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When you’ve lost the Job and Can’t Pay the Mortgage Loan

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A steady job is the most important parameter to keep up with the mortgage loan. If your boss has fired you or you have left the job due to the frustrating work environment, and you don’t have any other source of income to pay the mortgage then, we have some tips that can help sail your ship smoothly.

Stay calm and read the mortgage loan payment tips to understand what practical options are available for paying the mortgage loan when you’ve lost your job.

Calculate Your Money and Start Saving

First things first, try avoiding the stress as much as you can. Keep a positive attitude that everything is going to be fine. Without a stable mental state, you won’t be able to cope with the situation. Once you settle down, calculate the total money you have. By ‘total money’ we mean your savings and emergency funds. Once you know the total amount, outline your basic monthly budget and utilize the rest of the money for the mortgage payment. In the meanwhile, start searching for a new job. You will surely get one.

If this option is not feasible, you can try the next one.

Sell the Unnecessary Items

There are many household items such as furniture or kitchen accessories and even clothes which we don’t use on a daily basis. You can collect such items and sell them right away. A garage sale might seem an insignificant thing to do in such a stressful situation but, it could help you arrange mortgage loan payments. If you are worried about the buyers then, you can try placing free ads over various portals and holding an online auction. Otherwise, you can opt for a traditional way of selling.

Rent a Room

To be honest, there are thousands of people in NY who are looking for a suitable place to live. So, if you have an ‘extra’ room in your home then, you can try renting it out. Let’s say your family is small and you have got enough space to accommodate more people. In such cases, you can permit people to stay in your guest room or the room which is spare. It will not only arrange mortgage payments but also, give you the satisfaction of helping a needy person.

Contact Your Lender

Most people make the mistake of hiding from their lenders when they know they are short of money. Therefore, we want to specially tell you that it’s not a wise thing to do. Maintaining transparency is the key to convincing the lender. Please, make sure you talk to your lender at the earliest. Understanding your situation, your lender might offer you another plan on a temporary basis. For instance, your lender can ask you to go for the forbearance unemployment agreement. It allows you to repay the pending payments after a certain time interval. For the time being, you can pay less money. This will save you from losing your house. Once you get a job, you can fill the gap by repaying the mortgage amount.

Sell the House Before it falls under Foreclosure

‘Foreclosure’ means your property can be taken legally by your lender if you fail to pay three consecutive mortgage payments. If the foreclosure occurs, you won’t have any choice but to lose your home forever. Thus, foreclosure is extremely risky. You should do whatever it takes to avoid foreclosure. If you’ve tried other authentic ways and still you aren’t able to find a staunch solution, selling your home in NY is the last resort. Selling your property before foreclosure or a short sale will at least ensure you get some money back. This money can be helpful during a crisis until you have a decent job in hand.

Contact ‘We Buy Houses for Cash’ Companies in NY

Selling your house in NYC as soon as possible could be a hard nut to crack. The easiest way to approach the situation is to find a ‘we buy houses for cash company in NY. Such real estate companies help you throughout the transition right from listing your house for sale to speaking to potential buyers about the important paperwork. You don’t need to go deep into the legalities once you hire an experienced real estate agent. Just make sure to get in touch with a trustworthy and reliable real estate firm in NY.

Fraudster Alert

While we are advising you to take assistance from a real estate company in NYC, you must take care of a few things. To be honest, there are many fraudsters who will promise to sell your house fast but, when the time comes they won’t fulfill their commitments. Such companies ask you to pay in advance and then, don’t answer your calls/emails. Beware of sugar talkers and research thoroughly about the company’s past projects and clients on the internet. You can also take guidance from your relatives and friends who have relevant knowledge or experience associated with the real estate sector.

Final Word

Try to get a new job and meanwhile follow these tips to deal with the mortgage payment failure issue. Remember that every dark cloud has a silver lining. If you need assistance, you can contact ‘Elite Properties’, one of the highly reputed real estate firms in New York. The real estate agents at Elite Properties are known for being transparent and faithful to their customers. Most importantly, don’t lose hope and stay positive. It can work wonders for you.

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Is There A Way To Sell My Ugly House Fast?

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My kitchen interior seems vintage, cabinets are broken, the roof needs replacement, plumbing work needs to be done, and I don’t want to indulge in a complete makeover… Is there any way to sell my ugly house fast?

Yes! Not only you can sell your ugly home, but also sell it fast. We have figured out some crucial ways which can foster the home selling process without investing much.

Have queries?

Can you help me sell my ugly house fast?

Let’s address your queries one by one.

