Utahâs real estate market has been hot nearly the whole year. How did it perform in November? Homie has your update!
Data from Utah MLS from November 1, 2020 to November 30, 2020.
According to data from the Utah MLS, Utah had 4,335 sales from November 1, 2020 to November 30, 2020. Of those sales, 75.6% were single-family homes, while 24.4% were multi-family residences.
The sales this month are slightly lower than the 5,602 sales in October of this year, but itâs a +18% increase from November 2019, which is an even larger percentage increase than the year-over-year comparison we saw in October. This means the market is following the usual end-of-year slowdown, but the market is still quite strong compared to a year ago.
Data retrieved from Utah Real Estate .
Even though monthly sales saw the usual end-of-year slow-down, sale prices continued to rise. At $379K, Utahâs median sale price rose +2.4% from October of this year and 16.8% from November 2019.
Data retrieved from Utah Real Estate .
List Price (Per Square Foot)
List prices in Utah rose during November along with sales prices. Novemberâs median list price per square foot was $175.92, which is up from the previous monthsâ median of $170.25 per square foot.
Data retrieved from Utah Real Estate .
Days on Market (DOM)
Homes in Utah continue to sell quickly. The Average Cumulative Days on Market (DOM) during November was 9. This is a 72% decrease from November of last year. Prospective Utah homeowners will need to act quickly to get the homes theyâre interested in.
Data retrieved from Utah Real Estate .
Number of Homes Listed With Homie
A total of 182 homies listed their homes with Homie during the month of November. This number is up from 154 during the same time period last year.
Data retrieved from Utah Real Estate .
Turn to a Homie
Homieâs local real estate agents can help you navigate Utahâs hot housing market and find your ideal home. Work with a Homie to get an amazing deal whether youâre buying or selling. Click the links to get in touch with your dedicated agent.
The post Homieâs Utah Housing Market Update November 2020 appeared first on Homie Blog.
For first-time home buyers, finding the perfect place to settle down is hard enough. But then to have the offer youâve made on it rejected? You might be tempted to start reconsidering this whole homeownership thing altogether.
But hold on! Having your home offer rejected doesn’t have to mean it’s back to renting. In fact, if you play your cards right, you might just be able to turn that rejection aroundâor at least learn from the experience and come back a stronger candidate the next time.
The most important aspect of a rejected offer is understanding why it was rejected, and for that we turned to the experts. Here are a few common reasons your home offer might have been rejected, and a few helpful tips on what you can do about it.
3 common reasons sellers reject home offers
Home offers are rejected for myriad reasons. Here are some of the most common ones, as explained by the experts.
1. Your offer was too low
The first and most obvious reason your home offer could have been rejected is if the dollar amount didnât meet the sellerâs expectations. This might mean your offer was insultingly low, or that it was just low compared with other offers.
Often, buyers “believe the best way to start a negotiation is with an offer thatâs lower than what theyâre willing to pay,” says Colby Hager, owner of CapstoneHomebuyers. “This can work, but it can also backfire. When a seller is considering multiple offers, the low offer seems less serious and could indicate further negotiating headaches down the road.â
Keep in mind that sellers are looking for a good deal just as much as you are, and you should plan on working with your real estate agent to make sure the sellers at least feelÂ like theyâre getting one.
2. Your earnest money deposit was too ‘cheap’
If thereâs one part of the offer you shouldnât cheap out on, itâs the earnest money deposit. This deposit (also called an EMD or âgood faithâ deposit) basically signifies how interested you are in the home and that you plan on moving forward with the deal, all the way to its closing.
âBelieve it or not, there are buyers who get cold feet and walk away from a transaction days before closing,â says Shannon Hall, broker and owner of Dwellings by Rudy & Hall. âThe EMD should be enough to let a seller know you’re very interested, and also uncomfortable with the idea of leaving it on the table.â
Since many contracts stipulate that a seller can keep the earnest money deposit when a buyer walks at the last minute, you should feel certain about the houseâand then convey this certainty by leaving a significant deposit.
Hager recommends putting down at least 1% of the purchase price to show sellers you mean business.
3. You asked for too many contingencies
Sellers donât just want the best price for their home; they also want the easiest dealâwhich means no complications.
âSellers like the least number of contingencies,” stresses Hall.
