Putting a home up for sale is not as easy as simply putting a sign in the front yard. Before a Pennsylvania homeowner can do so, it is important to carefully consider what the selling price will be. This is where a residential real estate appraisal can prove to be an invaluable tool.
During the purchase of a home here in Pennsylvania or elsewhere, buyers are usually encouraged, if not required, to purchase title insurance. This insurance is designed to protect the homeowner from any title issues that may arise after a search is done and the residential real estate deal closes. However, if an issue does arise at some point in the future, that does not necessarily mean that the insurer will not attempt to deny or delay the claim.
Buying a house is one of the most expensive purchases most Philadelphia residents will ever make. For this reason, they need to make sure their purchase contracts include the right contingencies. The home inspection contingency in a residential real estate contract needs to outline just what happens if the inspector finds problems with the home.
Whether it is a first home purchase or it is an upgrade, buying a house in Pennsylvania is exciting. However, even if things seem on track, the time leading up to closing day can present some not-so-good surprises that can either prevent the closing or cause the soon-to-be owners to take a step back and reevaluate their decision.
There is a lot of talk in Pennsylvania and the rest of the United States regarding whether or not it is a better market for renting or buying. Most experts now recommend renting because it is cheaper. However, for those who can afford it, building equity may be better than paying someone else’s mortgage.
Short sales in Pennsylvania offer a great opportunity to obtain property at a fraction of their actual value. However, short sales do present some risks. For starters, Redfin, a real estate brokerage firm, reminds buyers that short sales are rarely short. Thus, one of the main cons of short sales is that buyers may need a few months' worth of patience when making an offer. It takes a long time for the sale to be finalized and all the paperwork to be processed. This is not a good option for people who may need to move soon.
Most people associate home inspections with buying a home. However, it's recommended that people selling their homes have an inspection conducted before listing the property. U.S. News & World Report offers a few reasons why you should have an inspection before trying to sell your home.
In early February of 2019, NBC Philadelphia announced that stolen homes through deed fraud was on the rise. In fact, reports say there was a 70 percent spike in the number of people in Philadelphia who alleged that they were victims of deed fraud. While this crime is certainly not unique to Pennsylvania, the high increase prompted a crackdown.
When people in Pennsylvania are preparing to purchase a home for the first time, they may be apprehensive to make any major decisions on their own. Often, these concerns stem from inexperience in transferring the title of such a significant investment or perhaps they honestly are unsure of where to begin. Being a bit familiarized with some general suggestions can be beneficial as people prepare for the exciting steps of becoming homebuyers.
While owning a home is a sign of success, being unable to keep up with mortgage payments can feel like you are failing. If your family's financial situation is different than when you first purchased your home, you have to make tough decisions in order to stay afloat. To help struggling homeowners, there are programs in Pennsylvania that can help prevent foreclosure.