Welcome to Professional Real Estate Guide
Real Estate Investment Partnership Article
This is a selection made from among articles on Real Estate Investment Partnership. For a permanent link to this article, or to bookmark it for future reading, click here.
Buying your first home in Las Vegas? Here’s what you need to know
from:You have made the decision to make one of the largest investments you’ll ever make in your life-buying your first home in Las Vegas. You’re excited, but at the same time worried. Some of the questions you may be asking are: Will I be able to afford the home of my dreams? Do I have enough money for a down payment? Can I get a home inspected before I make an offer?
No need to worry. The home buying process in Las Vegas can be overwhelming, but if you go into it prepared, your first purchase can be a good experience.
Here are some things to you need consider before making the plunge.
Getting a mortgage - Fear of being rejected for a home loan is one of the main concerns for first-time homebuyers. To reduce the stress, you may want to get pre-approved for a loan before looking at prospective homes. This will not only help you feel more confident, it will also give you an advantage when there are multiple offers for a specific home. The fact that your loan has already been approved is of great value to the seller: because it shortens the purchase process and there is less of a chance that the buyer will back out of the sale.
Mortgage Payments - The costs involved in the purchase of a home can be overwhelming to first-time buyers. However, with the help of a real estate professional, you can calculate out how much they you are able to pay each month in mortgage payments, and from there, what prospective homes offer a feasible payment plan.
Be acquainted with an agreement with an agreement of purchase and sale and go over the clauses with your realtor. A verbal offer carries no legal weight at all - So be prepared to make an offer in writing.
Down-Payment - The down-payment amount varies depending on the value of the home you choose and your mortgage lender. And in some cases, first-time home buyers can purchase a home with no money down. Although it varies from state to state, most offer government-funded programs for first-time buyers that help people buy a home with no down-payment. Your real estate professional will be able to explain the different options available to you.
Closing Costs - First-time buyers often forget to consider the closing costs when making an offer on a home. Paying closing fees of up to 10 percent of the home sale amount is not unusual. Add that to the down-payment and you’ll have quite a sum to raise before the final papers can be signed. However, a smart first-time buyer takes this into account before making an offer, and with some professional help, the costs can be estimated in advance.
Making offers - Don’t feel pressured into making an offer on the first home you see. This is a common mistake of many first-time homebuyers. Make sure you view different homes to get a feel for the marketplace. When you do decide on a home to make a bid on, work with your real estate professional to get all of your questions answered first before making an offer. But don’t wait too long to make an offer. The longer you wait, the greater the chance other prospective buyers may place offers, making it harder for you to negotiate a good deal.
Condition of the Home - Buying a “problem” home is another fear of first-timers. A home that needs major repairs can become a costly venture. And, unless the asking price is adjusted to reflect the hidden repairs needed, chances are the home is not worth as much as the seller is asking for it. To avoid untoward surprises, your real estate professional may advise you to hire a home inspector before making a serious offer. In that way, you know what you are getting into.
Above all- Make sure you understand and are comfortable with every aspect of the transaction. Your real estate professional can be an invaluable asset in helping you make educated decisions so that your first-home purchase in Las Vegas is a rewarding experience.
Real Estate Investment Partnership News
Reis, Inc. Expands Marketing Channels Through Penton Media Partnership - MarketWatch (press release)
Reis, Inc. Expands Marketing Channels Through Penton Media Partnership MarketWatch (press release) "Penton has cultivated a strong community of commercial real estate professionals and we are thrilled to partner with them. In addition, the webinars will allow us to showcase our coverage of commercial real estate in the 200 metropolitan areas that ... |
American Spectrum Realty, Inc. Announces the Potential Sale of Four Office ... - MarketWatch (press release)
American Spectrum Realty, Inc. Announces the Potential Sale of Four Office ... MarketWatch (press release) HOUSTON, May 23, 2012 (BUSINESS WIRE) -- American Spectrum Realty, Inc. (ASE:AQQ) ("The Company"), a real estate investment, management and leasing company headquartered in Houston, Texas is under contract to sell four (4) office buildings in Houston, ... American Spectrum Realty, Inc. Is In Discussions To Raise Capital AMERICAN SPECTRUM REALTY, INC. : Announces the Potential Sale of Four Office ... |
Summit Hotel Properties, Inc. Amends Credit Facility - MarketWatch (press release)
Summit Hotel Properties, Inc. Amends Credit Facility MarketWatch (press release) SIOUX FALLS, SD, May 23, 2012 (BUSINESS WIRE) -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), a real estate investment trust (REIT) specializing in the ownership of premium-branded hotels in the upscale and upper midscale segments, ... SUMMIT HOTEL PROPERTIES INC : Summit Hotel Properties, Inc. Amends Credit Facility |
Chartwell Seniors, ING Real Estate to sell US 5 communities for US$290 million - Winnipeg Free Press
Chartwell Seniors, ING Real Estate to sell US 5 communities for US$290 million Winnipeg Free Press The sale is being made by Bristal Holdings, which is jointly owned by Toronto-based Chartwell Seniors Housing Real Estate Investment Trust (TSX:CSH.UN) and by ING Real Estate Australia Pty. Brent Binions, Chartwell's president and CEO, said the sale of ... |
Former Hynix plant to be sold - The Register-Guard
Former Hynix plant to be sold The Register-Guard By Ilene Aleshire and Sherri Buri McDonald A Seattle real estate investment firm has signed a contract to buy the former Hynix plant in west Eugene for an undisclosed price, according to a memorandum the two companies filed with the Lane County deeds ... |