In my previous post about why home sellers need to shy away from buyers who have an "approval' for an FHA mortgage, I was concerned that home owners would be saddled with tons of unanticipated expenses that could seriously reduce their net proceeds.
You see, when an FHA appraiser comes to your home and does his thing, he is not only loking for … [Read More...]
Back in the olden days, you needed to save a lot of money in order to buy a house. 20% was the normal number plus closing costs. Depending on the sales price of the house, it could really add up. Of course, the buyer moved into the house with a ton of equity not only in terms of money but in terms of a strong desire to keep up their … [Read More...]
Labor Day is one of those quintessential American holidays. It supposedly celebrates the American labor movement that bought us things like the 40 hour work week, the end of child labor and fairer wages. In reality it has morphed into the final long weekend of the summer and marks the unofficial end of summer.
People have stopped scheduling … [Read More...]
This post goes out to my fellow Twitter buddy @gdeems who suggested I might write something like this.
It's all about the fact that there is rarely a real estate transaction that doesn't have some glitch in it. A lot of the times it's a lot of glitches.
My job is to make most of the nuts and bolts of the real estate transaction invisible … [Read More...]
Buying a home isn't cheap.
There's the down payment. Even when a home buyer qualifies for a low down payment or zero down payment loan (in the case of VA loans), they still need to come up with closing costs. Then there is the cost of moving and furnishing and all that kinda stuff.
So, it's natural for the parents to want to help.
This is … [Read More...]