Read Nolo's Essential Guide to Buying Your First Home Online

Authors: Ilona Bray,Alayna Schroeder,Marcia Stewart

Tags: #Law, #Business & Economics, #House buying, #Property, #Real Estate

Nolo's Essential Guide to Buying Your First Home (76 page)

BOOK: Nolo's Essential Guide to Buying Your First Home
8.19Mb size Format: txt, pdf, ePub
ads
 
list of
 
B
 
Balloon loans/payments
 
for interest-only ARMS
 
overview
 
for seller-financed loans
 
two-step loans as
 
Bank-owned (real-estate owned) properties
 
Banks
 
for preapproval
 
researching interest rates
 
See also
Financing; Lenders; Mortgage entries
 
Base rate, interest
 
Benjamin Moore Aura paint
 
Better Business Bureau, information on developers
 
Bills of sale, reviewing and signing
 
Binders.
See
Deposits (earnest money)
 
Boats, zoning restrictions on parking
 
Boundary lines
 
Budgeting
 
spending habit revisions
 
websites
 
worksheets
 
Builder closeouts
 
Builder warranties, for newly built houses
 
Buyers
 
at closing
 
hot and cold markets
 
proof of identity
 
title insurance paid by
 
unable to attend closing
 
See also
Cobuying arrangements
 
Buyer’s agents
 
Buyer’s remorse, coping with
 
C
 
Cancellation of sale
 
buyer’s remorse and
 
earnest money deposits and
 
failure to disclose and
 
failure to remove contingencies and
 
preliminary title reports that lead to
 
refunds for upgrades for not-yet-built houses
 
seller unable/unwilling to transfer property
 
title insurance exclusions and
 
Cash, all-cash offers
 
Certificate of Reasonable Value (CRV), for VA loans
 
Certificates of Deposit (CDs), indexes from
 
Certificates of occupancy
 
Certified Mortgage Consultants (CMCs)
 
Certified Residential Mortgage Specialists (CRMSs)
 
Character
 
as neighborhood choice priority
 
of old houses
 
Children
 
bringing to house visits
 
childproofing new home
 
easing adjustment to new home
 
at inspections
 
preparing for move
 
schools
 
CIDs.
See
Common interest developments
 
Civil unions, tenants by the entirety
 
Closing, tasks to complete before
 
contingency removal
 
deed preparation
 
move preparation
 
overview
 
title insurance
 
Closing agents (escrow agents or officers, title agents)
 
attorneys for
 
earnest money deposits to
 
how they are paid
 
intrafamily loan document role
 
overview
 
responsibilities of
 
selecting
 
title insurance role
 
Closing costs
 
arranging for payment of
 
for condominium buyers
 
for co-op buyers
 
final review of
 
GFE protections
 
junk fees
 
locking in
 
for newly built houses
 
overview
 
paid by developers
 
purchase agreement clause
 
for short sales
 
for starter houses
 
tax deductions for
 
for VA loans
 
Closing date
 
asking for more time
 
delayed closings
 
first-time homebuyer tax credit and
 
in offers/purchase agreements
 
“reasonable time”
 
Closing documents
 
affidavits of title
 
ALTA statements
 
bills of sale
 
for co-op buyers
 
deed of trust or mortgage
 
deeds
 
mortgage broker role
 
mortgage loan
 
promissory notes
 
property transfer documents
 
recordkeeping
 
reviewing and raising issues
 
settlement statements
 
signing and notarizing
 
Truth-in-Lending Disclosure Statement
 
Closing (settlements)
 
attorney role
 
buyers attending
 
buyers unable to attend
 
celebratory tunes for
 
for co-ops
 
documents to bring to
 
overview
 
real estate agent role
 
sellers or seller’s agents attending
 
taking possession following
 
CMCs (Certified Mortgage Consultants)
 
Cobuyer Discussion Worksheet
 
Cobuying arrangements
 
attorneys to create documents
 
benefits of
 
cobuyers unable to attend closing
 
community property
 
community property with right of survivorship
 
factors to consider
 
joint tenants with right of survivorship
 
sole property ownership
 
tenants in common
 
COFI (11th Federal Home Loan Bank District Cost of Funds), indexes from
 
Collateral
 
for home equity loans
 
for mortgages
 
Commitment of title.
See
Title reports, preliminary
 
Commitment or approval letters, from lenders
 
Common interest developments (CIDs)
 
agreements
 
for factory made homes
 
master insurance policies
 
overview
 
PUDs
 
researching
 
restrictions on homeowners
 
rights of use clauses
 
special contingency removal
 
townhouses and duplexes
 
See also
Condominiums; Co-ops; Covenants, Conditions, and Restrictions (CC&Rs)
 
Community, sense of
 
condominiums and
 
as neighborhood choice priority
 
Community associations
 
benefits and drawbacks
 
CC&R review contingencies and
 
fees in debt-to-income ratio
 
master insurance policies
 
membership contingency
 
ownership of common areas
 
relevant document storage
 
researching
 
signs of money troubles
 
special assessments
 
state laws
 
Community Associations Institute (CAI)
 
Community property
 
Community property with right of survivorship
 
Comparable properties (comps)
 
offer amount and
 
real estate agent role
 
researching
 
Competitive market analysis (CMAs)
 
Condo/Co-Op Worksheet
 
Condominiums
 
access to elevators during move
 
benefits and drawbacks
 
closing costs
 
government-assisted loans for
 
master insurance policies
 
principal, interest, taxes, and insurance
 
researching
 
restrictions on homeowners
 
rights of use clauses
 
size of development
 
special contingency removal
 
trash collection
 
See also
Covenants, Conditions, and Restrictions (CC&Rs)
 
Consumer Product Safety Commission, recalled equipment
 
Container Store
 
Contingency clauses
 
appraisal
 
attorney review
 
CC&R review
 
for community interest developments
 
co-op board review
 
in developer’s standard contracts
 
failure to remove
 
final walk-through
 
financing
 
homeowner’s insurance
 
home warranty
 
inspection
 
limiting in hot markets
 
overview
 
preliminary title report review
 
removing
 
seller’s disclosure report review
 
waiving
 
Contractors
 
developer’s failure to pay
BOOK: Nolo's Essential Guide to Buying Your First Home
8.19Mb size Format: txt, pdf, ePub
ads

Other books

After The Storm by Claudy Conn
Trapped in Ice by Eric Walters
Breaking Away by Reasor, Teresa
Playboy Doctor by Kimberly Llewellyn
Obsessed by G. H. Ephron
Ultimate Issue by George Markstein
Biografi by Lloyd Jones