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Flipped House Questions If you’ve ever watched HGTV, chances are you know what it means when someone says a home has been flipped. For those that don’t, a flipped house is one bought at a discount either because of the property’s condition or the seller’s need to move quickly. The investor then makes any necessary repairs or renovations and puts it back on the market for a higher price than they bought it for, reflecting the work they put into the house. If you are thinking about purchasing a flipped house, here are some questions you should ask before purchasing....
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Low Appraisal An appraisal is an estimation of a home’s value. But what happens when an appraisal comes in under the home’s selling price? Here’s how to deal with a low appraisal. Why do low appraisals happen? The first thing you must ask yourself is why the home appraised for less than the home’s sale price. There are a number of reasons why this may occur. Some of the most common are: Declining market values due to fewer buyers and a larger inventory of homes Incorrect evaluation by the underwriter Overpricing by the seller Fallout from a lot of foreclosures...
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Home Inspection Mistakes A home inspection is an essential step in the home buying process that shouldn’t be overlooked or rushed. Here are some common mistakes buyers might make during the home inspection process. Not getting an inspection Most people know to get an inspection when buying a home from another person. However, many buyers tend to skip an inspection when they are buying a new construction. No home is completely devoid of issues, even new constructions. You should also consider extra inspections needed for your property, should it include things that are not included in a normal inspection. This...
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Meet Your Neighbors Moving into a new neighborhood can be difficult. In addition to moving in all your stuff, getting to know your neighbors might be one of the most important steps of moving. If you don't know how to make the first step, here are six ways to get you started on meeting your new neighbors. Knock on the door Knocking on the door is one of the simplest ways to meet your new neighbor. However, timing is important. Try not to go during dinnertime or when kids normally get put to bed. Instead, try to catch them when...
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Selling a Home: The Cost Many people save for and anticipate the costs associated with buying a house. However, not everyone thinks about the costs associated with selling a home. Here are the common costs associated with selling a home. Real estate agent commission Most agents don’t receive a salary, so this fee pays for the time and resources the agent put into selling your home. A commission typically costs between 5-6% of the total sale cost. The agent commission is split between the buyer’s agent’s brokerage and the seller’s agent. The cost may be split evenly between the two...
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Selling a Home on a Busy Road Selling a home on a busy street can be difficult. Whether it’s for safety concerns or because of noise, buyers can be turned off by a home in a bustling location. Here’s how to sell a home on a busy road. Make the inside quieter Little things can help to cancel out some or all of the noise made by outside traffic. Consider playing soft music or having a fan blowing during a home showing. This works especially well in rooms with windows. In addition, a set of heavy drapes can help to...
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Selling Your Home in the Winter It’s no secret that homes sell better in the spring and summer. However, this doesn’t mean that you can’t sell your home in the winter months! Here are some tips and tricks to sell your home in the winter. Combat the cold One thing to pay attention to when showing a home during the winter is the temperature of your home. Make sure the thermostat is set at a comfortable temperature. If needed, add insulation or caulking to eliminate any drafts. If it snows, make sure to shovel all outdoor paths and put down...
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Cost to Build a Home Building a new home is the perfect opportunity to get exactly what you want in a home. However, it can be costly. Here is a breakdown of typical costs associated with building your own home. Custom homes: $350,000 - $1.5 Million+ A custom construction allows you to build a home to meets your exact needs. However, they are costly, both in terms of money and time. To construct a custom home, you will need to hire a residential architect. Hiring such a professional can cost anywhere from five to fifteen percent of your construction costs....
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How to Move in Bad Weather Moving is difficult, and can be even more so when your moving day falls on a day with bad weather. If this happens, here’s how to protect your stuff during the move. Rain Moving while it’s raining presents some challenges. The most important thing is to keep your belongings dry. Make sure that the moving truck is parked as close to your house as possible. Before loading the truck, make sure that there are no leaks in the moving truck and that the rain won’t come into the truck as it’s being loaded. Cover...
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Eviction Eviction is a landlord’s legal removal of a tenant from a rental property. There are many different reasons why a landlord may evict a tenant. They include rent not being paid and breach of the rental agreement. Notice of termination for cause There are three types of termination notices that you may receive if you breach your rental agreement. These include: Pay rent or quit notices Pay rent or quit notices are typically given to a tenant when they have not paid the rent. These notices give the person in question a few, typically three to five, days to...
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