5 Common Myths About Home Appraisals That Aren’t True

So, you’ve found the home of your dreams! Before you pop the Champagne, you’ve still got a few steps before the deal is done. One of those is the home appraisal.

If you’re getting a mortgage, your lender will order an appraisal to have the property’s value professionally assessed. This helps ensure that the home is worth enough to serve as collateral for the value of the loan. That means the home must appraise at, or above, the agreed-upon purchase price.

It seems straightforward enough, but the process can be confusing, especially for first-timers. Here are five common myths about home appraisals.

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Should You Buy a New Home Before Selling Yours?

For many, it’s an enviable situation: You own a house and have the ability to buy a new home before selling your current place.

But even if you have the cash — or can qualify for a second mortgage — you’ll want to consider a few pros and cons before making the offer. One big consideration: In a seller’s market where houses are going for (or even above) list price, making an offer that’s contingent on the sale of your current home can make it difficult to compete against first-time buyers.

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How to Find the Perfect Tenant: Tips for Renting Your Space

If there’s anything the Airbnb economy Keyshas taught us, it’s that there’s money to be had in renting out houses and apartments.

With interest rates low and the rental market strong, some enterprising Americans are buying up properties and taking on tenants. It’s big business: Landlords and real estate investors lease roughly 44 million single-family homes and house 60 million people, a recent study by Real Property Management found.

The best way to be a successful landlord is to be prepared — for tenants who don’t pay rent, noise violations, and property damage. Evicting a terrible tenant can be tough, as many states and municipalities have landlord-tenant laws that favor renters. Here’s how to find the perfect tenant — and get it right the first time.

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