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Monday, April 5th, 2010 at 7:35pm.192 Views, 0 Comments.
I had not realized the impact of Fannie Maes new condo guidelines until last week. I had been taking out a couple who were both doctors and their 10 month old baby. They were looking for a townhouse in the Newton/ Brookline area. The couple had a letter of preapproval. They found a townhouse that was in a cluster of six. I added a contingency to the Offer to Purchase stating that if an entity owned more than one unit, than the buyers could void the Offer to Purchase if they found it caused a problem obtaining a mortgage.
I am so happy I put in that contingency clause. Countless mortgage companies refused to give them a mortgage for that reason. Anyone who sold their mortgage to Fannie Mae refused them a mortgage. The mortgage broker I always deal with…
Monday, May 4th, 2009 at 4:38pm.230 Views, 0 Comments.
The average home inspector does a visual inspection of the.property. The inspector gives an analysis of the physical structure and the mechanical components. They explain the operation of the home to the buyer and point out any defects or areas of maintenance they find.
The structure of the building, its foundation and siding are usually the first items an inspector looks at. A good inspector will take off the cover of the electrical panel to check the wiring, check inside the heating unit; close all the doors, inspect all the plugs, and check the plumbing. They will go into the attic to see the ventilation, insulation, and check for leaks, inspect the roof with high powered binoculars, and check the chimneys. The foundation and grounds are looked at…read more
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