How Do I Choose The Right Lender For Me?

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There are some great tips in this video. Choose your lender carefully. Look for financial stability and a reputation for customer satisfaction.

Be sure to choose a company that gives helpful advice and that makes you feel comfortable.

A lender that has the authority to approve and process your loan locally is preferable since it will be easier for you to monitor the status of your application and ask questions. Plus, it’s beneficial when the lender knows home values and conditions in the local area.

Do your research, and ask family and friends.

We work with a number of great lenders at Seaview Title and would be happy to make several recommendations.

How Can I Determine My Housing Needs Before I Begin The Search?

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Your home should fit the way you live, with spaces and features that appeal to the whole family.

Before you begin looking at homes make a list of your priorities – things like location and size.

  • Should the house be close to certain schools? your job? to public transportation?
  • How large should the house be?
  • What type of lot do you prefer?
  • What kinds of amenities are you looking for?

Establish a set of minimum requirements and a ‘wish list.” Minimum requirements are things that a house must have for you to consider it while a “wish list” covers things that you’d like to have but that aren’t essential.

At Seaview Title, we can’t wait to help you make your dreams come true!

Closings Made Easy!

What Does A Home Inspector Do, And How Does An Inspection Figure In The Purchase Of A Home?

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As we show you in this video, an inspector checks the safety and condition of the home you’re planning to buy.

Home Inspectors focus especially on the structure, construction, and mechanical systems of the house and will make you aware of repairs that are needed.

The Inspector does not evaluate whether or not you’re getting good value for your money. (This is not an appraisal of value.)

Generally, an inspector checks (and may give estimates for repairs on):

  • the electrical system
  • plumbing and waste disposal
  • the water heater
  • insulation and ventilation
  • the heating and AC system
  • water source and quality
  • the potential presence of pests
  • the foundation, doors, windows, ceilings, walls, floors, and roof.

Be sure to hire a home inspector that is qualified and experienced.

It’s a good idea to have an inspection completed during the inspection contingency period, ou sign a written offer since once the deal is closed you’ve bought the house as-is.

Seaview Title … Small-Town Friendly … World-Class-Service … Closings Made Easy!

6 Selling Mistakes

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At Seaview Title, we are partners in the success of our Realtors and clients.

This short video includes great information about how to get your house ready for sale.

Do’s and Don’ts When Selling Your Home

1. Don’t Sell Before The House Is Ready.

If it doesn’t present well, it won’t sell well.

2. Don’t Over-Improve

People buy houses in neighborhoods.

If yours is so “improved” that it sticks out you’re hurting your chances at selling.

3. Hire Wrong

Make your agent choice for business reasons.

Personal relationships matter, but experience and expertise will determine financial success in your sale.

4. Don’t Hide Anything

Covering up or ‘failing to mention’ real problems doesn’t work.

State disclosure laws are strict and you can be sued after the sale for anything that should have been made clear.

5. Don’t Rush

You should know about your mortgage, including pre-payment penalties your market conditions and trends and your options for your next home before jumping on the market.

6. Don’t Get Too Emotional

Your attachment to your house and your own financial needs don’t really matter in the transaction.

If you can’t set them aside the sale won’t go as you’d like it to.

Remember – it was your home but to the buyer it’s as a house.

Seaview Title … Small-Town Friendly … World-Class Service … Closings Made Easy!

 

Why Use A REALTOR®

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If you’re just starting to look for a new home, or have found a property, but you’re not sure what steps to take to make an offer, we highly recommend that you contact a real estate agent in your area who is familiar with the neighborhood.

At Seaview Title, we work with hundreds of top agents and would be happy to assist you by making a recommendation.

Having a real estate agent work for you will cost you nothing as a homebuyer — but the cost of not having a licensed and experienced agent cannot be overstated.  There’s simply nothing better than knowing that the price you are willing to pay, and the home you wish to purchase are very sound decisions— and your agent will help you with this, and so much more.

A state license is required to sell real estate. But roughly half of those licensed take the additional step of becoming a REALTOR®.

As we show you in this video, only members of the National Association of Realtors – NAR – are entitled to use that registered trademark and call themselves a REALTOR®.

As members, they adhere to a strict Code of Ethics and have access to classes, seminars and certification. Their aim is to be experts in their community aware of real estate trends and local and neighborhood issues. They apply that expertise to help buyers and sellers succeed.

You can find a certified REALTOR® by looking in local sources asking around or searching here.

Once you’ve found the right agent to work with, we hope you will write our names into your contract to act as your Closing Agent.

As Seaview Title, we pride ourselves on “Closings Made Easy!”

