Home Buying Tips

Who Draws Up the Purchase Agreement for a Home That Is For Sale by Owner?

kutubQ/iStock The seller’s agent is typically the person who draws up a purchase agreement, but what happens if the home is for sale by owner (FSBO) and the seller isn’t represented by a real estate agent at all? A FSBO situation can occur in a seller’s market or when homeowners want to maximize their profits by not having to pay […]

Jack Jenkins Homes | Sep 27, 2017

When Does a Real Estate Contract Become Legal and Binding?

  Lighthousebay/iStock   After a seller accepts a buyer’s offer to purchase a property, it’s time to make it official, in the form of a real estate contract. This document is prepared by a conveyancing melbourne lawyer and is one of the most important steps in the home-buying process, as it clears the way for […]

Jack Jenkins Homes | Sep 27, 2017

Is a Mortgage Pre-Approval Letter Necessary to Make an Offer on a House?

BrianAJackson/iStock Is a mortgage pre-approval letter necessary to make an offer on a house? The short answer is no. However, if you want your offer to be taken seriously and to stand out from any competing bids, this little piece of paperwork can really give you the edge. “While you do not ‘need’ a pre-approval letter from your lender […]

Jack Jenkins Homes | Sep 22, 2017

What Does Contingent With No Kick-Out Mean? A Clause That Affects Your Offer

Kenishirotie/iStock “Contingent with no kick-out” is one of those real estate clauses that can be attached to a buyer’s offer on a house. Like active or sale pending status, a house marked with this clause can give buyers a sense of whether or not the house has received an offer and how close sellers might be to closing […]

Jack Jenkins Homes | Sep 22, 2017

How Long Is Mortgage Pre-Approval Good For?

MattKay/iStock If you want to show sellers you’re seriously interested in buying their home, getting mortgage pre-approval is a critical first step. It proves that, after digging through your financials, a lender is willing to give you money to buy a house. “Getting pre-approved is a great way to differentiate yourself when making an offer,” says Linda Walters, […]

Jack Jenkins Homes | Aug 9, 2017

Buyer Blocks: 4 Factors Keeping Millennials From Owning a Home

mj0007/iStock Since the market crash, many prospective first-time home buyers have been fighting an uphill battle on their path to homeownership. Certainly it isn’t for lack of trying. While millennials might be the largest group of first-time buyers, according to the NAR, they face a whole slew of daunting challenges before they can sign on the dotted line. […]

Jack Jenkins Homes | Aug 3, 2017