Monday, January 20, 2020 / by Dixie Simon
What is the difference and why does it matter to the Seller?
Why is this such a BIG DEAL?
Much Time can be wasted and great heartache can insue if you do not have your financial affairs in order. If you fall in love with your dream house and are not pre-approved, in most cases within the Spokane market and surrounding areas, your offer will go straight to the bottom of the pile. Without proof that you are eligible for a loan or if you are wanting to pay cash but are not willing to provide evidence of accessible funds--Talk is cheap!
So what is the difference between prequalification and pre-approval?
There are similarities but they are NOT the same. So, what does it mean to get pre-approved vs. getting pre-qualified for a mortgage, and what’s the difference between the two?
Things that are similar:
Mortgage pre-approval and mortgage pre-qualification have the same benefits for anyone considering purchasing a home with a mortgage:
Both help estimate the ...
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Thursday, January 16, 2020 / by Ariadne Gold
If you’re buying a home, you’ve probably had multiple people (including your agent) tell you to get a home inspection. But why is that important? You might think, “the furnace and water heater are new, the roof is only 5 years old; do I really need an inspection?” The short answer is yes, you do. Here’s why!
A home inspector isn’t going to only look at the big things, like the furnace and the roof. They will look for anything and everything that should be fixed! They will also look at things like how much insulation is in the attic, and whether it needs more. They will look at the foundation, and if it seems like it may have some problems, they will suggest that a foundation expert check it. They check all the outlets to make sure that they work, and that the bathroom and kitchen outlets are GFCI. They will look at the condition of the siding on the home, along with the windows.
I’ll give ...
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Thursday, January 16, 2020 / by Kylene Emery
If you’ve only ever rented before, the necessity of a home warranty may be unknown to you. As a renter, you are used to a landlord who will fix any issues you run into - but that all changes when you become a homeowner. Now, when a water heater breaks or the fridge starts to leak on the new floors in the kitchen, there is no landlord to call. So what do you do now? You may have a friend or family member who can handle the smaller fixes, but when it comes to the big issues that will end up emptying your pockets, a home warranty can save the day.
A home warranty is similar to insurance, as it covers some or all of the costs of replacements or repairs when a system in your home malfunctions or stops working altogether. They range in annual costs of $300-$600 and remove the middle man in the fixing process. Instead of finding someone to fix an issue, you will directly contact your warranty provider and they will set up the repair or replacement with the appropriate vendors. Your pre ...
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Monday, January 13, 2020 / by Ariadne Gold
If you’re thinking of buying a home, you may be thinking specifically about single family homes. Depending on where you’re thinking of purchasing, you may not even be thinking about condos. However, condos can be a great idea for some people!
1. What is a Condo?
So, what is a condo? Condos are homes that are owned by individual people, but are physically connected. These can be apartment style building or townhomes (where the units are side by side.) Buying a condo involves a few more steps than buying a single family home.
2. What is an HOA?
The first thing to know is that all condos have HOAs. HOA stands for Homeowners association. The HOA handles the common areas, rules, budgeting, and insurance for the community. All owners are required to pay HOA fees, which pay for some utilities, insurance, and common area maintenance. Some condos will ...
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Wednesday, January 8, 2020 / by Ariadne Gold
If you’re buying a home in the Spokane area, you’re probably expecting the appliances (fridge, dishwasher, stove, etc.) to stay with the home. But do you know what to ask for to make sure that they do? Along with that, do you know what is considered personal property and what is not?
The difference between what is considered personal property and what’s not is whether it is a “fixture” of the home. So, the built-in bookshelf? Part of the property (attached). The stove? Personal property. The list agent will generally list which items stay with the home, but its still important to make a list of which items are important to you, and ask for them in the offer. The Spokane purchase and sale contract has a place on the first page to check off normal items to stay with the property (stove, fridge, dishwasher, washer, dryer, etc.) along with a spot to add additional items (such as a stand alone freezer.) ...
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