To ensure that your Reno mortgage preapproval goes off without a hitch, follow these three simple rules: whip your credit into shape, gather all necessary paperwork and save as much as you can for your down payment.
Low inventory and high buyer demand have forced sale prices to their highest levels ever, according to the February 2018 Reno-Sparks Market Report. Pending sales are slightly outpacing new listings, depleting current available inventory. This could be the norm for the Reno-Sparks real estate market for several months to come.
With tax day approaching, a few of the tax deductions Reno home sellers might want to know about involve property taxes, mortgage interest, moving costs, expenses involved with selling their home, home improvement/repairs, and capital gains. Some of these will be going away for next year’s filing.
Saving up for your Reno down payment is easier than you think. Determine how much you need to save and when you want to buy a new Reno home. Track your expenses. Cut costs where possible. Then, create a budget and stick to it. You’ll be a new homeowner before you know it!
Once you find the perfect property, you’re going to want to create a Reno home offer. If you lowball the seller, they may turn on you and refuse to work with you at all. But you don’t want to overpay either. So, you’ll need to rely on the expertise of your REALTOR@ to help you decide on a fair price.