Spend More Time on the Financing! - 05/17/12 03:28 PM
Financing has become the make or break factor for many real estate transactions.
As important as it is to the overall purchase of a home we are seeing less time spent on the actual specifics of financing.
Today we had a one hour class taught by one of our mortgage brokers. She wanted to review a Pre-App Worksheet, HUD form, and various funding fees for conventional, USDA, FHA, and VA mortgages.
 
Did you know?
·         On an FHA loan that the maximum contribution from a seller, for closing cost, is 6% of the purchase price?
·         A lender can pay … (0 comments)

These are not your mother's negotiations - 05/14/12 06:03 PM
Everything is negotiable?
The traditional way to negotiate involved going back and forth until both sides agreed on the terms. It was done void of emotion with both sides trying to feel like they have won.
Real estate is supposed to be no different. Or is it?
For the month past few months The Wells Team has been involved in numerous negotiations. Some turned out successful and others no so successful.
 
Here is what all of them had in common:
Emotion came into play from both buyers and sellers Buyers would not move off of their initial offer even after … (0 comments)