What Kinds Of Loans Do TRID Disclosures Cover?

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Seaview Title wants you to know that the mortgage world changed in late 2015!

There are many new rules now designed to protect the consumer.

These rules have been adopted by the Consumer Financial Protection Bureau (CFPB), and are popularly known as TRID rules. (TRID stands for the Truth in Lending Act-Residential Procedures Act Integrated Disclosure).

Basically, the old HUD-1 settlement statement and the old 1003 Loan application have been merged into a five page disclosure document which provides details about your mortgage and closing costs.

TRID applies to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans, and loans secured by vacant land or by 25 or more acres.

The rule does NOT apply to Home Equity Line of Credit transactions, reverse mortgages, mortgages secured by a mobile home or other dwelling that is not attached to real property.

Also, TRID rules do NOT apply to loans made by a person or business that makes 5 or fewer mortgages in a calendar year.

What Do I Get At Closing?

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Your friends at Seaview Title are here to help you understand what you can expect at closing.

For most real estate loans, you will receive a Closing Disclosure 3 business days before loan consummation.

At closing, you will receive copies of all your closing documents after signing. These will include the deed, promissory note, mortgage, affidavits, loan documents, and other papers you sign.

We can provide hard copies, or digital copies via a secure online portal, or both.

Our Digital Closing Package is a unique value-added offering for closing with us, as it give you 24/7 access to all your closing documents.

Sometimes, the seller will provide to us, or to your Realtor, other items, such as home and appliance warranties, extra sets of house keys, garage door openers, gate passes, and other items pertaining to the home.

If you’re a seller, your proceeds will be provided either at the closing in the form of a check, if all conditions for funding have been met, or you will receive a wire or check at some point after closing, whenever funding authorization has been given.

Can My Settlement Charges Change?

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Seaview Title wants you to know that your settlement charges may change, if circumstances change, such as:

  • a natural disaster damages the property or affects closing costs
  • the title insurer providing the estimate goes out of business during underwriting
  • new information on you or the transaction affecting settlement is discovered.

If any of these events change 3rd-party charges beyond the 10% tolerance limit creditors may issue a revised Loan Estimate.

If a creditor issues a Loan Estimate they are presumed to have collected all 6 pieces of required information. They may not claim a change in circumstances by receiving one of these pieces of information AFTER issuing a Loan Estimate.

Keep in mind, that other special circumstances may arise in which you are required to hire legal counsel to address some legal issue pertaining to your credit, or for other reasons which may hold up your closing. These services are outside original estimates, and can increase closing-related charges, as well.

What Can I Expect To Happen On Closing Day?

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Seaview Title wants to make your closing as smooth as possible.

This video explains what you may expect at closing, and what you should bring to your closing appointment.

In Florida, it is common for the buyer and seller to sign their documents separately and at different times.

Of course, you should plan to arrive a few minutes early, and be sure to bring one photo ID (driver’s license) and a 2nd form of ID issued by the government (passport, voter registration card, etc.)

Also, you should bring your paid homeowner’s insurance policy or a binder and receipt showing that the premium has been paid.

At closing, your escrow officer and/or attorney will review the settlement statement (known as the closing disclosure or HUD-1, depending on the type of transaction). This will reflect all the debits and credits (monies to be collected, charged, paid, or owed) for the purchase or sale.

The settlement statement will include information about the Realtor commissions, buyer’s down payment, pro-rations for prepaid taxes and homeowner’s or condominium association fees, as well as credits from the lender, and any which have been agreed between the parties.

The seller will provide proof of work completed, inspection reports, home warranties, and other information about the property, along with keys, access codes, garage door openers, and the like. Once you’re sure you understand all the documentation you will sign all the documents, including the deed, mortgage, promissory note, and other important documents and affidavits pertaining to the property.

The deed and mortgage will be recorded at the County Clerk of Court, and forwarded to the buyer with the final title policy within 30 days of closing.

Closing Costs Explained Visually

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As an attorney-owned title & escrow company, Seaview Title is dedicated to accuracy and full-disclosure, and that’s why we work so hard to make sure you understand your closing costs. We believe purchasing a home is an exciting moment in the lives of our clients, and we wish to be sure you are at ease regarding the expected costs for closing.

Our fees are very reasonable, and always disclosed up front, and the good news too is that most of the lender costs are disclosed well in advance, and the costs to record your documents, including County recording fees and taxes, are state-regulated, as are the title insurance premiums you will pay for your title insurance policy.

This video will explain the fundamentals, and we will work with you and your Realtor to provide a closing statement to you as early as possible so you can review the expected costs and take steps to prepare for transferring funds to us before closing.