The Bellevue real estate market is hot! While Bellevue has always enjoyed a healthier housing market compared to other cities on Seattle’s Eastside, if you’re a Bellevue home buyer today looking in the most common price ranges, you have no choice - you MUST be fully prepared. It’s best to assume you will encounter multiple-offer situations on almost any home in reasonable condition, and plan accordingly. Updated Bellevue Homes in Very High Demand There's a … [Read more...]
You often read about what to do before applying for a mortgage to buy a home. However, despite all the attention paid to the housing market and restrictive lending standards over the past few years, it is still quite common for home-buyers to be unaware of what “NOT” to do before, or during their application for a mortgage. Let's discuss some of the critical and potentially costly mistakes home buyers make when applying for a mortgage to buy a home. Don’t Change … [Read more...]
Wanting to buy a home or condo in Bellevue, or anywhere on Seattle's Eastside as a first time home buyer? Take notice... It can happen when you least expect it: an opportunity unexpectedly opens up - and you suddenly realize that the time to become a homeowner is here! It may happen when the landlord of the Bellevue home you've been renting suddenly decides it's time to sell. Or, during a search for a rental, you happen upon a new local listing that's such a bargain … [Read more...]
How do we count the number of days for contingencies in home purchase & sale contracts? It’s not too terribly complicated to answer, but misunderstandings regarding the “Computation of Time” in real estate contracts are unfortunately very common. While all contract contingencies are important, arguably, the most critical contingency in any real estate purchase and sale contract is the Financing Contingency, which is typically 20-30 days. All parties, … [Read more...]
A Financing Contingency, in basic terms, is a clause in the home Purchase & Sale Agreement which allows a homebuyer the time necessary to apply for, and obtain financing for a new home purchase. Not all home financing contingencies are created equal however. Depending on the region and local real estate customs, such contingencies can vary greatly, particularly when non-MLS forms or addenda are used, or other local or state promulgated forms are not used - for … [Read more...]
Before applying for a mortgage, if you want to secure the best deal when buying a home and ensure the most pleasant experience, there are certain things you need to do. In the first installment of our mortgage planning series, you learned about the importance of paying your bills on time, avoiding larger purchase, paying off high interest debt, saving for closing costs and determining what you need in a home. It is now time to consider the remaining five ducks you need … [Read more...]
