What are closing costs? Farmington Hills real estate termsWhat are closing costs? Farmington Hills real estate terms. Closing costs are the expenses, over and above the price of the property, that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee, property taxes, charges for the title insurance and escrow costs, appraisal fees, etc. Closing costs will vary according to the are country and the lenders used. Today, normal closing costs range between 2000 and 2500 dollars. For more information on Farmington Hills Real Estate terms, or if you are interested in buying a Farmington Hills home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Search for Farmington Hills homes Farmington Hills home information Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/0058A3 Posted on Jan 29, 2012 @ 6:22 am by russ.ravary - View Profile
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What does biweekly payment mortgage mean? Farmington Hills real estate termsWhat does biweekly payment mortgage mean? Farmington Hills real estate terms. Biweekly payment mortgageis a plan to reduce the debt every two weeks (instead of the standard monthly payment schedule). The 26 (or possibly 27) biweekly payments are each equal to one half of the monthly payment required if the loan were a standard 30 year fixed rate mortgage. The result for the borrower is a substantial savings in interest. This is a great way to pay down your mortgage quicker. By doing this on a 30 year mortgage, you can cut down to about 22 years. On a 15 year mortgage you can cut it down to about 11 1/2 years. Basically what you are doing is making one extra payment a year. For more information on Farmington Hills Real Estate terms, or if you are interested in buying a Farmington Hills home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Search for Farmington Hills homes Farmington Hills home information Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/005899 Posted on Jan 20, 2012 @ 7:38 am by russ.ravary - View Profile
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What does appraised value mean? Farmington Hills real estate termsWhat does appraised value mean? Farmington Hills real estate terms. Appraised value is an opinion of a property's fair market value, based on an appraiser's knowledge, experience and analysis of the property. Appraised value is not the same as what you could sell it for. It may be higher or lower then the fair market value. For more information on Farmington Hills Real Estate terms, or if you are interested in buying a Farmington Hills home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Search for Farmington Hills homes Farmington Hills home information Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/005890 Posted on Jan 11, 2012 @ 10:06 am by russ.ravary - View Profile
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What does adjustable rate mortgage mean? Farmington Hills real estate termsWhat does adjustable rate mortgage mean? Farmington Hills real estate terms. Adjustable rate mortgage (ARM) is a mortgage in which the interest rate is adjusted periodically based on a preselected index. Simply put if you are a first time home buyer, you should not get an adjustable rate mortgage. This is very dangerous mortgage for a first time home buyer. This is what has caused so many home owners to lose their homes during the mortgage meltdown. They could not afford the new interest rates when they went up. For more information on Farmington Hills Real Estate terms, or if you are interested in buying a Farmington Hills home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Search for Farmington Hills homes Farmington Hills home information Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/005887 Posted on Jan 02, 2012 @ 9:10 am by russ.ravary - View Profile
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Closing Date - Farmington home seller adviceClosing Date - Farmington home seller advice I just had this question asked by one of my Farmington home sellers. I hope the buyer won't mind that the cars are in the garage a few days after we close. WHAT? Of course he will mind! He owns the house now unless you pay him rent!!! When you sell the house and close on it you have no right to have ANYTHING in the home. The home has to be broom clean and everything you own has to be out of the property. The new buyer owns the house now. He has legal obligation to keep anything of yours in the house. In fact if he did it can create an issue for him. What happens if the cars were stolen or damaged? You would want him to fix the damage rignt? You would want the cars replaced right? That why you have to have your personal belongings out of the house. Simply it's not your house and you have no rights to it unless you pay him to rent it. This Farmington home seller advice should keep you out of trouble and help you think about the situation from the buyers side. If you are looking at selling your Farmington Hills home, please give me a call or email me at yesmyrealtor@gmail.com Search for Farmington Hills homes Farmington Hills home information Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/0058B3 Posted on Nov 30, 2011 @ 7:20 pm by russ.ravary - View Profile
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