With thousands of foreclosure homes flooding the real estate market, investors and prospective homebuyers are increasingly turning towards foreclosures as a more profitable alternative. So if you are on the lookout for a suitable but budget priced property, searching through foreclosures can give you some of the best deals in todays market.The term foreclosure homes refers to properties that are taken over by lending authorities such as banks...more
If you are thinking about buying foreclosed homes for sale, then you are planning to make a worthwhile investment as these are properties which are foreclosed as the owners could no longer afford it and thus defaulted in paying back the secured mortgage loan. As a result, the lender forecloses the property and puts it up for sale at really low prices just to recover losses. Real estate calls for huge investments. With the growing economy,...more
Buying foreclosed homes is a wonderful investment option to buy a property where real estate is exorbitantly priced. Many people spend their entire lives living in rental accommodation and fail to buy a home due to financial constraints. Foreclosures for sale enable people to buy a house that fits their budget and fulfill their dream of having a house that they own. When you are putting your hard earned money in purchasing a property, it is extremely important for you to be sure about the investment. Everyone wants an investment which is not only attractive in terms of costs, but also ensures appreciation in value. As foreclosed homes are available for sale due to inadequacy of homeowners to pay back the mortgage loan amount, the lenders are looking for buyers to sell away these properties as early as possible. The sale is not driven by profit motive, but by desire to recover the lost mortgage loan given by the lender. The following steps will guide a potential buyer in purchasing foreclosed homes successfully:1.Find foreclosure listings: By searching on the internet through websites of various banks, department of Housing and Urban Development and various real estate companies,...more
Foreclosure homes offer an opportunity to buy a good property at lower prices. This is an investment option which attracts not only the first time buyers but also many real estate investors as they know that this is an economically viable investment option. Buying a property involves keeping many considerations in mind and a lot of planning. Real...more
It looks like the First Time Home Buyer Tax Credit may be sticking around a little longer than originally planned. There are still a few questions regarding amendments requested by the Senate Republicans, but if all can be smoothed over, the credit will be extended until April 30.Introduced last February as a means of kickstarting the sluggish...more
When a home inspector gets sued, several things tend to happen. At first, the inspector is often dumbfounded; did he miss something on the inspection? Well, the Client apparently thinks so! But, what happens next?Well, if the inspector carries professional liability insurance, such as an Errors and Omissions policy, the inspector may need to immediately tender the complaint to his carrier. Depending on the coverage and terms of the policy, the inspector may be on his/her own at that point, or may relinquish all rights to their insurance company.Sometimes, if the carrier feels there is risk, or that the costs of defending the claim may be high, they will often offer a settlement. Sometimes that settlement comes from the inspectors deductible. In essence, the inspector loses, and never gets to tell his or her side of the story.Where the inspector has no E&O, they may try to contact the Client and see what the dispute is about. In some cases, the inspector may offer to take care of a problem, or may offer money to make things go away. Sometimes this works, but often the inspector retains an attorney, at an hourly rate. Bingo the legal bills start to pile up.But, what if there was...more
Theres an interesting question. While most disputes surrounding home inspections primarily deal with allegations of negligence on the inspectors part, what recourse actually exists for the defendant or plaintiff? Well, there are always the courts....more
I exceed the Standard of Practice. Many inspectors make this statement all the time. Many put it in their brochures and on their website. But, what exactly do they mean? What measure can anyone apply, with any degree of certainty, to gauge what can...more
Doing everything yourselfThe internet has tremendously made it easy for every buyer to learn the usual tasks reserved only for real estate agents. This is one of the most common blunders homebuyers make when looking for homes for sale online. While...more
You are budget-savvyIt takes years of practice to become a good budgeter. Clearly defining your wants from your needs is greatly helpful in planning monthly expenses. If youre blessed with good money-management skills, you know youre on your way to...more
FinancesGet your finances ready. The first step in home-buying is to know just what kind of Fort Lauderdale real estate property you can afford at what price range. This is important in determining, in turn, how much you can borrow. If youre moving...more