Monthly Archives: October 2016

Tips To Get The Right Home

More than seven million American homes are sold every year. But, many new homeowners are not informed and not very experienced in the home buying process. Unaware of what they need to qualify for a home, what is available to buy, or what the heck a property tax is. Well, if your reading this article and have considered entering the market, I’m glad to see your interested in buying a home. And if buying a home is still far off in the future for you, it’s still important to get informed and start planning now so you’ll know what to expect when the time comes. Here a ten tips to get you going in the right direction:

1. Paying your bills on time. You have to this…Yes, even if you have lots and lots of money. Paying off debt and doing it on time, makes you a lower credit risk and, therefore, a better candidate for a mortgage at the lower rate. Paying your bills now can make it easier for you to get a mortgage later.

2. Keep your credit report up-to-date. Check and update your credit report before starting to look for a home. Credit reports are used by lenders to determine whether you will qualify for the mortgage you seek and for the interest rate you pay, so make sure your report is accurate, at least request a copy to know what is in there.

3. Determine what monthly mortgage payment you realistically can afford. Calculators to determine this can be found by doing a simple google search, but really think about your income and consider what amount you can feel comfortable paying each month.

4. Learn the market. Take time to learn important terms and trends understand their meaning. Become familiar with words, ideas or trends used in the home-buying process. This will make you a more knowlegdable home-buyer and inform your decision making whether it be about your loan details or the market fluctuations or where how close you are to Home Depot.

5.Choosing a lender. Find out what you can afford before you look at houses, this is a very important point. When you do come across a Home you really like, you can’t put in an offer without first getting qualified for an amount! In fact, many real estate agents consider this a sign of an “non-serious” buyer. Getting qualified, is usually a free service and you get to know exactly what you can afford. Shop around. After you are qualified, keep looking around to see if there is something better for you out there. Look at the different types of mortgages and the interest rates offered by different lenders. Have another the lender validate your calculations and confirm what you have already been presented with.

6. Understand the deal. Get a to know the process, how an escrow works and what “earnest money” is. Ask about the closing costs and other fees before you sign documents. Ask about the rules if you decide to refinance or prepay your mortgage. Find out about what short-sales or foreclosures are, and if they may be available to you.

7. Be available and interact with your lender, agent and movers. Quite frequently, they will need to talk with you and may need additional information or decision to be made. Make sure you get back to your whomever contacts you quickly so any loose paperwork or financing issues can be completed as soon as possible.

8. Avoid emotional buying. Before you look at any house have a plan, determine what features you really need, a price range you need to stay within, repairs your willing to make in a potential home and then try to stick as close as you can to the list you made.

9. Find an agent that understands your needs and listens to you. Someone knowledgable, professional, but also someone you like, because you will be spending a lot of time looking at properties and talking on the phone with this person.

10. Visit as many homes as possible. Find out what you like, get a feel for what you may need and compare and contrast and most importantly…have fun!

How To Become An Estate Agent

The Qualifications:

A degree is not in any way an essential entry requirement for a career in real-estate but the ever-increasing competition for employment means that taking a degree, foundation degree or even a Higher National Certificate in one or more of the following subjects might just give you a slight advantage:
● Business Studies (Or equivalent)

● Estate Management

● Property Development/Management

● Surveying

● Urban and Land Studies.

A postgraduate qualification isn’t really required for entering a career in real-estate and like a lot of different careers, professional exams can be taken once you’re actually in the role. You might be able to enter the profession as an administrator and then progress to the position of estate agent as you gain experience. Experience is not essential to become an estate agent, a sales background or an administrative and/or customer service background can be helpful for you as you’ll have developed some of the skills required to become an estate agent. Also a lot of people find that studying law helps them too as there is a lot of legislation coming into buying houses and the legal implications of property purchases can be difficult to navigate, although again, this is not necessary to become an estate agent.

The Responsibilities:

In England, Wales and Northern Ireland property sales are almost always handled by an estate agent, however in Scotland property sales are usually handled by a solicitor. As an estate agent you will need to:

● Collect information about a specific property (Or properties, if you’re doing multiple viewings) and arrange for photographs to be taken of the property (Or properties) in question.

● Visit and talk to the sellers about their property, find out as much as you can about said property.

● Estimate the value of the property

● Market and promote the properties for sale to buyers.

● represent the sellers in negotiation with prospective buyers.

● Liaise with all interested parties in the sale including mortgage brokers, any solicitors, the surveyors and any other estate agents.

