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Central Valley Real Estate
Financing Your Home >When Interest Rates Rise
Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates. One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement. If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.
What is encroachment, and how might it affect a property owner?
Encroachment, refers to the unauthorized intrusion of a building or improvement onto another person's property; it often requires a surveyor's report to support the claim.
Barbara Vander MeulenKeller Williams Realty229 Rte 32Central Valley, NY 10917Direct: 845-674-0052Fax: 845-544-1138Home Office: 845-544-1138barbaravandermeulen@BestImageAgent.comBuying a home is one of the biggest decisions you will make. I have been licensed for the last 10 years and truly enjoy guiding people through the process of becoming homeowners. Finding a Realtor that is Full Time in the Business, that will respond to you and your questions is key. I have great follow up skills which helps keep all parties involved on track. Take a look at what my clients have to say about my service.
Barbara Vander MeulenKeller Williams Realty229 Rte 32Central Valley, NY 10917Direct: 845-674-0052Fax: 845-544-1138Home Office: 845-544-1138barbaravandermeulen@BestImageAgent.com
Buying a home is one of the biggest decisions you will make. I have been licensed for the last 10 years and truly enjoy guiding people through the process of becoming homeowners. Finding a Realtor that is Full Time in the Business, that will respond to you and your questions is key. I have great follow up skills which helps keep all parties involved on track. Take a look at what my clients have to say about my service.
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