About the Piedmont Region of Virginia
Located in Virginia's Piedmont region,
Culpeper, Fauquier, Rappahannock, Orange and Madison counties are convenient to
a variety of metropolitan areas, including, Washington DC/Northern Virginia,
Fredericksburg and Charlottesville. Many of our clients who work in these areas
have chosen to take advantage of the relatively lower taxes and property costs
in these counties and commute from this area to their place of employment. In
addition to the obvious financial advantages, these counties also provide an
increase in "quality of life" advantages, including larger lots, smaller
schools, slower pace of life and thousands of acres of beautiful
countryside.
Request my Free Piedmont Area Relocation Package. It's packed full of useful and important information about this area. Don't move here without it! If you are interested in a specific city or county, please make a note of that. Remember: I'll send this packet to you for free and without obligation. Just fill out the form and I will send it right out...
Financing Your Home >Owner Financing
If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.
Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.
Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.
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What does "contingency" mean in real estate?
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| A |
A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." |
 See More Real Estate Trivia > |
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