One of the most asked questions is 'When can i take possession or when can i occupy the property after i close my deal?"Typically most buyers take occupancy upon closing the deal. If you are getting a mortgage, most mortgages require you to move in immediately. Occupancy is something you can negotiate at the time you make your offer, the seller can ask to stay for a certain amount of time after closing however you can also counter offer as a buyer with taking immediate occupancy after closing. As a buyer once you close you own it, allowing the seller to stay makes your responsible for any damages when they are living there or are moving out. If they do not move out, you are responsible to evict them.Please feel free to add any comments you have on occupancy from an agents view, buyers v... 06/26/2010

Whether you are a buyer, a future buyer or a buyers agent, you need to know the changes in policy that have been adopted. A generic pre-quail letter is not worth the paper it is written on, it basically is a quick look at your credit report and taking your word how much you make. Most other banks have already put this policy into affect by having you be prequailified with their own lending department or have in pre apprival. For Fannie Mae properties and alot of other bank owned properties pre-approval letters must also now contain that the reviewed and the information is acceptable for:Tax returnsPaystub and w-2Full credit reportVerified income and employemntReviewed bank statements and the buyer has funds to closeSo in order to avoid delays and to make sure your offer does not get re... 06/24/2010

One of the most common complaints with buying a reo (bank owned property) is that they do not close on time.did you know there are things you can do to improve your odds to close on time as well as reduce yoru chances of being delayed.BANKS MANDATE YOU USE THEIR CLOSING COMPANYAlmost all banks will counter your offer with the seller choosing the title company, if you are getting a mortgage, your mortgage company will mandate who you use to close the sale. Often time you can counter the bank with you selecting your title company which will work with the sellers attorney, often time the sellers attorney will furnish the title report to the buyers attorney. GET CLOSING DOCS TO THE BANK WITHIN 72 HOURS OF CLOSINGAs far as closing, some banks are better than others about meeting the dates. T... 06/24/2010

NEW ITEMS TO NOTE WHEN PURCHASING A HOMEStarting June 1 FNMA is requiring your credit report be pulled just before you close. Other banks are now following suit. Once you get prequailified, you find the house of your dreams and then make formal application for yoru loan, you should note that the bank will pull your credit again just before closing to make sure your credit has not changed. While buying a house you should refrain from buying anything on credit, applying for a credit card, buying a new car, boat or expensive jewelery. you should not quit your job or make any changes to your financial situation or risk having your loan pulled and not being able to buy the house of yoru dreams.   Now as some of you say this is common sense, why are you writing this, becuase it is not common ... 06/23/2010

One of the most asked questions in short sales is why wasn't thiss offer accepted and why did it take so long. First there is no law that states tha bank has to complete a short sale, they only lose money and make it as hard as possible. While it may be on purpose or may not be, the fact is, it is not easy. THEY WANT ME TO PAY MORE UPON GETTING APPROVALOne of the largest problems is when the bank does give an answer, there is not enough money to pay the mortgage off, taxes and fees associated with teh short sale. The bank is asking the seller to pay, or the buyer to pay or the agents to pay this difference. To avoid this problem, When the listing agent or negotiator is preparing the net sheet, they need to factor in future costs of taxes, water, sewer charges or hoa fees up to 6 months ... 06/23/2010

There is help and there are opportunities to avoid foreclosure. It starts with you ' The home Owner" though. There is no quick fix and no magic formula however there is faith and persistance.First thing is do not be scammed, do not sign your deed over to anyone, do not pay anyone with a boatload of promises of quick results and big promises, chances are they are not realistic or true. Real and genuine companies do not charge anything upfront.If you find yourself behind becuae of a high interest rate, you lost your job, illness or divorce. You need to take the first step for assistance. What is available to you will depend on whether you have the ability to make any sort of payment or have no ability to pay anything.If you have the ability to pay then more likely you will want a loan mod... 06/22/2010

If you owe more than your house is worth, if you are behind in your payments or not, there is help for you. I am sure you have heard the term althoug most people do not know what a 'Short Sale" is or how it works,Simply put a short sale is where the bank reduces what you owe to allow you to sell your house. A shiort sale can save your credit and will allow you to recover financially must faster than letting your house be foreclosed on face the much worse credit rating of a foreclsoure.The process of a short sale goes as well as the person you have handling it is experienced with short sales. The truth is all agents are not expereinced in short sales, hearing about them, knowing about them or taking a class on them will not give you expereince. You want someone who has listed and has suc... 06/22/2010

