When it comes to where mortgages are concerned, “escrow” and “escrow accounts” refer to two slightly different concepts. Escrow is the process by which a neutral third party mediates a real estate deal, holding money and property “in escrow” until the two sides agree that all the conditions are met for a sale to close. By contrast,…
For anyone buying or selling a home, the Multiple Listing Service (MLS) is a key resource that simplifies and organizes the process. But what exactly is the MLS, and how does it benefit both buyers and sellers? This blog will dive into the MLS, explaining what it is, how it works, and why it’s such…
In today’s competitive real estate market, buyers often face multiple-offer situations where a property receives numerous bids. In such scenarios, an escalation clause can be a powerful tool to help buyers stand out. But what exactly is an escalation clause, and how does it work? This blog will explain escalation clauses in real estate, when…
From searching for homes to picking up your new keys on closing day, buying a home is an exciting process. Many first-time homebuyers also have the benefit of receiving advice from family members or friends who’ve already gone through the process. While it is certainly good to hear a few different perspectives while you’re buying…
Investing in rental properties can be a lucrative and rewarding venture. Here are some key benefits to highlight in a blog about the advantages of investing in rental properties: Steady Cash Flow: Rental properties provide a consistent stream of income through monthly rental payments. This cash flow can help cover expenses, such as mortgage payments,…
Pandemic-related mortgage bailouts are ending, and foreclosures are now rising. Foreclosure stats jumped 32% in the third quarter of this year from the second quarter and were 67% higher than the third quarter of 2020. With foreclosures flooding the market, it’s “standing room only” at real estate auction sales these days. Those properties are selling…
Preparing to apply for a home loan involves several steps to ensure you present a strong application, get the best interest rates, and improve your chances of approval. Here’s a guide to help you get ready: 1. Check and Improve Your Credit Score Obtain Your Credit Report: Get a free copy of your credit report…
Protecting a vacant home is crucial to prevent vandalism, break-ins, and potential damage from maintenance issues. Here are some effective strategies: 1. Secure the Property Locks and Reinforcements: Ensure all doors and windows have high-quality locks. Consider installing deadbolts and reinforcing sliding doors with rods or tracks. Alarm System: Install a security alarm system with…
Choosing the right neighborhood is a crucial part of finding the ideal home. To determine if a neighborhood is right for you, consider the following factors that align with your lifestyle, preferences, and needs: 1. Safety Research Crime Statistics: Check online resources or local police department websites for crime rates. Tools like NeighborhoodScout or SpotCrime…
Final walkthroughs are not the same as home inspections – this is not the time for negotiations with the seller to do repairs or add contingencies. The purpose of a final walkthrough is to make sure the property you are purchasing is in the condition in which you agreed to buy it. It is a…