Combatting Arizona’s Loan Contingency Clause


Let’s say you are selling your home. It’s been under contract, you’re three days away from closing, and you’re all ready and packed up. Suddenly, you receive that dreaded call that the buyer is walking away. What’s more, they’re taking their earnest money with them, which can be done in the state of Arizona.

This is a nightmare scenario that happens to people in this state when they don’t have the right representation looking out for their best interests. In this state, many agents don’t even know that this clause exists. We always consult with our clients about this clause. In a counter-offer situation, we also counter that verbiage of the clause.



In Arizona, some agents don’t even know that this clause exists.



We like to bump up the timeframe that allows them to back out of the deal prior to close of escrow from three days to 10 or even 14 days. That way, both parties know that there’s a hard stop, so if the buyer isn’t able to obtain loan approval 10 (or 14) days before close of escrow, their earnest money is not refundable.

We always aim to put your best interests at the forefront. If you have any questions about loan contingencies or any questions at all about real estate, give us a call or send us an email. We would be happy to help you!

How to Take 8 Years off Your Mortgage!


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There is one simple strategy that banks don’t want you to think about when it comes to mortgage payments. This strategy allows you to turn a 30-year mortgage into a 22-year mortgage. How do you do that?

First of all, there are different mortgage options out there: interest-only mortgages, 15-year mortgages, and 30-year mortgages. While many people might prefer the 15-year mortgage, it does come with a more expensive monthly payment that most people can’t afford.



One extra payment a year shaves 8 years
off your mortgage!



If you go with the 30-year mortgage but want to pay it off sooner, all you have to do is make one extra payment a year. If you can’t swing an extra payment at the end of the year, consider adding 1/12th of your mortgage payment to your regular monthly payments.

For example, if you had a monthly payment of $2,000, you would pay $2,167 a month in order to get that extra payment. That way, you will own your house free and clear in 22 years while saving tens of thousands of dollars in interest.

This strategy is a great way to build wealth. If you have any questions, give me a call or send me an email. I would be happy to help you!

Can Real Estate Ever Go to Zero?


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A question that I get a lot that I'm passionate about is this - can real estate as an investment ever go to zero?

The answer is no, it can't. That's what makes real estate such a sound investment. Stocks as an investment, on the other hand, can go to zero. I have unfortunately experienced that personally. A stock that I owned just filed for Chapter 13, and the price went to zero.

It's not a good feeling to have, and it's exactly why real estate is such a sound investment to add to your portfolio whether you're a seasoned investor or just starting out. Real estate never goes to zero because it will always be in demand.



Real estate never goes to zero because it will always be in demand.


It depends what you want out of real estate - land, speculation for appreciation, a multi-family home, monthly cash flow, or a long-term appreciation play, to name a few. There are a lot of things to consider when looking at real estate, like potential ROI (return on investment) that we can advise you with when investing in real estate. We are investor-friendly Realtors at the Kelly Cook Real Estate Group!

If you have any questions about the benefits of real estate investment, we'd be more than happy to answer them for you. Give us a call or send us an email and let's get the conversation started.