Buying real estate is a serious investment that requires your utmost devotion and attention. With so much real estate on the market currently, we can only conclude that the competition is harsh, so it is essential to keep your eyes peeled when you are about to get into such an adventure. Consulting my AskImma Giocoli YouTube channel is an excellent starting point because I like sharing my sound real estate knowledge with you. To be honest, having a professional and experienced real estate agent in the process is the best strategy to have a successful purchase,  get the best value for your money and avoid getting tricked.

Ignore your emotions when making a purchasing decision

When deciding on whether to buy certain real estate or not, not allowing your emotions to make the decision for you is essential. This is particularly important when you are buying your first home and you are not experienced with the purchasing process. Keep a cool head, analyze the real estate data carefully, and then make the final choice. Otherwise, you risk making hasty decisions that are not based on numbers and careful calculations, which can eventually lead to paying for things you shouldn’t be paying for. And remember, this is something you mustn’t let happen by any means!

Doing the math is a must!

As I have stressed for so many times so far, doing the math is critical when buying real estate. Be very careful and focused and be diligent. The numbers will tell you easily whether you are making a reasonable and intelligent decision or not. If you underestimate the importance of numbers, your budget might suffer some serious consequences very soon because it might be too late to pull out of the deal. Think smartly and do not let this happen.

Also, be very careful when investing in new construction condominiums. Have your real estate agent explain everything to you in detail regarding the pitfalls of paying sponsor/developer closing costs. These costs are most often significantly higher than usual and, lately, they have been frequently pushed off to the buyer. They add 3% to your purchase. On a million dollars, for example, you will have to pay an additional sum of $30,000, which, you would agree, is pretty high. And not only that! This will add to your costs later as well when you eventually decide to sell your real estate. If you feel comfortable with paying more than you should, ignore all this. But, I strongly believe that is not the case.

Negotiate the property purchase

If you do not want to be tricked when buying real estate, you have to be suspicious about everything that sounds too good to be true because, trust me, it probably is. Hence, pay close attention and double-check all the relevant data regarding the purchase conditions. Then, you will be able to negotiate for the best option available in the NYC real estate market or wherever you want. Negotiate the terms that suit your financial circumstances best and do not give up on your interests. Chances are, you will be able to find a simple way to move anywhere in Brooklyn or any other NYC neighborhood once you find the property you were looking for.

Find a real estate agent you can trust

Considering the amount of information, various calculations and the numbers you have to bear in mind when buying a property, this process can be a really heavy burden to a complete amateur in the real estate business. Hence, I strongly recommend hiring an experienced, respectable, and competent real estate agent who can provide you with a decent explanation of all the procedures and crucial data. Remember to hire an agent that will surely be on your side and protect your interests in the purchasing process. An endeavor like this demands professional assistance. A reliable real estate agent provides you with peace of mind and the necessary safety similarly as quality packing boxes make your items safe when the time for relocation eventually comes.

Figure 3 Make sure the real estate agent is on your side. Alt.tag: A handshake.

Feel free to reconsider your decisions

There is so much quality real estate out there waiting for proper buyers. Do not feel obliged to rush your decision and buy something at any price. This is neither the best nor the smartest strategy to go for. Be patient and wait for the moment when you find a property that meets all your needs, requirements, and perfectly fits your budget. There is no reason for you to feel nervous or fear you may not find exactly what you are looking for. Instead, reconsider your decision several times to make sure the offer you have found makes you feel comfortable and satisfied. If it eventually turns out that this is not the case, continue following the real estate trends and wait for the right moment. It is just a matter of time when you will come across the property of your dreams.

Don’t get tricked

Finally, remember all the above-mentioned pieces of advice. I have tried my best to make you focus on the key parameters when making a purchasing decision. Buying real estate is a serious investment and it requires caution, commitment, and undivided attention. Of course, never forget to do the math because numbers matter a lot. Actually, they are crucial since they hide the secret of how successful and favorable your purchase would be. Having a professional by your side is always a benefit, but choose your real estate agent carefully and do not let yourself be tricked by those in disguise. Demand transparency when making a deal and you will succeed.

Always work with a professional and ethical Broker like “Imma” Immacolata Giocoli at Tyler Vincent Real Estate. “For ALL things Real Estate”.

