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Property Taxes | Frequently Asked Questions
Are taxes on second homes deductible? Mortgage interest and property taxes are deductible on a second home if you itemize. Check with your accountant or tax adviser for specifics. Do all loans require impound accounts? If you are taking out an FHA or VA loan, the...
Making an Offer on a home
Can you buy homes below market? While a typical buyer may look at five to 10 homes before making an offer, an investor who makes bargain buys usually goes through many more. Most experts agree it takes a lot of determination to find a real "bargain." There are a...
Home Inspections & Warranties
Do I need a home inspection? Yes. Buying a home "as is" is a risky proposition. Major repairs on homes can amount to thousands of dollars. Plumbing, electrical and roof problems represent significant and complex systems that are expensive to fix. How do I find a home...
Buying Foreclosures
Do you have to buy HUD homes through a realty agent? You can only purchase a U.S. Department of Housing and Urban Development property through a licensed real estate broker. HUD will pay the broker's commission up to 6 percent of the sales price. Are foreclosures an...
Buying Your Home – Finding the Right Home
What are the pros and cons of adding on or buying new? Before making a choice between adding on to an existing home or buying a larger one, consider these questions: How much money is available, either from cash reserves or through a home improvement loan, to remodel...
Buying Your Home – Escrow & Closing Costs
How can I save on closing costs? Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. But there are some ways to save: Negotiate with the seller to pay all or part of the...