Huntsville Real Estate

1. Look for exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These coverages must be bought separately.
2. Look for dollar limitations on claims. Even if you are covered for a risk, there may a limit on how much the insurer will pay. For example, […]

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The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:

Downpayment.
Loan origination fees.
Points, or loan discount fees you pay to receive a lower […]

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It’s important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transactions. Ask your salesperson to explain what type of agency relationship you have with him or her and with the brokerage company.

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1. W-2 forms or business tax return forms if you’re self-employed for the last two or three years for every person signing the loan.
2. Copies of at least one pay stub for every person signing the loan.
3. Copies of two to four months of bank or credit union statements for both checking and savings accounts.
4. […]

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Be sure you find a loan that fits your needs with these comprehensive questions.
1. What are the most popular mortgage loans you make? Why?
2. Which type of mortgage plan do you think would best for us? Why?
3. Are your rates, terms, fees, and closing costs negotiable?
4. Will I have to buy private mortgage insurance? If […]

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1. It protects your ownership right to your home both from fraudulent claims against your ownership and from mistakes made in earlier sales, such a mistake in the spelling of a person’s name or an inaccurate description of the property.
2. It’s a one-time cost usually based on the price of the property.
3. It’s usually paid […]

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Be sure that:

repairs you’ve requested have been made. Obtain copies of paid bills and any related warranties.
all items that were included in the sale price—draperies, lighting fixtures—are still there.
screens and storm windows are in place or stored.
all appliances are operating.
intercom, doorbell, and alarm are operational.
hot water heater is working.
HVAC is working.
no plants […]

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If your income and savings are making homebuying a challenge, consider these options.
Investigate local, state, and national downpayment assistance programs. These programs give loans or grants to cover all or part of your required downpayment. National programs include the Nehemiah program, http://www.getdownpayment.com, and the American Dream downpayment fund from the Department of Housing and Urban […]

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When you sell a stock, you owe taxes on your gain—the difference between what you paid for the stock and what you sold it for. The same is true with selling a home (or a second home), but there are some special considerations.
How to Calculate Gain
In real estate, capital gains are based not on what […]

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