With warmer temperatures and sunny weather, summer is the perfect time to get work on some outdoor projects. Summer might be well underway, but it’s not too late to knock some items off your summer maintenance home checklist. So whether you just bought a house in Chicago or a longtime homeowner in Denver, here are the top tasks to prioritize before the season ends. 1. Repair or replace damaged window...
Key takeaways: You have four main selling strategies when relocating for work. Each option has different timeline, financial, and risk considerations based on your specific situation and market conditions. Timeline and financial planning are critical factors. Traditional sales take 30-60 days, while cash sales can close in 1-2 weeks, but you need to consider carrying costs, temporary housing needs, and...
If you’re struggling to save enough for a downpayment, you may be wondering if tapping into your 401(k) is the right option. While it’s possible, doing so comes with significant risks, like early withdrawal penalties and lost investment growth. In this Redfin article, we’ll answer your questions about using your 401(k) to buy a home through loans or withdrawals and the drawbacks of the process....
If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear...
Key takeaways A mortgage note is your signed promise to repay your home loan. It outlines the loan amount, interest rate, repayment schedule, and default terms. It’s different from a mortgage or deed of trust, which secures the loan with your property. Lenders can sell your mortgage note, but your terms won’t change. When you buy a home and take out a mortgage, you sign a lot of paperwork. One of the...
When buying a home, lenders almost always check your credit history to assess how likely you are to repay the loan. But what if you don’t have a credit history at all? Maybe you’ve never used credit cards, taken out a loan, or your credit profile is too thin to generate a score. If you’re asking, “Can you get a mortgage with no credit history?” the answer is yes—though it’s more challenging,...
Key takeaways: A broker’s open is an exclusive event for real estate agents, not the general public. It helps agents evaluate a property’s marketability and provide feedback to the listing agent and seller. Understanding the difference between an open house and a broker’s open can give sellers a strategic edge in negotiations. What is a broker’s open? A broker’s open, or broker open house,...
Key Takeaways You can sell your house during forbearance. However, you are still responsible for repaying your home loan. If the value of your home is greater than the amount you owe on the loan, you can sell your home and use the profits to cover the payments you missed while in forbearance. Refinance your mortgage: You may be able to get a lower mortgage rate or lower monthly payment if you refinance...
Key takeaways: No primary residence exclusion available: When selling a second home, you can’t use the primary residence exclusion that allows $250,000/$500,000 in tax-free gains. Multiple tax reduction strategies exist: Various approaches can help reduce your capital gains tax burden on second home sales. Key strategies include: Increasing your cost basis with improvements, potentially using 1031...
Selling a home can feel overwhelming, but a closing checklist for sellers helps keep everything on track. From gathering documents to scheduling the final walk-through and coordinating with your agent, lender, and buyer, it ensures a smoother, less stressful process. Whether you’re selling a home in Cedar Falls, IA, Morgantown, WV, or Flagstaff, AZ, this Redfin guide will walk you through a...
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