Alabama’s Buyer Beware Law for Home Buyers

Collier Swecker video blogs about Alabama’s Caveat Emptor Law (aka “Buyer Beware”) and important issues faced by home buyers and sellers in the State of Alabama. Alabama is one of the few Caveat Emptor states in the United States and the burden is generally on home buyers to inspect and find any problems in a home prior to purchasing the home and a home seller is under no obligation to affirmatively disclose any defect or problem with a home unless the defect is “latent”. A latent defect is a problem or serious issue affecting health and safety of a home that could not have been discovered by a reasonably thorough inspection prior to a sale. If you have any questions or comments about Alabama’s Caveat Emptor Law, email me at Collier@MegaAgents.com or my website at www.MegaAgents.com.

FHA Loans and VA Loans Cost Home Buyers

Collier Swecker video blogs about how FHA home loans and VA home loan programs for home buyers often sound great because of little or no down payment but what home buyers do not realize is that FHA loans and VA loans have upfront fees and costs that exceed 2% of the total borrowed amount. These upfront costs do not go towards equity and if the buyer spent just a little bit more the entire amount in a conventional loan would go to equity in the property. Also keep in mind that with FHA loans, PMI stays on for the life of the loan. It only takes 5% of the purchase price to get a conventional loan vs. the 3.5% FHA / 0% VA. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

 

Home Buying Pitfalls for Unmarried Couples

Collier Swecker video blogs about a few issues that unmarried couples face when buying a home together. There are a few legal and economic issues that couples must look at before putting earnest money on their new home. When unmarried couples buy a home together they need to make sure that both of them are named on the mortgage and ensure that they have an understanding of each other’s finances in case of job loss, health problems or anything that will cause financial problems.  Unmarried couples need to make sure that they have a game plan in case one of them cannot contribute to the financial responsibilities that come with home ownership, even if the problem may be temporary. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

Home Sellers Security Systems Spying on Home Buyers?

Collier Swecker video blogs about how many of the homes currently on the market for sale have “Smart Home” technology that allows Home Sellers to not only listen to Home Buyers as they tour a home with their Realtor but in some cases Sellers can video the entire visit as well. While it is understandable that Sellers want to protect their home from thieves, I am concerned that too many conversations that Home Buyers intend to be private are being recorded or overheard by the Home Sellers who are essentially getting information from the Buyers that they can use against the Buyer in negotiations.  I believe that Homebuyers should, out of an abundance of caution, hold all purchase / “game plan” type conversations with their real estate agent outside of the home that they are looking at, so that they don’t risk losing any competitive advantage. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.

Should Newlyweds Buy a House?

Collier Swecker video blogs and answers the question of whether newlyweds should buy a home right after getting married.  Collier discusses the benefits that brides and grooms will receive by waiting to buy a home from both a logical and financial standpoint. It may sound crazy for a Real Estate Agent to dissuade anyone from buying a home, but Collier finds it so important for young couples to start their lives together so that they will financially make great decisions that will lead to a better life for them and their future children. If you have any questions or comments email me at Collier@MegaAgents.com, visit my blog at www.CollierSwecker.com or my website at www.MegaAgents.com.