first time buyers: Tredyffrin Easttown Real Estate FAQ What happens to my deposit?
- 06/16/17 11:03 AM
Tredyffrin Easttown Real Estate
What happens to my deposit and What is an Escrow Account?
When you have never bought a house there are many questions which are in your head, but you don't want to ask. I have found over time that many buyers do not know what happens to their deposit. Some believe it goes into the Realtor's holiday fund account, others to the seller.
Watch our video and see how Nick Vandekar, Tredyffrin Easttown Realtor with Long & Foster Real Estate Inc., explains this and also what is an escrow account?
Highlights of this video:
In Pennsylvania there is a first deposit with … (5 comments)
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first time buyers: Settled 206 Oxford Hill Lane, Havertown, PA 19083
- 04/26/17 02:37 PM
New owners settled on 206 Oxford hill Lane in Havertown PA today. After a short showing period and multiple offers our buyers offer was accepted and today they took possession of the keys and ownership of their new home.
First time buyer, this young lady I saw growing up when we first moved to America, she was our neighbor and I had the privilege of guiding her through the home buying process. I wish all my clients were as mature in the house hunting process as she has been.
She was having to consider the children of her boyfriend and what their needs were as well as … (6 comments)
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first time buyers: Frequently asked question: How Long is the real estate buying process?
- 01/07/15 04:58 AM
Frequently Asked Question: How long is the real estate buying process?
Many home buyers ask this question and it really depends on you the buyer. I have had one buyer the second home I showed them was it, they did not want to look any further and I had to cancel the rest of the afternoon's appointments so we could go write an agreement of sale. I have also had other buyers who had to get to now the area and then the types of homes we have for sale in each before they felt comfortable making an offer.
How to … (0 comments)
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first time buyers: Why you need a little patience if you are buying a home.
- 12/05/13 04:59 AM
When I was young, I could get a little excited, and was often told I needed to be patient. Fishing was not a sport for me, sitting on a river bank watching a line, no way. Soccer, rugby and squash all fast moving sports was what I liked. Journeys, birthdays, holidays, all were reasons for patience I was told. But, I am finding that I am telling my clients who are trying to buy homes today that they need to be a little patient.
Depending where and at what price you are looking to buy there may very well be a … (2 comments)
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first time buyers: 12 Questions to ask your potential buyers agent?
- 02/28/13 05:35 AM
Many buyers today are missing the benefits of working with a professional real estate agent, preferring to search the internet and visit Open Houses to see homes on their own. Possibly there is a mis-conception that using the listing agent will save them money because of reduced commissions when they find the home of their dreams and make an offer. However, the listing contract signed by the seller long before these buyers appeared specifies what commissions will be paid even when the listing agent is used in a dual agency situation and it generally saves the buyer nothing.
Before buyer agency, some brokerages … (5 comments)
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first time buyers: Buying a Main Line home
- 02/27/13 06:18 AM
Buying your Main Line home begins with deciding first your budget and then in which township you want to live. The Pihladelphia Main Line begins in Lower Merion Township, heads west and north through Radnor, Tredyffrin and Easttown Townships. Not so long ago, many would say it ended in Wayne, then it became Paoli, nowadays many people consider Downingtown the end of the Main Line.
Towns along the Main Line include Merion Station, Bala Cynwyd, Gladwynne, Haverford, Bryn Mawr, Rosemont, Villanova, Wayne, Devon, Berwyn, Paoli Malvern, Frazer, Exton and Downingtown.
There are many choices. Within each township people are loyal to … (1 comments)
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first time buyers: First time Main Line Real Estate buyers achieve their first purchase
- 08/15/12 04:46 AM
Congratulations to Dasa and Daniel on their first Main Line Real Estate purchase. We settled today using a VA loan on a town home, they selected after touring several Main Line single family homes and town homes. It is always satisfying to help Veterans with a purchase of a home especially in this case when it is the first home they buy along the Main Line.
Their VA loan was provided through Gateway Funding, with a seller assist and lender credit, they were able to put very little money down to buy their first home. VA loans, are a wonderful … (0 comments)
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first time buyers: First time buyers find success with a VA loan in Exton Station
- 05/21/12 07:12 AM
First time buyers Jason and Dana outside their new home they purchased and settled on this last Friday in Exton Station. Jason a Navy Veteran used a VA loan, provided through Prosperity Mortgage to purchase the home. VA loans have many benefits for buyers who qualify, allowing them to obtain a 100% loan, with no mortgage insurance premiums, and if the Veteran has any disability rating even as low as 10% the funding fee can be waived which is a significant saving. It also allows some seller assistance as well which can be helpful for young buyers purchasing their first … (2 comments)
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first time buyers: Consumers don't think they can qualify for a mortgage
- 10/14/11 01:41 AM
Our broker posted the following link on our Facebook page about Consumers remain skittish on obtaining mortgages. Many young buyers today don't feel that they can afford a mortgage, not realizing with the low rates what they can afford, even if they have some debt as the story that follows bears witness.
