Robin V. Wish - Real Living Suburban Lifestyle Real Estate



Posted by Robin V. Wish on 8/10/2020

Image by mohamed Hassan from Pixabay

The last step of any home sale is the closing. This is the time when the buyer and seller sign all the documents surrounding the sale, including the documents for the buyer’s mortgage. This is when money changes hands and, in most cases, the buyer gets the keys to the home. If you’ve never attended a closing before, or it’s been a while, here’s what you can expect.

Before the Closing

Before the closing takes place, the buyer and seller will meet at the property for a final walkthrough. This gives the buyer the chance to inspect the home to make sure nothing changed in its condition between the inspection and the closing date. Buyers will look for damage to the property or items that aren’t working properly.

Who Attends the Closing

The closing is the next step. Both the buyer and seller with their respective real estate agents will be there. If anyone used a real estate attorney, that attorney will attend. A closing agent will conduct the meeting, and the lender may send a representative. Finally, someone from the title company will be in attendance.

Presenting & Signing the Documents

The main task that takes place at closing is the signing of documents. The buyers will go through about 50 to 100 pages of documents, many of which require a signature. Many of the documents are related to the buyer’s mortgage. The buyer will need to show proof of insurance, pay the closing costs, which are typically 2 to 5 percent of the home’s value, and fund the escrow, unless the seller offered to cover closing costs. Some of the documents relating to the mortgage that the buyer will need to sign include:

  • Final loan application

  • Mortgage agreement

  • Mortgage note

  • Loan estimate and closing disclosure

  • In addition to the mortgage documents, both the seller and buyer will need to sign several things, including:

  • The property’s deed

  • Bill of sale

  • Transfer tax declarations

  • At this point, any necessary payments are made, and the closing agent will write checks for the real estate agents' commissions. As long as there are no delays for funding, the keys change hands and the buyer becomes the home’s new owner.

    Potential Problems at Closing

    Most closings happen without any issues, but there are some problems that can arise on that day. It’s on the closing day that the final approval of the mortgage takes place. If the lender finds something surprising, like a change in employment or credit history, they could deny the loan. Also, title problems can pop up at closing that went undetected during negotiations. Finally, problems found during the final walkthrough could lead to delays at closing.

    Being well prepared for closing can help both buyers and sellers avoid these types of problems. With the right knowledge ahead of time, you can walk into closing confidently, knowing your real estate transaction will be completed in just a few hours.




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    Posted by Robin V. Wish on 6/8/2020

    The homebuying journey may be long and arduous, regardless of whether you're pursuing a house for the first time. However, if you bring your A-game to the homebuying journey, you can speed up the process of finding and acquiring your dream residence.

    Now, let's take a look at three tips to help you bring your A-game to the homebuying journey.

    1. Establish Homebuying Criteria

    There is no need to waste time and resources as you search for your ideal residence. Thankfully, with homebuying criteria in hand, you can streamline your home search.

    Consider the cities and towns where you may want to reside. Then, you can narrow your house search to a select group of cities and towns.

    Also, think about the features you want in your dream house. If you want to own a residence that offers a beautiful outdoor swimming pool, for example, you can hone your house search accordingly. Or, if you require a home that provides multiple spacious bedrooms, you can pursue houses that match your criteria.

    2. Get Pre-Approved for a Mortgage

    Pre-approval for a mortgage is paramount, particularly for homebuyers who want to know exactly how much they can spend on a residence. If you meet with banks and credit unions, you can get pre-approved for a mortgage in no time at all.

    Of course, when you meet with banks and credit unions, don't hesitate to ask home financing questions. Banks and credit unions employ knowledgeable home financing professionals who can teach you about the differences between fixed- and adjustable-rate mortgages and much more. As such, these professionals can help you make an informed mortgage selection.

    You should consult with a variety of banks and credit unions, too. That way, you can learn about all of the mortgage options at your disposal and choose a mortgage that suits you perfectly.

    3. Work with a Real Estate Agent

    Ultimately, there is no reason to work alone when you search for your ideal home. But if you hire a real estate agent, you can receive expert guidance as you navigate the homebuying journey.

    A real estate agent knows the ins and outs of the housing market and is happy to share his or her homebuying insights with you. Plus, a real estate agent will craft a plan to help you quickly discover your dream home. And if you are concerned about acquiring a house at the lowest-possible price, a real estate agent is ready to negotiate with a home seller on your behalf as well.

    Furthermore, a real estate agent can guide you through the home closing cycle. He or she will help you finalize your home purchase and ensure you can relocate to a new house without delay.

    Bringing your A-game to the homebuying journey can make a world of difference in any housing market. By using the aforementioned tips, you can simplify your home search and accelerate the process of acquiring your dream residence.




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    Posted by Robin V. Wish on 2/17/2020

    Image by StockSnap from Pixabay

    The perfect home is not the only thing you'll need to shop for when you want to become a homeowner. In order to get the best terms, the lowest monthly payment and a reasonable interest rate, start doing some homework now -- before you even attend your first open house. 

    1. Check Your Credit Score

    Checking your credit score should be the first thing you do when you're considering the purchase of a home. Why? Because every lender you speak to will use it as a benchmark for determining the likelihood of you being able to pay off the debt. The better your credit score, the more favorable terms and interest rates a lender might offer you. The earlier you know your credit score, the more time you have to address any issues that might be contained in it. Remember, you're entitled to one free credit report from each of the three reporting agencies each year. Take advantage of this service and keep tabs on your credit score. 

