The Premier Name in Real Estate185 Clinton Avenue, Cortland, NY 13045

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MLS #S1220410$79,000

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VIRGIL

Enjoy the process of assisting in the build of your brand new home.

MLS #S1176641$265,000

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CORTLANDVILLE

Completely remodeled one level living home.

MLS #S1225591$87,500

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MARATHON

Small acreage w/a large pole barn.MLS #S1225967

$64,000Call Tim Alger

GROTON

Custom-built home with stone accents.

MLS #S1214395$499,000

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Extraordinary property on almost 82 acres of land.

MLS #S1197820$450,000

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LAPEER

Well maintained neighborhood home.

MLS #S1198019$250,000

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FREEVILLE

Beautifully remodeled home in the country.

MLS #S1214701$179,900

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CINCINNATUS

Wonderful ranchdesigned for easy living.

MLS #S1198923$199,000

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MARATHON

Small deck and fully fenced back yard.

MLS #S1208912$78,500

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CORTLAND

Country living and a home ready for your finishing touches.

MLS #S1196711$64,900

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GERMAN

Open LR with an incredible stone FP.

MLS #S1220521$219,000

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CORTLAND

Make this beautifullyrenovated home yours!

MLS #S1205570$208,000

Call Tracy Koenig

MARATHON

Nice spot forcountry living.MLS #S1099304

$44,900Call Joan Plew

HOMER

Over 3,500 sq. ft.of living space.MLS #S1187989

$249,900Call Jamie Yaman

CORTLAND

You will love the easylocation of this property.

MLS #S1215383$285,000

Call Connie Mack

CORTLAND

Convenient to city parks, shop-ping, church, restaurants and I-81.

MLS #S1213276$117,500

Call Sandy Ludwig

CORTLAND

On a quiet street in the city of Cortland.

MLS #S1218883$149,900

Call Terry Howell

CORTLAND

Great outdoor space with a welcoming front porch.

MLS #S1212015$225,000

Call Nicki Wynn

CORTLAND

Newly remodeled with new floors & kitchen.

MLS #S1212955$129,000

Call Pam Williams

CORTLAND

Marvelous 5 bedroom, 3.5 bath home.MLS #S1215009

$219,000Call Connie Mack

CORTLAND

Gentleman’s farmon 120 acres.

MLS #S1189286$420,000

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OWEGO

Cute Cape Cod style home nestled in Cortlandville.

MLS #S1198996$69,900

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CORTLANDVILLE

Maintenance free ranch home.

MLS #S1176644$245,000

Call Jamie Yaman

CORTLANDVILLE

Our mission at Yaman Real Estate is to be the most respected, reliable, and effective real estate service provider available.

In a peaceful and private setting.MLS #S1224603

$145,000Call Nicki Wynn

GROTON

Beautiful two family home.

MLS #S1224223$195,000

Call Jamie Yaman

NEWFIELD

Small farmette only minutes from city.

MLS #S1224748$154,500

Call Tim Alger

CORTLAND

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Beautiful, all brickColonial on a quiet street.

MLS #S1224242$159,000

Call Tracy Koenig

E. SYRACUSE

Ranch home w/very large generous bedrooms.MLS #S1223348

$159,000Call Pamela Cullip

CORTLAND

3BR/2 full BA home in the city of Cortland with a yard.

MLS #S1225397$115,900

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CORTLAND

TerryHowell

Assoc. Broker423-2385

TOP AGENT OF PERFORMER THE MONTH

TracyKoenig

Salesperson423-9745

LindaMuirheadSalesperson423-4256

SandyLudwig

Assoc. Broker745-5181

IngridDunham

Salesperson591-9216

KarinaMurphy

Salesperson379-9815

JamieYaman

Principal Broker423-1369

AngelaWilde

Salesperson662-3397

SteveCinquantiAssoc.Broker/

Commercial Sales423-7800

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Joan PlewAssoc. Broker275-7072

HOURS:MON.-FRI. 8:30AM-5:00PM,

SAT. 9AM-1PMOR CALL FOR AN APPOINTMENT!

