Licensed in the
State of Texas
Direct Office: 512-328-4068
Toll Free: 1-800-323-0223
Direct Fax: 512-328-4069
Mobile: 512-426-4663
(dial 512-I-Am-Home)
Betty@BettyHood.com
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Betty Hood
Real Estate, LLC
3300 Bee Cave Road
Suite 650-204
Austin, TX 78746
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Lessons in Home Buying & Selling
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Buying a home is considered one of the most complicated and stressful financial transactions a consumer will ever make; and selling a home is equally straining. However, there are guidelines that both homebuyers and sellers can follow to make their deal as efficient as possible. First, homesellers should be realistic in setting the price by studying comparable home prices. At the same time, homebuyers should keep their offer simple, focusing on the sale price and closing cost liability.
The buyer can also ask the seller to assist in paying closing costs, which will not only provide some relief for the buyer but also make it easier to sell the home. Buyers must also remember that their original offer will not always be the actual price, and they should begin negotiating at about 90 percent of the asking price. In terms of resources, buyers should recognize the importance of their real estate agent; and they should also use the Internet to evaluate the local market, while relying on an agent or lender for the rest of the transaction.
Financing is also important, and homebuyers should start by obtaining a credit score. If they do not plan on living in the home for a long time, buyers should consider an adjustable-rate mortgage. They may also want to limit the size of their down payment and use the money in other areas.
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Don't Confuse an Appraisal With a Home Inspection
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The California Real Estate Inspection Association urges home buyers to undergo a professional home inspection in addition to obtaining an appraisal. The Department of Housing and Urban Development already mandates that home buyers who take advantage of HUD/FHA financing sign a form recognizing the importance of home inspections. The form emphasizes the differences between appraisals, which are designed for lenders; and inspections, which give buyers peace of mind that a house is in good condition.
A home inspection involves a thorough study of the structural, heating and cooling, plumbing, and electrical components to make sure that they are in good shape and operating efficiently. "A home inspection gives the buyer an impartial, physical evaluation of the overall condition of the home and identifies items that need to be repaired or replaced," explains CREIA President Al Virtue. CREIA also recommends that home buyers hire qualified and professionally trained inspectors who follow a specific code of ethics.
Licensed in the State of Texas
Betty Hood Real Estate, LLC
3300 Bee Cave Road, Suite 650-204, Austin, TX 78746
Direct Numbers:
Direct Office: 512-328-4068 / Toll Free: 1-800-323-0223 / Direct Fax: 512-328-4069
Mobile: 512-426-4663 - (dial 512-I-Am-Home)
Email: Betty@BettyHood.com
Site design and maintenance by:
Copyright 2000
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