Many professionals play a role in real estate transactions. Mortgage professionals help people obtain financing. Real estate agents help sellers list their properties and help buyers look through available inventory. Inspectors, surveyors and appraisers are all...
What is a short sale in real estate?
A homeowner who needs to sell a home for less than they owe may need to use a short sale to make it happen. This is an option for some homeowners who are having trouble keeping up with their mortgage payments but the property value is below the balance of that...
Why do those buying residential real estate need title insurance?
Buying residential real estate is a major commitment. The average home buyer invests as much as a third of their monthly income in mortgage payments and may diligently work for 30 years to pay off the principal balance on their home loan. Particularly if someone has...
4 things that go wrong at real estate closings
Whether you’re buying or selling, getting to the closing on a real estate deal can feel like you’re finally approaching the finish line of a marathon – but don’t start celebrating too soon. There are a lot of things that can go wrong. The closing is where contracts...
Assess real estate investments using the 50% rule
In Pennsylvania, using the 50% rule for estimating the potential cash flow of rental properties can help investors avoid the common pitfall of overestimating profits and underestimating expenses. Applying the rule provides a quick foundation for additional research,...
A closer look at real estate wholesaling and who benefits from it
Many types of companies operate throughout Pennsylvania. Some people or businesses operate as wholesalers, meaning they typically buy more than one of something. Then, wholesalers sell purchased items to their clientele in large quantities while making a profit. What...
Tips for buying a house in 2023
Before looking at Pennsylvania homes to buy, you need to check your financial situation. The first step in the home-buying process should include a talk with a mortgage loan originator at your local bank or credit union. Secure your financing Unless you plan on making...
The purpose and function of real estate agents
While online home shopping is a trend that is unlikely to abate anytime soon, most property purchasers in Pennsylvania will enlist the help of a realtor when it comes time to actually close the deal. The best way to ensure a smooth experience when hiring a real estate...
What is the escrow process in Pennsylvania?
Escrow is a necessary process of buying rental property in Pennsylvania. It starts when the seller accepts a buyer's offer. In Pennsylvania, escrow typically takes 30–90 days, depending on whether issues arise during the process. Open an account Real estate law...
Real estate wholesaling
Real estate has long been seen as a strong investment and hedge against inflation, in Pennsylvania and across the U.S. A specific real estate business strategy is real estate wholesaling. This involves entering into a contract to purchase a home and then selling that...