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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>gimletyms.info</title> <atom:link href="http://gimletyms.info/feed" rel="self" type="application/rss+xml" /> <link>https://gimletyms.info</link> <description>Just another WordPress site</description> <lastBuildDate>Wed, 13 Mar 2024 22:26:20 +0000</lastBuildDate> <language>en</language> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.1.3</generator> <item> <title>Student Loan Interest Rate Problems</title> <link>https://gimletyms.info/47</link> <comments>https://gimletyms.info/47#comments</comments> <pubDate>Tue, 18 Jul 2023 07:26:01 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Online payday loan]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=47</guid> <description><![CDATA[If the interest rate, on these loans stays at 6.8%, the increase in revenue after ten years would net in $184 billion dollars. So basically according to press releases, Congress failed to come up with a new plan and missed their July 1st deadline. Congress came up with a plan previously; however it failed to [...]]]></description> <content:encoded><![CDATA[<p> If the interest rate, on these loans stays at 6.8%, the increase in revenue after ten years would net in $184 billion dollars. So basically according to press releases, Congress failed to come up with a new plan and missed their July 1st deadline. Congress came up with a plan previously; however it failed to address an expense of $6 billion dollars and the president vetoed it. Looking at the current student debt figures, the average student loan debt is at $27K and with latest calculations there are 7 million new students, and many of them would be affected by this increase in interest. Totaling up the amount that will be charged to the loan based on the new interest rate, an increase of about $5,000 dollars would be experienced to each student who is awarded these loans.There were several factors involved that caused this deadline to be missed, one of which included the President. A few months ago President Obama vetoed the Bill freezing the interest rates at 3.8% for the next two years. After vetoing the Bill, Obama stated that the interest rate would have gone to 6.8% after two years anyways, and that the President wants to see a longer term solution be put in place. With the previous Bill passed by a Republican majority, the Democrats hadn’t been seeing eye to eye with them, and the Democratic side of the house was looking for a longer term solution as well. Luckily for all of us American People, the President is a Democrat, sharing the same views as the democrats in congress, who unfortunately didn’t have enough weight to cause any influence on this previously passed bill. So the president simply vetoed this Bill passed by congress and forced them to come up with another plan. Interestingly enough had this Bill been passed by congress as well as the president, the cost associated to freezing the interest rate at 3.8% would have been around $50 billion dollars.Throughout the congressional session that was held on July 24th, here are some of the facts that were used in support of their new plan. One senator mentioned that some of the schools have tuition costs upwards of $60K per year to attend, and that many of these schools charging these high tuitions have extremely high drop-out/ failure rates. He went on to say that these high costing schools increase the US education debt frivolously. Unfortunately the current US education debt is at $1 trillion dollars, climbing by 113 billion dollars this year, and that this figure is roughly about $53k per person in the US. Now in these post-recession times, the unemployment rate for young adults aged 20-24 are at 14%. This high unemployment rate has an influence on people wanting to return back to school since they cannot find enough jobs and the jobs that they can find have reduced wages or in a not profitable career field. Some people even continue attending school after they graduate due to the situation with our American economy. Altogether this congressional session was about 3.5 hours long and gave many grueling details about the effects of higher interest rates on the American people and what influences this has on the education debt.Having higher interest rates effects the American population in many ways. It was well noted that having a larger interest rate could cause debts to grow too large for future graduates to pay off and cause them to default, as well as to have to pay off for the rest of their lives, or even to take these bills with them to the grave. Some grandparents end up taking out loans for their grandchildren to go to school and when the children default the grandparents sometimes end up having to have their social security checks garnished. People are having trouble living a life that is fruitful when their loan payments are large and end up having to pay them back for decades due to the high costs of the schools and coupled with higher interest rates. President Obama is interested in seeing a system that has the interest rate capped at the time the loan is awarded, and that loan repayments shouldn’t be more than 10% of a persons’ income.One thing that can help to coming up with the cash to pay these loans as well as to make your payments on time is an installment or payday loan from Lenders. You never know when an emergency or something might come up that causes you to struggle to make your student loan payments. A payday loan can help you out; trained and experienced customer service reps are available to help you out. Cash fast and money direct deposited into your bank account same day, usually within an hour. Getting a Loan from lenders can help you maintain those payments when times are difficult.Thankfully congress re-convened on July 24th and passed another bill that has a similar increase to the interest rate, but allows for the increase to be gradual over time. The formula that will be used to gauge the interest rate charged will be to have the loan interest rate be based on the 10 year Treasury note. So currently, for undergrads, that is 2.05% over the 10 year note, graduate students + 4.5%, and parents will be + 6.3%. People should be very relieved to hear that the current attending students will only be paying an increase to 3.8% for undergrads, 5.4% for graduates, and for parents sending their children to school the interest rate will be at 6.3%. Over time the interest rates will go up and congress and the president hope that this will give our economy more time to bring more jobs and wages to the American people. <br/><a style="display:none;" target="_blank" href="http://jasabacklinkpro.info">jasabacklinkpro.info</a><a style="display:none;" target="_blank" href="http://jasabacklinks.info">jasabacklinks.info</a><a style="display:none;" target="_blank" href="http://kalipakem.com">kalipakem.com</a></p><div class="mads-block"></div>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/47/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Online Auto Loan Calculator: Your Smartest Move Before Buying a Car</title> <link>https://gimletyms.info/45</link> <comments>https://gimletyms.info/45#comments</comments> <pubDate>Tue, 28 Mar 2023 15:54:11 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <category><![CDATA[Online Auto Loans]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=45</guid> <description><![CDATA[Buying a car on loan requires a careful evaluation of expenses as it may lead to a budgetary imbalance. If you are not aware of factors such as monthly payments, interest rates, term of the loan, loan conditions, etc., it can cause a financial disaster. But, do not worry because an auto loan calculator is [...]]]></description> <content:encoded><![CDATA[<p> Buying a car on loan requires a careful evaluation of expenses as it may lead to a budgetary imbalance. If you are not aware of factors such as monthly payments, interest rates, term of the loan, loan conditions, etc., it can cause a financial disaster. But, do not worry because an auto loan calculator is one of the most important financial tools that can help you avoid the times of distress. If you use it, it can prove to be your smartest move as a car buyer.Let us look into the Basics of an Auto Loan Calculator – what, how and why?What is an Auto Loan Calculator?An auto loan calculator is a tool which helps in calculating the amount of loan to be repaid. It also includes the interest rate, price of the car, term of the loan, the monthly payment amount and the additional car-related taxes that you have to pay to the local government.It is available online and can be helpful at the time of negotiating with car dealers. Basically, it helps you to do homework before you step out of your home to buy a car.How does it work?You can access the calculator by visiting the websites of a car dealer or an online auto financing company. In order the find the total payable amount and the total interest amount, you will have to fill the following required fields:· The loan amount approved by the lender· The interest rate· Number of monthsOnce you provide the details, the total payable amount will be calculated in seconds.Why Use an Auto Loan Calculator?The foremost advantage of using the tool is the ease of calculating monthly payment. It helps to avoid confusion by letting you calculate your monthly payments in advance so that your expenses do not interfere in making regular payments.It is difficult to compare two loan quotes on the basis of monthly payments. But, with the help of an online calculator, you will be able to compare each and every aspect of the loan quote. It will help you in choosing the best car loan quote.Last but not the least; a good calculator saves you time and money. You can request the lenders to send you loan quotes. It will help you to compare them online without the need of visiting several lenders and dealers for loan quotes.So, before you set out to sign the loan contract, make sure that you do not forget to use the online auto loan calculator because it can be your smartest move as a car buyer. </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/45/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Online Auto Loans – Easy Car Financing With Just One Click</title> <link>https://gimletyms.info/43</link> <comments>https://gimletyms.info/43#comments</comments> <pubDate>Tue, 28 Mar 2023 13:43:24 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <category><![CDATA[Auto Loans]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=43</guid> <description><![CDATA[Cars are the epitome of success. It is often said that buying an automobile symbolizes a financially strong individual. But, cars have become so much expensive that auto loans have become the order of the day.Most car buyers get overwhelmed by the very sound of “auto financing”. This is because getting approved for a car [...]]]