Tag: #RealEstate

Real Estate dictionary

This is a list of some words used in Real Estate and its meaning that you should know before you engage in selling or buying a house or land:

AAgent.- Is a licensed professional who can assist you in the purchase, sale or rent of a property, vacant land or investment property. Realtors are agents, federally registered members of the National Association of Realtors and subscribes to its strict Code of Ethics. Appraisal.- A written opinion of a property’s market value done by a licensed appraiser
CClosing.- The process of executing legally binding documents, final signature of documents such as title, deed, mortgages, note or others associated with the property’s title transfer Closing costs.- Expenses for services for the sale or purchase of a property, such as sale commissions, loan fees, title fees, appraisal, survey, etc.
EEarnest Money Deposit (EMD).- Advance payment of part of the purchase price for a property Escrow.- When a third party (usually a title company or real estate attorney) handles legal documents and funds on behalf of a seller and buyer Estate.- A person’s possessions, the extent of a person’s interest in real property
HHomeowners insurance.- Insurance protecting real property or possessions in the home, also provides liability coverage against accidents in the home or on the property.
LLien.- A hold, claim or change allowed a creditor upon the land of a debtor, like a mortgage lien. Loan estimate.- A document of 3 pages sent by the lender with an estimate of the cost of the transaction.
MMortgage.- Instrument used to encumber land as security for a debt
NNote.- Instrument evidence of the debt, a note is usually secured by a security instrument, such as mortgage or deed of trust
PPoints.- A one-time special fee or extra charge paid to a lender in order to secure a loan or a better rate, it is expressed as a percentage of face amount of mortgage (Ex. 2 points = 2%) Prorate.- To allocate between seller and buyer their proportionate share of an obligation paid or due, such as property taxes
RReal property.- Land, together with fixtures, improvements and appurtenances (A mobile home on a rented lot is considered personal property, while a manufactured home anchored down and conveying on the sale with land can be considered real property)
TTitle.- Ownership of real property and stands against the right of anyone else to claim the property, evidence of ownership Title insurance.- Agreement to indemnify the insured against loss product of a covered defect in title of a particular parcel or property Title search.- Examination of public records, laws and court decisions regarding the ownership of the property. It can include  liens, judgments, open mortgages and other title issues
WWalk-through.- or pre-settlement inspection is usually scheduled before closing to make sure the property is in the agreed-upon condition.
ZZoning.- The right of a municipality to regulate and determine the compatible character and use of the property
Clarisa Moody – Realtor

If you would like to sell or buy a property in Florida, give me a call at 813 446 2003

Clarisa Moody

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

How to avoid fraud in real estate

Only in 2019, $221 million* were lost due to wire transfer fraud linked to real estate; this can be avoided with the following tips:

  • Work with a licensed Realtor; we have to pass a test, pass a background check and even leave our fingerprints so they can be checked by the FBI. We are licensed to protect consumer and we have to follow a strict code of ethics. If you have doubts regarding your Realtor license, check it in the following link
  • Work with a licensed Mortgage Loan Officer; the loan or mortgage needs to be handled also with discretion and professionalism by the MLO as they will have access to sensitive information. You can check your MLO license in the following link
  • Do the paperwork through a Title Company, they will get a title insurance for you once the paperwork is in order, the property needs to be free and clear so they can do the transfer of the title or deed
  • Never send money to the title company without confirming the wire transfer instructions in person or over the phone. If you want to know if the title you are working with is legit, check  this link

Looking to buy or sell your house, give me a call, will be happy to help you.

Clarisa Moody – Realtor 

813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

* https://www.alta.org/news/news.cfm?20200218-WTF-221M-Lost-to-Wire-Transfer-Fraud-in-2019

www.ClarisaMoodyRealtor.com

The importance of a home inspection

Without a doubt, purchasing a house is one of the most important investments we do in our lives, therefore we need to make our due diligence in order to know the condition of the house we are buying.

As a Realtor, my job is to protect my client’s interest and I strongly suggest a home inspection, even on cash deals, so the buyer can know exactly the condition of the house they are looking to buy. The inspection is performed by a licensed inspector; it can take 2 to 3 hours and have an average cost of $400. The inspector will check the main systems of the house, such as AC / Heater, plumbing, electricity, plus the roof and attic and crawl space (if there are available) and write a report on the condition of the house so the buyer and this document can be used to require any repairs to the seller, request for concessions toward repairs or simply for the peace of mind of the buyer that the house has no major problem.