2,700 Sq.ft. ranch style home w/newly painted exterior!

MLS #S1220198$188,000

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CORTLAND

Nestled on 1.6 acres and set off the road.

MLS #S1221389$225,000

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TRUXTON

PamWilliamsSalesperson745-3731

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Pamela Cullip

Salesperson261-0439

Sue Sherman-Broyles

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Tim AlgerAssoc. Broker423-6174

ConstanceMack

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EstateCortland StandardReal

Thursday, September 26,

2019

Featured HomeWelcome to this fantastic tri-level home. Meticulously maintained for many years. Too many updates to list. The view is something you will want to see every day waking up. Home offers 4 bedrooms and 2 full baths, one on each �oor. Covered patio for those great evenings. Large paved driveway leading you into a two car attached garage that is insulated in walls and door. Dryden school district. Drive by, home is set off the road... better yet call today and see this home! Home is seconds from Cortland County line and actually has a Cortland mailing address, however taxes are Dryden Schools and Town of Groton. Located in Tompkins County. $179,900 ~ MLS# S1226042. Call Pamela Cullip, Lic. RE Salesperson, at (c) 607-261-0439 for more information and/or an appointment. For more listings see our ad below.

– 132 McLean Rd., Groton

Featured Listingsl Yaman

Real Estatel Hage

Real Estatel Heritage

Realtyl Howard Hanna

Real Estate

2A — Cortland Standard, Thursda , September 26, 2019 Real Estate

Real Estate CornerCortland CountyBoard of Realtors

Cortland County Board of Realtors®

— The Voice of Real Estate

AUGUST 2019

As the summer draws to a close, multiple opposing factors and trends are competing to define the direction of the real estate market. After the Federal Reserve lowered its bench-mark interest rate on July 31, 30-year mortgage rates continued to decline, approaching all-time lows last seen in 2016. Yet most experts agree these reductions are unlikely to bring suffi-cient relief, at least in the short term, for first-time home buyers. The lack of affordable inventory and the per-sistence of historically high housing prices continue to affect the hous-ing market, leading to lower-than-expected existing home sales at the national level.

New Listings were down 2.8 per-cent to 18,117. Pending Sales de-creased 1.1 percent to 12,756. In-ventory shrank 3.2 percent to 71,230

units.Prices moved higher as the Me-

dian Sales Price was up 8.0 percent to $296,900. Days on Market held steady at 61. Months Supply of In-ventory was down 3.0 percent to 6.4 months.

As many homeowners refinanced their homes to take advantage of de-clining interest rates, consumer con-fidence in housing was reported to be at historically high levels. Even so, real estate professionals will need to monitor the market for signs of continued imbalances. Although the inventory of affordable homes at this point remains largely stable, it is sta-ble at historically low levels, which may continue to push prices higher and affect potential buyers across the U.S.

———Current as of September 10, 2019.

All data from the multiple listing ser-vices in the state of New York. Report © 2019 ShowingTime. For the com-plete report, go to www.cortlandmls.com

Market feels push and pull of different trends

Source: Scarborough Research (Top 50 Market Report)

By KATE IRByMcClatchy Washington

Bureau (TNS)WASHINGTON — President

Donald Trump’s tariffs have cre-ated the “perfect storm” at the wrong moment for the housing industry, California builders say.

The California Building Indus-try Association estimates tariffs have driven up the cost of an av-erage-size new home by $20,000 to $30,000.

That comes from tariffs on ap-pliances, certain counter tops and other miscellaneous items that “at the end of the day, really add up,” according to Dennis Fitzpatrick, owner of Fitzpatrick Homes in Modesto.

The industry was already strug-gling, particularly in California, because of increased costs. They face rising fees from local govern-ments and a shortage of space and labor to build. The added cost and uncertainty of tariffs have pushed it that much further, builders say.

“This created the perfect storm of the wrong kind,” said David Logan, director of Tax and Trade Policy at the National Association of Home Builders. “All the stars aligned for the worst outcome.”

