Blog

How much money will go into your pocket after your home is sold?

by Mark Roberson

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  It’s not what you make, it’s what you keep that matters. This holds especially true when it comes to the sale of your home.   The sales price you see at the top of the closing paperwork is rarely, if ever, the amount of money that ends up in your pocket as the seller.   There are often a variety of costs and fees associated with getting a home sold, so it’s important that you understand exactly what you’re going to walk away with before you...

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How much should you offer on the home you fell in love with?

by Mark Roberson

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    You’ve spent the last few months looking for a home and now, the only thing that stands between you and having the right to negotiate full ownership of the home of you fell in love with is preparing an offer that will be acceptable to the seller.   The purchase and sales agreement iis the first formal communication that leads to the final deal and eventually a closing when it’s time for you to take ownership of the property.   The total agreement...

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How much you should put down to purchase your new home?

by Mark Roberson

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      Historically, home buyers seek to put down 20% when they purchase a home.  However, according to a recent survey by The National Association of Realtors (NAR), the actual national average is much closer to 10%. When it comes to first-time homebuyers, the average down payment is at 4% as per the same survey. While down payment requirements vary based on the lender you choose to work with, the amount required will usually depend on your credit score and your...

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How to beat other buyers to hot, new listings (Before they even know about them)

by Mark Roberson

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    Buyers want three things when they’re making a purchase:   Selection: Have the largest number of options from which to choose Price: Get a smoking hot deal on what I want to buy Ease of doing business: Don’t make it hard for me to buy it   It doesn’t matter if you’re buying shoes, a toaster or a house, all three of them matter and they usually matter in that order.   And when it comes to buying a home,...

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How to Find Bank Foreclosures and Distressed Sales

by Mark Roberson

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      Everyone wants a hot deal.   For those who have the ability/desire to work with a home that is, in most cases, less than perfect, foreclosures and distressed sales represent some of the hottest deals out there   If you want to locate distressed properties, the first thing you have to understand is that no one will usually advertise their home as a “distressed property” unless they are absolutely desperate to unload their home.   Homeowners,...

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How to get qualified to purchase a home for no money down

by Mark Roberson

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      Even with all the insanity that happened during the mortgage meltdown and all the changes that resulted in how money would now be lent to buyers, there are still some amazingly affordable loan programs out there.   Included among them, believe it or not, are no-money-down options for buying a home.   Here are some of the best programs that are out there today and how you need to get qualified to purchase a home using them to buy a home for no money...

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How to get the home with the furniture included

by Mark Roberson

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    So you like the dining room table in the house you want to buy, but your agent tells you it’s not included with the sale.   What do you do?   In short, you ask for it. Well, you negotiate it as part of your offer to purchase the home from the seller.    To effectively get the home you want with the furniture included, you should identify in advance any furniture that you are interested in buying and let the seller (or your agent) know...

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How to handle a multiple offer situation

by Mark Roberson

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    Over the last five years, properly priced homes have been fetching multiple offers on a consistent basis.    It is, without a doubt, a seller’s market.   But as exciting as having a bidding war on your property is, it can also provide for some confusion and even anxiety in figuring out what to do with all those offers.   Your natural instinct might be to choose the one that lets walk away with the most amount of money, but there are many...

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What is the Interest write off deduction?

by Michael Thrower

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        Tax deductible interest is a borrowing expense that a taxpayer can claim on a federal or state tax return to reduce taxable income.    Mortgage interest for both first and second (home equity) mortgages, mortgage interest for investment properties are among the list of deductions you can take on your taxes.   This is another reason why owning a home is more favorable than renting. In addition to building equity in a home that you...

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What is your debt to income ratio...why should you care?

by Michael Thrower

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      Any time you have more income and less debt, you’re in good shape in life. That said, there is an ideal ratio between your debt and income in order to qualify for a good mortgage.   When your debt to income ratio is on the high side, you run the risk of not getting a good loan (or not getting a loan at all) if your income were to take a hit during right before or during the loan funding process.   Conversely, having no debt can work against...

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