Top 10 Real Estate Myths - Poor or No Credit

Top 10 Real Estate Myths
Poor or No Credit

Top 10 Real Estate Myths

Sponsored By: Charlottesville Homes For Sale

1. One way to get around poor, or no, credit - have your parents buy with a home loan and then just assume their mortgage after closing

2. Three bedroom condos actually hold their value better than similar sized single family homes

3. There is no difference in value appeciation between a detached and attached home

4. Certain amenities in a home always raise the value, such as fireplaces, in-ground pools, 1st floor masters, and playsets

5. Always have your Realtor put "To Be Determined (TBD)" for a closing date on a Purchase Contract

Sponsored By: Charlottesville Homes For Sale

6.  In Virginia, when purchasing an REO be prepared to pay some extra fees, like delinquent HOA fees, past due assessments, and utilities

7.  Choosing where your family home is according to school district is not so important anymore since in Virginia you can choose to send your child anywhere within same county you reside with a simple letter from your favorite teacher

8.  A new, slightly risky way to almost instantly double your home purchasing power in Virginia, is to put up to 75% of your downpayment monies into purchasing lottery tickets using the address of the property as lucky numbers (translating letters into numbers - understanding the letter 'Z' corresponds to the number 0)

9.  A great way to determine today's proper value in today's market, is to rely on your parents who've probably bought homes in the past during similar economic times

10.  A strange but true fact: In the State of Virginia, it is illegal for unmarried couples to buy a home with more than 2 stories

Sponsored By: Charlottesville Homes For Sale

Think you know which are Fact and which are Fantasy?

Give me a call, text, or e-mail and we can discuss these and many more of the relevant issues that are bound to come up during your home purchase in the Charlottesville area!

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Provided courtesy of Fulton W. Gaylord
Keller Williams Realty – Charlottesville

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