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Harness The Web To Sell Your Home
The majority of people in the UK who are looking to move house use the internet to find properties for sale. So it makes sense to ensure that your property is on the web if you want to sell. If you are with an estate agent, most will list your...
Real Estate - Tips For First Time Buyers
First time home buyers face many challenges in understanding the process of purchasing a home, obtaining a mortgage, and knowing which type of loan will best suit their needs. Advice from well meaning loved ones can be helpful, but buying a home...
Selling Mobile Homes Information
Statistics show that there is a spurt in the number of people opting to own and live in mobile homes. For some, selling mobile homes is a business, while for others it is a process for when they prefer to move from a place to another.
Before...
Selling Your Home On Your Own – Examples Of Problems And Solution
What can go wrong? About a gazillion things, but this is true if you’re working with a broker, too. A broker is probably more experienced than you, and may well have confronted and solved your problem on a previous home sale. If you can stay calm...
The Basics Of Real Estate License
Real estate is an industry that can help people experience great wealth. Many of the worlds richest people have made their money through real estate. It is no surprise that many people are looking into real estate as a career. Getting a real estate...
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Part VI: Home Buyer Terms and Definitions
Recording Fee - A charge for recording the transfer of a property, paid to a city, county, or other appropriate branch of government.
Real Estate Settlement Procedures Act (RESPA) - A federal law requiring lenders to provide home buyers with information about known or estimated settlement costs. The act also regulates other aspects of settlement procedures.
R-Value - The resistance of insulation material (including windows) to heat passing through it. The higher the number, the greater the insulating value.
Sales Contract - A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms.
Settlement - (See Closing).
Shared Appreciation Mortgage - A loan in which partners agree to share specified portions of the downpayment, monthly payment, and appreciation.
Tenancy in Common - A form of ownership in which the tenants own separate but equal parts. To inherit the property, a surviving tenant would either have to be mentioned in the will or, in the absence of a will, be eligible through state inheritance laws.
Title - Evidence (usually in the form of a certificate or deed) of a person’s legal right to ownership of a property.
Transfer Taxes - Taxes levied on the transfer of property or on real estate loans by state and/or
local jurisdictions.
Veterans Administration (VA) - A federal agency which insures mortgage loans with very liberal downpayment requirements for honorably discharged veterans and their surviving spouses.
Walk-Through - A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands.
Warranty - A promise, either written or implied, that the material and workmanship of a product is defect-free or will meet a specified level of performance over a specified period of time. Written warranties on new homes are either backed by insurance companies or by the builders themselves.
Zoning - Regulations established by local governments regarding the location, height, and use for any given piece of property within a specific area.
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About the author:
Mark Mathis is a building designer and publisher of several stock house plan websites and informational resources including http://www.HousePlanCentral.com,
http://www.HousePlanGallery.com, and http://www.moneytalks-bswalks.com. Be sure to visit each site and subscribe to our eNewsletters to receive special offers, promotions, and subscriber-only features.
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