Delaware residents who place their homes on the market should be prepared for the fact that their homes may not sell right away. Not every area in the country is a seller's market in which homes can receive multiple buying offers that are above asking price. Individuals who are struggling to sell their home may want to take the time to consider why their home is not attracting the buyers they want.
Why homes will not sell
Mortgage insurance and down payments
Potential homeowners in Delaware often believe that they must have 20 percent of the total sale price available for a down payment in order to purchase a property. Given the prices of real estate, this figure can seem to put homeownership well out of the reach of many individuals, couples and families. However, it does not actually take one-fifth of the total purchase price in cash in order to be able to buy a home. The difference between the cash down payment and this amount is guaranteed by mortgage insurance.
