Cumberland County Mortgage
Buying or refinancing a home is not only an important decision, but also one of the largest investments we ever make. Why not go local with a Maine Mortgage professional whose team has bought and sold over 130 properties, built and rehabbed homes, while also having performed over 3,000 closings? We have one of the "Top 30 Young Real Estate Professionals in America," on our team while also owning a Real Estate and Title company.
Remember, pre-approvals take only minutes, closings can be done with no money out of pocket and we will come to your home or office to finalize the transaction!
Cumberland County Mortgage
152 US Route 1 Suite 12 - Scarborough, ME 04074
Corey Scott Cell - 207-400-7750 Office: (207) 878-8882
Fax: (207) 221-1909
Mobile: (207) 838-0033 We lend in the following states: Maine License # SLM5007 Supervised Lender
Real Estate Contracts >Contingency Contracts
Buyers walk into your home in your area and fall in love with it. There is one problem--they will have to sell their home before they can buy yours. Their offer contains a contingency clause which makes the purchase dependent upon selling their present home. Should you accept such an offer?
Your decision should be based on several factors. Is their home being professionally marketed at this time, or are they trying to sell it themselves (a risky proposition!)? How long has it been on the market? Is it overpriced? If the house doesn't sell, can the buyers take out a bridge loan or make other arrangements to get to the closing table? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons.
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| Q |
What is considered to be one of the soundest long-term investments?
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| A |
Real estate has a long-term record of strong investment return and is a driving force of the national economy.
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