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Frequently Asked Questions (FAQ) |
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Buyers Information: Information about buying a home. Includes;
Seller's Information: Information every Seller should know;
Relocation: New to the Area? Moving Out of the Area? I am plugged into the Windermere network to make relocation to unknown areas easier to live with. Common Real Estate Principles Appraisal I can give you an opinion on market value to establish a market price, to establish basis for Estate planning purposes, or whatever reason you have. In addition, I can refer you to a fee appraiser, if your circumstances require another opinion. Also, if there will be financing involved, the lender will most likely require a fee appraisal any way. Lenders There are a lot of good sources for mortgages. You might choose your commercial bank, a mortgage broker, or in some instances use seller financing. There are a lot of different mortgage plans that can do different things for you, depending on what your needs are. I am happy to discuss the various things you should consider when evaluating mortgages and where to get them. Escrow Escrow agents are independent third parties to the transaction that actually represent both the seller's and the buyer's interests and make sure that all the monies are handled correctly and the title is transferred correctly. Typically, both the seller and the buyer, have an escrow fee to close a transaction. Most fees are based on a percentage of the sales price. Most of the transactions are closed by either, the title company's escrow department, or an independent escrow company. This is one of the terms agreed to by the parties to a transaction. Again, I can refer you to an escrow company that will meet your needs. Title Insurance Typically, the seller purchases a title insurance policy for the buyer and the buyer purchases a policy for the lender. This is a typical closing cost on most Real Estate transactions. I can refer you to an excellent title company. Inspectors A common aspect of most residential Real Estate transactions today is a general inspection on the premises. A home inspection is a condition report prepared by an inspector who is trained in what to look for to properly evaluate the condition of the property. This is not a structural inspection, a licensed engineer is required for that. An inspection is a very good idea and will give you a lot of information. It is only a part of the process of checking out a property before you purchase. Typically, the things that are found on an inspection are things that the seller is already aware of and are of a maintenance nature, or they are deficiencies that the seller wasn't even aware of. The inspection is good business for both the buyer and seller because it helps establish the condition of the property at the time of sale. I can refer you to a qualified inspector. Contractors Sometimes you need a licensed contractor to complete work orders, improvements, and or repairs. I can refer you to qualified people who can accomplish what you need. An important consideration in a Real Estate transaction is timeliness. To make sure that closing isn't delayed careful planning is a must. Also, hiring contractors who are familiar with what inspectors and lenders are looking for makes the transaction smoother. Whether you need a roofer, a plumber, carpet layer, etc... I can refer you to a competent contractor. Tax Planning Taxes can be an important part of what you are doing with your Real Estate. Whether you are buying or selling, taxes can have an impact and should be considered before you make any agreements. I can refer you to an expert tax planner if you need one. Estates As I mentioned above I can be of assistance with estates. Your attorney may require that you establish the basis of your property for planning or probate purposes. I can either give an opinion as to value or refer you to a fee appraiser, depending on your wants and needs. Legal Advice A licensed attorney who works with Real Estate matters is the only person qualified to give you legal advice. I can refer you to some excellent attorneys. In most residential transactions everything is very straight forward and an attorney is most likely not needed. |
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