    2. Have Steady Employment 

    Being able to demonstrate that you are gainfully employed will go a long way toward qualifying for a mortgage loan and being offered attractive interest rates. Aim for at least two years of unbroken employment. Be ready to back up your claims regarding the duration of your employment and the dollar amounts you bring home. 

    3. Offer a Sizable Down Payment 

    Come to the negotiating table with a lender and with a solid down payment, you'll be able to enjoy lower monthly payments. There's no fast rule regarding the amount of a down payment. That being said, most lenders like you to have at least 20 percent of the home's purchase price as the down payment. There are some lenders, however, who accept less than 20 percent. If your lender accepts down payments that are less than the standard 20 percent, expect to have to purchase private mortgage insurance. This can be anywhere from .05 percent to 1 percent. 

    4. Know Your Debt To Income Ratio

    The debt to income ratio demonstrates your ability to pay off the mortgage as agreed upon. Most lenders like to see that your monthly debt payments are equal to or less than 43 percent of your gross monthly income. 

    In a seller's market, there might be several people vying for the same home. Addressing the items above can make you look more attractive compared to some of the other potential home buyers. 




    Tags: buyer tips   loan   credit score   planning  
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    Posted by Robin V. Wish on 2/3/2020

    The amount of time it takes to find the perfect residence varies from buyer to buyer. In some instances, a buyer may fall in love with the first residence that he or she views in person. Or, in other cases, a buyer may need to attend several home showings and open house events before he or she finds the right residence.

    It ultimately may take more than a single day to find your dream residence. Lucky for you, we are here to help you streamline your quest for your dream house and ensure you can find the right home faster than ever before.

    Now, let's take a look at three tips to help you accelerate your search for your ideal house.

    1. Create a List of Homebuying Criteria

    You know you want to buy a home as quickly as possible. With a list of homebuying criteria at your disposal, you'll be better equipped than ever before to discover a house that suits you perfectly.

    Think about where you'd like to reside and the features you want in your dream house. Then, you can narrow your house search and move one step closer to finding a residence that matches or exceeds your expectations.

    2. Get Your Finances in Order

    Pre-approval for a mortgage can make a world of difference, particularly for a buyer who wants to speed up his or her home search. If you learn about all of your mortgage options, you can select a mortgage that complements your finances and enter the real estate market with a mortgage in hand.

    Many banks and credit unions employ friendly, knowledgeable mortgage specialists. By meeting with various financial institutions, you can learn about a broad array of mortgage options. Plus, you can receive comprehensive insights into fixed and adjustable-rate mortgages and make an informed mortgage selection.

    3. Collaborate with a Real Estate Agent

    For those who want to quickly and effortlessly find their dream residence, it may be beneficial to collaborate with a real estate agent. In fact, a real estate agent can help a homebuyer remove the guesswork commonly associated with searching for a residence.

    A real estate agent understands what it takes to discover a great residence at a budget-friendly price. First, he or she will meet with you and learn about your homebuying goals. A real estate agent then will put together a personalized homebuying strategy. Next, a real estate agent will help you put your homebuying strategy into action. And when you discover your dream residence, a real estate agent will help you submit a competitive offer to purchase this house.

    As you get ready to conduct a house search, you may want to hire a real estate agent soon. If you have an expert real estate agent at your side, you can get the help you need to find your dream house. Best of all, a real estate agent will go the extra mile to ensure you can seamlessly navigate all stages of the property buying journey.




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    Posted by Robin V. Wish on 12/9/2019

    If you want to enjoy a successful homebuying experience, it may be beneficial to hone your house search to residences in a select group of cities and towns. That way, you can speed up the process of finding and buying your dream residence.

    Now, let's take a look at three tips to help you narrow your house search.

    1. Review Your Short and Long-Term Goals

    Consider your immediate and long-term goals. By doing so, you can focus on finding a home that falls in line with your aspirations.

    For instance, if you want to work in the big city, you may want to search for residences in or near the city itself. On the other hand, if you have children, you may want to explore houses near top schools and parks.

    Be flexible as you consider homes in assorted cities and towns, too. If you are open to homebuying opportunities in different areas, you may be able to quickly find a great residence at a budget-friendly price.

    2. Obtain a Mortgage

    With a mortgage in hand, you'll know exactly how much you can spend on a house. Then, you can narrow your home search to residences that correspond to your budget.

    Meet with a variety of banks and credit unions, and you can get pre-approved for a mortgage. Banks and credit unions employ friendly, knowledgeable home financing specialists, and these professionals can help you determine which type of mortgage will suit you perfectly.

    Also, you may want to ask questions as you review your mortgage options. Home financing specialists at banks and credit unions are happy to reply to your mortgage questions, and ultimately, help you make an informed mortgage selection.

    3. Consult with a Real Estate Agent

    Finding a home in a particular city or town may be tough, especially if you try to navigate the real estate market on your own. Conversely, if you hire an real estate agent, you can get the help you need to discover your dream house.

    A real estate agent is a homebuying expert who will go above and beyond the call of duty to transform your homeownership dream into a reality. He or she first will learn about your homebuying goals and budget. Next, a real estate agent will provide you with details about available homes in myriad cities and towns. A real estate agent then will help you kick off a home search so you can locate your ideal house.

    Of course, once you discover your dream home, a real estate agent will help you submit a competitive offer to purchase this residence as well. And if your homebuying proposal is accepted, a real estate agent will devote the necessary time and resources to ensure you can immediately finalize your home purchase.

    Take the guesswork out of finding your dream residence use the aforementioned tips, and you can boost the likelihood of acquiring a terrific house that you can enjoy both now and in the future.




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