| Top 10 Benefits of Home Ownership 1. Stop paying somebody else’s mortgage. 2. You can paint the walls any color you want! 3. Two words: Tax Savings. 4. Increase privacy & independence. 5. Watch your investment increase in value. 6. Feel pride of ownership. 7. Strengthens financial credibility. 8. Say goodbye to landlord. 9. Invest in your future. 10. Delight in comforts of your own home. |
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| Here are some great key steps to buying a home: *Step One: Get pre-approved for a loan This is probably the best advantage you can give yourself as a buyer. Sellers will take your offer more seriously & you'll have an edge over buyers that are not pre-approved. *Step Two: Market Analysis We provide a comprehensive list of available area properties so you can become familiar with what's on the market and it's pricing. It can help you get the most for your money. *Step Three: Choose a Professional Having an agent represent you as a buyer gives you great advantages and it doesn't cost anything. Call The Robinson Team for any real estate needs. *Step Four: Getting Your Loan When you find the right home, we can make the process of financing easier. We'll help lead you in the right direction based on your current finances and how long you plan to own your home. |
| Buyer's Guide To Foreclosures What to know before you go.. *Get Pre-approved - Banks require a letter of approval or proof of funds. Your Realtor should check if there are any special requirements before making an offer. *Get Availability - Foreclosure departments are in receipt of 10-30 offers per day. Availability of properties changes by the minute. *Get Real - REO properties are usually listed below market value so they can move quickly. Banks are restricted by sale price approval guidelines that correlate directly to the list price. If the property is out of your range, wait 30 days to see if there has been a price reduction. You are ready to make an offer.. *As-Is -Your offer will be written on either an As-Is contract or a Sales Contract with an As-Is addendum. This means the Seller has no knowledge of any current or pre-existing issues with the property. You will rely solely on inspections to decide if you will proceed. Typical inspection period is 5-10 days. *Title & Escrow - Banks use foreclosure attorneys & large title companies to issue title policies & handle closings. Typical 3-10% deposit earnest money to secure the contract. *Timelines/Negotiations - Once an offer is submitted, you should receive a response within 24-72 hours if there are no other offers. If there are multiple offers (very common), the Seller always goes back to all parties requesting highest & best. Your offer was accepted.. *Final Approval - Be aware that your offer may be accepted pending Final Approval. This process can take from 24 hours to 2 weeks. *Addendums - Once the offer is fully approved, you will receive Bank Addendums to complete. Once the complete package has been sent to the Seller, you should receive the Executed Contract within 1-5 business days. *Escrow - The title companies & law firms that banks use to issue policies usually require the escrow deposit by wire transfer or cashiers check. Obtain a disclosure of buyer's closing fees. Many larger closing companies charge higher than normal closing fees. *Title Issues - There is a possibility that you will be faced with some type of title issue before you get to closing. Some of the issues are Certificate of Title Recordings, judgment hearing, etc. Depending on the time needed to cure the issue, the Seller may decide to cancel the contract, return earnest money to Buyer & withdraw from the market until the issue is resolved. You are closing.. *Location - Although the Seller’s title co. may not be local, your closing can be held anywhere you would like. Most title companies provide you with a courtesy closer. *Title Policy - At closing you will receive a title commitment with a list of exceptions that will be removed once the actual policy is issued. Your original policy will be mailed to you at the address you specify which may take 1-3 months. *Funding/Keys - Before you sign, you will be provided with a closing statement breaking down all the fees & providing a balance to bring to closing in the form of a wire transfer or cashiers check. Wire transfers can decrease the funding time. The Realtor is not authorized to release keys until funding. A wire transfer is most secure and will allow you to move in quicker. |
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| Rusty Says: Call The Robinson Team now to "retrieve" a FREE list of FORECLOSURE properties in Ocala & Marion County! |
| 2226 E. Silver Spgs. Blvd. Ocala, FL 34470 352-547-2723 office 352-812-3137 cell 352-427-7333 cell 352-547-2823 fax robinsonteam@hotmail.com |
| Cathy Robinson, CRS, GRI Summer Robinson, GRI |
| Experience Counts... Count on The Robinson Team! |
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| Best To Buy Before New FHA Guidelines Take Effect In Summer 2010 Starting in early summer, the Federal Housing Administration is tightening lending standards in an effort to bolster its dwindling reserves. The new lending standards will make it tougher for some prospective buyers to purchase a home by requiring a higher down payment than the typical 3.5 percent for some borrowers, higher insurance premiums and reduced seller concessions. New Guidelines •Better Credit Score — New borrowers will have to have a minimum credit score of 580 to qualify for a 3.5 percent down payment. •Higher Insurance Premiums — Buyers who get an FHA-insured loan will soon have to pay a higher initial insurance premium. The new premium will be 2.25 percent of the value of total loan amount, up from 1.75 percent now. •Reduction in Seller Concessions — Sellers will not be able to offer as much help to buyers to pay their closing costs. The maximum amount of assistance will drop to 3 percent of the value of the property, from the current 6 percent. ***Effective Feb. 1, the federal government has waived for one year an FHA anti-flipping rule that prohibits insuring a mortgage on a home owned by the seller for less than 90 days. The new rule lets investors buy today and re-sell as quickly as possible. The move is to allow REO homes purchased by investors to resell as quickly as possible, helping stabilize real estate prices and revitalize neighborhoods.*** Source: RealtyTrac |
| The Homebuyer Tax Credit has been extended and expanded!!! Have you been on the sidelines waiting for prices to go lower before house shopping? Well, now's the perfect time to make your move.. A newly passed law vastly expands and extends the tax credit through the spring of 2010, increasing the number of people eligible for homebuyer credits by boosting the income eligibility limits, giving buyers more time, creating a $6,500 credit for current homeowners and launching more accommodating rules for members of the military. |