. Purple counties, which are classified as counties that share an equal balance of Democrats and Republicans, gained 2.3 percent more than they lost, and swing counties in swing states experienced 1.8 percent more Americans moving in than out.

“As blue counties are becoming increasingly less affordable, we see a great number of residents moving to red counties where they can afford the lifestyle they want,” said Chief Economist Nela Richardson.

According to the data, the shift is…

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Home construction spending rises: Could it impact home prices?

Home construction on the rise, but is it enough?

Slow housing starts have played a big role in creating today's inventory-strapped real estate market. But according to new data from the National Association of Home Builders (NAHB), hope for more home construction—and subsequently lower prices—just may be in our sights.

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Builders pick up the pace

According to NAHB analysis of the latest U.S. Census Bureau Construction Spending report, private residential spending jumped 0.5 percent in August. This marks its fourth monthly increase in a row. Over the year, private residential construction rose nearly 12 percent.

FHA 203(bk) home construction and rehab loan: pros and cons

Private residential construction totaled…

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No… You Do Not Need 20% Down To Buy NOW!

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.

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This brings us to two major misconceptions that we want to address today.

1. Down Payment

NAR’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 39% of non-homeowners say they believe they need more than 20% for a down payment on a home purchase. In actuality, there are many…

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You Don’t Want To Hear This From Your Listing Agent

You’ve decided to sell your house in Davenport FL. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:

• Set the market value on possibly the largest asset your family owns (your home)
• Set the time schedule for the successful liquidation of that asset
• Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost with you and your family to garner that degree of trust. Make sure this is the case.

Be careful if the agent you are interviewing begins the interview by:

• Bragging about their success
• Bragging about their company’s success

An agent’s success and the success of their company can be important…

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The Truth About Homeowner Equity

A recent article from a reputable news source was titled: Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.

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A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)

If eight out of ten homeowners now have significant…

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Statistics That Sum Up the American Housing Market

Today’s housing market is fast-paced and often pricier than it’s been in decades. Both renters and buyers are facing challenges in finding a place to call home.

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Both sellers and homeowners also face their own set of challenges — tied to the line they walk between seeing their home as a personal extension of themselves as well as one of their biggest financial investments. The Zillow Group Consumer Housing Trends Report 2017 is a deep dive into understanding all these challenges as well as the deep desires people have around home.

Zillow surveyed over 13,000 people to determine how Americans rent, buy, sell and even think about real estate as part of the report research. Some of our discoveries could be…

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The People You Need When Buying a Fixer-Upper

No one ever said buying a fixer-upper is easy. But with the right experts on your team, you’ll tackle any problem with confidence.

Buying a move-in ready house sounds like an ideal situation for buyers, although the reality is many of these homes come with a steep price tag.

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Sometimes investing in a fixer-upper is your best shot at getting your dream house and neighborhood. If you’re able to look past the flaws and envision the home’s potential, you’ve passed the first challenge. But vision can only get you so far. If you’re looking to make significant renovations, it’s always helpful to have back up from the professionals.

I’m currently in the middle of a major gut-remodel of a…

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5 Secret Sources of Down Payment Money

5 Secret Sources of Down Payment Money

The down payment: It’s the biggest test of our ability to save money that most of us will ever face, and one that stands between us and our ability to become a homeowner.

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It can be tricky to stockpile enough money for a down payment, but it’s also an opportunity. The more money you put down, the more choice you’ll have about how much house you can afford and what you want the monthly payment to be. Plus, building up a cash cushion will definitely give you peace of mind once you’re in your new home.

Here’s How to Boost Your Down Payment Savings

1. Go local.

Gone are the times when nationwide programs allowed for the zero-down loan, the federal…

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Does Owning a Home Affect Financial Stability?

The Consumer Financial Protection Bureau (CFPB) released its report on the financial well-being in America, showing most Americans are generally satisfied with their household situation.

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According to the report, average adults who answered to be “very satisfied” in the place they live have a higher level of financial stability (10 points by the metrics of the data, at 60,) than those that report being “less than very satisfied,” which stood at 50 points.

The report, notes, however, that this could be a chicken or an egg situation, “It is possible that being satisfied with one’s residence influences financial well-being, but it is also possible that individuals with greater financial resources and higher financial…

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