A promissory note is the main document to lay out all the terms, conditions, and payment information for the borrower to sign. It is a legally binding promise made by the borrower that they will repay the loan under the said conditions of the promissory note. Parts of the promissory Read more
The most that anyone could hope for is an educated guess of where the real estate market sentiment is heading. If anyone could predict the actual future price movements, they would buy all the inventory and keep it for themselves. Real estate agents look at the number of listings month Read more
Budgeting is one of the fastest ways to get to home ownership. Make a budget each month based on how much you earn, how much you can spend, and how much you will save towards buying the home you want. Without a clear monthly budget, you may not be saving Read more
A newly renovated house by an owner that has never lived in it, may not always retain a high value. It is important to inspect a house completed purely for flipping more closely than a home that was the seller’s primary residence because the flipper makes money on building with Read more
These condominium buyer’s closing cost estimates provide an idea of how much additional funds are needed at the actual closing. The buyer’s attorney will provide a worksheet with numbers closer to the actual cost prior to the closing of the condominium unit. Learn how a buyer rebate can help offset Read more
Closing cost estimates for the seller of condominiums and single family homes are only for reference. The exact cost to the seller will be different on the closing cost details provided by the seller’s lender and attorney. For the Seller of Condos and Single Family Homes Estimated Cost Notes Broker’s Commission Read more
Sometimes coming up with the down payment or getting a loan is not easy. If you have a lot of credibility with your friends and family, then you can work something out with them. For example, it is possible to buy a house with a relative who can help you Read more
Buying a condo is very similar to buying a house without the responsibilities of maintaining the exteriors of the house and sidewalks. In addition, you are joining a community with share common areas and amenities. A condo offers more flexibility than a house in that a condo can range from Read more
An annual percentage rate (APR) is the total cost of taking out the loan. By law, lenders are required to publish the APR. It is similar to the unit price (per pound/ per quart/ per 100 sheets) vs the retail price that allows borrowers to compare apples to apples. Sometimes Read more
A buyer rebate can help you save thousands of dollars in a single transaction. Buyer pays $300,000 for home. Purchase price includes 6% commission as written in the listing agreement. 3% to buyers broker is $9,000 3% to listing broker is $9,000 Buyer’s broker pays 2% rebate to buyer – Read more