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William Onye's Blog

Home Buying, New Home Resource and Home Ownership

By William Onye | Agent in Missouri City, TX
  • HOME BUYING VS LEASING OR RENTING

    Posted Under: Home Buying in Richmond, Rent vs Buy in Richmond, Credit Score in Richmond  |  December 24, 2011 9:35 AM  |  1,229 views  |  1 comment


  • Always Use A Realtor When Buying or Selling

    Posted Under: Market Conditions in Rosenberg, Home Buying in Rosenberg, Home Selling in Rosenberg  |  December 24, 2011 9:24 AM  |  1,148 views  |  1 comment



  • FIRST TIME HOME BUYERS ASSISTANCE

    Posted Under: Home Buying in Richmond, Home Selling in Richmond, Financing in Richmond  |  November 18, 2011 5:20 AM  |  1,313 views  |  No comments






  • SELLERS DISCLOSURES

    Posted Under: General Area in Richmond, Home Buying in Richmond, Foreclosure in Richmond  |  November 18, 2011 5:08 AM  |  1,243 views  |  No comments



  • ADVICE TO HOME BUYERS

    Posted Under: Market Conditions in Missouri City, Home Buying in Missouri City, Rent vs Buy in Missouri City  |  October 13, 2011 7:18 AM  |  1,300 views  |  1 comment

    1. Arrange for your mortgage financing up front before you even start to look for a home. The lender will focus on your ideal price range, your maximum loan, and whether there are any credit issues you should correct before buying. The lender will also prepare a qualification letter, which you must provide the seller when you make an offer.

     

    2. Review a blank contract form before you write your contract offer. This will familiarize you with contract details and may prompt questions. Ask your agent to explain the process of negotiating and counteroffers.

     

    3. Use buyer representation. It is important to have an agent who owes his total loyalty to you. Discuss your representation options with your agent. If you are purchasing one of your agent’s company listings, make sure you understand what your agent can and cannot do for you.

     

    4. Review the seller’s disclosure before you make an offer. Your contract offer should reflect the condition of the property. The seller could disclose a repair or condition that would affect what you would be willing to pay. You should know this before you decide on an offering price.

     

    5. Ask for a residential service contract when you write the offer. This will cover you for some items that malfunction during the first year of ownership. Cash used for down payment, closing costs, and other home necessities can deplete your cash reserves. A residential service contract will reduce the risk of a future drain if a warranted item needs repair that first year.

     

    6. Get the property inspected by a licensed professional inspector. This will let you know the true condition of what you are buying. Follow the inspector’s advice if he recommends that you have another expert inspect a troublesome item. Ask your inspector to explain how to work or maintain appliances or systems in the home with which you are unfamiliar.

     

    7. Ask your agent to prepare a market analysis of the property before you make the offer. You should know what similar properties are selling for so that you don’t overbuy. Also, if the seller remains firm on his price, you will be able to tell if the value is really there.

  • QUESTIONS TO CONSIDER BEFORE SELLING IT BY YOURSELF

    Posted Under: General Area in Harris County, Home Selling in Harris County, Foreclosure in Harris County  |  September 4, 2011 7:30 AM  |  1,321 views  |  3 comments

    ·    Who will tend to the property and pay for routine maintenance?

    ·    Who pays for major repairs?

    ·    What are the costs of setting up and managing an escrow account for the portion of rent allotted to the down payment?

    ·    Will you manage the property yourself, or hire an agent?

    ·    What if the renters change their minds? Who keeps the money in the escrow account?

    ·    If the buyers change their minds, what will be required to put the property back on the market?

  • CAN'T MAKE MORTGAGE PAYMENT? WHAT TO DO

    Posted Under: Home Selling in Missouri City, Financing in Missouri City, Foreclosure in Missouri City  |  August 21, 2011 6:56 AM  |  1,314 views  |  No comments
    Many homeowners find alternatives to foreclosure by negotiating with lenders, often with the help of foreclosure counselors. If you’re facing foreclosure, call your lender right now to determine your options, which can include loan modification, forbearance, or a short sale.  The entire foreclosure process can take anywhere from two to 12 months, depending on how fast your lender acts and where you live. Some states allow a nonjudicial process that’s speedier, while others require time-consuming judicial proceedings.  Once you miss at least one mortgage payment, the steps leading up to an actual foreclosure sale can include demand letters, notices of default, a recorded notice of foreclosure, publication of the debt, and the scheduling of a foreclosure auction. Even when an auction is scheduled, however, it may never occur, or it may occur but a qualified buyer doesn’t materialize. Bottom line: Foreclosure can be a long slog, which gives you enough time to come up with an alternative. Meantime, if your goal is to salvage your home, think about keeping up with payments for homeowners insurance and property taxes. Otherwise, you could compound your problems by getting hit with an uncovered casualty loss or liability suit, or tax liens
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