Many people make enough money to afford monthly mortgage payments and household upkeep, but having enough cash for a down payment can be difficult. Here are some common ideas on where that money might be found. Sale of your current primary residence. Assuming you bought your house some time ago, the combination of its increase … Read more
In the days before giant federal lenders, local savings and loans (S&Ls) used money from depositors to make loans. S&Ls charged interest on the principal (i.e., original loan amount) and fees to cover the expenses of managing the loans, activities like collecting payments and keeping detailed records. They paid their depositors a little interest, and … Read more
Most homeowners are familiar with homeowners insurance, which covers catastrophes like natural disasters or theft, but not everyone is familiar with home warranties, which cover normal wear and tear on common household appliances. Home warranties can be a great investment, especially if you are a new homeowner and you just spent all your cash when … Read more
Many of us are not as organized as we’d like to be, but sometimes it’s worth extra effort to organize records pertaining to real estate if you own any property. Why? Because not keeping records can cost you time and money. Which records? I’m referring to those that pertain to buying or selling a property … Read more
Since the devastating fires in Lake County last year, posts about wildfire and house fire recovery tend to catch my eye. State Farm Insurance recently shared some tips that I’ll summarize below. The Federal Emergency Management Agency (FEMA) also has some excellent information online. No one ever thinks they will be the victim of a … Read more
Last week, I reviewed several tips to avoid pest and fungus problems. This week, I’ll provide several more. As a reminder, when it’s time to sell your residential or commercial property, you’ll need a pest and fungus inspection. The pest and fungus report outlines both problems and prospective problems, so while you may not have … Read more
When properties go on the market, one of the most common inspections is the pest and fungus inspection. Most buildings, even new ones, have some reportable problems. Here’s why: pest and fungus reports include two types of findings—problems and potential problems. Section 1 includes evidence of pests and/or fungus including mold, dry rot, termites, carpenter … Read more
Natural Hazard Disclosures (NHDs) are required for virtually every real estate transaction (and if they’re not required for yours, you should get one anyway). An NHD report can be generated in varying levels of detail and as the name implies, it lets you know which natural hazards may cause problems for your property—some of which … Read more
When prospective homebuyers think about jumping into the market, they like to see what’s for sale in their price range with the amenities they’re looking for in their geographic location. They typically go online and find various sites promising to make their search easy and quick. Generally, these are empty promises, and one of the … Read more