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How Does Rent to Own Homes Work?

rent to own homes

A rent to own agreement may be the ticket you need to own your first home. If you dream of purchasing your own house but find it difficult to turn that into a reality, fret not. Most homebuyers such as yourself need a mortgage to purchase a house. However, to qualify for financing, you must have a good credit score or cash for a down payment. If you do not have both, the route to getting your title may be difficult.

Thankfully, you can count on an alternative solution which is eventually purchasing what you rent. So how does rent to own work? The concept is easy because you need to rent a home for a specific time frame. Then, later, you get the option to buy the property before the lease agreement expires. Thus, any rent to own agreement comes in two parts: the typical lease contract and the clause that provides the renters the option to purchase.

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Popular East Coast House Styles

house styles

There are so many tough choices you will inevitably need to make over the course of building your new home. Among them is choosing only one from the many house styles available. It is hard to make that decision when you can see how gorgeous the individual styles are.

You also must consider your neighborhood. If you are moving into a new neighborhood, you may not necessarily want to disrupt the area by building a home that stands out in a bad way. The disparate architectural design of your home may cause it to draw the ire of your new neighbors.

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Six Compelling Reasons a Home Inspection is Crucial for Every Home Buyer

home inspection

Buying a home is a major financial investment that will affect your budget for many years. Hence, a home inspection is crucial because you cannot afford to make any mistakes with your hard-earned money. After all, a house is not like other goods that you can return or exchange if you spot something wrong with the merchandise.

Thus, you need to know what kind of house you are getting to avoid potential problems down the line. After paying the down payment and all the other closing costs and incidentals, you may not have enough money to fund repairs like termite damage or corroded plumbing lines.

Clearly, a home inspection is crucial before you sign that final contract. To learn more about home inspections, you have come to the right spot. Keep on reading so you can make an informed choice.

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How to Apply for an FHA Loan

FHA loan

It’s everyone’s dream to own a home, and an FHA loan can help you accomplish that goal. An FHA loan is one option to obtain a mortgage that may be the best choice based on your circumstances. These loans help people in the low- or middle-income bracket and that don’t have a lot of money to put down on a house. It’s also ideal for someone with a less-than-perfect credit score. If this sounds like you, then read on for more information on how to move forward with an FHA loan.

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What Is a Multifamily Property?

multifamily property

Multifamily homes are one of the best starting points for any new real estate investor who wants to purchase a property for passive income. A small multifamily property can boost your cash flow and grow your portfolio fast.

Its ease in financing makes it one of the best choices for beginner investors, and experienced investors consider it a basic type of investment in commercial real estate. It is less tedious and not as complicated as investing in other commercial properties. But before you jump the gun, you should fully understand what you are getting yourself into if your eyes are set on investing in a multifamily home. Here is all that you need to know.

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What is a Short Sale in Real Estate?

short sale

In the real estate world, a short sale refers to the sale of a property at a price that is lower than the mortgage value. The process involves the homeowner convincing the mortgage bank to approve the sale so the homeowner can get out of the mortgage. Once the sale is made, the bank either forgives the deficiency (the remaining amount due on the mortgage) or asks the borrower to pay part or all of it. The sale proceeds always go to the bank.

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Homeowner Tax Deductions for Rhode Island Residents

homeowner tax deductions

According to Benjamin Franklin, “nothing can be said to be certain, except death and taxes,” and as we are quickly approaching tax season, it’s time to be looking for ways to save on those taxes. Homeowner tax deductions are one of those ways, offering many potential tax write-offs, some that are often overlooked.

With Rhode Island being the 10th highest state in property taxes, with an average of 1.53%, homeowners are looking for ways to reduce these taxes as much as possible. Let’s look at some of the options that are available to Rhode Island property owners.

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How to Find Out if There Is a Lien on Your Property

property lien search

Imagine finding the perfect buyer for your home. The paperwork is being drawn up, you’ve started packing, a property lien search is being done, and the closing date is coming up quickly. Right before closing, you get a call. There’s a lien on your home. The buyer isn’t sure he wants to buy your house now, and you’re left trying to figure out what happened and having to find a new buyer.

Buying or selling a home with a property lien can bring the transaction to a halt. It leaves everyone scrambling to find out what to do next.

By conducting a property title search before you sell your house, you can avoid these unpleasant surprises or create a plan to take care of any liens on your property. Here’s what you need to know about a lien search.

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The Documents You Need to Sell a House

selling a house

Sellers checklist: All the documents you need to sell a house

Selling a house should be straightforward and simple. Unfortunately, it rarely isn’t, as you must complete several documents needed to sell a house.

If you’re ready to sell, here’s a checklist of all the necessary paperwork for a faster, smoother transaction.

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What is a Duplex?

duplex

What Is a Duplex?

A duplex is something of a hidden gem in the investment property world. It can produce strong value growth and healthy rental yields, sometimes at half the price of similarly located detached houses. Duplexes are popular among renters too — according to the National Multifamily Housing Council, around 17 percent of renters live in a duplex, triplex, or quadplex. But what exactly is a duplex property, how does it differ from an apartment or townhouse, and is it all too good to be true? Read our short guide to duplexes to understand everything you need to know about this unique property type and whether it is the best option for you.

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