Should I talk with a bank before looking at homes?
It is best practice to speak to a lending institution before starting your home search. The home buying process can be a lengthy process. A lender can help you create an action plan so your qualified for the best interest rate and upgrade your home search! Mapleridge Realty has an in house lender.
We are located on:
911-913 Meriden Road
Feel free to stop in and speak with multiple professionals in all facets of the home buying process!
What is a Comparative Market Analysis or a CMA and do I need it?
“A comparative market analysis is an examination of the prices at which similar or comparable properties in the same area recently sold. Real estate agents perform a comparative market analysis for their clients to help them determine a price to list when selling a home or a price to offer when buying a home. Since no two properties are identical, agents make adjustments for the differences between the sold properties and the one that is about to be purchased or listed to determine a fair offer or sale price. Essentially, a comparative market analysis is a less-sophisticated version of a formal, professional appraisal.” – Investopedia
Can you give out a comparative market analysis (CMA) for the area?
Yes! Have you ever wondered, ” What is my home worth?” Mapleridge Realty is happy to provide any interested seller with a free CMA. Our Competitive Market Analysis will help get your home top dollar in any real estate market in Connecticut.
What is a short sale?
“A short sale in real estate is when a financially distressed homeowner sells his or her property for less than the amount due on the mortgage. The buyer of the property is a third party (not the bank), and all proceeds from the sale go to the lender. The lender either forgives the difference or gets a deficiency judgment against the borrower requiring him or her to pay the lender all or part of the difference between the sale price and the original value of the mortgage. In some states, this difference must legally be forgiven in a short sale.
Do you handle short sales?
What is a foreclosure?
“The foreclosure process derives its legal basis from a mortgage or deed of trust contract, which gives the lender the right to use a property as collateral in case the buyer fails to uphold his or her repayment obligation.
As soon a borrower fails to make a loan or mortgage payment on time, the loan becomes delinquent. The foreclosure process begins when a borrower defaults or misses a loan or mortgage payment. At this point, a homeowner in default will be notified by the lender. Three to six months after the homeowner misses a mortgage payment, assuming the mortgage is still delinquent, and the homeowner has not made up the missed payments within a specified grace period, the lender will begin to foreclose. The further behind the borrower falls, the more difficult it becomes to catch up on payments because lenders add fees for payments that are late, often after 10 to 15 days.” – Investopedia
Ask about property
We know how complicated and confusing real estate transactions can be. Do you have a question for us? We can help!