January 2007 - Tips & Tools - RealEstate.com's Town Square

Real estate commissions: What you need to know

Confused about real estate commissions? You're not alone. Here are some answers to a few of your most common questions. There’s no question a good real estate agent can be a valuable resource when it comes to buying or selling a home. But how...

Published Wed, Jan 17 2007 1:58 PM by RE.com Tips & Tools

Filed under: commission, negotiating

Correcting Your Credit Report

Having a correct credit report is important because lenders use it as a basis to determine how much you can borrow Under the federal Fair Credit Reporting Act, both the consumer reporting agency (CRA) and the organization, such as a bank or credit card...

Published Thu, Jan 11 2007 2:30 PM by RE.com Tips & Tools

Filed under: credit, Fair Credit Reporting Act, credit report, CRA, credit check

Improving Your Credit Score

To improve your credit score under most models, concentrate on paying your bills on time, paying down outstanding balances, and not taking on new debt Credit scoring models are complex and often vary among creditors and for different types of credit....

Published Thu, Jan 11 2007 2:31 PM by RE.com Tips & Tools

Filed under: credit, good credit

Step 6: Making an Offer

Once you've found the right home, the next step is to make an offer to the seller. This can be a nerve wracking step in the home buying process, especially since you stand to spend a great deal of money and there is a chance that the seller will reject...

Published Sat, Jan 20 2007 2:43 PM by RE.com Tips & Tools

Filed under: offer, asking price, making an offer

Inspections and Certificates

When your inspection and certifications are complete, you will be armed with important information for a smooth closing. Whole-house inspections Inspections are designed to disclose defects in the property that could materially affect its safety, livability...

Published Thu, Jan 11 2007 1:41 PM by RE.com Tips & Tools

Filed under: inspection, home inspection

Your Credit and the Fair Credit Reporting Act

Your credit record contains information about your income, debts, and credit payment history Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by consumer reporting agencies (CRAs). One type of...

Published Thu, Jan 11 2007 2:19 PM by RE.com Tips & Tools

Filed under: credit, Fair Credit Reporting Act, FCRA, credit report, credit score, credit check

Adjustable Rate Mortgages (ARMs)

An ARM is a mortgage in which the interest rate is adjusted periodically based on an index. With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an Adjustable Rate Mortgage (ARM), the interest rate changes periodically...

Published Thu, Jan 25 2007 3:09 PM by RE.com Tips & Tools

Filed under: ARM, adjustable rate mortgage

Negotiating the Best Price

It takes a keen understanding of the home-buying process to be good at negotiating. Be sure you have it down before you make any offers on homes Be sure you have the process down before you make any offers on homes . Here are tools and information the...

Published Thu, Jan 11 2007 4:57 PM by RE.com Tips & Tools

Filed under: buying, CMA, home buying, buying a home, comparative market analysis, price, home price, negotiating, buying a house

Step 9: Home Inspection and Appraisal

Before you finalize the sale of a home, you should hire a third party to do an inspection of the property. Inspections are meant to uncover any problems with the home that could affect its livability, safety or value. It’s usually a good idea to...

Published Wed, Jan 17 2007 2:47 PM by RE.com Tips & Tools

Filed under: appraisal, home inspection

Step 10: Closing

In order to complete your home sale, you will need to go through a closing procedure. This is when all parties involved sign the required papers and the ownership of the property is transferred from the seller to the buyer. Usually within the 24 hours...

Published Tue, Jan 16 2007 2:50 PM by RE.com Tips & Tools

Filed under: closing, closing costs

The laundry room: What to consider when buying a home

Use our tips to make sure the washer and dryer in the house you’re thinking of buying are in good repair. You’re in negotiations to buy an older home and the seller offers to throw in the washer and dryer to persuade you to notch up your offer...

Published Fri, Jan 12 2007 11:36 AM by RE.com Tips & Tools

Filed under: laundry room, dryer

Five Rules for Smart Home Buying

1. Arrange financing before you make an offer. Increase your chances of buying the home you want by getting pre-approved for a mortgage and waiving financing as a condition on your offer to purchase. In a competitive market, sellers have been known to...

Published Thu, Jan 11 2007 12:07 PM by RE.com Tips & Tools

Filed under: budget, down payment, home inspector, financing

Home Improvement: Adding value to your house before you sell

Consider simple home improvement ideas if you are planning to sell your house. A little home improvement before listing your house can help you make more money. By updating your home, you can increase its resale potential and add to its value. •...

Published Tue, Jan 16 2007 10:02 AM by RE.com Tips & Tools

Filed under: adding value, home improvement

Home staging -- easy ideas to do it yourself

Follow these easy ideas to make your home look like you had a professional home stager. Home staging involves preparing a home for sale through cleaning, de-cluttering, updating the décor, and making repairs. You can hire a professional home stager...

Published Tue, Jan 16 2007 10:03 AM by RE.com Tips & Tools

Filed under: staging, home staging, clutter

Checklist: Contract Terms and Clauses

We all know far to well that the idea of combing through a contract may be unappealing, there are numerous key points all of us should be familiar with and understand. When a purchase contract is set before us, many of us may find our eyes glazing over...

Published Thu, Jan 11 2007 4:33 PM by RE.com Tips & Tools

Filed under: inspection, commission, down payment, home warranty, closing, contract, terms

January 2007 - Tips & Tools

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