My House Doesn’t Have Proper Amenities…

That’s a worrisome matter because any potential buyer would definitely have some expectations. Maybe they won’t ask you for a polished home altogether but, they will ask you for basic necessities like decent flooring, plumbing work, adequate space, and a good neighborhood. For this reason, you must do a home inspection; make a list of things that your house lacks, and then, take proper actions to meet those needs. In addition to that, do take care of your space in terms of cleanliness. A clean and tidy home can foster the chances of selling an ugly home fast. If your budget allows, do hire someone for the maintenance of your home until it gets sold.

Should I List My House on Websites?

We won’t deny the fact that listing the house on top-class websites is important but, before that, you must prepare your house. Preparing the house for property listing will require a sanitized space and high-quality images. Poor-quality images can leave a wrong impact on the mind of potential buyers. They might not contact you if they feel your property doesn’t match their expectations. Remember that the right marketing is the key to getting a favorable deal.

Who Will Buy My Ugly House?

Property rates in NY are beyond the reach of a common man. This is the reason there are billions of people in NY who don’t have their own space to live. That being said, people are constantly looking for investing in the real estate market for attaining financial security. If your house has basic facilities, it will surely get sold out soon. If you face problems in finding home buyers, you can take the help of legitimate real estate companies. They can help you find decent home buyers and that too within a short span.

What Would Be the Home Selling Process?

The home selling process in New York is quite simple if you are aware of the technicalities of the real estate market. You can refer to various authentic websites on the internet for understanding the crux of the current scenario. Start by searching the prices of the house for sale in nearby localities. It will help you decide on a fair rate for your house. Plus, make sure to stay transparent while dealing with potential buyers. As you are selling an ugly house, you must tell the buyers everything clearly and include that in your purchase contract. Otherwise, buyers might create issues during the payment.

If the buyer is planning to apply for a mortgage loan, ask them to show their mortgage loan approval documents before proceeding. It will minimize the risks of any fraudulent activity. Don’t get disappointed even if you lose the potential deal by following the right path. At present, the real estate market in NY is hot, and you will definitely find a genuine buyer soon.

What Can Elite Properties Do For Me?

Being one of the most trustworthy real estate companies in NY, Elite Properties always aims to make its customers content. To be honest, the zealous team professionals at Elite Properties go an extra mile when it comes to selling home for fast cash. From listing your ugly house to handling the paperwork to closing the deal, they assist you throughout the transition. Furthermore, they don’t demand any hidden charges which most real estate agents in NYC might ask you. Therefore, you can completely rely on Elite Properties for a hassle-free home selling journey.

Final Words

Selling an ugly property in New York is not a big deal but, buyers might not agree easily for paying a handsome amount for an ugly house. Seeking professional guidance is perhaps the best way to sell an ugly or distressed house fast. With years of rich experience, real estate agents can guide you step-by-step. We insist you hire an experienced real estate company like Elite Properties for realistic advice.

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Why Buying A Home In NY Is Better Than Renting?

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The prices of home are quite high in NY. Your colleagues are planning to buy a home. You also want to settle down and desire to have a home of your own.

Amidst all the things: You don’t know how you are going to afford a property in NY. You are clueless where to find a decent yet affordable home. Hold up! Buying a home in NY is undoubtedly better than renting. But, you need a proper plan before making a final decision. Let’s take a look at some crucial points to understand why buying a property in NY is a better move than renting.

Why renting a house in NY is not a good idea?

People who advocate renting a home is better must be either the ones who have given their homes on rent or lack knowledge of the real estate market in NY. We don’t say renting is a complete waste of money as it is cheaper than buying a home. But, if you look at the bigger picture – it is surely a bad idea. Reason? You are investing a lot of money which you won’t get back. Your hard-earned money is only going to fill your landlord’s pocket. In addition to this, your landlord will likely increase the rent every year. Therefore, renting a property in NY is not at all fruitful.

Key Benefits of Buying a Home

A sound real estate investment is all about taking calculated risks. So, here are the key benefits of buying a home in NY that you must take into consideration.

  • A Step Closer to the American Dream of Homeownership

Even though you’re going to apply for a mortgage loan and will need to repay the loan amount a few years down the line, it’s still a wise decision. You will be a proud homeowner once you are free from the mortgage loan. Therefore, every mortgage payment will get you a step closer to achieving the American dream of homeownership.

  • Relief in Tax

The tax benefit is possibly the most compelling reason for purchasing a property in NY. You will get benefited while filing for tax returns as you are paying a mortgage loan. Therefore, you need not worry about anything.

  • Sense of Freedom

You don’t need to take any permission for keeping a pet of your choice or renovating your home. You can act as per your wish. You won’t get such kind of freedom in renting a home.

