Questions to Ask When Buying an Older Home

Whether the Jacksonville home of your dreams is 10 or 50 years old, there are a variety of issues that you will need to deal with when purchasing a home that is not brand new.

Maintenance Costs

Have a qualified home inspector check out of the major areas of the house, including the plumbing, the heating and cooling, the windows, the roof and the major appliances.

Ask the sellers to provide a list of repairs and modifications that have previously been made to these areas of the home and the dates on which they were made. Also ask the owners to estimate the age of these things.

It is with this information that you can make a more informed decision regarding the sale price of the Jacksonville property. These major areas of the home are generally…

2135 Views, 0 Comments

Unravelling the Confusion of Closing Costs

 In comparing loans for your new Jacksonville home, keep the following in mind.  Closing costs are split into two main categories: the closing costs controlled by the lender which vary from place to place and closing costs not controlled by the lender that will not be negotiated. 

The Process

You will first obtain a "Good Faith Estimate" of closing costs when talking to a mortgage lender.  It is your right to receive a copy although they may send it to you within three business days of your application.

Remember, the mortgage lender is not the only one charging all of your final closing costs, nor do they know what all the costs will actually be. They will normally give you a higher end estimate based on an educated guess from…

2591 Views, 0 Comments

Reduced Closing Fees, No Closing Costs, Seller Will/Won’t Pay - Did You Count the Closing Costs?

Closing Costs are those pesky things that you do not always think about up front when looking for a home or even selling one.  Part of understanding closing costs and how they are determined has to do with governmental taxes, fees for recording of the new deed, fees for the title search to verify that the seller has clear title to sell.  Others may be ‘discount points’ for your loan.  In any case, getting an estimate at the beginning of the process is the best you can hope for. Often times, although a trained professional can perform a close estimation process, even your realtor will not know the exact bottom line until the paper is ready to sign and you have to put the money on the table.

Closing Costs for the Seller

Easy. They take the closing costs…

2444 Views, 0 Comments

What is title insurance - and didn’t I buy that at closing?

Title insurance is an insurance policy to cover any losses if it turns out the seller of a property you purchased did not have clear title to do the selling.  Yes, indeed you did buy title insurance - but typically only for your lender.  You have to request and purchase a separate policy for yourself as the new homeowner.

Why Didn’t My Lender Tell Me?

It may have been stated in the loan forms that you were to read, but like much of the ‘boiler plate’ terms of a loan contract some of it just washes over the reader.  It is a lot of information to deal with, and often the buyer skims rather than reads in detail.

Shouldn’t My Realtor Have Told Me?

Yes, and no.  Homeowner title insurance is a voluntary item, even if it is a good idea.  It is…

3679 Views, 0 Comments

Remodel Your Home to Re-New Value and Style

Flip the channel on your television and you will see multiple shows on remodeling, everything from DIY projects to professional designers and even contractors.  Most people have seen several ideas that have sparked the urge to investigate remodeling for themselves.

But Where To Begin….?

Have a look around your home and decide on one project that you want to do from start to finish.  If you are thinking in terms of resale value, then the bathrooms and kitchen are your best features for a remodel.  The return on resale is approximately double the cost of the remodel.

Talk to the local suppliers of materials in Jacksonville homes and start to think about whether this is a job you want to do on your own (if you really are handy) or if it would be…

2255 Views, 0 Comments

Making Wise Decisions as a First Time Home Buyer.

This is it, you’ve decided to stop renting and purchase a home.  It’s exciting, and it’s scary all at once.  Big steps, big numbers, mind numbing forms, stacks of contract papers, and still, in the end you have embraced your dream of owning your very first home!

First Steps

Look at what you are paying for rent, determine how much more or less you would be comfortable with for a mortgage payment.  Get that figure firmly in your mind.  Think about it carefully.  Write it down.

Now, hit the yellow pages book or go on-line and look up mortgage lenders.  Interview several.  Talk, ask questions, and if you are not happy with the answers try the next in line.  If none of them give you answers that make you happy, look at your circumstances again and make…

2161 Views, 0 Comments

4 Additional Ways Buyers Sabotage Their Perfect Home Purchase

“4 Additional Ways Buyers Sabotage Their Perfect Home Purchase”

This is a continuation of a recent post in Sandra Johnson's Columbus Real Estate Voice "4 Ways Buyers Sabotage Their Perfect Home Purchase"

1.  Not Getting Pre-Qualified

There is nothing like getting the perfect offer accepted then finding out that you can’t get the mortgage.  Don’t be out all that valuable time you spent searching for the perfect home!

2.  Telling Too Much To the Seller

 
Talking to the seller can be a great way to search for useful information to use in negotiations.  However, the seller can just as easily get information from you that would be harmful to your own negotiation position.  So never let the seller know that you need to make a decision in a…

2596 Views, 0 Comments