DJ Peterson

Comparables, often referred to as “comps,” are crucial tools in the real estate industry used by buyers, sellers, and real estate professionals to determine a property’s value. But what exactly are comparables, and how are they used in real estate transactions? Let’s delve into the world of comparables and uncover their significance. In real estate, […]

Understanding contingencies is crucial in real estate contracts as they act as a safety net for both buyers and sellers. But what exactly are contingencies, and how do they influence realty transactions? Let’s delve into the importance of contingencies in the realm of real estate. In real estate, a contingency is a condition or clause included

In real estate, collateral refers to the property or assets that a borrower pledges to a lender to secure a loan. It serves as a form of security for the lender, assuring that the loan will be repaid if the borrower defaults. Collateral plays a crucial role in real estate transactions, providing protection for both lenders and

Closing a mortgage is not just a step but a significant milestone in the home-buying process. It’s the moment when property ownership is officially transferred from the seller to the buyer. This crucial stage is a collaborative effort, with multiple key steps and parties working together to ensure that all necessary paperwork is completed, funds are disbursed,

A balloon mortgage, a type of home loan that offers lower monthly payments for a fixed period, can be an attractive option for borrowers. It provides the benefit of lower initial payments, making homeownership more affordable in the short term. However, it’s important to note that this type of mortgage also carries certain risks that borrowers should

Homeowners’ Association (HOA) fees, also known as association fees, play a significant role in many residential communities, particularly in condominiums, townhouses, and planned developments. Understanding the purpose and implications of HOA fees is essential for prospective buyers and current homeowners alike. HOA fees are regular payments homeowners make to the HOA governing their community. These

Realty appraisals play a crucial role in the real estate industry. They objectively assess a property’s value. Understanding the appraisal process is essential for making informed decisions about buying, selling, refinancing, or investing in real estate. At the heart of a realty appraisal is a licensed appraiser, whose role is to provide an unbiased estimate

Probate sales, or estate sales, occur when a property is sold after the owner has passed away during the probate process. Navigating probate sales can be complex, but understanding the process and potential challenges can help streamline the transaction for all parties involved.The probate process begins when a person dies, and their estate enters probate

Engaging the services of a REALTOR® is a crucial step in the process of buying or selling a house. To ensure a smooth and successful transaction, asking the right questions and gathering relevant information from your real estate agent is essential. Here are the top 20 questions to consider: Asking these questions will help you