  • Stable Standard of Living

Having a home of your own gives you an opportunity to lead a stable life. Children going to the same school and family spending years in the concordant neighborhood are definitely advantageous aspects of owning a home. On top of that, you know the nearby hospitals, banks, and safe routes for commutation as well.

  • Financial Security

Having a house of your own that too, in a place like NY is seriously the greatest achievement and an opportunity to become financially secure. With time, the value of your home will increase. For instance, today you brought home for $500,000, and after a decade, its price might reach $900,000. So, if you think of selling your house after some time, you might get a good deal out of it.

Are You Ready to Buy a Home in NY?

Before you finally make up your mind, answer these questions honestly.

1. Do You Have Emergency Fund Ready?

You never know what may happen tomorrow. Health issues and accidents spare no one. Therefore, it’s imperative for you to have some money in the emergency fund ready. Before, you plan to buy a home, at least have a decent saving that could be utilized during an emergency.

2. Will you be Able to Pay the Mortgage?

Nowadays, the major reason that’s driving property to foreclosure is the failure of mortgage payments within the given time limit. So, if your monthly expenses are more and if you feel you might fall short of the money, then, it’s not the right time to invest in a real estate property. Take this step only when you are confident enough to manage everything.

3. Do You Want a Stable Life?

Majority of us dream of having a stable life. On the contrary, some people love adventures. Owning a home comes with certain responsibilities. Let’s say your job demands you to relocate every now and then. How would you take care of your home? Therefore, buy a home only when you are ready for a stable life.

4. Do You Know a Trustworthy Real Estate Agent?

Connecting to a trustworthy real estate agent can expound the entire procedure of buying a house. You don’t need to do manual research for finding a home. An experienced real estate agent in NYC can show you multiple numbers of properties in your desired location along with good amenities and chaste neighborhoods. Another significant benefit of hiring a real estate agent is you won’t need to indulge in the legalities and paperwork. They will do everything on your behalf. Just read the documents and ensure the clauses and terms are correct.

Final Word

Buying a home in NY is any day better than renting. At present, if you can’t afford to pay a mortgage loan, then the best piece of advice is to start saving and cut down on additional expenses. Furthermore, get in touch with a reputed real estate company in NY like ‘Elite Properties’ for dependable home buying tips.

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10 Easy and Effective Tips to Sell Your Home Fast

10 Easy and Effective Tips to Sell Your Home Fast

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Do you know the average time to sell a property is 1-2 months? It might take longer if your house is in a distressed condition or unsafe locality! With so much competition in the real estate market, chances of getting a good deal are less. We’ll help you Sell Your Home Fast and safely.

Don’t get disappointed and multiply your stress listening to such remarks, because it’s not always like that. There are thousands of home buyers in NY who are actively seeking a property to live in. With proper home selling strategies, you can definitely rack up a favorable opportunity and sell your property fast. Therefore, keep a positive attitude and embark upon your home selling journey.

We have compiled a list of 10 easy and effective tips to sell your home fast…

1. Right Property Evaluation

Every home seller feels that his property is the best. Now, this notion doesn’t emerge due to arrogance or ego it is simply a result of the attachment one has with their house. However, this ‘attachment factor’ may become a barrier in the home selling process. Potential home buyers won’t be concerned about such things. They just want to buy good property at affordable rates. Therefore, you should take care of the practical aspect and decide a price according to the rates of property in your neighborhood and the condition of your property.

2. Choose the Right Time

There’s always a right time for everything – This saying is true even when it comes to real estate affairs. Logically, the summer and spring seasons are considered to be the best seasons to sell your home or buy a property because buyers usually explore the properties during the warm season and refrain from going out during the winter season. Therefore, you must pick the right season for selling your house fast.

3. Hire an Experienced Real Estate Agent in NYC

Never opt for a real estate agent who’s offering you services at cheaper rates. Instead, look for an experienced real estate agent who can help you find genuine home buyers. Don’t worry about their fees because they will make sure you get a quick and good deal. So, do thorough research on real estate companies in New York and choose the best one.

4. Clean and Declutter Your Home

Nobody likes a dull and depressing ambiance especially when they have to live there for a long term. Imagine a potential home buyer comes for your home inspection and all he/she sees is a cluttered and untidy home. Will they invest in such a property? To be honest, no one will be interested in such a real estate venture. Remember that the first impression is the last impression. So, it’s imperative that you present the home in a decent manner. The simplest way to declutter your home is by removing unwanted accessories and sanitizing the entire space.

5. Make Clever Upgrades to Your Home

Merely cleaning the home is not enough. You have to make some clever upgrades for amplifying the overall look and pitching the buyer for a competent price. If your budget allows, start with a fresh coat of paint, repair the damaged cabinets, and ensure your plumbing, and drainage system is in working condition. In addition to this, hire a caretaker who will maintain the home until it gets sold.

