“I’ve just had an offer accepted on a home. If my inspector finds things like a leaky roof or the heater doesn’t work, does the seller have to fix the items?”
***ANSWER:
Nope.
The seller is only LEGALLY required to have:
1. Operative smoke detectors in the “sleeping areas”.
2. Earthquake straps on the water heater
3. Low flow toilets…unless […]
“I’ve heard the terms ‘soft prepay’ and ‘hard prepay’. What do they mean?”
***ANSWER:
As you may know, “prepay” refers to a prepayment penalty that is charged when a home loan is paid off early. Most home loans don’t have prepayment penalties, but some do. For those that do, the penalties are usually for the first 1-5 […]
“I bought a condo with a cracked slab 5 years ago. We filled it at that time and have not had a problem with anything that we can see since then. I had put in wood floors and new carpet back then and have not looked under either since. Do we have disclose this to […]
“We rent right now and can barely afford a house, so my wife and I were thinking condo. But I don’t want to pay those monthly association fees. They’re a waste of money. Are there any condos without fees?”
***ANSWER:
Sorry. With rare exception, buying a condo means you’ll be paying those pesky “HOA fees.” But here’s […]
“I recently had a realtor tell me that running my credit multiple times for the purposes of obtaining a home loan/mortgage would not take points off my credit score. Is this true? Is this different than having my credit run several times for, say, an auto loan?”
***ANSWER:
That Realtor was correct. To get you the most […]