Sensible Developments, LLC
2314 Cecil B Moore
Suite 2B
Philadelphia, PA 19121
Phone/Fax:  215.525.1052
Email: info@sensibledevelopments.com
Facebook | Twitter (@SensibleDev)

Random Real Estate Tips
Keep money in the bank for a few months prior to purchasing a property. The banks refer to it as "Reserves" and ask for proof during the underwriting phase of the deal, usually 3 months of the buyer’s most recent bank statements. The amount should typically be the mortgage amount times three (i.e. $1,000 x 3 = $3,000). This number is different from the money that will be used for closing (i.e. down payment, transfer taxes, etc). Being prepared can increase your chances of successfully closing the deal.
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