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Unwrapping what to expect in your home inspection, appraisal and closing

Housing Wire

What’s the difference between a home inspection and an appraisal? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. Home Inspection. After all, no property is perfect.

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Real Estate Sales Agreements: Understanding Your Contract

Movoto

This is a legally binding agreement between the buyer and seller that helps ensure the sale will be completed according to the contract’s outlined conditions. Repairs and other changes that can arise as a result of home inspection fall under the contingency category of real estate purchase contracts. Property Identification.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

How Home Appraisers Decide on the Value of Your Property. 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.

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Understanding the Math of Profitable Investment Properties

Eppraisal

Analyzing Operating Expenses To accurately gauge the profitability of an investment property, it's essential to account for all operating expenses. These may include property taxes, insurance, maintenance and repairs, property management fees, and any homeowner association (HOA) dues.

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7 Takeaways: Due Diligence Fee and Earnest Money in Real Estate

Raleigh Realty

It should be noted that not every state uses due diligence fees in real estate transactions, so it is important to consult with your real estate agent so they may educate you on the legal implications of a housing contract. Inspections are an expense that is paid by the buyer. Due Diligence: What Is it?

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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. State laws will usually dictate who is legally responsible for overseeing the closing. FHA Mortgage Insurance Premium. This premium payment is separate from your monthly mortgage insurance payments.

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What Is a Land Contract In Ohio? Full Guide [2021 Update]

The Robert Weiler Company

While the buyer takes possession of the property, as with mortgages, the seller retains the deed and legal title to the property as security and collateral until the installment payments are completed. On the flip side, a land contract is the sale of a property, where the seller finances the deal. Tax advantages.

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