THE SELLER PAYS US !
WE CAN SHOW YOU ANY HOME, REGARDLESS WHO HAS IT LISTED!
YOU SHOULD BE REPRESENTED BY YOUR OWN AGENT !
Home Inspections
When we represent buyers, we recommend having the home inspected by a licensed real estate inspector. The only exception is if it is a new construction home covered by the builder’s home warranty. This inspection is very through and will itemize items in need of repair or that do not meet current building codes. During the option period, the buyer may negotiate with the seller to repair or make an allowance on the purchase price to cover items in need of repair.
What is an “Option Period, and why do I need one?”
An option period is part of the contract in which the optionor (generally the owner) gives an optionee (the prospective buyer) the right to purchase the owners property at a fixed price within a stated period of time. The buyer must pay the seller for this option right. The buyer has no other obligation until he or she decides to either exercise the option right or allow the option right to expire.We recommend an “option period” to be part of your purchase contract. The option period typically is for 7-10 days, the average fee for the option period is generally $50 - $100. The option fee is non-refundable, but will be applied to the purchase price at closing. The option period gives the buyer time to research and have the property inspected by a licensed real estate inspector. After the buyer receives the inspection report, any defects in need of repair, may be negotiated with the seller during the option period.
An optional one year Home Warranty may be purchased by the buyer or offered by the seller. Typically the seller will agree to pay for the Home Warranty. Whether you are buying or selling, we recommend the purchase of a Home Warranty. As a buyer, the home warranty gives you peace of mind that most major home repairs will be covered.As a seller, you will know that in the event of a major repair, the buyer will not be looking to you for compensation.
What is the purpose of the appraisal?
Estimating the market value of a property is the goal of an appraisal. There are numerous technical definitions of the term market value but in layman’s terms, Market Value is usually defined as the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale. It is assumed that the buyer and seller are typically motivated, well informed or well advised and each acting in their own best interest.
Title Companies and Closing
The title company you select will play a very important role in the purchase of your new property. The title company will coordinate the preperation of all documents necessary to close, order the title policy (title insurance), act as escrow agents ,conduct the closing and finally fund the transaction. Be sure to bring a photo I.D. (preferably your drivers license) to the closing. If the property is to be titled in more than one persons name, all parties must have photo ID. Possession of your new property typically takes place as of closing and funding.
Title Policy ( Title Insurance )
The title insurance policy gurantees the purchaser that the property being purchased will have a clear title. Prior to a title policy being issued, a search of all prior grantor-grantees will be preformed to establish a complete line of title owners from the beginning of time to present. Secondly, a search will be preformed to confirm that there are no outstanding leans or judgements against the property.
A title policy will be issued insuring a good and indefeasable title. A good and indefeasable title can not be defeated by a superior claim, and if there is a claim, the claim can be defeated.
| Benefits of Owning Your Own Home |
|
|
| Important Things To Avoid Before Buying a Home |
|
|
| Don't Buy a Car - or Did You Already Buy One? |
|
|
| The Business Cycle and Buying a Home |
|
|
| Comparable Sales and Your Offer Price |
|
|
| Major Factors Influencing your Offer Price |
|
|
| Offering to Purchase Real Estate- the Basics |
|
|
| Writing an Offer - Safeguards Regarding the Property |
|
|
| How Financing Details Affect Your Offer |
|
|
| How FHA and VA Financing Affects Your Offer |
|
|
| Selecting Service Providers |
|
|
Get online real state property information and MLS lists at Canyon Lake, Texas. As a trusted realtor in Canyon Lake Texas, we provide online information for buyers and sellers regarding real estate services in Texas Canyon Lake.