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How to Buy a House That Is Not For Sale: Get Your Dream Home!

To buy a house that is not on the market, you have to be prepared to make lots of effort. House stalking is no easy feat, but it’s way easier with real estate professionals. You will end up with a house if you practice the things we discuss below. Eager home shoppers are more likely to get their dream home! With our guide, learn how to buy a home that’s off-the-market right now. 1. Get the Details, Contact the Homeowner What better way to know if getting your dream house is even possible than by directly asking the owner? First, try to know the reason why the house isn’t on the market. There’s a possibility that property’s been listed in the past, but it was withdrawn or expired. Maybe the owner had a change of plans. Perhaps the owner deliberately avoids putting it up on the market because they don’t like too much attention. To get clarification, you can either get a real estate agent to communicate with the owner or send a letter yourself. It’s time to send that letter that might change everything. It doesn’t need to be a literary masterpiece- you can go as simple as you…

Fee Simple vs Leasehold: What is the Difference in Ownership?

Choosing between the two types of land tenure, the fee simple vs. leasehold ownership, would affect your real estate’s value. It’s critical to differentiate them if you’re looking to buy a property in a leasehold state like New York, Hawaii, or Florida. Fee simple is the most commonly chosen real estate ownership, making it more familiar to people. In contrast, leasehold ownership only applies to select states. Below, we’ll discuss leasehold ownership, fee simple ownership, and useful facts about leasehold. What Is the Difference Between Fee Simple and Leasehold? Fee simple It’s sometimes referred to as fee simple absolute or freehold since it’s the most straightforward and complete form of real estate ownership. If you’re a fee simple buyer, you’ll have the title to the property, including the land and future improvements to said land. You’ll end up purchasing the entire property. No time limit exists on a fee simple buyer’s ownership of the land, and he could do whatever he wants with it: sell it, trade it, give it to someone, lease it, or pass it on upon his death. Since fee simple is the most familiar form of ownership, this is what most people choose. Leasehold On the…

Advantages and Disadvantages of Renting an Apartment

Before making your decision, you should keep in mind the advantages and disadvantages of renting an apartment. Renting an apartment is not such a long-term commitment compared to buying a house. It’s way easier on the budget, plus you don’t have that much responsibility with the home maintenance. It’s easy to go to shopping centers, pools, and other amenities when you’ve got them all close by. We discuss the pros and cons of renting an apartment here. Pros of Renting an Apartment One of the obvious advantages of renting an apartment is a lesser financial burden than buying a house since rent is way cheaper than a mortgage. Other than that, maintenance and utility bills would be lower due to the smaller space. Renting an apartment would also save you time and energy on the upkeep since you don’t have to worry about shoveling snow or mowing the lawn. Amenities like pools, gyms, tennis courts and laundry services have never been more accessible than in apartment complexes. Safety is also a plus since you’ll live close by plenty of neighbors. This is clearly an advantage for the elderly and children. And because of the nearby people, you’ll have the opportunity…

Things to Consider When Buying a House With a Sibling

Buying a house with a sibling sounds like a more economical choice than buying a home alone, but there are things to keep in mind before jumping right in. A lot of planning and consideration is needed to make this financial decision go well between siblings. Should You Buy a Home With a Sibling? Buying a home with a sibling sure does sound appealing when you’re both short on money. However, there’s one way for your housing arrangement to go wrong: what if one of you wants to back out? Things are going to be way different from a divorce scenario where dividing assets (in this case, shared residence) are concerned. So, is buying a home with a sibling a good idea at all? The following are things you should consider when co-owning a house with a sibling. Plan Ahead With a Contract Contract Signing All home buyers should have their names on the property title, which serves as official documentation of the legal owners. It is incredibly essential so that no one loses out if ever an ownership dispute arises in court. A real estate attorney is the best form of future-proofing you have here. These professionals are well-equipped…

Tips Buying a House After Bankruptcy in 2020

You recently filed for bankruptcy, and you want to buy a home – it will take some time, sure. Meanwhile, you can keep yourself informed and ready for a new, financially stable life of car loans and new credit cards. You’ll have to face hardships for a few years to grow your savings, but at the end of the tunnel is a light that guides you towards finally buying a house. Also, bankruptcy attorneys and real estate agents got your back. What are the most popular types of bankruptcy? Before you worry about home buying, it’s important to be informed about your specific bankruptcy classification. Chapter 7: The more serious debt resolution A Chapter 7 bankruptcy case is when the court relieves you from all your existing debt (student loans, child support, alimony, court fees not included, though). Chapter 7 is the most prevalent bankruptcy filing since it’s the most straightforward and attractive solution. It comes with a downside – your credit will fall miserably, stay on your credit report for up to a decade, liquidation will occur, and most importantly, it will be almost impossible to get a mortgage. It will take four years after a Chapter 7 bankruptcy…