John Cain's Rhode Island Real Estate Blog

Home : Blogs : John Cain : Broker Associate : John Cain's Rhode Island Real Estate Blog : Archives March, 2007

Spring is in the air and mortgage applications are on the rise! - 03/07/07 03:18 PM

We are quickly approaching the spring season and more people are out applying for mortgages. Mortgage rates are still low with the average interest rate for a 30-year fixed-rate mortgage being 6.04 percent. According to the Mortgage Bankers Association, the MCI (Market Composite Index), which measures mortgage application volume, is … (1 comments)

You've found your new home and signed the contract...when can you move in? - 03/05/07 05:48 PM

Buying a home, however, is far more complicated than buying a car. Plus, you're not likely to take title to a home as quickly as you can drive new car off the showroom floor. How long it takes to close a sale varies from one home purchase transaction to the next. … (0 comments)

What is included in a home sale? - 03/05/07 05:45 PM

It's helpful to understand the difference between real property and personal property. Real property refers to the land and anything that is permanently attached to it, such as a house, trees, shrubs and a fence. Personal property is movable--things that are not permanently attached to real property. Furniture, clothing, art work … (0 comments)

What kind of insurance will I need when I buy a home? - 03/05/07 05:44 PM

Before a lender will issue the mortgage funds to close on a home purchase, a policy of title insurance is usually required which guarantees the lender's interest in the property. The buyer usually pays for the lender's title policy. But, the lender's policy won't protect the buyer's interest in the property. … (0 comments)

Does your home have "defects"? Of course it does! - 03/05/07 05:38 PM

Did you know that just about every home has defects?
You'll undoubtedly discover defects during your inspections. In fact, you should hope that any significant defects are uncovered before you remove your inspection contingency from the purchase contract. It's far worse to be surprised after closing by unanticipated repair expenses. Armed with … (0 comments)

What is an "as-is" sale? - 03/05/07 05:35 PM

What is an "as is" sale?It's difficult to know from an advertisement what "as is" means with respect to the sale of a residential property. It can mean that the property is being sold in its present condition and without a warranty. In other words: The seller makes no guarantees about … (0 comments)

Related Links:

All member posts for March, 2007

New members in March, 2007