Podcasts about residential purchase agreement

A 15% tax on the purchase of your next home may be owed if the seller is not exempt from the Foreign Investment in Real Property Tax Act. And even if not subject to the tax, the new Wisconsin WB-11 Residential Purchase Agreement includes a provision to allow all buyers to withhold the tax or terminate the Offer if the non-foreign person certification is not received at least 15 days prior to closing. The new Offer has an optional use date of Nov. 1, 2019. Older versions of this form do not include the terminate provision. Listen in, and then check with your lawyer.

Buying a home can be nerve-wracking, especially if you’re a first-time home buyer. Not only is it probably the biggest purchase of your life, but the process is complicated and fraught with unfamiliar lingo and surprise expenses. What if you make a mistake? No need to worry...To make the first-time home buying journey a little less stressful, our good friend and real estate agent Eric Blanchard joins us on this Worth It episode to share five tips to help you navigate the home-buying process! Here’s What You’ll Learn [3:45] How Eric got started as a real estate agent [5:45] Tip #1- Before you start the search for the perfect house, sit down with a loan officer to figure out what you can afford [8:30] Sit down with your local home-grown bank, it may just work out in your favor [12:30] Tip #2- choose an agent [15:15] Sell by owner: What you should know [17:00] What to look for in a real estate agent [21:45] Before you hire an agent, create your wish list [23:15] Tip #3- Drive the area a few times during the week, at different times of the day [25:30] Tip #4Start the process [27:30] Don’t underestimate sweat equity [31:15] Tip #5- Make an offer [37:00] Rookie mistakes to avoid Research first, dream house second Tip #1: Before you start the search for the perfect house, sit down with a loan officer to figure out what you can afford Before you start looking for your dream home, you need to know what’s actually within your price range. When you’re taking out a mortgage loan, your credit will be one of the key factors in whether you’re approved, and it will help determine your interest rate and possibly the loan terms. Check your credit before you begin the home buying process. Dispute any errors that could be dragging down your credit score and look for opportunities to improve your credit, such as making a dent in any outstanding debts. If you’re applying for a mortgage soon, avoid opening new credit accounts to keep your score from dipping. In addition to saving for a down payment, you’ll need to budget for the money required to close your mortgage, which can be significant. Closing costs generally run between 2% and 5% of your loan amount. You can shop around and compare prices for certain closing expenses, such as homeowners insurance, home inspections, and title searches. You need somebody in your corner Tip #2: #2 - choose an agent Real estate agents are important partners when you’re buying or selling a home. Real estate agents can provide you with helpful information on homes and neighborhoods that isn’t easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. It is paramount that you find an agent you feel comfortable confiding in and trusting with the most expensive purchase of your life thus far. Ask for referrals and recommendations from close friends, then start meeting with agents. And best of all, it doesn’t cost you anything to use an agent – they’re compensated from the commission paid by the seller of the house. The Stakeout Tip #3: Drive the area a few times during the week, at different times of the day When deciding where you want to buy your first home, there are a wide variety of factors that will help you make a decision. Even if the price is right, you’ll want to consider other factors, like the neighborhood that house is in. What is the traffic level like in the areas you like best? Not just after work, but in the morning and on weekends. Consider access to shopping, restaurants, nightlife and grocery stores. Will it be expensive to enjoy life in your new neighborhood or affordable? Are there other people around you with similar goals, like raising children? All of these factors should be considered when planning to purchase a house. Great real estate agents should be able to provide some basic information about the neighborhood you are considering. Start the process Tip #4: Start the process Take as much time as you need to find the right home. Then work with your real estate agent to negotiate a fair offer based on the value of comparable homes in the same neighborhood. Once you and the seller have reached agreement on a price, the house will go into escrow, which is the period of time it takes to complete all of the remaining steps in the home buying process. Tip #5: Make an offer You’ve done your homework and know your local market. You have a list of sales comparable to the house you’re interested in, and you’re ready to make a smart offer. Your real estate agent can provide you with a Residential Purchase Agreement that complies with applicable state and local laws. In some states, it is common for a lawyer to be a part of the offer paperwork process. Resources & People Mentioned Eric Blanchard - Agent Profile www.theworthitpodcast.com/30 Connect With Danielle and Dustin Ask your questions! On Facebook On Twitter Connect with Dustin on Twitter: @DRGranger

