School Loans & Homeownership

Did you know that student loans can negatively impact your ability to own a home? In this video, we'll explore the link between student loans and homeownership and the consequences that can happen as a result. By the end of this video, you'll know all you need to know about the relationship between student loans and homeownership, and you'll be able to make an informed decision about whether or not student loans are right for you.

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𝐅𝐑𝐄𝐄 𝟑-𝐃𝐚𝐲 𝐇𝐨𝐦𝐞𝐛𝐮𝐲𝐢𝐧𝐠 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞

Buying a home is a big process. This FREE 3-Day Challenge will walk you through the first steps by showing you the advantages and disadvantages of buying a home. It is a fun and easy way to decide if it is the right time for YOU! This is a good place to start if you're considering making a home purchase in the near future.

Sign up for the next session at: www.LauraKey.net

Should You Accept the Previous Buyer’s Inspection Report?

Sometimes a home falls out of contract. Most buyers assume that it is related to a bad home inspection, but there are many reasons for a home to come back on the market that are unrelated to the condition of the home.

During the contingency period, most buyers can cancel for almost any reason – or even no reason. Of course, the listing agent and seller are motivated to get the home back under contract as quickly as possible and may offer the previous buyer’s home inspection report to the new buyer. Some may even ask that the new buyer remove their right to a home inspection, based on the one they offer. If you have been offered the previous buyer’s inspection report, you’re probably wondering if you should accept it and remove that contingency.

In a fast-moving seller’s market, it might be tempting, but before you accept the report, there are a few considerations:

• Before accepting the inspection, do your research. Who did the inspection? Is it a reputable, licensed home inspector? Check public review sites for comments and customer satisfaction. Check their license with the issuing board and see if they have had any violations or suspensions.

• Once you verify the company, give them a call. Make sure they have performed a comprehensive inspection. Many companies offer both a comprehensive and a simpler, cheaper, visual inspection.

• Finally, read the report carefully. If there are issues discovered, ask for clarification and consider paying for the inspector to meet you at the home to discuss the report in person with you.

Accepting the home inspection might seem like a good idea – both to make your offer more appealing to the seller and to save a few dollars – but before you remove the home inspection contingency, do your homework. Make sure you understand the real condition of the property before you buy it.

Buying or selling a home can be very stressful! Why not get educated now to be prepared. Sign up for your FREE homebuyer’s course today! bit.ly/housekey

Homebuying Myth

Buying a home can seem like a huge undertaking. You don’t need to be a first time home buyer to find the process overwhelming. There is so much information available, how can you tell what’s true and what’s a myth? Understanding the difference can help you make the best decision for you and your family goals. Top Home Buying Myths – And the Truth  The First Step is finding the Right House – Before you head out shopping, speak with a lender to understand your financial options and how much house you can afford.  You Can’t Buy a Home Without Perfect Credit – The truth is there are many loans available which still offer good interest rates for those without that perfect score.

 You Need 20% Down Payment – First time home buyers can use FHA financing for as low as 3.5% down. There are other programs too, such as VA and some conventional loans with less than 20% down also.

 You Don’t Need an Agent – An agent not only knows the market and can help you with value, but also customary charges, negotiations and solutions to common hiccups.

 Schools Don’t Matter if you don’t have Kids – The neighborhood is always important to home values, regardless of whether you yourself have children.

 New Homes Don’t Need a Home Inspection – Every home should have a home inspection by a licensed inspector to check for existing or potential problems. Buying a home is one of the most important financial decisions you’re likely to make in your lifetime. Take the time you need to understand the process and learn from the professionals; don’t assume that everything you read is true.

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FIVE THINGS TO KNOW ABOUT HOME INSPECTIONS

Home inspection is an important part of the home sale process, both for buyers and sellers. When it’s time for you to hire an inspector, here are five things you should be thinking about:

 1. It’s your choice: You are not bound or obligated to use any particular inspector. Your real estate professional may have some recommendations, but it’s ultimately up to you. Ask around and choose wisely—better to pay a little more now for a highly-respected inspector than to be surprised by a problem that the inspection didn’t reveal.

 2. Looking for big problems: The inspector will be focused on the integrity of the home—safety, electrical work, foundation, load-bearing walls, etc. The inspector is not there to point out problems with ugly paint colors or light fixtures.

 3. The report: There are hundreds of items to inspect in a home, so the inspector’s report will focus on the basics: What’s damaged, what needs repaired, etc. The report should be easy to read and understand.

 4. Code of ethics: Though the inspector is working for the party that pays the inspector’s fee, the inspector will not deliver a report that intentionally hides or omits damaging information about the home. The report is private between you and the inspector, but if you’re the seller, you’re required to disclose any problems that the inspection reveals.

 5. The inspector is not liable: Even the best inspectors can’t find every single problem in a home. They can’t see inside the walls or through the floors, so there could still be problems lurking. If a problem is revealed down the road, the inspector can’t be held responsible.

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