Note: If the house will be financed, a wind mitigation report and 4 point inspection report are suggested as well, that will provide the lender more information about the condition of the house and can also provide you a discount on the home insurance. If the house was built before 1978, there is a lead based paint test that some home inspectors offer as well in the package

Are you looking to buy a house and need assistance? Give me a call, will be happy to guide you.

Clarisa Moody

813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

La importancia de una inspección

Sin ninguna duda, la compra de una casa es la inversión más importante de nuestras vidas, por lo tanto es necesario hacer las diligencias del caso para conocer la condición de la casa que se está comprando.

Como Realtor, siempre recomiendo a mis clientes realizar una inspección a la casa, incluso en transacciones cash, así el comprador podrá tener un mejor conocimiento de la condición de la casa. La inspección es realizada por un inspector con licencia, puede demorar de 2 a 3 horas y tiene un costo aproximado de $400. El inspector chequeara los principales sistema de la casa, como el aire acondicionado / calefacción, plomería, electricidad, además del techo, ático o espacio debajo de la casa (si los hay) y escribirá un reporte de la condición de la casa y este documento puede ser utilizado para solicitar reparaciones al vendedor, concesión para reparaciones o simplemente brindarle paz mental al comprador de que no hay problemas graves con la propiedad.

Nota: Si la casa es financiada, se sugiere solicitar también el reporte llamado Wind Mitigation y el reporte de 4 Point, a fin de que el banco o compañía de mortgage tenga más información de la casa y también pueden brindarle descuentos en el seguro de la propiedad. Si la casa fue construida antes de 1978, hay un test de pintura a base de plomo que algunos inspectores le pueden ofrecer en el paquete.

Está buscando comprar una casa y necesita asistencia? Llámeme, con gusto le ayudare.

Clarisa Moody

813 446 2003

Si le gustó  esta entrada del Blog, suscríbase al Newsletter para que reciba periódicamente información interesante de Bienes Raíces, finanzas y manejo del hogar

www.ClarisaMoodyRealtor.com

How much do I need to buy a house?

The usual expenses associated with the purchase of a house are down payment, closing costs and other expenses.

  • The down payment can be anywhere from 3% to 10% for a primary residence, it will depend on the type of loan you can qualify for, fully documented loans, such as a conventional loan and a FHA loan (Government backed loan) have a down payment of 3% and 3.5% respectively, of the purchase price.

Example: If the house price is $200,000 and you got approved for a conventional loan, the down payment would be $6,000. If you have a FHA loan approved for the same $200,000 house, the down payment would be $7,000

  • Closing costs can be between 2% and 5% of the home value, it will include the title company fees, transfer taxes, doc stamps and prorated property taxes.  It is possible to get some concessions from the seller towards your closing costs, this is something your Realtor will advise, handle and negotiate on your behalf.
  • Other expenses associated with the purchase of a house are the home inspection ($300 – $400), well and septic inspection if needed ($200 to $400), Engineer structural inspection ($250 – $300), survey (depending on the size of the lot, starts at $300), appraisal ($450 to $650, the lender requests it)

As you can add up, it is necessary to have a good chunk of money to buy a house; however there are programs available to help you with the down payment and closing costs for first time home buyers as well as loans with 0% down payment as the USDA or VA. It is important for you to work with a Realtor who can provide you clear advice and resources so you can accomplish your dream of home ownership. Give me a call, I will be happy to help you.

Clarisa Moody

813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Real Estate investing in Central Florida

Did you know that you can buy a property in the United States without being a citizen or permanent resident? You just need a valid passport and a Visa. Did you also know that you can actually get a loan from an American mortgage company to buy real estate in the US?

Investing in real estate in Central Florida is highly profitable as regular rent prices are going up and short term rentals are very popular in the area (such as Airbnb and Vrbo).

Take advantage of this amazing opportunity and buy an investment property that will be completely yours (no timeshare), so you can enjoy of the theme parks, the world ranked beaches, natural preserves, springs and parks, as well as a very dynamic night life. I will assist you with the purchase, I can recommend you a licensed Mortgage Loan Officer to assist you with the loan (if needed) and also put you in contact with a company that will take care of the reservations for you in order to maximize your return on your investment.

Give me a call, will be happy to assist you, 813 446 2003

Clarisa Moody

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Inversión inmobiliaria en Florida Central

Sabía usted que puede comprar una propiedad en Estados Unidos sin necesidad de ser ciudadano o residente permanente en el país? Solo necesita su pasaporte valido y visa. Sabia además que la compra la puede financiar una empresa de hipotecas acá en Estados Unidos?