></description> <content:encoded><![CDATA[<p> Cars are the epitome of success. It is often said that buying an automobile symbolizes a financially strong individual. But, cars have become so much expensive that auto loans have become the order of the day.Most car buyers get overwhelmed by the very sound of “auto financing”. This is because getting approved for a car loan is often a lengthy process. Plus, several other factors are at play. You have to manage your budget, get the car information, provide the lender with satisfactory replies and then endlessly wait for approval. PHEW! Too much work isn’t it? Well, you can slash down your work by going online.Online is the Way for every AmericanWhen you opt for online auto financing in America, you have the benefit of completing the process in an instant.1. As the entire process is online, you can get quick approval.2. Just one simple application form to get auto loans.3. 100% safe process.4. Less paperwork.5. No never-ending lines to the lender’s office.How to Search for Online Auto Loans?It is simple to search for an auto loan when you know the kind of loan you are looking for. For getting an online auto financing program, you must use this simple plan.Prepare a BudgetIt is essential that you calculate your income and expenses. It will help you to understand your affordability. Also, the budget will ensure that you do not overspend your limit.Check your ScoreYou must know your credit ratings before applying for loans. Once you know what kind of credit score you have, you can opt for anything – bad credit auto loans, zero credit car financing or the usual pre-approved automobile loans.General Idea of the CarAre you going to buy a car from your colleague or from a dealership? It will help you in clicking the exact option in the “Type of loan”. If you opt to buy from a private seller, you have to choose, “The Private Party Auto Financing Option”.Opting for a dealership loan means you will have to choose the “New-Used Car Loan Option”.Down Payment and Co-SignerInstant approval on online auto loans is possible with a down payment amount. 10%-20% of the car loan amount can actually turn the tides.Get a co-signer so that you can increase your chances of getting approval. Anyone of your parents or your friend can become your co-signer. Just make sure that the person has a good credit score as well as a stable debt-to-income ratio.Avail Online Auto LoansYou have to just type the required details in your computer. It is essential that you type the kind of loan you want – private party auto loan, new car loan, bad credit car loans, etc. Also, mention your geographical area to ensure that you get the best options.Here are few examples of searching the web for online auto loans:-a. If you have bad credit and live in Colorado Springs, CO 80917, you must type all this information in the search bar, “Bad credit car loans, Colorado Springs, CO 80917″.b. If you live in Prospect, OH 43342 and want a private party car loan, search “Private party auto loans 43342″.c. You can just type for “San Antonio auto loan” if you are looking for a car financing program in San Antonio.d. If you are looking for online students car loans in Vashon, Google “Student auto loans in Vashon, WA 98070″.Once you get across several auto financing companies through the internet, check their reliability. Apply with only those companies that are trustworthy and can offer the online auto loans of your choice.Apply with safe and secure websites and get ready for approval. Online auto financing is as simple as that.So, next time you are in the car financing market; don’t forget to go the online route. It will save loads of time and money too.Best of luck! </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/43/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Online Loans With Bad Credit – Why Getting A Loan With A Peer To Peer Lender May Be A Great Idea</title> <link>https://gimletyms.info/41</link> <comments>https://gimletyms.info/41#comments</comments> <pubDate>Tue, 21 Mar 2023 16:58:11 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=41</guid> <description><![CDATA[Online loans, they’ve become the new fad in lending. Loans have always been popular for many reasons, whether it was for personal, business, auto or mortgage use, loans have always been a way for people who need it to get funding fast. In the past, it was at banks that people generally sought the funding [...]]]></description> <content:encoded><![CDATA[<p> Online loans, they’ve become the new fad in lending. Loans have always been popular for many reasons, whether it was for personal, business, auto or mortgage use, loans have always been a way for people who need it to get funding fast. In the past, it was at banks that people generally sought the funding they needed, but in today’s computer and smart phone age, online loans have become the method of funding of the future.If you have average, fair or poor credit, online loans can still be a great option. While it’s true that a more traditional lender, like a bank or a private financial institution operating online may not approve your loan, there is still another great option out there when you’re searching for funding, peer to peer lending.Peer To Peer Lending As online loans became more and more popular about six or seven years ago, someone came up with a brilliant idea, why not let people invest in others? Why not let people invest in people? This is how peer to peer lending was born. Peer to peer lending sites are websites which offer people the chance to invest in people.If someone needing a loan goes to a peer to peer lending site and lists that loan, once they decide the amount they want, they can list the loan and give a few details about the reason they would like the loan they’re asking for. Whether it’s for business, personal or other use, once they’ve decided on the reason, they can add any details they like, and list their loan for free. Once investors see the loan, they have the option to invest in it or not. The loan is listed anonymously, so the “investors” never really know the name of the person who is getting the loan.Let’s say a person needs a loan for $10,000, if they list it on a peer to peer lending site, some people might invest $25, the minimum for most peer to peer lending sites, and some might invest $1,000. This gives people the option to invest a little or a lot in others and their loans, a great option for having multiple people invest in one particular persons loan.Credit ScoresCredit scores are rated on a scale from AA to F. This works out great because although people with an AA credit score may seem more likely to get a loan, it’s not always the case. See, this is where the amazing idea of peer to peer lending works wonders. Those with a supposedly better credit score are going to have a lower interest, and investors are going to earn less money off of the interest when this particular borrower pays off their loan.For people with credit scores that are in the C, D & F as well as E ranges, the person is going to have a slightly higher interest rate on their online loan. This is an advntage for the investors once that person goes to pay off their loan, as the investors have the potential to earn slightly more money off of a loan with a higher interest rate because the credit score is slightly lower.How does this work out? It gives people with all types of credit scores the opportunity to get great loans anonymously. We’ve compiled a list of benefits to peer to peer lending sites for borrowers, benefits that help offer people a chance to get a great loan online with a lot of time to pay it back.Benefits To Peer To Peer Lending Sites1.) Anonymous BorrowingWhen listing your loan and borrowing money, there are many things you can include. The amount of your loan, the reason for your loan, any details you would like to add such as comments and any reasons why you would be a good borrower. When you actually list your loan, you remain anonymous to borrowers. People don’t know your name, they don’t know anything about you, you’re anonymous to the lenders.2.) The Interest RatesOne of the most important things to talk about is the interest rates. The interest rates from peer to peer lending sites can really be great because their competing with other traditional loan sites, as well as other peer lending sites to get the best interest rates possible from their borrowers. How does this help you? Well of course lower interest rates from the website.3.) A Great Alternative To Many Other OptionsPeer to peer lending sites offer a great alternative to payday loan or installment websites for online loans. Generally these websites tend to charge insanely high interest rates, and with payday loan & installment loan websites you usually have to pay your loan back within a couple months, not the case with peer to peer lending websites as we’ll outline in our next point.4.) Long Time To Payback The LoanOne of the best aspects to peer to peer lending websites is that you have a long time to pay back the loan, generally two to five years. By making monthly payments over a long time, your monthly payments will be much lower than they would be otherwise, say if the payback time was only a couple of months or a year. By having a much longer time to payback the loan, you have a lot more options and of course, very importantly lower payments when paying back the loan.5.) Speed Of Getting A LoanWith many banks as well as other loan sites, it can be a long time until you have your account funded with the loan. This can really put people in a jam because when people need the funds fast, waiting a long time isn’t really the best option. With peer to peer lending sites, online loans are generally funded very fast once they are funded and approved. This is a great aspect to peer to peer lending sites, having the money in your account fast and not having to wait a long time really helps people use the loan for what they want or need. </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/41/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>3 Surefire Ways to Know If You’re Ready to Hire an Online Business Manager</title> <link>https://gimletyms.info/39</link> <comments>https://gimletyms.info/39#comments</comments> <pubDate>Tue, 21 Mar 2023 16:08:35 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=39</guid> <description><![CDATA[Are you a woman entrepreneur who’s frustrated in your 6-7 figure business?Are you feeling overwhelmed, over-stressed, and not sure where to turn?Are you so busy doing everything in your business that you never have time to focus on those high level tasks that will truly bring direct growth to your business?Your business may be ready [...]]]