Topic : Home Buying Tips
What Are Contingencies and Why Are They So Important?
by Sandy Gadow, Author, President, EscrowHelp.com
TIP: Contingencies protect both parties from any surprises and leave a way out of the contract. They should be carefully drafted and can be made specific to your particular transaction. A contingency is a condition in a Purchase Agreement which states that the agreement is reliant upon certain events taking place, such as approval of a […]
10 Often Overlooked Real Estate
Tax Deductions
Reprinted Compliments of Fidelity National Title Insurance Company
1. Home acquisition mortgage loan fees. If you have bought a primary or secondary home in the past year, you probably obtained a mortgage to finance the purchase. That mortgage is called an “acquisition mortgage” because it enabled purchase of the residence. If you paid a loan fee to obtain that acquisition […]
7 Ways to Accumulate A Down Payment
Reprinted Compliments of Fidelity National Title Insurance Company
One of the biggest problems facing potential buyers today is coming up with enough money for the down payment and closing costs. The amount of money you have available can greatly limit or increase your purchasing power. Rather than saving all of the money yourself, there are options that may help. […]
Buyer’s Home Closing Checklist
by Sandy Gadow, Author, President, EscrowHelp.com
Have you made a final walk-thru inspection of the property? Is the condition of the house or property as it should be? Are there any personal property items left behind by the Seller. Is everything in working order? Did you order a Home Warranty policy for future repairs? If so, did you review that policy? Are […]
Important Escrow / Settlement Terms
Reprinted Compliments of Fidelity National Title Insurance Company
Broker: This is the person who represents the buyer/seller during a real property transaction. When buying or selling real estate through a broker, you are protected by dealing with a party who is operating under state license. Escrow: This means to deposit money and documents with an escrow agent, usually in the […]
What Is A Preliminary Title Report?
Reprinted Compliments of Fidelity National Title Insurance Company
A preliminary report is designed to facilitate the issuance of a particular type of policy. The preliminary report identifies the title to the estate or interest in the described land. It also contains a list of defects, liens and encumbrances and restrictions which would be excluded from coverage if the requested policy were to be […]
Buyers and Sellers Costs:
Who Pays What…
Reprinted Compliments of Fidelity National Title Insurance Company
The Seller Generally Pays: Real estate commission Document preparation fee for deed Documentary transfer tax Any city transfer/conveyance tax (according to contract) Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer) Interest accrued to lender being paid off, statement fees, reconveyance fees […]
Buying? 8 Reasons To
Work With A Realtor®
by Sharon Hassler, President, Go Get Experts, LLC
When you see the term Realtor®, it means a member of the National Association of Realtors®, a real estate trade association. All Realtors® are licensed real estate agents but not all real estate agents are Realtors®. Buying a home can be a real challenge especially if you attempt it alone. Here are some of the benefits […]
The Scoop on Home Inspectors
by The Motley Fool
When you’re buying a home, you’ll probably include a home inspection as a contingency in your contact with the seller. If you’re a first-time home buyer, you may not know a home inspector or what to expect. Here are some tips on what to look for in a home inspector… Read the complete article here: The […]
11 Steps to Buying A Home
by Sharon Hassler, president, Go Get Experts, LLC
First, find a Realtor® you like and trust. Buying a home may be your biggest financial decision so step one should be selecting a Realtor® you’re comfortable with. Find an agent you’ll want to confide in and spend time with while searching for your dream home and throughout the escrow-closing process. The right real estate […]