Kristin's Blog: December 2010

Should I get the home i'm buying inspected?

Should I get the home i'm buying inspected?

I get this question all the time...the short answer is YES!  Who pay's for it?  You will.

The home inspection is a VERY important part of the home buying process.  You won't be able to close on the home without hearing about the need for a home inspection multiple times.  Real Estate agents encourage home buyer's to get the home inspected and you will have to sign documents that state your desire to do so or not.  The small amount of money you pay for that inspection can save you thousand's of dollars in the long run.

So, what's the big deal?  What does the inspector look for?   

Inspector's are trained to look at a home with very different eyes than you and me.  They are very thorough & will go through a laundry list of items they will make sure are working.  Working or not, you will hear about it.  Some of the items inspected are:

  • Plumbing
  • Electrical
  • Structure
  • Appliances
  • Garage 
  • Roof
  • Windows
  • Fire place/chimney
  • A/C units
  • Water heaters
  • etc.

What do I do once the home inspector tells me what's wrong with the house?

Once you receive the report back, chat with your agent about what's important to you to have the seller repair.  It might be wise to get your own estimates so you know the amount of money it will take to get the job done. 

Some of the items on the list might be a deal breaker for you, some won't but keep in mind no home will be without some flaws, even new homes.  The inspector's report can be daunting at first as well but think what he would come up with if he went into your existing home, review it with your agent & decide your next steps. 

 

Kristin Moran

Specializing in San Antonio & surrounding cities
-------------------------------
RE/MAX Access - Realtor®/Owner

KristinMoran@Remax.net 210.313.7397 www.SistersThatSell.com

Buy a home from me, use the truck to move for free!

                

10 comments • Kristin Moran, San Antonio,TX~Real Estate 210-313-7397 • December 28 2010 04:28PM

What closing costs does a seller pay in San Antonio, Texas?

What closing costs does a seller pay in San Antonio, Texas?

Just as a buyer has fees when buying a home, a seller has various fees as well, some negotiable, some not.  As a refresher to anyone looking to sell their home, here are some of the fees involved. 

I'm using the sales price of $200,000 with a 6% Broker commission for example purposes:

seller's closing costs ~ San Antonio, Texas

Other miscellaneous fees would be repairs the buyer would ask for as well as any of their closing costs.  This would be presented to you with their offer. 

If you have an escrow account you will get more monies.  When the transaction closes, the title company will take your portion of the taxes (January 1st of the current year up until day of close) and give to the buyer since taxes are paid in arrears.  When your loan is paid you would get the balance of what is currently in your escrow account for taxes back from your lender (approximately 2-4 weeks after closing). 

When you sit down with your Realtor & agree on a sales price they will be able to provide a net sheet so you know your bottom dollar.  You can use this figure & what your balance on the home is to gauge what you will walk away with.   

Kristin Moran

Specializing in San Antonio & surrounding cities
-------------------------------
RE/MAX Access - Realtor®/Owner

KristinMoran@Remax.net 210.313.7397 www.SistersThatSell.com

Buy a home from me, use the truck to move for free!

                

0 comments • Kristin Moran, San Antonio,TX~Real Estate 210-313-7397 • December 27 2010 03:23PM

Getting a home loan in 2010 ~ Can I get a beat?

We bought a second home a few weeks ago, having lived through this frustrating experience recently I know  what buyer's go through & thought i'd laugh about it, only so I don't cry........

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If you want a home with a yard, step back & recognize that getting a loan is going to be HARD.  You must have a J-O-B & you better put down those credit cards, you better be debt free!  Cuz' twenty-ten is the year of the perpetual loan, sit back & get comfy if you want a new home. 

There's paperwork galore, all of which you will abhore, if you get frustrated easily you might want to try and ignore....but get ready, The lender will ask you for all sort's of things, from bank statements to check stubs to letter's explaining your rings.  But the lender isn't the one that you should hate, there's a certain someone else very evil, hidden behind the gate, he's called an underwriter and by the end of your transaction he will turn you into a fighter. 

Rest assured he's after blood, he's got multiple eyes on him so he keeps himself out of the mud.   He's got a job to do and he takes it to heart, nothings getting by him so don't even start! 

These days are different, you will find out, there's verifications & re-verifications & paperwork that will make you scream and SHOUT! 

"Enough already! I give up! I don't want the home anymore, let's stay here!?" 

"But no, we're almost there, one step closer to our dream of living in Bel-Air!"

"So GO!  FIGHT!  WIN!  We'll give them what they want and we will do it with some smiles, even if it is just to have a new home within a couple of miles............

Kristin Moran

Specializing in San Antonio & surrounding cities
-------------------------------
RE/MAX Access - Realtor®/Owner

KristinMoran@Remax.net 210.313.7397 www.SistersThatSell.com

Buy a home from me, use the truck to move for free!

                

10 comments • Kristin Moran, San Antonio,TX~Real Estate 210-313-7397 • December 14 2010 08:39PM