True (Non)Confessions First, my definition of “dumb”: something that adds nothing to the contract — or worse, confuses things. In the former category? The line on the Financing Addendum where the Buyer is supposed to fill in the maximum interest rate on the mortgage they’re applying for (to buy the home). Too low an interest...Read More
Ways to Finance a Home Purchase One of the more obscure fields on MLS lists the various kinds of financing the Seller will accept, or may be available to buy the home. So, it’s typical to see “Conventional” (federally guaranteed mortgages under $417k), “FHA,” “DVA” (Department of Veteran Affairs), and “Jumbo” (loans over $417k) —...Read More
When to Hold Onto an Offer, Or, It Takes Two (**Four?) to Tango The first question a Buyer’s agent contemplating writing an offer this weekend should ask is, “is there anyone around to receive it* (and then respond)? Assuming the answer is “no,” either because the listing agent and/or homeowner are unavailable, what do you...Read More
Not Getting What You Don’t Pay For It won’t show up in my 2012 sales statistics (or my bank account), but one of the more protracted deals I was involved with this past year was helping a good friend (and repeat client) buy a $63,000 St. Paul foreclosure. Why no record of the deal? Because I...Read More