Photos used

https://pixabay.com/photos/thinking-person-person-thinking-2681494/

https://pixabay.com/photos/calculator-calculation-insurance-385506/

https://pixabay.com/photos/purchase-house-house-purchase-3113198/

https://pixabay.com/photos/thinking-young-woman-portrait-3082823/

Weekend Q and A on Passive Income

Passive income is a great way to add a certain amount of additional funds to your monthly budget. How big of an amount we are talking about, depends on the type of business activities you opt for. One great example of passive income is investing in rental properties which are a bulletproof way of ensuring there’s always money pouring into your pockets on a monthly basis – with you putting in little to no effort. Since last week we covered the topic of passive income, I thought it would be good to do some weekend Q and A. And the questions were certainly interesting ones.

For any additional questions and inquiries, you can contact me, Like Imma, Broker Owner of Tyler Vincent Real Estate Inc. My office is located in Carroll Gardens and consultation with me is completely free. You can feel free to find me on the Internet, send me a text message on 917 5699 881 or call my office line at 347 457 63 64. All the valuable information I have to share is available right at your fingertips.

Question number 1 – how do I go about getting the down payment to purchasing a property with no money down?

That’s actually a great question. There is no doubt that the down payment has to come from some source of income. Perhaps you have a savings account you have opened a few years ago. Maybe you would like to turn to your retirement plan. No matter which source of money you decide to use, you have to carefully calculate the money you could lose on return. It’s very important for your investment to pay off, otherwise, you are just wasting money and not getting any profit back.

Do your calculations in advance and figure out whether this investment will be a worthy one. / a calculator on a piece of paper

With no money down, there’s a couple of places you can look. If you are on the North-East coast and are located in the Tristate area which is composed of New York, Connecticut, and New Jersey or, more precisely, your location is in New Jersey, you have the option of getting 100% financing. Please bear in mind that this depends on the state you live in. You will have to check with your local bank and mortgage brokers in order to check whether they offer any financial aid.

If you are a veteran, know that you have the right to a VA loan. Veterans are permitted to buy two-family homes and as an experienced NYC real estate agent that’s what I would highly suggest. If you are not a veteran, perhaps you could choose one as your partner? He will qualify for the financing and you could split all of the expenses. It’s not very hard to obtain passive income – you just have to get very creative.

As already mentioned, you can make a purchase with as little as 10% down on a property! Let’s take a real-life example. If you are looking in places like Middletown, New York, a two-family house is in the range of about 230.000 to 240.000 dollars. The rent roll would be fantastic for a place such as this one. Your return can be upwards to 20% on a CAP return, so there’s no need to look anywhere else. Your money will be making money, giving you no reason to broaden your search.

Once your money starts making money, you’ll start looking into other options of passive income. / a woman doing an analysis of passive income

Bear in mind that I have only spoken about the NYC area. You will have to take a good look at your state, find some money or simply opt for OPM – other people’s money. Simply google your options, as the Internet is a marvelous place. While you shouldn’t use it for diagnosing yourself for any illnesses, you should certainly use it for a wide range of searches. From looking for reliable movers such as ipsnycmovers.com to looking at matters such as this one, don’t be shy to use the Internet to your advantage.

Question number 2 – how can I select a great partner?

Indeed, how can you find out if your partner is fabulous? That’s the second question I got on this week’s Q and A form. As the number one thing, I would definitely suggest you pick a partner with the same work ethic. And secondly, you want to find a partner that’s going to put in dollar for dollar aka the same amount of work and money as you. Some good questions to ask yourself are:

• Will they work as hard as you?
• Are they willing to do the hard and greasy work if the contractors fall behind?

If the answer is no, then you are not looking at a potentially good partner. You need a partner who will not only be equally committed to the work ahead, but you also need someone with the same financial capabilities. Of course, your partner doesn’t have to be your twin. There are some things that can differ, like skill sets.

Your partner doesn’t have to be your exact match – unless it comes to work ethic and finances. / two people shaking hands

One of you might be great with collecting the rent, the other one could have great Excel skills, all of which will lead to your successfully buying your first property together. Skill sets are where you can balance out your differences, but not when it comes to money. You both need to be equally invested.

And that question would conclude this week’s Q and A. However, I strongly suggest you stay tuned as there will be more videos uploaded on my YouTube channel. After a short business trip where I will meet with some clients, I will film more interesting vlogs for you. You’ll be able to find answers on not only passive income but also many other topics that might be of interest to you.

Tyler Vincent Real Estate is always available for ALL of your Real Estate needs.

