There are all sorts of loans for all types of homes, including "fixer uppers". Lenders can offer attractive terms to buyers who want to renovate their purchase. One well-known lender offers three different types of renovation loans. The most popular requires a down payment of only five percent.
When applying, borrowers submit architectural drawings of the proposed improvements. A completed home value is determined and financing terms are offered, with interest rates usually coming in just above those on conventional loans.
Payments can be separated into six parts during the renovation, with disbursements issued at the completion of each stage of the project, similar to a construction loan. Some lenders will even roll the first six months of interest into the total loan amount, freeing you from making payments while you're heavily involved in your improvement project.
With so many financing options out there, start the discussion with a real estate agent who is experienced in matching homes to buyers and buyers to loans!
Thursday, February 14, 2008
Advantages of using and Agent
If you expect top dollar in today's market, you can count on a real estate professional to provide services critical to successful marketing, such as putting your home on the Multiple Listing Service and other web sites.
The agent handles all aspects of the sale, from preparing your home to attract buyers, to negotiating the purchase offer. Your property can be marketed effectively through online advertising, targeted mailings, print ads and personal networking,
When the purchase offer comes in, other experts in the office do their part to help the entire process move along smoothly to a satisfying conclusion. Your agent will want to sell your home for the highest price possible in the shortest time possible. A listing that stays on the market too long can get stale and not bring the desired price.
Price your home competitively from the start, present it in the finest manner possible, and market it through the expertise of a professional supported by a network of experts.
The agent handles all aspects of the sale, from preparing your home to attract buyers, to negotiating the purchase offer. Your property can be marketed effectively through online advertising, targeted mailings, print ads and personal networking,
When the purchase offer comes in, other experts in the office do their part to help the entire process move along smoothly to a satisfying conclusion. Your agent will want to sell your home for the highest price possible in the shortest time possible. A listing that stays on the market too long can get stale and not bring the desired price.
Price your home competitively from the start, present it in the finest manner possible, and market it through the expertise of a professional supported by a network of experts.
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