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Once your home is listed in the Multiple Listing Service (MLS), the listing broker discloses the terms of the commissions to other competing brokers so they will bring their buyers to the listing. When the buyer’s broker presents a contract to the seller, it will include a provision to collect their share of the sales commission, as offered by the listing agent in the MLS.

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Shopping for a mortgage can be overwhelming. Even if youve owned a few homes and have had a few home loans, chances are there are some mortgage options you dont know about.

Here are four to ask a mortgage expert about:

A 20 percent down payment isnt a must. The long-held view that at least a 20 percent down payment is needed to buy a home is outdated.

A loan approved by the Federal Housing Administration, or FHA, can have a minimum down payment of 3.5 percent. For a $300,000 home, instead of having to come up with $60,000 (20 percent) down, a 3.5 percent down payment requires $10,500 down.

Banks arent the only home lenders. Traditional lenders like banks and credit unions are just some of the places to get a home loan.

Savings and loan associations are one option, using the savings deposits of private investors to make mortgage loans. Theyre usually locally-owned and managed, and are chartered by the federal or state government.

Mutual savings banks are another option. Theyre like savings and loans and were created to help low-income consumers. Unlike commercial banks, they can borrow from the Federal Home Loan Bank System to make investments such as mortgages.

Youll likely get more money than you need. After determining your ability to repay a home loan and the cost of the home, the lender will tell you how much of a loan you qualify for. Chances are it will be a larger loan than you can afford.

New federal laws in 2014 are meant to hold lenders more responsible for the loans they underwrite, but the guidelines still allow larger loans for most people.

That doesnt mean you have to necessarily borrow that much money. But it could help pay your closing costs, or be used to buy a bigger home. But if youre getting a bigger loan only because you qualify for it and can buy a better or bigger home, you could be in trouble soon if you cant afford the payments. Only you know your day-to-day finances”not your lender”so sticking to a loan you can afford is wise.

A home loan can help cover repairs. If youre getting an FHA loan, its 203(k) program allows up to $35,000 from the loan to be used for home repairs and improvements.

Chances are the home youre buying will need (or youll just want to change) new carpet or paint, and this add-on loan product can pay for the improvements. The total loan amount is based on the projected home value after the fixes are made.

Interested in more real estate tips? Contact me today!

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Take these factors into consideration when it’s time to decorate your living space!

Proportion & Scale

Before buying furniture, always take measurements and try to visualize how it will fill the space its intended for.

Color Scheme

Take the time to look for inspiration and choose colors that match the mood youre looking to create.

Traffic & Flow

When arranging furniture and decor, consider how youll move about each room and the way in which these items direct traffic.

Balance

The goal is for a room to have a consistent impact or weight, rather than having lots of decor on one side and wide open space on the other.

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Many people enjoy the convenience of living in a city or in the suburbs, with easy access to stores and entertainment and with neighbors nearby. For others, the idea of being surrounded by nature and away from all the hustle and bustle is appealing. If you are thinking about buying a house in a rural area, carefully consider the advantages and downsides.

Amenities and Resources
Homes in rural areas are often much less expensive than those in cities and suburbs, but lower prices often mean fewer amenities and less convenience. A rural house may not have what would be considered standard features in an urban area, such as running water, electricity, central heat and internet access. Police, fire and medical help could be miles away, and first responders could take a relatively long time to reach the house in an emergency. You might also need to drive far to reach stores, restaurants, entertainment and medical providers, but you would encounter less traffic than you would in a city.

Nature
If you love the outdoors, you may be intrigued by the idea of living in a wooded area where you could see birds, deer and even larger animals, such as bears, on a regular basis. That said, some animals have the potential to cause damage to your home or harm your family or pets. Large wildlife could also draw hunters to your property, which could be both a nuisance and a safety hazard.

Rural areas often feel the effects of severe weather more than urban and suburban locations. Heavy snow, rain and wind can be more problematic in rural areas where roads may not be paved, infrastructure may be less sophisticated or not as well maintained, and workers may need to cover much larger geographic areas since homes are more spread out. A snowstorm that would be an inconvenience in an urban area could leave you stranded in a rural home without electricity and heat for days or weeks.

Work Options
Employment opportunities are much more limited in rural areas than in more populated locations. If you have a job that allows you to work from home, that may not be a problem. If you would need to drive a long way to and from work, that could cost a lot in terms of gas, wear and tear on your vehicle, and time spent commuting instead of relaxing with your family.

Community Support
Rural areas are often more close-knit than urban and suburban neighborhoods. Residents look out for each other, and crime tends to be relatively low. On the other hand, it may take time for new homeowners to feel like they fit in, and some people dislike the relative lack of privacy.

Is Country Living Right for You?
A rural home offers several advantages, such as proximity to nature and a close-knit community, but it has downsides, including fewer employment options and less convenience. Weigh all these factors carefully when deciding whether to purchase a house in a rural area.

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Flooding can happen anytime, anywhere. And damages are generally not included in your homeowners policy. But two devices can flood-proof your home: a backflow valve, and a sump pump.

Both control floodwaters by redirecting them.

A backflow valve directs overflow to an outside receptable – a sump pump directs overflow to a storm drain or well.

Both of these should be installed by a professional, and inspected by a service technician.
If you do it yourself, you could cause more damage, or void your warranty.

If flooding occurs, contact a professional as soon as possible, and only when safe to do so.
If left unattended, floodwaters can be harmful to your home.

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