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Going to Extremes

Appraisal Buzz

And in some condominium markets in Florida, home values are taking a hit as insurance premiums skyrocket. Couple that with the new Florida regulation requiring HOAs to maintain reserve funds for future expenses related to maintenance and inspections, and it’s no surprise that HOA dues are soaring.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

There are many reasons you may need to know the value of your property and for this, you need a home appraisal. Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. What is Checked During a Home Appraisal?

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Pre-Appraisal Checklist for Homeowners

D Fritz Appraisals

Home inspection reports (current and previous). If you’re unsure about the difference between each, we have a helpful blog post on home inspections vs. home appraisals. Copies of any previous appraisals – this can help the appraiser see how the value has changed over the years.

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Say What? Home-Buying Lingo You Should Know

Zillow

Approved for short sale : A term that indicates that a homeowner’s bank has approved a reduced listing price on a home, and the home is ready for resale. Look for this accreditation or something similar when shopping for a home inspector.). Buyers market : Market conditions that exist when homes for sale outnumber buyers.

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Important Mortgage Acronyms

Assurance Financial

If all goes well with the process, the EMD is applied to the final price of the home. If the house doesn’t pass inspection or the sale doesn’t go through due to an allowable contingency, the buyer gets the EMD back. But if the buyer cancels the sale or backs out for another reason, the seller gets to keep the EMD.

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What’s Included in Closing Costs?

PennyMac

More specifically, closing costs are fees that you (as the buyer) will pay to third parties who have performed services for purchasing your home. From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home. Closing costs can apply to both the buyer and seller.

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Second-Time Homebuyer Guide

PennyMac

Other home expenses, such as property taxes, utilities, homeowners insurance and often costly homeowners association (HOA) dues, will also continue until you sell. You won’t be able to use your home’s sale proceeds for your purchase and may need other financing, such as a bridge loan or home equity loan.