Saturday, October 27, 2007

Raleigh Mortgage Options

Situated in north central North Carolina, Raleigh is the capital of the Tarheel state and is a booming city that has witnessed many changes over the past several decades. Gone are the days when Raleigh was little more than a sleepy, southern city in a chiefly agricultural state. Today, Raleigh has more than 320,000 residents and is part of a exploding metropolitan area that 1.3 million residents now call home. Duke, UNC, and NC State are three highly regarded universities serving the area and the Research Triangle Park is world renowned for its many technological innovations. For good reason, thousands of families are relocating to the Raleigh area every month; you can too and a Raleigh mortgage can give you what you need to successfully make your move.

Purchasing a house in Raleigh is so much like buying a home in any recognized American city: you make a down payment, get in touch with many lenders for competing bids, and you select a lender based on the information given. Your Raleigh mortgage is ready and your move is certain, right? Well, it isnt always that simple! Lets examine some web sites that can give you useful and significant information as you shop for a mortgage:

1. Bankrate.com this site lists mortgage rates from all across the nation. Narrow down your search to Raleigh and local mortgage rates will turn up in your search results. The rate given should be a good point of reference for you as contact lenders.

2. Interest.com works much the same way as Bankrate; enter your Raleigh mortgage information and the rate will emerge.

Other useful sites of note include:

3. ChaseHomeMortgage.com

4. LendingTree.com

5. Amerisave.com

6. ING Direct.com

While the list isnt comprehensive, it is a good beginning point. Additionally, you can check your local phone book for a record of Raleigh mortgage companies. Sometimes smaller, local companies are more willing to help out, particularly if your have other circumstances present, including if you are self employed, possess bad credit, have suffered a drop in income, or have experienced other important changes.

Your Raleigh residence is waiting for you get in touch with a Raleigh mortgage broker right now to learn about your mortgage choices.

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Selling Your Home? A Warning About Attachments

Before you list you home for sale, determine what you don't want to leave behind.

Our friends sold their home for full price and moved out a few days before closing.

The next day they received an angry call from the selling agent telling them that they had to bring a mirror back before the sale would close. When the home buyers did their final walk through, they refused to make their down payment because a large mirror had been taken down.

This mirror, an antique family heirloom, was never considered by the sellers as part of the sale. The seller refused to give her grandmother's mirror back.

However, their sales contract, a standard Home Purchase Contract with Terms and Conditions, included all attachments. The mirror was considered by the buyers and their agent as part of the sale. The mirror did not hang like a painting on a nail. The heavy mirror had been screwed into the wall with the screw heads covered with fancy wooden circles cut to match the wood frame.

The buyers refused to budge. Our friends refused to budge protesting that their listing agent knew the mirror had belonged to the seller's grandmother. (Their agent was a family member.) The sellers pointed out that their agent should have told them that the mirror was considered "attached." After three days of quibbling and negotiations, the listing agent agreed to forfeit $3,000 of her commission and the sellers dropped the price by $2,000.

Decide what goes to your next home and what you agree to leave behind, before you offer your home for sale. Take down any attachments that you don't want to part with, such as any item screwed into a wall or a light fixture permanently wired. What a home buyer doesn't see, they won't expect to buy with your home.

Copyright 2005 Jeanette J. Fisher. All rights reserved.

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