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What is a Title Insurance and Why Do You Need it

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  Title insurance protects buyers from any issues, such as damages or financial losses of a property. If the previous owners make false claims, this can save you from damages. Title companies ensure that the seller can legally relinquish the property to you. Discuss with your lender what needs to be addressed to ensure that the property will become yours. The title insurance will cover any losses that might occur depending on the loss.   Possible examples of defects that Title Insurance can cover: Forgeries and Fraud Lawsuits, Unpaid taxes, and liens Undisclosed information Mistakes in documents Illegal records Recorded unpaid liens   What does the title insurance Cover? Owner’s Title Insurance Owner’s title insurance covers buyers from any claims before the purchase of the property. Some common risks are: Lawsuits Fraud and forgery Undisclosed agreements that cause the property to be of lesser value Mistakes in disclosures and documents   Lender’s Title Insurance Borrowing money from
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SELLING A HOME WITH TENANTS

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  If you’re wondering if you can sell your property with a tenant still living in the property, the answer is yes. It might be a challenging conversation with your tenant, but selling is legal even when they want to continue renting or leasing the property.   Before starting the selling process, check the rental agreement and see whether it is a month-to-month or yearly lease. Provide your tenant with reasonable notice.   See below for options in approaching how to sell with or without tenants.   Wait Until the Lease Ends Your tenant can live in the property until the lease is over. In San Francisco where there is rent control, the leases are practically eternal leases. Waiting until the lease ends might require patience, but it has perks. First, if your tenant has a low rent, this can affect the price and value of the home. With a vacant house, it’ll be easier to renovate, stage, and market your home without tenants being there. Updating and staging your home can influence buyers’ dec
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Location: San Francisco, CA, USA
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What to Consider when Renovating your Home

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  You’re finally settled in your home and are ready to renovate for your dream home. Renovations are a huge commitment and can be costly, so it’s important that you have a plan before getting started.   Home renovation can be an exciting and rewarding process, but it can also be overwhelming and stressful if not properly planned. Whether you’re looking to update your home’s style, increase its value, or make it more functional, there are several important factors to consider before starting your renovation project.   How Long Does it take?   Ensure you have an alternative living while your house is getting demoed and built because it can take up to 4 – 6 months.   How to get started   The first step in any home renovation is to set a budget. This will help you to determine what renovations are feasible and how much you can afford to spend. Be sure to factor in contingencies for unexpected expenses, such as structural issues or unexpected complications that may arise during the renovati
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HOW TO PURCHASE A HOME WITH LITTLE DOWN PAYMENT, LOW INCOME, AND A BAD CREDIT SCORE

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  Buying a home can be difficult, particularly if you have a low income, little money saved for a down payment, and a low credit score .  However, homeownership is still attainable with the right knowledge and tools. Here are some pointers for purchasing a home with a small down payment, a low income, and a poor credit rating.   Prior to anything else, it’s critical to comprehend how your credit score affects the mortgage application process. Lenders assess the risk of lending you money based on your credit score, which is a numerical representation of your creditworthiness. Lenders may see you as a higher risk if your credit score is low and may be reluctant to grant you a loan. You can significantly increase your chances of being approved for a mortgage by raising your credit score. Pay off any outstanding debts, refrain from establishing new credit lines, and review your credit report for inaccuracies in order to raise your credit score.   Another important factor in buying a home w
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WHAT IS A 2-1 BUYDOWN AND HOW DOES IT WORK?

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  For homebuyers looking to reduce their initial monthly mortgage payments, a 2-1 buydown is a type of mortgage financing option that can be very beneficial.   Here’s how it works:   When a homebuyer takes out a 2-1 buydown mortgage, the lender agrees to temporarily lower the interest rate for the first two years of the loan. This results in a lower monthly mortgage payment for the homebuyer during this time. After the first two years, the interest rate increases, and the monthly payment will be higher. You can leverage a  rate buydown calculator  for more details.   Here is an example of how a 2-1 buydown program works for a home purchase of $1,500,000 with a down payment of $250,000 and an interest rate of 6.5%:   The homebuyer is financing $1,250,000 ($1,500,000 – $250,000). The current market interest rate is 6.5%, but the homebuyer qualifies for a 2-1 buydown program.   For the first two years of the mortgage, the interest rate is 4.5%. This results in a monthly mortgage payment o
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