Keeping older adults safe at home
It’s a fact: The older we get, the more likely we are to suffer a fall in the home. Additionally, falls are the leading...
Olear Makes it Clear – Episode 16 – Easement
An easement on a piece of property grants another person or entity the right to utilize a portion of the same property for a specified purpose.
Olear Makes it Clear – Episode 15 – Chain of Title
Chain of Title: When a property is being sold, it’s required to establish chain of title, or documentation showing all previous ownership of that parcel of property.
Is having multiple executors a good idea?
When someone passes away and has a will, one of the first questions to be asked is, “Who is the executor?” While being...
Olear Makes it Clear – Episode 14 – Annual Percentage Rate
Annual Percentage Rate: Also known as the APR, the annual percentage rate is the amount the borrower is charged by the lender over the life of the loan.
Olear Makes It Clear – Episode 13 – Acceleration Clause
Acceleration Clause: Often added by a prospective purchaser to their offer when competing with other potential buyers for...
That time I almost got arrested before the final inspection
No matter what career you have chosen, we all have that one day that will forever stick in our mind. Mine had to do with...
A short sale can be a good buying opportunity, but…
A short sale — an alternative to foreclosure — can be a good buying opportunity, but if you choose to pursue this method of...
Olear Makes It Clear – Episode 12 – Competitive Market Analysis
Appraisal: A property appraisal is done by an individual licensed by the government who has passed significant specialized...
Olear Makes It Clear – Episode 11 – Appraisal
Appraisal: A property appraisal is done by an individual licensed by the government who has passed significant specialized...
Olear Make It Clear – Episode 10 – PMI
PMI: Private Mortgage Insurance is required by a mortgage lender when a homebuyer makes a downpayment of 20% or less on a...
County to offer septic system workshops
Is there a septic system on your property? If you want to learn how to keep it functioning properly, Erie County invites...
Olear Makes It Clear – Episode 9 – Transfer Tax
Calculated as a percentage of the sale price on a parcel of real estate, the transfer tax is a revenue generator for state and local governments. Revenue generated by the transfer tax is often earmarked for a specific purpose within a community. Individuals 62 or older are eligible for an exemption to reduce the percentage used.
Olear Makes It Clear – Episode 8 – Sonyma
The State of New York Mortgage Agency (SONYMA) is a program exclusively for first-time homebuyers. Benefits may include lower interest rates and reduced closing costs. SONYMA loans are also a good option when interest rates increase dramatically.
Olear Makes It Clear – Episode 7 – Reverse Mortgage
Funded through the Federal Housing Administration, a homeowner can qualify for a reverse mortgage — a type of loan — at age 62 or older using the equity in your home. Payments can be received as a lump sum, monthly payments or both. Closing costs can be substantial, so consult your financial manager or an elder law attorney for more information.
