Lender’s cash back

Some fnancial institutions may offer borrowers a cash back corresponding to
5% of the amount of their loan if, in return, these accept to make a loan at a rate
of higher interest. This practice can be very advantageous for them.
Indeed, it is possible for a borrower wishing to contract a loan of $ 200,000, with a five-year term at the rate interest rate of 4% rather than 2.8%, to pocket immediately
a cash back of $ 10,000. The 1.2% increase in the rate of interest results in a $ 125 increase in
monthly payments which, after five years, correspond to a payment
additional $ 7500 and therefore save $ 2500. Cash back can help to offset some
expenses incurred by the purchase of a property. Furthermore,
this option can be interesting for homeowners rental properties since interest on loans
Mortgages are tax deductible.
It should be noted however that during the refund total loan,
if made before the expiry of the term, the lender
will require the repayment, pro rata of the period, of the amount of the discount.

Why a building inspection?
You buy a property and want to make sure you
make the right choice ? You have to ask for an inspection of th building by a specialist.
A building inspection is not mandatory, but strongly
recommended for the following reasons.
First, the report that will be submitted will allow you to provide basic maintenance work that will be required.
If the report notes important work to be done, you you can use it to negotiate with the seller. You could demand that he lower his price or that he make the
work required before the sale. You could possibly use the report to withdraw from the transaction if it do not satisfy you. In the event of the discovery of a hidden defect once
owner, if the report was done in a professional manner, it
could be useful for you to sue the seller. The choice of inspector is difficult, however, because no professional order in this area. We recommend
to speak to people of confidence who will be able to
recommend a qualified inspector according to the type of property
that you choose.

In the event of the discovery of a vice hidden once owner, if the report has
been done professionally, it could  you will be useful to start an appeal
against the seller.