What to do if your home insurance purchase falls through

December 15, 2011 · Filed Under Home Insurance, Insurance · Comment 

When you enter into an agreement to purchase a home it can be devastating to realize that things aren’t going to work out. You may have looked to a mortgage calculator at moneysupermarket.com or some other comparison website to prepare for your monthly payments. You’ve probably even imagined what the place would look like with a fresh coat of paint.

As you begin to deal with the disappointment that you feel, there are some tasks that need to be dealt with. Don’t lose time wallowing in sorrow.

It is important to get the answers that you need, as there could be some money on the line. After the necessities are taken care of you can move on to dealing with the emotions and concerns created by the loss.

Necessities

Before you take another step it is important that you understand what happened and why your home purchase has fallen through. If your loan application was not approved you need to know why.

This can help you plan for the next home buying experience. While you wait for the next home you can begin working to correct the issue.

Problems can also arise with the property itself. Sometimes a home won’t pass an inspection or doesn’t live up to the buyer’s expectation.

In this case you, as the buyer, are choosing the leave the agreement. In either situation your real estate is responsible for relaying information back and forth between the two parties.

Once you know what happened the next step is arranging to retrieve your earnest money. This isn’t always as cut and dried as you might think.

If you back out because of an issue with the house or the agreement you can usually get your earnest money back. If, on the other hand, the contract falls through because of your lack of funding, you may be out of pocket for the money you put down.

Dealing with the Loss and Planning for the Future

After figuring out what happened and attempting to get your earnest money back, it is time to deal with the emotions that you may be feeling. If it was a problem with the house you may be frustrated with the seller and more cautious about the next offer that you make.

If the purchase fell through because of financing or a problem with your application you might be frustrated with yourself or your financial situation. If you really loved the house, it can make all of the emotions worse.

But you have to move on. Take some time to regroup. If a financial issue was the problem, work on getting it handled. You may not feel like looking at homes or diving back into the real estate market. Don’t feel bad. This is completely normal.

Give yourself some time. When you are ready, you will be eager to get back out there and start looking for another home. You will go into this next agreement a more seasoned buyer with knowledge and experience that will benefit you in the long run.

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6 Ways to Save Money over Christmas and New Year

December 13, 2011 · Filed Under Budget, Money · Comment 

With Christmas and New Year breathing down our necks, now is a good time to start thinking about money saving tactics and things you could do to make sure you don’t break the bank this holiday period. From shopping around for credit cards to being savvy when it comes to the Christmas turkey, read on for 6 ways you could save money.

1 – presents

Setting yourself a budget for Christmas presents is one money-saving option that you could consider. You could also review who you actually buy presents for and make some hard decisions to cut down your list. Setting up a Secret Santa is another way to make sure everyone gets included without needing to buy absolutely everyone a gift.

2 – the bird

The turkey is often the star of Christmas, but buying a smaller-than-normal bird could save you cash (and oven space). You could also look for a large chicken or other meat as a tasty alternative.

3 – the booze

Alcohol is something that can easily push up the cost of Christmas, so look around for good deals and, instead of going out to drink, consider a bottle of wine shared with friends at home to save money

4 – payments

It’s important to know how you’re going to pay for Christmas and New Year before it actually gets here, so start thinking now if you haven’t already. For instance, if you are considering making a credit card application, look for the best deals – and make sure you meet your repayment commitments to avoid charges and keep your payments on track.

5 – New Year deals

The New Year is a good time to look around for deals on all sorts of things, so why not get into the spirit of renewal and take a look at your expenditure to see where you could benefit from a change?

6 – new good habits

Sticking with the above point, New Year is a good time to make a different in your life, so one option is to make a list of all the money-saving habits you can think of – and stick to them. Your wallet is sure to thank you come next Christmas.

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