The tariffs against China in-creased from 10% to 25% in May on about 500 items involved in housing, such as appliances, nails, lighting, laminate, tile, cab-inets and other common finishes

in housing made from aluminum, steel and lumber.

The home builders association estimates the tariffs will ultimate-ly cost home buyers $2.5 billion per year nationwide. Facing those costs, builders such as Fitzpatrick have to find other materials to use in homes or pass the charges directly on to their customers — those looking to build or renovate their homes.

Trump has billed the tariffs as necessary to fight unfair actions by China, including intellectual property theft. He consistently says that China is paying the tariffs, though experts agree that consumers are the ones who end up paying for tariffs.

While the tariffs are not the most cost prohibitive part of building a home, particularly in California, they can price some families out of the market.

Dan Dunmoyer, president of the California Building Industry Asso-ciation, said increasing the cost of $500,000 home in the state by even $10,000 would price out thousands of families. The median price of a home in California in June was $611,000 according to state data.

“So it is a tipping point for those families,” Dunmoyer said. “But so many other things have pushed it up to that point,” he added, citing the expensive and unregulated community fees as-sessed by local governments.

Tariffs worsen Calif. housing crisis

Cortland Standard, Thursday, September 26, 2019 — 3AReal Estate

Corrie OustadAssoc. RE Broker

(c) 607-745-0718

Rosemary TaboneAssoc. RE Brkr., CBR (c) 607-423-1068

David DonlickAssoc. RE Broker

(c) 607-279-3849

Diann Potter Assoc. RE Brkr., CBR (c) 607-745-1520

Sally Brown KurtzAssoc. RE Brkr., CBR, GRI(c) 607-345-5353

Marinda MeyersRE Coordinator

(c) 607-591-7824

Joanne M. SweeneyAssoc. RE Broker, GRI(c) 607-423-5623

Carrie WhiteRE Salesperson

(c) 607-299-0906

Michelle ReynoldsRE Salesperson

(c) 315-559-7737

Susan BriggsAssoc. RE Broker

(c) 607-745-3355

Kaitlin BerryRE Salesperson

(c) 607-745-8767

Adele FetterlyAssoc. RE Broker

(c) 315-378-2663

Jenna GregoryRE Salesperson

(c) 607-591-5101

Tom CumminsAssoc. RE Broker

(c) 607-423-6733

Trevor SydneyRE Salesperson

(c) 607-597-9468

Dana DeckerPrincipal Broker, GRI(c) 607-423-4719

Gugulethu PinckneyRE Salesperson

(c) 607-345-4697

Marty ShimerRE Salesperson

(c) 607-423-1032

Yaman Featured Property

26 Floral Ave., Cortland. CONVENIENTLY LOCATED near the park, schools, downtown and SUNY Cortland on a nice city street is where you’ll �nd this well cared for, three bed-room city home. Featuring easy maintenance with newer roof, furnace, vinyl siding and windows, plus central air condition-ing. Offering a large living room, formal dining room, kitchen with wood stove, front foyer and back mudroom area, with a great front porch and yard. MLS# S1223914. $132,900. Call Nicki Wynn, Lic. Assoc. RE Brkr., (607) 745-3942.

Howard Hanna Featured Property

GREAT 2 STORY HOME. Offering 2 bedrooms with a possible 3rd, large kitchen, deck off of dining room leading to a private back yard fully fenced. Home is located near hospital, parks, downtown Cortland. MLS# 400529/S1222936 $108,000. Call Howard Hanna Real Estate Services at 607-257-0800.

By Holly D. JoHnsonBankrate.com (Tns)

In recent years, sellers have called the shots in homebuying negotiations. They've had plenty of leverage, too, thanks to surges in buyer demand, tight inventory and soaring home prices in many top markets around the country.

But we all know that the housing market is a cyclical one. Pricing and demand that goes up eventually goes down, and the hot summer housing market often cools by the time winter rears its chilly head.

If you're needing to sell a house and can't wait for next year's warm-weather sales surge, you'll need to act fast. To get to the closing table sooner rather than later, sellers may need to adjust their expectations and approach. Here are six important steps you can take now to sell your home before the new year is here.