></description> <content:encoded><![CDATA[<p> Are you a woman entrepreneur who’s frustrated in your 6-7 figure business?Are you feeling overwhelmed, over-stressed, and not sure where to turn?Are you so busy doing everything in your business that you never have time to focus on those high level tasks that will truly bring direct growth to your business?Your business may be ready to hire an Online Business Manager (OBM).When your business has grown to multiple 6-7-figures, it will require that you begin to step into a CEO and Visionary role to lead your business to higher levels of growth. The business now has a life of its own and if you stay in the doing role too long, you will lose control of your vision.If you’re like most women business owners, you started your business for some or all of the following reasons:</p><p>You wanted control over your time and the money you make</p><p>You wanted your work to have an impact in the world</p><p>Sick of the 9-5 grind</p><p>Have a business you can schedule around your family and personal goals</p><p>Commit to something bigger than yourself</p><p>Create financial and time freedom</p><p>If you have a multiple 6-7-figure business, it may be time to step out of the tasks of day-to-day operations and management. You’re the only one who can lead your company to the next levels. You alone know how to move your business forward. Time and focus are now in high demand for you to lead your company to the next level.The result of not stepping up will be that the business will begin to stagnate – you’ll hit the ceiling in ability to grow any further. You’ll need to stop trying to do and manage everything on your own because it’s simply not sustainable. You need help in business. At this phase in your business, you have a team that executes tasks.Now the role you’ll want to hire will be an Online Business Manager, an Integrator, who can take your dreams and goals and make them a reality. You need someone who can effectively step in and manage your team, manage your day-to-day operations and marketing management, manage projects, and analyze and report metrics to determine what’s working – and what’s not.If you can’t get out from behind the manager’s desk, frustration will overwhelm you… if it hasn’t already. You’ll struggle with “hitting the ceiling” and “feeling stuck” – if you aren’t already. Your life and relationships will suffer because you’re working a crazy number of hours every day just to keep things going. You cannot keep up this pace, and eventually something will give. You’ll burn out. I’ve seen it countless times.While reading all this article, you may be wondering if it’s time for you to hire an Online Business Manager.Here are three ways to know you’re ready.Financial ReadinessHiring an Online Business Manager is a long-term investment. An OBM does not replace a team of people who are responsible for executing tasks – you can hire any number of virtual assistants for task completion. An Online Business Manager runs your business while you step into the CEO and leadership role.Psychological ReadinessYou’re ready to turn loose a certain amount of control in your business to someone you trust. You know you need help in business, and you don’t want to be the only one in charge anymore. You understand it may be uncomfortable to turn over some control to someone else, but you’re willing to do it because deep down, you know it’s time. And you’re ready to let go of what you don’t truly enjoy to return to using your unique gifts to grow the business.Lifestyle ReadinessYou’re ready to have balance and get your life back. You’re ready to feel a renewed sense of passion for what you do, and you’re looking forward to having the time to create and strategize. As you let loose of the manager’s role, you’ll feel refreshed and energetic, and you’ll step into focusing ONLY on what you can do to grow the business.If you can’t get out from behind the “manager’s desk” in your business it may be time to hire an Online Business Manager. Life’s too short to be frustrated and over-stressed in your business. </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/39/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>A New Domestic Accounting Model based on Domestic Well-Being</title> <link>https://gimletyms.info/37</link> <comments>https://gimletyms.info/37#comments</comments> <pubDate>Tue, 21 Mar 2023 15:05:46 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=37</guid> <description><![CDATA[Summary of Rationale and Technical IntroductionOther articles on Domestic Well-Being Accounting (DWBA) have hinted about the new ideas upon which this new domestic accounting model is based. In this article, the rationale, ideas and concepts are summarised, based on the coverage in a new book ‘Accounting for a Better Life’.AccountsAt its simplest, an account is [...]]]></description> <content:encoded><![CDATA[<p> Summary of Rationale and Technical IntroductionOther articles on Domestic Well-Being Accounting (DWBA) have hinted about the new ideas upon which this new domestic accounting model is based. In this article, the rationale, ideas and concepts are summarised, based on the coverage in a new book ‘Accounting for a Better Life’.AccountsAt its simplest, an account is just a list of transactions relating to some area of financial activity or interest. The most familiar form of account is the bank statement that customers periodically receive from their bank.The first important thing to appreciate is that accounts are for accumulating information about value. We are so used to bank and credit card accounts which are all about currency that people sometimes do not realise that accounts are equally useful for accumulating transaction details relating to, for example, our home, our car(s) – one account for each car – our investments, etc.Accounts will usually have two columns, one for increasing (+) amounts and the other for decreasing (-) amounts.The next important concept is to appreciate that there are two distinct, overarching types of accounts that we can use in our sets or books of accounts. One is called an asset account and the other is a liability account.The asset type account as its name infers, typically relates to storing transactions for assets such as bank accounts, houses, cars, etc. The idea behind this is that positive amounts entered into the + column of an asset account signify increasing value; so £500 entered into the + column of an asset account implies an increase in value of £500. However accountants will also have in their business accounts, what I call working accounts for home accounting, as other accounts of the asset type which are not strictly for an asset such as a car or home. Examples include accounts for asset acquisitions and for depreciation.That other overall type of account is a liability account. It is used for accumulating debts and/or liability. Now we have the reverse concept in that increasing amounts e.g. £300 in the + column of these types of accounts imply more debt or more liability, whilst a decrease of £200 represents less of a debt. You might think more debt means less value but it all depends on the purpose for which a liability account is being used. Again, accountants mostly use liability type accounts for holding true debt amounts but again, have a need for other accounts of the liability type to mediate certain transactions. I refer to these as working accounts in home accounting as they do not relate to any true debts of a person or household; examples of these are for accumulating temporary information about asset acquisitions and growth in the value of a home.Another area for confusion here relates to the names for column headings used in the different software packages available to support accounting; in business, the convention is that debits (the + column for asset accounts and the – column for liability accounts) are traditionally in the left-hand column of each account, with the credits on the right (the – column of asset accounts and the + column of liability accounts). This convention is not always adhered to in some software packages, together with not always using the headings, debit and credit.Double Entry and the Accounting EquationThe last bit of theory to mention which lies at the heart of DWBA accounting is so-called, double entry. This concept appears confusing to people because it has two aspects. First, it is an accounting concept which relates to an approach for taking into account (there’s an appropriate phrase!) all the financial aspects of some financial entity. In business, an entity might be a department or a division, a sole-trader or even a whole plc. For domestic accounting, such an entity would most often be an individual or a household. The point is that the accounts supporting any of these entities consider or model the totality of the financial aspects of the entity. As such, the accounts will be able to capture and make visible both the static and dynamic aspects of the entity finances. The practical effect is that a set of double entry accounts (the books) requires an account to store the total financial value of the entity as well as usually, some accounts for accumulating periodic changes in terms of increases and decreases to this overall value. The result is what is termed a balanced set of accounts, related to an accounting equation.The other common use of the word double entry is related to the bookkeeping techniques for implementing this form of accounting which requires two (double) entries in the accounts for each new transaction, in order to maintain the required balance.What do we mean by balance? Well balance is the key to double entry and it comes from balances in accounts, as maybe related in some way in this equation; the so called accounting equation.If we consider a household, it might consist of a collection of assets – a home, a car, three investments and a consolidated bunch of unspecified appliances. We could set up 6 accounts to represent all these assets and assuming there were no liabilities of the personal debt sort – an unlikely assumption – we could say that our domestic wealth equals the sum of the balances of those 6 asset accounts. Here is a statement, which is not yet a true equation:The sum of all Asset a/c balances = our Domestic WealthNow if we had some debts, perhaps a mortgage on the house and a loan for the car, we could set up two more accounts (of the liability type) to hold these two debt amounts.Since we owe two amounts for these debts to some financial organisations, we have to earmark the appropriate amounts to be repaid from the value of our assets, in order to derive the changed new value of our domestic wealth, so we can show this in another statement:All Asset a/c balances – All Liability a/c balances (of the debt type) = our Domestic WealthThe crucial point about the double entry system is that we need to setup an additional account in order to store the amount of our changing domestic worth. I call it a Domestic Wealth account.Now, instead of a statement, we have an equation which is balanced:All Asset a/c bals – All Liability a/c bals (of the debt type) = Domestic Wealth a/c balThe next issue is what type of account do we need to hold the domestic wealth – asset or liability?When you think about it, the amount of the domestic wealth represented by the assets less the debts is owed to the eventual beneficiaries of the household or individual’s estate. It should therefore logically, reside in a liability account.Now we can tidy the equation up by putting all the asset type accounts on one side with all the liability type accounts on the other; the result is with appropriate