Home Buyer Tips Archives - Page 74 of 76

Don't Be That Guy or Gal: 3 Easy Ways to Ruin Your Relationship with Your Real Estate Agent Are you thinking about buying or selling a home? If you don’t know a real estate agent or have a referral to one, you may end up working with someone unfamiliar who you will need to build a relationship with. Of course, as with any relationship there’s always a chance that things can go sour.

In today’s blog post we’ll share three easy ways that you can ruin the trust and rapport that you’ve built with your real estate agent.

#1: Lie or Embellish the Facts

When you ask a real estate agent to represent you in the home buying or selling process they’re going to need accurate information to help you make the best decisions. Lying or embellishing the facts can cause significant issues and should obviously be avoided.

For example, if your agent asks you how much you can afford for your new home, give them an accurate figure based on your mortgage pre-approval, your income and your current financial situation. If you’re selling your home and your real estate agent asks you about the home’s maintenance history, be honest and don’t try to cover anything up.

#2: Cheat on Them with Another Agent

Once you have a real estate agent searching for that perfect new home, they may need to expend quite a bit of effort in order to find exactly what you’re looking for. Imagine how hard they would work if they discovered that you’re having another real estate agent perform the same job, but only one of them will be paid for their work?

Don’t cheat on your real estate agent. If you feel that your agent is doing a poor job or you could find someone better, let them know. It’s better to move on than to have professionals working behind each other’s backs.

#3: Fail to Be Trusting or Respectful

If you fail to show trust and respect for your real estate agent you can rest assured they’re not going to bend over backwards to help you squeeze out that extra discount or get your home sale closed as quickly as possible. Treat your real estate agent as you wish to be treated and they’ll be more than willing to do their job.

Whether buying or selling, an experienced real estate agent is the best way to ensure that your transaction goes according to plan and that you accomplish your goals. When you’re ready to discuss buying a new home or selling your current one, contact your real estate agent and they’ll be happy to assist, or contact us for a referral if you don’t already have an agent you trust. Don’t forget to keep the above points in mind!

First Time Buyers: Understanding How Property Taxes Work and What You Can Expect to Pay Are you about to buy a house or condo for the first time? Congratulations!

Owning your own piece of real estate is a liberating experience and one that will provide you with the foundation to build your personal wealth and equity. Once you own your own home you’ll be responsible for a variety of new costs, including property taxes which are assessed by your local government to pay for municipal services.

In this blog post we’ll share how property taxes work and what you can expect to pay for them when you buy your new home.

It All Begins With a Local Property Tax Assessment

As mentioned above, local governments assess property taxes as a means for paying for police officers, fire fighting services, road maintenance and the other various costs that come with running a town or city. Whether you’re buying a house, a townhouse or a condo, the property that your home sits on is inside of an area known as an “assessment area”.

When the local government determines what your local tax levy or tax rate will be, they will assess your home based on the real estate market value of similar homes in the area. You can multiply your tax rate by the assessed value of your home to determine how much you’ll owe in property tax.

Property Taxes As Part of Your Closing Costs

When you close on your new home you’ll have to pay property taxes, and your real estate agent will help you to understand how much these taxes will be and how they will be paid. In most cities and counties you’ll pay a pro-rated amount of property tax that covers the time span from the date you purchase the home until the end of the year, after which time you’ll be paying your full assessed rate.

Don’t Forget Your Overall Tax Picture

Finally, don’t forget that property taxes can be factored in to the rest of your overall tax picture. Check with your accountant or another financial professional to determine whether or not you can write your property taxes off against your income tax to save some additional money. There are numerous tax benefits to owning a home, so it’s best to start using them from day one.

As with all other taxes, property taxes are a fact of life that every homeowner faces. When you’re ready to buy a new home and to learn more about how property taxes will affect your purchase, contact your mortgage professional for expert advice.

Don’t Be That Guy or Gal: 3 Easy Ways to Ruin Your Relationship with Your Real Estate Agent

First Time Buyers: Understanding How Property Taxes Work and What You Can Expect to Pay

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