Frequently asked questions home buyers and sellers:
Question: Is my earnest money automatically non-refundable when I offer on a home?
Answer: NO! When you get an offer accepted, you will be required to deposit earnest money, but it does not become non-refundable right when it is deposited. In the real estate purchase contract you have two deadlines that you would need to pass before the earnest money becomes completely non-refundable. The first is the “Due Diligence” deadline and the second is the “Financing and Appraisal Deadline”. The Due Diligence includes your inspection of the property. If for some reason the house has problems and issues that you cannot resolve with the seller, you can cancel the contract and get your earnest money back as long as you do it before the deadline. The deadline is typically 10-14 days for a residential home purchase. You can also get your earnest money back if for some reason you cannot secure the intended financing you thought you could get. You also would have to cancel this before the deadline in order to get the deposit back. The financing and appraisal deadline is usually 20-24 days.
Question: I have my 3.5% down-payment for an FHA loan. Is there anything else I need to pay for when I buy a home?
Answer: YES! When you buy a home and financing is involved you will have closing costs, in addition to the down-payment. The closing costs involve all of the lender fees such as loan origination, document preparation, lender policies, and appraisals. They also include the title company’s fees for recording the property and handling the settlement process. However, the buyer can ask the seller to offer concessions to pay for these closing costs for the buyer. For example, if the closing costs on a $200,000 totaled $5,000, the buyer can offer $200,000 but then ask the seller to pay $5,000 for them to go towards closing costs. This would eliminate the buyer having to come out of pocket for these expenses, and only have put the 3.5% down on the home.
Question: If I don’t use a buyer’s agent, can I negotiate the 3% commission that a buyer’s agent would have received off of the list price of the home?
Answer: NO! Many buyers get confused about this principle because they feel there is a commission that can be used as a negotiating point if they don’t have a realtor. They couldn’t be more wrong. What buyers fail to understand is who pays the commission, and who the commission contract is between. The seller pays the commission. This is decided BEFORE the house even hits the market and it is included in the listing agreement between SELLER and LISTING AGENT. The listing agreement is a completely separate contract between only the seller and listing agent. Typically the agreement is for 6%. The seller agrees to pay this 6% to listing agent when the house sells. The listing agent then puts the home on the market and advertises to other realtors that they will get 3% if they bring a buyer. If no other realtors are involved, the listing agent can keep the full 6% as agreed upon previously. So in essence, the seller has agreed to pay a 6% no matter if there is a buyer’s agent involved or not. The commission contract is not between buyer and seller, so the buyer cannot effectively negotiate the commission out of the purchase price. The buyer is better off being represented by a competent realtor who understands negotiations, the market, and the home buying process.
Welcome to Allure Las Vegas. There are 15 units left in this entire development. We have a range of 2 bedroom styles to a penthouse unit. This video highlights the actual project and detail work. WE have a complete package for those that want more information. Contact Utah Cribs Sales Team or our partner developer:
|979845 … 110 … res … 80000 … Active … 3864 S DITSIE DR W Magna, UT 84044
|997834 … 104 … res … 184000 … Active … 4901 S LAURA DR E Murray, UT 84107
|1011186 … 105 … res … 539000 … Active … 3255 E MCKELL CT Salt Lake City, UT 84121
|1013076 … 802 … res … 119000 … Active … 293 E 4775 S Washington Terrace, UT 84405
|1019882 … 109 … res … 205000 … Active … 4604 W PISTOL LN Herriman, UT 84096
|1022318 … 401 … res … 169000 … Active … 147 E SKYLINE DR Heber City, UT 84032
|1024165 … 107 … res … 299000 … Active … 8528 S ESCALANTE DR E Sandy, UT 84092
|1024168 … 501 … res … 169900 … Active … 1199 N 320 W American Fork, UT 84003
|947674 … 202 … res … 209000 … Active … 3690 W 400 N Layton, UT 84041
|997023 … 803 … res … 179900 … Active … 3181 W 5075 S Roy, UT 84067
|1008675 … 501 … res … 150000 … Active … 543 W 1260 N Lehi, UT 84043
|1016491 … 203 … res … 194900 … Active … 1639 W 1830 S Syracuse, UT 84075
|1016807 … 503 … res … 159900 … Active … 10475 N SAGE VISTA LN E Cedar Hills, UT 84062
|1024179 … 102 … res … 169900 … Active … 138 E HERBERT AVE Salt Lake City, UT 84111
|959836 … 503 … res … 142000 … Active … 901 W 230 N Orem, UT 84057
|985678 … 103 … res … 899000 … Active … 3607 S TANNER GARDENS Salt Lake City, UT 84109
|1002533 … 507 … res … 450000 … Active … 9041 S 4800 W Payson, UT 84651
|1003002 … 802 … res … 94000 … Active … 3901 S MADISON E Ogden, UT 84403
|1005014 … 202 … res … 245000 … Active … 2821 N 1850 E Layton, UT 84040
|1009919 … 303 … res … 160000 … Active … 42 E 100 S Coalville, UT 84017
|1014350 … 109 … res … 189900 … Active … 13893 S BLAYDE DR Herriman, UT 84096
|1018023 … 802 … res … 104000 … Active … 830 E BEL MAR DR S Ogden, UT 84403
|1021299 … 107 … res … 650000 … Active … 8483 S ROBIDOUX RD E Sandy, UT 84093
|1023109 … 203 … res … 139000 … Active … 2157 W 2175 N Clinton, UT 84015
|981615 … 1004 … res … 154900 … Active … 155 TEAL LOOP W Logan, UT 84321
