Bill Bein's (wbein) Blog

"Arm-Chair" Investors are those who do NOT want to live in the property they buy (a more precise term for this would be "NON-owner occupied"). The question we ask here is: Where have ‘arm-chair' investors like that been concentrating their investments? Our work with arm-chair investors has led us...

An escrow account is a neutral depository held by your lender for funds that will be used to pay expenses incurred by the property, such as taxes, assessments, property insurance, or mortgage insurance premiums which fall due in the future.  You will pay one-twelfth of the annual amount of these ...

A "closing" is where you and I meet with some or all of the following individuals: the Seller, the Seller's agent, a representative from the lending institution and a representative from the title company, in order to transfer the property title to you.  The purchase agreement or contract you sig...

NEW HOME WARRANTIES When you purchase a newly built home, the builder usually offers some sort of full or limited warranty on things such as the quality of design, materials, and workmanship.  These warranties are usually for a period of one-year from the purchase of the home. At closing, the bui...

If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection.  The inspection will include the following: AppliancesPlumbingElectricalAir conditioning and heatingVentilationRoof and AtticFoundationGeneral Structure The insp...

Once you have found the home you wish to purchase, you will need to determine what offer you are willing to make for the home.  It is important to remember that the more competition there is for the home, the higher the offer should be - sometimes even exceeding the asking price.  Remember, be re...

Myth #7:  When you receive an offer, you should make the buyer wait.          This gives you a better negotiating position. Truth:  You should reply immediately to an offer!  When a buyer makes an offer, that buyer is, at that moment in time, ready to buy your home.  Moods can change, and you don...

Myth #6:  Quick offers can be turned down-they're a sign a better offer is coming. Truth: The first buyer in could be your best buyer.  If the first week of a listing produced lots of showing requests and multiple offers, of course there's a reason to hold firm on price-but, unless a market is re...

Myth #5:  Minor repairs can wait until later. There are more important things to be done. Truth:  If your property needs repair, it WILL affect its value.  Most buyers are looking for homes that are ready for them to move into.  If your home happens to attract a buyer who is willing to make repai...

Myth #4:  Buyers will be able to see past a ‘lived-in' look. Truth:  You have only one chance to make a 1st impression-         and 1st impressions, in any market, matter heavily.  If it's a home or town home, the exterior should make a good buyers feel compelled to stop and come inside.  And, fo...