Why should I use a REALTOR?
REALTOR'S subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. A REALTOR acts on your behalf as your agent, providing you with advice and guidance for buying and/or selling a home. A REALTOR will do their due diligence during the evaluation of the property and assist you in finding qualified, responsible professionals to conduct property investigations and make sure you are provided written reports, before you remove contingencies. You will also want to see a preliminary title report for the property, which your REALTOR will also order and supply you. The title could show some limitations such as easements (access rights) for utilities. Your REALTOR, Title Company, and/or attorney can help you resolve issues that might cause problems at a later date.

How much does a REALTOR cost?
As a buyer, your REALTOR'S services are free. Why? The person selling the home pays for their agent (the listing agent) and the your agents (selling agent) commission.

How do I start the process?
Upon receiving your call, we can choose a time to get together and carefully plan the purchase of your new home.

What is an earnest money deposit?
Earnest money is money that the buyer will put towards the transaction in good faith, so you (the sellers) know they are serious about purchasing your home. If the buyer removes all of their contingencies (usually on day 17), and later decides to pull out of the contract unjustly, you may be entitled to keep the earnest money. Usually, earnest money is 1-3% of the cost of the home, but it is always negotiable.

What is escrow? How long is it?
Escrow is a neutral 3rd party that holds all of the money during the transaction, and disperses the money at the end of the transaction. Escrow cannot do anything without the consent of both parties (the buyers & sellers). Escrow is normally 30-60 days (shorter for cash deals). The buyer and the seller share the cost of escrow, and it is considered part of your "closing costs."

How long is escrow involved?
The escrow period is a negotiable time period. The beginning of escrow starts when you accept the buyers offer. The end of escrow (most common escrow period is 30 days) is when the buyer's loan funds and the money is dispersed appropriately to all parties involved. Your name is also taken off title and the buyer(s) name is recorded with the county as the new owner of the property.

What is title insurance?
Title to the property is similar to the pink slip on the car. Whoever has the pink slip on the car is the owner. Title is the same; whoever is on title is the owner of the property. Title insurance insures you against anybody who used to be on title. For instance, let's say you bought your home from John Doe. He sold the property to you as a single man, and title is now in your name. However, Jane Doe comes around a while later as John's sister/wife/ex-wife. She says that she was on title, and she never signed the contract selling the home, therefore, she claims she is still on title. This is called clouding title. Title insurance protects you from this happening…it insures you from the point you purchase the policy BACKWARDS. There are different types of Title insurance (CLTA & ALTA). Be sure you know which kind you are purchasing. This is almost always a requirement of a lending institution loaning you the money for the home. You (the buyer) pay for this in your loan; it is part of your "closing costs."

What is a contingency period?
A contingency period is an amount of time that you give the buyer to do their "due diligence." Because they are buying the property, they are given time to do some homework to see if the home meets their expectations. They can do any number of inspections, including a roof inspection, a pest inspection, a geological inspection, a mold inspection, or a general inspection. There are many more inspections they can choose to perform…and the buyer pays for them all. Contingency periods are usually 17 days, and the buyer should remove their contingencies after this time.

What is a home inspection?
This is generally the first inspection the buyer will do. A property inspector will come out and look at the home in great detail, and note all the things that should be fixed immediately or in the near future. He/she will also point out the things which appear to be fine. Based on this recommendation, the buyer may choose to get other inspections. For instance, if the inspector says the roof looks really old and sees signs of a leak, they will recommend getting a roof inspector to come out for a more detailed inspection. Once the inspector gives the buyer their recommendations, the buyer may ask you to make some repairs. You are under no obligation to fix anything except what is required by law. If you will not fix what the buyer wants, they can cancel the contract and exit the deal with their entire earnest money deposit. Or if they want the home, they will have to purchase the home "as is." We will help you negotiate this part of the deal. The cost of the inspection is covered by the buyer.

Can I bring a personal check to escrow for my funds to close?
No, you must bring a cashier's check or a certified check for closing. This is to insure that the funds are truly available…it's equivalent to cash. Ideally you would take this money to escrow about 4-5 business days before the close of escrow.