If you are looking to rent to own a home, here are soem tips to get you started.It is a good idea as the first step, to get prequailified. Meet with a local and trusted bank or mrotgage company. Stay away from internet lenders. You need to find out how long it will take you to get a mortgage so you know how long of a lease your need. As well as what you will need to do to be quailified by the time that lease is up. You can get prequailified at no cost at most truste dlenders.Then you need to know what price range you will be able to purchase in. you do not want to lease a home out of your price range as you may never be able to purchase it. You may not have the resources to find teh properties that are not being offered as lease purchase already. Your next step should be to work with a ... 06/15/2010

NORTH MANCHESTER NH COMPLETELY REDONE HOME   IF YOU ARE LOOKING FOR A HOME IN THE DESIRED NORTH END OF MANCHESTER NH, THIS ONE MAY BE FOR YOU.... Residential4005124 Active 336 Sagamore StreetManchester, New Hampshire  03104    ()   (7) L$277,777                                 Rooms:        8  Bedrooms: 3  Bathrooms 1 1/2        Year Built:        1970 ,        Tax Year:        2009 ,        Lot Acre:        .21 ,        Total Fin SqFt:        2,060        DETAILS:           No        # of Stories:        2  ,        Style:        Raised Ranch , Split Entry                                                             Public Rems:        House was completely redone within the last year. Newly refinsihed hardwood floors throughout. Family Room with Fireplace. New roof, deck, fenced in rear... 06/14/2010

IF YOU ARE LOOKING FOR A HOME IN THE DESIRED SOUTH END OF MANCHESTER NH, THIS ONE MAY BE FOR YOU.... Residential4004906 Active 53 Gordon StreetManchester, New Hampshire  03109    ()   (2) L$168,900                   Zoning:        res        Rooms:        5 , Bedrooms:        3,                  Total Baths:        1 , Total Fin SqFt:        864                      Year Built:        1947        :                Full:        1        Taxes TBD:        No        3/4 Baths:        0        Tax Year:        2009        1/2 Baths:        Lot Acre:        .19        Lot SqFt:        8,276 ,                 Taxes$ 3,168.00DETAILS:           Apx Fin Above Grd:        864 ,                 Style:        Ranch                                                    Public Rems:        OPPORTUNITY A... 06/14/2010

I know you Realtors know these, however this could be good to print and give to your clients Real Estate Glossary    Acceptance:  the date when both parties, seller and buyer, have agreed to and completed signing and/or initialing the contract.   Adjustable Rate Mortgage:  a mortgage that permits the lender to adjust the mortgage's interest rate periodically on the basis of changes in a specified index. Interest rates may move up or down, as market conditions change.   Amortized Loan:  a loan that is paid in equal installments during its term.   Appraisal:  an estimate of real estate value, usually issued to standards of FHA, VA and FHMA.  Recent comparable sales in the neighborhood is the most important factor in determining value   Appreciation:  an increase in the value of a property... 06/12/2010

Ten Signs It's Time to Sell Your Home   •1.      The kids have all graduated from college.  You and your husband finally have time to yourselves...then they move back home! •2.      You have three spare rooms in a four bedroom house. •3.      You have to shuffle your cars each morning to leave for work. •4.      You spend more time driving to work than you do with your family. •5.      You spend more money each month for storage than you do for your mortgage. •6.      Your neighbor found a loophole in the homeowner's association rules and is raising donkeys. •7.      You keep hearing faint voices telling you to "get out" and they're getting louder. •8.      Grandpa Jed just struck oil while hunting in your back yard. •9.      The dog's house doubles as a guest room. •10.  You have to t... 06/11/2010

Renting vs. Owning   Although some renters believe that renting is "maintenance free," they are actually paying for maintenance in their rent - whether they need it or not.  Renting offers you no equity, no tax benefit, and no protection against regular rent increases.  If you're paying rent, you're really just paying someone else's mortgage.  Let's compare.*   Rent          vs.            Own Monthly Payment $1,000 Monthly Payment $   855 Insurance $     30 Insurance $     50 Taxes $       0 Taxes $   260     MIP Insurance $     45 Total Payment $1,030                                      Total Payment $1,210         Savings Interest Deduction $       0 Interest Deduction $ 175 Tax Deduction $       0 Tax Deduction $   75     After Tax   Net Monthly Payment $1,030                      ... 06/11/2010

