Under Contract. Now What?

Philadelphia homes for sale Congratulations! You have successfully navigated your financial qualifications, found the right home & came to terms on an Agreement of Sale.  Now we just wait for settlement, right?  NO!  We covered steps 1-5 in a previous post.  Here are the final steps to get to closing. Step 6 Conduct Inspections and Negotiate for Repairs or Credit if Needed After the agreement is signed we will schedule any necessary inspections.  Once these are completed we will try to negotiate for any needed repairs &/or...Continue Reading!

Overwhelmed by the Buying Process?

Philadelphia homes for sale Hire a Professional to Help! Buying a home can be an overwhelming undertaking.  It is helpful to hire a professional to help guide you through the transaction & streamline the process. What Does a Buyer Agent Do? A buyers agent is a Realtor you hire to represent you.  This means they work with your best interests in mind at all time, negotiate for you, identify properties based on your needs, advise you through the inspection, mortgage process & facilitate the communication between all...Continue Reading!

2 Important Changes to FHA Loans

Philadelphia homes for sale Many First Time Home Buyers Use FHA.  Will These Changes Effect You? An FHA Loan is a mortgage insured by the Federal Housing Administration.  It was created to increase home ownership through more flexible guidelines related to credit scores, down payment & savings requirements.  An FHA loan always has a Mortgage Insurance Premium (M.I.P.) that is paid by the borrower. So, what's changing & when? In April the FHA is Raising M.I.P. Premiums This is for any FHA case # assigned on or after...Continue Reading!

3 Things You Should NOT Do Before Buying a Home

Philadelphia homes for sale Thinking of Purchasing a Home? There are many things we are told to do, not too many people tell you what you should not do. 1. Don't Make Any Large Purchases Don't buy a car!  Or make large purchases of any kind; especially on credit.  This includes electronics, jewelry, vacations, that dream wedding & furniture.  This reduces the amount of money in your savings or negatively effects your debt to income ratio.  Or both.  This will lessen your purchasing power & raise red...Continue Reading!

What is a Tax Abatement?

Philadelphia homes for sale One Of Our Most Common Buyer Questions Answered! The tax abatement was created to help spur growth & development in Philadelphia.  The basic premise was to stimulate development through creating a demand for residential housing by offering a tax incentive to those purchasing. This Does Not Mean You Pay NO Taxes... The land or improvements have been assessed at some point in recent history.  Whether the assessment is $100 or $10,000 (depending on the parcel's size, location or existing improvements) that amount is...Continue Reading!