Tag: #Realtor

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

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

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

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

Down payment assistance program for home buyers

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You have been working hard on getting your credit score up, you have been saving for the down payment and you are almost ready to be pre-qualified for a mortgage to buy a house and you vaguely remember that somewhere you heard about some Government help for first time home buyers.

You start your research and it gets complicated quick, so you are tempted to drop the ball and move on, however you found ME and this very informative blog to get you a bit more digested info about the down payment assistance program.

  • Programs vary by State and County
  • Your lender needs to be part of the authorized DPA lenders
  • Income limits apply and this changes by County as well
  • FHA and Conventional loans can benefit from the DPA
  • Your credit score needs to be +640 to qualify
  • You can use the funds for the down payment and closing costs
  • The property itself needs to meet a minimum criteria
  • You will have to take a course about how the DPA works

If you are looking for a Mortgage Loan Officer who can assist you with a mortgage and the down payment assistance program, give me a call, I will be happy to recommend you a true professional.

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

Debt to Income Ratio

The DTI is the Debt To Income ratio, is used by lenders to establish your ability to repay the loan. Remember, your credit worthiness is based on your credit score and both go hand to hand when you are trying to qualify for a mortgage.

Your income is confirmed with your paystubs and tax return, while your debt is confirmed through your credit report. The ideal DTI to qualify for a mortgage is 50% or less (there are exceptions but let’s keep it safe).

Examples of 2 loan applicants, they both make the same amount per month, but they handle their finances different. The first one possibly won’t qualify for a $1,200 mortgage while the second one will do for $1,500 easily (House priced at $250,000 – $280,000).

www.ClarisaMoodyRealtor.com

Make sure you have your debt under control and make your house buying goal a priority. Remember, sometimes –“ We buy things we don’t need with money we don’t have to impress people we don’t like” Dave Ramsey

Are you ready to buy your dream home? Give me a call, I will be happy to guide you.

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

Relación deuda – ingresos (DTI)

El ratio de deuda vs ingreso (DTI), es utilizado por el banco o la compañía de hipoteca (mortgage) para establecer su habilidad de repago. Recuerde, su solvencia crediticia es establecida por su puntaje de credito, y va de la mano con el DTI al momento de establecer si calificaría para una hipoteca.

Sus ingresos son confirmados con sus boletas o nóminas de pago (paystubs), mientas que su deuda es confirmada a través de su reporte de credito.  El DTI ideal para calificar a una hipoteca es de 50% o menos (Pueden haber excepciones, pero mantengámoslo en un porcentaje seguro).

Ejemplo de 2 aplicantes / compradores; ambos tienen un ingreso mensual de $4,000 pero manejan sus finanzas de manera diferente. El primero posiblemente no califique a una hipoteca de $1,200 mientras que el segundo podría calificar a una hipoteca de $1,500 o quizás un poco más (Casa con un valor de $250,000 a $280,000).

www.ClarisaMoodyRealtor.com

Asegúrese de mantener sus deudas bajo control y hacer su meta de comprar una casa su prioridad y recuerde que a veces “Compramos cosas que no necesitamos con dinero que no tenemos para impresionar a gente que no nos cae bien” – Dave Ramsey

 Esta listo para comprar su casa? Llámeme, con gusto le ayudare.

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

How to choose a Realtor?

It is very important to select the right Realtor or Real Estate agent when you are looking to sell your house, buy your first home or investment property. The “29 days sold guarantee” is only a commercial gimmick; there are more important things than the budget of your realtor to get publicity on TV or a fancy magazine.

Here are 5 things you need to pay attention to when you choose a Realtor:

  1. Communications skills.- Not only picking up the phone, but also to dedicate you the necessary time to explain you and guide you in the process
  2. Experience.- Having sales under the belt gives your Realtor the knowledge to act fast in different situations and be more helpful if the transaction is complicated
  3. Market knowledge.- Preferably choose someone who lives or serve the specific area you live or want to live
  4. Personal rapport.-  Call the Realtors you would like to work with and make questions, this is a great way to know if the person on the other side of the line will be helpful or not
  5. Make your research.-  Check if your Realtor is licensed, we hold a license to protect the consumers and be accountable for our actions. You can check a Realtor license in the following link:  https://www.myfloridalicense.com/wl11.asp?mode=0&SID=

Looking for a knowledgeable and trusted licensed Realtor? Give me a call, 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

¿Cómo elegir un Realtor?

Es muy importante seleccionar al Realtor o Agente Inmobiliario correcto si está pensando en vender su casa, comprar su casa nueva o una propiedad de inversión. El comercial de “Vendido en 29 días garantizado” es solo eso, un comercial; hay cosas más importantes que el presupuesto de un Realtor para comerciales de TV y publicidad en revistas bonitas.

Revise las 5 cosas más importantes que tiene que considerar al escoger a su Realtor:

  1. Habilidad para la comunicación.- No solo contestar el teléfono, sino también dedicarle el tiempo necesario para explicarle y guiarlo en el proceso. Si usted habla solo español, es vital que su Realtor sea bilingüe
  2. Experiencia.- Tener ventas comprobadas le brindara a su Realtor el conocimiento necesario para actual rápido y será mucho más útil si la transacción es complicada
  3. Conocimiento del mercado.- De preferencia elija a un Realtor que este familiarizado con el área en la que usted busca casa o en la que su casa se encuentra
  4. Relación personal.-  Lláme a los Realtors o Agentes con los que le gustaría trabajar y haga preguntas, así se asegurará de que está hablando con alguien que le ayudara o no. La disposición es muy importante.
  5. Investigue.- Chequee si el Realtor tiene licencia, estamos licenciados porque es nuestro deber de proteger al consumidor y somos responsables de nuestras acciones. Si desea verificar la licencia de un Realtor, lo puede hacer en el siguiente link:  https://www.myfloridalicense.com/wl11.asp?mode=0&SID=

Está buscando a un Realtor licenciado confiable y con conocimiento? Llámeme al 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