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Buying A Home

Found 32 blog entries about Buying A Home.

Need A Realtor Buy New Construction Home

I’m not going to tell you the Top 10 Reasons you need a realtor to buy a new home.

What I will do is explain how the sales process works from the builders perspective.

First an important distinction. Buying a new construction home bears little resemblance to purchasing an existing home beyond the fact there’s real estate involved. Not understanding the difference can cost you tens of thousands of dollars.

Who Does Your Realtor Really Represent?

When buying a new construction home in Idaho, the builder will be represented by a real estate agent 100% time (interesting isn’t). The Realtor has a fiduciary, moral and legal duty to represent their client. In this case the builder. That means getting the builder the best possible sales price and

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Real Estate Contract Killers You Need to Know About

Even after a real estate contract is signed, sealed and delivered the deal is far from over.

When buying a home or selling a home- there’s no such thing as a done deal until the transaction is funded and recorded with the county. As real estate agents, we’d love nothing more than to see clients dance their way to the closing table. The reality is that many real estate transactions hit the fan before close. Many times for reasons you might not have thought about.

Idaho is a single contract state. Unlike in some areas, the initial Purchase and Sale Agreement is the only contract that spells out the entire agreement. As a buyer, you are committing yourself before the seller has even seen your offer. As a seller, you can agree to the purchase price

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House Hacking Real Estate

Joe retired from a national technology company at the age of 44. Soon thereafter he spent a year traveling around the world. Europe, the Grand Caymans, Asia and South America.

See, when Joe was 22, he bought a fourplex. He lived in one of the units and rented out the other three. As part of his job, he was frequently transferred. Each time he moved to a new city he bought another fourplex, always keeping the last one and the previous ones he had purchased. By the time Joe was 44 he was a millionaire.

Before I tell you the amazing part, you should know Joe repaired ATMs for a living. He was in no way a jet-set executive. The most he made in any one year was $55,000, including overtime. So how did this average Joe become a millionaire real estate

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Buying a Foreclosed Home? Here’s What You Need to Know

Everything you know about buying a foreclosure is wrong…

Or is it? Perform a basic internet search and most of the information you will find is conflicting and shockingly outdated. Mostly written by people who make a living as writers, with no real experience dealing with actual Boise foreclosures for sale. A look at the facts and the real foreclosure market might surprise you, prepare yourself.

In most parts of the country, home prices seemingly increase by the month. Despite the fact that there are fewer available foreclosures today than there have been in the past few years, there is still very strong interest from buyers considering buying a foreclosure. With the potential to save some hard earned money, it probably doesn’t come as a

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Homeowners Associations Friend or Foe

Common now more than ever are homeowner associations. Just in Idaho there are more than 3,000 homeowners’ associations. If you’ve ever found yourself touring adjoining neighborhoods, but one maybe looks more spruced up and well cared for versus the other? Chances are there might be a homeowner association involved.

Ever wonder why in some communities most of the houses are similar colors? Most likely a homeowner association. When looking at home for sale- an HOA can make or break the deal. It’s important to know how these associations work and understand what you’re signing up for when you buy that new home.

What is a Homeowners Association

A homeowners association is just that. When a developer begins building a new community, they usually

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What Is a 1031 Exchange?

While a 1031 exchange (also called a like-kind exchange or a Starker) encompasses many different components, the short answer is that it is a way for people to buy and sell investment type properties in order to defer income tax on the financial gain of the property.

For many, this is known as the ultimate tax shelter when it comes to buying and selling real estate investments. While this is a beneficial vehicle for many, 1031 exchanges do not work for everyone.

An in-depth conversation with your tax advisor and attorney should be able to determine whether a 1031 exchange will work for you. There are many things to consider like your current tax profile and other financial transactions that you have taking place. In some

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Protect Yourself With Renters Insurance

Recently, I drove by a duplex in my area. One side had caught on fire and the damage was pretty substantial. Not only was the building a mess but all the tenants personal property was destroyed. Smoke damaged belongings were just piled up in the yard. When you see something like this it makes you think about two things. Whether or not everyone made it out OK and how horrible to have something like that happen.

Fires happen and other natural disasters happen, all the time. If you’re living in a rental be it a duplex, apartment or a single family home, you trust that something like this won’t happen but sometimes it does. If you’re a renter you need to protect yourself and your belongings, you need renters insurance.

Renters insurance is known

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So What Is an FHA Loan?

FHA stands for Federal Housing Administration. In simple terms, this is a loan program that’s popular with first-time homebuyers that is backed and insured by the federal government. Now it’s important to know that this isn’t who will make you the loan, your lender will do that, but this is an entity that oversees and helps folks get into new homes. Also worth noting – not all lenders are FHA qualified and not all FHA qualified lenders are the same when it comes to interest rate, fees, etc. Like anything else, always shop around to get the best deal.

What Are the Advantages of FHA Loans?

When it comes to an FHA loan- What’s in it for me? A much lower down payment! I don’t know about you but growing up I always thought

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Idaho First Time Home Buyer Programs

Reality Check: You’re Already Paying a Mortgage. Monthly rents have shot up throughout the area and now more than ever, folks realize that the amount of rent they’re paying every month could easily be paying an actual mortgage – for a home you own. There are many Idaho First Time Home Buyer Programs that can help you do just that.

National Programs & Grants

FHA

A significant portion of first time home buyers will utilize an FHA (Federal Housing Administration) loan. An Idaho FHA loan is a loan that is backed by the government and buyers are required to put down at least 3.5% of the loan amount in order to purchase a home. Let’s face it, 3.5% can add up. What most people don’t know is that there are Idaho first time home buyer programs out

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You are now an expert on how to buy a house – you went to open houses, put in offers and found the home of your dreams! Fast forward to the closing, the end of the road of your home buying experience. Now you’ve found yourself in a conference room- pen in hand, ready to sign away. While the closing home timeline varies for every closing, most likely in the next couple of hours, you will officially be a homeowner!

What is a Home Closing? In simple terms, a closing is where the home purchase is finalized and ownership of a property is transferred from seller to buyer and made official with the county.

Things to Expect During the Closing Process

Your lender will send all the mortgage paperwork to the title company- who acts like an impartial 3rd

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