Buying a home is a big deal, and is typically an involved process, especially during the time between offer acceptance and the actual closing. “Escrow” is basically when a neutral third party holds on your earnest deposit until all contingencies are met in a real estate transaction.
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Finding the right house and negotiating an offer can be pretty labor-intensive and even stressful. Throw in problems with closing into the mix, and you’ve got yourself a bonafide headache. In a perfect world, a deal would close without a hitch.
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In comparison to other types of investments, real estate income properties come with a reasonably safe reward profile compared to the level of risk they come with. If you’ve got a real estate investment profile in the works, there may be a property or two that you’re considering letting go of.
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Coming up with enough cash to make a home purchase isn’t exactly easy to do, and not too many people can scrounge up that kind of money. Yet in a competitive market where homes are being snatched up just as fast as they are listed for sale, all-cash is king.
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Condominium buildings and planned unit developments are typically run by a homeowners’ association (HOA), which in turn is run by an owner-elected Board of Directors. The members who serve on the board are responsible for making a lot of critical decisions about the association’s finances, a well as the overall state of the building.
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