1. Rely on comps — not emotion — to set a realistic asking price

First things first. Experts say you'll want to jump into the housing market with a realistic asking price that has the potential to stick. This part can be hard for sellers to wrap their heads around since many want to "test the market" with a higher sales price knowing they can drop it later. This approach, howev-er, is a mistake, says Chicago real estate agent David Cahill.

"If your home is priced too high, it can be very difficult to overcome, even when you eventually reduce the price," he says.

This is one area where you may want to let your agent lead the way. Cahill says a good real estate agent will do a comparative market analysis that helps you price your home based on recent comparable sales in your area — not just hopes and dreams.

The best agents will even go the extra to mile to find out the prices of com-parable homes with a recent or pending sale in process, he says.

You're paying your agent for their professional advice and expertise, so when they suggest a sales price based on mountains of research, you should listen.

2. Ask your agent for 'first look' feedback

Homeowners hoping to unload their properties by year's end will need to enter the market with their best foot forward. This means having a house that is easy to sell and free of glaring problems.

Michael Kelczewski, a real estate agent with Brandywine Fine Proper-ties Sotheby's International Realty in the Greater Philadelphia area, says you should not only ask for real estate agent feedback but review all of their notes — both positive and critical. It's also a good idea to have your agent gather buyer feedback from people who tour your property so you understand what buyers love (and don't love) about your home.

Your real estate agent may be able to point out defects you've overlooked like forgotten windows with cracked seals or the fact that your teenager has heavy metal posters plastered wall to wall. Or perhaps they'll remind you that most people want to park in their ga-rage instead of using it to store boxes of photos and old clothing.

Consider agent feedback carefully and implement their suggested changes to potentially avoid losing out on a sale due to minor issues.

3. Clean, organize and declutterIt's possible your agent will advise

you take down family photos and clear out your closets right away, but you

should make time for a major cleanup regardless.

Cahill says you should "do everything within your budget to ensure your home gives a great first impression." For ex-ample, give your front door a fresh coat of paint, trim back overgrown shrubs and keep your lawn in tip-top shape.

While your home is on the market, the interior should also be clean and ready for a last-minute showing at all times. Cahill says to start by removing clutter, getting rid of any oversized furniture and taking down busy decorations.

"Rent a storage unit if you need more space," he says.

Stay on top of cleanliness by taking time to wipe down counters, sweep floors and touch up bathrooms ev-ery day. Nobody wants to buy a dirty house.

4. Consider hiring a professional stager

If you have the cleaning part down pat but need help making your home visually appealing, you can also con-sider hiring a professional stager, Cahill says. Home stagers have furniture, art and decor they use to make your home

feel modern and increase your chances at a speedy offer — an important con-sideration for anyone, but especially if your home feels especially dated.

Does staging work? Most experts would say it does. In fact, a recent study from the National Association of Real-tors showed that 83% of buyer's agents said staging helped their clients envi-sion living in that specific home. Also, 28% of seller's agents said they staged all of selling clients' homes before put-ting them on the market. However, 13% reported staging homes only if those properties were difficult to sell other-wise.

5. spring for professional photos and video

Where potential buyers perused the local newspaper for new home list-ings decades ago, pretty much all home marketing is done online now — either through multiple listing services (MLS), real estate websites, email marketing or a combination of all of these avenues.

Susan Bozinovic, a Realtor with Cen-tury 21 Town & Country in Troy, Mich-igan, says this is why quality pictures are crucial if you hope to achieve a

quick sale. Hire a photographer to take high-quality pictures and consider hav-ing your real estate agent's office create a marketing video, she says.

Drone photography might be an im-portant factor to sell a sprawling prop-erty with land or a ton of outdoor fea-tures, she adds.

Bozinovic also emphasizes the im-portance of social media marketing — especially on Facebook.

"I found that running ads on the Fa-cebook platform is superior to any other social media space because the audi-ence can be targeted very specifically," she says.

If you're hoping to spread the news of your home for sale far and wide, it may also help to work with a real estate agent who has knowledge of social me-dia marketing and other strategies to get more eyeballs on your virtual listing.