6. HD Images for Property Listing

Property listing is a great way to convey to the buyers that you are interested in selling your home as soon as possible. Furthermore, the majority of people check the images on the property listing page before they proceed to contact the home seller. Poor quality images of your home can make the home selling opportunity slip off your hands. Therefore, hire a professional photographer or ask your real estate agent to do the needful. This investment will surely prove fruitful.

7. Emphasize the Best Features

No house is perfect but, every home has a USP (Unique Selling Point). For instance, you might have a sea-facing house, or your house might have a larger space. You have to figure out the best feature of your home to convince the buyer for closing the deal in a hassle-free way.

8. Traditional Way of Advertising

In today’s world, where everyone relies on modern means of advertising, you can try advertising in a traditional way. By ‘traditional way’, we don’t mean printing ads in the newspaper, simply by word of mouth or putting a huge signboard on your home can work wonders. You can also put an ad on the back side glass of your car.

9. Harness the Power of Social Media

If you are tech savvy and don’t believe in traditional methods, try to be a little creative and adapt unique ways to advertise your home for sale because the online advertising competition is very high in the real estate market. You can start by shooting a video of your home and sharing it on famous social media platforms like YouTube and Facebook. In addition to this, you can make a catchy post and ask your friends to share it with their contacts.

10. Behave Politely with the Potential Home Buyers

We are so focused on commercial aspects that we often overlook the power of polite behavior. Sometimes, polite behavior can invigorate a trust level in the home seller and help them crack the deal smoothly. Therefore, no matter how tired or frustrated you are, always behave politely with your potential home buyers.

Final Word

These tips will surely prove to be a schlepper to sell your home fast. Furthermore, you can contact reputed ‘we buy houses for cash’ companies in NY like ‘Elite Properties’ for greasing the wheels of your home-selling jaunt. Being one of the renowned facilitators of real-estate services in NYC, they assist their customers at every step. Therefore, keep patience, connect with Elite Properties, and soon you’ll find a perfect buyer for your home.

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Top 10 mistakes to avoid while selling your home

Top 10 Mistakes to Avoid When Selling Your Home

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Selling a real estate property, especially your home can be a stressful and time-consuming affair. No matter how much knowledge you possess of the current real estate market trends, you could still make mistakes and sabotage the probability of selling your home at profitable prices. Keeping that in mind, we have rounded up 10 mistakes that you should avoid when selling your home in New York City.

Mistake 1: Emotional Involvement with Home

There’s an adage, “A house is made of bricks and beams; a home is made of love and dreams” which is absolutely true. It’s very natural to get attached to the place where you’ve nested for so long and shared good times with loved ones. Howbeit, once you decide to sell your home, you need to get over the emotional quotient and act like a businessperson. You might find it rude but you need to maintain an emotional distance. Otherwise, you might end up delaying the home selling process or won’t be able to sell the home with peace of mind.

Mistake 2: Not Hiring an Experienced Real Estate Agent

Although experienced real estate agents will ask for a hefty commission, it’s still worth it to approach them. A good real estate salesperson can guide you throughout the transition and optimize your efforts. With years of knowledge in the real estate market, they can help you get a competitive home selling price. In addition to that, they’ll take responsibility for all the paperwork and legalities involved in selling your property. So, it’s a wise step to hire a real estate agent in NY for a hassle-free transition.

Mistake 3: Keeping Unrealistic Hopes

Keeping unrealistic hopes when selling the home is one of the crucial mistakes that sellers tend to make and ultimately end up in smoke. Assume that you want to buy a house and the seller is asking for too much price as compared to other houses for sale in the same neighborhood. What will you do? You’ll obviously look for other options available to you. Right? Likewise, no buyer will take an interest in buying an overpriced home. Therefore, setting up the price according to the market is the key to a successful home selling deal.

Mistake 4: Neglecting Necessary Repairs

The first impression is the last impression. Therefore, making a good impression on potential buyers is important. Anybody who’s willing to invest in the property would conclusively expect a nice cozy home. In such scenarios, a damaged home can become a deal breaker. Before putting your home for sale, you must do all the necessary repairs such as cracks in the ceiling, leaking faucets, or unhinged cabinets. It’ll leave a positive impression on them and increase the chances of a quick sale.

Mistake 5: Spending too Much on Repairs

As we explained, a seller must upgrade his/her home before putting it for sale. But sometimes, what happens is, that a seller, goes overboard with the damage repairs and eventually spends too much money on it. Bear in mind: Anything in excess is bad. Therefore, one should always spend their hard-earned money wisely. Just check out for the major repairs that need to be done and don’t indulge in revamping the entire house. Else, you won’t be able to earn any profit.

