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4 Valuable Situations to Use a Power of Attorney For Real Estate

Realty Biz

This legal document enables someone to handle property matters on behalf of another person when the principal cannot manage real estate affairs or deal with transactions from a distance. Are you wondering if setting up a power of attorney for your real estate transaction is a good move? In my real estate business, we frequently use a POA.

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Why it’s time for the housing industry to get serious about climate risk

Housing Wire

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. You build the home to code. You use the right comps to appraise it. You check the 100-year floodplain determination box during origination. Job’s done – the rest can be handled by the property and casualty folks.

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Mortgage lenders need to lean in to consumer expectations

Housing Wire

For example, from a scheduling standpoint, 58% of survey respondents stated they would be very likely/likely to self-schedule their appraisal, inspection and/or closing appointment online if the option was available to them. The pandemic had a profound impact on the home-buying experience. Why should the mortgage process be any different?

Mortgages 397
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What Are Seller Concessions? Here’s Why They’re a ‘Win-Win for Both Sides’

Realtor.com

Sellers can also offer to pay for repairs should the home inspection reveal that they’re necessary. Sellers can also offer to pay for repairs should the home inspection reveal that they’re necessary. One type of incentive that buyers—and sellers—can use is called seller concessions.

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When borrowers ‘ghost’ their servicers

Housing Wire

Larry Goldstone is tired of being ghosted. He is used to it by now, but the problem has only gotten worse since the beginning of the COVID-19 pandemic. Goldstone has tried contact via phone calls and emails consistently. If necessary, he even knocks on doors — without success. We know who the borrowers are. We service their loans.

Loans 358
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6 Mortgage Mistakes to Avoid

Realty Biz

But draining every bit of cash from your savings is a big mistake, especially when there are additional home-buying costs, including: A home inspection Closing costs Home insurance. You can always make an extra mortgage payment or add to the principal each month, but starting out with no cash on hand is a major mortgage mistake.

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8 Rules of Thumb to Determine How Much House You Can Afford

HomeLight

In addition, you’ll need to budget for these costs: The appraisal: $354 on average The inspection: $335 on average Closing costs: 3% of the home’s purchase price on average And after the deal closes, you’ll need to factor in taxes and homeowner’s insurance. But the down payment is only the tip of the iceberg.