Michael Petruccelli asks; What is credit history?

Michael Petruccelli says;  A record of an individual's repayment of debt. Credit histories are reviewed by mortgage lenders as one of the underwriting criteria in determining credit risk.

Michael Petruccelli asks; What are some tips for first time home buyers?(6)

Michael Petruccelli says; Get a Loan - It's not always necessary to have a mortgage broker or bank in your back pocket before buying a home, but it's smarter to get loan preapproval in advance. This way you know for certain how much home to buy.

Michael Petruccelli asks; What are some tips for first time home buyers?(5)

Michael Petruccelli says;  Most buyers conduct a lot of research online before ever stepping foot in a home. Buyers spend an average of 6 to 8 weeks, according to the National Association of REALTORS, trying to figure out where they want to live. But once the neighborhood is selected, most buyers end up buying a home after 2 or 3 home tours.

Michael Petruccelli asks; What are some tips for first time home buyers?(4)

Michael Petruccelli says; Find a Home to Buy - Buying a home can be an overwhelming process and emotionally draining. Finding the right home is not always an easy task. I advise buyers to look at a maximum of 7 homes at a time because any more than that will make a buyer's head spin.

Michael Petruccelli asks; What are some tips for first time home buyers?(2)

Michael Petruccelli says; An agent can send you listings directly from MLS that fit your parameters, and you won't waste time looking at active short contingent listings that are under contract. Agents often know of new listings coming up that are not yet on the market.

Michael Petruccelli asks; What are some tips for first time home buyers?(1)

Michael Petruccelli says; Hire an Agent - Because I am an agent, I believe in hiring a buyers agent first. But you don't have to if you prefer to go to open houses and look through a mumbo jumbo of homes online. Mostly, an agent will save you time.

Michael Petruccelli asks; Roofs are always a big question mark, what are some of the roof basics?(1)

Michael Petruccelli asks;  Roof Safety Precautions- An all too common 

injury for men over the age of 45 is falling off a ladder. Thus, it is very 

important to be cautious and know your ladder when ascending or 

descending from roof surfaces. If you are not comfortable on a roof, 

you can use binoculars. With that said, no matter how comfortable 

you are, it is never recommendedto walk on a roof greater than 

6/12 (6 feet rise for each 12 feet of lateral travel; that's 45 degrees).  

Michael Petruccelli asks; How do you prevent your pets from taking a bite out of your sale? (12)

Michael Petruccelli says; Ocean views. Check your fish tanks 

frequently for leaking. It doesn't take much to ruin a wood 

floor, or sub flooring under a carpet. Inspections will look 

for water damage under the tank area and again at the next 

level below.

Michael Petruccelli asks; How do you prevent your pets from taking a bite out of your sale? (5)

Michael Petruccelli says;  Another common condition is scratched window screens. They can be repaired as well, but replacement is probably the best way to go if you’re looking to impress buyers with your home. 

Michael Petruccelli asks; How do you prevent your pets from taking a bite out of your sale? (4)

Michael Petruccelli says;  A home inspector will note any damage 

to components (doors, floors, weather stripping, screens) if it 

affects the overall function of any system within the home.  

Luckily, scratches on hardwood floors (or the cabinet 

door where you keep Fido’s treats) can easily be fixed with 
a good sanding and finish, but the damage, if left 

untreated, can completely draw attention away from the 

beautiful wood features in your home.

Michael Petruccelli asks; How do you prevent your pets from taking a bite out of your sale? (2)

Michael Petruccelli says;  Keep cat boxes, bird and rodent cages, and the surrounding areas clean. Keep a towel or blanket under cages. Excess cat litter, bird seed and wood shavings should be vacuumed frequently. Keeping a clean pet living area shows that you care about maintaining your home.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 12)

Michael Petruccelli says; Have Practice Drills. Schedule a daylight drill, then a nighttime drill. Then do a drill with your eyes closed. Designate in advance a chain of command of household members.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 7)

Michael Petruccelli says;  Keep Flashlights on Hand. A working flashlight or method for signaling out the window of each second floor bedroom should be available and quickly retrievable.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 3)

Michael Petruccelli says;  Conduct a family meeting. Clearly communicate, verbally and with the use of drawings, the importance of knowing and understanding the procedures to be followed in the event of a fire. Plan a visit to a fire station and let younger members of the household view a firefighter in all his/her gear. Young children are often frightened when encountering a firefighter for the first time.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 4)

Michael Petruccelli says;  Install and test smoke (fire) alarms. Demonstrate the sound of the smoke (fire) alarm in your house by pressing the test button, so that everyone has heard it ahead of time, especially small children. At a minimum, alarms should be installed on each level of the home and in each bedroom. Alarms should be tested monthly, replacing batteries semi-annually.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 5)

Michael Petruccelli says;  Establish Alternate Routes. Ensure two possible exits in each sleeping room with windows and doors that can always be unlocked and opened quickly.

Michael Petruccelli asks; What is a foreclosure?

Michael Petruccelli says;  The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.

Michael Petruccelli asks; What is hazard insurance?

Michael Petruccelli says;  Insurance coverage that in the event of physical damage to a property from fire, wind, vandalism, or other hazards.

Michael Petruccelli asks; What is a 401(k)/403(b)?

Michael Petruccelli says;  An employer-sponsored investment plan that allows individuals to set aside tax-deferred income for retirement or emergency purposes. 401(k) plans are provided by employers that are private corporations. 403(b) plans are provided by employers that are not for profit organizations.

Michael Petruccelli asks; What is a 401(k)/403(b) loan?

Michael Petruccelli says;  Some administrators of 401(k)/403(b) plans allow for loans against the monies you have accumulated in these plans. Loans against 401K plans are an acceptable source of down payment for most types of loans.