This is an FHA loan program that gives you money to spend on renovations after closing. You pay 1/4 to 3/4 points higher on interest, the repairs have to be approved before closing, and the work needs to be done quickly once the home is yours.
Would you like our Checklist for Buying an Investment Property? Thinking about buying an investment property? With so many good deals out there today it’s not surprising, and you are not alone. Here are some tips to help you make the best choices for your...
Everyone wants to find the perfect house, the one they know will feel like home from the moment they walk in the front door. Believe it or not you don’t have to look at every home on the market, and hope one of them is ‘it’. There is a better, and...
There are 8 homes in Longleaf under contract waiting to close. 2 are built before 2010, however, these numbers are a bit skewed since they were either short sale or bank owned. They were asking $101 average per sq foot when they went under contract. The 6 remaining were asking $135 per sq ft when they went under contract. Should be interesting to see what all these actually close out for.
A Short Sale is when a home owner, NEEDING to sell their home, cannot sell it for what is owed on the loan, so the lender steps in and will allow the sale to go through and possibly forgive the difference owed – or short. A short sale is a term used by lenders...
Even though you are putting up a deposit there are assurances for you, the buyer, as well. It’s important to keep in mind that a deposit is not an extra cost associated with buying a home. This will be credited towards your closing costs or down payment at closing.
