Buyer Resources

Buyer Resources What is a home appraisal, and what happens if the appraisal comes in low? Understand why lenders order an appraisal A home appraisal is an independent opinion of a property’s value prepared by a qualified appraiser. According to NAR, lenders commonly require an appraisal to help determine whether the home’s value supports the proposed mortgage. The appraiser considers property characteristics, condition, and comparable sales. An appraisal is different from […]
Buyer Resources What is a title search, do I need title insurance, and why do they matter? Understand what a title search checks When you buy a home, you need confidence that the seller can transfer the ownership rights described in the contract. A title search examines public records for mortgages, liens, judgments, easements, and other matters that may affect those rights. According to NAR, the search helps identify ownership issues before […]
Buyer Resources What happens after my offer is accepted and before I get the keys? Follow the purchase agreement and its deadlines An accepted offer is an important milestone, but the purchase is not finished. Once the parties sign the agreement, the transaction enters the period before closing. The contract identifies key dates and any conditions that must be met, including financing, inspections, and appraisal requirements. You may also need […]
Buyer Resources How do I buy another home or relocate to a new area while selling the home I already own? Decide how the two moves will fit together Buying another home while selling your current property takes careful coordination. You may need proceeds from the sale for your next down payment, or you may be able to purchase before selling. Each option involves trade-offs. Selling first clarifies your available funds but can create a gap […]
Buyer Resources What should I consider when buying a property as an investment rather than solely as my primary residence? Define your investment goals before choosing a property Buying an investment property requires a different evaluation than buying a primary residence. A home for personal use may be chosen for comfort and lifestyle, while an investment needs to support a financial goal. That could mean generating rental income, building long-term equity, or improving a property […]
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