#remaxglossary

[russellembruncan]

Posted @withregram • @remaxaffiliates Not sure where a property begins or ends? There's a way to find out. A LAND SURVEY is used to identity the property lines. This isn't required to purchase a home, but it is recommended. And it maybe required by the mortgage lender to clarify where the property owner has jurisdiction. Understanding your property lines can help you avoid any potential issues that might pop up with your neighbors if you decide to make any changes. #TerminologyTuesday #remaxglossary #YourUnfairAdvantage #remaxaffiliates https://www.instagram.com/p/CT0kPyYFq5b/?utm_medium=tumblr

[russellembruncan]

Posted @withregram • @remaxaffiliates Another term you need to know! BRIDGE FINANCING. So what is it? Bridge Financing is a short-term loan designed to “bridge” the gap for homebuyers who have purchased their new home before selling their existing home. This type of financing is common in a seller’s market, allowing homebuyers to purchase without having to sell first. #TerminologyTuesday #remaxglossary #YourUnfairAdvantage https://www.instagram.com/p/CRRoRsVlNal/?utm_medium=tumblr

[russellembruncan]

Posted @withregram • @remaxaffiliates What is a Down Payment? A DOWN PAYMENT is the amount of money paid-up front for a home, in order to secure a mortgage. In Canada, the minimum down payment is 5% of the home’s total purchase price. Down payments less than 20% of a home’s purchase price require mortgage loan insurance. The selling price, minus the deposit and down payment, is the amount of the mortgage loan. #TerminologyTuesday #remaxglossary #YourUnfairAdvantage #remaxaffiliates https://www.instagram.com/p/CQKTV_flvDz/?utm_medium=tumblr