Feb
14

What is the best way to sell a house fast in order to purchase a new home?

Question: What is the best way to sell a house fast in order to purchase a new home?
Sell first house – Purchase a new house

Answer:

if you sell your home first you may need to find temporary housing until you close on the new home.  Most people try to coordinate the sale of their current home with the purchase of their new home. That may be easy or hard depending on where your home is located and obviously it’s appeal. 

Find a great Real Estate Agent (like me) that can help you identify what needs to be done to make your home marketable/desirable and price your home sell without giving it away.

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Apr
07

What is the best way to finance a 50k house purchase?

Purchase house
by wallyg

Question by Brad: What is the best way to finance a 50k house purchase?
I am thinking about buying a property for about  50k while the housing market is still low. But I only have around 20k in savings. I don’t want to use it all because most likely the property will need some repairs. So, what is the best finance strategy  How much Do I or should I use for this home purchase?
Thanks.

$50,000   Sales Price

20%  =  $10,000 Downpayment

80% = 40,000 Loan

Summary: $ 10k downpayment  $ 40k mortgage

There are other options requiring less down-payment but this would give you the best interest rate and monthly payment.

Get a home inspection before your purchase to make sure the home doesn’t need major repairs.

And last but not least get a fixed rate mortgage.

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