Are You Going To Buy A House? Someone just asked me: Tom Fazio, serious question for you -Do you take any special steps to ensure that any "smart" home appliances are smoothly transitioned to the new owners? I'm talking about thermostats, dimmers, etc. I replied: Did you just buy a house? At closing, sellers turn over house keys, Key fabs, Garage door openers etc. The listing agent should ...
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I wish my score would improve faster, I am paying off my collections.

A note about Collections: Paying off non-medical collections, although this keeps them from being added back into your debt ratio, can actually lower your score. Once a collection is paid off, it will counted as "new" for the last time and will finally start "permanently aging". Now credit score poi ...
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A blogger asks: Can you tell me about Renting to own?

In response to renting to own a home: Someone that will let you rent to own typically will only let you do so for a specific period of time. Renting to own can be a great option if you are positive you will be able to fulfill the terms of the agreement and be able to get a mortgage and close on that ...
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Seven Things Your Agent Should Know About Your Mortgage Approval

While many experienced real estate agents have a general understanding of the mortgage approval process, there are a few important details that frequently get overlooked which may cause a purchase to be delayed or denied. New regulation, updated disclosures, appraisal guidelines, mortgage rate pric ...
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Do I Need To Sell My Home Before I Can Qualify For A New Mortgage On Another Property?

Although every situation is unique, it is not uncommon for homebuyers to qualify for a mortgage on a new home while still living in their primary residence. Perhaps you are outgrowing your current house, or have been forced to relocate due to a job ...
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What Do Appraisers Look For When Determining A Property's Value?

Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection. However, th ...
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Where Does My Earnest Money Go?

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check... Where does that money go? A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted. According to Wikipedia: Earnest Money - an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good- ...
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Renting vs Buying A Home

Buying a home versus renting is a big decision that takes careful consideration. While there are several biased sources that can make arguments for or against owning a home, we've found that most home buyers base their ultimate decision on emotion. Yes, there are some tax advantages of owning real estate, as well as the potential to earn equity ...
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