Call Imma directly and start your journey to passive income.

By: Betty White

Dear Readers,

I love Sundays, the reason is simple it gives me an opportunity to work with buyers who are considering new place to live. For some it is a first time purchase which is the part of this business that I love. For others it is a move, a move into new space, a place for a changing and growing family and I welcome being a part of that.

Buying a larger home or a first home are both big decisions. Sunday is my funday, because I get to take out my buyers and growing families and begin the journey to their new life.

Selling Real Estate can be a rewarding business, it is not all about the money, the money comes after a job well done. The feeling of accomplishment comes when your client’s find exactly what they need and I was a part of that.

Trust your buyer’s agent to know you, to hear you and to guide you… after all it’s what we do.

Enjoy your Sunday funday and make it a great one!

Best,

Imma Giocoli

For years, banks have been the traditional mortgage lenders. You simply apply for a mortgage at the bank you already have accounts in or compare the interest rates and terms in other banks. However, what happens if you don’t qualify? Whether it’s your credit history (or lack thereof) or the inability to afford a down payment, know there is a way out.

The good news for you is that banks aren’t the only financing source of mortgages. These options are best explored with the help of a mortgage broker, as they know where to go. Once they find entities that are willing to take higher risks than traditional banks, you’ll easily get a non-conventional loan. Read on to explore these additional financing options or watch the video on my Youtube channel which covers this topic.

Reasons for changing your financing source

As the mortgage industry has grown more competitive in the past few decades, we’re seeing a plethora of financing options when it comes to choosing a home loan. And although a non-traditional financing source is usually associated with high risk, it’s doesn’t always have to be the case. Take a look at the most common reasons why you may want to switch to one of the out-of-the-bank options.

First of all, there are the financial criteria – here we mostly think of bad credit reports. Do you have a few debts which weren’t paid in a timely manner? Banks won’t care whether it’s because of a difficult time in your life or just a result of innocent oversight. Because of that, they might decide you’re not a good candidate to extend credit to. That’s where non-bank lenders step in to fill the void. They are more willing to turn a blind eye on your poor credit history and give you a second chance.

Then, some people may be in a temporary situation when their income is currently lower than it will be in the future. Non-bank lenders will find a way around this and tailor their services according to your personal needs, being more accepting of your situation.

Furthermore, your loan application will probably be processed much faster, allowing you to speed up the pre-approval process as well. All things considered, with an unconventional financing source, it’s easier to find peace and tranquility which is so rare during the home buying process.

Seek professional advice

For most people, buying a property is a serious decision and the biggest purchase of their life. However, no matter how much you’ve researched the topic on the Internet, professional help is necessary. This especially holds true if you’re buying your first home and have never dealt with real estate before. Don’t fall into the trap of thinking you’ll save money by going the DIY route. While it may be so momentarily, in the long run, a broker’s advice is invaluable.

It’s the same when you’re moving – is it better to consider renting boxes made from plastic than use cardboard boxes? Yes, cardboard boxes may be cheaper, but are they as versatile and eco-friendly? That’s why you should make the decision which will be wiser in the long run.

How to tell if a broker is reliable?

Keep in mind that your broker should be proactive, share their advice and knowledge and be your guide during the process. It should be someone who has been following real estate trends for years and has a year-to-year comparison of the market that you might lack. You don’t want a passive broker who will scroll Zillow for you – you are perfectly capable of doing that yourself.

When it comes to NYC, you’ll want someone who’s local and knows all five boroughs, like Imma, Broker Owner of Tyler Vincent Real Estate Inc. Conveniently located in Carroll Gardens, she will provide you with free consultations that are of immense value. There’s no reason to go in alone when you can have all the benefits of professional help by your side.

 What kind of financing options are there?

Depending on your individual situation, your broker will make sure to match you with the right financing source. Among the plethora of options, here are three of the most popular ones to give you an idea:

• Full-feature home loan – This flexible loan comes with all the features for your needs. Whether it’s additional repayments that will enable you to pay the loan quicker or reduce the amount of interest, you can have the whole package.
• Low doc home loan – This type of loan is the best option if you are self-employed or unable to prove your income through traditional means.
• Split rate home loan – This kind of loan allows you to pay one half of your loan at a fixed rate and the other at a floating interest rate.
• ARM loan – Otherwise known as an adjustable-rate mortgage, it provides the option of changing your rate periodically.

