Annemarie Torcivia - RE/MAX  Trinity



Posted by Annemarie Torcivia on 1/15/2018

When you think of buying or selling a house, the first thing that comes to mind may not be the legal aspects associated with the process. You may want to reconsider this rather boring part of the process as an important one. Hiring a lawyer can help both buyers and sellers to get through many hurdles that buying a home can present. 


The Contracts


There will be many negotiations and a lot of back and forth throughout the process of buying a home. Everything thatís involved with buying a home needs a contract for it to be legally binding. A real estate attorney will negotiate on your behalf and be sure that the contracts adhere to all state and local laws. The lawyer will also help you to address issues that may affect the future of the property such as botched inspections, liens against the home, and other items that could affect you as the home buyer. 


Title Search


Real estate attorneys will perform what is called a title search. This allows them to see if there are any outstanding liens or judgements against the house. This title search will also make sure that the seller has the right to actually sell the property thatís being sold. An attorney can do all of this much quicker than the average person since they have working relationships with title companies.


Transfer Of Property


If a property is being transferred through a corporation, trust, or partnership, things can get complicated. Itís good to have an attorney who is used to working with these complex situations and understands the legal boundaries within the state or municipality   that the property is in.


If You Choose Not To Have A Real Estate Attorney


Many times, a real estate attorney isnít required to buy a property. It is advisable to have one, however. Without an attorney you increase your chances of problems arising in the future. You run the risk of:


  • Being sued for failure to disclose information
  • An improper property transaction takes place
  • You could miss relevant facts about the property
  • Failing to file the correct documents at both the state an local levels
  • Deeds are not transferred
  • Building permits werenít correctly filed


The Takeaway


Having a real estate lawyer on your side is important due to the complex nature of property transactions. While some states require that an attorney be present throughout your property transaction, many states do not have this stipulation. You are smart to hire a competent real estate attorney to protect your own interests as either a buyer or a seller.





Posted by Annemarie Torcivia on 10/23/2017

As you prepare to embark on the homebuying process, you may encounter a variety of homebuying myths. And if you believe these myths, the risk increases that you may be forced to deal with many problems along the homebuying journey.

Now, let's take a look at three common homebuying myths, along with the problems associated with these myths.

1. Buying a house is a quick, stress-free process.

The homebuying process may prove to be long and arduous, particularly for a first-time homebuyer. Fortunately, real estate agents are available to help you simplify the process of acquiring a top-notch residence at a budget-friendly price.

A real estate agent understands the challenges associated with buying a house. As such, he or she can help you identify and address these problems before they escalate.

Typically, a real estate agent will learn about what you want to find in your dream house and help you plan accordingly. With this approach, a real estate agent will ensure that you can enjoy a fast, worry-free homebuying experience.

2. Getting a mortgage won't take long at all.

There are many factors that will dictate your ability to acquire a mortgage that matches or exceeds your expectations. For instance, your credit score, income and outstanding debt will impact a lender's decision to provide you with a mortgage. And if you have experienced financial problems in the past, they may impact your ability to acquire a mortgage today.

It generally helps to get pre-approved for a mortgage before you enter the housing market. Because if you have a mortgage in hand, you can narrow your house search.

Also, it may be beneficial to shop around for a mortgage from several banks and credit unions. If you explore all of the mortgage options at your disposal, you can select a mortgage that suits your finances perfectly.

3. The first home that you see in-person likely will be the house that you'll end up purchasing.

The homebuying process offers no guarantees. And if you expect to buy the first home that you view in-person, you ultimately may be disappointed with the final results of your home search.

Oftentimes, it is a great idea to check out a wide range of houses. By conducting an in-depth home search, you can select a house that fulfills all of your homebuying demands.

As you search for a home, you may want to work with a real estate agent too. This housing market professional can set up home showings and keep you up to date about open house events.

Furthermore, a real estate agent is happy to provide homebuying recommendations and suggestions. He or she will do whatever it takes to help you find a terrific residence, as well as negotiate with a seller's agent on your behalf to ensure you won't have to pay too much to acquire your ideal house.

