"SINCE 1932"
901 N. Wayne Street, Angola, Indiana  46703
Phone: 260-665-2515 or 800-201-Lake
| Fax: 260-665-8247 | Email: info@boothrosekrebsre.com
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Home Buying Tips

Your Home Viewing Checklist

Before you buy a home, you’ll want to know that the property has been well maintained so you can avoid hidden problems and costs down the road.

To find out how well the previous owners took care of their home, check out the following at the open house:

Fire safety: There are working smoke detectors and carbon monoxide detectors.
Roofing: Find out what the roof is made of (wood, asphalt, tar and gravel, steel, etc.).
The type of material used can mean a lot in the life of a roof. A ten-year-old steel roof has about 40 years of life left; an asphalt roof may be halfway through its life.
Windows: The windows are well sealed, and preferably double paned.
Foundation: There are no cracks in the exterior foundation.
Wiring and plumbing: Ask whether the home has knob and tube aluminum wiring.
This type of wiring can be expensive to replace, and some insurance companies won’t insure a home that has it. Make sure plumbing is not leaking and that water pressure is adequate.
Exterior: The yard(s) is in good condition. There’s no rotten wood siding, decaying stucco, or cracked vinyl.
Bathrooms: The area around the tub or shower has no signs of water damage or mould.
Appliances: Major appliances like the fridge and stove are well maintained and in good working order.



Understanding Real Estate Subject To Clauses

In Canadian real estate contract negotiation, subject to clauses are a home buyer’s safety-hatch – a way to escape the contract if something goes wrong.

Three of the most common clauses on an offer to purchase are subject to financing, subject to inspection, and subject to sale:

Subject to financing clauses don’t offer much room for negotiation. Buyers can’t remove this subject clause during the offer/counteroffer process, unless perhaps they have a lot of equity, and don’t really need a mortgage, or require a relatively small and easy-to-get-fast mortgage. Remember, if the buyer didn’t need a mortgage, she likely wouldn’t have made the offer subject to financing in the first place.
Subject to inspection clauses are commonly included in a buyer’s offer to purchase a home. Since it should take no more than two or three days to arrange an inspection, this is an easy clause to negotiate. As with the financing clause, though, you can try to negotiate a shorter time period for the inspection’s completion to speed things up.
Subject to sale clauses can be negotiated with regard to the length of time you give your buyers to sell their current home. Any buyer who already owns a home probably can’t afford to carry the expense of two homes at once. Still, no matter how anxious you are to move, allow the buyer a decent amount of time to list and sell his home.
Usually four to six weeks is considered fair. Most sellers will include a “time” clause, so that if another suitable offer comes along during that time, the seller can activate that clause -- meaning that the buyers with the accepted offer have a set amount of time (often 24 to72 hours) to remove the subject to sale clause or drop out of the contract and let the competing offer proceed.

How to Pay Less Interest on Your Mortgage

Hate having a big mortgage? Join the club. Remember that you can save yourself a lot of money by limiting the amount you spend on interest.

Use these strategies to keep your mortgage interest payments low:

  • Make as large a down payment as you comfortably can. The larger your down payment, the smaller your loan (principal), and the less interest you’ll have to pay.
  • Arrange to pay back the loan as quickly as possible. The longer the amortization period, the life of the loan, the more interest you will pay.
  • Commit to making weekly or biweekly payments. This will allow you to pay off the principal more quickly and therefore pay less interest on it.



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Booth-Rose-Krebs Real Estate Inc.  |  901 N. Wayne Street, Angola, Indiana 46703  |  (260)665-2515 or (800)201-Lake