Are non-bank mortgages safe?

There are many misconceptions around nontraditional financing sources such as non-bank mortgages. Banks as government institutions are widely recognizable, hence people instinctively feel they are more safe and trustworthy. On the other hand, out-of-the-box options may seem obscure as they don’t carry the same status or brand recognition as the big shots. That right there is the core of the unfounded belief that they are not to be trusted.

In reality, borrowing from these unconventional sources carries the same amount of risk. The important thing is to do your homework before approaching any lender. Look for those that are regulated by credit laws, not connected to bank failures and those that seem safe while researching their options. However, gut instinct isn’t enough if you don’t have enough knowledge, so it’s best to let professionals help you in this endeavor.

Contributing Writer – Betty White

We’ve been talking a lot on Ask Imma about renting vs. buying, about rent vs. mortgage, and all the differences between them. So, when something came into my inbox these days it sort of popped my attention, as it was exactly in line with what we have been talking about, only it was using a lot of acronyms. People aren’t really aware of these acronyms unless they’re in the business or have already been through the process. In this post I’ll explain one important acronym that stands for a difference between buying and renting, so you can see that there’s nothing to be afraid of. 

P.I.T.I.

Well, basically, the difference between rent vs. mortgage is a P.I.T.I.  That stands for principal, interest, taxes, and insurance, which are all clumped into your mortgage payment most of the time. Unfortunately, that can easily scare someone, as it can shed a negative light on going from renting to buying, and I don’t want that to happen, as there’s no need for it. I wanted to jump in because a lot of people are receiving these solicitations in their inboxes, they’re reading them, and it’s making them a bit more afraid to contact a high-quality moving company such as tiktokmoving.com and move forward with their home-buying process.

When you’re renting, the only security you have is that you can bounce around – if you can call that security. There really is no other security in renting, so it’s like putting your money in a fire pit. But, when you purchase a home and you decide to make that transition into homeownership, the home will be yours. It’s yours and, yes, that’s a commitment, for the next 30 years you and the bank are basically going to be married. However, buying a home means that you’ll be paying yourself, you will be going toward keeping that roof over your head.

Instead of wood imagine your money was in this fire, and you’ll get a good idea on who is the winner in the battle of rent vs. mortgage.

At any given time, the landlord can decide to sell that property and vacate it. On the other hand, the only person who is going to vacate you will be you, by not paying your mortgage on time. The bank will then, in essence, foreclose on a home as a byproduct of your failure to pay.

What do these terms mean?

But, there are so many advantages to buying vs. renting a home that I think it’s really important to not get caught up in the acronyms that you’re not familiar with. A lot of people get afraid, especially when it’s an acronym called a P.I.T.I. Well, it’s surely not a pity to own a home. Buying your first home certainly doesn’t have to be scary! However, principal, interest, taxes, and insurance are a part of the mortgage, so let’s talk about these terms to see what they mean.

Principal and interest payment

Let’s begin with P. in P.I.T.I. Principal payment is basically the amount of money you’ve borrowed from the lender, that you’ll eventually need to pay back. On the other hand, the interest payment is what makes it profitable for the lender to lend you the money; it’s the amount that the lender will earn from your deal.

Insurance

Think of insurance as a sort of investment. Alt text: Three increasingly larger stacks of coins, and a wooden house next to them.

However, principal and interest payments are not the only things that go into your monthly payments. There are also homeowners insurance and taxes that are kept by your mortgage company in an escrow account. A lot of lenders will require that you use an escrow account, as they want to be sure that you’ll be paying your insurance money and taxes regularly. This also makes it easier for you to stay on track of all the payments. Instead of paying a large bill once or twice every year, you’ll be paying much smaller monthly payments, making it easier to plan your budget while making sure that you can afford your beautiful home at any given time.

The homeowner’s insurance includes hazard insurance and personal liability insurance. This covers the home itself and its contents. While this is a fee that renters don’t have to pay; accidents, unfortunately, do happen. So being protected can be very useful. In fact, having homeowner’s insurance is really just another advantage in the rent vs. mortgage dilemma. If you’re renting and your belongings get stolen or damaged, buying new things can easily drain you of money. However, with homeowner’s insurance, you can rest assured that you’re protected and that you can stand on your own feet even in such unfortunate circumstances.

Always do the math.

