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First Time Buyers >The Perfect House

Home buyers must often deal with deferred maintenance or repairs. For example, you may have found a terrific house and like many competent home buyers, you included a structural inspection contingency in your purchase agreement. What happens when you find out that your "perfect" house needs some work? Do you ask the sellers to pay for the repairs? Before you answer "yes", there are some important considerations.

Some contracts require that all of the home's systems, such as plumbing, heating, electrical and central air conditioning, be in working order. In this case, the sellers may be obligated to repair any problems with these systems. Leaky roofs, damp basements, or other structural problems may not be covered, however. If you ask the sellers to make these types of repairs, you may void the contract by doing so. The sellers might prefer to negotiate the repairs to keep from losing the sale. If there are other buyers waiting in the wings with back-up contracts, you run the risk of losing the home.

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Q	What mortgage transactions between borrowers and lending institutions operate in the private sector of the economy?
A	Conventional mortgages are private sector transactions that are not insured or guaranteed by the government.
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The Frank Kenny Real Estate Team, REALTOR®, real estate agents and broker for Torrance, Redondo Beach and Manhattan Beach California home listings, property and land for sale - NUMBER1EXPERT(tm)

Frank Kenny Real Estate Team
Keller Williams Realty
23670 Hawthorne Blvd., Suite 101
Torrance, CA 90505
310-465-2340
Fax: 310-791-0123
Service@FrankKenny.com
Thank you for visiting our web site and welcome to the South Bay! We have assisted hundreds of people in achieving their real estate goals for several years. Buying or selling a home is an important transition in your life. We will take the time to find out exactly what your needs are and we are committed to finding the perfect home for you as you begin a new chapter in your life. It is our goal to provide you with the most comprehensive 'informational' and stress-free experience possible. For a new beginning and a fresh perspective, give us a call--you'll be glad you did!

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