If you have been throught the home buying process, then you are most likely familiar with this, howver this is good for the first time home buyer. Keep in mind the money that you will need up front and what you should have set aside before looking for a home. When you are looking for a property to purchase, expect to come up with earnest money (Deposit) when submitting an offer on the house that you want. It's pretty standard or  customary to sign a purchase and sale agreement and include a deposit of earnest money to show good faith that you are going to comply with your agreement to buy the property if the offer is accepted. This shows that you are serious about purchasing the property and the larger the amount, the more serious you look. Keep in mind, the depsosit money will be held ... 06/04/2010

First off, I am not an accountant or tax advisor and these are just a few things that you can look into and talk to your accountant or tax advisore about. If you're a homeowner, it's always a good idea to make sure you haven't missed any tax deductions. You may not be able to take all of these deductions, so please check with your tax advisor.Mortgage InterestDid you know that mortgage interest is tax-deductible?  You're allowed to deduct the interest on a loan secured by your first or second home. You may be somewhat limited if all mortgages on your home total either more than the fair market value of your home, or more than $1 million ($500,000 if you're married and filing separately from your spouse); or if your home equity loans total more than $100,000 ($50,000 if you're married an... 06/02/2010

Many first time home buyers would have no problem paying mortgage payments, and could keep up the maintenance and taxes on a home.  The biggest problem facing them is having enough money to make a down payment.  There are governmental agencies and organizations that are aware of this, and are willing to help in time of need.  This article will discuss these organizations and how they can benefit the first time home buyer. Some background information is called for here.  Down payment assistance programs are a way for home buyers to be able to get into their prospective home without a large down payment.  The seller of the home will assist the buyer with closing costs through giving a portion of their proceeds from the sale to the buyer at closing time. Because the seller is not allowed t... 06/01/2010

Moving is such an exciting time as you look forward to acquainting yourself with your new home. But along with the excitement comes the long list of things to do. You need to get boxes, pack items, decide if you need help, clean the house, etc. The list goes on and on until you feel overwhelmed.There are many steps that can help make the moving process happen seamlessly. One way to eliminate stress is to hire a moving company. Moving companies provide a variety of services and can save you a lot of time and frustration. Here are some pre-move steps to consider:Inventory: Go from room to room in your home and make a list of all the things that you will be moving. Taking an inventory of your processions will help you stay organized. This will also help when you're ready to get a quote fro... 06/01/2010

Don't let the slow market get you down. Whether you're a home seller looking for offers, or a homebuyer facing stricter loan requirements, rev up your real estate potential with these helpful pointers from FrontDoor.com. FOR SELLERS: Give your house a makeover that adds value and keeps it up with the Joneses'. That doesn't mean you should run out and install Italian marble. But if hardwood floors are the norm in your neighborhood, replace the carpet. 10 ways to increase the value of your home Use the secrets of staging experts, or hire one. Staging can be as easy as a fresh coat of paint, new cabinet hardware and strategically-placed lighting. Think of it as a creative, inexpensive facelift for your home.How to dress your house for sale success Find out what's wrong with the house and g... 06/01/2010

One of the most unfortanate parts of this economy is tenants who are paying their rent and their landlords are not using the money to pay the mortgage on the property. The property then goes into foreclosure and soon after the tenants are served with eviction notices.As a tenant you do have some rights, Each state as individual laws regarding tenant law and you should always check those laws for your rights. However in most cases the bank will seek to evict you eventually after the foreclosure. Now this will also be the same type of procedure with owner occupied homes that have been foreclosed. The oocupants are usually offered and if not, should also ask for cash for keys or a relocation agreement to assist you with moving out of the house.The bank then usually has their agent or manag... 05/31/2010

One of the biggest myths in foreclosures is "getting a deal on a preforeclosure". Let me tell you why, most houses are not even for sale, most home owners owe more than the house is worth in todays market and unfortanately if in a preforeclsoure situation, there is not enough time for them to complete a short sale. One of the most important things when buying a home is to have a willing seller, with most preforeclsoures, the homeowners are being forced from their homes, they have tried everything to save their home to no avail or have all but given up. Knocking on the door of one of these homes with a home owner in this situation is not always pleasant, They are not going to invest their time, what resources they have left or their emotions for someone else to get a deal on their home. ... 05/31/2010