When you buy a home in "as is" condition, you're buying it the way it stands. But for some home buyers, "as is" condition is a little confusing. They're not sure if it means they can go back and sue the sellers if something is wrong physically with the house, or if the house also comes with the furniture and fixtures the way they saw it when they made their offer. What does buying a home in "as is" condition really mean?
If you decide to buy a house and change your mind just before closing can you get out of your home purchase contract? It depends on the contract and the reason that you want to cancel your home purchase. You may or may not be able to get your earnest money or down payment money back when you cancel a home purchase contract. To understand what to do it's advisable to contact a real estate attorney who can review your contract.
When making a for-sale-by-owner real estate purchase, it's important to have a real estate attorney who can assist you in the process and put together an "offer to purchase" contract. An attorney can ensure that the proper information is included in an offer to purchase contract. The attorney will provide legal advice about the offer to purchase contract and navigate other concerns when purchasing real estate that is for sale by owner.
Is tearing down a home and beginning new construction, or building an addition to a home owner's current home on 32 acres of property better for the value of the home? New construction on a large piece of property could increase the value of the property itself as opposed to building an addition. Getting a home equity loan can help you with a home improvement project, whether its building an addition to the current home or deciding to go with new construction.
As baby boomers are entering retirement, more people are trying to make their homes work for them. Instead of moving to a smaller home or even moving into a retirement home, people in their 30s, 40s and 50s are following a trend called "aging-in-place." They are taking their home renovation projects or gut rehab, and doing things like adding an elevator. With additions like an elevator, if they face a handicap or disabilty in later years, they, and their home, will be prepared.
Residents who pay fees to homeowners associations may be questioning the HOA fees in this economy. Are the HOA fees being used for the right purpose? Is your HOA financially sound? To find out about the health of your HOA or condo association you should research the latest budget and attend some association meetings.
Mortgage loan borrowers should expect to pay mortgage fees between 1% and 2% of the mortgage loan amount. Mortgage fees depend on the mortgage loan amount, mortgage loan type, interest rates and when in the month you closed on your home. Watch this Expert Real Estate Tips video for more information about mortgage loan fees and how to estimate other costs associated with mortgage loans.
