Why is it important to have ONE knowledgeable person handle your real estate buying, selling and financing in the Bay Area? Here are 10 things that drive up the cost of home ownership. These 10 things are not just mortgage or real estate related, they are related to both. You can’t buy without a mortgage and you can’t get a mortgage unless you have a property. Cash buyers are a complete different ball game. So let’s focus on the home owners buying or selling with the mortgage loan. The top 10 things that drive the cost of home ownership are:
1. Inspection Contingency 2. Loan Contingency 3. Appraisal Contingency 4. Repair Negotiations 5. Your Credit Score 6. Your Down payment 7. Occupancy of the property 8. Size of the loan 9. Time frame delays 10. Hiring the Right Agent.
In order to save money, every aspect of the real estate transaction requires investigation. Let it be getting the loan, performing inspections, buying property as-is, addressing the proper contingencies or closing on time. Every step has cost associated with it and and at the end it may translate into higher or lower cost of home ownership for the home owners. Of course one of the major factors is hiring the right agent to help you make informed and timely decisions.