Recently I have represented clients who did not list/ market their property with a realtor but were contacted directly by buyers who claim they will buy the property with no mortgage and inspection contingencies and close within 30 days. What generally occurs is that the Buyer gives them a very basic Contract and almost always… Read more »
Posts Categorized: Real Estate
Are the current home interest rates (7% – 8%) the new normal
There is a lot of information on the internet with regard to future of home mortgage (loan) interest rates. Some economist say that there will be some rate droppage later this year. Other say rates will remain flat for 2024. There are even economist who say that rates will slightly increase this year. All… Read more »
Why you need to test for an Underground Storage Tank
Many homes in the past were fueled by an underground storage tank. Some still are, but a significant number of homes are now either fueled by natural gas or an above ground fuel tank. Of these homes, many were converted to either gas or an above ground tank, so an issue arises as to… Read more »
Buying a Property from a Bankruptcy Trustee
With consumer bankruptcy filings trending upwards, more properties will become available through trustee sales. This is good for the consumer looking to purchase homes, as there will be more inventory on the market and the bankruptcy trustee is mandated to sell the property. However, the process is different from that of a traditional sale, and… Read more »
What to do when the Central Air-Conditioning System Cannot be Tested
One of the issues that we often come across in the winter months when a client is buying a home is, what happens if the central air-conditioning system cannot be tested? Often inspectors will write in their report that the said system cannot be tested due to the weather not being above 55 degrees Fahrenheit… Read more »
Purchasing a Property when you already own a property (Part II)
In Part I of our post, we focused on the issues that can transpire if Buyers planning on purchasing the new property for their primary residence and on holding onto their current property – at least until after closing. In this post however, we will focus on what happens if Buyers know they have… Read more »
Purchasing a Property when you already own a property (Part I)
We often get calls from potential Buyers (hereinafter “Buyers”) advising us that they are purchasing a new Property. As a result, one of the first things we ask is are you getting a loan, and if so, do you already own another property? If the answer is “yes” to both, we ask a follow-up… Read more »
Snow days can bring about unfortunate events
Almost everyone loves a snow day. After all both work and school can be closed, resulting in sleeping late, or playing with your children outside. This can allow for the creation of some great memories. However, not everything that happens on a snow day is positive and if you are not legally prepared the results… Read more »
Waiting until the rates drop should not be the sole reason in buying or selling a home
One of the things we hear most these days from people who are looking to buy or sell a home is we are holding off until the rates come down. After all, for potential sellers who intend to buy, the rational is it’s hard to go from a 3.0% interest rate to 6.5% interest rate. … Read more »
It’s a Seller’s Market, So Should You Buy?
(Hint: the answer is not what you think) Home prices are at an all-time high as are mortgage interest rates. As anyone in the industry can tell you, this is fertile ground for a seller’s market – which is exactly what is going on: these are prime conditions in which to be a seller. So… Read more »
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