Money hiding at home? How to get that mortgage now

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Money hiding at home? Do you, or someone you know, have money hiding at home?  We are not talking about a couple dollars here and there, here we are discussing the folks that are not great fans of the banking system and have chosen to stay close to their funds.  Sometimes hundreds of thousands of dollars- at home. And now they want to buy a property.  Maybe a second home, Maybe an investment, Maybe a vacation home, Maybe commercial property- they want to buy something Real Estate related.  First- Congratulations on being such a diligent saver!  Now onto

That money at home sure would come in handy when making a purchase of this nature, but if not handled correctly the money hiding at home may NOT BE USEFUL at all!  OUCH!

Blue Skies ahead! There is a way to make it work for you and allow you to achieve your dreams.  This money needs to be seasoned.  Seasoned is the term used for money that has known origins and comes from a banking institution.  The number one way to produce ‘seasoned’ money for a Real Estate transaction is to have it in the bank for at least 2 months. (some lenders may require a bit more time- so it is good to ask if this scenario applies to you)

The next obstacle to home savers will be sourcing of funds.  what is sourcing?  This is the tracking of funds to origin.  If you have a regular weekly deposit; such as paycheck, it is easy to source the funds.  The problem arises when you have sudden deposits that are non recurring, or one time large deposits.  Most lenders will need to know from where the funds originated.  Very often it is a simple explanation; a year end bonus, a large sale resulting in larger than normal commission payment, proceeds from sale of other real estate, or perhaps a family gift.  But other times it is not so simple and the appearance is the funds appeared seemingly “out of nowhere”.  This is often the case with those who fall into the “money hiding at home” category.

In the end you have the funds to do what you wish and you have the property you wish to purchase- Talk to your lender, know what they need, and then do as they ask and be sure the funds appear in the manner they need to make the underwriters happy and allow your purchase to proceed as seamlessly as possible!!!

Thinking of Buying or Selling? Give me a call 860-575-5001

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Making YOUR Real Estate Dreams a Reality!!

 

 

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Land for Sale New London CT Site Plan Approved

Ready to build your own home? This Land for Sale in New London CT is Site Plan Approved

and ready for you to make your home a reality.  2Story 4 bedroom home will be situated on this corner lot.  Conveniently located minutes to shopping, schools and even on bus route for ease of getting around.

Reach out for additional details

Dawn McNary
REALTOR®
Berkshire Hathaway HomeServices New England Properties
860-575-5001 Call/Text
@mcnaryrealty
@dawnmcnary

Are you spying on potential buyers

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Are you spying on potential buyers? And do you need to disclose this surveillance information to your REALTOR® ?

This is a question that comes up more and more often when preparing a home for sale on the market.  This is a discussion you, the homeowner, need to be prepared to have with your REALTOR® when listing your home for sale.  This is a topic you will want to explore. This is a legal area you will want to become familiar with, in your state, and how to apply these laws in the day to day activities involved in selling a home- from broker open houses, to public open houses, to private showings, to inspections and appraisals.  No doubt there is a lot to know in order to not run amuck of the legalities of the business of both protecting your property AND selling your home.

Connecticut is a -1- Party state- and this summary of CT laws gives you an overview with which to begin the conversation.  It is taken from NAR.realtor Law & Ethics section  Video and Audio Surveillance Survey

A person may record oral conversations where either  the person is a party to the conversation or at least  one of the participants has consented to the recording.
A person may not knowingly photographing, filming or  recording in any way another person’s image without  consent in situations where the person is unaware of  the filming, not in plain view and has a reasonable  expectation of privacy

In June 2016 Realtor.com published an interesting article on the same subject, one all sellers- and buyers should read PRIOR to beginning the process of selling or shopping for a home.

Looking to buy or sell? Or currently listed For Sale By Owner and thinking ‘this is not what I thought it would be’?  Searching for guidance and a buyer ready to purchase YOUR home to you can move onto YOUR next journey? Then reach out and let’s chat about it-

Dawn McNary
REALTOR®
Berkshire Hathaway HomeServices – New England Properties
Essex CT
860-575-5001 
@DawnMcNary on Twitter
“Making YOUR real estate dreams a reality!”
 Licensed in CT & TX

Looking to sell in Connecticut

What does this picture mean to your plans … Let’s talk and find best position for your future sale!  When you are placing your home on the market it is imperative that you understand selling is about more than just the home itself.  Knowing who is shopping and WHERE they are shopping is a big part of the process.  Contact me today to discuss your particular situation 860-575-5001  Berkshire Hathaway HomeServices New England Properties   Need to know your home’s value- Find out here!

