Jim Savage's (oldcolonyhomes) Blog

Mostly, this has to do with lowering your out of pocket costs by minimizing the amount of """"prepaid interest"""" you pay on your mortgage at closing. Interest on your mortgage begins running from the date your transaction closes, but most loans are due on the first day of the month. So when yo...

Income Tax Savings Because of income tax deductions, the government is subsidizing your purchase of a home. All of the interest and property taxes you pay in a given year can be deducted from your gross income to reduce your taxable income. For example, assume your initial loan balance is $150,0...

Expect the unexpected. Anticipate the hidden costs by researching the real estate and mortgage markets. Keep in mind that there are hidden costs and that you have different options to deal with them. The best way to avoid Hidden Fees is to ask and receive a complete breakdown of costs from both ...

 An appraisal and a home inspection have some similarities, but they are two distinct functions in a real estate transaction. The services provided by an appraiser and a home inspector ensure that your property meets certain, basic criteria. The appraisal assures the market value for the buyer a...

 Your home's square footage is important, not just because you know how much space you have to enjoy, but because it can also help determine your home's value. When you get an appraisal, one of the items listed is square footage. The appraiser will take this into account with a price per square f...

 Buying a home is an important decision that can make an enormous difference in your lifestyle. It is also the biggest financial transaction you may make. There are some specific things to consider about a home to buy. * Be realistic: There are no perfect homes. Decide what is important to you, a...

Per your request, this article has been sent to you by Jim Savage of ERA Belsito & Associates. Negotiating for Your Interest Many of us subscribe to the Old West credo that a deal is finished when both parties shake hands on it. If that's your way of thinking, then be prepared to get skinned aliv...

Per your request, this article has been sent to you by Jim Savage of ERA Belsito & Associates. Demand Inspections and Disclosures You can never be too trusting when it comes to buying real estate. The buyer is entitled to know what he/she is getting for their money. The buyer should insist on an ...

Per your request, this article has been sent to you by Jim Savage of ERA Belsito & Associates. How to use Contingencies Everyone is familiar with the conversation where the other person says, """"Yes, but.."""" This person is agreeing with you but only if certain conditions are met. A purchase a...

Buyers - Limit the Deadline to Your Advantage When it comes to real estate contracts, time is of the essence. In many cases, placing time constraints on your offer can often work to your advantage. If you've ever seen a telethon fund-raiser, you would notice that over 90 percent of the donations ...