6. Get an optional pre-sale home inspection

Never assume your home is in per-fect physical condition; take the time to make sure. Paying for a home inspec-tion upfront is typically a safe bet. With prior knowledge of issues like missing shingles on your roof or faulty electrical work, for example, you can buy time to fix these problems before they become a problem.

Cahill also says that hiring a home inspector to conduct a thorough inspec-tion before you list your home may "in-spire greater confidence in your home's condition among potential buyers."

This is true even though most savvy buyers will likely hire their own inspec-tor.

Also note that, if you take the time to fix big problems discovered in an in-spection before a sale is underway, the negation process could be "short and sweet," Cahill says.

BoTToM lInEA speedy home sale could be in your

future if you take steps to avoid com-mon problems that turn off potential buyers. This includes making sure your home is beautiful and clean, but it also means uncovering major defects or re-pair needs before someone else does.

There's still plenty of time to get to the closing table before the end of the year. Working with an experienced real estate agent who knows the local mar-ket trends and can help you set a realis-tic price are key pieces to the puzzle.

———Visit Bankrate online at www.bank-

rate.com.

Tips to sell your house before the end of the year

Dreamstime/TNS6 tips to sell your house before the end of the year.

By GaRy M. sInGERsun sentinel (Tns)

Q: I have been on a tear, damaging homes up the Atlan-tic coast. How does this affect people who are under contract to buy or sell a home? — Dorian (yes, that Dorian!)

a: Here in Florida, we are ex-perienced in dealing with you and your siblings. When we get wind that you are coming to town, it becomes next to impos-sible to get homeowner’s insur-ance and financing approval, de-laying most closings.

The standard real estate con-tract used in most closings will contain a clause dealing with the issue of a natural disaster or “force majeure.” Typically, the closing will be delayed for a week after things return to nor-mal.

However, if the delay lasts for more than 30 days, either the buyer or seller would be able to cancel the contract. Of course, it’s important to carefully review the terms of each particular con-tract as it might be different from the standard.

After you leave town and power and water are back on, the buyer will need to have the home carefully inspected for damage. Generally, if the repair cost is no more the 1.5% of the pur-chase price, the seller must fix the problems, hopefully before closing. If they take longer to fix, the funds will be held in escrow while the seller keeps at it.

If the repairs cost more than that, the buyer can take the 1.5% as a repair credit on the closing statement and close as-is, or can-cel the contract and get the de-posit back.

The buyer and seller, or their real estate agents, should stay in good communication with each other, the closing agent, and lender to determine what must be done to continue to closing. Everyone should stay patient and work with the process as things return to normal. In my experience, things get back on track fairly quickly, and very few deals are lost due to a storm.

What happens when a storm

disrupts home deals?

4A — Cortland Standard, Thursday, September 26, 2019 Real Estate

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I nc r ed i b l e Oppo r t u n i t y19.48 acres with incredible views and

great back deck. Lots of work has been done to the home.

** Shuryl Menapacec.607.423.3842

MLS 313386/S1115611 $99,000

C O RTLAND

One of only two townhouses in Greek Peak Mountain Resort Panorama

District. 3- Level living. *** Jolene Rightmyer-Macolini

c.607.339.1559MLS 317664/S1201390 $290,000

Gr eek Peak Re so r t

***Assoc. R.E. Broker **R.E. SalespersonMLS # IBR/CBR*Money Back Guarantee, certain restrictions apply.

Upsize or start a business in Cortland. So many possibilities. Located on the

main route. ** Anita Bryanc.607.220.4727

MLS S1191060 $750,000

C O RTLAN D

Look i ng t o E xp a nd

C O RT LAND

Gr ea t O ppo r t u n i t yStart your own business. Building is 3,749 sq�. O� street parking, near

downtown. Bring your ideas!** Shuryl Menapace

c.607.423.3842MLS S1150119 $110,000

CORTLAND

In Walden Oaks Community. First �oor master with bath. Great back yard with in-ground heated pool.

