Schedule a Showing/Request Info Pontiac Homes for Sale Oakland County Homes For Sale What Is Your Home Worth? RICK HENNING NATIONAL REALTY CENTERS BHAM 248-320-6469 rick@nationalrealtycenters.com MLS#: 212002021 Information valid for the date of this posting only. Please contact us for the most current information and status of this property.

762 W HURON ST PONTIAC, MI Scan with your smartphone & take me with you. Description Features Photos Maps & Local Schools Property Video For 24 Hour Information: 888-866-9430 x 762 $ Click for current price 2 BATHROOMS (2 full) 2624 Square Feet This is a side by side duplex that is registered with the city.  Each of the two units offers a living room, dining room, kitchen, bathroom, and three bedrooms.  Each unit also includes its own private basement. Buyer/buyers agent to verify all information. This is not a short sale or foreclosure. L2L Property Websites AR

For 24 Hour Information: 888-866-9430 x 762

Quick Links Pontiac Homes for Sale Oakland County Homes For Sale What Is Your Home Worth? See Property Details Call: 248-320-6469 for more information on this or any other property. Information valid for the date of this posting only. Please contact us for the most current information and status of this property. Visit Property Website Courtesy : RICK HENNING rick@nationalrealtycenters.com 248-320-6469 This is a side by side duplex that is registered with the city. Each of the two units offers a living room, dining room, kitchen, bathroom, and three bedrooms. Each unit also includes its own private basement.Buyer/buyers agent to verify all information. This is not a short sale or foreclosure. 762 W HURON ST, PONTIAC, MI 48341 Bathrooms: 2 full List Price : Get Current Price Living Area Approx : 2624 I want to see this property. Join Us On Facebook!

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Review the Disclosures

Before you write an offer on a house be sure to obtain, read and understand the disclosures related to the property. In Michigan there are two primary disclosures you should obtain:

• Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards.
• Seller's Disclosure Statement.

Both forms are useful in providing information on the condition of and the likelihood of hazards in the property as disclosed by the seller(s). The purpose of the disclosures are:

Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards. Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning.

Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women.

The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. (Source: US EPA)

In a nutshell the statement is saying, if the home you are thinking of buying was built before 1978 there might be lead paint in it. It discloses what exposure to the lead might do to you and yours. The seller(s) may or may not know if there is any lead present-- we'll tell you if we know. If you really want to know for sure; get it tested at your own expense. But, you can still buy the house if you want -- we just want you to know your options. The disclosure is not required for homes built after 1978.

Seller's Disclosure Statement. This statement is a disclosure of the condition of the property in compliance with the Seller Disclosure Act. This statement is a disclosure of the condition and information concerning the property, known by the Seller. Unless otherwise advised, the Seller does not possess any expertise in construction, architecture, engineering or any other specific area related to the construction or condition of the improvements on the property or the land.

Also,unless otherwise advised, the Seller has not conducted any inspection of generally inaccessible areas such as the foundation or roof. This statement is not a warranty of any kind by the Seller or by any Agent representing the Seller in this transaction, and is not a substitute for any inspections or warranties the Buyer may wish to obtain. (Source: Michigan Legislature)

In a nutshell the statement says here's all we know about the home you are buying. Remember now it is to the best of my recollection but I'm not a contractor either. I haven't lied about the condition of the house either physically or legally. This is a disclosure only and not a part of any contract. However, in Michigan if the buyer doesn't have the opportunity to review the disclosure the buyer can cancel the purchase contract.

Disclosures have a lot of information to help in your decision to buy a house. Get them, read them and understand what they mean.

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If you need help Selling your home or you are looking for a home to Buy, visit my website for information to assist you.

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Part Two - Creating Your Budget

If you followed the suggestion in Part One of this blog topic you have already tracked your spending habits, collected your income information and are now ready to create a budget that accurately reflects your life stage.

The budget schedule typically lists this information as annual income and expenses. After the schedule is complete, you must decide when you will check and update your budget. Generally, most people check their budget based on their pay periods. Whenever you decide to review your budget, make sure that it is comfortable for you. Remember, the budget is your guide ‑ not your task master.

Photo: DoughRoller

An annual budget schedule for a dual income no kids (DINK) household might look like this:

INCOME:

TAKE HOME PAY - JOB 1 $60,000

TAKE HOME PAY - JOB 2 24,000

TOTAL INCOME $84,000

FIXED EXPENSES:

MORTGAGE 25,000

AUTO LOAN 9,000

INSURANCE 3,000

TOTAL FIXED EXPENSES $37,000

FLEXIBLE EXPENSES:

CLOTHING 8,400

FOOD 12,000

UTILITIES 6,000

ENTERTAINMENT 3,600

TOTAL FLEXIBLE EXPENSES $30,000

SAVINGS & INVESTMENT:

SAVINGS 8,400

EMERGENCY FUND 3,800

VACATION 4,800

TOTAL SAVINGS & INVESTMENT $13,200

TOTAL EXPENSES, SAVINGS & INVESTMENT $84,000

NET INCOME & EXPENSE $0

After you have listed everything and broken it down into the periods that you will check regularly, list your real income and expense next to your anticipated figures. This will let you know first, how right your numbers were and second, where your budget may need changes.

Another useful function of a budget is that it will help you to provide for future spending needs. For example, you have had your television for about six years and it hasn't given you any problem. Just how long do you think it will last? The cost of a new television is about $800 and you guess that this one will last another three years.

To provide the cash to buy a new TV in three years you would divide $800 by 36 months (three years) to come up with how much you should save each month, about $22.

These are but two uses of your budget; monitoring and controlling spending and providing for replacement of goods. A budget will also help you set goals for the future beyond simply replacing your TV. A budget can help you plan for the vacation listed above, your children's education, investments, and just about anything that requires time and money to carry out.

Above all, a budget will give you piece of mind in knowing that you are spending well within your income and providing for a way to save some of your hard-earned cash.

So what are you waiting for, start your budget.

Get a Mortgage Pre-Approval Letter

Back in the wildcat mortgage days of the 1980's and 90's real estate deals could come together with a pre-qualifying letter. A pre-qualifying letter? Didn't I just say get pre-approved? What's the difference?

A pre-qualifying letter is informal. It can be gotten from a telephone interview with a lender. Basically you tell the lender how long you've worked, how much you make how much you earn and what are your monthly debts. Based on this information the lender will determine, with some qualifications, how much "you're good for". No information has been verified so there's no commitment from the lender. Seller's discount them too. So if your offer is side by side with another that has a pre-approval letter the seller may lean, all things being equal, towards the offer that has financing pre-approved.

A pre-approval letter is formal. There has been a mortgage application completed and a credit report pulled. The lender has taken all the steps to verify employment, prior rent/mortgage history, income and monthly debt load. You know, all the stuff you told the other lender over the phone. But because all your information has been verified, the lender will issue a letter saying they will lend what "you're good for" and you can purchase a home of X dollars.

So, if you are serious about buying a home and you'll need financing to do it; start by getting a mortgage pre-approval. You'll be glad you did.