Answers by Lisa And Greg Harris

1ST - reach out to a local REALTOR who knows the market! The Specifics of the market you are looking to buy in for an investment may vary greatly! So Trust a professional! The next part is deciding what makes the most sense for the budget you want to stay within and what the market stats are showing for the rental properties that are renting and available. This will all depend on what your goal looks like..... Holding for long term, or just long enough to get your own child through school and then sell....

THIS IS AN ATTORNEY QUESTION! I highly recommend you consult a reliable Real estate attorney, outside of the closing attorney you have used to this point!

I highly recommend connecting with a local REaltor Expert to be sure that you price it right, and have the market stats to work for you! Staging is great, but pricing it right with knowing what your competition is doing is key!

REach out to a Local REALTOR expert. They can give you better answers on the market she is looking for for that range. Also, talk to a local lender! They often have 1st time home buyer options and can even get some closing cost assistance and maybe grants for the down payment assistance. When looking at a Mortgage Calculator app, that price range is probably around $165-200,000 range depending on taxes, insurance and what a down payment would look like for her.

I would recommend reaching out to your mortgage company to see if this is an option within your loan. The challenge will be that they will need to qualify for the loan. You do not want to simply have them make payments, because you are still responsible for the mortgage. Also, talk to a local real estate closing attorney to help facilitate the details and be sure it is done legally, or it will come back with repercussions that will not be good!

2 things that will help you! 1- with financing, an appraisal is done to confirm for the lender the value of the home. 2- a trusted local expert REALTOR is key in helping guide you through the process and look at and review the most up-to-date comparable data to reveal the market values that are happening in our fast pace market!

I would 1st recommend interviewing a few local experts to give their opinion on the value and what the local market is doing to determine the best options. Keep in mind we are seeing some areas that are slowing drastically and some that are not and a good local expert REALTOR should be able to keep a pulse on what they are seeing..... With that said, you can choose to list a property higher if you are willing to take the risk of it sitting on the market longer.... Keep in mind if you were a buyer and you saw a home sitting on the market longer than those around it..... What is your fist impression??? Typically you think it is over priced. So keep this in mind when listing a home. and make price corrections quickly if you are not getting activity on the home quickly.

Just be sure that you are able to get the job transfer information for the lender and be able to qualify for the USDA loan options. The amount of income is also something considered in the USDA loan in additional to the location of the home.

Keep in mind anything heated and cooled is typically included in the sq footage as long as it is finished space. AN unfished basement is not. so it needs to be living space. The garage is not included, patios not included. I hope this helps.

SC has been in the top 3 states for the last 11 years for the most amount of moves to our state! Part of that reason is Affordability! The taxes are lower and the cost of living is lower. We have a lot of clients moving to the Columbia, SC and surrounding areas, for the higher-rated schools and the great cost of living! You can get into a newer construction home in this area around 2300 sq ft for around $350,000 on average at this time! Please let me know if I can help!

This is a great question in light of our current headlines! First answer is Yes a buyer and a seller can self represent themselves. 2nd part to this answer is it is not recommended! Here is why..... Over 70+ people will touch a transaction from just before the sale until just after closing...... it is 70+ opportunities to have something go wrong and cost you time, money and frustration! From the contracts used in a particular area, to know the contacts for inspections and how the area due diligence process works, to know the closing attorney or title company to recommend to having someone show you homes and be your ADVOCATE to protect your interest, whether a buyer or a seller! Some of the challenges that come to a transaction even REALTORS have not faced before, yet they have built up a pipeline of connections an contacts to be able to overcome hurdles that the average person would not even know to address in a transaction..... So I would not recommend doing this on your own!

Often School rankings can be a lead indicator of an area. Often an area with better schools hold their values at a higher rate. There are also signs in older neighborhoods if you see homes being renovated and resold for higher values, this is a good sign of re-gingerfication. I would rely on a trusted LOCAL REALTOR to give you some comparables to see if the inventory is rising, days on market are growing and how homes are holding their value. Unfortunately, there is no crystal ball, but these are all helpful indicators!

A 15 year will have a lower rate because it has a higher payment with more going to the principal to pay it off faster. However, I recommend to do a 30-year and just make a couple of extra payments a year and it will be paid off in almost half the time similar to the idea of a 15-year loan, but then if you are in a hardship and can not make the extra payment, than it is not an issue.... But if you can make those extra payments you are in great shape!

1st Supply and demand cause the increase, especially in areas where we are seeing mass amounts of moving into an area to "escape" other areas. The rising cost of building is driving prices, which are also aggravated by inflation. The fact that there are areas, where the inventory supply is low and more buyers want to move to an area than there are homes available is the biggest factor!

