Fixed-rate mortgages are traditionally the most popular type of mortgage in America . They are typically taken out over a 30-year period, but lengths of 15 to 25 years are also available. The interest rate and monthly mortgage payment on a fixed-rate mortgage remain the same throughout the entire life of the loan. The main advantage of a fixed-rate mortgage is that the borrower knows exactly what their monthly costs will be until the entire mortgage has been completely paid out. The main disadvantage is that the borrower pays a premium …
Mortgages Explained
Basically, a mortgage is just a loan that is to be used to finance the purchase of property. The property itself is used as security to ensure repayment and the lender holds the title or deed to the property either directly or indirectly (depending on your jurisdiction and type of lender) until you have repaid the entire amount plus interest. When shopping for a mortgage you should keep in mind that there are many different types available. They can range from fixed rate mortgages where the interest rates never change, …
Home Inspections
The majority of purchasers are not overly surprised by the findings of their home inspection. Before getting this far, they have usually had a very close look at the property. And yes, they already know about the peeling paint and old furnace. They may even have noticed the wet basement and taken that into account when making their offer. It is when an inspection uncovers something unexpected that an inspection condition could save you from making a major mistake. Below are some of the more common problems found in a …
Common Buying Errors
The selling and buying of a house can be a stressful and confusing process. Not only is it very expensive to learn from your mistakes but very few people move often enough to gain the needed experience. Although there is no substitute for doing your homework (start by asking your family and friends who have recently moved for their experiences) the following list of common pitfalls may be helpful. 1. Looking for a house without getting pre-approved by a lender: When you are pre-approved, you are effectively a cash buyer. …
Common Selling Errors
The selling and buying of a house can be a stressful and confusing process. Not only is it very expensive to ‘learn from your mistakes’ but very few people move often enough to gain the needed experience. Although there is no substitute for doing your homework (start by asking your family and friends who have recently moved for their experiences) the following list of common pitfalls may be helpful. 1. Pricing Incorrectly (too high or too low): Make sure you determine the market value of your home correctly: If your asking price …
Best Asking Price
A realistic asking price will help to sell your home quickly and for top dollar. By properly pricing your home you ensure that the gap between the asking and selling price is small and that there will be a greater likelihood of competing offers. Your home will also maintain its ‘marketability’ for a longer period of time before people start to say… “That home has been for sale forever. What’s wrong with it?” A house that is priced 10% over its actual market value is many times less likely to …
As a Buyers Agent
Buying a home is a complex and stressful undertaking. Getting an expert to help will save you time, money and aggravation. Looking out for your best interests: By asking a REALTOR® to act on your behalf during the purchase or sale of a home, you create an Agency Relationship and become the REALTOR®’s client. REALTORS® always owe their clients full fiduciary duties, such as loyalty, confidentiality, accountability, duty of care, obedience to all lawful instructions, and full disclosure of all pertinent facts. Getting the best deal – Know the Market: What have similar …
As a Sellers Agent
Selling a home is a complex and stressful undertaking. Getting an expert to help will save you time, money and aggravation. Looking out for your best interests: By asking a REALTOR® to act on your behalf during the purchase or sale of a home, you create an Agency Relationship and become the REALTOR®’s client. REALTORS® always owe their clients full fiduciary duties, such as loyalty, confidentiality, accountability, duty of care, obedience to all lawful instructions, and full disclosure of all pertinent facts Getting the best price: Professional marketing means top …
Why Use an Agent?
Selling your home is a complex and stressful undertaking; Getting an expert to help will save you time, money, and aggravation. Looking out for your best interests: By asking a REALTOR® to act on your behalf during the sale of your home, you create an Agency Relationship and become the REALTOR’s client. REALTORS® always owe their clients full fiduciary duties, such as loyalty, obedience, confidentiality, accountability, duty of care, and full disclosure of all pertinent facts. Getting the best price: Professional marketing means top dollar and a faster sale. REALTORS® …