Blog – Page 720 of 892 – Fred Gruber - First Rate Financial Group

09

Jun

Home Seller Tips

4 Negotiation Tips for Home Sellers

4 Negotiation Tips for Home Sellers When you’ve already placed your home on the market, it can seem like the stress is over once you’ve received the offer, but the buck doesn’t stop there. Instead of being caught off guard when the time comes to negotiate, consider these tips that will assist in making the sale.

Rely On Your Agent

Once you’re at the point where you’ve received an offer and are unsure as to whether you should take it, it’s a good idea to sit down and discuss the options with your agent. Because a real estate professional will have plenty of experience with this part of the process, they’ll be able to guide you through what’s an acceptable offer and what you should pass on.

Sell Until It’s Signed

It’s very exciting to receive an offer on your home, but a verbal offer is not set in stone so don’t forget about other interested parties that are still in the mix. Since a buyer’s purchase of your home won’t be official until they’ve signed a contract and put down a deposit, make sure you to keep in touch with other potential buyers that might have an offer if your best option backs out.

It’s Not Just About Money

It’s great to receive the asking price you’re looking for, but there are many things to consider with the sale of your home. In the event that your home inspection has come up with a few maintenance flaws, you may need to adjust the price for your buyer. As well, it’s possible your buyer may not be ready to move in when you’re ready to move out, so be sure to consider any issue that may impact the final sale.

Don’t Hold On To Your Price

There are no set rules when it comes to price, but if you haven’t received any offers and your house has been on the market for more than 60 days, there’s a good chance it’s time to sit down with your agent. While it’s great to know all of the negotiation rules, if your price is set to high for the market, you’re not going to have the opportunity to get to the table.

There are plenty of negotiation strategies to consider when it comes to selling your home, but staying in the game and trusting your agent can go a long way towards a successful sale. If you’re planning on putting your home on the market, contact your local mortgage professional for more information.

08

Jun

By support

Home Mortgage Tips

Refinancing to Pay for Renovations? Consider the VA’s Energy Efficient Mortgage Program

Refinancing to Pay for Renovations? Consider the VA's Energy Efficient Mortgage Program Making renovations that are energy efficient is not just a great way to reduce energy output, but it’s also an effective way of decreasing monthly utility costs. It serves as a one-time investment that will save money in the long run.

However, renovations are costly and not everybody has the extra finances required to make energy efficient changes. This is where the VA’s energy efficient mortgage (or EEM) program comes into play.

The program is designed to allow veterans to apply for a new mortgage or refinance an existing one with extra funds to renovate the home to be up to energy efficient standards.

The Three Tiers Under The VA’s Energy Efficient Mortgage Program

The VA has three tiers for the cost of renovations to be done under the EEM program. The lowest, and easiest to be accepted for, is for improvements that will total under $3,000. A list of costs or a contractor’s quote may be required in the application process.

The second tier is for renovations that will cost between $3,001 and $6,000. This will require the homeowner or homebuyer to get a Home Energy Rating System report to detail how efficient a home is currently and what can be done to decrease its HERS rating.

The final tier is for any improvements to the home that will cost over $6,000. This is the most difficult tier to receive acceptance for as both the Department of Veterans Affairs and the private lender will need to approve the renovations.

Types Of Improvements Under The EEM Program

The program covers a variety of renovations for the home. These include: new insulation to walls, floors and ceilings, solar powered heating and cooling systems, thermal doors, thermal windows and new caulking and weather stripping.

There are also items that will not be covered by the program, including new roofing, vinyl siding and air conditioning units.

Using The EEM Program To Receive A Larger Loan

Any veteran or currently active military member looking to buy a brand new home can still benefit greatly from the energy efficient mortgage program. If a new home undergoes a HERS report and passes as being energy efficient, this can be applied to a VA mortgage to receive as much as $6,000 extra on the loan.

Speak with your local mortgage professional to go into more detail on the intricacies of refinancing under the EEM program and whether or not your home will qualify.

07

Jun

By support

Home Mortgage Tips

How Technology Is Creating an Easier Mortgage Approval Process

How Technology Is Creating an Easier Mortgage Approval Process From saving up for a down payment to sussing out the ideal lender, there are so many things involved in purchasing a home that can make it seem like a rather complicated undertaking. However, like a lot of things in our lives, technology has streamlined the process in recent years. If you’re currently searching for a home on the market, here are some new technological advancements that may make buying a little easier for you.

The Smart Phone Advantage

The paperwork and requirements associated with a mortgage may not have changed much in recent years, but smart phones have provided us with the instant ability to see all the necessary documents from anywhere. While there was once a time it required a lot of time in front of a computer, smart phones have enabled people to fill in, review and reply to documents on the go, which makes for a much more efficient – and mobile – process.

The Implementation Of The E-Signature

It may seem like something that has been around for a while, but up until recently an approving signature on a document had to be provided in person. With all the mortgage documents that are needed to get the ball rolling, this type of approval took up a lot of extra time. Nowadays, instead of having to rush out to sign a paper, our mobility and legal laws enable anyone applying for a mortgage to be able to provide an e-signature, which means there is no waiting around on the backend.

Consult Your Local App

Almost everything has an app these days, and the mortgage process is no different. While there is still a lot of paper and information required in order to get approved, the growing availability of mortgage apps enables you to instantly determine how much your monthly payments will be and what the real cost of your home is when it’s all added up. Instead of the guesswork, these apps can help you answer the question of whether or not a home is the right price.

The mobility and ubiquitous nature of today’s technology has made a lot of things much easier, and the mortgage process is no exception. From apps that can better manage your mortgage to the use of e-signatures, there’s no reason getting a mortgage loan has to be rife with stress. If you’re looking into buying a home, you may want to contact one of our mortgage professionals for more information.