No, there is nit much of a difference in those 2 scenarios. The seller would walk away with the same amount of funds and in the end (when the loan is paid off) you would be out of pocket roughly the same amount of money. The seller paying the closing costs simply delays that happening. However, down payments can no longer be paid for by the sellers so you would have to verify and come to close with 3.5% of the purchase price in funds.
If you have any questions, feel free to contact me.
The county assessors office should be able to tell you what taxes were last year. Also, a Realtor can tell what taxes were on any given property for the previous year. There will also be mortgage insurance depending on how much will be put as a down payment on the purchase of a home. Any further questions just give me a call. I hope that this helps.... more
I believe that as long as you keep on paying your mortgage you are not in any danger of losing your home. Unfortunately, your daughter is still responsible for the mortgage because she signed the note and the trust deed as the borrower.
If your daughter wanted to purchase another home, she could prove to the new lender that you are making all your payments on your home by showing copies of your checks.
My advise would be to consult with a mortgage broker to see if you have any other alternative and if my suggestion above still holds true in todays difficult mortgage market.... more
There are several different ways to increase a property's value. In no specific order, you could: build an addition to your house, thereby increasing its size; finish the basement, thereby increasing its livable square footage; change out the exterior materials (like from wood or vinyl siding to stucco or brick, etc.); remodel certain rooms in the house (like especially the kitchen and master bedroom/bathroom); or even just update the house in general (like new carpet/tile/hardwood floors, paint, appliances, lighting and plumbing fixtures, etc.). Any of those items would increase a home's value. (If you're selling, home staging could temporarily increase a home's "perceived" value as well.)
If you need more specific details, don't hesitate to call me. 801-718-3090. I'm a local real estate broker and builder and have numerous resources to assist you in any of these undertakings!... more