Buyer/Seller Tips

Questions & Answers

Real Estate can be a confusing world. Let me answer any and all of your questions!

Let’s Go Shopping

Wether you are buying or selling, let me help you get top dollar and top value for your home!

Closing The Deal

After we find your dream home, I will help you lock down all the paperwork and get you settled in!

Buying A Home

Whether purchasing your first home or your 10th home the necessary steps to insure you are making the best decision don’t vary much.

  • Select A Realtor And Establish A Relationship

    There are agents out there that ‘kind of work part-time on the side’. Really, would you go to a doctor that kind of works part-time and may or may-not be up on the latest medical news? Probably not, I want to work with professionals that devote themselves full-time to their profession.

  • Get Your Finances In Order

    Unless you are paying cash you need to establish a relationship with a lender. If you do not have a relationship with a lender your agent should have a core group of lenders they trust to get you the best rate and a loan closed on time.  You wouldn’t go shopping without knowing how much you can spend, why would you shop for a home without knowing how much house you could comfortably afford.

  • The ‘Must Haves’ And The ‘Like To Haves’

    It is best to start shopping with a clear idea of what you want and what you could do without. In a competitive market you may need to be prepared to compromise. In a competitive market you need to be prepared to be decisive and move quickly.

  • Write Your Offer

    Rely on me, your real estate professional, to know the local market and draft the best possible offer. I will advise you in protective contingencies, customary practices and local regulations. At the time an offer is written I will need to collect your earnest money, which will be placed in escrow upon acceptance by the seller.

  • Present Your Offer

    As your representative I will present your offer to the seller’s agent. The seller will have three options, they may accept you offer as written, reject your offer or counter your offer. I will review the sellers response with you. My negotiating skills and knowledge will benefit you in reaching a final agreement.

  • Open Escrow

    Once there is a meeting of the minds and all parties have signed the offer and counteroffer or addendums your earnest money will be deposited and the contract will be sent to the title company.

  • Time Is Of The Essence

    Your purchase agreement will outline time frames for which contingencies must be met. These may include proof of financing, home inspection. Once the home inspection is completed and all parties have agreed on repairs needed the appraisal is ordered. Your lender will need your homeowners’ insurance information at this time.

  • Close Of Escrow

    When all the conditions of the Purchase and Sale agreement have been met the lender will send final documentation to the title company who will put together the closing papers you will need to sign. Prior to your signing both your lender and myself will review the final closing statement and let you know the exact amount you will need to bring to closing in the form of a cashiers check (or you may have the funds wired directly). You will also need to bring your drivers license for the notary. When all good funds have reached the title company and have been properly disbursed the Deed will be recorded at the county recorders office and you officially take ownership. Typically this is also the point in which you may take possession of your home (this will depend on terms outlined in your contract).

Who Pays For What

Closing costs are various charges made by the lender, the title company, real estate agents, and other service providers necessary to complete a transaction. Although the responsibilities are negotiable between the buyer and seller, the following are customary in SE Idaho. Everything will be pro-rated as of closing.

The Buyers Pays

  • Title insurance premium – lenders policy and any endorsements
  • Half escrow fee
  • Home Inspections (paid at time of inspection)
  • Flood certification and tax service fees
  • All new loan charges (points, document processing fees, etc.)
  • Home warranty (if specified in contract)
  • Homeowner’s insurance for 1st year
  • Home Owners Association set-up/transfer fees
  • Private mortgage insurance (if required by lender)
  • Re-key fee for REO property
  • Utility set up fees
  • Wire fees and recording fees

The Seller Pays

  • Real estate commission
  • Half escrow fee
  • Appraisal
  • Payoff all loans against the property
  • Interest accrued on loans being paid off
  • Home warranty (if specified in contract)
  • Title insurance premium – owner’s policy
  • Property tax proration
  • Unpaid homeowner’s dues
  • Re-conveyance fees
  • Most sellers will receive a check several weeks after closing for any overages left in their escrow account. Proceeds from the sale of the home will be available once the sale closes and the new deed is recorded with the county.

The Finish Line

It is my responsibility to review the closing statement issued by the title company prior to signing. I will gladly estimate the fees based on your purchase or sale at the time we write or receive and offer.

Still Have A Question?

Let’s get it figured out! Send me a message with your real estate questions and I will get back to you with some answers.

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