Money talks if you are a serious buyer. This is why the pre-approval process is highly recommended in the very first stages of your home search. Knowing how much you can afford makes your home process more efficient and gives you a higher negotiating power once you make your first offer. To get a pre-approval letter, you will need several documents. These include proof of income, a credit report, and employment verification.

1.     Proof of Income: You must provide W-2 wage statements from the past two years, and recent pay stubs to show income and the number of your earnings for the current year. If you have any additional income like alimony or bonuses, you will need to provide your lender with these statements. Also, you need to provide tax returns from the past two years.

2.     Proof of Assets: There are several hidden costs of buying a home. If you are using a down payment, paying for closing costs, or requiring Private Mortgage Insur! ...

While renovation shows have gained popularity, think twice before you decide to do any major structural changes or invest in high-end upgrades. There are several ways to improve your return on investment. Surprisingly, it is often the simple updates that pay off when you list your home, while larger and more expensive projects run the risk of you not recouping your expenses.  

Upgrades that Add More Space: It is important to check local zoning laws and building codes when you are adding extra space. Another factor to consider is your neighborhood and the average home size in your area. This can throw off market value and hurt the resale value if you add too much square footage.

Finishing the basement: This improvement adds more square footage that is climate controlled and can move your house into the next price bracket, and you can recoup up to 70% of the total cost. The cost varies widely depending on your home’s existing square footage.  Popular options are add? ...

According to a recent survey from the AARP, it is no surprise that about 90% of Americans over age 65 want to remain at home for as long as possible. Older Americans prefer to age in place due to factors like maintaining independence, safer environments, and saving costs of assisted or skilled nursing facilities.  Physical and cognitive decline can make daily living activities difficult. However, help from their support network and making interior alterations can make aging in place possible.  The emotional toll of leaving home puts seniors at higher risk of depression and physical ailments. The cost of assisted living and skilled nursing facilities can cost nearly $20,000 a year.  This is often a common reason for aging in place home improvements. However, there are a few things to consider before you choose if aging in place is a reasonable option.

·      Your social support network is minimal. You have few friends, family members, . ...

1.     Rentals:
What it is:  A common scam I’ve seen is scammers taking an active listing with the MLS and posting it for rent. They often ask for money upfront as a security deposit and disappear once you send them the payment. Facebook and Craigslist are common sites used by these scammers.

How to protect yourself: If you are looking for rentals, one way to protect yourself is to ask for further pictures and request a showing in person.
How to report: Contact the FBI Internet Crime Complaint Center 

2.     Wire transfers:  Wire fraud is becoming increasingly common and is one of the top five types of fraud tracked by the FBI. Cybercriminals identify a pending home sale and then gather information on the transaction parties. After they are able to hack into a party’s email, they send false wiring instructions that divert deposits, mortgage payoffs, closing costs, and mortgage payoff funds from the rightful reci; ...

      There is no such thing as a mandatory fix after a home inspection, and most repairs are negotiable. Cosmetic issues usually don’t need to be fixed. However, most buyers will request fixes on common inspection flags. The most common inspection issues are structural issues in the attic and crawlspace, roof issues, plumbing issues, water damage, electrical issues (particularly in older homes), HVAC issues, & termites.

FHA and VA inspections:

FHA inspections do not require repairing cosmetic or minor defects. However, common flags to FHA inspectors are similar to other inspection issues listed above. They include missing handrails, cracked exterior doors or window glass, peeling paint in homes due to lead hazards, minor plumbing leaks, flooring in poor condition, termite evidence, damaged drywall, trip hazards, driveway issues, and ventilation issues in crawl spaces and attics.

 

·      Electrical boxes with an. ...