Homeowner’s Insurance

Most lenders require homebuyers to carry homeowner’s insurance.  This is a hazard insurance policy designed to cover your property against peril. Most homebuyers elect to take out a comprehensive homeowner’s insurance policy.  This type of coverage covers the cost of rebuilding your home, your possessions, liability, vandalism, theft, water damage (not flood related) and loss…

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Escrow

Escrow is “a deed, a bond, money or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition,” as defined by Webster. It exists to provide confidentiality and impartiality during a real estate transaction. Escrow exists because buyers, sellers and lenders…

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Real Estate Glossary

Appraisal – An opinion of value based upon of factual analysis. Appraisal Methods – Generally, there major methods – Cost approach, Income approach, Market Value (comparables) approach. Appreciation – An increase in value of real estate. Assumption of Mortgage – The taking of title to property by a grantee, wherein he or she assumes liability…

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Open Houses

An open house is your chance to show home buyers exactly what they will get when purchasing your property. It is your chance to show off. Remember that first impressions are vital in the home selling process, so it is important to go through your property to make sure you create exactly the impression you…

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Closing Costs

Closing costs, or the fees associated with buying and selling real estate property, can be divided into three basic categories; lender fees, prepaid and settlement costs. Lender fees may include points, appraisal, credit reporting, underwriting, settlement and tax service fees.  Prepaid fees may include interim interest, real estate taxes and escrow, and insurance premiums and…

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Seller Essentials

Between understanding your market, pricing your home, marketing, negotiating a contract, and a host of other difficulties, home selling can seem like a difficult and complex task. This is where a good real estate agent comes in. A good real estate professional can make the home selling process easy and enjoyable. The pages in this…

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Pre-Approval

Imagine finding the property of your dreams, only to have your loan application denied. Countless hours spent searching, not to mention your emotional investment, all wasted. This can be an incredibly disheartening experience. To prevent this from happening, the first thing your real estate agent will have you do is get pre-approved. Pre-approval lets you…

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