*** Kevin Brady Jr.c.607.220.8187

MLS 317741/S1211986 $289,000

Wonde r f u l Home

CORTLAND

Charming 1870 home in amazing condition. Spacious lot o�ers plenty

of room.** Jalamang Bayo

c.202.641.5181MLS 317505 $100,000

Wh a t a L o ca t i on !

C O RTLAN D

Very unique in every way. �is 5.33 acre property has multi-use potential.

Great income property potential** Richard Calale

c.607.423.5233MLS 317987/S1218459 $189,000

Un i que P rope r t y

36 Main Street, Cortland NY 130452333 N Triphammer Road Suite 1 and 710 Hancock Street Ithaca, NY 14850

607-257-0800HOMER

It’s like the perfect home, in a country setting, but not far from town! Beauti-

ful bakers kitchen. ** Anita Bryanc.607.220.4727

MLS S1187112 $285,000

MUST SEE ! !

Look for the "MBG" to indicate participating properties!

Look for the "MBG" to indicate participating properties!If the buyer of a guaranteed home listed by Howard Hanna is not satis�ed, we will buy back the home for 100% of it’s purchased price. *Certain restrictions apply.

�e Leader in Real Estate Technology.HowardHanna.com/GoGreen

CHOOSE #1Look for the “HSA” to indicate participating Home Warranty properties!

Look for the "MBG" to indicate participating properties!If the buyer of a guaranteed home listed by Howard Hanna is not satisfied, we will buy back the home for 100% of it’s purchased price. *Certain restrictions apply.

Look for the “HSA” to indicate participating Home Warranty properties!

Howard Hanna Real Estate Services is not a mortgage lender. Contact 1st Priority Mortgage, Inc. for mortgage products and eligibility. NMLS #29600, (888)-500-9733 or 1stprioritymortgage.com

MOVE FASTERBuy Before You SellGet Moving at HowardHanna.com/MoveFaster

Hage Featured Property

NEW LISTING ~ BEAUTIFUL HOMER VILLAGE RANCH ~ Enjoy cul-de-sac living in this charming 3BR/1.5BA ranch, featuring a large FR with FP, eat-in kitchen w/breakfast bar, �nished lower level, and full fenced yard with inground pool. Admire the character in HW �oors, French pocket doors, pub-lic utilities and more. ~ $174,500 ~ MLS# S1226213. 11 Brent-wood Dr., Homer. Call Jerry Hartnett, Lic. Assoc. RE Brkr., c. 607-423-4278, Hage Real Estate. For this listing and others visit www.hagerealestate.com or call 607-753-6766.

By Beth BravermanBankrate.com (tnS)

If you’re dreaming of hom-eownership but don’t quite have the down payment or credit pro-file to make it a reality, a lease-to-buy option is one of several avenues to consider.

What IS a LeaSe-OPtIOn-tO-BUY?A lease-option is a contract

in which a landlord and tenant agree that, at the end of a speci-fied period, the renter can buy the property. The tenant pays an up-front option fee and an ad-ditional amount each month that goes toward the eventual down payment. If you decide not to purchase the home at the end of the agreement, you’ll lose your option fee as well as any money you put toward a down payment, but a seller can’t come after you for opting not to follow through with the purchase.

Lease-option contracts go by other names, including:n Rent-to-own agreementsn Rent-optionn Lease-to-buy optionn Rent-to-buy optionn Lease-with-option-to-buyn Lease -wi th -op t ion - to - purchase

QUeStIOnS tO aSK aBOUt LeaSe WIth

OPtIOn tO BUYLease-with-option-to-buy

contracts can be complicated, so make sure you’ve answered the following questions before mov-ing forward:

1. How is the deal structured?You’ll want to understand all

of the terms of the deal, includ-ing the length of the agreement and the amount of the option fee, which can be any amount, but typically varies from a few hun-dred dollars to 20% of the value of the home. Typically, you’ll pay above-market rent, with a portion of your rent going toward a future down payment on the property. You’ll want to counsel of a real estate attorney who has experience with these agreements to look over the contract before you sign it.

