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Determine Tax Savings: Calculate how much your
monthly Palos Verdes, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes Estates California mortgage
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Should You Rent or Buy?: Is it better to rent a
home in California or buy your own Palos Verdes, Rolling Hills Estates, Palos Verdes Estates and Rancho Palos Verdes house, ranch, luxury property, condominium, acreage, or other real
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Adjustable Rate Mortgages: Adjustable rate Palos
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Fixed or Adjustable Rate Mortgage?: Use this calculator to
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Are Balloon Mortgages For You?: Balloon mortgage calculator.
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15 vs. 30 Yr Mortgages: With a 15 year mortgage you will pay
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payment. Use this calculator to compare these two mortgage
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How Much Should Your Income Be?: What income is required
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What's Your Maximum Mortgage?:This calculator will help you
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amount. |
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Will Buying Points Save You Money?:This calculator helps you
determine if you should pay for points, or use the money to increase your down
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Mortgage Info: Your
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Real Estate Tips: Larissa's realty library of real
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Real Estate Dictionary: Complete real estate
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Real Estate Contracts >Contingency Sale
Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks.
The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.
Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.
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| Q |
Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
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