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Taxes paid at a Georgia Closing – no rocket science
In Georgia there are 3 kinds of taxes than can be paid at closing. The first one is the property taxes. These can be city, county of both, depending on where the property is located. For a transaction closing February 3 where the tax bill does not come out until September, the seller would pay the buyer for her share of the taxes from January 1 to February 3. This is called tax proration. When the tax bill comes out later in the year, the buyer is responsible for paying the full amount, since the seller already paid the prorated amount to the buyer.
Read More “Taxes paid at a Georgia Closing – no rocket science”Do I need to do Radon Testing When Buying a House?
In most places radon testing is not part of a professional home inspection. If you want it done, you have to pay separately for that type of inspection. And, to be honest, in the 8 years that I have been doing real estate in the Central Savannah River Area, I have never had a single client do radon testing. In other areas of the country,on the other hand, it is part of every transaction. When I recently helped my mother-in-law sell her house in Cape Cod, Massachusetts, I learned that radon testing is done there as a matter of course.
Read More “Do I need to do Radon Testing When Buying a House?”Vinyl, brick, stone or hardi plank?
This is, by no means, meant to be an exhaustive exposition of all types of siding available and their relative merits. I am writing from field experience and basic facts. In our area builders are using 4 types of external siding: vinyl, brick, stone and hardi plank.
Read More “Vinyl, brick, stone or hardi plank?”Not All Home Improvements Increase Value
Homeowners need to be well informed about what home improvements increase the value of their homes and which are just done for enjoyment, not necessarily to increase the value of the home.
Read More “Not All Home Improvements Increase Value”What? I have to pay $10,000 to sell my house?
I have heard this more than once. I, personally, don’t think it is a good idea to sell a house if you have to come to the closing table with $10,000. This is happening more and more to people who bought their houses a few years prior to the market crash in 2008. They bought high and now may have to sell for lower. They may have only put down 3.5% for a down payment, or 0%, if they did a VA or a USDA loan. Now they may be selling for the amount they bought or a bit less and they have to pay a 6% or 7% commission. They are stunned when they realize how much they will have to pay to sell.
Read More “What? I have to pay $10,000 to sell my house?”Don’t Pay More than the House is Worth!
Real estate contracts often have contingencies – a contingency defines a condition or action that must be met in order for a real estate contract to become binding. These must be fulfilled in order for a contract to continue and go to closing. Contracts will often have a financing contingency, where the buyer is given the chance to apply and be approved for a loan. If the buyer is unable to secure financing, the financing contingency lets the buyer out of the contract. Without such contingency, the buyer would be forced to buy, even if he could not get a loan.
Read More “Don’t Pay More than the House is Worth!”5 Tips for Buying a Home
Looking to buy a home? Here are five essential tips for making the process as smooth as possible.
Read More “5 Tips for Buying a Home”Relocating to the Big City
Moving from a small town or suburb to a large city can be an intimidating proposition. Here are a few tips to help make your move as painless as possible.
Read More “Relocating to the Big City”Preparing to Sell
Selling your home doesn’t just mean hiring a realtor to stick a sign out front. There are a lot of preparations you should make to ensure you get the best offer possible in the shortest time.
Read More “Preparing to Sell”Dealing with Financing
As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home.
Read More “Dealing with Financing”