The aforementioned myths can be harmful to any homebuyer, at any time. If you hire a real estate agent, however, you can learn the ins and outs of the housing market and avoid potential hurdles throughout the homebuying journey.




Categories: Uncategorized  


Posted by Annemarie Torcivia on 10/9/2017

When you drive through a new housing development does it seem like all of the homes are enormous compared to when you were growing up? You're not alone. In fact, over the last 40 years, average home sizes have increased by over 1,000 square feet. In other words, you could fit an entire small house inside of the amount homes have†grown in size.

Why do Americans love huge houses?

It's counter-intuitive that home sizes should keep growing larger. Bigger houses mean higher prices, more maintenance, and more expensive utilities. To understand why, we need look no further than the automobile industry. In spite of the fact that larger vehicles cost more to buy, use more gas, and do more harm to the environment, people still buy bigger and bigger trucks and SUVs. There are a few reasons why. One is that they can afford to (or they can at least afford the payments).†Another reason is cultural. For the most part, bigger meant better in American culture--until recently. Recently, many Americans have begun saying they would prefer smaller sized houses. That desire hasn't entirely caught up to the people building the homes, however. And even as simple living trends and the "tiny house" phenomenon gain traction, building contractors still stand the most to gain from large houses and the people with the money to build houses continue to build big to stay aligned with the other homes in their neighborhood. There are other obstacles in place for people who want a smaller house. Some counties around the U.S. now enforce minimum square footage requirements to uphold the building standards of the area. So, people hoping to move to a particular suburban area but don't want a huge house might be out of luck.

How big of a home do I need?

There are a lot of things to consider if you're buying a home. Size and cost often go hand-in-hand, but even if you can afford a larger home, do you really need the space?†Here are some questions to ask yourself to determine how large of a house you really need:
  • Do I or will I have a family? Kids need space. They need bedrooms and places to play. The size of your family is going to be a huge†factor in choosing the size of your home.
  • Do I need all this stuff? Many people use their homes like storage containers. Think about the last time you moved and what you brought with you. Now determine how often you used the things you brought. Odds are you have a lot of items just sitting around taking up space that you don't really need.
  • Do I†have hobbies that take up a lot of space? Woodworking, working on cars, playing drums... these are all examples of hobbies that call for some leg room.
  • Am I a dog person? Just like kids, pets tend to take up some room. Larger dogs and energetic dogs require more†room, both outside and inside the house.
  • Do I have time to keep up with the maintenance? Bigger houses means more windows to clean, more toilets to scrub, more grass to mow... you get the idea. You might find that you'd rather have a beautiful and well-kept small home than a hard-to-maintain†huge one.





Posted by Annemarie Torcivia on 7/24/2017

Purchasing a home in a buyer's market may seem like a fast, simple process. However, it is important to realize that homebuyers constantly compete for the best residences in cities and towns nationwide. And if you're not careful, you risk missing out on an opportunity to acquire your dream house.

What does it take to secure a home in a buyer's market? Here are three tips to ensure that you can do just that.

1. Study the Housing Market Closely

A buyer's market features a large assortment of top-notch residences and a shortage of property buyers. As such, this market heavily favors homebuyers, and property buyers who examine the real estate market closely may be able to boost their chances of purchasing a terrific house at a budget-friendly price.

For homebuyers, it is essential to establish criteria for your dream residence. With homebuying criteria at your disposal, you can narrow your search for the ideal residence and accelerate the homebuying process.

Don't forget to check out homes in-person, either. If you set up a home showing or attend an open house, you'll be able to envision what it's like to own a home and determine whether a residence is right for you.

2. Get Pre-Approved for a Mortgage

What good is shopping for a house if you cannot afford to pay for it? Fortunately, you can get pre-approved for a mortgage to understand exactly how much you can spend on a new house.