Mistake 6: Choosing the Winter Days

Winter is considered an off-season for the real estate market as compared to other seasons because the number of active buyers during this season is very less. According to recent studies in the real estate industry, the main reason behind it is people either go on holiday or stay at home during the chilly days. Selling your home in winter might adversely impact your house selling process and bring you less marginal value. So, you should avoid selling your house in winter.

Mistake 7: Skimping on Listing High-Quality Images

Nowadays, people have become tech-savvy. The first step they take while buying a house is checking the images of the house for sale on the property listing page. This clearly implies that pictures are of utmost importance. Having said that, refrain from uploading poor-quality pictures as they can lead you in the opposite direction. It may trigger potential buyers not to visit your home. To be more precise, simple pictures won’t do the job. You’ll need to have high-quality images showing fine details of the house. So, showcase the best assets of your house with HD images and increase the chances of selling the house.

Mistake 8: Not being insured

Are you insured? “Why? How does it matter?” Well, this is the reason why most people neglect the insurance part. On average, less than 50 % of sellers are properly insured in NY. There are thousands of good reasons you might give for not being insured but, if you want to sell your property safely, you must be insured. Let’s say a potential buyer meets an accident on your premises and makes false allegations against you or for instance, your dog bites him/her, what will you do? He/she might sue you and ask for money. In such cases, the insurance company will be your savior.

Mistake 9: Faking It

Sellers often make big claims regarding their property and make false promises to potential buyers for selling the property fast. Well, the buyer will definitely be conducting a home inspection before sealing the deal, and he/she may say a big NO about finding out the reality. Therefore, don’t fake anything and keep it simple.

Mistake 10: Signing a Purchase Contract without Basic Inquiry

You must ask the buyer for the pre-approval letter before you close the deal. For instance, you’re selling your home for $400,000, and the buyer agrees. Well, congratulations! That’s what you’ve wished for. This is where you’re mistaken! Never trust anybody without inspecting their mortgage loan approval documents. Stay alert to fraud buyers and scrutinize everything before you sign the purchase contract.

Final Word

Avoiding these 10 home selling mistakes would explicitly ensure a painless home sale. Further, choosing a “we buy houses for cash” company in NYC would help you maximize your profits. You can contact ‘Elite Properties’ which is one of the most reputed real estate companies in NY for selling your house quickly for cash. Apart from the rich experience they hold in the real estate industry, they also implement digital marketing strategies like social media marketing and blogging proactively to sell your property within a short span.

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Tips for first time home buyers

Tips for First-Time Home Buyers

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Are you planning to buy a home for the first time or are you among First-Time Home Buyers? Well, that’s undoubtedly a smart financial move. However, you may have to face certain challenges such as finding the right location or financing your purchase during the initial phase.

So, before you take a step ahead in achieving your American dream of homeownership, you should gain some practical knowledge of investing in real estate. It will help you get a bird’s eye view of the current market situation, ensure you won’t end in smoke, and make your abode journey easier.

Considerations Before You Take the Plunge

Here are some basic yet important questions you need to answer before proceeding. They will positively help you navigate in the right direction.

1. What Kind of Property Will Meet Your Needs?

Buying a home for the first time can be a test of your patience and forbearance. Don’t get us wrong, but finding a home that meets your needs is actually not a cinch. It’s better you start the journey by making a list of all the features/amenities you expect in your dream home.

Let’s say your goal is to have a spacious home located in the central area of NY with a small backyard. Then, you can either opt for brownstones or townhouses. If you want a cost-effective property with low maintenance, walk-up housing, which is the most common housing in New York, would serve your purpose. You have to figure out things according to your preferences and standard of living.

2. Do you qualify for the Mortgage You Expect?

During the home-buying process, it’s crucial for you to know how much mortgage you qualify for. You may plan to buy a home with a net worth of $450,000. However, the lender may not provide more than $250,000. Why?

The lender will analyze certain factors such as your total income, job security, and outstanding debts prior to assigning you the capital. They’ll directly say no if your debt-to-income ratio depicts that you’ll not be able to afford the mortgage payments. So, it’s a wise step to calculate your credit before applying for a mortgage loan.

3. Do You Have a Trusted Source Who’ll Guide You throughout the Process?

As we mentioned earlier, buying a home can be a daunting task. A trusted source can prove to be a boon for a first-time house buyer because no matter how much groundwork you do, there will always be something where you’ll feel the need of seeking professional help. A real estate agent can provide you with a number of options that match your expectations and are within your reach in terms of the price range. In addition to that, they can also help you get a loan, complete the paperwork legalities, and streamline the process. Therefore, you must contact an experienced real estate agent in NY to make your transition a hassle-free one.

