What's the Difference Between an Inspector and an Appraiser?

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

Good morning, and thanks for coming back to join us.The focus of our blog today is to  identify the distinction between a home inspector and a home appraiser. We've been getting a lot of questions about this lately, so we thought we would clear the air for you so you know the difference between the two. 

First of all, a home inspector is someone a buyer hires to completely inspect the condition of the home they are about to buy. The home inspector, in many cases, will produce a report of about 50-100 pages detailing all of the science and function associated with the property.

Home inspectors identify problems in every area of the home, whether it has to do with systems, defects, foundation issues, or anything else. Issues regarding mold, lead paint, asbestos, and other health hazards are also covered by the home inspector. They can give you information regarding anything that has to do with issues that need to be identified and repaired on the property. 

An appraiser, on the other hand, has a completely different role in the sale. What the appraiser does is identify what the appraised value of the property is, so that can be shared with the lender who is financing it. If the appraised value comes in lower than the sale price, it can create a challenge for the buyer. If you have a great agent, they can negotiate the settlement so that the difference between the sale value and the appraisal can be resolved amicably. 

If you have any questions, give me a call or send me an email. Until next time!

Myths About the Reverse Mortgage

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

Did you know that you can actually buy a home with a reverse mortgage? I recently had a client who couldn't qualify for a regular mortgage for a home, so once we did our research we found that she could purchase the home with a reverse mortgage, and she'll never have to make a mortgage payment as long as she lives there. Today I'm going to clear up some myths about the reverse mortgage, because nobody seems to quite understand them.

1. You can't qualify for a reverse mortgage because of your credit and income: this is not true.
2. You can't get a reverse mortgage if you have a forward mortgage: this is also untrue. 
3. If I outlive my life expectancy, the lender will evict me: another false idea. 
4. You don't have an objective adviser with whom to speak: You must meet with an independent adviser in Massachusetts whenever you try to go through with a reverse mortgage. 

So, what are the benefits of a reverse mortgage? 

1. Seniors can continue to live in their home without a monthly mortgage payment. There are no income or credit score qualifications, even though this is about to change in Massachusetts in April 2015.
2. You can pay for healthcare costs with a reverse mortgage. 
3. You can free up cash for additional income, in order to enjoy your retirement.
4. There is also no pre-payment penalty if you decide to sell the property.
   

So, if you have any questions about the Merrimack Valley real estate market, please don't hesitate to contact us. 

If you'd like more information on reverse mortgages, then you might find this site to be helpful. 

As always, please consider me your #1 resource for real estate!

What's Stopping You From Living in Your Dream Home?

Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (978) 852-3001 for a FREE home buying or selling consultation to answer any of your real estate questions.

We are here today with one of our real estate professionals, Paula Kowalczik, and she has done something extraordinary. Paula has found and moved into her dream home.

When Paula's children left to fulfill their dreams by going to college, they inspired her to listen to her heart and follow her own dreams. She recently moved into a property on the 9th floor of a luxury building in Boston overlooking the Zakim bridge, and she has never been happier.

Paula can't believe she waited so long to pull the trigger, and was surprised at how easy the process was. So live your dream just like Paula. There's no reason for you not to.

It's very possible to live out your real estate dreams. If you have any questions about how we can help you with yours, give us a call or send us a quick email. We would be glad to help you out!