With today’s real estate market in shambles, buying new homes offers more benefits than ever. Here’s why your new house can fulfill your dreams, for less.
There is an option however, that allows you to have a refund of the appraisal, home inspection, and earnest money deposit at the closing of the escrow. This is only possible however, if the seller agrees to pay for all of the buyers closing costs. The standard buyers closing costs are first mortgage payment, property and transfer taxes, insurance, etc.
Mortgage Insurance ~ If your down payment is less than 20%, then mortgage default insurance from CMHC or Genworth is mandatory. This is a one-time premium that insures the lender against default of the mortgage. The premiums range from.50% to 2.75% depending on different variables. Your mortgage broker will let you know what yours is. These premiums do not have to be paid up front, they are just added to the mortgage, but you certainly have the options of paying them separately if you prefer.
Today, the number of short sales in the Sacramento real estate market has increased exponentially and I continue to get calls and emails asking what they are, can we do one, and are they a good way to buy a house?
Inspect the walls of the house if there are cracks. You can ask the owner to adjust its price because you still have to spend for the repaint and repair.
And, there aren’t many problems associated with brick and stone. The protection they add to a home creates a fortress-like atmosphere. Remember the story of the Three Little Pigs? When the wolf huffed and puffed he could not blow down the house made of brick.
It all comes down to cost. If you can afford a professional, go this route. If you can’t, a kit is an economical way to treat an infestation that is just starting to take hold.