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Closing On a House? Here’s Your Checklist to Stay On Track

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When you’re buying your first home, few things are more exciting (or stressful!) than the lead-up to closing day. Negotiations and inspections may be nearly finished, but now there’s a laundry list of things to do, and even more to keep track of. Having a great real estate agent in your corner will be a big help for sure, but having your own checklist to refer to throughout the process can also offer clarity and peace of mind during an otherwise hectic time. That’s why we’ve prepared a comprehensive checklist for closing on a house for you to refer to during these final days before your new home is officially yours. For expert guidance, we’ve brought in Ryan Kain , a Detroit-based top agent, for his tips on keeping your cool for closing. Now, let’s go through this step-by-step! Source: (Laura BC / Burst) After your offer is accepted Once the seller has said “yes” to your purchase offer , the ball is back in your court and it’s time to… Submit your earnest money If earnest m...

How to Get a 203k Loan in 6 Steps (And What Else to Consider As a Buyer)

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Does the idea of buying a fixer-upper and quickly gaining thousands of dollars in equity by making minor cosmetic repairs appeal to you? If so, then the 203k loan may offer a way to finance your plans, but first, you’ll need to know both what this loan is and how to get a 203k loan.   The Section 203(k) Loan Program is a Federal Housing Administration (FHA) program that lets you finance both the purchase price of a home and the cost of repairs to the home with a single loan. It’s widely regarded as one of the best financing programs for people who want to buy, fix, and live in a home. “The 203(k) loan is one of the best products in real estate when it’s used as an effective tool,” says Eric Forney , an Indianapolis real estate agent who sells his clients’ listings an average of 41% faster than the typical agent in his market. In addition to 12 years of experience as a real estate agent, Forney has personal experience using a 203(k) loan to purchase and fix up his first home. ...

What is Modernist Architecture? Beyond Starchitects and Iconic Homes, What You Need to Know About Today’s Style

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Mention the term “modernist architecture,” and visions of flat roofs, sterile, white boxes of glass, and steel stereotypically come to mind. Since its origins in the early 20th century, people have praised and panned modernism as polarizing and seductive. At times revered and maligned, modern architecture is enjoying a resurgence thanks to a new generation of homeowners discovering the joys of streamlined styles and lifestyles plus the rise of architectural tourism showcasing modernist architectural gems. Legendary architect and product designer Michael Graves once said, “The future is rooted in the past because we are looking backward and forward.” At its core, modernism is this creative dance of using present-day technology and materials to build structures while looking to the past and the future. We’re taking a deep dive into the modernist architecture movement from its history and different interpretations to its genre-defining “ starchitects .” Source: (Denys Nevozhai / Un...

What’s the Catch with Rent to Own Homes? 7 Reasons to Beware of These Deals

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Updated August 31, 2021 Owning a home is many a renter’s dream. It’s a goal that can take years of scrimping and saving to squirrel away a down payment — not to mention the careful spending and meticulous bill-paying required to keep your credit score high. In the meantime, you’re still paying rent, maybe even more each month than you’d pay for a mortgage payment . But what if a portion of your rent were going toward purchasing your rental home at a later date? That’s exactly the dream that rent-to-own deals are selling, but what’s the catch with rent-to-own homes? Source: ( Shopify Partners /  Burst ) Rent-to-own basics: Crediting rent toward a future purchase Also known as a lease-purchase agreement, a rent-to-own contract is an agreement between the tenant and the homeowner stipulating that a portion of the monthly rent is credited toward the future purchase of the property. Then, when the lease ends — typically within 1 to 5 years — you’ve saved up a credit with the...