Taxes

Another advantage of buying a home is that your taxes can actually be reduced! There are several ways to get tax benefits after buying, but I’ll explain a few of the most important ones. For starters, you can get huge deductions at any time your mortgage doesn’t exceed 750,000 dollars. These deductions go toward reducing the interest you’re paying back the lender, making the P.I.T.I. acronym seem even less scary.

Calculate some of the many tax deductions you’ll get if you’re buying a home. Alt text: Once you use a calculator and a tax form, like the ones on this picture, to calculate your tax deductions, you’ll see that rent vs. mortgage is in fact no dilemma at all.

You can also deduct as much as 10,000 dollars in property taxes. If you’re paying via escrow account, look at the IRS Form 1098 that the lender will sent to you to see how much can you deduce. If you’re not paying through an escrow account, you’ll need to have a record of the amount you’ve paid. There are also benefits if you make energy-efficient adjustments to your home, if you decide to age in that home, if you work at home, and so on.

Final thoughts

So, as you can see, there’s nothing pitiable about buying a home (on the contrary). The acronym is called P.I.T.I. simply because these are some key components to buying a home, and the acronym makes it easier for people to remember them, and it also speeds up the conversation. I didn’t want to go to much into detail on rent vs. mortgage in this post, just to demystify this scary-sounding acronym. If you’re seriously considering buying, call me today. My number is 347 457 63 64, and I’m looking forward to helping you find your way home! Also, check out my AskImma Youtube Channel, where I regularly post helpful, informative videos for some additional assistance.

Contributing writer: Betty White

Downsizing Can Mean Freedom, Flexibility for Newly Unburdened Seniors

People in retirement are embracing a new style of living, emphasizing freedom and mobility and jettisoning belongings accumulated over decades in order to enjoy a more flexible lifestyle. Downsizing is a marked trend in real estate these days, particularly among older Americans. A smaller, less maintenance-intensive home eases the burden on your body as well as your retirement fund and, with less upkeep, gives you the freedom to go where you want and do what you will.
Where will you move?
The first step is to identify where you want to move. Depending on your circumstances, this could be your chance to live where you’ve always wanted, perhaps near the water, in the country or closer to loved ones. Some older adults downsize to a house or apartment that’s near their healthcare provider for the sake of convenience. Wherever you choose to buy, be sure to research home prices/values.
An accessible home
Once you’ve decided where you want to live, you should look for an accessible home. Accessibility features, such as no-step entryways, grab bars, and ample lighting, can make it easier for you to move around and can help you avoid accidents. If the home you choose isn’t accessible, simple installations can be put in place, but you may also need to hire a remodeling company to get the home move-in ready. Find out which rooms need remodeling, then do a search online to compare prices.

Decluttering
As soon as you know you’re moving, begin the decluttering process and start unburdening your life. Go room by room and make separate piles of what you’re getting rid of and what you want to keep. Handle each item and consider whether it’s something you’ve used or displayed within the past year. If not, it’s probably time for it to go since you need to match belongings to the square footage and available storage space in your new home.

If you need time to decide about some of your belongings or require temporary storage while you make arrangements, look into renting a short-term storage unit. It can be an inexpensive solution to have more time to make decisions.
Focus on the big stuff
Take photos and measurements of rooms in your new place to determine how much furniture you can take along and what needs to be given away. Remember, you’re dealing with what may be considerably less space, so declutter with impunity. A grand piano and a massive sectional may have provided hours of pleasure over the years, but probably won’t fit into your downsizing plans. Consider giving them to friends or family members who can also enjoy them if you decide not to keep or store such items.
A new start
Saying goodbye to objects that elicit strong memories and emotions is always difficult. Instead of dwelling on what you’re saying goodbye to, try embracing downsizing as an opportunity to start over with a whole new decor, a kind of signal that you’re beginning an exciting new phase of life. This should be symbolic of a new start, so don’t turn it into a melancholy memorial of your past. If downsizing means you’re now free to travel, incorporate elements of places you’ve always wanted to visit by hanging artwork that puts you in that frame of mind.
Making your move
Turning the page on your life and saying goodbye to the past can be difficult, but the moving process shouldn’t be, so research the best, most affordable moving companies in your area (the average cost nationally of a local move is $1,250). Make sure they have experience working with seniors and that they’ll take special care to protect your fragile items. Some companies work with a senior move manager, who can help you decide what to take and what to get rid of, and they have experience making it all as pain-free as possible.
Downsizing should signal a positive change in your life. You’re exchanging the burden of excess belongings and the upkeep of a large home for the efficiency and convenience of a smaller living space. And it means you’ll have a degree of freedom you may never have known before. Enjoy it!
Call a reputable Real Estate Professional for guidance and assistance through the downsizing process, Immacolata “Imma” Giocoli specializes in Senior Living … Tyler Vincent Real Estate Inc. Located in Brooklyn and services all 5 boroughs and beyond.
“the advise is free, the information is priceless” …Imma Giocoli

