Foreigners: apartment buyers with special needs

Part 1 of 2

(Flickr photo by allie_caulfield)

The foreign buyers you read about who are purchasing super-luxury apartments that are sky-high not only in location don’t concern themselves with financing their purchases.

Nor do those whose chief interest is to park their funds in a safe place seek out lenders.  (Of course, foreign buyers may have in mind a safe haven for their funds as well as a desire to increase their investment with financing assistance.)

But for foreigners who want a modest pied-à-terre or perhaps housing for their children attending school in the U.S., a mortgage can be important.

They may be able Continue reading

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Weekly Roundup: Storm effects, U.S. price and sales trends, credit scores, timing of rate locks, buyer rebates and growing optimism. Much more!

Daylight Savings Time Ends Saturday Night

Firm cost of storm’s damage to area homes long way off, but total will be astronomicalperhaps as much as 64 percent of $50 billion total

Sandy ravages Long Island’s East End, decimating homes of the rich and famous

Storm could shape how residential housing along the water is built, marketed, sold

Buyfolio collaborative service for consumers and agents finds deep-pocketed buyer

‘Prewar’ speaks volumes

Boards may promise buyer applicants one thing, then do something else

World Series pitcher lists California mansion for $11.45 million

Buyer of late pop star’s estate so eager to move in that he’ll occupy the place before sale closes

Actress takes substantial loss on her sale of Hollywood Hills house fit for a queen

Late Oscar nominee’s duplex overlooking Central Park on the market for $13.95 million

Case-Shiller records continuing upward price trend

Homewnership, rental vacancy rates Continue reading

Use care when relying on power of attorney

Power of. . . a different sort. (Flickr photo by damndirty)

It is not uncommon for one, or even both, of the parties to a real estate transaction to be absent at the closing.

In that event, providing someone with the power of attorney makes everything possible.  But there are important matters to consider when either buyer or seller goes that route.

First, Continue reading