 

Last 90 days buyer activity in the area

Where are they searching for property?

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Lake access in Moodus section of East Haddam

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SOLD SOLD SOLD  This Mid Century Modern home is an amazing amount of square footage for the price.  This home is located in Moodus section of East Haddam with lake access and treed  privacy in a private beach association.  This 4 bedroom/ 2Living area/2 bath with indoor  pool home has parking for your friends and family, garage space for cars, hobbies, and storage!  There are also two outdoor full size sheds complete with electricity.  So much potential in this property- don’t just drive by- schedule an appointment today and come- take a look- lots to see!!!

Nearby attractions:

Gillette’s Castle < 10 miles
Machimoodus State Park< 5 miles
Sunrise State Park < 4 miles
Chapman Falls < 10 miles
Airline Trail < 5 miles
Devil’s Hopyard < 10 miles
Fox Hopyard Golf Course < 15 miles
Gelston House < 10 miles
Two Wrasslin’ Cats Cafe < 5 miles
Salem Valley Farms Ice Cream < 15 miles
Goodspeed Opera House < 10 miles
Upper Reservoir < 1 mile
Lower Moodus Reservoir < 1 mile
Bashan Lake < 2 miles

 

 

Happy House Hunting –  Buying OR SELLING?  Give me a call today to set up an appointment to discuss your thoughts and develop a plan to make YOUR dreams a reality!

2015 Headshot Dawn Biz

Dawn L. McNary, REALTOR® Berkshire Hathaway HomeServices – New England Properties Essex

CT REALTOR® Start your search today Download Berkshire Hathaway HomeServices New England Prop – Dawn McNary’s mobile app here:

 

 Let me help  ‘Make YOUR real estate dreams a reality!’

Let’s get the conversation started- Call me at the office Mon-Fri   via cell/text 860-575-5001

Information is obtained via CTMLS and is subject to change.

Knowing when to stay and when to go

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Knowing when to stay and when to go is a difficult decision when it comes to your own home.  A hoOpen Houseme to most people is so much more than a piece of property.  A home is built on memories, both good and bad.  A home is built on laughter and tears and shared experiences.  Yet a a home has only the value of the market for a piece of property.  Why is it important to know this distinction?

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NEW PRICE $627K Relax Roam and Fall in Love with this rural Retreat

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New York City to Boston there is a beautiful halfway point nestled along the Connecticut River in East Hampton, CT.  Rolling Hills and Fall Foliage surround you and the green of summer amazes you as you walk, run, bike, canoe or kayak in the area. So much to do and explore from the shoreline to Points North, East and West.  To know that you can come back to this amazing retreat and relax away from it all is priceless peace of mind.

Schedule a private appointment today to not only take in this space but get to see how amazing not only the home is but also the Workshop space- for home hobby, car collector, auto restoration enthusiast or whatever you desire- this space- on two levels is ready for you to create your dream!!!

Looking for that perfect refuge from it all? This is it! Take the next step and schedule a private showing today.  If you need to SELL prior and are ready to start today- then give me a call!!

2015 Headshot Dawn Biz

Let me help  ‘Make YOUR real estate dreams a reality!’

Let’s get the conversation started- Call me at the office Mon-Fri   via cell/text 860-575-5001

Open House weekend

Friday is upon us, good news!  In the land of Real Estate that usually means on thing- OpenHouse Saturday and Sunday are right around the corner.  The list of Open Houses in Eastern and Central not to mention Shoreline CT is fantastic!!!

Open House

If you are heading out to an Open House this weekend and ARE working with a local RELATOR- be sure to let your host know and give them your REALTOR’s contact information.  If you are not yet working with a REALTOR just remember your host is working on behalf of the seller’s and it is good to be pleasant and make small talk- but keeping conversation to a minimum, should you find you are in LOVE with the home, would be in your ‘negotiating’ best interest.

Need a REALTOR® to work with you on the journey? Do not hesitate to give me a call- happy to work with you toward “Making YOUR Real Estate Dreams a Reality!”