Purchasing a new home is a very exciting event, but once people close on the deal and move in, many forget to take some simple measures to ensure that the house is as safe as possible. Taking a little bit of time to do several things can protect you and your family for years to come.
Re-Key All of the Locks
You'll receive a set of keys for your new house at closing, but you have no way of knowing if you are in the possession of the only keys for your home.
When aspiring homeowners look to purchase a home, they generally look for properties that are for sale by the owner, or from a realtor. Buying a foreclosed home comes with considerable risk, but you can eliminate this risk by paying close attention to how you search for foreclosures and analyze them.
Using the tips below will help you buy a foreclosed property with complete confidence.
Hire a Realtor with Foreclosure Experience
Most realty agents charge somewhere around 6 percent of the total home price for selling houses. This percentage includes both commission and fees, and it amounts to a significant amount of money in most cases. Although you might have to use a real estate agent if you want to get your home sold quickly, you don't necessarily have to pay that 6 percent. Use these two creative ways to get your real estate agent to cut their percentage when selling your house!
Renting a new apartment can be a very exciting and fun experience, but there are a few precautions that you will want to take before moving in. By inspecting your apartment thoroughly before moving in, avoiding doing any basic repairs yourself, and purchasing increased renter's insurance, you can avoid any costly apartment charges or losses.
Inspect the Apartment Thoroughly
One part of the apartment rental process that many people try to rush through is the apartment inspection.
Do you have a property that you want to sell? Are you facing a substantial capital gains liability on the property? You may want to sell the property under something known as a 1031 exchange. A 1031 exchange is a transaction allowed by the IRS that gives seller the ability to exchange one property for another without facing any capital gains tax. The catch is that the proceeds from the sale of the first property must go into the purchase of the second property.