Home Buying Process

Here are the five significant steps that can demystify the entire home-buying procedure.

1. Pick the Right Type of House

Contradictory to the common mindset, there are a plethora of affordable real estate properties for sale in NYC. Make sure to do thorough research on such properties, online as well as by paying a personal visit.

First, check out the houses on the internet by exploring the property listing pages of top real estate companies in NY. This way, you’ll get the description of available houses including their high-quality images.

Once you’re done, choose the top 10 or top 5 houses of your choice and contact the real estate agent for further details. Sort out the best property and move on to the next step for fulfilling your desire.

2. Explore Your Secure Financing Options

Assistance programs that offer low down payments and discounted interest rates for first-time buyers are available across different states of NY. Therefore, you must discuss the different types of mortgages with your real estate agent. Investing your time in exploring secure financial options may seem like a mentally draining process but, it will surely pay off in the long run.

3. Make an Offer

Many people get confused during the negotiation and end up frustrated. To avoid such situations, talk turkey to the real estate agent and decide a final price that you can offer for the property. Your real estate agent will then proceed and keep your proposal to the seller.

4. Consider Doing a Home Inspection

Once the seller agrees to your proposal, consider doing a home inspection by personally visiting the house. You can also hire a professional home inspector to save yourself from any kind of pitfalls. If you find something major that needs to be repaired, ask your seller to either do the needful or deduct the price from the final offer. First-Time Home Buyers should be very careful with this.

5. Close the Deal

You’ll need to sign a ton of legal papers while closing the deal. Carefully read the ‘legal jargon papers’; if everything falls into place, go ahead and sign the agreement to seal the deal.

Mistakes to Avoid as First-Time Buyer

Buying a home for the first time is indeed very special. Even the slightest mistake while buying a home can result in failure. To verify the following things first and then take a decision.

1. Looking for Home First and Loan Afterwards

This is the most common mistake that first-time buyers do and regret later. As a first-time home buyer, you need to keep in mind that the property might fall into foreclosure or short sales if you fail to repay the loan within the specified period. So instead of daydreaming about the home, face the practical world by visiting a lender’s office first.

2. Not Paying Attention during Home Inspection

All that glitters is not gold. Therefore, paying undivided attention during the home inspection is necessary. Make sure you access everything including the drainage system, roofing, plumbing, and electrical wiring.

3. Fraudster Alert

Don’t fall into the honey trap of fraud sellers who offer you unbelievable deals. The modus operandi of fraudsters is to take advantage of your ignorance. Stay cautious and understand all the clauses while you sign the agreement. The best way to avoid real estate fraud for First-Time Home Buyers is to seek professional help. It will significantly minimize real estate-related risks.

The Bottom Line

In a nutshell, the more informed you are beforehand, the less stressful you’ll feel during the decision-making process for First-Time Home Buyers. Do follow these tips sincerely and we’re sure you’ll get your dream house in New York soon!

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Why Getting a Remodeled Homes is better than a New One for a First-time Buyer?

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There are times when it becomes difficult to take any decision especially when it comes to real estate affairs. Deciding whether to buy a remodeled homes, or a new one is definitely a time-consuming and challenging task for a first-time buyer as both have their pros and cons. Since buying a real estate property is a long-term commitment; you shouldn’t take it lightly and gain apt information regarding the laws, finance, and practical aspects before proceeding.

While we comprehend the appeal of investing in a new property, buying a renovated house might just be the wise decision you’ll make. To make your real estate journey a hassle-free experience, here’s an important question you need to ask yourself.

Does Remodeled House in NY Make Sense for Your Needs?

If we keep aside the real estate technicalities, one major issue that might arise during the decision-making process is budget: Is it convenient to buy a remodeled house as a first-time buyer? The answer to this question will depend on your financial planning and your family’s needs. First, you need to contact an experienced real estate agent and discuss all your concerns in detail. The real estate agent will show you the renovated house for sale according to your needs and if you feel satisfied with the features of the remodeled home; you can go one step ahead and do an analysis of the remodeled house price with respect to its current condition and location.

To find out remodeling house estimated costs, consider visiting the neighbors. You can inquire regarding the newly remodeled houses for rent as well as sale in the locality. It will give you a rough idea in reference to the house prices in that area. In addition to that, just speak to your real estate expert about the additional hidden costs and precise tax rate which you will need to pay for buying a remodeled home. This step-by-step procedure will definitely help you overcome the decision-making dilemma.

Advantages of Having Remodeled House

It’s always good to take calculated risks while investing in real estate. We are sharing the top benefits of investing in a move-in-ready property to help you take a crystal clear decision.

