David Reecher: What are Incurable Defects in a Home?

 

David Reecher of eXp Realty is an experienced luxury home seller. According to David Reecher, certain parcels of real property sometimes contain defects that cannot reasonably be cured. When this happens, the result is known as an incurable defect. This basically means that either fixing the problem is beyond the homeowner’s control or that the cost involved with curing the defect is prohibitive because the expense associated with doing so would be much greater than the value of the actual real property.

David Reecher: What is a Planned Unit Development?

David Reecher of eXp Realty is a respected real estate professional in Maryland who understands what it takes to sell homes fast for the best price possible. He shares that a Planned Unit Development, or PUD, is a type of residential development where the homes are usually grouped together on lots that are smaller than typical and where there are large and open park like areas within the development.

Ownership is in fee simple, which is like most other residential homes that people are familiar with. The common areas that are within the development are owned jointly by all the residents, so if there were 50 homes then each owner would have 1/50th ownership. Another feature is that the land beneath the home is also included in the ownership of the property. 

David Reecher: What does an Amortization Schedule Show?

David Reecher of eXp Realty specializes in marketing and selling million-dollar homes throughout Maryland. According to David Reecher, an amortization schedule shows each payment amount for the mortgage, how much of each payment is applied to the principal, how much is applied to the interest, and how much remains to be paid. The table shows each payment until there is a zero balance and that the loan is paid in full.