Title Commitment? Title Insurance? Title Company?? What is all this… and do I need it?

Kate Marrone First Time Homebuyer Info, Info on Real Estate Transactions Leave a Comment

Title work reveals who may have interests to the subject property and to what extent.  Title commitment describes what has been uncovered regarding the property, what has to take place for a policy to be provided and what can and can not be covered.  Title insurance is the guarantee that the buyer/seller purchases to ensure there are no other potential …

Six Steps to Transfer Title… by Stewart Title

Kate Marrone First Time Homebuyer Info, Info on Real Estate Transactions Leave a Comment

There are 6 Basic Steps the Title Company performs in order to successfully transfer the title of a property from Seller to Buyer.  They are: 1. Earnest Money escrowed 2. Tax Certificate 3. Title History Research 4. Title Examination 5. Document Preparation 6. Closing & Settlement Click below for an illustration of the sequence of events to transfer title via Stewart …

Why Care About Credit Anyway?

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Why care about your credit score, anyway? If you’re considering purchasing a home, here’s an example of the impact different credit scores can make on your interest rates… which translates to your monthly payments… which dictates the price of the home you can afford. Example: 719 credit score $1,900/month for Home “A” -40 679 credit score +$60 $1,960/mo for same …

Recipe for a “healthy” credit report

Kate Marrone Info for Home Buyers, Info on Home Financing

What does a “healthy” credit report look like? I’ve read very similar opinions on the “ideal” credit report from a variety of courses including Money magazine, the free annual credit report website, a few different finance books, Kiplinger’s, and others.  The general consensus from experts regarding a “healthy” credit report is as follows: 2 installment loans – home mortgage and …

How to Review a Title Commitment… by Title Co. of the Rockies

Kate Marrone First Time Homebuyer Info, Info on Real Estate Transactions Leave a Comment

The link below will direct you to a great page by page guide to Title Commitment provided by Title Company of the Rockies.  Title Commitment is one of the first documents you will receive, as a buyer or a seller, after going Under Contract.  This primer breaks down each section of the document to help you understand what it all …

Mortgages & Pre-Approval… by Land Title

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Lending is an important part of the overall home buying process.  The attached article by our friends at Land Title Guarantee Company covers the following: 1. What items make up my monthly mortgage payment?  The answer: “PITI” + “HOA” + “MIP”      P – Principle I – Interest T – Taxes I – Insurance HOA – Homeowner’s Association Dues …

Starting the Process: The Pros of Pre-Qualifying

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Mortgages are needed by many buyers at the time they choose to purchase a property.  However, starting the mortgage process before you even find the home you want to buy can be very beneficial. Here are just a few of the reasons why pre-qualifying early can make a big difference. First and foremost, talking to a couple lenders and going …

Buyer’s Market or Seller’s Market?

Kate Marrone Info for Home Buyers, Info for Home Sellers

Buyer’s Market or Seller’s Market? It’s All About Supply & Demand Below are some basics to help you determine… Buyer’s Market or Seller’s Market?  Where is your market now?  Where is it headed?  What if you’re in between? A Buyer’s Market Indicators of a Buyer’s Market include: Demand is Lower Inventory is Higher Longer List Time/High Number of Days on …