Tag

home equity line of credit

Why Contingent Offers Are Making a Comeback (They Are)

Contingent Offer Multiple Choice [Editor’s Note:  Nothing in this post or on this blog should be construed as offering legal counsel.  If you require legal advice, please consult an attorney.] Test your knowledge of the Summer, 2015 housing market and field this question: Contingent offers — when a Buyer buys contingent on being able to...
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Why Sellers Don’t Like Contingent Offers — & How to Overcome Their Reluctance

Contingency Complications [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] “Lake Wobegon, where all the women are strong, all the men are good-looking, and all the children are above average.” –Garrison Keillor It can be hard enough shepherding one...
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Beating the Financing Buzzer to Closing (Just)

The Too-Good-to-Be-True Home Equity Loan When is a home equity line of credit (“HELOC”) — offered at a 2.99%, six month teaser rate — too good to be true? When, four months after the would-be Borrower first applied for the loan, the very big (and very overwhelmed) national lender still hasn’t approved it. Ticking Clock Usually,...
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For Sale at Costco: Bulk Detergent, Flat-Panel TV’s, & Mortgages (Mortgages??)

Reason(s) Not to Go With the Cheapest Loan/Lender By definition, all real estate is unique. Money isn’t. (In economists’ lingo, money — and other commodities like aluminum, corn, and lumber — are what’s called “fungible”). So, is there a reason for prospective home Buyers (and mortgage borrowers) not to simply get the cheapest loan they can...
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How Great Fielders and Great Closers Are Alike

Making a Catch — or a Closing “Save” — Look Easy “Paul Blair never made a great catch because he never had to; he was always standing under the ball when it came down.” –Earl Weaver, Baltimore Orioles manager; “Paul Blair, Center for Champions, Dies at 69.”  The New York Times (12/27/2013). How are great...
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The Case of the Missing Sweat Equity Buyer

Three (and one half) Theories One of the more confounding things about today’s — shall we say — “unusual” housing market is the conspicuous absence of what Realtors used to call the “sweat equity” Buyer. In no particular order, here are the three explanations I hear most often — and find most credible. One.   Soft...
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