Author: Tammy Gordon

Proof of Funds Letter for a Real Estate Purchase: Why Home Buyers Need It

Is your Realtor asking for proof of funds? What is proof of funds in real estate anyway? When you’re buying a house, a proof of funds letter is a document that proves that a home buyer has enough liquid cash to purchase a home. It’s essential paperwork that all home sellers will want to see, so home buyers shouldn’t feel prepared to make an offer without one.

Basically all buyers need to provide a proof of funds letter. Even if you’re getting a mortgage to finance your home purchase, you’ll still need enough money for a down payment (ideally 20% of the price of the house) and closing costs (an additional 3% to 4% of the home’s price).

Read more HERE.

What To Do When Sellers Leave Their Junk Behind

What happens when the seller leaves behind more than a few cardboard boxes and cleaning supplies? Having to deal with a refrigerator full of rotting food, a piano, or pricey sports equipment is not easy—especially when you’re in the process of moving your own stuff in.

You might be staring at piles of junk and wondering how the heck you’re supposed to contend with it all. Who owns all that stuff? Are you allowed to just get rid of it? And, what could you have done to avoid getting this mess in the first place?

Find out HERE.

This Is the Most Profitable Home Improvement—Can You Guess What It Is?

The most profitable improvement homeowners can make to boost their resale value isn’t as sexy as a kitchen with marble counters and stainless-steel appliances, as practical as a dedicated home office, or as fun as a backyard pool or hot tub.

Instead, the work that pays off the most is refinishing or replacing the home’s hardwood floors, according to a recent remodeling impact report from the National Association of Realtors®. Homeowners recouped about 147% of their investment for refinished floors and 118% of what they spent on new flooring when they sold their homes.

Read more HERE.

13 Types of Home Inspections: Are You Getting the Right One?

Most homebuyers know that no matter how much they love a house, they should get it inspected before closing the deal.

Homebuyers often add an inspection contingency to their offers, which lets you back out of the deal if a significant problem is revealed.

Given how an inspection can protect buyers from a lemon, it’s no surprise that most homebuyers get one done. However, do you know what type of home inspection you need?

Find out HERE.

DIY Projects That’ll Make Your Home Much Harder To Sell

So many DIY kits, tips, and tricks seem like a great idea when we see them in our social media feeds. But in the hands of a novice, such projects can go badly awry, look unfinished, or be abandoned altogether if the homeowner runs out of steam.

Ultimately, rather than save you money, these DIY projects can end up costing you when it comes time to sell—because buyers will steer clear or lowball you, due to what they see as cheap or substandard work that they will have to pay to fix.

Here are some of the most popular DIY ideas that experts say would make your home harder to sell—whenever you plan to make the move.

4 Common Culprits of a Smelly Dishwasher (and How To Fix Them)

Maybe you’ve recently cooked up an abundance of dishwasher-clogging meals. Or perhaps you are finally admitting that your dishwasher has reeked like a smelly sock for over a month. Whatever the case, we’re here to help you banish the nastiness from your dishwasher once and for all.

Here are four common causes of smelly dishwashers and tips from cleaning pros to send the stink on its way.

If You Inherit a House and Sell It, How Are the Profits Taxed?

If you sell your house and make a profit, you must pay capital gains tax—so does the same rule apply when you inherit a house from a deceased relative? The truth is that inheriting property can be taxing—both emotionally and financially.

The amount you must pay when you sell an inherited property can indeed take a toll on your bottom line. But before we discuss the details, let’s take a closer look at what capital gains tax actually is.

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