To Recast a loan, it depends on the lender and type of loan you have and if the lender allows a large payment option to recast a loan. This will reset the amortization of the loan. But typically requires a large amount of money to put into the loan. Check with your lender to see if this an option.

There are a lot of factors that go into a Repossession or a foreclosure process. It is not as simple as just buying it from the bank. There also are not as many of these on the market and many times the banks have become smart to do renovations to them to get the retail price from the asset. So I would recommend connecting with a LOCAL REALTOR to be able to answer the questions about this specifically for your local market and how the market is with these options. We have very few of these in our current market in the SC area. So see is an agent in the NM area can help answer this about your local market.

I would recommend connecting with a Solid REALTOR in your area, to get the best advice on the pulse of the local market! You are always welcome to make a cash offer. Remember they will typically request the proof of funds with the offer and they do not have to accept it, but a local agent can give you a good idea of what the market is seeing as far as how the inventory is moving in your market.

If you are paying cash and purchasing the home outright, this is an option. If you are financing with a mortgage, Home insurance is required to protect the investment of the home for both you and the lender. The lender will require full home insurance.

I googled her, I looked on Zillow and I looked on REALTOR, I do not see Barbara Murray in Florida as a REALTOR. I would recommend to interview a few LOCAL REALTORS to determine a good fit. Fast Expert can help....

THE HOA all depends on the area and the type of home/ condo. I highly recommend that you reach out to a LOCAL REALTOR to give you better direction on the HOA Details. Some are VERY strict and have high fees, but they are there to protect the home values so that an owner next door does not put a car on blocks in the front yard.... or paint the house purple.... We have some in our area, that are simple and not over the top and we have some that are over the top! So check with your local REALTOR to give you the details. and KNOW before you buy!

I think you are honest and show the work that you have completed and any invoices! I would highly recommend that you reach out to a LOCAL REALTOR that can properly help you set this up for a positive! Often things are done to a home, such as foundation work, and if warranties are in place, it is good to show the work and that a warranty is there to address the issues.

Foreclosures, once completed through the entire process, are listed with a local REALTOR and put into the MLS for maximum exposure. The bank wants the most amount of exposure for top dollar. We are seeing less of these on the market than we have in the past and usually banks are brining them up to a retail condition to sell them in most cases to get top dollar for them.

I would consult a local REALTOR to get te answer to this for the specifics of the area that you are looking to buy! Here on Lake Murray, SC I have 2 investors that are buying them and having great success! But there are areas, that have fallen under great restrictions and it depends on where they are located and the county or neighborhood rules.

YES YES YES! I will always recommend a Home inspection even on a new home! I recently had a client go to sell a 1 year old home and the HVAC was installed incorrectly and not been running properly.... They did not do a home inspection at the time of the purchase. They had a job transfer and put the home on the market....... new buyer did an HVAC inspection and found the unit was shot because of not being installed correctly! And luckily they were within the warranty period, but it was a hard battle to get the unit replaced because of all the finger-pointing! The buyer almost walked away from the deal! DO A HOME and HVAC inspection at MINIMUM!

THIS IS a GREAT QUESTION! As a REALTOR I have seen very smart local lenders actually tell my clients to not put as much down because they may not be staying in a home as their forever home for more than 5-8 years and it does not make sense to put more money down when you can take that money and invest it in other areas for a bigger return! Also, there are recent changes to the lending regulations that may actually penalize some that are borrowing money because it could make your rate higher if your credit score is in a higher bracket. A good Local lender can give you specifics about these options based on the loan type and the amount that you are looking to finance and your credit score! So reach out to a good local lender to determine the best options.

This depends on your ultimate goal. Are you looking to NET more money? Is the renovations that you are doing going to cost more than you would get out of them? Then NO, sell it for the right price based on the condition. Or Are you looking to sell it faster... A Professional Local REALTOR can walk through the home and give you a better direction of the options to get the most from the home sale. Sometimes it is as simple as some paint and flooring and that is all dependant on what is going on in your local market! I would have a local REALTOR come look at the house in person and give you some advice for your specific situation.

This is a great question and some of this depends on the market that you are in, because they are not all the same. I would always consult with a local REALTOR to be sure based on the area contracts. To answer in general, Most loans require that the basics are in place, Items that are ATTACHED! Such as light fixtures, blinds, and Bathroom mirrors. (A picture hanging on a wall is not attached) Some contracts require TV Mounts to stay but not the TV as they can make a large hole in the wall ( Good Rule of Thumb if it leaves a big hole in the wall it is best to leave it there) Most appliances stay with exceptions.... In the state of SC Refrigerators are not required to stay unless written into the contract or unless they are a custom fridge built in with special cabinets. Microwaves that are just sitting on the counter do not have to stay unless they are written into the contract. So ultimately, It all depends on the contract for your area. But these are general rules.

