Author: Home Bay

  • 8 Seller Tips to Accurately Price Your Home

    Coming up with a sale price for your home can seem overwhelming. However, with good guidance and the help of online home value tools, it’s easy to set a price that will both entice potential buyers and give you good returns. Consider the following to be sure your pricing

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  • A California residential purchase agreement and real estate purchase agreements in all states include several strict deadlines that dictate when buyers must take certain actions. In California, when a buyer fails to comply with these time frames, the seller can prompt the buyer to complete the needed action by delivering a Notice to Perform. This post will explain what that is, when to use it and how it works. A Notice to Perform is a real estate tool designed to make buyers stick to agreed upo

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  • When you purchase a property, you have to decide how you want title to read after closing. "Title" is the legal paperwork that states who owns the property. Title can be held by a person, a company, or a trust. This post will explain what your options are and how your name will look on your title in various examples. Examples: John Smith owns a limited liability corporation, called Smith LLC. He also has a trust, called The J. Smith Trust. When John purchases a real estate property, he can choo

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  • Home Warranty: Defined & Explained

    By Home Bay

    Posted on November 6th, 2014

    A home warranty protects a home buyer from costs associated with home repairs in their first year of ownership. For example, if the dishwasher breaks or if a pipe bursts, the warranty company will pay to fix or replace it. Read on for more details on what a home warranty covers and what it costs. Coverage: A home warranty will typically provide repair or replacement coverage for appliances [https://www.homebay.com/tips/do-you-have-to-fix-everything-before-you-sell-your-house] , plumbing, electr

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  • In a real estate transaction, buyers and sellers are sometimes faced with an issue they cannot resolve on their own. Rather than litigate (i.e. go to court), the parties can agree to mediation or arbitration. These alternative methods of resolving issues are typically faster and less expensive for both parties, making them preferred options over litigation. The decision to use mediation and arbitration (vs. litigation) is written directly into the Offer to Purchase Real Estate. Mediation vs. A

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  • There are a number of fees involved [https://www.homebay.com/tips/what-it-really-costs-to-sell-a-home-seller-fees-explained] in buying and selling a home, and real estate transfer taxes fall into this category. Curious about what transfer taxes are and what types of transfers incur these fees? Keep reading for answers! What is Transfer Tax? When one person (or entity) transfers land or real property to another, the transaction may incur a transfer tax. The tax rate can vary by location [http:/

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  • A loan contingency, also commonly known as a mortgage contingency is one of the standard contingencies in an offer to purchase real estate [https://www.homebay.com/resources/real-estate-contingencies-how-they-impact-your-home-sale/] . Wondering what a loan contingency is and how it impacts your home sale? Read on to find out. History of Loan Contingencies: Prior to the mortgage crisis, a loan contingency language typically stated that the offer was contingent upon the buyer obtaining a loan wi

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  • Mortgage Fees: Defined & Explained

    By Home Bay

    Posted on November 17th, 2014

    As you likely know, there are a number of fees involved in a real estate transaction [https://www.homebay.com/tips/what-it-really-costs-to-sell-a-home-seller-fees-explained] . Mortgage fees fall into that category. This post will explain what mortgage fees are, what they cover and who pays them. What mortgage fees are involved in a sale? Fees associated with applying for a mortgage are paid for by the buyer. As buyers evaluate various lenders, it's a smart practice to compare home loan fees the

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  • How Long Does it Take to Close?

    By Home Bay

    Posted on November 25th, 2014

    The time it takes to close can vary from a few days for all-cash buyers to a few weeks for buyers who need to obtain a loan [https://www.homebay.com/tips/mortgage-options-101-a-comprehensive-guide/]… or longer, if the buyer isn't ready to move. This post will explain what happens during the closing process and will explain several things that can impact your closing timeline. The buyer and seller always agree to an closing timeline before they finalize the offer [https://www.homebay.com/tips/ev

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  • The more interested a buyer is in your home, the more likely they are to ask questions to learn more about it. That's why after you list, you need to be prepared to answer a range of questions about everything from your monthly utilities to how long it takes to get somewhere. Here are the top ten questions buyers tend to ask. 1. What is the neighborhood like? Does the neighborhood decorate for the holidays? Are there a lot of garage sales? Is there a 4th of July block party? Tell yo

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