1 of 4 photos Bloomingdale Boro For Sale $319,9003 Beds / 2 Baths
Rare opportunity to purchase a short sale with tons of great updates in pristine condition. This home is just minutes away from the schools and has a back yard that's great for entertaining...
1 of 4 photos Morristown New Jersey For Sale $2,6952 Beds / 2.5 Baths
Beautiful Fully FURNISHED town house for rent or purchase ! Large open floor plan with Living, Dinning ,and laundry room. Walk to town, restuarants, shops, nitelife and NYC train...
1 of 15 photos Elmwood park For Sale $269,9003 Beds / 2 Baths
WELCOME HOME!!!This updated cape cod is well maintained and has alot of extras.It will keep you cool in the summer with its central air, and warm in the winter with 3 zone baseboard heat...
amortization The process of
paying the principal and interest on a loan through regularly scheduled
installments. Initially, most of each payment is applied toward interest
owed, and later in the loan term increasingly applied toward principal.
appraisal An opinion of the value of a property at a given point in time.
closing The final procedure in which documents are signed and recorded and the property is transferred.
comparative market analysis An estimate
of the value of a property based on an analysis of sales of properties with similar characteristics.
credit report
A detailed account of an individual's credit, employment, and residence history. A lender uses this report to determine a loan applicant's
creditworthiness.The three largest credit bureaus are Trans Union Corp.,
Equifax, and Experian (formerly TRW).
disclosure A statement to a
potential buyer listing information relevant to a piece of property,
such as the presence of radon or lead paint.
escrow A neutral third party
holds documents and money for a real estate transaction and ensures that
all conditions of a sale are met. Also refers to a special account that
a lender uses to hold a borrower's monthly payments on property taxes
and insurance.
home inspection An examination of a
home's construction, condition, and internal systems by an inspector or
contractor prior to purchase.
homeowner's insurance This insurance includes hazard coverage for any damages that may affect
the value of a house, in addition to personal liability and theft
coverage. interest rate The fee,
expressed as a percentage, charged for a loan. The interest rate also
helps determine the monthly payment. For adjustable-rate loans, the
interest rate may change from its initial level.
mortgage In casual use, a sum
of money borrowed to purchase a home at a certain interest rate using
the property as collateral. In formal use, a mortgage is the legal
document that pledges property as collateral for a loan.
multiple listing service (MLS)
A service that combines listings of all available homes in an area
into one directory or database, with the exception of For Sale By Owner
(FSBO) properties.
point
An amount equal to 1 percent of the loan amount. Points may be paid
by the borrower at the time the loan is made to get a lower interest
rate. Lenders offer various rate/point combinations.
prequalification A lender's
preliminary assessment of a buyer's ability to pay for a home, and an
estimate of how much the buyer may borrow.
property tax Tax paid on privately owned property. Property taxes are usually paid semiannually, or monthly
if the lender requires. The amount is based on local tax rates and
assessed property value.
purchase agreement A document that details the purchase price and conditions of the transaction.
refinancing The process of
replacing an older mortgage with a new mortgage that has better terms.
title
The legal document conferring ownership of a piece of real estate.
I live out of state and am relocating to GOLD CO - A great question!! The criteria you should use are the things that are most important to you and your family's unique situation. Do you want a lot of ..
Property Inspection - Regardless of what the inspector may uncover, you shouldn't be
overly concerned about the actual home inspection
Pick An Offer - Picking among several offers isn't always as easy as choosing the highest price, especially in hot markets.
Open House Expectations - Was vacating your home for four or five prime-time hours worth the
inconvenience?
Open House Expectations - Was vacating your home for four or five prime-time hours worth the
inconvenience?
Your Open House - Public open houses may be more beneficial for the
agents themselves than for the home sellers.
Marketing Info - Your broker's marketing efforts and considerations will
include advertising, showing the property, how long the house has been on the
market and whether you're buying another home.
Selling My Property - The age-old observation that "you never get a
second chance to make a first impression" certainly applies when it comes to
attracting buyers to a for-sale home.
Getting Gold Coast Real Estate Ready - A
house that "sparkles" on the surface will sell faster than its shabby neighbor,
even though both are structurally well-maintained.
