Contemplating buying or selling a house and have no idea where to begin?
Here’s a list of some of the questions you might have about the real estate process. If you have any additional questions, please get in touch.
FAQ
IS RIGHT NOW THE BEST TIME TO BUY OR SELL?
Historically speaking, we may no longer be in peak market conditions for selling. The good news is that we are definitely far from the worst time! When the market changes or returns to normal, more homes become available for buyers. This creates opportunity on both sides of the market. More inventory invites buyers to make the leap from renting and participate in the equity that sellers have been enjoying, while sellers are having to compete and be more realistic with their expectations. The market is very important but many things should be factored into your decision to buy or sell. The first thing I will do as your agent is understand your needs and goals to help you determine the best way to get where you need to be
WHAT WILL I DO FOR MY CLIENTS?
As a TN REALTOR® and a fiduciary, I am a member of the National Association of REALTORS®. I am very familiar with
the local housing market, including pricing and knowledgeable on local and state real estate practices.​
Throughout the buying and selling process, I will walk my client through any necessary paperwork, communicate with
my client and other parties and vendors involved, provide information on the appraisal, home inspection process, and continue to support my client through the closing process
WHAT ARE THE MAIN FACTORS INFLUENCING THE SALE OF MY HOME?
Many things can influence the sale of a home; such as local market conditions, the economy, financial market, location, and competition. Let's also consider your prices & terms, timelines, motivations, property condition, and availability.
Finally, the listing agent's marketing, advertising, network, and full understanding of the real estate negotiating process
REAL ESTATE: GLOSSARY
APPRAISAL
An estimate of real estate value, usually issued to standards of FHA, VA and FHMA. Recent comparable sales in the neighborhood is the most important factor in determining value
ESCROW PAYMENT
That portion of a mortgagor's monthly payment held in trust by the lender to pay for taxes, hazard insurance and other items as they become due
ORIGINATION FEE
A fee paid to a lender for services provided when granting a loan, usually a percentage of the face amount of the loan
BINDING AGREEMENT DATE (BAD)
The date when both parties, seller and buyer, have agreed to and completed signing and/or initialing the contract
BILL OF SALE
Document used to transfer title (ownership) of PERSONAL property
THE CLOSING TABLE
A "closing" “closing” is where you and I meet with a representative from the lending institution and a representative from the title company, in order to transfer the property title. Most often in Tennessee this will not include the Seller as we close at separate locations, often on the same day.
THE CONTRACT
The purchase agreement or contract you signed describes the property, states the purchase price and terms, sets forth the method of payment, and sets the date when the “closing” or actual transfer of the property title and keys will occur.
THE CLOSING COSTS
At closing, you will be required to pay all fees and closing costs in the form of “guaranteed funds” such as a Cashier’s Check or wire transfer. Your lender or escrow office will notify you of the exact amount.
THE FINANCING
If financing the property, your lender will require you to sign a promissory note as evidence that you are personally responsible for repaying the loan. You will also sign a mortgage or deed of trust on the property as security to the lender for the loan. The mortgage or deed of trust gives the lender the right to sell the property if you fail to make the payments.
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TITLE INSURANCE
Before you exchange these papers, the property may be surveyed, appraised, or inspected, and the ownership of title will be checked in county and court records. Title Insurance, insurance against loss due to an unknown defect in a title or interest in real estate, is typically paid by the seller.