The spring has finally come! With the fresh flowers and warming winds comes a very different spring season. If you’re preparing for a home inspection in 2021, be prepared. There are several steps to take before, during, and after the home inspection. Being aware of these steps and the new rules around them for Spring 2021 can make the difference between a smooth process and a chaotic mess. In this article, we will discuss preparation for a home inspection and make sure your home inspection questions are answered.
A home inspection is an assessment of the home’s condition. Conducted by…
Are you anxiously awaiting a home appraisal?
This part of the home-selling process can be stressful and leave many sellers anxious over what to expect. What questions will be asked at a home appraisal?
How long will an appraisal take? An appraisal can seem like a simple process, but many homeowners have questions on what to expect in a home appraisal.
Buying or selling a home or other piece of real property usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the protection of buyer, seller and lender, the escrow process was developed.
As a buyer or seller, you want to be certain all conditions of sale have been met before property and money change hands. The technical definition of an escrow is a transaction where one party engaged in the sale, transfer or…
FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission.
6% may not sound like a lot, but it can add up, especially on more expensive homes. But before you run off and decide to sell your home FSBO, you must remember that to get a savings like that, there must be a cost. So what’s the catch? Selling FSBO is hard…
It used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.
Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for.
However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application…
After months of searching, you’ve finally found it — your perfect dream home. But is it perfect?
Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that will restrict your use of the property?
The preliminary report will provide you with the opportunity, prior to purchase, to review matters affecting your property which will be excluded from coverage under your title insurance policy unless removed or eliminated before your purchase.
To help you better understand this often bewildering subject, the Land Title…
When preparing to buy a home, the first thing many home buyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. However, the next thing you should do, before you call on an ad, before you shop for interest rates or talk to a realtor, — is look at your savings.
Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home — including how you write your purchase offer, the loan…
An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale?
A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining balance. Selling your home as a short sale is one way to avoid foreclosure.
As a general rule, lenders lose money when they foreclose on a property. Consequently, they would rather not have to foreclose if it can be avoided. …
Real property can be incredibly valuable and the question of how parties can take ownership of their property is important. The form of ownership taken — the vesting of title — will determine who may sign various documents involving the property and future rights of the parties to the transaction. These rights involve such matters as: real property taxes, income taxes, inheritance and gift taxes, transfer-ability of title and exposure to creditor’s claims. Also, how title is vested can have significant probate implications in the event of death.
How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about 1% below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not have to document your income, savings history, or source of down payment? How would you like a mortgage payment of only 1.95%? You can have all that with the 11th District Cost of Funds (COFI) Adjustable Rate Mortgage.