● Advise your clients and help the buyers decide what it is that they want to buy.

● Make sure that the price agreed is acceptable to both buyer and seller.

● Keep up to date with trends in the relevant property market.

The responsibilities that come with the job can be very difficult and people have been known to crack under the pressure. But always turn to your employer for help should you need it.

Work Experience:

Starting a career in an estate agency is relatively straightforward as it is quite common to find trainee negotiator opportunities where no prior experience is necessarily required and full training is usually given. Experience in a related area like customer service or administration might help your application and having good IT skills is also very desirable, as it reduces the amount of training that you now need. Work experience as with almost every job will usually be unpaid, will require an awful lot of hard-work and determination to get the job and will require you to be at the top of your game every time you’re in work. Gaining work experience will help you in your application if you want to become an estate agent too.

Technique:

Having a sales technique is always very useful for people. Learning about the way that people sell, working out a way that suits your personality and something that doesn’t pressure people when you’re trying to sell them something as well, is essential to being a real estate agent. The industry is very much run on sales and it is a ruthless business in that you can make an awful lot of money and if you don’t make the company money then they may look elsewhere. Be wary of this and work hard to develop your technique.

An Understanding of the Property Market:

Knowing the property market can be a lot harder than you think. You have to be aware of the various issues that are currently afflicting the housing market at the moment, are their external factors to this? You need to have a basic understanding of this because sometimes the housing market may drop, which means that sales dry-up and prices often rise, which makes it difficult to buy houses. Understanding of this and what makes these happen is very important to a successful career as an estate agent. This will also help you to understand why some of the buyers you have may not have a lot of money, or may be reticent to purchase a property at this time. As much industry knowledge as you can get is never ever a bad thing

How To Buying A Home For Someone Who Disabled

Owning your own home is considered a cornerstone in the society but sadly, only a few families are able to enjoy this privilege. This prospect seems daunting especially if you are physically or mentally challenged. Due to the condition, you may require a house in certain areas, which comes with various modifications that could be costly. All hope of owning a home despite your condition is not lost, as there are several assistance programs that can make this dream a reality. The programs make the process easier than going alone. Below are four useful tips to assist you in getting a house fast.

Beginning the Process

Before commencing on the actual home buying process, it is advisable to first of all consider and determine your needs in as far as your disability is concerned. This could be close proximity to the local pharmacies, public transport and the physical layout of the house. It is imperative to avoid features like long driveways and narrow stairwells. After establishing these needs, you will then see how much you can afford to shelve for the project in order to know the neighborhood or type of house to search for.

Seeking Assistance

Buying your own house is not a walk in the park especially if you are not familiar with the various procedures of making an application for a home loan and qualifying for the same. It might also be a daunting task if you are not well versed with the different terminologies used in real estate or you do not understand the industry as a whole.

Fortunately, aid is around the corner as the Department of Housing and Urban Development (HUD) has a number of housing counselors that have been approved in every state. These housing counselors are there to assist disabled persons in buying their homes. They will offer you a lot of insight if there are any pertinent issues regarding your case that need to be addressed. They can also point you in the direction of financial assistance programs that are relevant.

Learn and Understand Your Rights

Your rights as a disabled person are well protected in the Fair Housing Act that prescribes prohibitions to housing providers like sellers, lenders and real estate agents from doing discriminatory acts against you. The discriminatory acts could be in the form of altering the criteria for application and qualification, terms and conditions or fees payable. The Act also offers permission to make some reasonable modifications to the property like accessibility ramps or bathroom grab bars.

Financial Help

A number of people with disabilities are from the low-income bracket. As such, they cannot access the available standard mortgage loans since they cannot qualify for them. The section 8 Home ownership Voucher program was launched by HUD to help low-income families and individuals rent or buy their own homes. The program is able to assist by ensuring that it subsidizes the monthly mortgage payments. You should contact your local authority in charge of public housing to see how you can get help.

There is also the option of the Habitat for Humanity (HFH), a non-profit program involved in building and rehabilitating accessible homes for those in need. The HFH affiliates have their own rules but on a general scale, the homes are usually sold for the same amount used to build them and require a deposit first. You can also get a mortgage-assistance program with this option.

There are other places where you can get private or public housing loans and grants that can cover financial aid for making modifications. The American Association of People with Disabilities offers between $1,500 and $25,000 on extended terms for payback to build upgrades. You can also get mortgages from institutions that assist people with disabilities to acquire new homes. You could also decide to use the compensation you get from your personal injury claim to finance the buying of a new home.