06
Jun
By Barbara Bodnar
Real Estate , ,

When Buying Land to Build a New Home, Don’t Forget These Important Factors

Buying land for a new home is a significant investment, so take your time, do your research, and make an informed decision. It's essential to do your due diligence and research before buying land to build a new home. Here are some important things you shouldn't forget: Determine your budget: Before you start your search, it's important to have a clear idea of your budget. This will help you narrow down your search to properties that are within your price range. Choose a location: Consider the location where you would like to build your new home. Look for areas that…
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01
Jun
By Barbara Bodnar
Real Estate , ,

Crafting a Counter-offer That Doesn’t Scare Away a Potential Home Buyer

Crafting a counter-offer that doesn't scare away a potential home buyer can be tricky. Here are five tips to help you navigate the negotiation process while keeping the buyer interested: Keep emotions in check: Avoid letting your emotions drive the conversation and try to remain objective throughout the negotiation process. Keep in mind that the buyer is also looking for a fair deal, and it's important to approach negotiations with a collaborative attitude. Understand the buyer's needs: Understanding the buyer's needs and motivations can help you craft a counter-offer that meets their expectations. For example, if the buyer is seeking…
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31
May
By Barbara Bodnar
Real Estate , ,

Mortgage Approval With An Unconventional Job – How Does It Work?

It is unlikely that an unconventional job will hurt your mortgage approval, as long as you can demonstrate a consistent and stable income stream that meets the lender's requirements. Lenders are primarily concerned with your ability to repay the mortgage, and they will evaluate your income and employment history to determine whether you are a suitable candidate for a loan. It's also worth noting that the type of property you are seeking to purchase, as well as your credit history, debt-to-income ratio, and other financial factors, will all play a role in the lender's decision. So while an unconventional job…
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25
May
By Barbara Bodnar
Real Estate , ,

Should You Help Your Kids Pay for Their Mortgage?

Whether or not to help your kids pay for their mortgage is a personal decision that depends on your financial situation, your relationship with your children, and your beliefs about financial independence. It's important to evaluate your own financial situation before deciding whether to help your kids pay for their mortgage. Make sure that you can afford to provide financial assistance without jeopardizing your own financial security. Your relationship with your children can also be a factor in your decision. If you have a close relationship with your children and want to help them achieve their financial goals, then providing…
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24
May
By Barbara Bodnar
Real Estate ,

What is a Bridge Loan and How Does it Work?

A bridge loan, also known as interim financing, is a short-term loan used to provide temporary financing until a borrower secures long-term financing or sells an asset. Bridge loans are commonly used in real estate transactions, such as when a buyer needs to close on a new home before selling their current home. Bridge loans are typically secured by the borrower's current property, which serves as collateral. The amount of the loan is determined by the equity in the borrower's property and the value of the property they are purchasing. The loan is intended to bridge the gap between the…
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