I will say if a yard is clean and well kept and in good condition it gives potential buyers a great 1st impression. At the same time, I have seen some invest too much by ripping out all the grass adding new sod, and doing a complete yard reno and not getting all of that back out of it... So it depends on what you mean by landscaping. I have also seen yards that have $100,000 in hardscape and firepit, outdoor kitchen space, and beautiful flowers in some neighborhoods that get it all back out of the sale, and in other neighborhoods, it only helps them sell it faster, but not for more Money. So I would highly suggest having a local REALTOR look at the details of what you are thinking for landscaping.

This really depends on your ultimate goal..... Is it is to be debt free than pay the extra on your mortgage or any other bills. It would be difficult to invest just $200 a month to get a large return on that unless you have a large sum of money to invest all at once. However, if you are paying a total of 2 extra full payments a year on a 30-year mortgage it can cut it in almost HALF! So that might be a better option to accomplish debt free.

In many states including the state of SC, an appraiser does not add ANY value for solar panels. It is also harder to sell a home with solar panels if money is owed on the solar panels. The buyer must qualify for the home payment and the solar panel payment and this adds to the debt-to-income ratio and many buyers are not able to qualify for both payments in many cases. It also voids the warranty on most roofs and can be an issue when looking to replace the roof as well. In SC I DO NOT recommend it. And Most people are not living in their homes long enough for it to pay off in the long run with any savings.... they are really swapping one bill for another. I have sold a few homes with SOlar Panels and the liens were required by lenders of the buyer to be paid off in full as a lender requirement of the loan as well.

I would recommend you reach out to a trusted local agent to connect you to an agent in the country you are looking to purchase. Each country has its own laws and finance options. So this all depends on where you are looking to purchase. I have connected many buyers to agents in other countries to meet their real estate goals. I always make sure I connect the buyers with an agent that is an expert in the area they are looking and a specific niche to make sure it is a good match.

There are a few follow-up questions to this.... are you doing the flipping work yourself or are you only investing the money to have someone else do the work? Some it depends on what you are trying to accomplish. Are you holding it for rental or selling it as soon as the flips REmodel work is completed? What kind of budget are you working with to accomplish this goal? FLipping can be accomplished in many places, but it really depends on how you want to accomplish this goal. I see this happening in many markets and in many price points as well.

Wholesale is when an investor puts a home under contract with an owner and then finds a buyer of the contract without it actually going in their name. There are often not agents involved. there are some states that are taking steps to highly regulate or outlaw this practice as they are "practicing real estate without a license" There are more factors than just these steps, but this is a basic idea.

I would recommend reaching out to local Mortgage Brokers or a local REALTOR that can recommend local options. Many times there are county grants or there may be programs that are forgivable loans for veterans or First responders that are available. These are typically local to a state or region.

In real estate, you typically get the most value out of Kitchen and bathroom remodels. But exactly how much depends on the area and the average price points. A bathroom remodel in California or Florida may not reveal the same investment value as a home with a remodel in South Carolina. The price points on the homes are completely different. I would recommend reaching out to a local REALTOR in your specific market to get a better idea of this value based on the local market that the bathroom remodel is taking place.

I see you are in Ponte Vedra Beach Florida. This is truly a market-specific question. If yo uare located in an area where the homes are older and many have been updated, it might help to increase the overall values. I work with clients locally to give them an idea of the best place to invest in their home to get the most out of it at when they go to sell the home. I would recommend reaching out to a local REALTOR that can specifically give you an idea of your market to not over-invest and get the most out of your remodel project.

I see you are in California. This is truly a market-specific question. If you are located in an area where the homes are older and many have been updated, it might help to increase the overall values. I work with clients locally to give them an idea of the best place to invest in their home to get the most out of it at when they go to sell the home. I would recommend reaching out to a local REALTOR that can specifically give you an idea of your market to not over-invest and get the most out of your remodel project.

A lender uses the debt-to-income ratio to determine the ability to qualify for a home loan. Most lenders have requirements of certain percentages based on the type of loan the buyer qualifies for, such as a VA loan, an FHA loan, Conventional loan. It is the total of all of your creditor bills compared to your income. In most cases with most loans the DTI or Debt to income ratio needs to be below 52% but it is all based on the lender requirements and the loan types.