“But thatâs not to say that a buyer should waive the due diligence period,â she adds. âMake it shorter, but donât waive it. And if you need multiple contingencies, that’s fine; but look for a home thatâs been on the market for at least 30 days.â
Since sellers are generally more willing to make concessions on a home theyâve been trying to sell for several weeks, this is a good approach to take if youâre a picky buyer with multiple contingencies.
âSellers also don’t like to give away their money to help someone get into a home,â says Hall.
Make your deal an easier and more appealing one for sellers by sticking to the fewest number of contingencies possible, getting due diligence done quickly, or targeting homes that have been on the market for longer.
Watch: 5 Things You Should Never Do When Buying a Home
What to do if your home offer is rejected
The first step is understanding why the offer was rejected in the first place.
âIf an offer was rejected, a buyer can try again, depending on the reason it was rejected,â explains Karen Parnes, broker and owner of NextHome Your Way.
âIf you need a certain home sale contingency, for instance, and can’t remove it, then move on,” Parnes says. “But if you can pay more and the market warrants it, resubmit a better offer.â
How to avoid future home offer rejections
Although rejection is sometimes unavoidable, there are things you can do to increase your chances of making a successful home offer.
For instance, âa buyer should come into the market already aware that he or she will have competition,â Hall says.
In addition to putting your best foot forward, you should be sure youâre working with an agent who has the skills to close the deal.
âA good real estate agent can help by guiding the buyer on the expected norms of offers in their area,â says Hager.Â âA real estate agent will also know the market and help you figure out if starting with a lower offer is advisableâor if a strong offer out of the gate will get the best results.â
One final bit of advice: Work with an agent who understands seller interests.
âThe buyer’s agents who most often win the day are the ones who reach out to sellers before submitting an offer,â says Hager. âThey have the best chance of not being rejected because they took the time to understand the seller’s situation.â
And if your home offer still gets dismissed, donât be too disappointed. In a seller’s market, “buyers are bound to have their offers rejected,â says Parnes. âHomes are coming off the market quickly, and sellers’ expectations are high.â
If your offer gets rejected, work with an agent to fix it or simply move on to the next home. Then make an offer the seller canât resist.
The post 3 Big Reasons Your Home Offer Was Rejectedâand How To Play It Right Next Time appeared first on Real Estate News & Insights | realtor.comÂ®.
Note: Due to the COVID-19 coronavirus pandemic, the IRS has extended the federal tax filing and payment deadline to July 15, 2020. The recent relief package passed by Congress may have additional tax implications. Please contact a tax adviser for information you may need to complete your taxes this year. Learn more.
Note: The following is for informational purposes only and should not be considered tax advice. Please contact a tax adviser for questions about your personal tax situation.
Tax time will be here again before you know it: Tax Day 2020 is Wednesday, April 15. Weâre about two months away from one of the most stressful days for most Americans. Luckily, tax reform legislation in 2017 has simplified the tax code and changes for the taxes you file in 2020 may further increase your tax savings.
If you havenât filed your taxes yet, review our tax tips for the 2019 tax year.
1. Check Your Information
The first thing to do is check that your employers have the right address. If you’ve moved without putting in a change of address, you may miss important tax document delivery. The IRS requires that W2s and other tax documents be postmarked by January 31, so you should have received all of your tax documents by now. If you didnât receive something, start following up with them right away.
2. Get Ready
Gather and organize all your tax documents early. And by early we mean now. You’ll need personal information for you and your dependents, income and investment documents, business and self-employment records, receipts for medical bills and charitable donations and home ownership records. Make a checklist to be sure you cover everything.
STOP! Did you check your information and gather all your documents? Do this right now! If you wait until April 14 to see if you have all the documents you need, youâre really going to regret not taking our advice now.
3. Understand Your 2019 Tax Bracket for Filing in 2020
Tax brackets change regularly to keep up with inflation. A tax bracket is the range of taxable income you fall into. Your taxable income is your adjusted gross income (AGI) minus applicable tax deductions. In order to understand your tax bracket, you really need to understand what deductions are available to you.
Learn more aboutTax Brackets for 2019
4. Consider the Standard Deduction
Deductions work to decrease your taxable income. By bringing this number down, you may be able to fit into a lower tax bracket. That means you qualify for lower tax rates so you owe less in taxes.