Courtesy of Pixabay.com

10 simple steps to buying your first home

For many, buying their first home seems more than far-fetched. But, it should not be like that, especially today, when buying a home can be done easily. Nowadays, there are many lenders that offer different kinds of loans that you can pay off each month. And, more or less, it will be the same amount of money you would spend on your monthly rent. So, if you want to fulfill the American dream, and buy your own home, you are in the right place. Keep on reading to find out about the 10 simple steps to buying your first home.

1. Start Your Research Ahead of Time

As soon as you decide that the time for buying your own first home has come, you need to explore your options. You can do that by checking different real estate listings on different websites or in the newspaper. Check out different neighborhoods, the asking prices of the homes and how long they stay on the market. You can also discuss all of these housing trends with your real estate agent too.

2. Determine What You Can Afford

Well, yes, buying a home comes with a hefty price tag! This is why you need to think about your budget first. Most lenders claim that you should buy a home that is three to four times your annual income. Anything more than that can be a struggle. So, based on your and your family’s income and financial situation, decide on how much you can afford for buying a home.

3. Get Pre-Approved for the Mortgage

One of the best ways to actually know how much money you can work with is to consult your mortgage agent or a banker. You just need to provide certain information such as your income and your savings. Based on these, your mortgage agent will tell you how big of a loan you can get, and you will know the exact price range of the homes you should look at.

4. Find a Real Estate Agent

The best way to buy your new home is with the help of a real estate agent. In most cases, their help is crucial in both selling and buying a home. So, if you, for example, plan on moving out of Ohio for good, find a proper real estate agent first. Real estate agents will know how to work with your budget and get you the best possible home on the market that will suit your needs. They will show you the best houses in your preferred neighborhoods and negotiate the price once you pick your future home.

5. Go House Shopping

The next step is to go exploring different houses in your preferred neighborhood and in your price range. Bear in mind that you will probably see a lot of houses, so it would be a good idea to take pictures or videos of each house and take notes as well. Moreover, while viewing different houses, besides trying to imagine your life there, make sure to also check every little detail of the house. Buying a home is a big decision; do not hesitate to take all the time you need when evaluating the home and the neighborhood.

6. Make an Offer

Once you find your dream home that suits both your needs and your budget, you should make an offer. Do not wait long as houses tend to sell quickly. Just talk to the owner, the real estate agent and lender, and make an offer. Be sure that an offer does not only include the amount of money you are willing to pay for the house, but also terms. These terms can actually cost a lot. So, make sure to discuss them with your real estate agent and the owner as well.

7. Ask For a Home Inspection

After your offer is accepted, you will need to get your future home inspected. Ask your real estate agent to help you arrange this home inspection. Yes, this costs extra, but it is necessary if you want to make sure that the house does not have any damages or anything major that needs to be fixed. If by any chance there is something wrong, you can withdraw your offer without being affected by any penalty. Moreover, you can also renegotiate your offer with the seller by asking him or her to fix something before closing the sale.

8. Have the Home Appraised

Another thing that must be done before closing the sale is having your future home appraised by the experienced appraiser. An appraiser is actually a third party who works neither for you nor for the lender. He or she will give you an independent estimate, that is the proper price of the home you are planning to buy.

9. Prepare All the Paperwork

One thing is for sure, buying a home involves a lot of paperwork. And that is not something that you can prepare and acquire overnight. That is why you must deal with all the paperwork in time. Your real estate agent can help you with this step and tell you exactly what you need to prepare. Then, in the end, all you have to do is coordinate all the paperwork with the seller and hopefully, sign them.

10. Find a Moving Company and Move In

Congratulations! Now you are a homeowner. The only thing left to do is to hire movers and relocate. Make sure to prepare for this step ahead of time too. You can actually save money when hiring movers if you do it on time. And with all the costs of buying a house, you will want to save money somewhere. So, after you have had all your belongings relocated and finally settled in, we will help you throw a house warming party.

