How Much Is Too Much?
When multiple buyers want the same dream home you want, escalation clauses can make the property seem to be worth more than it is. Just remember, paying more than a homeís appraised value is not likely to be a good investment.
In a competing-offer situation, decide what your top offer is before you start negotiatingóand donít exceed that price. Overbidding could bring problems with your appraisal and the loan. If the appraisal comes in below your contract price, you have to come up with more cash or potentially lose the home and your deposit.
When Was The Last Time You Checked Your Credit Report?
If itís been a while, itís a good idea to visit www.AnnualCreditReport.com to get a free copy of your credit report. Check for incorrect information and ensure all your balances and open accounts mesh with your records. Your credit score is based on the information in your credit reports, and a high credit score will help you get the lowest interest rate on a home mortgage loan.
© Gooder Group, Gaithersburg, MD 2017. All Rights Reserved. CHR Vol. 20, No. 4. Images © iStock.
Not intended as professional tax advice. Be sure to consult your tax advisor.
This is not intended as a solicitation of another broker's client or listing.