changes to the signs:All Asset a/c balances = All liability (debt) balances + the Liability (DW) a/c balanceLet’s imagine a situation where an individual starts up with £20,000 in a bank. For that individual to establish a double entry accounting system, we need an asset account for the bank account and since there are no debts, just a domestic wealth account; a double entry is required for the initial transaction, with £20,000 debited to the asset account for the bank and the same amount credited to the liability account for domestic wealth. In the accounting equation, we can see the result as:Asset a/c bals £20,000 = All liability (debt) bals 0 + Liability (DW) a/c bal £20,000Let’s see how we handle buying a car with a loan of £2,000. By breaking it down into steps, we first consider receiving a loan – so receive (debit) bank with £2,000 and setup a new liability type account for the loan company and credit it with the same £2,000 – with this effect in the equation:Asset a/c bals £22,000 = All liability (debt) bals £2,000 + Liability (DW) a/c bal £20,000Still balanced at £22,000 on each side!Now we buy the car for £7,000 using the £2,000 from the loan and the extra £5,000 from the bank assets. We also need to setup a car account to receive the value of the purchased car. The end result from the equation perspective is still a balanced equation:Asset a/c bals £22,000 = All liability (debt) bals £2,000 + Liability (DW) a/c bal £20,000The asset a/cs are now made up of Bank (£22,000 – £7,000) and car a/c £7,000 with no change in overall value on the asset side but a distribution in values across the asset accounts.Another thought about double entry is that any single entry made to a balanced equation (set of balanced accounts) must unbalance it! The only way to retain balance is, from the maths perspective, if we add something to an account on one side then we must add the same amount to an account on the other side; or if we add something to an account on one side we must reduce by the same amount, in an account somewhere else on the same side. This in effect, if you work it out, is what the accounting rule says in that a debit posting must be balanced with a credit posting.As we buy food, drink and clothing, pay utility bills and purchase holidays, we will see reductions or credit in our asset account for bank or, if we pay by credit card, equivalent credit entries to increase our debts in the liability type account for each credit card. These are termed expenses and will lead to an equivalent decrease in our domestic wealth. It should be obvious that if we post credits as the first part of each expense transaction, we will need corresponding debit entries to balance them. Increasing debits imply an asset type account so that will be the sort of account that we need for these increases. By the same logic, income such as salary or pension will be first entered as increases or debit entries in our bank account and must be balanced by credit entries in a new account for domestic increases – increases that are credit entries occur in liability type accounts so this is the sort of new account we need to setup for accumulating changes for increases to domestic wealth.Non Double Entry AccountingTraditionally, accounting for personal and home use has not made use of the principles of double entry; and the software packages that support home accounting are not usually geared up to properly support it. The reason is partly because when people ventured into home accounting, they tended to start with activities such as reconciliation of checking accounts and simple budgeting. For this, they tended to only require setting up accounts for one or two areas, mainly related to bank accounts. With this, as useful as it is, there is no concept of seeing the total picture, with the static and dynamic views of the financial state of affairs.Business versus Domestic AccountingWhen I first decided to start ‘doing’ my own home accounts many years ago, I believed that since business accounting had evolved over such a long time to be able to so successfully satisfy business managers’ needs to manage business finances (and there was a legal requirement for them to do so) there must be something special in business accounting that I could look for, to be able to help people better manage their personal and home finances. As described elsewhere, I discovered that business accounting methods themselves were of little help because of the wrong focus (profits for capital gain) and that the actual accounts, reports and associated business ratios were also, understandably, entirely inappropriate.In thinking about alternatives, I realised there were some features that could be extracted from business and with modification, be used effectively to help manage home finances.ReportsWith the double entry system we can obtain a static view or ‘snapshot’ of the state of the finances of a business and this is called a Balance Sheet. This shows the assets, liabilities and capital value on any particular day.Most of the entries in the business Balance Sheet come from balances in the accounts which can be easily extracted from a Trial Balance which is simply a list of all the balances for all the accounts in our books.The structure and contents of the Domestic Balance Sheet (DBS) highlight the major components of the domestic assets and liabilities in order to derive the new value of Domestic Wealth. Rather like the net profits being brought into a business balance sheet, the domestic version shows the Total Domestic Change (TDC) as the contribution to Domestic Wealth over the past period.Now, the important issue is what does the TDC consist of? We probably know that the business equivalent of profit or loss is exposed in the two accounts – the Trading account and Profit & Loss account. These two accounts highlight the dynamics of the financial situation; the changes over some period.For business, the focus is on profits and so these accounts concentrates first, on the higher level aspects of the business with opening stock, the purchases made to augment this stock and the closing stock value.The next account called the Profit & Loss account shows the impact of other increases and decreases which usually reduce the gross profit to some lower value, called the net profit.The individual accounts required by business have no place in home finances as we are not primarily interested in profit.The new Focus – Domestic Well-BeingWhat should the financial focus be for a home finances? Well I gave much thought to this and over some years and developed a new focus with an associated approach and methods, based on what I eventually termed, Domestic Well-Being.In short, yes, homesteaders do want to increase their worth or value, but not usually for ‘profits sake’. People want to increase their wealth to pay for things that tend to occur in a progression throughout a lifetime; like better homes, education perhaps, hobbies, luxuries and provision for those retirement and eventually, declining years when income is drastically reduced.In general, home finances in the earlier years of a lifetime are such that there is never enough to go round. Everything is a question of priorities and balance. What should be the best distribution of our expenditure to ensure that we can obtain the best possible balance or compromise, with the income at our disposal?My solution was to come up with a structure that best presented the major areas of domestic finances about which decisions could be made on how best to allocate funds – those alternatives and their prioritisation. So I needed a way that could be used to classify increases and decreases as and when they occurred, as well as for presenting the figures in an appropriate way after they had been accumulated. This presentation had to support the decision making that would be needed to best optimise future spending. It had to be done in a way that could achieve this best balance across the competing priorities so as to maximise Domestic Well-Being. It was therefore DWB that became the new focus for domestic accounting; and it could be identified in terms of a structure for both bookkeeping – capturing the transactions; and accounting – reporting, analysing and the subsequent decision making for future financial activity, implemented perhaps through budgeting.The Domestic Well-Being StatementThe Domestic Well-Being Statement (DWBS) is the domestic version of the Trading account and the Profit & Loss account and is used to present the derivation of the Total Domestic Change (TDC) over some period. It represents the second of my adopted features from business accounting.This report simply shows the structure for DWB and is obtained in Microsoft Money with one click to run a pre-stored report. The edited version combines the details for the current and previous years to assist with comparisons.In summary, the report shows the three top-level Categories of the structure as the Basics, Discretionary and Others groups of transactions, each divided into Increases and Decreases. These categories might be considered as similar to business accounting nominal codes.Within these groups there are successively lower level groups of sub and sub-sub categories. For example, the Basics included Essentials, Responsibilities and Family, each with further sub-categories below.The Discretionary group, where obviously there is some amount of discretion or choice as to whether decreases and increases occur in its component sub-categories, includes Nice-to-Have, Investment for the Future (IFF) and Luxuries.What amazed me when it was first developed was the fantastic visibility it provided on the home finances, especially showing the distribution and makeup of the many expense items.Financial RatiosThe third feature that I adopted from business accounting is the use made of financial ratios.You will appreciate that a ratio is simply a comparison of two figures expressed as a quotient, usually in decimal or percentage format. In business over time, certain key quantities and their comparison in the form of ratios have taken prominence as a key to both information dissemination (for shareholders, investors, management boards, auditors etc.) and to various levels of management as a basis for control. Those two components of a ratio, the numerator and denominator, can both be considered as candidates for achieving change.Over 30 business ratios slim down to few that most people have heard of, such as the different forms of margins and the ratios associated with profitability and liquidity; and of course virtually none of them relate to home finances!From my experience, I knew that the figures I had exposed for domestic finances must have some potential for assisting in the management and control of home finances. The issue was which figures and in particular, which groupings of pairs of figures as ratios might be informative.The Stages of Domestic, Financial LifeMy other experience was with life; now 68, I realised looking back on my lifetime of interest in home finances, I could distinguish six fairly distinct stages