1. Significant Money-Saving

The prices of real estate properties in NY are at an unswerving high. However, remodeled houses are considerably cheaper than newly built ones. According to our recent survey, the investment in new real-estate property could cost you 20% to 30% more in comparison with a remodeled home in NY. So, as a first-time buyer buying a remodeled home can be a smart financial move.

2. Better Neighborhood

Existing homes are generally near downtown areas, more often in a centralized location, unlike new homes which are mostly built in exurbia.  So, you won’t have to face any problems with commuting and have easy access to local markets, hospitals, banks, educational institutions, and your workplace.

Another advantage that you get with a remodeled home is an established neighborhood. Having a decent neighborhood is imperative as moving to a house is a long-term commitment. Apart from that, it is necessary from the point of view of safety and security too. So, that’s a huge advantage that shouldn’t be overlooked.

3. Upgrade to a Larger Space

Remodeled homes are much more spacious than the houses that we see in metropolitan cities today. In addition to that, you can also add a second story to increase the house per square footage. However, the rationale for a remodeled property in NY may vary from locality to locality. Be sure to research regarding the codes and laws in the locality where you intend to buy a remodeled house.

Choosing an experienced real estate salesperson could play a vital role in such cases. They can help you with the most authentic information about your neighborhood. Once you are aware of the local zoning laws, it becomes easier for you to take a decision.

4. Less Paperwork and Legalities

Legal paperwork and documentation are crucial parts of selling and buying a real estate property. In the case of a remodeled house, you won’t have to redo the entire documentation work. You’ll just need to change the personal details on the original documents and pay the required transfer and re-registration fees. Furthermore, mortgage frauds are much more evident in New York City nowadays.

Many unscrupulous house owners who’ve purchased a new property but failed to pay the mortgage loan may sell you their foreclosed or distressed property. However, when you buy a remodeled house, such risk won’t be there. But as a first-time buyer, you should scrutinize the documents properly to avoid such scams.

5. Retain Repairing Costs

Renovated homes can easily stand the litmus test of time aesthetically as well as structurally for a long period. Even if something needs to be fixed, you don’t have to worry about the repair credit. It would entirely fall into the realm of responsibility of the seller for a substantial amount of time. It could be between 10 to 20 years. Just make sure to discuss the ‘home warranty’ clause with the seller prior to signing the home agreement.

However, the renovation process consumes a noticeable amount of time, and the probability of getting a remodeled house in NYC at your convenience isn’t always facile. There might be several elements that you would like to implement in the remodeled home before stepping in. For example, the old stone foundations, sinks, or chimneys might require tuckpointing, and for that, you will have to keep patience until the home which you aim to buy gets completely ready. On average, the renovation process might take several weeks or even months. You can hire ‘we buy houses for cash company in NY to avoid such complications and have a hassle-free transition. In addition to that, they can also help if you have an unused property that you want to renovate and sell fast.

Property Listing

As per our current data & statistics, nearly 60% to 70% of remodeled homes in NY are yet to be sold. To reap a rewarding experience, you can take guidance from a reputed ‘we buy houses for cash company in NY. You can visit their website and check the property listing of available remodeled homes along with a detailed description and images.  Once you like a property, you can contact the company’s representative for a detailed quotation. Don’t hesitate to negotiate the price and choose the best one which meets your need.

Final Word

All the above-mentioned advantages give a leading edge to the renovated house/remodeled homes in the new-versus-renovated home battle. We suggest you settle upon a trust-worthy real estate company and do a realistic assessment of the renovated home for sale if the scenario is that the remodeled house is available in a much lesser price range, you can buy remodeled home in NY straight away.

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The Advantages of Downsizing your Home

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The amount of downsizing homes has gradually increased in the past few years, and we do suggest trying it out for yourself. Even though this idea wasn’t one among your all-American dream, sometimes stepping down from your current home to a much smaller one would be the best strategy to save yourself from a financial crisis or being bankrupt. Life might turn upside down without your consent and going along with the flow might submerge you in deeper troubles.

But, a majority of people fail to understand the right time to let go of their current home to a smaller one. By the time he/she picks up the situation, it might be too late. Downsizing homes in NYC is pretty much simple with all the experienced real estate agents in the locality. Well, the ‘we buy a house for cash’ campaigns of most of the real estate brokers in NY are pretty endearing too. Let’s have a look at the advantages of downsizing houses in NYC.

What are the advantages of Downsizing?

1. Gradual Increase In Cash Flow

Whatever the plot is, it always comes down to finance. The less you spend, the more you save. The same goes for real estate platforms too. If you are spending less or paying a lesser mortgage amount to your property owner, you are likely to save a few more bucks every month that you can allocate for other needs. Some extra money can come in handy always.

