All Posts Tagged With: "purchase"
What Is “Buyer’s Remorse” in Real Estate?
Question: Some people get the flu but I think I’ve got buyer’s remorse. We bought a home and now seem uncertain if it’s right for us. Can we get out of the contract? Answer: It’s entirely common to feel uneasy after making a real estate purchase. Buying a property is a major decision. Not only [...]
3Sep2008 | Peter G. Miller | 0 comments | Continued
Should I Buy A House In “As Is” Condition?
Question: We’re considering the purchase of a home on an “as is– basis. We understand that we should get a home inspection and other checks before we buy. However, isn’t the seller also supposed to tell us about any problems? Answer: Both “as is– and seller disclosure rules vary by state. In the general case [...]
2Sep2008 | Peter G. Miller | 0 comments | Continued
How Quickly Must I Apply For A Mortgage?
Many sale agreements require buyers to apply for a mortgage within a specific time period, say seven to ten calendar days after the contract is signed. This is a negotiable item, however, and can be any period agreeable to both parties. This is an important matter because if an application is not made, then a [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
Does It Make Sense To Buy Real Estate For Cash?
Probably the best answer works like this: Is there a better place to put your money? Is there an alternative investment that will produce like returns with equal risk? Is it simply more comfortable as a matter of personal preference to pay cash? The decision to pay cash or not pay cash includes both economic [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
What Is A Right Of “First Refusal?”
A right of first refusal typically allows a buyer to purchase a home by matching another bid. For instance, if Green has a right of first refusal to purchase the Smith house, and Smith receives an offer of $100,000, then Green will be able to buy the property for $100,000. A right of first refusal [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
What Is A Lease Option?
It sometimes happens that a buyer does not want to purchase, or cannot purchase, immediately, and a seller does not want to sell, or cannot sell, immediately. In this situation, both parties may want a lease option arrangement. In general terms, a lease option is an arrangement where a prospective buyer moves into a property [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Can all the rent paid in a lease purchase be credited toward the down payment?
If the purchase is being financing by a commercial lender, the lender will want to know the fair market rental for the property. Anything above the fair market rental can be considered a credit toward the purchase, anything below a fair market rental represents a discounted sale price. A lower price, in turn, means the [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
What appliances are typically included in a property sale?
Many sale agreements outline which appliances are to stay with a property and which appliances are to go. However, in making an offer a purchaser can say that the home is being purchased for $x and that as a condition of the sale the seller must leave certain appliances, say the clothes washer and dryer. [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Bermuda for the Bermudians!
If you want to find one of the most beautiful places on earth, just head east about 650 miles from North Carolina to Bermuda, officially an overseas territory of the United Kingdom, but in reality a micro-country with it’s own way of doing business. Bermuda is an island paradise with fabulous beaches, wonderful weather, astonishingly-clean [...]
20Aug2008 | Peter G. Miller | 0 comments | Continued
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