Blog - real estate tips

Concessions in a Seller's Market

Who doesn’t want to get a good deal on a home? It’s normal for home buyers to try and negotiate with sellers to get the best deal possible.

But in this seller’s market, where homes are selling fast and buyers don’t always have a lot of wiggle room to negotiate, you may be wondering if you can still bargain.

The good news is, yes, there are still concessions you can get. We share some things you can haggle with your seller even if they don’t want to budge on price.

Ask sellers to make repairs to the home.

If the home you are buying needs some repairs, it can be an excellent opportunity to ask your seller if they can make repairs before they sell. If damages come up during a home inspection, sellers would likely agree to a concession since…

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Red Flags of Buying a Home "As Is"

While house hunting, you might have seen some listings of homes sold “as is.” Home buyers might find these types of homes attractive because they’re typically priced lower than similar houses. Before you purchase an “as is” home, you must be able to decipher if the home is sketchy or not.

Here’s what to watch for if you plan to purchase a home as is.

Potential Foundation Problems

Correcting foundation problems is one of the most expensive repairs you can do to your property. The foundation of a house is one of the most, if not the most important, part of a house. Purchasing a home with a faulty foundation can cause you thousands of dollars to fix the problem.

All poured concrete foundations will crack sooner or later, but hairline cracks…

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Things That Can Hurt a Home Appraisal

Many homeowners are busy preparing their homes for sale. Are you among them? Selling now certainly makes sense. The housing market continues to favor sellers, with most listings pulling in plenty of competing offers.

Even with the persisting seller’s market, in order to maximize the sale price of your home, you’ll want to eliminate or fix anything that could potentially hurt your home appraisal. A high appraisal will ensure that you can earn top dollar for your home, while a low appraisal can cost you tens of thousands at closing.

Keep in mind that not all home renovation projects will yield a healthy ROI. It’s vital that you consult with your real estate agent to learn more about which recommended upgrades and repairs will be most likely to net…

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Home Loan Options for Single Parents

Are you a single parent who dreams of owning a home but nervous that you’ll encounter too many challenges? We’ve got good news for you!  There are home buying assistance programs that can help you purchase a home.

If you’re a single mom or dad who wants to buy a house, we’re here to list some loan programs that might work best for you.

Best Loan Programs for Single Moms and Dads

Single parenthood often means having a tighter budget, so a loan program with looser eligibility requirements is typically your best bet. 

Fortunately, various loan programs are designed for lower-income homebuyers –many of which offer low down-payment options.

Here are some of the best loans programs to help fund single parents’ home-buying journey:

FHA…

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When You Can't Find a Home Before Yours Sells

When you envision the process of selling your home and buying a new property, you likely imagine synchronizing the sale with the purchase so that both close at nearly the same time. Only a fortunate few homeowners enjoy this level of perfect serendipity. What usually happens instead is that either your buyer or the seller of your new home will complete their transaction well ahead of the other—in fact, one of the transactions may not have even begun before the other closes! With this possibility in mind, let’s examine the options available to you as you work to juggle the many complexities you and your buyer may face.

The advantage to being the seller whose home sells before you’ve purchased a new home is that you won’t have to be responsible for…

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Everything You Need to Know About Condos

When you are preparing to purchase a home, it’s worth considering whether a single-family home or a condominium (or condo) will best suit your needs. Today, we’ll discuss the pros and cons of condos, who they’re best suited to, and how HOAs can both complicate and streamline your life as a condo owner. Read on for everything you need to know about condos.

Are You a Condo Candidate?

For first-time homebuyers searching for lower down payment options, condominiums can serve as an equity-building stepping stone toward traditional home ownership. Retirees looking for a way to downsize may also benefit from selling their larger homes and purchasing a condo for their golden years. Condominiums may also be constructed in urban centers, giving…

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Getting Your Credit Ready for a Mortgage

Did you know that you could save thousands of dollars if you prepare your credit before applying for a mortgage? Your credit score is one of the most critical factors that determine your mortgage interest rate and which home loan program you qualify for.

This article will show you how you can get your credit in top shape for your upcoming mortgage.

1.) Learn where your credit scores stand.

First off, know that your credit score doesn’t have to be perfect to buy a home. Several loan programs allow buyers with credit scores in the low 500s to purchase a home. However, you should be aware that with low credit scores typically come paying higher interest rates.

Because of this, we recommend you begin by checking your credit scores so that…

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Is Buying a Foreclosure Smart for First-Time Buyers?

If you are looking to buy a home but are worried that you can't afford monthly payments, why not consider a foreclosure as your first home?

A foreclosed home is usually owned by a bank or lender and sold at prices way below its market value. Who knows, you may just hit the jackpot by purchasing a residence that would have been out of your price range. 

Here are the top reasons you should consider foreclosed properties as a first-time buyer.

How Buying a Foreclosure Works

A foreclosure happens when a borrower fails to pay their monthly payments. The lender then exercises his right to seize the property and resell it to recover or reduce its financial losses.

Foreclosed properties are usually put up for auction, which means that lenders…

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Dos & Don'ts of Home Staging

Given the option, you would most likely choose not to stage your home while you’re still living in it. However, it’s not uncommon to have to prepare to show your home before you’ve closed on your new home. Don’t despair; while it is definitely more challenging to keep a home show-ready while it’s occupied, it’s certainly doable. 

First, let’s look at why staging a home is so important. According to recent research conducted by the National Association of Realtors (NAR),  31% of realtors reported that home staging greatly reduced the amount of time a home remained on the market. 23% of both sellers and agents reported netting up to 5% more than the asking price, while 18% of sellers’ agents said they closed for up to 10% over asking. 

None of the…

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Tips for Selecting the Right Agent for You

Buying a home is an exciting, yet complicated process. You will have many decisions to make along the way, including your ideal neighborhoods, budget, and timing for your move. Whether you are buying your first home or purchasing a home in a new location, you should know: one of the most important decisions you’ll make is choosing your real estate agent.

In today’s article, we’re sharing our tips for selecting the right agent for you. While there are hundreds of qualified, personable, hard-working agents in Middle Tennessee, the following tips will help you narrow the field.

1.) Invest Your Time

Some buyers spend more time choosing a hotel for their vacation than they do researching their real estate agent. Yet for most homeowners, their…

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