Either buying or selling a home can be extremely stressful, it can be even more overwhelming if one is trying to do both at the same time. The good news is that this happens all the time and by following a few simple tips, both buying and selling can be a seamless process.
You probably instinctively realize that rising interest rates will affect home buyers. The interest rate you pay can make a big difference in the size of the home loan you will qualify for as well as the price of the home you’ll be able to buy. Mortgage brokers use the monthly mortgage payment to determine how much you can afford to pay. Of course the larger the payment, the harder it is to qualify.
Contingencies are commonplace in contracts of all kinds. A contingency allows for one party or another to legally back out of a contract in the event of some specific condition occurring. They are protection against the unknown.
Who hasn’t dreamed of building their dream home from scratch? From the perfectly designed kitchen to the expansive master bedroom suite, it’s an appealing idea to create the perfect home for you and your family. But is building a new home really the right decision for you? There are benefits and drawbacks for both new construction and buying a resale home.