Finance

In real estate, a backup offer is often made on homes already under negotiation. One can make a backup offer in case someone else beats them to the home they’ve been eyeing. Once the real estate backup offers are received, the seller picks the one that’s best.

However, since offers sometimes fail to morph into an actual sale, it’s good practice to have a backup offer on the wings. Among reasons a sale may fall through include financing issues, problems with home inspections, family disagreements, employment, misunderstandings, and school preferences.Continue reading

In general, the ranking of how rich a country is typically based on the per capita gross domestic product. Indeed, the higher the GDP, the wealthier the country. In most cases, small countries with a high GDP rank at the top of the list.

Each year the International Monetary Fund, or IMF, releases the GDP per capita based on the purchasing power parity of all countries. Some of the wealthiest countries, such as Qatar, Saudi Arabia, and Brunei, have an abundance of resources and a relatively small population. Others, like Switzerland and Luxembourg, are also in the top ten mainly because of their solid banking and investment strategies that have helped propelled growth.Continue reading

Yes, we all are aware the old adage: a home is the biggest purchasing decision you will ever make.

It is true, though, especially considering how the average home in Canada’s biggest cities are nearing $1 million. Interested in buying property? Well, you will need to qualify first for a mortgage – unless you invested in bitcoin a couple of years ago and yielded 20,000 percent return!Continue reading

When it comes to finding the best mortgage rate, many are left confused. This is especially true with first-time buyers who may not know how to go about qualifying for a mortgage. That’s why, we’ve outlined the steps you should take below to find the best mortgage rates. That way, you can ensure a smooth home buying process.

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We all know that maintaining a decent credit score involves paying your credit card bills on time, but there are many other factors that could contribute to a poor credit rating. The score ranges from 300 to 850. To achieve a solid rating, you will need to score a number higher than 650. A poor credit rating will typically fall below 620. To keep your credit rating at a good level, look out for the following factors that could potentially harm your rating:

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An insurance broker goes by many names, including insurance representative and field agent. The insurance broker roles and responsibilities rely on a skill set that prioritizes efficiency, drive, determination, ethical behaviour, and more.

An insurance broker specializes in many skills and performs different types of tasks. Here is a list of insurance broker roles and responsibilities, and more information behind the position.Continue reading

Credit scores exist to make decisions easier for lenders such as banks and credit unions by helping them establish a borrower’s creditworthiness. A credit score can be defined as a numerical expression generated from information from a person’s credit files (credit report), sourced from credit bureaus.

The lenders use the credit score to determine who qualifies for a loan, who is most likely to bring in the most revenue and also to evaluate how much of a risk they are taking by lending to a person. There are various types of credit scores, which generally range from 300 to 850 points and are used by credit bureaus to evaluate a person’s worthiness to receive credit. A bad credit score may mean your loan options are severely limited.

To help you understand more, below are six different types of credit scores and their ranges:

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Have you ever been a part of an audit? If so, then you know the headaches involved. If not, then just you wait until you are a part of one. It can turn a business – large or small – upside down and wreak havoc on your corporate reputation, even if the process and results are benign. However, not all audits are equal; there are various categories of audits for different things. Some of them are not too big of a deal, and a few of them will make you want to crawl into a hole.

No one will argue the fact that audits can turn your company upside down. The very word audit can send shivers up and down your spine. It triggers nightmares among company owners, executives, and anyone who handles the books. However, certain types of audits are useful in not only catching unscrupulous individuals and schemes, but also in improving your operations, remedying mistakes, and instituting fairness.

For the most part, the different types of audits can serve as checkups. It is the audits led by the government that can induce headaches since the state has infinite resources to make your life a living hell. Let’s hope that with tax season around the corner, you do not need to bite your fingernails.

Here are the nine popular types of audits for businesses:

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Financial ups and downs are a part of life for the majority of people. There will be times in your life where you may be feeling pretty secure and able to cover all your expenses comfortably, then there can be those times where money is extremely tight and you end up falling further and further in debt. Whether from a loss of a job, an illness, unexpected expenses, or some other reason, you may even find yourself in the position of having to declare personal bankruptcy.Continue reading

Understanding mortgage rates can be slightly intimidating, especially since you’re dealing with such big numbers. However, it’s important to remember that the basics stay the same as any other transaction that involves interest paid on money lent.

When it comes to mortgage terminology, the most common question that people ask is: “What is a mortgage rate?” The mortgage rate is the cost that the lender charges you for borrowing money for your home loan. In layman’s terms, it works exactly the same as a car loan or the interest paid on credit cards.

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