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Imagine for a moment that you have found the perfect new home for your
family. It's in just the right
neighborhood that you've always wanted to live in and you absolutely love it!
The problem is you haven't sold the home you own now.
You could make an offer on the new home contingent on selling your
existing home first, however, most sellers are reluctant to except such an
offer. If they do accept your
offer, you will probably end up paying more for the property as a result.
Having to make a conditional offer almost always results in a major loss
of your negotiating power.
Writing a conditional offer may also cause you to become more desperate
when trying to sell your first home.
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You may accept an offer you wouldn't normally have considered just
because you don't want to lose your new dream home.
This is where bridge financing can be a lifesaver. Bridge financing allows you to use the equity on your
existing home as collateral on a new home loan.
You then put your home on the market and when it sells or at the end of
the loan term, you pay off the bridge loan.
Most lenders offer more flexible terms for bridge financing than for
standard mortgage loans. To
alleviate the financial burden of making double house payments, lenders will
design more lenient repayment terms. Some
will simply defer payment until your existing home sells. Other lenders will have
you pay only interest payments, which are much lower, and then the principal
would be due when the house is sold or at the end of the loan term.
Generally, most lenders set a maximum loan to value ratio of 75%.
Meaning you can only borrow up to 75% of the loans value, minus the
amount of the existing mortgage.
If you would like more information on bridge financing or any type of
mortgage financing, give me a call. I'm
versed in all types of loan options and would be happy to advise you.
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Think about the last time you went to buy a used car.
Were you more attracted to the dealerships that offered used car
warranties or the places that advertised 'as is.'
In real estate, just like in the used car world, 'as is' suggests
that there are defects the seller is either trying to hide or is unwilling to
fix.
When a buyer hears a home is being listed 'as is,' he is more wary of
the property. Sellers often
advertise their property this way because they think it will mean the end of
their responsibility to the buyer. This
is really not true. Sellers are
obligated, by law, to disclose of any and all known defects to a buyer even if
they say the home is 'as is.'
You'll save time, increase the chances of a sale, and probably net more
dollars if you 'merchandise' the home rather than sell it 'as is.'
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Family
Size Eggs Florentine
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4
oz. (1 cup) shredded cheddar cheese
1
(10 oz.) package frozen chopped spinach, cooked well and drained
1
(12 oz.) roll well-seasoned pork sausage
6
oz. fresh mushrooms, sliced
1/2
cup chopped green onion
2
tablespoons butter or margarine
12
eggs slightly beaten
2
cups whipping cream
4
oz. (1 cup) shredded Swiss cheese
Paprika
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Heat
oven to 350 degrees. Grease
13 x 9-inch pan. Spread
cheddar cheese in prepared pan. Spread
spinach evenly over cheese. Fry
sausage until no longer pink; drain and crumble over spinach.
Saute mushrooms and green onions in butter, sprinkle over
sausage. Beat eggs with cream; pour into pan. Top with Swiss cheese; sprinkle with Paprika.
Bake at 350 degrees for 30 - 40 minutes or until set. |
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Hash
Brown Cheesy Quiche
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24
oz. frozen hash brown patties, thawed
1/3
cup butter, melted
4
oz. shredded Monterey Jack cheese
4
oz. shredded Swiss cheese
4
oz. fresh or canned mushrooms, drained
6
oz. (1 cup) cooked diced ham
1/2
cup half and half
2
eggs
1/8
to 1/4 teaspoon seasoned salt
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1/8 to 1/4
Remove
water from potato patties by pressing between paper towels.
Press potatoes into greased 9 -inch pie pan.
Form potatoes to make a pie crust and brush with melted butter.
Bake 30 minutes at 425 degrees or until bottom of crust is brown.
Remove from oven and reduce temperature to 350 degrees.
Layer ham, mushrooms, and cheese into crust.
Beat mixture. Bake
35 - 45 minutes or until knife inserted is clean when removed.
Stand 10 minutes. Serves
6 |
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