4 Questions To Ask Before Buying A Home Part - II Posted by brokerleonardfields on May 30th cheap nike air max shoes , 2018
Whether you’re a first-time homebuyer or a seasoned real estate investor, buying a home is a an exciting process. However, there’s also a lot to consider when you decide to buy. So before you begin your search for the perfect property, here are four questions you should ask yourself.
What do I want?
Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops cheap nike air max online , there are many different options on the market and it’s important to choose the type that best fits your needs. Figuring out the town or neighborhood you want to live in is equally important. While a property might have all of the amenities you’re looking for, factors like crime rate and proximity to highways can impact the overall home-owning experience. A good idea is to list out and prioritize your needs (e.g. large backyard, great school system) before you begin your search.
What can I afford?
The rule of thumb is that you should never spend more than 30% of your monthly income on a mortgage payment. An alternate rule states that you can afford to buy a property that runs about two-and-a-half times your annual salary. For a more tailored look at what you can afford, use an online mortgage calculator to see what your monthly mortgage payments would be if you bought a home today.
Am I financially prepared?
A few months before you start searching for a home cheap nike air max free shipping , review your credit history and make sure it is in good standing. Get copies of your credit report, ensure that it’s accurate, and fix any issues you discover. It’s likely that you’ll also want to get pre-approved for a home loan, which will put you in a better position to make a serious offer once you find the right property. Pre-approval from a lender is based on your credit history cheap nike air max ireland , debt, and income.
How do I make the best bid possible?
Do your research! Your opening bid should be based on the sales trends of similar homes in the area. So before making your opening bid, get online and review the selling prices of comparable properties. If these properties sold for less than the current asking price of the home you’re looking at, you can feel comfortable make a bid that’s slightly lower than what the seller is asking.
Leonard Fields is a seasoned real estate professional with more than Twenty Five Years in Real Estate. He has assisted clients in selling and buying bank owned-properties cheap nike air max wholesale , short sales and standard sales. His background includes residential construction & remodeling, construction inspection, valuation and financing residential real estate. He specialize in funding fix & flip projects, in-fill development projects and small commercial project with private money.
Starting afresh when you are at the end of your financial tether starts with making sure you file for Bankruptcy Correctly. In the Jacksonville area cheap nike air max trainers , a Jacksonville Bankruptcy Lawyer can help you get back on your feet when circumstances beyond your control like an illness or the loss of a job in this tough economy leads to a point where you are faced with declaring bankruptcy.
If you are at such a point, where you realize that your monthly payments are more than your income and you find yourself behind on credit card, or utility payments, and you have seen a credit counselor cheap nike air max , it may be time to consider bankruptcy. You have to file bankruptcy in a federal bankruptcy court and pay Filing fees which are several hundred dollars, and additional attorney fees.
Whenever you file bankruptcy you take a massive hit on your credit rating and it is important to ensure that you take the correct decisions from this point on to ensure that you are able to rebound financially. The first step is consulting a qualified Jacksonville bankruptcy attorney to help you work out the nuances and long term effects of bankruptcy to decide which type of Bankruptcy to file; Chapter 13 or Chapter 7 which are the two types of personal bankruptcy. Chapter 13 is for people with a steady income, where the court approves a repayment plan during the following three to five years, and allows you to keep your property like a mortgaged house or a car. Once you make all the payments under the new plan you receive a discharge of your debt. Chapter 7 is a straight forward bankruptcy with the liquidation of most of your assets. Automobiles cheap air max mens , work related tools and basic household furnishings may be exempt. To file for Chapter 7 you need to pass a means test to prove that your monthly income does not exceed a certain state prescribed amount. Even after filing personal bankruptcy you are usually responsible for child support, alimony, fines, taxes cheap air max womens , and some student loan obligations.
If you live in the Jacksonville area then a good Jacksonville Bankruptcy attorney like a trustworthy friend will help you decide the best course of action for you to undertake and once you have found the best way forward, it is time to focus on the future and to build up your credit once again. The best way to go about doing this is by ensuring that you are able to pay off each bill, even the smallest one, every month comfortably. Late fees and interest are usually the bigger problem than the actual expense incurred. Another good way to build credit back up is to get a secured credit card and pay it fully each month.
Saratremellaw - About Author: We are professional bankruptcy attorneys in Jacksonville FL and are recognized for our large handling of bankruptcy and social security disability cases. For more information visit
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