The Sharpe Mortgage Team is committed to providing you each week with helpful information on topics such as the local market, home trends, homebuying tips, and more. This week we shared information on the role of a home appraiser, positive home equity, and what is an escalation clause. Read more on these topics below.
What Does a Home Appraiser Do?
When you are purchasing a home, it is important that you receive the fairest sales price possible. Often, the price set by the seller is not the price the lender feels is accurate for the home. That is why lenders hire an independent home appraiser. Read more!
Do You Have Positive Equity in Your Home?
If you are considering selling your house and moving to a larger one, you may be surprised by the positive equity you have in your home. Positive equity is the difference between your home’s appraised value and your current mortgage balance. Learn more!
In real estate, an escalation clause, also known as “escalator,” is a provision or addendum to a purchase agreement that allows the homebuyer to raise their offer in case the seller receives a higher offer on the property. Find out when escalation clauses come in handy!
Is there anything that The Sharpe Mortgage Team can do for you this week? If you’re interested in purchasing a home or refinancing your current home in Winston Salem or the surrounding areas, give us a call! We can discuss your financial goals and discuss a loan program that might be right for you.
