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If a buyer is using a bank loan to purchase a home, the lender will do an appraisal to protect themselves.  The appraiser will ensure the home is safe for a family to live in.  They will look for big items like functioning plumbing, electricity, furnace, and kitchen appliances.  The appraiser will also give an […]

Purchasing a new home is very exciting.  But, be careful of getting the cart in front of the horse.  There are many moving parts to this complex transaction.  The first thing you should do is contact a lender to get this critical financing piece in place. Most people immediately want to start looking at homes.  […]

So you navigated the numerous hurdles on your journey to buying your dream home.  Your last step was signing all the closing documents.  So why don’t you have the keys to your home yet?  Turns out, there are still a few more steps left to accomplish that other parties are responsible for. The seller also […]

Buying a home is such an exciting time.  But, scammers can quickly make your transaction become a nightmare.  Just as you are about to finalize your transaction, you realize a scammer has tricked you into wiring your closing funds into an offshore account.  There is usually no way to get your funds back. This is […]

During the 2008-2009 downturn in the economy, a lot of condo HOAs lost their FHA and VA approval.  This was due primarily when condo owners got behind on paying their HOA dues or there were too many units being rented instead of owner occupied.  The FHA and VA decided issuing loans to buyers for properties […]

Purchasing a home is the most complex and biggest financial transaction most people will ever make.  There are four ways a good real estate agent can help you achieve success. They can help you find a home that meets your needs for freeway access, construction, amenities, school districts, access to healthcare, and proximity to shopping.  […]

So you checked with dozens of lenders and got a great rate with low fees for your home mortgage.  You selected a reputable bank to help you purchase your dream home.  And, within a year of closing, “your” bank sold your home loan to another lender.  Why would they do this? This phenomenon is called […]

During the 2004-2006 Housing Boom, the lending scene got totally out of control.  Everyone wanted to buy properties to cash in on the rapidly rising real estate market.  Toward the end, people started to have problems getting their loan applications approved.  Lenders started to get lax on their underwriting standards.  They offered “stated income” loans.  […]

We all see those real estate reality TV shows where the terms of a home sale are quickly negotiated over the phone.  Be very careful negotiating a complex real estate transaction verbally.  A contract is not valid unless it is in writing and signed by both buyer and seller. It is easy to downplay details […]

There is a saying in real estate, “It isn’t over until it’s over”.  There are so many hurdles to making a transaction close successfully and on time.  Be very careful if your transaction does not close according to the terms of the mutually agreed upon purchase and sale agreement.  If that happens, technically the transaction […]