What Does "As Is" Mean In Buying A home

We have all heard the term "as is" when looking to purchase a home. With the foreclosure stoppage behind us now and banks, Fannie Mea and Freddie Mac putting foreclosed homes back on the market; do you really know what "as-is" means?

As is means different things to different people and differnet homes. In it's simpliest definition in regards to a Real Estate transaction it simply means purchasing a home in the present condition that it is in.

Each home can be different in regards to the condition. But, when you agree to purchase a home as-is you agree to purchase the home in the condition you have seen it in at the time of you presenting your offer. The seller agrees to sell the house in it's present condition at the time of the offer was presented.

Homes can be in different conditions and sold "as-is". Generally banks will sell a home in this condition because they have never physically occupied the home. Thus they are unaware of any things that may be wrong with the home. It does not necessarily mean the home is good or in poor condition. The bank is taking away any liability from themselves in regards to disclosing anything with the house.

The consoling part is the banks realize there may be something wrong with the house and will allow a window fo 7 to 10 days for the buyer to have a home inspection and walk away from the transaction for repairs that may need to be made.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Charlotte Open House: 4834 Sunburst Lane Dec.12th 2-4p.m.

Sunday December 12, 2010 from 2-4 Open House at 4834 Sunburst lane Charlotte. Come tour this 3 bedroom home with a loft area. You will enjoy the open floor plan and space that this home offers. The fenced in back yard offers privacy and quiet with no neighbors behind you. Offered for only $154900 you can be in this home for less than $1,000 a month with taxes and insurance and only 3.5% down. Ask me to show you how. View a virtual tour of this home:
http://www.circlepix.com/home/4B25DD


Dave diCecco
Realtor/Broker
www.davedicecco.com

Best Holiday Gift..Down Payment Gift

We all have heard and read that the home prices have not been this low in over 6 to 7 years. With rates hovering around 4% the affordability to buy is the highest it has been since they began tracking the numbers. Yet, jobs have been scarce and families are struggling to save money. You have been renting and want to finally realize the american dream of home ownership. But you do not have the down payment? What do you do?

Despite various programs that might be able to help you out; one tried and true program is the gift. A family member can gift you the down payment. With the FHA guidelines being 3.5% of the sale price, you can ask family members for an early Holiday present.

I recently had a young family that was looking to buy a house. The affordability was well within their guidlenes. In fact, it would be less than they are paying in rent currently. They were a little short for what they would need for a down payment. I told them to ask family and see if anyone could help them out. Well, they will be celebrating the holiday's in their new home thanks to mom and dad....

Many people do not realize that you can receive money to help with your down payment. With tax season right around the corner you can ask for a short term loan until you receive your tax refund. It can allow you to realize the amercian dream and maybe even lower your payments from what you currently are paying right now.

None of us know what the housing market holds for us in the future...Why wait when you can own now? And what better way to spend the holiday's than in your new home.....

Dave diCecco
Realtor/Broker
www.davedicecco.com

new Listing: 11113 Kempsford Drive Charlotte, NC. 28262

11113 Kempsford Drive in Charlotte is located in the Hunting Ridge subdvison. This four bedroom two and half bath home is conviently located in the Universtiy area of Charlotte. The home boasts almost 1900 square feet of living space on three quarter of an acre lot. The space in the home is well utilizied. The home features a formal living room and dining room with a family room adjacent to the open kitchen on the main level. The upstairs features four good sized bedrooms. The master bedroom has a private bath with a separate tub and shower stall with dual sinks.

One of the great features of the house is the size of the yard. Sitting on just over three quarters of an acre. This is a level yard that backs up to some woods giving you the added privacy. The previous homeowner had young boys and built a tree house in the back part of the yard for the children to play in. Featuring a two story treehouse with real windows and doors it is built to stand the test of time and weather.

Looking for convience? This home has it. Conviently located within a mile of University Blvd. This home gives you easy access to 485 and 85. In addition it is only a short drive to the UNCC campus and Concord.

Priced to sell at ONLY $114,900; come see why so many families are calling the Unviersity area of Charlotte home.

Dave diCecco
Realtor/Broker
www.davedicecco.com