On pulling out of a real estate deal and working without professional guidance

Dealing with real estate can sometimes become hectic. People tend to change their minds, and worry whether or not they can pull out of a real estate deal. Or, they are not sure whether their agent is doing the right job and if they should get a new one. Some even consider dealing with real estate all by themselves. Now, obviously, there is a lot that people still don’t know about real estate. This is why experts like Imma, Broker Owner of Tyler Vincent Real Estate Inc, are not only helping people in Carroll Gardens but has also started her own video blog. So, to help explain these issues a little bit more, let us take a closer look. Youtube.com / Askimma

Pulling out of a real estate deal

So, first things first, it pulling out of a real estate deal possible? In short – yes. If you decide that you do not want to go with the current real estate deal, you can decide to pull out. But, as it is with most thing in real estate, it is not that simple. There are some limitations to when you can pull out of a real estate deal without any problems. So, when is pulling out of a real estate deal possible without any ramifications?

People are often unsure when it is ok to go back on a deal.

When can you pull out?

If, for instance, you are buying real estate in NYC and you want to pull out and you haven’t signed anything, go right ahead. By the NY law, there is nothing prohibiting you from doing so. But, if you have signed a contract, pulling out can be a problem. You may run into fines or even legal issues. Now, that doesn’t mean that you cannot pull out from a signed deal. But, it is much more difficult. My advice is that you carefully talk with your agent or your lawyer, if necessary, before doing something like this.

Before signing a contract

The one piece of advice that I would give to anyone is that you need to understand your contract completely before signing it. Even though this may seem redundant to some of you, I still feel that it is quite important. Too many people get into a lot of trouble simply because they sign something without understanding what they are singing. If you are not sure what is written, consult with someone. You can either contact an experienced NYC real estate agent like ImmaGiocoli or talk with a lawyer. Remember, as Imma says: “the consultation is free the information is priceless”.

Consult with a professional in order to know if pulling out of a real estate deal is possible.

Alt: A person consulting with a real estate agent weather pulling out of a real estate deal is possible.

Working without professional guidance

Now that we’ve covered the issue of pulling out of a real estate deal, let us loot into a more troublesome problem. And that is when people decide that they are going to deal with real estate on their own. Luckily, this is less common then people trying to pull out of a real estate deal, but it still happens. So, let us settle this once and for all. Should you work with a real estate agent? Or, a better question, is your real estate agent worth the money?

Is working without professional guidance possible?

In theory, yes. Same as you can move to a different country all by yourself. But, as you can read on sites like dorothyandmarthamoving.com, both of those are practically impossible. You need to have both the knowledge and the skills to even attempt such an endeavor. So, if you have experience with working in real estate and you have enough time to commit to finding or promoting what you need on the market, you can try to go at it on your own. In any other case, you are much better off working with a real estate agent.

Why do you need an experienced real estate agent at your side

A good real estate agent has their finger on the pulse of the real estate market. Therefore, they will be able to give you the information that you simply cannot find on your own. Remember, the real estate market is not a stable thing. It is constantly changing and altering. This is why you need someone who is keeping up with the current market trends to help you out.

When it comes to dealing with real estate, your agent will be your best friend.

Alt:A person shaking hands with a realtor.

Furthermore, a reliable real estate agent will find you buyers or sellers much quicker than you ever could. Over 80% do not even attempt at looking for real estate without hiring an agent first, which is why it is practically impossible for you to find someone to work with without one. So, when thinking about whether or not hiring a real estate agent is worth the money, don’t think much. Just come to terms with the fact that without one you have a very slim chance of finding a decent real estate deal.

When to switch agents

Now, this doesn’t mean that you should stick with your agent no matter what. As it is with anything else, there are good real estate agents and bad ones. Now, it can be hard to differentiate between the two at, especially if this is the first time that you are buying a house. But, you shouldn’t worry. Simply contact multiple agents and try working with the one that seems the most committed and trustworthy. After all, there is no better help than an agent who is dedicated and reliable.

Final tip

If there is one thing you will take from this is that you need to communicate with your agent. Questions like: “Is pulling out of a real estate deal possible?” are best answered by the agent who is helping you. Plus, by continually communicating with your agent, you will be able to see if they are worth their salt. Any agent can act as if they know what they are doing at the first meeting. But, by continually talking with your agent, you will truly see how committed and experienced they really are.