Home Buying 101 Archive


What about appraised value and market value?

Monday, November 26th, 2007
A certified appraiser who is trained to provide the estimated value of a home determines its appraised value. The appraised value is based on comparable sales, the condition of the property, and several other factors. ...
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What is the difference between list price and sales price?

Monday, November 26th, 2007
The list price is a seller's advertised price, or asking price, for a home. It is a rough estimate of what the seller wants to complete a home sale.A seller can price high, low---which does not happen very often---or very close to what they hope to get. A good way ...
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Are there standard ways to determine how much a home is worth?

Monday, November 26th, 2007
Yes. A comparative market analysis and an appraisal are the two most common and reliable ways to determine a home's value. ...
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How do you determine how much a home is worth?

Monday, November 26th, 2007
The short answer: a home is ultimately worth what is paid for it. Everything else is really an estimate of value. Take, for example, a hot seller's market when demand for housing is high but the inventory of available homes for sale is low. During this time, homes can sell ...
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How does a lease option work?

Monday, November 26th, 2007
A landlord agrees to give a renter an exclusive option to purchase the property. The option price is usually determined at the outset, but not always, and the agreement states when the purchase should take place---whether, say, six months, or a year or two down the road. ...
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17 Tips for Making Your Country Place Safer

Monday, November 26th, 2007
By Curtis Seltzer ...
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What is a lease option?

Sunday, November 25th, 2007
It is an agreement between a renter and a landlord in which the renter signs a lease with an option to purchase the property. The option only binds the seller; the tenant has a choice to make a purchase or not. ...
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Are buyers protected against housing discrimination?

Sunday, November 25th, 2007
By law, real estate agents may not discriminate on the basis of race, color, religion, sex, disability, familial status, or national origin. They also cannot follow spoken or implied directives from the home seller to discriminate. If you suspect you have been discriminated against, a complaint may be filed with ...
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Why do I need an agent if I can find a home by myself on the Internet?

Sunday, November 25th, 2007
While more buyers now use the Internet to gain access to listings, or available properties for sale, it is still a good idea to use an agent. The agent brings value to the entire process: he or she is available to analyze data, answer questions, share their professional expertise, and ...
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Can I use an agent to purchase a newly built home?

Sunday, November 25th, 2007
Yes. In fact, some builders pay agents to find prospective buyers. But you also can use a buyer's agent to help negotiate the price and upgrades on a new home. An agent can be particularly valuable directing you to newly built developments that match your needs, as well as helping ...
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