Patrick McCarran

Buyer Tips

“Buyer Tips & Information”

BHHS-Timeline - BHG

Before you sign anything…

Whether you’re buying your first home, or you’re an experienced buyer, my goal is to make the process as simple and effective for you as possible.

There is a process… My process is client friendly, and my goal is to give you’re the information and let you make all the decisions.

Yes, purchasing a home is a big undertaking, but it doesn’t have to be a hassle.

If you’re serious about finding your home, I can help you navigate and save you a lot of aggravation. Let’s find a time when we can sit down together, openly discuss your options and set up an action plan for either now or in the future.

 

CALL CAROLE: 925-584-1755

 

THE 10 LOAN COMMANDMENTS

WHEN IN THE PROCESS OF APPLYING FOR A REAL ESTATE LOAN  

AND UNTIL IT IS CLOSED AND YOU HAVE THE KEYS.

 

1.  Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be live in it!)

3. Thou shalt not open new accounts, use credit cards excessively or let you accounts fall behind.

4.  Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from you loan application.

6.  Thou shalt not buy furniture.

7. thou shalt not originate any inquiries into your credit.

8.  Thou shalt not make large deposits without first checking with you loan officer.

9.  Thou shalt not change bank accounts.

10.  Thou shalt not co-sign a loan for anyone.

                                                                                                                                                          approved stamp

 

 

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THE 9 STEP HOME FINDING PROCESS

 

1. Consulting with a real estate agent

2.  Getting pre-approved

3.  Finding the home

4.  Making an offer

5. Negotiation the offer

6.  Processing the loan

7.  Funding & Closing

8. Get the Keys

9. Moving In

 

 

 

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WHO PAYS FOR WHAT?

THE SELLER CAN GENERALLY BE EXPECTED TO PAY FOR:

  • Real estate commission
  • Document preparation fee for deed
  • Documentary transfer tax ($1.10 per $1,000.00 of sales price)
  • Any city transfer/conveyance tax (according to contract)
  • Payoff of all loans
  • Interest accrued to lender being paid off, statement fees, reconveyance fees and any prepayment penalties
  • Natural Hazard Report
  • Termite inspections (negotiable)
  • Termite work (negotiable)
  • Home warranty
  • Any judgments, tax liens, etc. against the seller
  • Recording charges to clear all documents of record against the seller
  • Tax pro-ration
  • Any unpaid homeowner’s dues
  • Any and all unpaid taxes
  • Notary charges
  • HOA Transfer fees

 

THE BUYER CAN GENERALLY BE EXPECTED TO PAY FOR:

  • Title insurance premiums
  • Escrow fee
  • Document preparation (if applicable)
  • Recording charges for all documents in buyer’s name.
  • Termite inspection (negotiable)
  • Tax pro-ration (from date of acquisition)
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Assumption/change of records fees for takeover of existing loan
  • Beneficiary statement fee for assumption of existing loan
  • Inspection fees (of Buyer’s choice i.e. general home, roofing, plumbing, etc.)
  • Home warranty (according to contract)
  • City transfer/conveyance tax (according to contract)