Boca Mortgage Blog

Four Things To Avoid With Mortgages

May 30th, 2014 11:14 AM by Leonard Silvestri

 
                      





 When buying a home, it is often difficult to ignore the many offers being thrown your way. No down payment necessary! Low monthly payments! These types of offers are everywhere, and they often seem too good to be true, because they are. Doing your research beforehand will protect you from getting into a difficult situation. Read below for the types of mortgage messes to avoid...

Sometimes a home seems perfect, but the building inspector gives it a failing grade in a few key areas. Maybe the roof needs to be repaired, or the water heater needs to be replaced — things that can be can be fixed, but aren't necessarily deal breakers. To sweeten a deal on a fixer-upper, many buyers will ask for repairs be made before the move-in date. However, this sort of deal can be problematic. An exiting owner has little incentive to do the job right, and you might spend the first few months in your new home chasing down contractors to redo the work. Rather than rely on the current owners to make the changes, you might be better off asking for a price reduction and making the repairs yourself.

Posted in:General
Posted by Leonard Silvestri on May 30th, 2014 11:14 AM

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