So....I have a lender guru friend that has a package deal for larger home purchases. As prices continue to raise, it only benefits to educate yourself on some or all of the options. Most
Renting Vs Buying A Home
I was one to think that buying a home was just a way to get into major debt and that it was better just to rent. Now that I am a real estate agent, I have discovered so much about all the benefits of buying a home. Renting a home should only be considered by those that are not yet ready financially to take up a mortgage or if they are living in a place for a short period of time. Looking at the statistics rent will continue to soar year after year. When I get a client that calls me looking for a place to rent I take the time to explain to them the benefits of home ownership. It only takes me telling them that as long as we are alive we need to live somewhere, being a house or an apartment. I tell them "why would you want to continue to pay rent which will only increase year after year, why not buy a house and pay a fixed payment for 30 years?' I also tell them that after years of paying that mortgage they are building equity on that home and if they ever want to sell that home they recover their investment. Then they realize paying rent is just a waste of money. Almost 8 out of 10 times they request more help or information on the steps to take to become a homeowner. I feel I am doing my clients a good by helping them achieve the american dream. Home ownership.
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What is an escalation clause?It's Buyer 1 saying I will pay X amount of dollars above your highest offer. Buyer 2 is at 250kBuyer 3 is 255kMeans at the end of the negotiations we are paying X