2. Save on Utility Bills

A smaller house uses less energy on electricity and other resources. Well, air conditioning in a smaller room is a lot more energy-efficient and pocket-friendly when compared to a larger room. The same goes for water too. By downsizing homes, you can see a drastic decrease in utility bills.

3. Save More Time

Let’s talk about maintenance now. Even if you have rooms that aren’t being used on a regular basis when it comes to a home renovation or house painting you must include these extra rooms too. This results in more maintenance and time. Shifting to a small house in NY will always help you to save some extra time and effort.

4. Less Stress

With everything going along as you desired, less responsibility, more leftover money, and greater flexibility, the amount of stress you’ll experience will be less. Homeowners who have successfully downsized appear happier when they are no longer overwhelmed by the demands of a larger home.

The Right Way to Downsize in New York

1. Plan for a Long-Term

Planning is the core of everything. Considering all the scenarios before searching for your new home is a wise plan. Whether you need a guest room, a home office, or even an extra garage, make sure all your requirements are met accordingly in your new house. You can hire a real estate expert in NY to sell your home and buy a new house in NYC.

2. Keep an account of the Hidden Expenditures

Well, downsizing seems like a pretty good idea, but it does involve selling your current home. Make sure your home is in sellable condition. If not, you should use some resources and money to make the home sellable. So, when it comes to the final expenditure make sure you aren’t losing money.

3. Hire an Expert

It would be better to hire a real estate company in NYC to sell your current home and buy a new one. They can make the whole process easy and hassle-less. Selling your house to ‘we buy houses for quick cash’ companies in NY will be an excellent choice if you are in a hurry to shift to your new home. Having an expert in the real estate sector is always an advantage.

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Why Selling Home to Cash Buyer Is a Blessing in Disguise

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Are you planning to sell your house for cash? Accepting a deal for your property from a cash buyer might be the best decision that you’ll never regret later in the long run. With numerous ‘we buy houses for cash’ companies being established in the locality, the demand for cash buyers is running over the roof. Even though such companies and establishments might seem shady to the naked eye, they are indeed a blessing in disguise.

Introduction

When you are planning to sell a property in NY, most of you will be left with few options opting for a property chain to top the list. Even though a property chain to sell your house in NYC seems to be a profitable idea it can really get on your nerves within no time once the mortgage gets declined, or buyers refuse to commit to buying your property. The property chain scenario will blow off your dreams of buying a new house with its prolonged time period and complicated procedures. The only thing that can be your pipe dream is the ‘sell your house for cash’ scenario. Here are some of the advantages of selling a house to a ‘we buy house for fast cash’ company.

Sell Your House Fast

Selling to a cash buyer in NYC is indeed an excellent opportunity for everyone. But it is more suited to people who ‘need’ to sell their property, rather than just ‘want’ to sell.

Did you understand the difference between need and want here?

Well, allow us to make the frame clear to you.

Selling a property for cash will be apt if you are facing foreclosure, bankruptcy, or other financial difficulties. This approach is feasible when selling your house and is the last resort you can try. The traditional home selling procedures will take a lot of time and might be hefty on your bank. Well, you can’t expect foreclosure to wait around till you’ve found a suitable buyer. Instead of waiting for someone to show up with a prominent offer for your foreclosed property, a cash sale is much faster. This will save you from foreclosure and becoming homeless. You’ll be able to arrange the desired money right in time to relocate or buy a new home quickly.

Sell Your Home As Is

When a cash buyer offers a price for your home, it means they are fine with buying your home as-is. You don’t need to worry about the extra renovation charges or repair costs. Well, this might be a massive relief for you as we do know how the expenses can shoot up when trying to replace the air conditioning or demolish the wearied-out patio. By selling your house to a cash buyer, you shouldn’t be worried about putting your home in a showroom condition which means you save a lot of time and money. If you are hoping to sell your house hassle-free, finding a company that buys houses for all cash in NY can be your best option.

A Hassle-Free Real Estate Solution

The house selling process tends to be lengthy and complicated. A person who doesn’t know his/her way around the industry will find it difficult to sell the property in NY. Find a suitable and professional cash buyer who can offer fair prices for your property. You’ll experience real estate at its best with hassle-free services. Forget about all those hefty paperwork, loan denials, unsure buyers who always back out near the end, and much more. Speed, convenience, and the ability to avoid complications still matter when it comes to selling a property that you’ve been holding near to your heart. With less hassle, you’ll move on faster from your emotions towards the home.

Conclusion

Always look for someone who is professional and has experience in real estate. An experienced cash buyer might be able to get you the right price you’ve always wanted for your house. Find the nearest property dealer or a real estate company in NY. They’ll help you in selling your home for fast cash and to sell it quickly.

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