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What happens if a property doesn’t appraise for the purchase price? 1024 818 Matthew Cooney

What happens if a property doesn’t appraise for the purchase price?

So you have found the home of your dreams.  You put in an offer and it has been accepted.  You have completed attorney review.  Now its time for inspections and…

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Looking for a house? What type of buyer are you? 1024 683 Matthew Cooney

Looking for a house? What type of buyer are you?

Written by Matthew Cooney 1) The first type of house buyer is extremely motivated and is in a hurry to buy something.  This includes people who have been transferred for…

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What is a ‘comp’? 1024 579 Matthew Cooney

What is a ‘comp’?

In the world of real estate, a comp (short for comparative) is what houses near the house that is for sale have sold for within the recent past.  Comps are…

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What is radon gas? 1024 579 Matthew Cooney

What is radon gas?

Radon is a gas produced by the natural decay of other radioactive substances.  It is more commonly found in the Eastern U.S. although it can occur anywhere.  Radon levels vary depending on…

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A Guide to Septic Systems 1024 1024 Matthew Cooney

A Guide to Septic Systems

One fourth of all homes in the U.S. have septic systems.  A properly designed septic system should provide long-term effective treatment of your household wastewater.  However, lack of regular maintenance…

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What is a FICO Score? 1024 579 Matthew Cooney

What is a FICO Score?

FICO which stands for Fair, Issac and Co. is a credit score used by most lenders to determine a borrower’s ability to pay back a loan.  There are three major credit…

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What is the difference between a condominium and a co-op? 1024 683 Matthew Cooney

What is the difference between a condominium and a co-op?

Condos and co-ops are 2 types of home ownership that differ from a traditional single-family structure.  Both offer advantages and disadvantages.   Some of the advantages include lower cost for lot development, less…

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What is Regression and Progression? 1024 579 Matthew Cooney

What is Regression and Progression?

These are 2 appraisal terms which describe how the value of a home is effected by better or lesser properties in a neighborhood.  Regression refers to the principal of how the…

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Applying for a mortgage loan? What you should avoid… 1024 684 Matthew Cooney

Applying for a mortgage loan? What you should avoid…

If you are in the process of buying a home and plan on financing it with a mortgage loan, there are some important things that you should avoid which will…

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What is PMI? 1024 579 Matthew Cooney

What is PMI?

PMI or private mortgage insurance is typically required by a lender of a conventional loan where the down payment or equity is less than 20% of the property value.  Therefore,…

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