of financial life. By this, I mean that there was a significant enough change in some aspect of personal finances across the stages that might warrant some form of indicator or measurement being useful. For your interest, I call these stages:Early AdulthoodEarly MaturityMiddle LifeRetirementDeclining YearsI have defined five primary factors and a number of secondary factors for domestic finances, changes in which I believe, have a correlation with those stages of financial life and could be useful as a basis for comparison and more detailed analysis.The Domestic Financial FactorsBriefly, the more important ratios over some period are (where the abbreviations relate to figures in the DWBS):Basic Cost of Living Factor (BDD/THI) – a measure of the amount spent on basic necessities, out of total household increase.Well-Being Contribution Factor (DDD/THI) – a measure of the amount spent on discretionary extras, out of total household increase.Future Affordability Factor (IFF/TDI) – a measure of financial commitment to future well-being, out of total domestic increase.Feel Good Factor (IFF/DDD) – a measure of how much went on future well-being, out of total discretionary decrease.Domestic Wealth Factor (TDC/ODW) – for positive TDC the domplus, or for negative TDC the domicit, contributing to growing or diminishing domestic wealth respectively, as a proportion of old domestic wealth. This is the nearest comparison to business profit or loss.To start with, lacking any reservoir of accumulated figures, the value of these ratios or factors as I call them for home use, will only be of use internally in a household over time, as a means of measuring and looking for changes. With a base of figures, then there would be the possibility of comparison with others and the similarity to business norms.Value for these five factors give ‘shape’ to a financial situation and if displayed in the format of a star or radar diagram, could also offer useful indicators that could help to predict problem areas or states of stability or instability about a set of finances.With an accumulation of values for the domestic factors, either by simulation or by capture after creation by individual home owners, it would become feasible to create and provide further useful charts. With such information, the home owner would be able to determine if the individual figures from the accounts appeared to lie within the expected domestic norms.Other GraphicsA picture speaks a thousand words. This is no truer than when considering displays of financial information. Such graphical charts are the fourth set of business features of the sort of products that can easily be created with general purpose accounting software packages such as MS Money, especially if double entry accounting is used.Financial ControlFor home finances, control is both feasible and realisable and is only limited by the extent to which homesteaders wish to go. It all comes back to a need for a sense of responsibility.The analysis should first look at distribution and balance. Are the proportions being spent on the Basics a fair amount compared to the total increases?The information obtained from your end-year results should reveal some fundamental facts. Have you been able to afford anything over and above the basics? If yes, did the amounts enable a reasonable allocation to discretionary decreases; and what about luxuries?Your accounts and this new set of accounting methods will give you the data and information to enable you to pick up warnings.What sort of warnings might you want? In today’s climate of a financial debt crisis, probably the most important warning you would look for is one relating to the likelihood of such a pending crisis for you. You would want to know if your decreases are getting too close to your increases, or even exceeding them. You would want to know if your reserves are being depleted, possibly on funding that excess of decreases over increases. You should be looking to see the amount of short-term and long-term liabilities you have; and how their proportions compare to the total value of assets. You would want to know about your liquidity; how well you are able to realise funds in the short term to meet your known commitments. You obviously do not want to sell your house or car just to pay the bills.On a less dramatic but more important note, you need to know about the proportion of contributions being made to future well-being; and if positive, does the amount being put aside represent a reasonable proportion of your increases?Conclusion from Adapting Business Accounting ConceptsIn order to implement the features I have extracted from business accounting, I needed to be able to use the concepts of double entry.SimplificationIn undertaking home accounting with double entry, the main difficulties related to knowing where I was in relation to individual accounts and the entering of transactions. By this, I mean that when looking at a single account register on the computer screen, it never appeared obvious to me what sort of account I was looking at and into which column of the account, the next posting should be made.Over time, I realised that the key to understanding the answers to this dilemma lay with the accounting equation. I needed a way to always be able to associate any account with its place in the accounting equation – asset or liability – and to which account it should be associated in order to achieve double entry balance.Like many amateur accountants I often had problems with reconciling the concept of debts in accounts for mortgages and loans, with a so-called liability related to an amount in a capital or domestic wealth account. To me, domestic wealth was a ‘good’ liability – more was better – whilst the mortgage and loans were ‘bad’ liabilities or debts that had to be repaid; and more was not better, but worse! I resolved this by considering all the accounts that were associated with domestic liability as quasi-liabilities – good liabilities; the amounts or the balances of liability held in these accounts, I considered as ‘good’ liabilities. They were given the letter Q in the appropriate prefixes.There are a total of four accounts that fell into this quasi group which consisted of the Domestic Wealth account (LQ DW), the Domestic Changes account (LQ DC), the Categorised Increases account (LQ Cat Inc) and the Categorised Decreases account (AQ Cat Dec).The majority of the changes to domestic wealth over any period come from the decreases associated with expenses such as food, drink, clothes, utilities, holidays etc – virtually all of the Basics and Discretionary decreases. These also end up in the LQ DW account via the LQ DC account but because of the way I handle most of the double entry postings, they arrive via those two quasi accounts for Categorised Increases and Decreases.ImplementationI initially chose one of the earliest versions of a generalised accounting software packages called MS Money. Being generalised, it provided the capability to create accounts as needed, with any name you chose.It also had good integrated query and reporting capabilities, together with the concepts of payees, categorisation tags and support for budgets as well as for stocks and shares.In thinking about the implementation of double entry, MS Money was not designed primarily for double entry. If it was, it would have some journal-like arrangement similar to dedicated double entry accounting software, whereby each transaction is associated in some way with the two accounts involved in the double entry. Then, via a key-click or later batch updating, the two individual postings would be made to the appropriate two accounts.This does not mean to say however that this software package cannot be used for double entry postings. All it requires is that after adding the necessary extra accounts, that two entries are posted for each transaction entered.One form of categorisation available in MS Money is its Income and Expense tags. Money comes pre-loaded with tags associated with home finances so that for example, with a simple account (non-double entry system) for reconciliation with bank statements, each transaction could be associated with an appropriate tag, such as wages, food, etc.Income and Expense are the terms used in MS Money to relate to the accounting terms of debit and credit; Perhaps trying to be helpful to home accountants, MS Money has differing column headings for the increases and decreases across all the various types of accounts that can be created.In trying to find a way to implement the tagging I needed to associate transactions with the DWB structure, as well as achieve double entry to support the concepts of static and dynamic reporting, I came up with a method that achieved both; without the need to enter transactions with hundreds of double postings.The 1st halves of the appropriately, categorised double entries accumulate in the accounts where they were entered, mostly bank or credit accounts but that is unimportant. At the end-of-period by running a single report, the sum of the amounts of the 1st half entries can be easily exposed, contributing separately to increases and decreases to domestic change. By then entering just two more postings, one for the total of the 1st half increases and another for the total of the 1st half decreases, balance is re-established.Summary of the ApproachThe main features that I have adopted from business accounting are the ability to create balance sheets for static views, to capture the financial changes over a period for the dynamic aspect, to define ratios/factors as a comparison of useful and significant figures from the balance sheet and the changes, as well as the use of graphical reports to enhance visibility and meaning.As a thought about setting up your own DWB accounting, my book describes the background and theory, together with the details and prototypes for accounts, categories, reports and graphics on a bonus CD, for implementing the accounts on MS Money.Regarding implementation on dedicated double entry accounting software packages, I have not yet discovered any that are sufficiently general-purpose to enable the creation of accounts of your own choosing, together with your own details of categorisation.As a final thought on simplification, life in the accounting world can be made much easier for domestic accountants, if the terminology is simplified as much as possible. It will be important not to remove too much of the distinction between some of the technical words but I have found that I have made life much easier for myself, by simplifying, wherever possible.An understanding of one idea – double entry – and the following, six key words, will get you through with flying colours: asset, liability, debit, income, credit and expense; and my version of the domestic accounting equation, account prefixes and a couple of ‘memory joggers’, will tie all these features together.Also, take a look at the author’s website on Domestic Well-Being Accounting, together with sample products and a growing list of tutorials at www.dwba.co.uk; the full rationale and technical introduction with supporting charts and graphics is at:http://www.dwba.co.uk/pages/DWBA_Technical_Introduction.htm </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/37/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Home Inspections – A Question and Answer Guide</title> <link>https://gimletyms.info/35</link> <comments>https://gimletyms.info/35#comments</comments> <pubDate>Tue, 21 Mar 2023 13:04:15 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=35</guid> <description><![CDATA[A home inspection is an evaluation of the visible and accessible systems and components of a home (plumbing, heating and cooling, electrical, structure, roof, etc.) and is intended to give the client (buyer, seller, or homeowner) a better understanding of the home’s general condition. Most often it is a buyer who requests an inspection of [...]]]