Ron Siegel discusses local and national current events, politics, personal and business finance with a few mortgage tips along the way. A Southern California mortgage expert and bonafide political junkie, Ron Siegel delivers intelligent, entertaining radio that makes the hard news of the week easy to understand! Ron Siegel is joined by Lynda Eisenmann. Ron Siegel will discuss: Which Comes First… Marriage or Mortgage?; Preparing your home for Spring Selling; What to look for in a Residential Purchase Agreement from the Sellers Point of view; 15 Ways to Benefit from Rising Interest Rates; Real Time Real Estate; Your Credit Matters; Mortgage Minute; Word on Wealth; and so much more. Ron Siegel, consumer advocate and mortgage lender, discusses anything that affects the roof over your head, your bank account or other items that will benefit you / your family. Reach Ron Siegel at  800.306.1990 Ron@RonSiegelRadio.comwww.RonSiegelRadio.comwww.SiegelLendingTeam.com your Yorba Linda Mortgage LenderMortgage Calculator: www.MBELinks.com/RFToolKit  Your Yorba Linda Mortgage Lender offers: Conventional Loans, FHA Loans, USDA Loans, Refinancing, and Reverse Mortgages

Ron Siegel discusses local and national current events, politics, personal and business finance with a few mortgage tips along the way. A Southern California mortgage expert and bonafide political junkie, Ron Siegel delivers intelligent, entertaining radio that makes the hard news of the week easy to understand! Ron Siegel is joined by Lynda Eisenmann. Ron Siegel will discuss: Which Comes First… Marriage or Mortgage?; Preparing your home for Spring Selling; What to look for in a Residential Purchase Agreement from the Sellers Point of view; 15 Ways to Benefit from Rising Interest Rates; Real Time Real Estate; Your Credit Matters; Mortgage Minute; Word on Wealth; and so much more. Ron Siegel, consumer advocate and mortgage lender, discusses anything that affects the roof over your head, your bank account or other items that will benefit you / your family. Reach Ron Siegel at  800.306.1990 Ron@RonSiegelRadio.comwww.RonSiegelRadio.comwww.SiegelLendingTeam.com your Yorba Linda Mortgage LenderMortgage Calculator: www.MBELinks.com/RFToolKit  Your Yorba Linda Mortgage Lender offers: Conventional Loans, FHA Loans, USDA Loans, Refinancing, and Reverse Mortgages

.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; height: auto; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; } Buying a home? Click here to perform a full home searchSelling a home? Click here for a FREE Home Value ReportWhen you buy a home, you want to have the seller take your offer seriously. One way to do this is to offer a Good Faith Deposit, or an Earnest Money Deposit. These are not to be confused with a down payment - that is different.If the seller accepts your offer, your Earnest money will go towards the purchase of the home. If you back out, there is a chance that you could forfeit your Earnest Money. This is a tradition in the real estate market in order to show good faith when you put down an offer.In a California purchase agreement, the deposit has to be in escrow within three days after your offer is accepted. Exact amounts should be spelled out in your purchase agreement so there can be no quibbling about what needs to be deposited and when. These Earnest deposits usually range from 1% to 3% of the purchase price. You can put down less or more, but it's really a matter of local custom.If you back out of a contract for no good reason, you could lose your earnest money deposit. This is why contingencies are important when you write your purchase contract. If you simply change your mind about the home, the seller can likely keep that money.Lastly, I want everyone to know that an Initial deposit is commonly required for purchasing homes in CA (as outlined by the Residential Purchase Agreement). The actual amount of the deposit isn't standardized, but you must pay an initial Good Faith or Earnest Money deposit, which comes out of your down payment toward the home.If you have any further questions about this process, please don't hesitate to contact me. I would love to speak with you!

This show continued the discussion of the Statute of Frauds. Eight different ways to discharge a contract were reviewed. Also, remedies for a breach of a contract. There was also a detailed discussion of the "Residential Purchase Agreement and Joint Escrow Instructions". Finally, there was a discussion of Purchase Agreement Addendums, Counter Offers, Seller Disclosures and Option agreements.