Real estate transactions can be confusing and difficult to follow if you do not fully understand the terminology that is commonly used. At HomeLink Realty, our goal is to help you through the home-buying and home-selling process in a way that helps you understand each step of the transaction. That is why we provided a list of common terms below that you might encounter throughout the process.

 

Financial Terms

Appraisal - An unbiased, professional opinion of the value of a property.

Closing Costs  - The fees and expenses that are associated with finalizing a real estate transaction.

Debt-to-Income Ratio (DTI) - A number used by mortgage lenders to determine affordability. If your monthly debt payments are $2,000 and your gross monthly…

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As the market begins to shift again, home buyers and sellers are starting to see more open houses in their local real estate markets. An open house provides multiple benefits to both home buyers and sellers. Regardless of where you are in your real estate journey, consider how an open house could help you move forward. 


Benefits to Buyers

1. Get to Know the Neighborhood

Attending an open house can be a great way to get to know the neighborhood. YOu can quickly and easily get a sense of how noisy or quiet the area is, any available amenities nearby, and the kind of people who live there. You can also get a better feel for the types of homes and neighbors which can provide a better idea of what life could be like in this particular…

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When the real estate market is experiencing low supply with high demand, being intentional as a home buyer is incredibly important. As a buyer, there are multiple reasons why pre-approval can help you move forward in the home buying process. Essentially, being pre-approved means that a lender has examined your finances and determined how much home you can afford. This also lets your real estate agent know that your finances are lined up, and you are ready to purchase your home.

 

The Benefits to being Pre-Approved

 

1. Bargaining Power

It is quite common in today's market for there to be multiple offers on a listing. Being pre-approved lets sellers and their agent know that you are a serious buyer and are qualified to purchase their…

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When you are buying a home, a home inspection is an important step in the real estate process. Essentially, a home inspection is a visual evaluation of a home. The inspection will ultimately tell you more about the home's actual condition which will allow you to make an informed decision before you purchase.

Benefits of a Home Inspection

1. Home Problems

Home inspections can determine any current problem the home may have such as code violations. Your home inspector will make it a point to pinpoint defects, safety concerns, and potential threats. After doing so, they can provide suggestions on how to deal with these issues.

2. Buyer Confidence

Having a home inspection can improve your confidence as a buyer in the home. By knowing what…

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Though the current real estate market is moving quickly, the process of selling your home is anything but easy. Because of access to do it yourself websites, there are those who think that selling their home without the help of a REALTOR® is the best route to take. 

Having a REALTOR® sell your home will ultimately work better for you in the long run. REALTORS® provide a number of benefits to you when it comes time to sell your home. That is why we have taken the time to list the top 5 reasons you should work with a Realtor. 

 

1. Experience & Expertise


While some people may only go through the home buying or home selling process a few times throughout their lives, REALTORS® make it their business to help people buy and sell homes.…

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Quick and Easy Ways to Prep your Home to Sell

Today's real estate market moves quickly, and it is quite common for a home to only be listed for a few days before its is under contract. Despite the fast-paced rate the industry is moving, selling your home is not necessarily any easier. There are still a number of things that you, as a homeowner, should be prepared to do to get your home ready to sell.

1. Declutter and Clean

Your home makes a first impression, and if you are selling, you likely want it to be a good one. People often want a home they are buying to feel spacious, so it is important to declutter your home before you sell. Try not to shove items into closets, cabinets, attics, or basements because buyers typically look in these…

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