The standard deduction is a preset dollar amount that’s subtracted from your AGI to help determine your taxable income. Your filing statusâsingle, married filing together, married filing separately, head of household or widow(er) with a childâdetermines the amount you may deduct. With the higher standard deduction amounts established by the Tax Cuts and Jobs Act (TCJA) of 2017, this route may make more sense than itemizing.
Standard Deductions for Tax Year 2019
Standard Deduction Amount
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Widow(er) with a Dependent Child
Like anything that has to do with taxes, though, there are some restrictions regarding who is eligible for the standard deduction. If youâre married filing separately and your spouse itemizes, for example, you are not eligible for the standard deduction.
5. Review Eligible Itemized Deductions
The TCJA changed and eliminated a lot of eligible deductions, including the personal deductionâwhich used to be $4,050! These changes may make it harder to itemize your deductions for bigger savings. To benefit from itemizing, your personalized deductions should be more than your standard deduction. For example, if you’re married and filing jointly, you must have more than $24,400 in itemized deductions.
But if you pay a mortgage, have high medical bills and make charitable donations, itemizing may work for you. Here are some common eligible deductions that you can write off on your 2019 taxes.
Mortgage insurance premiums
State and local taxes
Personal property taxes
Most of these deductions are limited and must meet specific qualifications, so double check those qualifications before filing.
Note that if you’re married filing separately, you and your spouse must choose to either itemize your deductions or take the standard deduction. You cannot choose to do this differently.
6. Take Advantage of Available Credits
Tax credits are different from deductions. Deductions lower your taxable income. Tax credits directly impact the tax amount you owe. They reduce the amount dollar for dollar.
For nonrefundable tax credits, you can only reduce your tax liability to zero. With refundable tax credits, you can receive a refund of the excess amount.
Tax Credit Example
You file Head of Household with an adjusted gross income of $55,000. You take the standard deduction of $18,350, which makes your taxable income $36,650. That puts you in the 10% and 12% brackets.
The first $13,850 is taxed at 10%â$1,385
The remaining $22,800 is taxed at 12%â$2,736
Before applying any credits, you owe $4,121 in federal income tax.
You take a child tax credit of $500.
This credit lowers the tax amount you owe to $3,621.
Popular Tax Credits
Tax credits can lower the amount of tax you owe. But you must meet specific qualifications, including established AGI limits.
For example, if you’re a single filer, your AGI must be below $32,501 to qualify for the Saver’s Credit. Your AGI also determines whether you can claim 10%, 20% or 50% of your contribution. Other limits apply for Married Filing Jointly filers and Head of Household filers.
Be sure to review the criteria for eligibility to learn whether you qualify for any of these popular tax credits:
American Opportunity Credit and Lifetime Learning Credit
Child Tax Credit
Child and Dependent Care Credit
Earned Income Tax credit
Residential Energy Efficient Property Credit
7. Remember Key Tax Cuts and Jobs Act Changes
The 2017 TCJA has only impacted two tax filing years so far. So, you may not remember all the TCJA changes that could affect you when you file taxes in 2020. This recap can help.
The standard deductions have nearly doubled.
There is no longer any personal exemption.
For itemizers, the 5% of your AGI spend on medical expenses has expired. The floor is back to 10% for 2019.
If you itemize, the maximum deduction for charitable cash donations to qualified organizations is 60% of your AGI. Some other eligible groups qualify, but you may only claim up to 30% of your AGI.
There’s no penalty for lack of health insurance coverage.
The child tax credit maximum is $2,000 per qualifying child.
When you itemize, your deductible mortgage interest is capped for loans up to $750,000.
You may no longer deduct moving expenses for job relocation, unreimbursed employee expenses or employer-subsidized parking and transportation reimbursement.
Deductions for casualty and theft loss, tax preparation costs and other miscellaneous deductions subject to the 2% AGI ceiling are no longer available.
You can no longer deduct alimony payments.
If you receive alimony, you don’t have to claim it as income anymore.
Capital gains taxes are lower for all but those in the highest income brackets.
8. Watch Out for Scams
As tax time approaches, be on the lookout for tax scams. A popular scam this year is robocalls from scammers claiming to be able to suspend or cancel your social security number. Ignore them and report the call! If you are concerned that you may actually owe taxes and be at risk, view your tax account information online or call the IRS at 800-829-1040.
