Three Home Buying Myths You Need to Know
If you’ve been thinking about buying your first home, chances are you’re getting tons of advice from everyone you mention it to. It can be pretty overwhelming which is why I want to share 3 home buying myths you need to know if you’re considering homeownership. These will help debunk some of the things you may be hearing from people who want to give their advice from the kindness of their hearts but probably aren’t professionals. MYTH #1: You Have to Put 20% Down to Purchase a Home This could be the biggest home-buying myth of all time! Putting a …
What to Know When Facing A Foreclosure
There are many unfortunate events that can lead to the financial nightmare of a home foreclosure. Although this is a very difficult and unsettling situation to be in, there are options and steps that can be taken to help secure a grasp on the situation. Here are the top tips to consider when dealing with a foreclosure. Foreclosures Take Time The entire foreclosure process can take anywhere from two to 12 months, depending on how fast your lender acts and where you live. Some states allow a non-judicial process that’s faster, while others require time-consuming judicial proceedings. Once you miss at least …
Commercial Real Estate Law- 5 Things You Need To Know As An Owner
Although planning for the future financial well-being of your family may seem intimidating, it is an essential step to ensuring that your family and assets are properly cared for when you can no longer be there for them. A shocking 55% of Americans do not have a solid estate planned ahead for the future of their families, leaving them vulnerable to court-related expenses and worse. When creating your personal trust and estate, it is vital to know and understand the proper key elements of the process. Below are the top need-to-know elements when creating an estate. How To Determine What …
3 Valuable HOA Home Buying Tips You Need to Know
When buying a home, condo or townhouse, you wouldn’t want to buy next door to where dogs are always barking, couples are always fighting, or neighbors are throwing parties all night long. But even after you’ve vetted the street and community several times before making an offer, there may be other silent issues to consider about your community. In Orange County, there are many master-planned communities offering beautiful homes, wonderful aesthetics, and enjoyable amenities. Many of these communities belong to a Home Owners Association (HOA) that governs them. While they promise neighborhood upkeep, a community with an association may not …
Tips to Protect Yourself During a “For Sale by Owner”
Buying a home is one of the most important investments you will ever make but there are some risks that come with this reward. If you plan on buying a home that is a For Sale by Owner, you need to be prepared to handle some of the work a real estate agent would usually help you with. Use these three tips to protect yourself during this process. Do Your Research If you’re planning on living in this home for the foreseeable future, you want to make sure this investment is your dream home instead of a neighborhood nightmare. Compare …
The Five People You Need to Meet With Before Buying Commercial Property
Some of the most successful people in the world attribute their accolades to the team that backs them. This entourage of experts is particularly important when investing in commercial real estate. Here are the five people you need to meet with before buying commercial property. Investors Commercial properties are typically incredibly expensive and if you don’t want to tie up all your assets you’ll likely have to join forces with other investors. It’s crucial to meet with these future business partners beforehand to ensure your goals and priorities are in sync. Current Owner Sometimes going straight to the source can …
How a Living Trust Can Save Your Loved Ones Thousands in Property Taxes
Passing your home down to your loved ones after you pass away might be a dream of yours but this generous act could end up being a taxation nightmare for them. Luckily, you can help your beneficiaries avoid financial heartache by protecting this asset in a living trust. Here’s how to save your loved one thousands of dollars in taxes when they inherit your home and the mistakes you must avoid. Step-Up Basis Rule The value of a home typically increases with time but so does the amount of tax you must pay on the gain. However, there is a …
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