1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information. 2. How often are properties reassessed, and when was the last reassessment done? In general, taxes jump most significantly when [...]

1. Know about exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately. 2. Know about dollar limitations on claims. Even if you are covered for a risk, there may be a limit on how much the insurer will [...]

    Moving to a new home can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you’ve covered all the bases.1. Plan ahead by organizing and budgeting. Develop a master “to do” list so you won’t forget something critical on moving day, and create an estimate [...]

If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist. 1. Are there enough jacks in every room for cable TV and high-speed Internet hookups? 2. Are there ample telephone extensions or jacks? 3. Is the home pre-wired for home theater or multiroom audio and video? Does [...]

    To attract buyers, sellers must up the ante to convince them that their property offers what many want most — top value for dollar expended. Here are eight fast fixes:   1. Buff up curb appeal. You’ve heard it before, but it’s critical to get buyers to want to look on the inside. Be objective. View listings [...]

The way things used to work aren’t how things work nowadays. Congress scrapped the old rule that required you to reinvest the proceeds of the sale of your home in a new, more-expensive property in order to avoid taxes. The new rules don’t turn on whether you reinvest or not.    Instead, the new rules require that [...]

The first step in getting yourself in financial shape to buy a home is to know exactly how much money comes in and how much goes out. Use this worksheet to list your income and expenses below.   INCOME   Take Home Pay (all family members)   Child Support/Alimony   Pension/Social Security   Disability/Other Insurance   Interest/Dividends   Other   Total Income     EXPENSES   Rent/Mortgage (include taxes, [...]

Make sure your home is priced right. Many real estate professionals think price, price, price is just as important as location, location, location. Take advantage of the lack of competition and work with your real estate agent to make sure your home makes a great first impression. Go the extra mile to make sure exterior [...]

Consumers are often baffled by the home appraisal process. They may feel their home is worth a certain dollar amount, and therefore, the appraised value doesn’t make sense to them. It is important to know that appraisal guidelines are dictated by the lenders. In many states, the lenders must disclose the purpose of the appraisal, [...]

    Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for. 1. Check for and correct errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.   2. Pay down [...]