A land survey is an essential tool that is used to determine the exact boundaries of a piece of land or property. It is often required when buying, selling, or dividing land, and is also important for resolving property line disputes. Process: The process of land surveying typically involves a licensed surveyor visiting the property to take precise measurements and create a detailed map or plan of the land. This may include identifying any physical features of the property, such as trees, … [Read more...]
What is a Bridge Loan and How Does it Work?
A bridge loan, also known as interim financing, is a short-term loan used to provide temporary financing until a borrower secures long-term financing or sells an asset. Bridge loans are commonly used in real estate transactions, such as when a buyer needs to close on a new home before selling their current home. Bridge loans are typically secured by the borrower's current property, which serves as collateral. The amount of the loan is determined by the equity in the borrower's property and the … [Read more...]
What You Need To Know About Your Home Appraisal And Your Mortgage
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted. Next the buyer schedules the inspection and home appraisal. Finally, everyone is ready for closing. It’s easy to overlook the impact of some of these steps, but when it comes to a mortgage, the home appraisal is actually quite important. Banks want to see that they are lending money for an investment that is worthwhile, so that … [Read more...]
Buying A Home With Cash Versus Low Interest Rate Mortgages
When deciding whether to buy a home with cash or to obtain a low-interest rate mortgage, there are several factors to consider. A cash offer can be very competitive in a real estate market, as it can give the buyer a significant advantage over buyers who need to obtain financing through a mortgage. Here are additional advantages and disadvantages of both. Advantages of buying a home with cash: You own the property outright, which means no mortgage payments are necessary. You may be able to … [Read more...]
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