Category: Real Estate Terms
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What Banks and Mortgage Companies Look for When Approving a Mortgage
Securing a mortgage is a significant financial commitment and a critical step towards homeownership. Not everyone who applies for a mortgage gets approved. Banks and mortgage companies have stringent criteria to ensure borrowers can manage their mortgage payments over time. We will delve into the key factors lenders consider during the mortgage approval process and…
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From 401k To Real Estate: An Investment Guide
Exploring using your 401k for real estate investment opens up possibilities and considerations. This article aims to shed light on how you can leverage your retirement savings to step into the realm of property investment, highlighting both the opportunities it presents and the challenges you might face. With careful planning and strategic thinking, investing in…
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Understanding The Assessed Value Of A Home: 15 Key Reasons For Home Buyers
When you are looking to purchase a property, there are many factors to consider in determining whether you can afford it and if it is worth the seller’s asking price. One essential aspect to examine is the assessed value used for tax purposes. This valuation helps you understand how much you will owe in property…
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Primary Home vs. Investment Property: A Guide
When exploring real estate, it is crucial to distinguish between a primary residence and an investment property. Each serves a unique purpose in one’s financial and personal life, impacting decisions from tax filings to future financial planning. This article aims to shed light on these differences, guiding homeowners and investors through the intricacies of real…
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Kelo Vs. City Of New London: A Case Of Eminent Domain Abuse
In 2005, the Supreme Court handed down a landmark case that many felt exemplified an outright abuse of the eminent domain clause in the Constitution’s Fifth Amendment. No other case has caused such outrage about the abuse of eminent domain. The Supreme Court decision in Kelo v. City of New London has brought to light…
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Understanding Assessed Home Values And Why It Matters
If you’re looking to purchase a home or property, especially for the first time, navigating the myriad of legal terms and jargon can be overwhelming. One critical distinction that often confuses new buyers is the difference between the assessed value of a home and its market value. Although these terms might appear to refer to…