Joe Cafasso Realtor

This can mean different things depending on how an offer is written, but I'll give the most typical meaning. Basically the homeowner is allowing a buyer to do a home inspection but does not wish to have any further negotiations for repairs or monetary credits. This can be because the house is in disrepair, but more commonly it is because the seller is just being transparent about his or her wishes to negotiate one time. Now, typically if there is an issue that comes up during an inspection that is major or is a hidden defect (septic issues, foundation repairs, water quality) then the seller will be open to re-evaluating their stance on as-is.

As a Realtor, my job is to make a transaction go smoothly. I deal with many lenders, attorneys, and home inspectors. I like to refer quality vendors to my clients because I know I will have some control over the process to make it more enjoyable. For instance, I just had a transaction with a lender that I never used before. The lender never returned my calls or the attorney's calls and he gave very vague answers to the client. At the end of the day, the loan was denied and the poor buyer had to scramble for a place to live because of the lack of communication. If the buyer used my recommendation, I know the communication process would have been more transparent due to the relationships I build. Also, I don't always recommend the same vendor, I know some lenders who are better meeting in person vs doing everything digitally, depending on the communication style of my client, I will match them up with the best vendor for them.

This depends on if the house you're buying is vacant or occupied. On a vacant house, you can close as quickly as you can obtain a mortgage (typically 30 days). On an occupied property, it will depend on how quick the seller can move out. Typically 45-60 days is a comfortable timeline, however, there are instances where the seller can move quicker, or needs more time. I have had some instances, where the owner needs to stay in the house for 120 days. In cases like this, you can wait to close on the home, or you can close and rent back to the seller.

This is a very confusing topic if it isn't explained properly. A down payment (also can be called a deposit) is the percentage that you place down on a property qualify for your mortgage. The deposit is the portion of the down payment (typically 1/2) that you place down to secure the contract on the home you're purchasing. The closing costs are unrelated to the down payment, this figure is the cost of obtaining the mortgage and opening any escrow accounts (ie: lender fees, attorney fees, pre-paid taxes, homeowner insurance). When you speak with a lender and get pre-approved, make sure you have him or her explain how much money in total that you will need to close on a property. As a Realtor, I can give you ball park estimates for closing costs, but only your lender can give you a detailed breakdown.

I have licensed and a full time Realtor since 2004! Prior to my real estate career, I was in the tech industry while working at Sacred Heart University and then Yale Law School. I have also owned several companies, a IT consulting firm and then a construction company.