Dec 20, 2010 | MIAMI REAL ESTATE
The day has finally arrived…it’s CLOSING DAY! Closing is the legal transfer of ownership from seller to buyer. It’s a formal meeting that most of the parties involved in the deal with attend. Closings are usually held at the title company or...
Dec 15, 2010 | BUYER'S ADVICE
You have an executed contract on the home of your dreams. You’ve determined that there are no defects on title and you have done inspections amd resolved anything that came out of that process. Now it’s time to order an appraisal. The appraisal is an...
Dec 2, 2010 | BUYER'S ADVICE, MIAMI REAL ESTATE
Once you’re under contract and have applied for a loan, your lender will require that you get a property survey before they issue the mortgage so that they may get a clear lender’s title insurance policy. A surveyor will determine if the house is within...
Nov 29, 2010 | FORECLOSURES/SHORT SALES, MIAMI REAL ESTATE
What is Loan Modification? It’s an inexpensive way to stay away from foreclosure (no appraisal fees, surveys…). Loan modification differs from refinancing (which requires you to have equity). With loan modification you negotiate new terms for your...
Oct 4, 2010 | BUYER'S ADVICE
The biggest upfront cost in purchasing a home is the down payment. Traditional lenders typically expect borrowers to put at least 20% of a loans total amount down. If a borrower is unable to do that, they are required to purchase Private Mortgage Insurance (PMI),...