To get pre-approved for a mortgage, you'll want to meet with several banks and credit unions. These lenders will be able to offer insights into a variety of mortgage options, respond to your mortgage concerns and questions and help you select a mortgage that suits you perfectly.

Pre-approval for a mortgage is vital for homebuyers, particularly in a buyer's market. If you have a mortgage in hand when you explore available homes, you may even be able to avoid the temptation to overspend on a residence.

3. Collaborate with a Real Estate Agent

When it comes to navigating a buyer's market, a real estate agent can deliver outstanding support.

A real estate agent can teach you about the intricacies of buying a home and help you streamline the homebuying process. He or she also will be available to respond to your homebuying questions, ensuring you can make informed decisions as the homebuying journey moves forward.

Perhaps best of all, a real estate agent can help you alleviate stress as you search for your dream home. This housing market professional will keep you up to date about new properties as they become available, set up home showings and negotiate with home sellers on your behalf. By doing so, a real estate agent enables you to focus on what's important Ė purchasing a first-rate house at a price that matches your budget.

Buying a home can be challenging, even in a buyer's market. But with the aforementioned tips, you can simplify the homebuying process and move closer to securing a house that meets or exceeds your expectations.




Categories: Uncategorized  


Posted by Annemarie Torcivia on 6/19/2017

Once you have gone through the pre-approval process and have narrowed down your home search, thereís a good chance youíll soon find a place that you want to make an offer on. This can seem like a huge step for any first time homebuyer. Even seasoned home buyers feel butterflies when the time comes to make an offer on a home they love. Before you even start your home search, you should become educated on how to make a good offer in order to land the property that you really want. Thereís so many factors that effect your offer including the surrounding properties and the current state of the market. Here are a few very important pieces of advice that you should heed in order to have a successful time securing a home and closing the deal. 

Craft A Persuasive Offer

In many areas thereís a low inventory of homes and a high number of those seeking to buy. This means that youíre not guaranteed to get a property that you have made an offer on. Lowball offers might not be at all competitive and even insulting to sellers in certain markets. Often, you may need to make an offer of more than the asking price if youíre in love with a home. By working with your real estate agent and doing the right research, you can craft an offer on a home that will be compelling for sellers.    

Decide On Your Contingencies 

Once an offer has been accepted, itís time to get to work on those contingencies. Be especially mindful of financing contingencies. If something falls through in the process, youíll want to be sure you can get the deposit you made back. Also keep in mind that sellers love reliable buyers who have already been preapproved.  

Home inspection contingencies are another area of importance. After you sign the purchase agreement and the inspection is complete, youíre allowed to ask the seller to make repairs or provide you with a counter offer. While this can be one of the more nerve-wracking aspects of home buying, it has many positives. Home inspections protect buyers from purchasing a home that they canít live with in cases of extreme mold, termites and other environmental and structural issues. 

The appraisal contingency is also important. In order for you to qualify for a loan, the property must be appraised. The property must be valued at or above the purchase price. A loan will only be approved by a lender up to the appraised value. If your home loan is $400,000 but your home of choice is appraised at $390,000, youíll have a problem.       

Your Finances Matter Until You Get To The Closing Table

Donít go crazy with all kinds of purchases before you reach the closing table. Opening a new credit account at your favorite furniture store, for example, could lead to a disastrous surprise on closing day. Hold off on big purchases until after you secure your home. Also avoid making large transfers or deposits from your bank account. donít do anything to negatively affect your credit score

  

Know What To Bring To The Closing

Donít show up to the closing for your home purchase unprepared. Youíll need to have the following items: 


  • Photo ID
  • Checkbook
  • Cosigners 



Think Ahead


Be sure that you think of the future when youíre purchasing your home. Youíll need to have enough cash flow to pay for things like property taxes, home insurance, utility bills and even new furniture for your home. Plan your future mortgage payments accordingly. Some companies have payments that are monthly or bimonthly. 


While buying a home is a huge undertaking, with the right plans in place, the process will be as seamless as possible. With the right plans, the moving truck will be pulling into the driveway before you know it.      




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