The Secrets of Closing for Buyers and Sellers

housing-marketOwning a home is a major landmark in any person’s life, but it’s easy to become overwhelmed by the seemingly infinite number of tasks required to make that ownership a reality. Even after you sign a contract, get approved for a mortgage, and hire your movers, there’s still closing day to contend with. Though closing day might seem like a formality to exchange keys and sign on the dotted line, it can actually turn into a disaster without the right preparation. As a buyer or a seller, use these tips to ensure your closing goes smoothly. Read more

What You Need to Know about Title Insurance

house2You know you need car insurance, health insurance, and even life insurance, but have you ever considered title insurance? Until you buy your home, title insurance may not even enter your mind, but as you approach the landmark of homeownership, title insurance definitely needs to become a priority.

What is Title Insurance?

First of all, a title to a home is the evidence that the owner lawfully possesses that property and can sell it off. Title insurance is essentially an insurance policy that protects you against any property loss or damage you could potentially experience on your home due to liens, encumbrances, or defects in the title. While standard insurances like car, life, and health insurance protect against future events and is paid monthly or annually, title insurance protects against events that occurred in the past that you may not know about. It’s paid in a one-time premium at the close of your home’s escrow. Read more

4 Tips for Efficiently Marketing Your Home

Just as in business, the way that you market your home can make or break your sale. The more exposure the better, but only if your home is in the type of condition you want hundreds of prospective buyers to see. These following tips will help you plan to successfully market your home for a quick and easy sale.

Write Your Listing Ad Strategically

As you write the description of your home that will accompany its pictures, remember that you’re not writing an essay. You must be short and precise while still being thorough. This means you need to stick to the facts, such as the number of bedrooms, bathrooms, and any key features that will appeal to prospective buyers. Read more

Refinancing an FHA mortgage

Do you know the difference in how interest is collected on a conventional mortgage loan vs an FHA mortgage loan?

  • On a conventional loan, interest accrues daily. So every day that loan is outstanding, you owe one more days interest to the lender.
  • On an FHA loan, interest accrues monthly. So once the calendar turn to a new month, you are charged interest for the entire month.
  • When you are refinancing your FHA mortgage, time the closing to take place at the end of the month. Allow time for the 3 day rescission period to run out and have the loan “disburse” on the last business day or second to last business day of the month. There’s no need to double pay a month

    How to save money when refinancing your Florida mortgage

    If you are like most people, you are refinancing your home in Florida to lower your monthly payment, not spend a ton of money on closing costs if you don’t have to. Here are a few tips to help you keep more cash in your pocket when it’s time to refinance!

    • Ask your title insurance agent if you qualify for a “Reissue Credit Discount.” You will need a copy of your “Owner’s Policy of Title Insurance” that was most likely issued issued when you bought your home.
    • You may be able to avoid the cost of a new survey if you have one that is still accurate. A survey can cost from $275 – $500 or more, depending on the size of your property.
    • Shop around. Although Florida has a promulgated rate for title insurance and you won’t see much difference from one company to the next, you are likely to find a difference in charges for the Closing Services Fee, Title Search, Deilvery Fee, Wire Fee, etc. It pays to shop around and ask questions.

    Feel free to call our office if you have more questions about the closing costs involved in refinancing your home in Florida. We’ve helped Florida homeowners in most every county refinance their mortgages and we can help you too! Give us a call at 800-237-9190 today!