Many lenders no longer require termite letters as a part of the loan document requirement and with the 2007 GAR Purchase and Sale Agreement changes, many Buyers will now obtain their own termite letters. Remember, however, as a Buyer, you should always consult with the mortgage lender at the time of application to determine whether a [...]
Archive for December, 2007
Termite Letter – Is it Needed? YES!
December 11, 2007PRE-FORECLOSURES – Short Sale Situation
December 11, 2007Given the number of sub-prime loans, 100% financing, and adjustable rates, an increasing number of homeowners do not have enough equity in their homes to sell them and pay their existing mortgage in full. It is likely to be confronted either with Buyers purchasing property from a homeowner in trouble or with Sellers trying to [...]
Plat vs. Survey – What’s the Difference?
December 11, 2007 “Plat” and “Survey” are two terms that are often used interchangeablably in real estate. However there are differences between the two. Listed below are the differences and similarities between plats and surveys.
What they have in common:
They are both a depiction of a tract of land
They can show a very small tract or a very [...]