Be wary of anyone who calls or emails you claiming to be from the IRS and demanding money. That’s not how the government operates.
9. Hire a Tax Professional
Taxes are complicated. If you want to get the most out of your tax return, consider hiring a tax preparation service that understands 2019 tax rules and regulations and can help you maximize your 2019 tax return.
10. File for Free
Some individuals may be able to file taxes for free through the IRS, including those whose adjusted gross income was $69,000 or less last year and active duty military personnel and their spouses.
Even if you donât fall into one of those categories, there are many other ways to file your taxes for free as well, so do your research!
11. Donât Delay
Donât be a victim of tax identity theft. This kind of fraud is often only detected after you try to file your tax return but canâtâbecause someone else has already done it for you and claimed your tax return! To limit your susceptibility to this, file your taxes early.
If you owe taxes, don’t put off paying your tax debt. It’s not going away, and the IRS will come after youâone way or another. Unpaid tax bills can even hurt your credit eventually. If you need help paying your taxes, you have options. Request an extension, apply for an installment agreement, or use an alternate payment method.
Learn More about Filing Your 2019 Taxes in 2020
If you have questions, need more guidance or just want some helpful resources for 2019 tax tips, turn to the experts. Read these informative blogs and articles to learn more about your taxes and how you can make tax filing work for you.
Learn More About Taxes
The post 2019 Tax Tips for Understanding 2020 Income Tax Filing appeared first on Credit.com.
Savings bonds can be a safe way to save money for the long term while earning interest. You might use savings bonds to help pay for your childâs college, for example, or to set aside money for your grandchildren. Once you redeem them, you can collect the face value of the bond along with any interest earned. Itâs important to realize, however, that interest on savings bonds can be taxed. If youâre wondering, how you can avoid paying taxes on savings bonds there are a few things to keep in mind. Of course, one key thing to keep in mind is that a financial advisor can be immensely helpful in minimizing your taxes.
How Savings Bonds Work
Savings bonds are issued by the U.S. Treasury. The most common savings bonds issued are Series EE bonds. These electronically issued bonds earn interest if you hold them for 30 years. Depending on when you purchased Series EE bonds, they may earn either a fixed or variable interest rate.
You can buy up to $10,000 in savings bonds per year if you file taxes as a single person. The cap doubles to $20,000 for married couples who file a joint return. If you decide you want to use some or all of your tax refund money to purchase savings bonds, you can earmark an additional $5,000 for Series I bonds. These are paper bonds, not electronic ones.
When Do You Pay Taxes on Savings Bond Interest?
When youâll have to pay taxes on Treasury-issued savings bonds typically depends on the type of bond involved and how long you hold the bond. The Treasury gives you two options:
Report interest each year and pay taxes on it annually
Defer reporting interest until you redeem the bonds or give up ownership of the bond and itâs reissued or the bond is no longer earning interest because itâs matured
According to the Treasury Department, itâs typical to defer reporting interest until you redeem bonds at maturity. With electronic Series EE bonds, the redemption process is automatic and interest is reported to the IRS. Interest earnings on bonds are reported on IRS Form 1099-INT.
Itâs important to keep in mind that savings bond interest is subject to more than one type of tax. If you hold savings bonds and redeem them with interest earned, that interest is subject to federal income tax and federal gift taxes. You wonât pay state or local income tax on interest earnings but you may pay state or inheritance taxes if those apply where you live.
How Can I Avoid Paying Taxes on Savings Bonds?
Whether you have to pay taxes on savings bonds depends on who owns it. Generally, taxes are owed on interest earned if youâre the only bond owner or you use your own funds to buy a bond that you co-own with someone else.
If you buy a bond but someone else is named as its only owner, they would be responsible for the taxes due. When you co-own a bond with someone else and share in funding it, or if you live in a community property state, youâd also share responsibility for the taxes owed with your co-owner or spouse.
Use the Education Exclusion
With that in mind, you have one option for avoiding taxes on savings bonds: the education exclusion. You can skip paying taxes on interest earned with Series EE and Series I savings bonds if youâre using the money to pay for qualified higher education costs. That includes expenses you pay for yourself, your spouse or a qualified dependent. Only certain qualified higher education costs are covered, including:
Equipment, such as a computer
You can still use savings bonds to pay for other education expenses, such as room and board or activity fees, but you wouldnât be able to avoid paying taxes on interest.
