Many home buyers have heard about adjustable-rate mortgages (ARMs). They typically have the advantage of lower mortgage payments than fixed-rate mortgages. This enables the home buyer to get a larger mortgage and buy a more expensive home. An ARM comes with the risk that if interest rates rise substantially, the home buyer may be unable to afford the adjusted mortgage payment. With a fixed payment for several years, the home buyer may decide the risk is worth the advantages.
Multiple Counter Offer
In Silicon Valley, multiple offers to purchase a home are often received within a short time period. A seller cannot respond to multiple offers by sending a simple counteroffer to each potential buyer. The seller needs to make a “multiple counter offer”. The seller may choose to send a “multiple counter offer” to some or all of the potential buyers.
Our local Association of Realtors has standard forms which are normally used by the seller.
Hello world!
Welcome to Real Estate In The Bay Area CA Sites. This is your first post. Edit or delete it, then start writing!
