Nolo's Essential Guide to Buying Your First Home (84 page)

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

BOOK: Nolo's Essential Guide to Buying Your First Home
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recordkeeping
 
vs. tax credits
 
Taxes, capital gains
 
seller financing and
 
stepped-up basis
 
Taxpayer Relief Act
 
Taxes, estate, gifts to reduce
 
Taxes, flip
 
Taxes, gift
 
forgiven loans and
 
how to avoid
 
tax-free limit
 
Taxes, property
 
closing date and
 
defined
 
tax deductions for
 
tax sales
 
upgrades for not-yet-built houses and
 
Taxes, transfer
 
Tax liens, foreclosed properties and
 
Taxpayer Relief Act
 
Tax professionals
 
Tax records, recordkeeping
 
Tax sales
 
Teaser rates, for ARMs
 
Telephone service.
See
Utilities
 
Tenants by the entirety
 
Tenants in common
 
Termites
 
See also
Pest inspections/pest reports
 
Time is of the essence, purchase agreement clause
 
Title
 
clouds or defects
 
legal problems
 
ownership form
 
purchase agreement clause
 
Title agents.
See
Closing agents
 
Title insurance
 
closing agent role
 
cloud removal and
 
co-ops and
 
cost of
 
endorsements against unrecorded easements
 
exclusions
 
fees for
 
lender’s or mortgagee’s policies
 
for newly built houses
 
overview
 
owner’s policies
 
public sale or auction properties and
 
requirement for
 
who pays for
 
Title reports, preliminary
 
closing agent role
 
clouds or defects revealed by
 
to mortgage broker or lender
 
review contingencies
 
reviewing
 
Townhouses and duplexes
 
benefits and drawbacks
 
researching community
 
rights of use clauses
 
special contingency removal
 
See also
Covenants, Conditions, and Restrictions (CC&Rs)
 
Traffic
 
houses overlooked due to
 
not-yet-built houses and
 
researching neighborhood
 
Trampolines, homeowner’s insurance rates and
 
Transitional zoning
 
TransUnion
 
Trash collection.
See
Utilities
 
Tree Care Industry Association
 
Trees
 
hazard insurance coverage
 
planting
 
pruning
 
restrictions on removing
 
Trust accounts.
See
Escrow or trust accounts
 
Truth-in-Lending Disclosure Statement (Regulation Z form)
 
TV providers.
See
Utilities
 
Two-step loans
 
U
 
UCC-1 Financing Statement, for co-ops
 
Uniform Residential Loan Application (Form 1003)
 
appraisals
 
assembling documents
 
Good Faith Estimate
 
instructions for completing
 
monitoring approved loans
 
mortgage fraud
 
overview
 
Unmarried couples
 
civil unions
 
domestic partners
 
jointly owned property and
 
tenants in common
 
See also
Single persons
 
Up-front costs
 
closing costs
 
emergency fund
 
moving costs
 
overview
 
points
 
remodeling costs
 
service setup costs
 
U.S. government forms
 
using files to create documents
 
See also
IRS forms and publications
 
U.S. Treasury Bills, indexes from
 
Utilities
 
lack of electrical outlets
 
notifying providers of move
 
service setup costs
 
tracking utility expenses
 
V
 
Vacant houses, hazard insurance exclusions
 
Vacant lots, investigating plans for
 
Value of property
 
comparable sales
 
decreasing
 
equity and
 
increasing
 
as neighborhood choice priority
 
100% financing and
 
overcustomized houses
 
overimproved houses
 
overpriced houses
 
remodeled fixer-uppers
 
short sales
 
stigmatized properties
 
upgrades for not-yet-built houses
 
See also
Appraisals/appraisal reports; Market temperature; Resale value
 
Values (personal), as house priority
 
Vermin, hazard insurance exclusions
 
Veterans’ Administration (VA) loans
 
assumability
 
Certificate of Reasonable Value
 
list of lenders
 
loan limits
 
overview
 
Views, not-yet-built houses and
 
Virgin Money, person-to-person loans
 
Visitors&R rules
 
W
 
Walk-through, final
 
addressing problems revealed at
 
contingency clauses
 
developers present at
 
of existing houses
 
of new houses
 
real estate agent role
 
sellers present at
 
War, hazard insurance exclusions
 
Warranty deeds.
See
Deeds
 
Water heaters
 
documents related to
 
energy efficiency and
 
high-efficiency, tax credits for
 
home warranties for
 
inspecting
 
for newly built houses
 
recalled equipment
 
replacement costs
 
Water service.
See
Utilities
 
Water tower house
 
Water use, tips for reducing
 
Websites
 
accessibility and services
 
ARM payment calculators
 
budget worksheets
 
builder warranty information
 
comparable sales data
 
complaints against specific developers
 
contractors
 
credit reporting bureaus
 
crime statistics for specific cities
 
decorating tips
 
disclosure requirements
 
earthquake risk
 
equipment recalls
 
flood risk
 
foreclosure information
 
FSBO houses
 
government-assisted loans
 
homeowner’s insurance quotes
 
housing developments
 
interest rates, current
 
locally available houses
 
local schools
 
MLS consumer website
 
mortgage glossaries
 
mortgage-related
 
movers
 
moving announcements
 
moving information
 
neighborhoods, information on
 
online auctions
 
organizing resources
 
party supplies
 
pet liability coverage
 
pets, moving
 
points calculators
 
preforeclosure properties
 
remodeling tips
 
renting vs. buying, cost comparisons
 
researching
 
sex offender information
 
slideshows of new home, posting
 
state elections offices
 
Veterans’ Administration
 
Wills
 
drafted by attorneys
 
shared property and
 
Windows, replacing
 
Windows operating systems
 
installing CD-ROM forms
 
listening to audio files
 
Wraparounds, defined
 
Z
 
ZipRealty, MLS access

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