Should You Schedule a House Showing?

Deciding whether to set up a home showing sometimes can be a tough decision. Yet a home showing can make a world of difference for a buyer as he or she searches for the ideal residence.

Ultimately, there are many reasons to schedule a home showing, and these include:

1. You can look beyond a home listing.

A home listing generally offers details about a house’s age and features, as well as photographs of different areas of a residence. But a home listing can only provide so much information. Fortunately, a home showing enables you to assess a house in person and decide whether a residence is right for you.

During a house showing, you can walk around a residence and view each room. If you want to further pursue a residence after a showing, you can submit an offer to purchase. Or, if you find a house fails to match your expectations, you can always continue your search for your dream home.

2. You can gain comprehensive insights into a house’s condition.

When it comes to evaluating a house’s condition, it typically is a good idea to attend a showing. That way, you can get an up-close look at a home’s condition and determine whether a residence needs major or minor repairs.

A home showing enables you to analyze a residence both inside and out. After a showing is complete, you can decide whether you are satisfied with the condition of a home and map out your homebuying journey accordingly.

3. You can imagine what it would be like if you purchase a home.

A home showing makes it easy to envision what life may be like if you purchase a particular house. As such, a showing may prove to be crucial as you pursue your dream residence.

If you feel good about a house following a showing, you should not hesitate to submit a competitive homebuying proposal. Conversely, if you feel uncomfortable with a residence, you may want to pursue other options.

Of course, hiring a real estate agent may be exceedingly valuable as you search for your ideal house. A real estate agent can schedule home showings at your convenience and provide plenty of tips to help you pursue residences in any housing market. By doing so, a real estate agent will empower you with the insights you need to make an informed decision about a house.

Let’s not forget about the assistance that a real estate agent will provide after you find your dream house, either. At this point, a real estate agent will help you put together a competitive offer to acquire your ideal residence. And if you have any concerns or questions as you move along the homebuying journey, a real estate agent is happy to respond to them.

Ready to find your dream residence? Schedule a home showing, and you take the next step to acquire your ideal house.

Myths To Avoid About Home Buying

When it comes to home buying a home, there’s a ton of different information available out there. A lot of what has been presented as “fact” actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, you’ll find some of the most common myths that you’ll find about home buying.

If Your Credit Score Isn’t Up To Par, You Can’t Buy

To get good mortgage rates, having a good credit score doesn’t hurt. You can still buy a home if you don’t have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Don’t let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.  

You Need 20 Percent Down To Buy A Home

This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.

You Have To Make A Lot Of Money To Buy A Home

Your monthly income is one of many aspects of your financial life that’s considered when you’re buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and you’ll be in good shape to buy a home. 

You Don’t Need To Be Pre-Approved To Get A House

Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, you’re able to breeze through the process of making an offer if you’re pre-approved. The pre-approval process is one of the most important aspects of buying a home. 

If you’re prepared with knowledge, buying a home isn’t such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!

Avoid the Risk of Becoming a “Typical” Homebuyer

When it comes to purchasing a home, there is no need to settle for an “average” homebuying experience. Instead, there are many things that you can do to become an expert homebuyer, i.e. someone who can discover a first-rate house at a budget-friendly price.

Now, let’s take a look at three ways that a “typical” homebuyer can become an extraordinary one:

1. Evaluate the Housing Market Closely

The housing market can be complicated, particularly for those who are searching for a house for the first time. Fortunately, an informed homebuyer will be able to identify real estate market trends and plan accordingly.

For example, if there is an abundance of houses available and a shortage of homebuyers, you likely are operating in a buyer’s market. In this market, you should have no trouble locating a top-notch house at a price that corresponds to your budget.

On the other hand, a real estate market that features a limited number of outstanding houses commonly favors property sellers. Therefore, you’ll need to proceed cautiously if you want to acquire a high-end house at an affordable price.

Of course, you should always check out a wide range of houses in cities and towns where you’d like to live. This will enable you to explore many houses and improve your chances of finding a residence that matches or exceeds your expectations.

2. Get Your Finances in Order

Although you’d like to buy a home in the near future, you still need to figure out how you’ll pay for it. Lucky for you, many credit unions and banks are available that can make it easy for you to get pre-approved for a mortgage.

Lenders are happy to meet with you at your convenience. These financial institutions can outline a variety of mortgage options and help you make an informed mortgage decision.

With a mortgage in hand, you can enter the real estate market with clear-cut financial expectations. This may help you avoid the temptation to overspend on a home. Plus, you’ll be better equipped than other property buyers to narrow your home search, thereby accelerating the process of acquiring your ideal house.

3. Work with a Real Estate Agent

A real estate agent is a housing market professional. As such, he or she can help you simplify the process of going from homebuyer to homeowner.

For homebuyers, hiring a real estate agent is essential. This housing market professional can keep you up to date about new properties as they become available, set up home showings, submit home offers on your behalf and much more.

Perhaps best of all, a real estate agent is available to respond to your homebuying concerns and queries at any time. He or she will even provide homebuying recommendations to ensure you can navigate the property buying cycle quickly and effortlessly.

Ready to become an expert homebuyer? Use the aforementioned tips, and you can streamline the process of acquiring a terrific home that you can enjoy for years to come.

What To Do When A Seller Leaves Personal Property Behind

When a house is sold, it’s generally expected that the seller will take all of their personal belongings along with them. This includes furniture, pictures, cleaning supplies, and appliances that weren’t included on the deal. This is all in the expectation that the buyer will have a clean property to move into. 

If a seller does leave personal property behind, what are the rights of the buyer? Buyers may wonder if they can move in and actually take possession of the home if belongings have been left behind. There are a few reasons that buyers may leave property behind including:

  • The item is actually a fixture and not considered personal property
  • The item could belong to a tenant (or former tenant)

In these circumstances, each state determines different rights and procedures that must happen in order for the property to be secured without hassle by the buying party.

What If There’s So Much Stuff It Impedes On Moving In?

In the case that a seller has left so many things that a buyer cannot even comfortably move into the property, the contract may be refused. If there’s an inordinate amount of furniture, trash, and personal belongings, you certainly have a good argument to not sign the final contract for the property. Your rights as a buyer do, however, depend on what exactly was written into the purchase contract for the home you’re buying. 

Hidden Items

If an item has been deemed hidden or buried, the buyers have a different circumstance on their hands. Many times, a buyer is obligated to hang onto these items for the seller. The items were not technically abandoned by the seller to the buyer. The buyer becomes what is called a “bailor,” or a keeper of the property, who needs to be an agent in the change of possession of the items.  

Possession Unknown

If the ownership of an item is unknown, the terms of the contract are held up. Standard contracts generally state that any items left behind by the seller have been forfeited to the buyer. If the contract says nothing about personal property, the buyer generally takes on the role of “bailor” again in this instance.

If The Property Owner Has Died Or The Property Has Been Abandoned

If a property has been abandoned due to foreclosure or bankruptcy, or the property owner has died, any personal property that is left behind is a bit more of a risk for both parties. These circumstances generally state that a buyer will be taking on a property “as is” and essentially anything left is the buyer’s problem. 

If a property owner has died, the executors generally take on the responsibility of removing items from the property to be distributed to the rightful beneficiaries. Occasionally, this process doesn’t work out due to family quarrels. In this case, personal property of the seller goes into the category of forfeiture. 

Personal property is just one reason why you need to understand your legal rights when you’re buying a home.