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

 

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

 

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!

 

What Do I Get At Closing?

 

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.

What Can I Expect To Happen On Closing Day?

 

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

 

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.

 

Title Insurance Explained Visually

 

What is title insurance, and why should homebuyers purchase it when buying a home?

After all, doesn’t the attorney or title company handling the closing conduct a full title search and take steps to ensure you have a clear title? Isn’t this just another way to siphon a few coins off a real estate transaction?

Absolutely not!

Title insurance protects one of your largest investments you’ll ever make, and prevents a property owner from suffering financial loss which could be potentially catastrophic.

In our FAQ section we list over 70 ways someone can lose their property, even after a competent title search has been completed. Among these, are prior conveyances involving forgery or fraud, or unknown heirs who may step forward with a claim after an invalid property devise under a prior will, or even a conveyance involving a deed executed under an invalid power of attorney.

If you have purchased title insurance, at any time during your ownership of the property, if someone should claim to have a superior title interest, you will be covered for any potential loss, including the costs of defending your title in court.

Just how devastating would it be if you eventually discovered that someone else owned what you’d always thought was your home?

Do yourself a favor. When you buy a home, buy title insurance.  It’s a one time purchase which will protect you while you own your home, and even after you’ve sold your home should you be named in a lawsuit challenging the chain of title. Title insurance is affordable, and the rates are regulated by the State and cannot vary from company to company. Please watch this video to understand the essentials.

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

What Are VA Home Loans?

 

What Are VA Loans?

As the video says, the name is misleading – they’re not loans FROM the VA.

The VA – short for “US Department of Veterans Affairs” – is the Federal military veteran benefit system.

The VA administers benefits and services for Servicemembers, Veterans their dependents and survivors.

Programs related to home loans are one of their key services.

The VA is not a bank; they do not provide home loans themselves.

But they do guarantee a portion of home loans provided to veterans and other eligible people by banks and mortgage companies.

These guarantees enable lenders to provide more favorable terms.

They are are commonly called “VA Loans”.

They cover buying, building, repairing, retaining and adapting homes for personal occupancy by eligible Veterans and survivors.