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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.

Appraisal 126
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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 should budget for an amount that is 1% to 3% of the home's purchase price.

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What’s Included in Closing Costs?

PennyMac

From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home. In some states, you need an attorney to close on your home. This fee will cover the attorney preparing and reviewing agreements and contracts. Lead-Based Paint Inspection. Closing Fee.

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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

This means that it's harder to know a local neighborhood well before searching for homes. Changing locations may make it feel like committing to a home isn't worth the effort, too. With everything from securing a loan to dealing with the home inspection, a home buyer has a lot to handle.

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The Complete Guide to Buying a Home After College

Raleigh Realty

Build Equity Your home will have a value assigned to it, and you'll be making mortgage payments. The difference between the home's value and what is left in your mortgage is the equity. In other words, if your home is worth $100,000 and you have $60,000 remaining in your mortgage, you have $40,000 worth of equity.

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Second-Time Homebuyer Guide

PennyMac

Selling Before Buying Pros and Cons Most people choose to sell before buying, which offers the following benefits: You can access the equity and any profits from your current home to buy your next home, without having to include a contingency clause. If your home fails to sell, your new home closing may be affected.