Assumable mortgages benefit the buyer & seller

There are several benefits to assuming a mortgage.  By avoiding all Realty, Down Payment, Closing, & Appraisal cost you are not exposed to anything that would normally mark up the price. In addition there are no bidding wars to contend with. You will own the property for the current loan amount, which could be much

Home Inspection

A inspection gives the buyer an unbiased review of the overall condition of the home.  While assumable properties do not require an inspection prior to purchase, doing this beforehand does provide protection. The primary objective is to take an in-depth visual examination of the physical condition, structure, equipment, finishes, and mechanical systems. Depending on your

Define your search criteria

There is a massive inventory of homes for sale on line.  Many generically advertise the anticipated monthly payment. These serve as a great guide to follow, but why leave it up to a “guess”.  Get the exact amount.  Understanding the monthly payment you are comfortable with can make or break the sale.  Ask your trusted

Financing the assumable loan

Can a buyer offer “Owner Financing” for an assumable loan?  Yes.  Some would say No, but really its all a play on words. It is the equivalent of a “refinance”.  The buyer must simply understand the 2-step process.  Each step is a separate legal transaction.  They will have to Assume the sellers current financing first. Then they

Facilitating the sale smoothly

Assumable Real estate transactions certainly can save lots of dough, but there are some good reasons to have your realtor facilitate the sale.  Since it is a financial investment you may want to know that it does not cover things un-attached to the “dwelling”. Also, inspections for termites, asbestos, structural damage, mold, septic tank and

Why would a person assume a underwater mortgage

Yes, unless a seller has the cash to cover the difference between what their house will sell for and what they owe, they may feel pretty much stuck. Buyers though in a declining market, find  many benefits to bailing them out. In fact it may be the smartest financial move they have ever done. There are several factors

Resurrecting assumable loans

Banks are overwhelmed with short sales and foreclosures that hurt their balance sheet.  At the same time, home values continue to decrease across the nation.  This has become an ugly cycle that needs serious correction.  Reviving the assumable mortgage market makes more sense than ever.  And now we have done it!  Instead of forcing a buyer

You have good reason to List it yourself

Realize the benefits of selling your house yourself.  You have full control of the situation. You are the one who decides when you will show your house and to whom. You know your house better than anyone else, so you are in the best position to sell it. Best of all is the relief of

Good photos add curb appeal

In today’s online world, curb appeal has taken on a whole new meaning. When buyers take a fresh look at your home through the eyes of the internet, you can invoke an emotional response.  It will be positive if you have good photos.  In fact, within the first 3 seconds the impression of your photos

Open Houses

While open houses are promoted as a great way of finding a buyer, a National Association of Realtors study found that their success rate is a mere 2%.Considering that over 50% of house hunters look on the Web, online marketing will have a much higher success rate. Instead of ringing a doorbell and taking off