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Making Sure My Real Estate Transaction Is Correct


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Making Sure My Real Estate Transaction Is Correct

When I purchased my first home, I wasn't sure what to look for when it was time to fill out the contracts. Instead of focusing on the dates and policies, I worried more about when I would be getting the keys and things like that. Unfortunately, the deal that I made didn't work out for me long-term, and it was largely because I didn't understand the policies. After that experience, I read a lot about real estate and decided to create this website about the importance of working with real estate attorneys. Learn how the right attorney can improve your next home purchase by reading these articles.

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Strategies For Renting An Apartment Post-Bankruptcy

If your employer has asked you to relocated to a new city, then you may be concerned about your ability to rent an apartment in your new community since you recently had your debts discharged in bankruptcy. While renting an apartment post-bankruptcy can be challenging, you can use these strategies to locate a suitable apartment to rent near your new job:

Search in High Vacancy Areas

It is always better to search for an apartment in a neighborhood that has a high rate of vacant properties. When there are more properties available than there are renters wanting to rent them, then it is easier to rent one with a lower credit score. Empty apartments are not making their owners any income, so landlords will be more eager to get their property rented and will be more willing to work with you and consider your unique circumstances when they are competing for tenants.

Target Properties that are Landlord Managed

Trying to rent an apartment in a large complex is futile if you have previously filed for bankruptcy. However, renting from a small independently owned and managed complex is easier because you can speak directly with the owner about the cause of your previous financial problems and let them know what you have done to resolve them for the future.

Offer a Large Security Deposit or to Pre-Pay Rent

Since potential landlords will be concerned with your ability to pay your rent, offering a large security deposit or pre-paying a few months worth of rent will help to show that you have the cash flow available now to meet your monthly obligations. The larger amount of rent or deposit that your are willing to pay, then the more likely you are to be approved as a renter.

Use a Co-signer with Excellent Income and Credit

Finally, if looking in an area with lots of available rentals, offering a large deposit, and looking at individually owned and managed apartments still hasn't resulted in an apartment for you to rent, then you can ask someone with good credit and a high income to co-sign your rental agreement. A co-signer will agree to pay your rent in the case that you do not do so as promised. Since your co-signer is responsible for your rent if you don't pay it, you should only go this route if you are certain that this will not be necessary.

For more information, contact a professional like Byron Huffman, PC.