October 2018

Found 4 blog entries for October 2018.

Prior to the closing on the purchase of a piece of property in Georgia, an attorney performs a title examination of the property.  This examination includes researching all of the title documents that are recorded in the Superior Court Clerk’s office for the county in which the property is located.   The attorney uses this examination to identify any mortgages, liens, judgments or other encumbrances which need to be satisfied or corrected at the closing.

However, this title search will not identify over 100 possible defects in the title that could arise at any time in the future.  For example, this title search will not identify: 1) any prior documents in the chain of title that have been forged, lost or misfiled, 2) any documents that have

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  • What is Asset Dissipation? (A/KA Asset Depletion)

    Using assets for qualifying income to demonstrate an ability to make mortgage payments. Asset depletion mortgages, also known as asset dissipation mortgages, enable borrowers to use liquid assets to qualify for a mortgage.  Asset depletion mortgages are good for borrowers with relatively minimal income or no verifiable employment but significant assets such as funds in a bank, investment or retirement account.  Examples of potentially applicable borrowers include the self-employed, retired (or almost retired) and wealthy.

    Fidelity Bank Mortgage uses a formula to calculate the income that could be generated by depleting a borrower’s liquid assets over a fixed period of time and use that

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When is the best time to list and sell your home?  When you consider the various times of the year you will have to consider the impact of prior sales on your home.  This is the major consideration when you would consider listing and selling your home.

List & Sell Your Home in the Fall

Fall begins September 22 and lasts through December 21.  As you consider the Fall as a time to list and sell your home; this is a good time to do so.  In the Fall when an appraisal is done on your home you have the benefit of the highest sales of the year.  This means that you will benefit from the sales that have occurred in the Spring and Summer.  Most appraisals will use comps to evaluate your home that has occurred in the last six months.

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There are a number of things that will affect your appraisal.  These items listed below are not the complete list of items that will affect your appraisal.  But they are some of the most significant.  Each of these will require an adjustment on your appraisal.

Being the First Home in the Community

This has occurred multiple times over the years.  Sellers do not necessarily agree with it. 

We had done our Market Analysis on a home in Braselton a couple of years ago.  It was the first home in the subdivision.  Our analysis determined that the home would sell for about $25,000 less than an interior home would sell for.  Our analysis suggested the home was worth around $295,000 before our adjustment for being the first home in the

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