Most buyers assume that the home they are purchasing has always been located on its current property. However, some houses have been physically relocated from one location to another.
Whether a historic home was preserved by moving it or an existing structure was transported to a new lot, the property’s relocation history can create unique questions during the mortgage process.
Imagine finding a beautiful home that comes with an extra piece of land next door. Perhaps the additional lot provides more privacy, a larger backyard, or room for future improvements.
While this may sound like an attractive bonus, purchasing a home that includes multiple parcels can introduce mortgage questions that buyers might not expect.
A newly installed roof, upgraded windows, or modern heating system can make a home more attractive to buyers. However, what happens when the seller is still making payments on those improvements?
A home can look perfect during a showing, but certain features of the property may create questions when it comes time to secure a mortgage. One situation buyers may not anticipate is purchasing a home that shares a septic system with another property.
The FOMC Minutes and Consumer Sentiment report were the most impactful calendar items last week, further reinforcing the Federal Reserve’s resolve to bring inflation down to its 2% target rate.
Reliant Home Lending
8550 United Plaza Boulevard Suite 702
Baton Rouge, LA 70809