1st work with a Knowledgable local REALTOR that can help you price the home correctly to not SIT on the market and still get top dollar! 2nd have them do a video walk-through of the home while it is in good clean condition at the time the listing pictures are taken and have that shared with the potential buyers so that they have a good impression of the home before ever walking through it. Ask for notice of showings so you can be prepared for showings. do an open house the 1st weekend it is on the market and ask the showings to come to the open house. With Small kids, make it a game to have them help. Reward them with a treat if they help keep their toys put away. When prepping the home, start packing things that you are not using that season. If it is summer, pack anything that is winter related and box it up! Put it in storage. A good local listing agent will help you with all these great tips and MORE!

Depending on how your contract is written with your local Real estate expert, it could be a condition of the contract. Not required. However, I will say it depends on the circumstances. Sometimes it is as simple as a home is worth what someone is willing to pay for it (within reason) So if it is to help you determine the value of what you are buying go for it. A local REal estate Expert can help guide you to determine if this is right for your situation.

This depends on several things. The area and location. The age of the home - historic homes often do not have to have a closet. The egress of a window and door access and having a minimum of a 5-foot clearance at the edge of the room.(such as a bonus room with slanted walls) A good rule of thumb is if you can not put a twin-size bed in the room with walking space around it and it has a window and have a closet or room for a wardrobe.... than it might not be considered a closet. A Local REALTOR or Appraiser can give you more local requirements.

Curb appeal is Important. But overdoing it is not something that you want to do either. A local Real estate Listing expert can most likely look at your specific situation and give you a better direction of what to do and not do.... But big things, basics green grass and trimmed and neatness is always good. I also read that yellow flowers help sell a home faster..... So look at your yard compared to those in the neighborhood does it stack up?

It is very normal. Many lenders have a secure online option to upload sensitive documents. Of course, I always recommend a good local lender because they are more aware of the local taxes and items that are most important to the process. But please pick up the phone and connect with them to get questions answered and make sure you are getting all the answers you need each step of the way!

These are 2 different lifestyles.... A house has different maintenance, a yard, a roof, and things that require more money of upkeep over time. A Condo has association dues that are typically paid monthly that cover those costs. But the difference is what works for your lifestyle. Do you live a busy life and do not want to mow a lawn? Do you have the budget to pay the additional HOA or regime fees that come with a condo? Those will be personal decisions that might help to answer this question...

There are multiple things on a real estate contract that can be a contingency. A contingency is a condition of the contract or even a loan requirement. Contingent on the appraisal - meaning it has to appraise for the contract price. Contingent on a sale of a home - meaning the buyer needs to close on their current home to purchase the next home. Contingent on a Clear CL100 Inspection Letter - Many VA or FHA loans require that there is not termite or water damage to a home to have this inspection clear for financing. So a contingency is a condition of the contract or loan that needs to be met to close the home.

This depends on where you are located and what type of taxes you are referring to for the purpose of the sale. In SC we have deed stamps which is like a sales tax for the sale of the home. And then you have the proration of the property tax depending on the time of year of the sale. And as far as income tax that all depends on the specific sale and I recommend you talk to a tax professional about your specific situation.

In many cases, it is a smell that is caused by moisture, mold or mildew often in a crawl space, so start there and make sure there are no issues there. And cleaning carpets, ductwork and fresh paint often help with many of the smells as well. I would recommend having a local REALTOR look at your home and give you a good direction of the next steps and recommend some good local vendors to help with these issues.

If you are referring to the buy and sale history of a home, that can be found in a few places, such as the county tax records for the property or a real estate agent and have them look at the Multiple Listing Service and see the history there. If you are referencing a Historic Home.... That can be in the historic registry fo the area. and I always encourage my clients to google the address. One of my investors found out the a home was a known drug activity house previously by seeing the google activity that come up with the police calls to that address.... You never know what you can find...

It does not hurt to get an estimate on what Granite Countertops cost in your local area. I would also recommend reaching out to a local REALTOR that knows your market and have them look at the home and give you better specific advice based on their local knowledge of the market to be sure that what you do gets you the best return on the investment based on your market activity. There is also a company called Curbio that might be an option that will help with updates and then you pay for it with some interest when the home sells. A local REALTOR might have some of these options to give you the best results. If you need a connection I am happy to help.

I have actually recently looked into this information personally for myself. With regards to a US lender, no they will not finance a property outside the US. In many cases, it takes Large down payments in other countries and you are working with banks or lenders in those countries. The rates and fees are much higher than the loans in the US. I would recommend reaching out to a local REALTOR in that area to be able to have them connect you to a local option and get more details for that specific area. I looked into this specifically for the Caribbean and possibly some of the areas of Mexico that are high tourist areas for an option to be able to AIRBNB the property. I also found there are different requirements in different areas for a US citizen to be able to purchase in other countries and areas. So ask for those details from a local professional as well.