appraisal: When Not to Accept Highest Bid on Your Home - 10/11/23 06:54 AM
Your house is on the market and there is a shortage of housing.  As a seller, when this happens it appears that you are on the winning side and should receive multiple offers.  At the same time, you should watch for red flags that may be present when a buyer makes an offer.  Many times, sellers think higher offers are always more appealing, and in a market where multiple offers are frequent, this creates an environment where missteps may occur.  Sometimes sellers are willing to accept a lower offer because they feel there may be less headaches and a greater chance … (5 comments)

appraisal: Difference Between Inspection and Appraisal on Home - 06/07/23 06:11 AM
One important step that should be included when purchasing a new home is to request an inspection be done on the property.  This should be scheduled no later than immediately after a contract has been accepted by both the buyer and seller.  Normally, the contract allows a short period of time when this task can be accomplished.  The short period of time should be sufficient to inspect and negotiate repair costs if necessary.  Inspection identifies the condition of the property prior to finalizing the transaction.  Appraisal requires a professional to determine the market value of the property which the buyer desires … (4 comments)

appraisal: Lesser-Known Fees That Factor into Buying a Home - 02/15/23 06:32 AM
Many home buyers are not aware of all fees charged that makeup the total cost of purchasing a home.  Some of these fees are normally paid prior to closing while others are paid at closing.  Fees paid at closing will be itemize on your closing statement which you should receive a copy to review prior to closing.  The fees that are lesser known to the general public will be reviewed below:    
Inspections of property – As a home buyer who is hiring an inspector to perform an inspection on property that you recently signed a written contract to purchase, you need … (2 comments)

appraisal: Explanation of Home Closing Costs - 02/06/20 06:35 AM
When buying or selling your home all buyers and sellers incur closing cost associated with the transaction.  Normally, closing cost (need to include commission and if 5% down payment) are about 8% to 12% of the property purchase price depending on the type of transaction, other than full cash transaction which may be less.  Shortly after signing a contract between a buyer and seller of property, many lenders are willing to provide a good faith estimate of proceeds involved in the transaction.  Your real estate agent should be making that request for their client.  The final closing disclosure of cost should … (1 comments)

appraisal: Important Information About Reverse Mortgages - 04/04/17 05:51 AM
Seniors who are 62 years or older have the ability to use proceeds from their current regular home loan or reverse mortgage to purchase another home.  If a senior has a reverse mortgage they still maintain ownership providing they pay their property taxes and live in the home.  Having a reverse mortgage still allows seniors to move to another geographical area to be closer to their children or buy a home that meets their physical needs.  At the same time, these seniors can eliminate making future mortgage payments. Another advantage seniors have available to them, creates a line of great that … (0 comments)

appraisal: Understanding Home Buyer Terms - 07/29/15 05:54 AM
As a home buyer it is important to understanding concepts and terms prior to buying property. Throughout the buying process a buyer will be exposed to new terminology and needs the ability to understand these terms.  Following is a list of some important terms:
Abstract of Title – Historical record of legal ownership of the property.
Adjustable Rate Mortgage (ARM) – Variable rate loan where the interest rate changes based on an index.
Agreement of Sale – Written contract for sale signed by both parties which the buyer and seller agree to specified terms to transfer ownership of property.
Amortization – Process of reducing the … (1 comments)

appraisal: Understanding Buyer’s Offer - 10/20/14 12:55 AM
After putting your home on the market, you finally receive an offer from a buyer.  If you receive multiple offers, you are going to want your realtor to notify all potential buyers that you are in multi-offer environment and give the potential buyer’s approximately 24 hours to submit their final and best offer.  After this has occurred, you will evaluate the offers.  Do not get carried away with the dollar offer, be sure to evaluate all the other terms within the offer.  Remember seller concessions which may include: personal, or real property, and/or seller contributing to the buyer’s closing cost which … (4 comments)

appraisal: Comparable Sales Help Determine Market Value - 03/13/13 10:45 PM
Many homeowners who are considering selling their home, or desire to stay abreast with market values within their neighborhood, do a market analysis of their property.  In addition, it is important for buyer to have a market analysis of properties prior to making an offer on a house.  This can be extremely important depending on the type of financing the buyer is seeking, and the amount of the offer.   The best way to determine market value for a house is to do a comparable sales analysis of sold homes in the immediate neighborhood.  The market analysis is normally completed by real estate … (0 comments)

appraisal: Understanding a Home Offer - 02/28/12 11:38 PM
Prior to receiving an offer for your property, it is good idea to become familiar with a sales contract.  This will give the seller a head start on understanding what they might receive in an offer.  Initially, the seller is most interested in the sales price, but the seller needs to give serious consideration to the other terms within the offer.  It is possible the seller may receive a full price offer, but net $15,000 or more under the asking price.  Following is a suggested way to break down an offer on your property:
·      Purchase price - The sales price … (2 comments)

 
John Watts (Keller Williams Realty)

John Watts

Austin, TX

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Keller Williams Realty

Address: 12515-8 Research Blvd, Ste. 100 , Austin, TX, 78759

Office: (512) 751-3359

Mobile: (512) 751-3359



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