Lotus Grove Realty | Finger Lakes
🏠 EQUITY 🏠 “Equity is the difference between what you owe on your mortgage and what your home is currently worth. If you owe $150,000 on your mortgage loan and your home is worth $200,000, you have $50,000 of equity in your home.” . Your equity can increase in two ways. As you pay down …
🏠”CLOSING “🏠 The closing is the final step in executing a real estate transaction. It is the last step in purchasing and financing a property. On the closing day, ownership of the property is transferred from the seller to the buyer 5 tips to avoid closing delays Check documents for errors. Allow enough time for …
🏠….TITLE…🏠 Under New York law, there are four primary manners in which owners may hold title to property: Sole ownership – an individual hold full ownership over the property Tenants in common – ownership by two or more individuals where each holds an undivided interest in the property that does not have to be equal, …