Scott Bergmann Realtor with Realty ONE Group Sterling

This term has multiple meanings; earnest money is typical held by a third party until closing in "escrow." It can also be referred to as the time period from when the contract is written and accepted by the seller to when the home sale actually closes.

Get pre-approved (not just pre-qualified) for a mortgage. • Keep contingencies to a minimum. • Submit your offer quickly. • Put more money down on the home. • Make your offer more personal by writing a letter to the seller.

In addition to a mortagage, certain housing communities such as townhomes have a monthly fee associated with maintaining the common areas and amenities.

"Insurance written in connection with a mortgage loan that protects the lender in the event the borrower cannot repay their loan. This is usually not required if the borrower has 20% or more for the down payment."

A mortgage note is the document that you sign at the end of your home closing. It contains all the terms of the agreement between the borrower and the lender and accurately reflects all the terms of the loan.

"These are the taxes that are enforced by the city, town, county, and state government entities. Sometimes they are included in the total monthly mortgage payment paid to the lender and sometimes they are paid directly by the home owner."

The underlying amount of the loan which is actually borrowed

"A form that provides that final details about the mortgage loan. It Includes loan terms, projected monthly payments, and how much the extra will be."

"This is specifically for seniors and it allowed them to convert the equity in their home to cash."

A one-year service that covers that cost of repairs or replacements to items covered in the plan (such as stoves, dishwashers, A/C, heaters, etc.).

A lender will evaluate whether a borrower's income is large enough to handle their payments on existing debts plus their new mortgage payments.

"The process in which a lender makes an initial evaluation of how much money a buyer might be qualified to borrow based on the preliminary financial information provided. This gives the seller more confidence in the buyer's ability to close escrow, but is not a guarantee that the loan will be approved."

The percent of interest that will be charged on a home loan.

The percent of interest that will be charged on a home loan.

The difference in the market value of a home versus what is owed on the home

A long-term mortgage loan that starts small but has a large payment due at maturity

With an adjustable rate mortgage (ARM), your interest rate may go up and down over the course of your loan.

Make sure you're ready by making a list of your top reasons to sell. Remember this is a business transaction - do not take feedback from buyers or agents personally. Be open to negotiation. Be realistic about your selling timeframe based on the local housing market.

Find out your credit score at least 6 months in advance, preferably 12 months in advance. If it isn't quite what you will need to finance a home purchase, start making adjustments now to boost your score.

Get pre-approved before you start looking at homes. You don't want to find the perfect place and lose out because you aren't prepared with financing.

A report highlighting the estimated value of the property completed by a qualified 3rd party. This is typically done for the benefit of the buyer's lender to ensure the property is worth the purchase price.

For showings, open up the curtains and shades to let as much natural light in as possible.

Work on adding curb appeal by keeping the lawn manicured, repainting and trimming all bushes and shrubs.

The response from the seller in regards to an offer

The associated expenses that the seller and buyer have that are associated with the transaction other than that of the actual cost of the home. Examples: Buyers having lender fees Sellers paying listing commission

Get pre-approved before you start looking at homes. You don't want to find the perfect place and lose out because you aren't prepared with financing.

Yes, Staged homes sell 25% quicker than non-staged ones.

A secondary contract in place that becomes active if the primary offer were to fall through before closing.

The appraisal is the value given to a property based on comparable properties that have recently sold. This is typically required by the lender in order to decide if the requested loan amount is in alignment with the value of the property.

When an offer is accepted by a seller, but it has certain conditions that must be met before the sale is final.

I get this question alot when pricing a offer to sell or for an offer. Here is a link to an a great way to summarize the term "comparables" https://posts.gle/zaqPKC

How to sell your house for the most money in Omaha: Understand your local market. Choose the right time to sell. Set the right price. Understand how much it really costs to sell a home. Determine how you're going to sell. Consider minor renovations that add value at minimal cost. Negotiate the best offer – not just the highest offer.

I get this question super often! How to sell your house for the most money Understand your local market. Choose the right time to sell. Hire a real estate agent. Understand how much it really costs to sell a home. Determine how you're going to sell. Consider minor renovations that add value at minimal cost. Negotiate the best offer – not just the highest offer.

Great question, and one I get all the time. Here are my top areas to focus on: Fresh Coat Of Paint- Light colors are IN light gray and blues/greens give a brighter feel Flooring- LVP is a cheap and easy flooring product great for any room Kitchen Improvement- New countertops and a backsplash to match go a long way! Bathroom Improvement- Paint and flooring Exterior- A new garage door is a cost effective and high curb appeal change you can make fast!