Selling your house in California’s diverse housing market requires purpose, intention, strategy, and an awesome FastExpert agent!
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When buying real estate, the biggest hurdle is often saving enough money for a down payment. Many buyers start looking into alternative ways to fund a deposit. Some options include getting a gift, selling another asset, or grants for first-time homebuyers. However, many potential buyers start eyeing off an account that is seemingly forbidden—their 401K. So, can you use a 401k to buy a house? Potentially. A 401(k) is a retirement savings plan offered by many employers that has tax advantages for the saver. Employees can contribute a portion of their salary to their 401(k) on a pre-tax basis, meaning that their contributions are deducted from their gross income for the taxable year. Because many employers offer to match contributions to a certain percentage, 401(k) funds can start adding up quickly. 401(k) can be invested in various options, such as stocks, bonds, mutual funds, and other investment vehicles. The downside … Continued
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Every house has property lines that identify the size of the lot. Most homeowners respect these property lines and stick to their own acreage. However, there are times when your neighbor might build on your property or try to take part of your land. This is known as encroachment. Encroachment can be annoying, but it can also disrupt the home sale process. This is a delicate topic that requires multiple parties to be involved in negotiations to resolve the issue. Use this guide to learn more about encroachment issues and answer the age-old question: can you sell a house with encroachment? What is Property Encroachment? Property encroachment occurs when your neighbor starts to use your land (or you start to use your neighbor’s land). This can occur naturally if one party forgets where the property line is, or it could be an intentional act to take someone else’s property. Property … Continued
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Earnest money shows the buyer’s serious intent, but is earnest money refundable? Ensure you get your deposit with these tips from an expert!
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An essential part of buying a house is making an offer. This is your bid for the property that the seller will review and either accept, counter, or reject. Depending on your local real estate market, the house you are interested in might receive multiple offers, which means you need to make yours stand out. This guide will cover everything you need to know on how to make an offer on a house. It will walk you through the steps you need to take before you are ready to bid on a home and the elements included in an offer letter. It will also highlight a few tips to increase your chances that your offer is accepted. Things to Do Before You Make an Offer Making an offer is a significant part of the home-buying process, but it is far from the first step in your journey. If you want … Continued
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Buying your first home is a significant life decision. Not only is this one of the largest purchases you have likely ever made, but it is also an investment in your future. You are going to make countless new memories in your home and reach other major life milestones. However, buying a house might seem difficult if you are a first-time buyer. Even people shopping in a favorable buyer’s market have to do extensive preparation and research before they are ready to make an offer. Fortunately, you can streamline the process by knowing what to expect and preparing the right documents. What do you need to buy a house? This guide will cover everything from preparing the right documentation to estimating how much house you can afford. Follow these steps so you feel better prepared for the entire process. 1. Qualifying Credit The first step before you start looking at … Continued
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The standard real estate process involves the homeowner making repairs and marketing the property to potential buyers. Once an offer is made and accepted, the buyers inspect the home to confirm it is in good condition before moving forward with the closing date. However, there may be times when the seller wants to list the house as-is and ask buyers to move forward without a home inspection. This could be a good option for sellers who want to move quickly and don’t have the time and ability to fix up the home and cover repair costs. Selling a house as-is without a home inspection is a little more complicated than a standard listing. Learn more about this option and how to move forward with it. Can You Sell a House As-Is Without an Inspection? The first thing to know is that you can legally sell a house without a home … Continued
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A rental property can be a lucrative long-term investment and an opportunity to collect passive income. However, managing a property investment takes time and energy, and you might be unable to keep up with your responsibilities as a landlord. When the time comes to move on, you can sell your home even if it is currently occupied by tenants. This commonly occurs when people decide to move, retire, or liquidate their property investment. Selling a home with tenants is possible, but it can be a little more complicated and will change your pool of potential buyers. Learn more about the process of selling a house when you currently have a lease or rental agreement in place. Can You Sell a House with Tenants? Yes, you can sell a rental property with tenants and you don’t have to wait for their lease agreements to end. There are two ways to go … Continued
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When you buy a house with a home inspection contingency, you get to have the property professionally inspected before you’re locked into your contract. If the house fails a home inspection, the buyer has the option to exit the deal or renegotiate terms. This article reviews the most common things that fail a home inspection. Discover what a home inspector might find in a home that would cause the sale to fail or require price or seller concession re-negotiation. 1. Ground Sloping or Drainage Issues Drainage issues attract mosquitoes and cause messy mud pits that ruin your lawn. But the bigger problem is what you can’t see – water pooling against your home’s foundation. Over time, this excessive moisture against the foundation can cause cracks, flooding in your basement, and serious structural damage. Problems with the ground sloping toward the house and improper drainage lead to potential foundation damage. It … Continued
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Between a down payment, closing costs, and regular monthly mortgage payments, buying a home is expensive. With current home loan interest rates over 7%, the monthly mortgage payment on a $500,000 home is over $3,300 (and that doesn’t include any other expenses like insurance or property taxes). For many, purchasing your first home isn’t just costly but a pipe dream without help. Fortunately, programs such as FHA loans help make buying real estate more accessible. An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), a government agency. FHA loans help low- to moderate-income borrowers qualify for a mortgage by lowering the qualification standards. Homebuyers can qualify with a lower The FHA makes it easier to qualify for a home loan by: While there are no borrower income limits to qualify for an FHA loan, there are limits on how much you can borrow and the type of property you … Continued
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