Additionally, there are a few other rules that apply when using savings bonds to pay for higher education:
Bonds must have been issued after 1989
Bond owners must have been at least 24 years of age at the time the bonds were issued
Education costs must be paid using bond funds in the year the bonds are redeemed
Funds can only be used to pay for expenses at a school thatâs eligible to participate in federal student aid programs
If youâre married you and your spouse have to file a joint return to take advantage of the education exclusion. And any money from a savings bond redemption that doesnât go toward higher education expenses can still be taxed at a prorated amount.
There are also income thresholds you need to observe. For 2020, single tax filers can earn up to $82,350 and benefit from the full exclusion. Married couples filing jointly can do so with up to $123,550 in income. Once your income passes those limits, the amount of interest you can exclude is reduced until it eventually phases out altogether.
Roll Savings Bonds Into a College Savings Account
Another strategy for how to avoid taxes on savings bond interest involves rolling the money into a college savings account. You can roll savings bonds into a 529 college savings plan or a Coverdell Education Savings Account (ESA) to avoid taxes.
There are some advantages to either approach. With a 529 college savings plan, you can continue saving money on a tax-advantaged basis for higher education. You wonât pay any taxes on money thatâs withdrawn for qualified education expenses. And if you have multiple children, you can reassign the account to a different beneficiary if one child decides he or she doesnât want to go to college or doesnât use up all the money in the account.
Contributions to 529 college savings accounts arenât tax-deductible at the federal level, though some states do allow you to deduct contributions. You donât have to live in any particular state to invest in that stateâs 529 and plans can have very generous lifetime contribution limits. Keep in mind that gift tax exclusion limits still apply to any money you add to a 529 on a yearly basis.
Coverdell ESAs have lower annual contribution limits, capped at $2,000 per child. You can only contribute to one of these accounts on behalf of a child up to their 18th birthday. Withdrawals are tax-free when the money is used for qualified education expenses. But you have to withdraw all the funds by age 30 to avoid a tax penalty.
The Bottom Line
Savings bonds typically offer a lower rate of return compared to stocks, mutual funds or other higher-risk securities. But they can be a good savings option if you want something that can earn interest over the long term. Minimizing the taxes you pay on that interest may be possible if you have children and you plan to use some or all of your savings bonds to help pay for college. Talking to a tax professional can also help with finding other college tax savings strategies.
Tips for Investing
Consider talking to a financial advisor about the best ways to manage savings bonds in your portfolio. If you donât have a financial advisor yet, finding one doesnât have to be difficult. SmartAssetâs financial advisor matching tool can make it easy to connect with professional advisors locally in just minutes. If youâre ready, get started now.
Savings bonds purchased on behalf of grandchildren donât receive the same tax treatment for higher education purposes. Generally, the education exclusion only applies if the grandparent is claiming a grandchild on their taxes as a dependent. If your parents are interested in helping pay for your childâs college expenses, you may encourage them to open a 529 college savings account instead, then roll the bonds into it to avoid paying taxes on interest earned.
As the Las Vegas fall season comes around, the Las Vegas market keeps on going up. Read below for Homieâs update.
In October, the real estate market saw growth on most fronts including the number of listings, number of units sold, and in terms of median listing price and sales price. However, units available and availability went down year-over-year. With that said, weâre still seeing the market continue to grow month-over-month which might indicate that buyers and sellers are becoming more comfortable in the existing real estate market.
Hereâs the full breakdown:
According to the data fromthe GLVARÂ® from October 2020, Las Vegas real estate realized a 6.8% increase in the number of single-family units sold compared to 2019.Â
Average new list prices stay strong year over year as October records a 9% increase in new listing prices for single-family units and 8.8% increase for condo/townhouse units.Â
*Data from the GLVARÂ® from October 2020 and October 2019
Property prices continued to grow as this seller market keeps on strong. We saw an 8.8% increase in year-over-year median price for single family units, and also a 14.3% increase in year-over-year median price for condos and townhouses.
*Data from the GLVARÂ® from October 2020 and October 2019
Days on Market (DOM)
We saw the Average Cumulative Days on Market continue to decrease in October 2020, as demand for this market continues to go strong. Now averaging an insanely brief 33 days on market versus 81 Average Cumulative Days on Market in 2019. This is a strong indicator that the real estate market will continue to remain strong.Â
*Data from the GLVARÂ® from October 2020 and October 2019
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The post Homieâs Las Vegas, Nevada Housing Market Update October 2020 appeared first on Homie Blog.