|1003068 … 109 … res … 245000 … Active … 3766 W ELK PARK CT S South Jordan, UT 84095
|1006930 … 109 … res … 144900 … Active … 6227 S 5070 W West Jordan, UT 84084
|1022908 … 111 … res … 110000 … Active … 1136 N 1400 W Salt Lake City, UT 84116
|1024222 … 203 … res … 209900 … Active … 1223 S 2430 W Syracuse, UT 84075
|949812 … 801 … res … 94500 … Active … 488 E 475 N Ogden, UT 84414
MLS Number Type Status Price Address
974198 Condo Active $137,900 4718 S WOODDUCK LN E Salt Lake City, UT 84117
1000973 Condo Active $73,629 4153 S 2700 W West Valley City, UT 84119
1001078 Single Family Active $122,355 5772 S OZONE CIR W Kearns, UT 84118
1004927 Single Family Active $69,900 201 E 8800 S Sandy, UT 84070
1006114 Single Family Active $492,500 3112 S MELBOURNE ST Salt Lake City, UT 84106
1006828 Single Family Active $98,000 4532 W 5255 S Salt Lake City, UT 84118
1006941 Condo Active $88,290 3512 S 300 E Salt Lake City, UT 84115
1011924 Single Family Active $285,000 2087 E EAGLE CREST DR Draper, UT 84020
1015722 Condo Active $85,900 265 E 8880 S Sandy, UT 84070
1015878 Townhouse Active $85,900 2332 W 4240 S Salt Lake City, UT 84119
1019318 Single Family Active $65,000 7794 S OAK ST W Midvale, UT 84047
1022450 Single Family Active $214,900 2100 E HAZELWOOD WAY S Salt Lake City, UT 84121
1022617 Single Family Active $116,499 3754 S OBERLIN W West Valley City, UT 84120
1022624 Townhouse Active $145,000 10481 S SAGE VISTA WAY South Jordan, UT 84095
1022630 Single Family Active $238,000 2399 W MONT BLANC S Riverton, UT 84065
1022679 Single Family Active $225,000 2524 E LAMBOURNE LN S Salt Lake City, UT 84109
MLS Number Type Status Price Address
990936 Single Family Active $280,000 4425 S CAMILLE ST E Holladay, UT 84124
998438 Single Family Active $134,900 3417 S CATALINA Magna, UT 84044
1011077 Single Family Active $199,900 1919 E EVERGREEN S Salt Lake City, UT 84106
1011581 Single Family Active $224,780 1223 E FOREST RIDGE RD S Sandy, UT 84094
1012628 Single Family Active $187,000 15127 S MOAB WAY E Draper, UT 84020
1017721 Single Family Active $229,900 11825 S FOOLS GOLD CIR W Herriman, UT 84096
1018660 Single Family Active $119,900 6355 W 3380 S West Valley City, UT 84128
1019899 Single Family Active $150,000 335 E 11000 S Sandy, UT 84070
1019918 Single Family Active $284,900 2121 E 3900 S Salt Lake City, UT 84124
1019978 Single Family Active $80,000 3884 S DITSIE DR W Magna, UT 84044
1020049 Single Family Active $199,900 10219 S EASTDELL DR E Sandy, UT 84092
Ultra-high-end homes are on the market for tens of millions in Door County, Wis., and other unexpected spots. What are they doing there?
Homes that cost $10 million or more are expected to boast certain luxuries, and the gated compound called the Brentwood has all the amenities a trophy home should: a three-tiered screening room, billiards hall equipped with wet bar, master bathroom with a fireside Jacuzzi and 10-spigot shower, guest homes, lushly wooded surroundings, tennis court and boat dock.
NEW YORK – Mortgage rates fell for the second straight week to the lowest point in five decades. But many people either dont qualify for new mortgages or have already taken advantage of the low rates this year.As a result, the housing market and the broader economy may not benefit much from the lower rates.The average rate on a 30-year fixed mortgage dropped to 4.57 percent this week, mortgage company Freddie Mac reported Thursday. Thats down from the previous record low of 4.58 percent set last week.Its the lowest since Freddie Mac began tracking rates in 1971. The last time rates were lower was in the 1950s, when most long-term home loans lasted just 20 or 25 years.Rates have fallen over the past two months. Investors, concerned with the European debt crisis, have poured money into the safety of Treasury bonds. Treasury yields have fallen and so have mortgage rates, which tend to track yields on long-term Treasurys.However, low rates have yet to fuel home sales. The housing market has slowed since federal tax credits for homebuyers expired at the end of April. And the latest decline in mortgage rates is unlikely to boost the market.
Crazy, I can’t believe interest rates are this low! I am eating my own words, yes I was wrong. I thought for sure they couldn’t last this long. Now I am still under the impression, that it is not good as a whole for our economy to keep them to low, however for the average consumer this is great. Now obviously this doesn’t mean go out and by any old house. But, it does mean if you find a deal take advantage of it. Interest rates are at a all time low. What will Interest Rates do from here on into the future? Well apparently your guess is as good as mine. But. rest assured I will have my money on them going up soon.
“Most of the homes we looked at ended up being short sales,” she said. Not surprisingly, the couple ended up buying their dream last month, a 6,000-square-foot home with all the bells and whistles, via a short sale at a sizeable discount in South Jordan.
In Salt Lake County, for example, nearly one-quarter of all residential listings are short sales, which involve properties being offered by those who owe more than their properties are worth, known as being under water.
Interesting times, when I hear comment like above on a daily basis. All I have to say is don’t always beleive it. There are some great deals out there, and the best thing to do it get a hold of a true professional that knows exactly what they are doing. They will help point you in the right direction. To often these articles don’t pain the entire picture..
