What Is A Real Estate Agent? Real estate agents are professionals licensed to organize and assist in real estate transactions, and are most often paid on commission. They may work independently or on behalf of a brokerage or another agent. There are three types of real estate agents involved in the sale of property: Listing […]
You’ve found your dream home, made an offer and had it accepted by the seller. You’ve ordered a home inspection and resolved any issues the inspector found. Now, you’re ready to close on the mortgage loan that finances your home purchase. It’s normal to feel nervous during the closing process– especially as your closing day […]
What Is A Dry Closing And What States Have Wet And Dry Funding? What Is A Dry Closing In Real Estate? A dry closing is a type of closing where funds are disbursed a few business days after the documents are completed and mortgage lender requirements are satisfied. For this to happen, all parties involved […]
What Is A Lender Credit? During the last stages of your loan, your mortgage lender will pay for necessary services such as a home appraisal and any pest inspections that your state may require. The lender then charges these services to you in the form of closing costs. If your lender offers you credits, it […]
Why Should You Pay Earnest Money? Earnest money isn’t always a requirement, but it could be a necessity if you’re shopping in a competitive real estate market. Sellers tend to favor these good faith deposits because they want to ensure that the sale won’t fall through. Earnest money can act as added insurance for both […]
When it comes to buying a new home, it may seem like the home’s selling price is never as straightforward as you might expect. On top of the price tag, there are always additional fees and costs reflected in the transaction. Most home buyers expect to cover the down payment and closing costs, but buyers […]
When you buy a house, your mortgage lender will require you to purchase homeowners insurance to ensure their interest in the property is protected in the event of a disaster. The cost of this insurance will depend on a number of factors, including how much your homeowners insurance deductible costs – something you can choose. […]
What Is A House Title? A house title is the ownership record of a property The title shows who’s owned the property in the past, contains a physical description of the property and shows any liens on it. If you just bought the home, your mortgage will be on the title as a lien. It’s […]
What Is A Final Walk-Through? A final walk-through is an important step in the home buying process. It provides an opportunity for home buyers to inspect the house before the official closing. The final walk-through allows the buyer and their real estate agent to go through the house room by room. First, the walk-through is […]
What Is A Seller’s Disclosure? A Seller’s Disclosure is a legal document that requires sellers to provide previously undisclosed details about the property’s condition that prospective buyers may find unfavourable. This document is also known as a property disclosure, and it’s important for both those buying a house and for those selling a house. The […]