By and large, HOA (home owners’ association) fees only apply to types of residential properties which share a large common area with other similar properties. In other words, they mostly target condominiums, townhouses, or other homes in planned developments (gated communities, leased land properties, etc.). However, they can also apply to regular subdivisions in single […]
What Changes to the Closing Process Will the TILA-RESPA Integrated Disclosure Bring?
As we’ve previously explained, on October 3, 2015, the HUD-1, GFE (Good Faith Estimate), and TILA (Truth in Lending Act) went away. They’re being replaced by the Closing Disclosure and the Loan Estimate. The latter, which has been alternatively dubbed a ‘know before you owe’ document changes what to expect when closing on a home […]
Buying a Foreclosed Home in 5 Fast-Paced Steps
You’ve likely arrived at this post on how to buy a foreclosed home because you’re a first-time buyer, interested in the lower end segment of the market. Don’t worry, you are in no way alone. Not only are most foreclosed home buyers first-timers, but there are still plenty of foreclosures going around. Data from the […]
9 Tips for Attending an Open House as a First-Time Buyer
While the Internet abounds with open house ideas for sellers and realtors, prospective buyers are comparatively overlooked. That’s because they allegedly have it the easiest. It’s a buyers’ market, after all, and, as far as open houses go, all they have to do is show up and snoop around. Yet, even if this may be […]
The 6 Steps to Buying a Home in 2015
Here are all the steps to buying your first home that you need to know about in this allegedly strong market. It’s apparently easier than ever to get a good mortgage, with low rates, but it’s still a sellers’ market out there—so come prepared! Step 1: Know your financial boundaries The first steps to buying […]
3 Tailored Tips for Millennials: Buying Your First Home in 2015
“How to buy your first home” is a loaded question in 2015, as millennials are starting their families, progressing up their respective career ladders, but still find themselves burdened by debt. The good news is that buying a first home is still totally feasible, even under these strained circumstances. The bad news is that you’re […]
5 FAQs about the October 3, 2015 TILA-RESPA Changes
On October 3, 2015, new Real Estate Settlement Procedures Act (RESPA) rules will come in effect, with great impact on many realtor activities. The United States’ Consumer Financial Protection Bureau (CFPB) is aggressively enforcing RESPA and TILA (The Truth in Lending Act), both of which apply under the provisions of the Dodd-Frank Wall Street Reform […]
The Short Guide to Buying a Fixer-Upper
You don’t even have to be a fan of old homes. You needn’t even be on the lookout for buying residential real estate. The appeal of fixer upper homes has transcended such limited niches in the past few years. They owe their popularity to runaway reality TV shows like HGTV’s Fixer-Upper with Chip and Joanna […]