insurance (PMI) if you are unable to put 20 percent down on
your home.
3. BUYING:
Getting an inspection can save you money in
the long run.
Inspection fees can range from $300-$500, allowing some to
think they can save money by avoiding an inspection. In almost
all instances, this is false. Many issues in a home may go unseen
by the untrained eye. If an inspector reveals defects not disclosed
by the seller, you are able to negotiate a new offer or rescind
altogether. Without an inspection, these potentially costly issues
would ultimately fall on the buyer’s shoulders.
4. BUYING:
Protect yourself!
It’s easy to get wrapped up in signing papers and lose sight
of what you are agreeing to when buying a home. Fortunately,
contingency clauses can protect you from losing what is yours.
An example is a mortgage-financing contingency; if you lose your
job or your loan falls through, you’ll get your “earnest money”
back in full. Otherwise, you may be obligated to follow through
with purchasing a house you can no longer afford.
5. BUYING:
Enjoy the view?
It’s obvious that homes with a view can sell big. In fact, Realtor.
com states that homes with a view of the city sell the fastest,
with an average of 83 days on the market, while homes with
an ocean view sit for 98 days (mostly due to the elevated price
of oceanfront property). If you are in love with a home with a
view, be sure it is there to stay. Although you may see rolling hills
through your living room window now, who’s to say a real estate
developer won’t see that same space as the perfect opportunity to
build more homes? Check with your local municipality for land
use regulations to make sure your view will remain.
Continued on next page >
KEYSTONE OAKS
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SUMMER 2019
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