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Online Home Estimates -Are They Dependable? – DC Fawcett

Computers have made our lives wonderful; they have made our lives more simpler. But have you wondered whether the set of steps followed can be a substitute to the astute thinking of the human mind? Well, now the topic of discussion given by DC Fawcett VREIC is none other than real estate valuation.

You may be planning to sell off your home and would have certainly done some meticulous research. You may even used an online tool to give you the quick estimate. Well now the question of the day is whether these sites are really accurate in giving you the exact worth of your home? One of the drawbacks of using these sites is that they overprice the property. Or for that matter these sites will even undervalue the property.

Real estate valuation sites have some smart set of steps to estimate the worth of your property. But that doesn’t mean that it is always correct. In fact home values are impacted by several aspects and the things like public records can’t take note of everything. Can the latest home sales be the total determining factor for finding your home’s worth? Certain things like the home’s features, the likings of the potential buyers etc, can be taken into account only by a human brain. and also know about Deposit on Home Purchase.

Now let’s pose this question. Is there any latest sale of comparable homes in the vicinity? If not, the chance of online estimate accuracy is quite restricted. It may be the case that the home has a distinct facet that the other properties in the area don’t possess. Also, the local market may also have seen a drastic change. These are just some of the factors that imply that the online estimate need not be accurate.

A qualified appraiser can guide you in knowing the true worth of your home. Or for that matter even a licensed real estate agent will help you in this case.

The online algorithms have chances of showing errors on the properties that had seen a total rehab. So these online estimates can be just useful when you just want a fast detail about the home.
By now you would be wondering why should you overly depend on these online sites. These online sites may not take into account various aspects that will have a profound impact on the value of your property. Now let’s look at some of these aspects.
The condition of your property is one important aspect of your home. In fact the condition of your property also plays a major role in determining the value of it.
Generally, a real estate agent will allot enough time to compare your property with those of the similar size and also life in the vicinity. This he does say for the last few years.
There are certain aspects of your house that your realtor will consider which the online estimate will not. You may have upgraded your facilities and these will be regarded only by the realtor.
The ongoing developments in your area will be known essentially by your realtor and an online estimate will not know this.

CONCLUSION:

DC Fawcett is the creator of Virtual Real Estate Investing Club. Here you can explore what is viable in today’s real estate market. He is adept at wholesaling, cash flow investing and rehabbing in virtual markets where he does not reside.

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Dc Fawcett Real Estate – Deposit on home purchase – The ABC’s

Introduction

You may think that buying your dream property is as ideal as signing a contract along with the owner and eventually giving the down payment. But the actual scenario is that you have to prove that there is “earnestness” attached to the buying of the property. Well what is the earnest money deposit?

This deposit is a portion of the down payment. This shows the buyer’s interest to implement the agreements that is set forth in the contract. An escrow account will take care of the deposit. This escrow is a form of trust fund that is managed by both the parties and has effect till you close the transaction.

Now let’s see some of the important aspects of an earnest deposit:

As soon as the purchase agreement is signed the buyer and seller will make deposit payment. This check or money order is then kept aside in an escrow which is maintained by the specific real estate brokerage. There are strict laws from the state regarding the dealing of these monies. It should be made clear that this money should never go in the hands of a broker through his business bank account.
Just as you are careful in getting a receipt for any financial transaction it is essential to ask for a receipt, for the earnest deposit which would be provided to the real estate agent.
With regard to the question of how much earnest amount one should pay, it has lot of variations. Having said that, different states have their legal limits for the earnest money. In case of a purchaser who can pay only less down payment he has to spend lot of earnest deposit. This is as a surety that he or she will get through a mortgage.
Generally the experts feel that the earnest money can be somewhere between 2% to 5%. This percentage is calculated from the purchase price. But again the actual money depends on the thriving of the market.
In case the purchasers decide on paying a large chunk as earnest deposit the lender will be interested to confirm the source of these monies.
One important thing to be kept in mind is that the earnest deposit is not in any way an additional expenditure of purchasing a property. At the time of closing the deal it will be added with the down payment.
Earnest deposits aren’t simply some random money paid. These sums enunciate the earnestness of the buyer and show that they are capable of carrying out their promises as per the purchase agreement. The real estate transaction conveniently commences with the earnest deposits that safeguards the seller in case the purchaser gives problems in the specific deal.
You would be investing some money in your bank account. Similarly an earnest deposit will provide you with interest through its escrow.

Conclusion

Dc Fawcett, the real estate expert, and also the founder of the Virtual Real Estate Investing Club, is well-equipped in the real estate scenario and assists people develop their real estate investing business.