The home buyer’s offer is accepted by the seller. Now the time clock starts for the buyer to perform their due diligence. There are several contingencies in the contract that protect the buyer, but none more important than the home inspection period.
Perhaps it is his outstanding personality, or perhaps it has to do with the amount of time that she spent nursing him back to health….the hours that she spent lying on the floor, holding his head, when he was too weak to stand. Perhaps it is all of this. Regardless, his new home must be exceptional in order to win her stamp of approval.
Keep rent to own homes in mind. Some people are turned off by the idea because they do not understand the process or are afraid of being cheated. With the right research, a rent to own home can give you an opportunity to try before you buy and most times, deal directly with the owner.
After you open escrow you need to do your home inspection as soon as you can. You only have 17 days In a standard purchase contract to do your home inspectors syracuse ny and approve of all matters effecting the property. This includes approving the appraisal report, title report, disclosures, if it a condo the CC&R’s association rules and regulations too.
If buying a duplex triplex or four unit the down payment may be 20% owner occupied and 25% non owner occupied. Lender guidelines have changed a lot since the market boom. I remember when the real estate market was going up the lenders were offering 100% financing and you could buy 4 units with 5% down, that is not possible anymore unless you are a veteran. If you want to buy residential Income property 2-4 units the down payment is min 20-25% down. If you are a Investor buying Income property 5 units and up you will have to put 30-35% down. These are typical lender guidelines and they vary from lender to lender.
When you’re looking for a property, always see to it also that it has a parking lot or garage to accommodate your vehicle. Leaving your vehicle outside the heat of the sun and sometimes get wet by the rain will ultimately destroy it. Vehicles open to the elements such as the heat of the sun and rain moisture will get rot. Orange coating will appear in the surface of your car in not taken cared of properly.
You can change the paint color, or add wallpaper. You can install a swimming pool or take down a fence. You can refinish hardwood flooring or add crown molding. You can make repairs, but be prepared to possibly spend big bucks. On the flip-side, you cannot change the location. If you are house-hunting, or plan to in the future, take a few minutes to review these items. It could save you time and money in the long run.
? Barter – For savvy networkers, barter (direct exchange of products or service) could be a clever approach to get rid of unused inventory, or services. You can bear a formal barter service, for third party trades, or simply deal directly with a trading partner.