></description> <content:encoded><![CDATA[<p> A home inspection is an evaluation of the visible and accessible systems and components of a home (plumbing, heating and cooling, electrical, structure, roof, etc.) and is intended to give the client (buyer, seller, or homeowner) a better understanding of the home’s general condition. Most often it is a buyer who requests an inspection of the home he or she is serious about purchasing. A home inspection delivers data so that decisions about the purchase can be confirmed or questioned, and can uncover serious and/or expensive to repair defects that the seller/owner may not be aware of. It is not an appraisal of the property’s value; nor does it address the cost of repairs. It does not guarantee that the home complies with local building codes or protect a client in the event an item inspected fails in the future. [Note: Warranties can be purchased to cover many items.] A home inspection should not be considered a “technically exhaustive” evaluation, but rather an evaluation of the property on the day it is inspected, taking into consideration normal wear and tear for the home’s age and location. A home inspection can also include, for extra fees, Radon gas testing, water testing, energy audits, pest inspections, pool inspections, and several other specific items that may be indigenous to the region of the country where the inspection takes place. Home inspections are also used (less often) by a seller before listing the property to see if there are any hidden problems that they are unaware of, and also by homeowners simply wishing to care for their homes, prevent surprises, and keep the home investment value as high as possible.The important results to pay attention to in a home inspection are:1. Major defects, such as large differential cracks in the foundation; structure out of level or plumb; decks not installed or supported properly, etc. These are items that are expensive to fix, which we classify as items requiring more than 2% of the purchase price to repair.2. Things that could lead to major defects – a roof flashing leak that could get bigger, damaged downspouts that could cause backup and water intrusion, or a support beam that was not tied in to the structure properly.3. Safety hazards, such as an exposed electrical wiring, lack of GFCI (Ground Fault Circuit Interrupters) in kitchens and bathrooms, lack of safety railing on decks more than 30 inches off the ground, etc.Your inspector will advise you about what to do about these problems. He/she may recommend evaluation – and on serious issues most certainly will – by licensed or certified professionals who are specialists in the defect areas. For example, your inspector will recommend you call a licensed building engineer if they find sections of the home that are out of alignment, as this could indicate a serious structural deficiency.Home Inspections are only done by a buyer after they sign a contract, right?This is not true! As you will see when you read on, a home inspection can be used for interim inspections in new construction, as a maintenance tool by a current homeowner, a proactive technique by sellers to make their home more sellable, and by buyers wanting to determine the condition of the potential home.Sellers, in particular, can benefit from getting a home inspection before listing the home. Here are just a few of the advantages for the seller:· The seller knows the home! The home inspector will be able to get answers to his/her questions on the history of any problems they find.· A home inspection will help the seller be more objective when it comes to setting a fair price on the home.· The seller can take the report and make it into a marketing piece for the home.· The seller will be alerted to any safety issues found in the home before they open it up for open house tours.· The seller can make repairs leisurely instead being in a rush after the contract is signed.Why should I get a home inspection?Your new home has dozens of systems and over 10,000 parts – from heating and cooling to ventilation and appliances. When these systems and appliances work together, you experience comfort, energy savings, and durability. Weak links in the system, however, can produce assorted problems leading to a loss in value and shortened component life. Would you buy a used car without a qualified mechanic looking at it? Your home is far more complicated, and to have a thorough inspection that is documented in a report arms you with substantial information on which to make decisions.Why can’t I do the inspection myself?Most homebuyers lack the knowledge, skill, and objectivity needed to inspect a home themselves. By using the services of a professional home inspector, they gain a better understanding of the condition of the property; especially whether any items do not “function as intended” or “adversely affect the habitability of the dwelling” or “warrant further investigation” by a specialist. Remember that the home inspector is a generalist and is broadly trained in every home system.Why can’t I ask a family member who is handy or who is a contractor to inspect my new home?Although your nephew or aunt may be very skilled, he or she is not trained or experienced in professional home inspections and usually lacks the specialized test equipment and knowledge required for an inspection. Home inspection training and expertise represent a distinct, licensed profession that employs rigorous standards of practice. Most contractors and other trade professionals hire a professional home inspector to inspect their own homes when they themselves purchase a home!What does a home inspection cost?This is often the first question asked but the answer tells the least about the quality of the inspection. Fees are based according to size, age and various other aspects of the home. Inspection fees from a certified professional home inspector generally start under $300. An average price for a 2,000 square foot home nationally is about $350-$375. What you should pay attention to is not the fee, but the qualifications of your inspector. Are they nationally certified (passed the NHIE exam)? Are they state certified if required?How long does the inspection take?This depends upon the size and condition of the home. You can usually figure 1.2 hours for every 1,000 square feet. For example, a 2,500 square foot house would take about 3 hours. If the company also produces the report at your home, that will take an additional 30-50 minutes.Do all homes require a home inspection?Yes and No. Although not required by law in most states, we feel that any buyer not getting a home inspection is doing themselves a great disservice. They may find themselves with costly and unpleasant surprises after moving into the home and suffer financial headaches that could easily have been avoided.Should I be at the inspection?It’s a great idea for you be present during the inspection – whether you are buyer, seller, or homeowner. With you there, the inspector can show you any defects and explain their importance as well as point out maintenance features that will be helpful in the future. If you can’t be there, it is not a problem since the report you receive will be very detailed. If you are not present, then you should be sure to ask your inspector to explain anything that is not clear in the report. Also read the inspection agreement carefully so you understand what is covered and what is not covered in the inspection. If there is a problem with the inspection or the report, you should raise the issues quickly by calling the inspector, usually within 24 hours. If you want the inspector to return after the inspection to show you things, this can be arranged and is a good idea, however, you will be paying for the inspector’s time on a walkthrough since this was not included in the original service.Should the seller attend the home inspection that has been ordered by the buyer?The seller will be welcome at the inspection (it is still their home) although they should understand that the inspector is working for the buyer. The conversation that the inspector has with the buyer may be upsetting to the seller if the seller was unaware of the items being pointed out, or the seller may be overly emotional about any flaws. This is a reason why the seller might want to consider getting their own inspection before listing the home.Can a house fail a home inspection?No. A home inspection is an examination of the current condition of your prospective home. It is not an appraisal, which determines market value, or a municipal inspection, which verifies local code compliance. A home inspector, therefore, cannot not pass or fail a house. The inspector will objectively describe the home’s physical condition and indicate which items are in need of repair or replacement.What is included in the inspection?The following list is not exhaustive. Not all of these may be in the inspection you get, but the inspector will be following a standardized checklist for the home:· Site drainage and grading· Driveway· Entry Steps, handrails· Decks· Masonry· Landscape (as it relates to the home)· Retaining walls· Roofing, flashings, chimneys, and attic· Eaves, soffits, and fascias· Walls, doors, windows, patios, walkways· Foundation, basement, and crawlspaces· Garage, garage walls, floor, and door operation· Kitchen appliances (dishwasher, range/oven/cooktop/hoods, microwave, disposal, trash compactor)· Laundry appliances (washer and dryer)· Ceilings, walls, floors· Kitchen counters, floors, and cabinets· Windows and window gaskets· Interior doors and hardware· Plumbing systems and fixtures· Electrical system, panels, entrance conductors· Electrical grounding, GFCI, outlets· Smoke (fire) detectors· Ventilation systems and Insulation· Heating equipment and controls· Ducts and distribution systems· Fireplaces· Air Conditioning and controls· Heat Pumps and controls· Safety items such as means of egress, TPRV valves, railings, etc.Other items that are not a part of the standard inspection can be added for an additional fee:· Radon Gas Test· Water Quality Test· Termite Inspection (usually performed by a separate company)· Gas Line Leak Test (usually performed by the gas company)· Sprinkler System Test· Swimming Pool