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Keisha Hosea
877-534-7421
KHosea@KASIHomes.com

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What Is An Encroachment and What Happens When You Buy A Home That Encroaches on City Property?

By Keisha Hosea Leave a Comment

Encroachments occur when one party builds upon another parties land. With many homes that have fallen into foreclosures, many of these encroachments are being called out by cities. The cities are seeking to have the encroachments corrected by asking the owners to remove anything that is built upon city property. This could include backyards, patios, pools, spas, tennis courts, etc. Lately, I have seen all of these home improvements that have come under fire. In some cases, the cities have offered homeowners easements for a set time period such as a 15 year easement. Such easements generally state that the homeowners may keep the encroachments in use for 15 years and that once such period has expired, the homeowners must remove any and all encroachments.

When purchasing a home, it is important to obtain all disclosures regarding the home, including title reports, hazards reports and special addendums.

Filed Under: Buyer Tips Tagged With: buying a home

What Should I Expect At My Buyers Home Inspection?

By Keisha Hosea Leave a Comment

Once you get your offer on a home accepted, you will probably want to schedule a professional home inspection. Most home inspections are based on the square footage of the home but typically run between $200 to $300. Your real estate agent should typically be able to refer you to some reliable inspectors. When you call to make your appointment, they will typically ask you a few questions about the home. Therefore, it is very important to have this information available when you call to schedule the appointment. It is a good idea to ask your real estate agent to give you a copy of a flyer with the information on it. Your real estate agent will also need to confirm that all the utilities are on at the property. This is necessary so that the inspector can check items like the heating and cooling systems, plumbing, etc.

The inspection generally will take 2-3 hours so come prepared to get very acquainted with your new home. It is advisable that you bring chairs to sit on, snacks, magazines, your camera, a measuring tape so you can measure spaces for furniture placement, pen and paper for note taking and any family members or friends that you may want to take a look at the property. During this time, your real estate agent may also bring additional documents that require review and signatures.

Once your home inspector has completed the inspection, they will generally go over their findings with you. You will usually receive a written report that documents these findings and suggestions. Bear in mind that the suggestions made are to aid you in better understanding the current condition of the home and the type of maintenance and repairs that you may wish to consider. The home inspection is a great way to familiarize yourself with your new home.

Filed Under: Buyer Tips Tagged With: advice for Diamond Bar Home Buyers, buying a home, home buyer inspection

Should You Be Negotiating Or Simply Fact Finding Before The Buyer Actually Sees The Home?

By Keisha Hosea Leave a Comment

A seemingly simple question but one that seems to elude many real estate agents. Should You Be ‘Negotiating’ Or Simply ‘Fact Finding’ Before The Buyer Actually Sees The Home? In the world of real estate, these two skills are essential when it comes to writing an offer for a buyer. But real estate agents must understand that there is a difference between the two. ‘Fact Finding’ consists of asking questions regarding the listing or the home.

Fact Finding Questions Are Things Such As:

1. Is there a Home Owners Association? If so, how much is the Monthly Home Owners Association?

2. Do you currently have offers on the home?

3. When will you be presenting offers to the seller?

4. Is the home appropriate for FHA financing?

 

Negotiating is generally what occurs after the buyer knows that they intend to make an offer on the home. In the case of investors, some make an offer sight unseen. However, most buyers who plan to occupy the home will want to see the inside first.

Negotiating Questions Are Things Such As:

1. What types of terms is the seller looking for?

2. Is the seller firm on the price or is it negotiable?

3. Is the seller willing to contribute to buyers closing costs?

4. Is the seller willing to complete repairs on the home?

 

It is important to keep in mind that home buying is a process. There is little use in negotiating a home BEFORE knowing whether the buyer wants to actually purchase the home. Having a real estate agent on your side who understands the in’s and out’s of real estate can help you when you most need it.

Filed Under: Buyer Tips Tagged With: buying a home, Negotiating a Real Estate Purchase

How Do You Determine Whether To Buy A Home in Chino Hills or Rent?

By kasihomes Leave a Comment

Many people are wondering with today’s staggering economic downfall, whether they should buy a home or simply rent a home.  Forbes had an article, The Next Mortgage Crisis, that laid out some interesting points.
You should considering buying a home if:
1. you can afford to buy
2. you want to build equity in a home as a source of retirement security
3. you want to take advantage of the tax benefits of home ownership with mortgage interest and property tax deductions
You Should Consider Renting If:
1. you can’t afford to buy
2. you have not saved an emergency fund of at least 3-6 months worth of expenses
3. you do not qualify for a reasonable interest rate on a mortgage
4. your income is unstable
5. you like having the option of moving around frequently

Filed Under: Buyer Tips, Chino Hills CA Tagged With: advantages of buying a home, buying a home, chino hills home buyers, fontana home, home buyers in Inland Empire, renting vs. buying in San Bernardino County

Why Do We Have To Be “Cross-Qualified” By The Sellers Lender If We Are Already Pre-Approved With Our Own Lender?

By kasihomes Leave a Comment

“Cross- qualification” is when a lender examines assets and income of a borrower without doing a complete pre-qualification necessarily. Sometimes a seller will require that a buyer be “cross-qualified” with the lender of their choosing for several reasons:
1. To ensure that the borrower has indeed been pre-approved and can purchase for the amount specified
2. To ensure that in the event the buyers lender finds that they are unable to provide the loan, the sellers lender can complete the loan and thus save the sale of the home.We’ve encountered a pretty tumultuous Real Estate market in many parts of the Country recently and many people are just looking for any added assurances they can get. As a buyer, don’t despair if you are asked to get “cross-qualified.” It actually may even be a benefit to you when you least expect it.

Filed Under: Buyer Tips Tagged With: buying a home, cross qualification for home loans, financing a home purchase, home buyer advice, home buyer tips

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