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Foreclosure Alert
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Curious about the savings you can have with a short sale or foreclosure? Check this out!
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Home Buyers
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Browse the Home Buyer reports. Great advice for home buyers.
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Home Sellers
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Browse the Home Seller reports. Great advice for home sellers.
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Blog Post for 5/29/2011 - Debtors can use Bankruptcy to Eliminate Junior Liens and Stay in their HomesA little known rule about ..
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| Mortgage Funding Info - Mortgages for commercial deals can be funded if you know how to write a successful presentation.
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| Credit Info - Your credit score is based on the information contained in your credit report.
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| Fico Scores Effect Purchasing - FICO scores were developed by Fair Isaac & Company, Inc. for each of the credit repositories.
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| Property Rights - You have a right to do with the land as you please, subject to restrictions imposed by law.
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| Real Property Definition - Real property is generally defined as land and the things permanently attached to the land.
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| Property Investment - Is Real Estate A good Investment? This report will try to answer that question.
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| Property Trust(s) - The REIT Story Real Estate Investment Trusts (REITs) were created by Congress in 1960 but played a very limited role in real estate investment for more than three decades.
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| Negotiating a Contract - If the terms and conditions of the deal aren't acceptable, you might want to pause and think twice.
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| Brentwood Real Estate Negotiation - Negotiating a purchase agreement is perhaps the trickiest aspect
of any real estate transaction.
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| Dont Let It Fall Through - What makes a deal fall through? Avoid the common pitfalls!
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| Sell Your Brentwood Home Fast - Should you hold out until you have an offer that matches your asking price?
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| Brentwood Real Estate Tax Advice - Selling a home can have
a major impact on your federal and state tax returns.
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| Property Inspection - Regardless of what the inspector may uncover, you shouldn't be
overly concerned about the actual home inspection
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| Pick An Offer - Picking among several offers isn't always as easy as choosing the highest price, especially in hot markets.
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| Open House Expectations - Was vacating your home for four or five prime-time hours worth the
inconvenience?
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| Your Open House - Public open houses may be more beneficial for the
agents themselves than for the home sellers.
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| Marketing Info - Your broker's marketing efforts and considerations will
include advertising, showing the property, how long the house has been on the
market and whether you're buying another home.
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| Listing Brentwood Real Estate - A listing agreement is a binding legal contract that shouldn't be taken lightly.
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| Selling My Property - The age-old observation that "you never get a
second chance to make a first impression" certainly applies when it comes to
attracting buyers to a for-sale home.
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TOPICAL REAL ESTATE DICTIONARY
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Top 20 Terms
amortization
The process of
paying the principal and interest on a loan through regularly scheduled
installments. Initially, most of each payment is applied toward interest owed,
and later in the loan term increasingly applied toward
principal.
appraisal
An opinion of the value of a property at a given point in
time.
closing
The final procedure in which documents are signed and recorded and
the property is transferred.
comparative
market analysis
An estimate of the value of a
property based on an analysis of sales of properties with similar
characteristics.
credit
report
A detailed account of an individual's
credit, employment, and residence history. A lender uses this report to
determine a loan applicant's creditworthiness.The three largest credit bureaus
are Trans Union Corp., Equifax, and Experian (formerly TRW).
disclosure
A statement to a
potential buyer listing information relevant to a piece of property, such as the
presence of radon or lead paint.
escrow
A neutral third party
holds documents and money for a real estate transaction and ensures that all
conditions of a sale are met. Also refers to a special account that a lender
uses to hold a borrower's monthly payments on property taxes and
insurance.
home
inspection
An examination of a home's
construction, condition, and internal systems by an inspector or contractor
prior to purchase.
homeowner's
insurance
This insurance includes hazard
coverage for any damages that may affect the value of a house, in addition to
personal liability and theft coverage.
interest rate
The fee,
expressed as a percentage, charged for a loan. The interest rate also helps
determine the monthly payment. For adjustable-rate loans, the interest rate may
change from its initial level.
mortgage
In casual use, a sum
of money borrowed to purchase a home at a certain interest rate using the
property as collateral. In formal use, a mortgage is the legal document that
pledges property as collateral for a loan.
multiple listing service (MLS)
A service that combines listings of all available homes in an area
into one directory or database, with the exception of For Sale By Owner (FSBO)
properties.
point
An amount equal to 1 percent of the loan amount. Points may be paid
by the borrower at the time the loan is made to get a lower interest rate.
Lenders offer various rate/point combinations.
prequalification
A lender's
preliminary assessment of a buyer's ability to pay for a home, and an estimate
of how much the buyer may borrow.
property
tax
Tax paid on privately owned property.
Property taxes are usually paid semiannually, or monthly if the lender requires.
The amount is based on local tax rates and assessed property
value.
purchase
agreement
A document that details the purchase
price and conditions of the transaction.
refinancing
The process of
replacing an older mortgage with a new mortgage that has better
terms.
title
The legal document conferring ownership of a piece of real
estate.
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