and Spa Inspection· Mold Screening (sometimes performed by a separate company)· Septic System Inspection (usually performed by a separate company)· Alarm System (usually performed by a separate company)We recommend getting a Radon Test if your prospective home falls into an area of the country with known Radon seepage, since Radon gas produces cancer second only to cigarette smoking and can be easily mitigated by installing a vent system. We also recommend a water test to make sure you do not have bacteria in the water supply. Water can also be tested for Radon.What is not included in the inspection?Most people assume that everything is inspected in depth on inspection day. This misunderstanding has caused many a homebuyer to be upset with their inspector. The inspections we do are not exhaustive and there is a good reason for this. If you hired someone with licenses for heating and cooling, electrical, plumbing, engineering, etc. to inspect your house, it would take about 14 hours and cost you about $2000! It is much more practical to hire a professional inspector who has generalist knowledge of home systems, knows what to look for, and can recommend further inspection by a specialist if needed. Your inspector is also following very specific guidelines as he/she inspects your home. These are either national guidelines (ASHI – American Society of Home Inspectors, InterNACHI – International Association of Certified Home Inspectors) or state guidelines. These guidelines are carefully written to protect both your home and the inspector. Here are some examples: We are directed to not turn systems on if they were off at the time of the inspection (safety reasons); we are not allowed to move furniture (might harm something); not allowed to turn on water if it is off (possible flooding), and not allowed to break through a sealed attic hatch (possible damage). The downside of this practice is that by not operating a control, by not seeing under the furniture, and not getting into the attic or crawlspace, we will might miss identifying a problem. However, put into perspective, the chances of missing something serious because of this is quite low, and the guideline as it relates to safety and not harming anything in the home is a good one. There are other items that 95% of inspectors consider outside a normal inspection, and these include inspecting most things that are not bolted down (installed in the home) such as electronics, low voltage lighting, space heaters, portable air conditioners, or specialized systems such as water purifiers, alarm systems, etc.What if there are things you can’t inspect (like snow on the roof)?It just so happens that some days the weather elements interfere with a full home inspection! There isn’t much we can do about this either. If there is snow on the roof we will tell you we were unable to inspect it. Of course we will be looking at the eves and the attic, and any other areas where we can get an idea of condition, but we will write in the report that we could not inspect the roof. It is impractical for us to return another day once the snow melts, because we have full schedules. However, you can usually pay an inspector a small fee to return and inspect the one or two items they were unable to inspect when they were there the first time. This is just the way things go. If you ask the inspector for a re-inspection, they will usually inspect the items then at no extra charge (beyond the re-inspection fee).Will the inspector walk on the roof?The inspector will walk on the roof if it is safe, accessible, and strong enough so that there is no damage done to it by walking on it. Some roofs – such as slate and tile, should not be walked on. Sometimes because of poor weather conditions, extremely steep roofs, or very high roofs, the inspector will not be able to walk the roof. The inspector will try to get up to the edge though, and will also use binoculars where accessibility is a problem. They will also examine the roof from the upper windows if that is possible. There is a lot the inspector can determine from a visual examination from a ladder and from the ground, and they will be able to tell a lot more from inside the attic about the condition of the roof as well.Should I have my house tested for Radon? What exactly is Radon?In many areas of the country, the answer is a definite yes. You can ask your real estate agent about this or go on to the internet for a radon map of the country. Radon is a colorless, odorless, tasteless radioactive gas that’s formed during the natural breakdown of uranium in soil, rock, and water. Radon exits the ground and can seep into your home through cracks and holes in the foundation. Radon gas can also contaminate well water.Health officials have determined that radon gas is a serious carcinogen that can cause lung cancer, second only to cigarette smoking. The only way to find out if your house contains radon gas is to perform a radon measurement test, which your home inspector can do. Make sure the person conducting your test has been trained to The National Environmental Health Association (NEHA) or The National Radon Safety Board (NRSB) standards.What about a newly constructed home? Does it need a home inspection?Yes! In fact, we find far more problems, some quite serious, in newly constructed homes than in homes that have been lived in for years. This is not due to your builder’s negligence – he/she has done the best job they could with subcontractors and planning – it’s just that there are so many systems in a home, that it is close to impossible to inspect everything, and correct it before the Certificate of Occupancy is issued. Then, for some reason, the subcontractors no longer want to work on the home, and final jobs and details are missed. We recommend getting several professional home inspections near the completion stages of the home to discover everything that should be corrected. If the house is still new but sitting for a while before sale, it’s even more important to get a home inspection. We have seen water lines not hooked up, plumbing lines not hooked up, sewer lines not hooked up, vents not hooked up, and a variety of other serious but easily correctable problems!I am having a home built. The builder assures me he will inspect everything. Should I have an independent inspector make periodic inspections?Absolutely yes! No matter how good your builder is, he/she WILL miss things. They are so concerned with the house, they get so close to their work, as do the subcontractors, that important items can, and will be, overlooked. Have a professional inspector make at least 4-6 interim inspections. They will be worth their weight in gold.What is the Pre-Inspection Agreement?Most service professionals have a service agreement, and home inspection is no different. In fact, there is enough confusion about what a home inspection should deliver that the agreement is even more important. Some homeowners who get a home inspection expect everything in the home to be perfect after the repairs. This is not the case! Imagine getting a call from a homeowner a year later who says the toilet is not flushing – remember that the inspection is a moment in time snapshot. In the inspection agreement the inspector is clear about what the inspection delivers and the things that are not covered, as well as what you should do if you are not pleased with the services. We really think that by reviewing this before-hand you will understand much more about the inspection and be happier with the results. A home inspection does not guard against future problems, nor does it guarantee that all problems will be found.What kind of report will I get following the inspection?There are as many versions of a “report” as there are inspection companies. Guidelines dictate that the inspector deliver a written report to the client. This can range from a handwritten checklist that has multiple press copies without pictures and 4 pages long to a computer generated professionally produced report with digital pictures that is 35 pages long and can be converted to Adobe PDF for storage and emailing. Be sure to check with your inspector about the report he or she uses. We recommend the computer generated report, since the checklist is more detailed and easier for the homeowner/buyer/seller to detail out the issues with photographs. In this modern age, we feel the reports must be web accessible and e-mailable to match the technologies most of us are using.There are some great things you can use the report for in addition to the wealth of information it simply gives you on your new home:· Use the report as a checklist and guide for the contractor to make repairs and improvements or get estimates and quotes from more than one contractor.· Use the report as a budgeting tool using the inspector’s recommendations and the remaining expected life of components to keep the property in top shape.· If you are a seller, use the report to make repairs and improvements, raising the value of the home and impressing the buyers. Then have a re-inspection and use this second report as a marketing tool for prospective buyers.· Use the report as a “punch list” on a re-inspection and as a baseline for ongoing maintenance.Will the report be emailable or available as an Adobe PDF file?Yes. As discussed in the last question, you will probably want your inspector to be using the latest reporting technology.What if I think the inspector missed something?Inspectors are human, and yes, they do miss items. However, they routinely use advanced tools and techniques to reduce the possibility that they will miss something. This includes very detailed checklists, reference manuals, computer based lists, and a methodical always-done-the-same-way of physically moving around your home. That is one of the reasons that an inspector can miss an item when they get interrupted. The inspector will have a set way of resuming the inspection if this happens. If, in the end, something IS missed, call the inspector and discuss it. It may warrant the inspector returning to view something that you found. Remember, the inspector is doing the very best job they know how to do, and probably did not miss the item because they were lax in their technique or did not care.What if the inspector tells me I should have a professional engineer or a licensed plumber or other professional contractor in to look at something they found? Isn’t this “passing the buck”?You may be disappointed that further investigation is required, but, believe us, your inspector is doing exactly what they should be doing. The purpose of the inspection is to discover defects that affect your safety and the functioning of the home; the inspector is a generalist, not a specialist. Our code of ethics as well as national and state guidelines dictate that only contractors that are licensed in their specialty field should work on these systems and areas. When they tell you that a specialist is needed, there may be a bigger, more critical issue that you need to know about. If you move into the home without getting these areas checked by a