I recently had a rental listing and had a young man visit to see the property, whilst he applied unfortunately the landlord went with another couple who had seen it previously. But whilst he was looking at the apartment he asked, would the landlord consider a lease purchase.
Interesting … (1 comments)
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first time buyers: What you need to know about that deposit before you buy a home!
- 08/17/11 01:52 AM
I was chatting with one of the mortgage providers I know and we got to talking about earnest money deposits when you are buying a home.
Here is just a couple tips to keep in mind when putting down that Earnest Money Deposits that will help the mortgage get processed efficiently:
Personal Checks: make a copy of the front of the personal check and give to your mortgage provder; this is helpful to identify the source of where the deposits are coming from, but the front of the check alone will not satisfy underwriting. The mortgage provider will always need the cancelled check ( … (0 comments)
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first time buyers: A book and a house what they have in common!
- 07/15/11 08:22 AM
I love to read, all sorts of books, and yes I like a book, the tactile feel of it, historical novels, mysteries, business books and thrillers. When I read I get engrossed, I can see the story right before me, usually in color, I place faces on the characters and the story becomes like a movie as I read. Trudy accuses me of getting lost in a book, she can be talking to me and I just don't hear a thing I am so engrossed.
Recently, having read several great business books I took a turn to some lighter reading, … (0 comments)
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first time buyers: Client Testimonial
- 01/08/11 02:33 AM
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first time buyers: Time is running out...
- 10/10/09 03:17 AM
Time is running out rapidly if you want to take advantage of the First Time buyers Tax Credit. All our mortgage providers have been telling and warning us to get our buyers under contract by this week to make sure that their settlements can be completed no later than November 30th.
You cannot afford delays with settlement to get the credit. You must settle on or before November 30th. It is a little misleading when people talk about December 1st as that is too late and you will not qualify for the credit.
Will it be extended? Who knows, there … (2 comments)
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first time buyers: Time flies to get the First Time Buyer Credit!
- 07/30/09 03:29 AM
Time is flying fast to obtain the First Time Buyer Credit. Whilst there is plenty of inventory many buyers are being demanding making low offers and asking for seller assists or not making any choice, overwhelmed at the selection of homes on the market.
But, if you think it through you have to act soon. Most settlements take 45 days to settle from offers being made. Yes they canbe done more quickly but with the recent problems with appraisers, and mortgage underwriters taking their time to give mortgage commitments you need to act soon.
The credit disappears unless renewed by congress November … (0 comments)
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first time buyers: Is this the right time to buy for you?
- 03/27/09 03:00 AM
There is a lot of comments by real estate agents that this is the time to buy but is that right for you? Really it all depends on your situation and whilst prices have dropped, and interest rates are at historic lows if you don't have some funds saved and a good credit score it is not the right time.
Even FHA loans require some money 3.5% as your share of the purchase and whilst you can ask for a sellers assist for closing costs not all sellers in this market can give it to you. So you do need some funds … (0 comments)
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first time buyers: Getting ready to buy a home.
- 10/02/08 04:42 AM
Buying a home is one of the largest financial purchases many of us will make in our lives. Even during this present situation there are things you can be doing to prepare yourself to buy a home.
Lenders at the moment, have tightened credit, and even if there is a rescue plan it is likely that some if not all of these lenders are going to working with much stricter guidelines. So you need to start doing several things to get ready.
America is a society that loves to spend money, but you need to use some restraint and start saving … (1 comments)
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first time buyers: Can a Reverse Mortgage Help your grand child buy their first home?
- 06/26/08 01:50 AM
I asked Eric May and Donald Geragi of Prosperity Mortgage who recently spoke to us at Long & Foster in Devon to share some information about reverse mortgages, how they work and who can use them. This is a great way for seniors to provide income for themselves or to help a grandchild purchase their first home using the equity they have built up in their own homes.
Reverse Mortgage loans are managed, controlled and backed by the federal government, offering total safety and security to senior homeowners.
The home must be designated as the primary residence as the benefits of … (2 comments)
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Tredyffrin Easttown Real Estate
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