Golden Fixed or Adjustable?
The fixed rate mortgages offer Golden real estate buyers peace of mind with predictable monthly payments. Taxes may go up but the principle and interest will remain fixed throughout the life of the loan. When interest rates were rising rapidly in the late 1970s, lenders came up with ARMs or Adjustable Rate Mortgages. With an ARM, the borrower assumes the risk of rising interest rates. Both have their advantages and disadvantages.
Golden Real Estate Contract Options
Finally, the Exclusive Agency Listing allows an agent to list and market your Golden real estate. The agent will earn a commission if he/she or any other agent sells the property but not if the homeowner finds his/her own buyer. Very few if any agents are willing to agree to spend time, money and know-how on promoting a home without the guarantee of a commission when the home sells.
Many people imagine that the agent who lists their home begins an immediate search for likely homebuyers for Golden but this is not always the case. The real skill of a good listing agent is her/his ability to market your home to other agents. Usually as soon as your listing agent returns to the office, your home is entered into the MLS and is now available to hundreds, maybe thousands of other agents.
Buying a Golden Fixer-Upper
Some Golden investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Golden fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.
Best to know the extent of the job and whether or not you are up to it before you buy. Some Golden fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Golden homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.
Buying a Golden Fixer-Upper
Finding the right Golden fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.
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Taking Title to Your Golden
There are so many details to consider when purchasing your Golden and mounds of legal paperwork to read that sometimes it seems overwhelming. Some important decision can be made ahead of time so you know what is in your best interests when the time comes. For example, right at the end when the paperwork is being signed you may be asked how you want to take title. This is an important decision that should not be rushed but often is. Knowing some of the common forms of Golden ownership ahead of time is one way to protect yourself.
A single Golden buyer will usually want to take title in his/her name alone. Husbands and wives usually own property through a form of joint ownership such as joint tenancy. Unrelated individuals can take title in a limited partnership arrangement.
A large part of the appeal of the real estate market in any area is the architecture or the style of the homes themselves. The appeal of Golden is its appropriateness to the region in terms of style, history and weather conditions.