qualified specialist, you could be in for some nasty and expensive surprises. The inspector does not want to cause you any more expense or worry either, so when they do recommend further evaluation they are being serious about protecting you and your investment.Will the inspector provide a warranty on the inspected items?Most inspectors do not give the homeowner a warranty on inspected items. Remember, a home inspection is a visual examination on a certain day, and the inspector cannot predict what issues could arise over time after the inspection. However, some inspectors are now including a warranty from the largest home warranty company in America – American Home Warranty Corporation, as well as others, on the inspected items for 60 or 90 days. This is a very good deal, and the agreement can be extended after the initial period for a relatively small amount of money.Do most inspection companies offer money back guarantees?Most inspection companies do not offer a satisfaction guarantee nor do they mention it in their advertising. It’s always a good thing if you can get extra services for no additional cost from your inspection company, and of course a satisfaction guarantee is an indication of superior customer service. You usually have to call your inspection company right after the inspection and viewing of the report to tell them you are not satisfied. If you are not happy with the services, you should talk to your inspector first and let him/her correct the issue(s) you are unhappy with first, as the inspector is trying to make an honest living just like the rest of us, and is not failing you on purpose.What if my report comes back with nothing really defective in the home? Should I ask for my money back?No, don’t ask for your money back – you just received great news! Now you can complete your home purchase with peace of mind about the condition of the property and all its equipment and systems. You will have valuable information about your new home from the inspector’s report, and will want to keep that information for future reference. Most importantly, you can feel assured that you are making a well-informed purchase decision.What if the inspection reveals serious defects?If the inspection reveals serious defects in the home (we define a serious defect as something that will cost more than 2% of the purchase price to fix) then pat yourself on the back for getting an inspection. You just saved yourself a ton of money. Of course it is disappointing, even heart wrenching, to find out that your well researched house is now a problem house, but you now know the facts and can either negotiate with the seller, or move on. You may want the home so much that it will be worth it to negotiate the price and then perform the repairs. Imagine, though, if you had not gotten the inspection – you would have had some very unpleasant surprises.Can I ask my home inspector to perform the repairs?You can, but if your inspector is ethical, he/she will refuse, and correctly so; it is a conflict of interest for the person who inspected your home to also repair it! Inspectors are specifically barred from this practice by licensing authorities, and it’s a good practice – an inspector must remain completely impartial when he or she inspects your home. This is one reason you should have a professional home inspector inspect your home and not a contractor – the contractor will want the repair work and you are likely to not have an objective inspection from this person even though they mean well and are technically competent.Does the Seller have to make the repairs?The inspection report results do not place an obligation on the seller to repair everything mentioned in the report. Once the home condition is known, the buyer and the seller should sit down and discuss what is in the report. The report will be clear about what is a repair and what is a discretionary improvement. This area should be clearly negotiated between the parties. It’s important to know that the inspector must stay out of this discussion because it is outside of their scope of work.After the home inspection and consulting with the seller on the repairs, can I re-employ the inspector to come re-inspect the home to make sure everything got fixed?You certainly can, and it’s a really good idea. For a small fee the inspector will return to determine if the repairs were completed, and if they were completed correctly.What if I find problems after I move into my new home?A home inspection is not a guarantee that problems won’t develop after you move in. However, if you believe that a problem was visible at the time of the inspection and should have been mentioned in the report, your first step should be to call the inspector. He or she will be fine with this, and does want you to call if you think there is a problem. If the issue is not resolved with a phone call, they will come to your home to look at it. They will want you to be satisfied and will do everything they can to do this. One way to protect yourself between the inspection and the move-in is to conduct a final walkthrough on closing day and use both the inspection report AND a Walkthrough Checklist to make sure everything is as it should be. </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/35/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Wedding Entertainment Tips for Younger Guests</title> <link>https://gimletyms.info/32</link> <comments>https://gimletyms.info/32#comments</comments> <pubDate>Sun, 26 Feb 2023 15:45:21 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=32</guid> <description><![CDATA[Children are notoriously restless and don’t have very long attention spans. Weddings are often a challenge for their patience and good behavior. If you anticipate having young children attend your wedding, choose wedding entertainment that makes allowances for them. You don’t have to turn your wedding into a playground, but having wedding entertainment to keep [...]]]></description> <content:encoded><![CDATA[<p> Children are notoriously restless and don’t have very long attention spans. Weddings are often a challenge for their patience and good behavior. If you anticipate having young children attend your wedding, choose wedding entertainment that makes allowances for them. You don’t have to turn your wedding into a playground, but having wedding entertainment to keep kids occupied means everyone will have a better time!Don’t test their patience.<br />While the speeches may be a part of the wedding entertainment for the adults, especially if they are funny, kids won’t understand and will be bored. Remind those making speeches to keep them short. Consider a break if there are many speeches, where guests can get up and walk around, and young children be released from sitting still!Bring in some help.<br />Most wedding entertainment is aimed at adults, so consider bringing someone in specifically to help entertain the kids. If you can, set up a small room for the kids to use and stock it with some books and toys. Hire a babysitter or two from a service for the evening, to read the kids stories and play games with them. It will be a small part of your wedding entertainment budget, but a big hit with guests. Not only will you keep the kids occupied, but their parents will be free to enjoy the rest of the wedding entertainment without worrying about the kids.Get into the groove.<br />Kids love to dance from the time they can stand, so when choosing the musical portion of your wedding entertainment, try to select music that kids will enjoy. This doesn’t mean you need to hire children’s musicians as your wedding entertainment! Just try to select a genre that young kids will enjoy dancing around to. If you have a DJ, ask them to play a good selection of bouncy, danceable beats. You will find the adults enjoy it just as much as the kids, and the dance floor will be packed. If you are planning to hire a band to provide wedding entertainment, look for a band that plays upbeat and of course appropriate music for kids to enjoy.A bag of fun.<br />Wedding entertainment for kids doesn’t have to be complicated. Take a cue from a children’s birthday party and provide goodie bags for the kids attending. Fill them with simple activities such as crayons and a small coloring book, small toys, play-dough, or travel versions of popular games. These things will let kids create their own wedding entertainment, and can occupy them both at the table and throughout the evening.Send them on a mission.<br />Another great wedding entertainment idea for kids is to set up a treasure hunt they can engage in throughout the evening. Give them a list of items to collect from around the reception hall. Plan ahead by placing the item around the hall so they can find them easily enough, but with enough effort to keep them occupied for a while. As part of the wedding entertainment for the rest of the guests, hand out prizes at the end.Wedding entertainment for kids simply means keeping them occupied and preventing boredom. When you incorporate these ideas into your wedding entertainment plans, you will be sure both parents and kids have a blast at your wedding! </p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/32/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>There is an excessive amount of traffic coming from your Region.</title> <link>https://gimletyms.info/30</link> <comments>https://gimletyms.info/30#comments</comments> <pubDate>Sun, 05 Feb 2023 23:56:42 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <category><![CDATA[company]]></category> <category><![CDATA[Exchange]]></category> <category><![CDATA[forex]]></category> <category><![CDATA[Investor]]></category> <category><![CDATA[Market]]></category> <category><![CDATA[Traders]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=30</guid> <description><![CDATA[#EANF#]]></description> <content:encoded><![CDATA[<p>#EANF#</p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/30/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>There is an excessive amount of traffic coming from your Region.</title> <link>https://gimletyms.info/28</link> <comments>https://gimletyms.info/28#comments</comments> <pubDate>Sun, 05 Feb 2023 06:12:56 +0000</pubDate> <dc:creator>admin</dc:creator> <category><![CDATA[Uncategorized]]></category> <category><![CDATA[accounting]]></category> <category><![CDATA[business]]></category> <category><![CDATA[companies]]></category> <category><![CDATA[google]]></category> <category><![CDATA[near me]]></category> <category><![CDATA[offices]]></category> <category><![CDATA[restaurant]]></category> <category><![CDATA[sale]]></category> <category><![CDATA[services]]></category> <guid isPermaLink="false">http://gimletyms.info/?p=28</guid> <description><![CDATA[#EANF#]]></description> <content:encoded><![CDATA[<p>#EANF#</p>]]></content:encoded> <wfw:commentRss>https://gimletyms.info/28/feed</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel></rss> If you would like to create a banner that links to this page (i.e. this validation result), do the following:
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