For many potential home buyers, an FHA mortgage can be a fundamental part of their buying strategy. FHA mortgages have been around for multiple generations and have helped many people realize the dream of owning a home.
You wouldn't defend yourself from a lawsuit without the assistance of an attorney, nor would you diagnose and treat yourself for an illness . . . you would consult a physician. Likewise, you should never make what may be the biggest financial decision of your life without the assistance of a professional REALTOR®.
Some communities and neighborhoods are ‘hotter’ than others, and homes in those areas sell faster and for more money. If you are looking to purchase a home that is in one of those areas, and the home itself is priced fairly, you may find yourself competing with other buyers to get your offer accepted by the sellers.
If you find yourself in a multiple-offer situation, making a stronger offer than other buyers will make all the difference. To make your offer as strong as possible, and ultimately acceptable to the seller, here are some things to consider.
Are you looking to purchase your first home?
Here are 9 steps to take to help you decide whether you're ready to make the move:
1. Check the selling prices of comparable homes in your desired area. Do a quick search of actual MLS listings in the area where you would like to live so you have an idea of what you can get for your money.
HOME BUYER FAQ: How much money will I need to buy a home?
Answer: It depends on several of factors, such as the price of the home, the type of mortgage you get, and what seller concessions are negotiated in your purchase agreement. In general, you will need to have enough money to cover the cost of (1) earnest money, (2) down payment, and (3) closing costs (the seller can pay all or most of your closing costs, depending on the loan).
January has been designated as National Radon Action Month by the U.S. Environmental Protection Agency (EPA). To support the efforts of the EPA, we wanted to take the opportunity to provide you with some useful information about radon gas in your home, how much is considered dangerous to your health, and what you should do about it.
The answer is that housing industry growth is minimal because too few homes are for sale, and rising prices of homes in many markets have made home ownership financially out of reach for many families.
When faced with a multiple offer situation, expect the unexpected. There are no hard and fast rules when it comes to multiple offers in a home sale, and we have seen sellers handle the situation in many different ways. Anything can happen.
Before you start looking for a home to buy, you need to consider the neighborhood. There's no point in falling in love with a home in an area that does not suit your lifestyle. If you realize after you move that the neighborhood's not for you, it's too late.
There are so many things to consider when you're searching for the perfect neighborhood. Safety, amenities, schools, your commute to work, do you need a car, just to name a few. Where do you start? Here are some essentials you shouldn't overlook when searching for a neighborhood where you will be happy living.
In the Chicagoland area, how long does it take to complete a sale once you agree to a purchase contract?
Some transactions take longer than others to get from signed contract to closing table for various reasons. Most of them having to do with the buyer securing financing, but other items may add to the timeline like issues arising from inspections, title deficiencies, and any number of unexpected matters.
In the Chicagoland area, the average time from accepted contract to closing per month in 2017 was as follows: