Category: Home Buying
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Should we have a fifteen-year loan versus a 30-year term?
Reader Question: Choosing a fifteen-year loan versus a 30-year term is advice we often see from financial experts or mortgage lenders. We also find information about a home buyer saving until they can make a twenty percent down payment when they buy a home. The experts that proffer this advice confuse us, as we are not…
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How to pick the best real estate agent from three finalists
Reader Question: We want to pick the best real estate agent from three finalists. Each agent chose three different comparables, and there is a thirty percent difference between the best price and lowest price when including all nine comparables. This difference equates to over $60,000. How do we know which estimate is the most accurate comparison…
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Thirteen tasks to check a well and septic system
Reader Question: We are home buyers who want to check a well and septic system. We know nothing about them. We have city sewer and water now, so we have no responsibility beyond using them. Are there different methods for due diligence, plus care and maintenance after the purchase? Can you help us get…
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Should I be paying cash for a home?
Reader Question: Are there any benefits to paying cash for a home worth $200,000? Monty’s Answer: This is an issue to which you would receive different answers depending on the disposition of the person answering the question. Leverage is the gold standard for most real estate investors. Many non-investors believe their home is not an…
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Anxiety plagues first-time home buyers
Reader Question: We are looking for homes we can afford through online real estate websites. We are not married. We have extreme anxiety about actually contacting real estate agents and starting to look “for real.” ➢ I have money to buy or down payment – she doesn’t. We could afford up to $600,000. I have…
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Homebuyer questions the value of a home inspection
Reader Question: We don’t see the value of a home inspection. We are going to be buying another home soon. In the house we sold, the buyer’s inspector missed some items of which we were unaware. It created a few problems after they moved in, but we worked with them, and all turned out well.…
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Seller refuses to sign a mutual release
Reader Question: We signed a contract on a home. In reviewing disclosures, everything seemed ok. We found out a week later that the city water and sewer was confirmed to run under the house and through the middle of the back yard and also services three properties to the south. We also learned the water…
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Four tips to find a new church location
Reader Question: How do we find a new church location? We have a long-standing fellowship group in a large established congregation. We have decided to break away and start a new congregation. Monty’s Answer: There are a variety of ways you can go about finding a new home for your flock. While there are often…
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Four steps to handle a broken trust
Reader Question: We have a broken trust. We bought our first home last month. Our inspector found several problems, one of which was a rodent problem in our attic. We trusted our agent when she told us the rodent problem was taken care of when they fixed the roof. We did not know what to look…
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Seven answers to a home inspector’s question
Reader Question: Here is a home inspector’s question. Customers tell me I am a good inspector. I always want to improve my methods when I can. Your answer to this question may help focus my efforts. What are the main questions you get from consumers about home inspectors? Monty’s Answer: Incorporating the continuous improvement philosophy into…
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Is the home sellers offer real?
Reader Question: An acquaintance who lives in our neighborhood proposed to sell us her home. We have been in the house a few times for neighborhood parties. She bought a home on the west coast and now wants a fast sale. She is in her 50s, divorced for some years, and has always been cordial…
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Five steps unmarried home buyers should take
Reader Question: I am considering buying a home with a co-worker. We both have good jobs, and employment has been stable. The idea of deductions for interest and real estate taxes is appealing. The big appeal is that by buying a home together, our monthly housing expense will decrease dramatically because we currently do not…
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Is a dome home a risky project?
Reader Question: My wife and I are considering building a dome home on an acre we own free and clear. The estimated cost of construction would be around $100,000. All the other homes near us are aging double-wide (1990’s) manufactured homes. My research indicates we would be the only one within 100 miles. We are…
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Real estate agent hassles home inspector
Reader Question: I am a home inspector. I work with an agent from whom I always get agent pressure to “take it easy.” I refuse to lower my standards, but I’m concerned about him finding a replacement. How would you suggest I approach this? Monty’s Answer: The situation you describe may be a very delicate…
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Ten questions to ask when hiring a home inspector
Reader Question: We will looking to buy a home in the near future. When thinking about hiring a home inspector, how do we pick a quality one? Randy and Mary Ann G. Monty’s Answer: Now is a good time to be thinking about hiring a home inspector. Because a home purchase or sale is likely your…