May 2017

Found 3 blog entries for May 2017.

Do You Know the Cost of Waiting? [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.9% according to CoreLogic.
  • Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!

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Something that surprises many homebuyers is there is nothing in our contracts that states the size of a home you are buying.

Home sizes are usually quoted using a 3rd party measurement. The Realtor listing the home will say the home is 3,000 square feet and then state the source of that measurement, usually the tax appraisal office. The tax office appraisal is not always accurate. Even two experienced appraisers may come up with different measurements.

Your mortgage company will have the home measured by an appraiser. Because the home measurement isn’t part of the contract if the mortgage company appraiser measurement comes in smaller than expected that doesn’t give you the right to terminate your contract.

This is an interesting article talking

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Would you like to move up to a larger home but you’re afraid of having to move twice?

Something that may help your situation is called a leaseback. A leaseback allows you to stay in your home for a period of time after closing, making your move to a new home easier.

We have become very experienced in helping our clients negotiate leasebacks. Currently we have 4 seller clients who we helped negotiate a lease back for as part of their sale.

Here’s how a leaseback works…

Along with the standard contract there is a 2 page addendum that allows for the seller to remain in the home after closing as a tenant. The buyer becomes the landlord.

This is a very simple form that spells out how long the seller can remain in the home along with a rental

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