When you’re a first-time home buyer approaching the finish line in the journey to your new home, you want nothingÂ to go wrong, right?
Thatâs why weâve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal.
1. Get all contingencies squared away
Most purchase agreements haveÂ contingenciesâthings that buyers must doÂ before the real estate transaction is official, explainsÂ Jimmy Branham, a Coral Springs, FL, real estate agent at the Keyes Company. These are the most common contingencies that are part of your new home closing process:
Home inspection contingency: This gives buyers the right to have the home professionally inspected. If something is wrong, you can request that it be fixedâor you can back out of the sale. Itâs rarely advisable to waive an inspection contingency. Although the averageÂ home inspection costsÂ $300 to $500, itâs a drop in the bucket considering the costly home issues you might uncover, saysÂ Claude McGavic, executive director of the National Association of Home Inspectors.
Appraisal contingency:Â With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting yourÂ earnest money deposit, saysÂ Bishoi Nageh, president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ.
Financing contingency:Â This contingency gives you the right to back out of the deal if yourÂ mortgage approval falls through. You have a specified time period, as stated in the sales contract, during which you have to obtain a loan that will cover the mortgage.
2. Clear the title
When you buy a home, you âtake titleâ to the property and establish legal ownershipâa process thatâs confirmed by local public land records. As part of the closing process, your mortgage lender will require a title search, and you’ll need to purchase title insurance to protect you from legal claims to the house.
Sometimes distant relativesâor an ex-spouseâmay surface with a claim that they actually own the home, and that the seller had no right to sell it to you in the first place. But clearing title will ensure this doesnât happen, saysÂ Marc Israel, president and chief counsel of MiT National Land Services, a title company in New York City.
As the home buyer of this piece of real estate, youâre entitled to choose the title company. You can get recommendations from your real estate agent, mortgage lender, and friendsâjust be sure to check out the license and reputation of each company online.
3. Get final mortgage approval
You’ve made that down payment, but before you can go to the closing table, yourÂ home loan must go through the underwriting process. Underwriters are like real estate detectivesâitâs their job to make sure you’ve represented yourself and your finances truthfully, and that you havenât made any false or misleading claims on your loan application.
The underwriterâemployed by your mortgage companyâwill check your credit score, review your home appraisal, and ensure that your financial portfolio has remained the same since you were pre-approved for the loan.
Since underwriting typically happens shortly before closing, you donât want to do anything while youâre in contract thatâs going toÂ hurt your credit score. That includes making a down payment on a car, boat, or similar large purchase that has to be financed.
4. Review your closing disclosure
If you’re getting a loan, one of the best ways to prepare is to thoroughly review yourÂ closing disclosure, also known as a HUD-1 settlement statement.
This official document outlines your exact mortgage payments, the loanâs terms (e.g., the interest rate and duration), and additional fees youâll pay, called closing costs (which account for anywhere from 2% to 7% of your homeâs price).
Youâll want to compare your closing disclosure to the loan estimate your lender gave you at the outset. If you spot any discrepancies, ask your lender to explain them.
5. Do a final walk-through
Most sales contracts allow buyers to do aÂ walk-through of the homeÂ within 24 hours before closing. During this stage, you’re making sure the previous owner has vacated (unless youâve allowed aÂ rent-back arrangementÂ in which they can stick around for a period of time before moving).
Youâre also double-checking that the home is in the condition agreed upon in the contract. If your home inspection revealed problems that the sellers had agreed to fix, youâll want to make sure those repairs were made.
6. Bring the necessary documentation to closing
Make sure you have the following items when you head to the closing table:
Proof ofÂ homeowners insurance
A copy of your contract with the seller
Your home inspection reports
Any paperwork the bank required to approve your loan
A government-issued photo ID (Note to newlyweds who just changed their name: The ID needs to match the name that will appear on the propertyâs title and mortgage.)
Plan to sign a ton of paperwork. An attorney or settlement agent will guide you through the process. When youâre done, youâll collect the keys, and you’re finally home free!
The post Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In appeared first on Real Estate News & Insights | realtor.comÂ®.