Monthly Archives: October 2009

Mortgage Penalties and Selling Real Estate – Check with your Lender before Selling or be Prepared to Pay!

View on ExposureRoom Don't Let Mortgage Penalties Bite you in the Backside - Check with your Lender Before you List! A lot of people assume that when they sell a property they can pay off the principal of their mortgage with the sale proceeds and be done with their lender. This is not the case. A mortgage is a legally binding contract between you and your lender for you to pay them a stream of principal and interest payments for the term of the mortgage. The lender will have something in the small print of the mortgage they can get… Find out more

Subject Free Offers in Real Estate – Strong & Effective, but SCARY in the Wrong Hands!

Subject Free Offers are Powerful and Effective, but in Scary in the Wrong Hands! With the resurgence of the Vancouver real estate market, Subject Free Offers are making a comeback along with Multiple Offer Situations. The downside is that without preparation and professional advice, mishandled Subject Free offers can quickly result in lawyers getting involved making it expensive and painful for all. What is a Subject Free Offer? A Subject Free Offer is an offer prepared by the Buyer that does not allow the Buyer to walk away for ANY reason if the  Seller accepts. If the Buyer cannot get… Find out more

First Time Home Buyer Safety – Offers Subject to Financing – What, Why, and How!

What is an Offer that is Subject to Financing? This is an Offer to buy a property that is "Subject To" or conditional upon the Buyer getting a mortgage within a set period of time, usually one week. In plain language, the Buyer and Seller agree to give the Buyer  a week to get a mortgage and if the Buyer cannot get a mortgage in that time, the Buyer can walk away from the deal with nothing lost. Why do we make offers Subject to Financing? Safety! If a Buyer presents an offer to a Seller without a Subject to… Find out more