Invertir en bienes raíces o el sector inmobiliario en Florida Central es altamente rentable ya que los precios de las rentas regulares están incrementándose y las rentas a corto plazo son muy populares (como Airbnb and Vrbo).

Aproveche esta excelente oportunidad y compre una propiedad de inversión en Florida Central que será solamente suya (no timeshare), así también podrá aprovechar en visitar los parques de diversiones, las playas más hermosas del mundo, reservas naturales y manantiales únicos así como una vida nocturna muy dinámica.  Yo asistiré con la compra y le puedo recomendar una persona que le ayude con el préstamo y otra que administre la propiedad por usted, asi maximiza los retornos de su inversión.

Llámeme, con gusto l@ asistiré, 813 446 2003

Clarisa Moody

Si le gustó  esta entrada del Blog, suscríbase al Newsletter para que reciba periódicamente información interesante de Bienes Raíces, finanzas y manejo del hogar

www.ClarisaMoodyRealtor.com

Rent with the option to buy

If you are working on your credit score, trying to clean your credit report or simply you are trying to save more money for the down payment, the program “Rent with the option to buy” can be what you were looking for. The requirements are as follow:

  • 500+ credit score
  • $4000+ household income
  • 12 months of rent on time
  • $5000+ on savings (or gift, or 401K)

And you can apply in the following link: https://www.dreamamerica.com/home/applyNow/Clarisa-Moody

Once you get the green light from Dream America, we are ready to go house hunting! You can pick the house you want within your budget and Dream America buys it for you and rent it back. The lease is for 12 months and you can buy it anytime you qualify for a mortgage (with no penalty) and 10% of your rent goes towards your down payment. It is a win – win.

Let me know if you have any questions about the program, will be happy to assist you.

Clarisa Moody – 813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Buy it, fix it and live in it

The market is HOT, it is a seller’s market, demand is higher than the offer, inventory is low, prices are rising, etc. These are some of the reasons why you, and many other home buyers, have difficulties finding the right house; basically your competition is huge but you can sweep your competition off with a renovation loan, buying a house regardless its condition.

  • GO FOR the ugly house in your desired neighbourhood,
  • GO FOR the house within your school zone that has that hideous Pepto-Bismol bathroom,
  • GO FOR that house with the pool but unfortunately has only 2 bedrooms,
  • GO FOR the house with the 1950s avocado appliances kitchen.

With the renovation loan, you can make that house your DREAM HOME; you just need to work with the right professionals.  The down payment is low, interest rates are low, renovations are included in your loan and a licensed bonded and insured General Contractor will do the renovation. It’s like buying a FLIP but instead of making the flipper gain all your equity, you are getting it back.

Ready to work with a team of highly prepared professionals to get your future dream home? Give me a call, I will be happy to guide you in the right direction.

Clarisa Moody 813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Compre, arregle y viva en su casa soñada

El Mercado está caliente, es un mercado de vendedores, la demanda es más alta que la oferta, el inventario es bajo, los precios suben, etc. Estas son algunas de las razones por las cuales usted y muchos otros compradores tienen problemas para encontrar la casa que están buscando; básicamente la competencia es grandísima pero usted puede barrer con todos los competidores con un préstamo renovación, comprando una casa sin importar su condición.

  • COMPRE la casa más fea en el vecindario que le encanta,
  • COMPRE la casa con los colegios que quiere a pesar de ese baño color pepto-bismol,
  • COMPRE la casa con piscina que tiene solo 2 habitaciones
  • COMPRE la casa con la cocina de los 50s y electrodomésticos verde aguacate

Con el préstamo renovación, usted puede hacer esa casa su CASA SOÑADA; solo tiene que trabajar con los profesionales correctos. La inicial es baja, los intereses son bajos, los gastos de renovación están incluidos en el préstamo y un Contratista General con licencia, bonded y con seguro se encargara de la renovación. Es como comprar un FLIP pero en vez de darle de ganar al flipper, usted mismo gana esa capitalización en su propia casa.

Listo para trabajar con un equipo altamente calificado de profesionales que le ayudaran a comprar su futura casa soñada? Llámeme, con gusto le guiare en el camino correcto.

Clarisa Moody 813 446 2003

Si le gustó  esta entrada del Blog, suscríbase al Newsletter para que reciba periódicamente información interesante de Bienes Raíces, finanzas y manejo del hogar

www.ClarisaMoodyRealtor.com