Below are some common real estate contract terms that every home buyer and seller should know. Appraisal: An “opinion” of a home’s market value by a licensed appraiser. BINSR: (Buyer’s Inspection Notice, Seller’s Response.) This is the contract used for the buyer to tell the seller what they are requesting
Review Your Closing Disclosure: This document is TIME SENSITIVE, so it’s imperative that you look it over for accuracy and acknowledge receipt of it or you could delay closing. Review Your Settlement Statement: This document outlines all of the costs associated with your real estate transaction and closing funds. Your
The following list is to provide you with a brief overview of some of the most requested inspections that are conducted by Buyers. Before you select your inspections, share your thoughts and concerns with your REALTOR®, so that they may provide you with additional considerations and make suggestions based on
Federal Housing Administration (FHA)The most common type of financing utilized in home purchases due to its less-stringent Buyer qualification requirements. Downpayment: 3.5+% of purchase price. Veteran’s Affairs (VA) Financing specifically for active duty, past US Military personnel, or survivors. Proof of veteran status is usually provided via their DD214. Downpayment:
Active Active properties with no offers or contingencies. Active Contingent An offer has been accepted but the seller may still be permitting showing appointments and may still accept backup offers. Pending An offer has been accepted and the seller is not allowing showing appointments or backup offers. Pending Short Sale
Regardless of the property type you’re interested in, always consult your REALTOR® first.It’s our speciality. Give yourself an edge over other Buyers during your property search by understanding the local real estate terminology for Residential Searches utilized in our MLSSAZ system. This will also better help you express your property
What Does it Mean to be a Realtor®. REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers: 1. AN EXPERT GUIDE. Buying a home can be a complex process that
Communication in the Real Estate Industry is Key to Success Communication is the key to building trust and rapport with my clients. That is why I always strive to communicate with you in the way that you prefer, whether it is by phone, text, email, or any other channel. You
Today we’ll begin the exciting process of preparing your property for sale and creating a complete marketing and sales plan to meet the needs of your real estate listing. It is important to keep in mind that selling real estate is a complicated process. I will be working hard to
What is an Encumbrance in Real Estate? An Encumbrance is any claim against an asset by an entity that is not the owner. For example; liens, easements, leases, mortgages, or restrictive covenants. Encumbrances impact the transferability and/or use of subjected properties. Not all of these encumbrances will prevent a property
