Posts Tagged with ‘Real Estate News’
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Home Buying 101: #3 Opening Escrow
27 Feb 2012What happens after I’ve made an offer to buy a house? Congratulations on falling in love and making an offer! This is what to expect for the next 30 days until your escrow closes. Offer accepted by seller Escrow is opened with buyer’s good faith deposit (usually 3% of the cost) You or your awesome agent will notify your lender that you have an acceptance “Contingency period” starts–17 days to do all property inspections Your bank will order the property appraisal to determine the value You’ll sign lots of real estate paperwork, including a TDS (Transfer Disclosures) where the seller reveals everything known about the property You’ll start getting lots of paperwork to sign from your escrow & title companies After your inspections, but before your contingency period expires, determine if you need to request repairs or credits for repairs from the seller Seller will either accept, counter or reject your request Assuming an agreement, you’ll get your loan documents in about 2 more weeks Sign your loan docs usually at the bank, at escrow or with a notary in your home Bring in your closing funds to escrow (remaining down payment + closing costs) Your loan will fund a…
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Home Buying 101: #2 What Kind of Home to Buy?
23 Feb 2012Nothing obliterates fear like information–-lots of it. In this post, I’ll discuss the pros & cons between condos, units and single family homes to help you determine which is best for you. Knowledge is power and I want my buyers to be the most knowledgeable buyers out there. If you have any questions not covered here, or a general question about real estate, contact Vanessa. Should I consider a condo, multi-unit or single family home? Again, this is only something you can determine. Things to consider: Condos Pros: Condos are usually cheaper and the price can sometimes afford you access to your 1st choice location. They’re relatively low maintenance with no yard and generally, no exterior upkeep costs–unless you have a badly managed HOA and they decide to increase your HOA dues to say, cover a new roof. Condo Cons: Mandatory Homeowner’s Association (HOA) dues typically between $200-400 per month, HOA regulations might impose strict rules that you have to abide by; these rules can mandate anything from whether or not you can have pets to how you decorate your private balcony. It’s very important to review the HOA’s CC & Rs to determine whether a condo complex is right…
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Home Buying 101: #1 How To Buy a House
22 Feb 2012Nothing obliterates fear like information–-lots of it. In this post, I’ll do my best to answer questions most frequently asked by new home buyers. Knowledge is power and I want my buyers to be the most knowledgeable buyers out there. If you have any questions not covered here, or a general question about real estate, contact Vanessa. Buying a House, in Brief Obtain a loan Contact an awesome real estate agent Determine what features you want in a house Be clear with your agent about what you like/don’t like Be realistic about what you want Fall in love – make an offer Buying a House, in Detail Is this good time to buy a home? Yes. Prices are low, inventory is high and mortgage rates are very low. It’s the trifecta new home buyers dream of and it’s happening right now. As someone who has purchased in “high” and “low” markets, the timing doesn’t matter as much as whether or not you’re ready and wanting to buy. Should I buy a home? Are you tired of renting? Do you feel renting isn’t giving you the benefits of home ownership? Are you tired of dealing with your landlord? Irritated that you…
