Real Estate News
What are some examples of home projects that will increase the value of my home in Greece ?
Making home improvements that add value to your home are a smart investment. But over improving real estate can be like pouring money down the drain. Too often homeowners make improvements that fit them specifically, which narrows down the market for resale. While it’s important to enjoy the amenities of the home in which you live, it’s still essential to think about potential resale of the property. When you improve your home, you ge..Read More
How is a Realtor different from a real estate agent in Greek Real Estate Market ?
“Realtor” is the symbol of a professional in the real estate business. Many people use the term Realtor synonymously with ‘real estate agent’ or ‘salesperson’. This assumption is incorrect. Not every real estate agent is a Realtor. Realtor is a designation that applies to one who pursues continuing education, abides by a strict Code of Ethics, stands for private property rights, and opposes discrimina..Read More
What is a real estate closing for buying real estate in Greece ?
An appraisal is an estimate of the value of a piece of property by a licensed, trained, and experienced individual called an appraiser. They are usually required by a lender to determine how much the property is worth in ascertaining how much they will loan on the property. The closing is the culmination of everything in a real estate transaction. It’s where the title, known as the deed, transfers from seller to purchaser. Closings may b..Read More
What is a real estate broker, and how does this differ from a real estate agent in Greek Real Estate Market ?
A real estate broker is an agent who is authorized to open and run his/her own agency. All real estate offices must, by law, have one principal broker. A seller’s agent is a real estate agent that works solely on behalf of the seller and owes duties to the seller, which include utmost good faith, loyalty, and fidelity. However, the agent must disclose to potential buyers all adverse material facts about the property, which are actually know..Read More
How can I build equity into my house in Greece ?
You can build equity in three ways. First (and easiest) is from market appreciation. Second, when making your monthly mortgage payment, try to send a little bit more. This will go directly to the principal of the loan, rather than the interest. Be sure your lender knows to put the extra toward principal, and not the next month’s payment. Even an extra $50 per month can quickly build equity, as well as knock years off of your loan. The third..Read More
Do I need to do a final walk-through for buying property in Greece ?
It’s not required, but it’s a darn good idea! Final walk-throughs give buyers a chance to make sure nothing had changed since their first visit. If repairs were requested, as part of the offer, a follow-up visit ensures that everything is squared-away, as expected, per the terms of the contract.Read More
Should I order a home inspection when buying apartment in Greece ?
Yes! Home inspections are required if you plan on financing your home with an FHA or VA loan. For other mortgage programs, inspections are not required. However, home inspections are highly recommended because they can reveal defects in the home that are not easily detected. Home inspections bring peace of mind to one of the biggest investments of a lifetime.Read More
What is earnest money in Greek Real Estate Market ?
When you make an offer on a home, your agent will ask for a check to accompany it (checks are the same as cash, and the deposit is typically 1% to 2% of the purchase price). Earnest money is made in good faith to demonstrate - to the seller - that the buyer’s offer is genuine. Earnest money essentially takes the home off the market to anyone else and reserves it for you. The check (or sometimes cash) is deposited in a trust or ..Read More
How many homes should I view before buying one in Greece ?
That’s up to you! For sure, home shopping today is easier today than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.Read More
Should I sell my current home before buying a new one in Greece ?
If the built-up equity in your current home will be applied to the down payment on the new home, naturally the former will need to be sold first. Some home buyers decide to turn their current home into an investment property, renting it out. In that case, the current home will not need to be sold. However, your loan advisor will still need to evaluate your risk profile and credit history to determine whether making a loan on a new home is..Read More