Before choosing your escrow officer you need to understand what an escrow officer really does. Nicole Phillips, Escrow Officer with Advantage Tile in Westlake Village, CA says “Escrow is the neutral third party between the buyer and seller in a real estate transaction. We hold the funds to pay the bills at the close and affiliate the loan document signing.” They perform a multitude of tasks from ordering payoff demands on existing liens, to preparing preliminary/final closing statements (HUD-1 forms), and getting the transfer recorded on title.
Having a contractor on your team will prove to be an incredible investment for many reasons. A general contractor can help you perform basic home upgrades like installing lighting fixtures all the way up to complex construction like building an addition or converting a half bath into a full. It’s important to have a relationship built with a contractor prior to needing one to do the work.
The reasons you should work with a real estate broker are endless. Buying a home without representation is not in your best interest. When making such a sizable investment, you MUST work with a professional who is accountable for acting within your best interest. A real estate broker lives and breathes real estate every day and will provide the expertise you need.
Each avenue of real estate requires certain expertise. It’s important to build your team prior to buying a home because you can benefit greatly from your team’s support. Each avenue of real estate requires certain expertise. You’ve heard the expression “Jack of all trades, master of none.” This is especially true in real estate due to how quickly things change with laws, financing programs, building codes, and individual markets.
What is escrow? Our interview with Nicole Phillips, an Escrow Officer in Westlake Village, CA.
Setting your investment criteria is one of the most important things you will do when preparing to purchase a home. However, it’s vital that you understand that your criteria is only good if you stick to it. You must throw emotion out the door if you are going pay significantly less than your neighbors.
Fannie Mae (FNMA) and Freddie Mac (FHLMC) are on board to play a role in the California Housing Finance Agency’s “Keep Your Home California” program. The whole goal of the program is to reduce the principal balance for homeowners who are underwater on their mortgages.
Due to how close a role your loan officer will play in your real estate transaction, it’s important to build rapport and a good working relationship with the lender you choose. You should ask friends and coworkers for referrals and interview several loan officers before making a decision on who to work with. Another good place to start is your bank and your employer’s bank since a relationship is already established. You can also search Google for “loan officers” in your area because a credible loan officer will have a visible online presence in today’s day and age.
Like most buyers, you will probably be paying for your home using financing of some sort. Before determining your price range and searching for homes, you need to know if you will be able to get the loan you desire for the amount you require.
If you are buying a home using financing, the first thing you should do is get Pre-Qualified or Pre-Approved.
Introducing our new e-book Southern California Real Estate: How To Pay Significantly Less Than Your Neighbors & Avoid Costly Mistakes.
Our goal with this e-book is to maximize the value of your real estate experience. This is something we do every day for our clients as California real estate brokers. An e-book will allow us to share our experience and educational resources with buyers throughout Southern California.
|
|
Click here to search all available homes for sale with our Advanced Search