2. What’s my plan to prepare for the purchase?

Talk to a lender before enter-ing into the lease-option-to-buy agreement to make sure that they’ll credit the money you’ve paid to the homeowner on top of your rent payments toward your purchase. This way, you’ll know how much money you’ll need to cover a down payment and clos-ing costs later on.

“When you do a lease-option, you’re betting that you’re going to qualify for a mortgage and be able to execute and buy the prop-erty,” says Timothy McFarlin, a Los Angeles-based real estate at-torney. “Make sure that you have a path to do that.”

In addition to amassing a down payment, use your time renting to improve your credit in order to qualify for the best possible rate when it’s time to buy the home. In other words, pay down your debt, avoid opening new credit accounts and pay all of your bills on time.

3. How is the housing market in my area?

You can either agree on a pur-chase price in advance or agree that the sale prices will be contin-gent on an appraisal at the time of sale. Home values can fluctu-ate during your lease period, so it’s important to know if the price can be adjusted before you buy.

In a market where home prices are going up, it can benefit the buyer to lock in a price in ad-vance. But in a market where prices are falling, you may end up agreeing to pay more than the home will be worth at the time of purchase. In that scenario, you might have a harder time getting approved for a mortgage or as-sembling a sufficient down pay-ment plus closing costs.

4. Who’s responsible for what?

The lease-option contract should spell out who’s respon-sible for the maintenance and re-pairs of the home, as well as who is going to pay for homeowners association fees and utilities. You’ll need to have renter’s in-surance, and the owner is respon-sible for purchasing landlord’s insurance.

5. Do I need a home inspec-tion?

As with any home purchase, it’s critical to get a professional home inspection to ensure you’re making a sound investment. It will cost a few hundred dollars upfront, but it’s worth it to ensure

a property doesn’t have major red flags. If the inspection report uncovers costly problems, you’ll want to work out when those re-pairs will take place and who’s going to pay for them.

6. Have I considered other op-tions?

A lease-option-to-buy arrange-ment can be a solution for some potential homebuyers, but it’s not right for everyone. If you’re not certain that you’re going to be able to purchase the rental home at the end of the lease pe-riod, you might be better served with a standard rental agreement. Meanwhile, take time to work on your credit, save up extra cash and get your finances in better shape so you can strike when the time’s right. After all, it’d be a waste to plunk down extra mon-ey on a lease-option and above-market rent without making any meaningful progress toward ho-meownership.

Kimberly Cole, a spokes-woman for Navicore Solutions, a nonprofit financial counseling company, suggests that potential buyers look into a down payment assistance program from the U.S. Department Housing and Urban Development.

“The terms of those programs might serve you better and give you an opportunity to buy right away, as opposed to being be-holden to a landlord for a year,” Cole says.

BOttOm LIneOnce you’ve determined that

a rent-with-option-to-buy agree-ment makes sense for you, ask a real estate attorney to look over the paperwork, which may in-clude a separate rental agreement and purchase contract. Have your lawyer walk you through the agreement and ask for clari-fication on anything you don’t understand before signing on the dotted line.

6 questions to ask about a lease-option to buy a home

Dreamstime/TNS

Bankrate.com (tnS)If you’re getting married, you’re undoubtedly

making a lot of decisions as a couple — from the flowers you’ll have at your wedding to where you’ll live after you say, “I do.” You’re probably also dis-cussing how to handle your finances as a couple.

If you aren’t, you should be.Part of your premarital money discussion

should involve your credit history, any debt you’re both bringing into the relationship and how your credit may (or may not) be affected by each other’s financial past.

Do you share credit histories when you get married?

Both adults come into a marriage with their own credit history. When you get married, your

credit history remains your own and your partner keeps theirs, too. Getting married won’t directly affect your credit score or your credit history.

If you apply for credit together, such as apply-ing for a mortgage, the lender will evaluate the credit of both borrowers.

Only in the community property states of Ari-zona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin do lenders look at the credit reports of both parties when one person applies for credit.

However, realize that if you have a joint bank account or other joint assets and a credit card is-suer, loan company or even the IRS garnishes wages to collect a debt, jointly held assets can be seized.

How does marriage affect credit?