Home - Purchase/Rent Credit Pr
Important facts that should be determined by prudent consumers BEFORE entering into any type of home purchase/rent credit program include, but are not limited to, the following: 1. The name and reliability of the firm that will build the house. 2. Where any escrow monies are to be deposited, and who will be responsible for keeping records and reporting progress to the participants. 3. Policies regarding the possibility of obtaining refunds of monies paid into the program if financing is not obtained, or if for any other reason the consumer or the firm desires to terminate the program. The purchase of a home is in many cases the largest investment a consumer will ever make. Those inexperienced in complex real estate and financial matters should seek advice from competent individuals who have knowledge and experience in these fields and in whom the consumer has confidence. Those lacking legal knowledge should have complex contracts and documents reviewed by a competent attorney BEFORE signing.