Buying

Found 64 blog entries about Buying.

What's Important to You?

Whenever I meet a new client, I like to take some time and get to know them so that as we push forward to find the "right" house for them we are able to check the boxes off of what's important to them.   I always ask them to tell me first their {WANTS} and then their {NEEDS}....  so let's talk about how deciphering between the two can keep your eyes open to the big picture and not miss out on what might be the perfect gem.  So let's get to it!

{WANTS} Obviously, it is just that..... what do you WANT in your new home.  Here are some prime examples:

  • 3-Car Garage
  • 4 Bedrooms
  • Fully-Fenced Yard for your four legged babies
  • Big Kitchen with Stainless Steel Appliances
  • 2.5 Bathrooms

{NEEDS} Now let's dig a

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Below are some frequently asked questions regarding a property's title.  The answers below are short and sweet, but if you'd like more details or have other questions, please don't hesitate to contact us and we can place you in touch with a title officer.    

Why do some title reports call for an inspection?

When a title company performs an inspection, which is about 15-25% of all transactions, they look for the following:  
  • Evidence of recent improvements (thus, potential mechanic’s lien rights)
  • Evidence of encroachments
  • Evidence of parties in possession
  • Evidence of unrecorded easements
  • Evidence of anything else that might impair our coverage
The inspection can be “triggered” if:  
  • Tax values jump
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Here are a few that can delay and / or kill a real estate transaction:

 

  • Don’t deposit cash into your bank accounts.  Lenders need to source your money and cash is not really traceable. Small, explainable deposits are fine, but getting $10,000 from your parents as a gift in cash is not. Discuss the proper way to track your assets with your loan officer.
  • Don’t make any large purchases like a new car, appliances or a bunch of new furniture.  New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher ratios…higher ratios make for riskier loans…and sometimes qualified borrowers are no longer qualifying.
  • Don’t co-sign other loans for anyone. When you co-sign, you
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Fires Related to Aluminum Wiring

Due to implications in numerous house fires, the once common practice of using aluminum wiring during the 1970's is no longer permitted in new installations in most jurisdictions. If your house has aluminum wiring you do not necessarily need to panic. Aluminum wiring can be just as safe as copper wire as long as it has been installed correctly. The concern with aluminum wiring is that it is very unforgiving if it has been installed incorrectly.

 

How Aluminum Wiring Reacts

Aluminum wiring expands when it warms up, and contracts then it cools down. Aluminum reacts differently than copper wire after several warm/cooling cycles. After each cycle aluminum tends to lose more of its tightness. This process is often…
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Real Estate Scams You Need to Know About

  • How scammers are stealing down payments
  • First-time Phoenix homebuyer duped out of $73K in real-estate scam

Real Estate News

  • Latest news from the Northwest MLS
  • Seattle’s affordability crisis is costing renters $6K per year

Mortgage & Finance

  • 5 ways to reduce credit card interest
  • 5 great money habits that will set your kids up for financial success [VIDEO]
  • 3 steps to tame your debt in an hour or less

Home Trends

  • 6 kitchen mistakes you’ve been making all your life
  • Holiday hosting tips to be safe, insurance if you’re sorry
  • The best home trends of 2017

Local News

  • Beer and meat temple headed to North Seattle
  • The Greenest Built homes I’ve ever
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Form 17 NOT Part of Purchase and Sale Agreement

In this video Northwest Attorney, Annie Fitzsimmons, who specializes in Washington State Real Estate Law, explains why the Form 17 - Seller Disclosure Statement although a required addendum within a real estate transaction is not part of the Purchase & Sale Agreement.

 

 

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How Does a Lease Option Work?

The lease option strategy is a great way to leverage your real estate investments because it provides a great alternative for someone who wants to buy within the next 2 years, but whose current situation would not allow them to buy.  Here are some examples:  
  • Your out-of-state home has not yet sold but your job has moved you to a new city and you need the proceeds from your out-of-state home BEFORE you can buy.
  • You have credit challenges but are working diligently to improve your credit enough that you can qualify to buy a home
  • You will be receiving a significant bonus, settlement or inheritance tat will provide you with the funds necessary to buy
The lease option is more of a financing alternative…
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trade_up_400More first-time home shoppers say they want a house they can “grow into” not a home they can quickly grow out of. 

With big housing bargains and low mortgage rates, some first-time buyers have decided to go big with their home purchase and sidestep the traditional smaller “starter house.” 

A growing number of real estate professionals are reporting that childless, twentysomethings who have strong incomes are taking advantage of housing deals and looking for their dream house now, rather than wait until later. 

A Minneapolis couple purchased a 3,000-square-foot-home as their first home. "The more starter homes we saw, the less impressed we became. ... Since we knew we could easily afford to

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As you near the end of your transaction, and when Escrow has received and prepared the required documents, you will be contacted to set an appointment for you to review, approve and sign your documents. This portion of your transaction is referred to as “the signing” and will usually occur a few days prior to your actual close date.

This Instructional Video will prepare you for what to bring and what you can expect at your signing.

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