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FIND YOUR DREAM HOME OR APARTMENT

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Jan 24, 2014 1:23PM
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It's all about the close! These were really great ideas. I've been wanting to learn more of these methods. Where can I see some more?
Celine |  <a href='http://www.robertsfisherlaw.com' >http://www.robertsfisherlaw.com</a>
Jan 24, 2014 1:23PM
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It's all about the close! These were really great ideas. I've been wanting to learn more of these methods. Where can I see some more?
Celine |  <a href='http://www.robertsfisherlaw.com' >http://www.robertsfisherlaw.com</a>
Jan 11, 2014 10:47AM
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Banks can drag on the paperwork for months. There need to be a Federal mandate for them to process in a timely manner.
Jan 11, 2014 10:28AM
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We closed on our house in 7 days in Oct 2011. We came to SW Florida from Indiana after selling and the closing of our house there in Indianapolis. I left the minute that we got the check. We found a home in Florida out of about 30 we looked at. And setup a closing for 1 week. We did have cash from the equity of our old home that sold. We bought a 4 bed 4 full bath older 1964 updated home for $41k cash. They were asking $59k for it. Zillow says it's worth about $90k now. It even has a tiled shower outside for the trips home from the beach just 2 miles away. We still can't believe the deal that we got. The house was worth $180k back in 2005. Thank you Bush Jr and for the economic collapse. At least you helped the average person in one way with the housing crisis. I feel like we have won the lottery. 

I started a small lawn business here and doing really well with it. Already worked my way up to 60 accounts, two zero turn Dixie Choppers, 3 echo trimmers, and such. Not too bad.
Jan 11, 2014 7:38AM
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This article is over a year old, based on comments made in 1/2013.
Jan 11, 2014 7:05AM
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"The actual part of the mortgege could only take 20 minutes"

True...if you only want to sign and have no explanation as to the legal impact of the documents you are signing. As an attorney who conducts hundreds of real estate closings a year, our firm's practice is to advise clients that the documents contain legal obligations they should be informed of and to please allow us to explain them so they have a clear, full understanding of their obligations with the lender. Anyone attempting to rush someone through the signing should be told to explain each document (unless they have purchased or refinanced a home within the past two years or have sufficient experience or knowledge tto forego the explanations). In some states, title companies or closing agents conduct closings and, thus, may not dispense legal advice. At the expense of some on here replying that I am attempting to push my profession, hire an attorney to explain the documents to you before or at the closing. It will be the best $200 or so you will spend throughout the entire transaction.
Jan 11, 2014 6:20AM
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What I heard in my head while reading this article was blah, blah, blah, lots of people at the trough trying to validate their jobs.


Jan 11, 2014 4:17AM
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Umm, a Certified Check *is* a check that you've just ripped from your checkbook. It's stamped Certified that the funds are available. 
Jan 20, 2013 11:21AM
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The mortgage servicer should have the entire document to be signed ready to go, not pulled off the copy machine as you are signing "here". So , they don't hide important documents in the mess, like the interest statements and important dates.  Make them explain everything . Check that INTEREST statement/document you sign.
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Great information for homebuyers in today's tight regulatory environment.  A well prepared client with good documentation, a solid home inspection, and appraisal will help most of today's buyers better prepared for a streamlined closing.  
Jan 20, 2013 8:07AM
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Save. Save. Save.  You can buy house 6-10 years from now with big down payment at reasonable price.  Salary and job loss will wipe out everythhing
Jan 20, 2013 6:11AM
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You forgot the 2nd. most important aspect of a Home Purchase. First, pick a Real-estate Agent you feel good about. Second, do your homework and pick a Home Inspector to look over your prospective purchase. Don't discount the fact that some inspectors work with agents and you should interview them as well as a few you would call.  Price is not the best selection for a home inspector, rather talking with them, even meeting them and find out what their qualifications are and do some background on them by asking others.  Are they affiliated with a membership group, how long does it take to complete the inspection, what do they cover or look for, details and what type of reporting to they present.

The Real-estate Agent, Inspector, Appraiser and related information are your gateway to better home ownership.

Jan 20, 2013 5:42AM
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First of all, have an honest talk with your lender. Lenders don't make the rules, the investors (Fannie, Freddie,etc) do. Trust me, everything is document, verify, document. Yes, your tax returns are going to be checked against what you filed, yes we are going to look at your bank statements, yes if you say you worked for an employer for 3 years and the verification comes back 2 years, there will be an explanation needed. The dumbest thing I saw was in the middle of a closing, the buyer went on vacation for over 2 weeks (out of cell phone or e-mail coverage) and there was no way to contact him when the property didn't appraise. Also, realtors and most lenders are on commission. They don't get paid until the sale happens. Trust your instincts or ask someone (who is knowledgable but not a party to the transaction) to guide you. Don't skip the walk through or make it as close to closing as possible. I wish I had a nickle for every borrower who called me in distress because at the last minute, the seller took out light fixtures or didn't finish removing trash. Once I had the seller their proceeds, Good Luck getting them back. Remember, you are on the hook for a major investment. This will be one of the most stressful periods of your life.
Jan 20, 2013 5:26AM
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When you sell a house, you get on a train with many other people who have the same closing date as you do in-order for you to take possession of the home you bought or sold. If anyone on that train has an issue then everything, everyone is impacted...
Jan 20, 2013 4:57AM
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I'm not sure where the people writing the article live but most of this is nowhere close to what really happens. In Texas, we seldom go past 30 days to close unless the principals have agreed to a delayed closing. Cash deals can be closed in about a week. Also, if you're buying a house currently occupied, the seller has to have time to find a house and that seller may need time to move. Most people don't put their house on the market, ready to move in a week. So you have a domino effect and at any point in the process, one of those people can have issues. The lenders don't just have 5 clients, they are usually working with many open files so asking them to move you to the front of the line isn't going to happen.Appraisers are chosen by the bank, not the loan officer and from the time the appraisal is done, the lender doesn't get it back for at least a week. The escrow company has to be agreed on by both buyer and seller so you can't just pick one-it's a negotiable item.

The comment from D.McLeod really irritated me; yes, I am a Realtor and I am not clueless and I don't only care about the money. It's my job to make sure this whole process goes as smoothly as possible to the extent that it depends on me but I don't control the lender or the escrow agent. You must have had a bad experience somewhere but I am the kind of Realtor that if things don't go as planned, am on the phone to all these other people to find out why. I've also been known to pay for things myself if it couldn't be worked out. I guess I'm the kind of Realtor you've never had.

Jan 20, 2013 3:54AM
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1984, my first house, we closed in 8 days.

 my second home, made the offer the day after Christmas. Closed January 16th 2010. 21 days.

Jan 20, 2013 2:29AM
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Some of the information in the closing article is OK but most of it is CRAP and they missed the most impotant point. Most people spend more time reseaching the purchase of a MATTRESS than they do on learning about and protecting themselves in the largest and most expensive investment that most of them will ever make.  1.) DO NOT RELY ON THE REALTOR.They are salespeople and have their commission in mind not your well-being. The very few that are the best of them will not do too badly but most of them are CLUELESS even though they will talk like they know everything. 2) 3) and 4) Hire a LAWYER or retain an Escrow service run by a lawyer and retain the lawyer's  services as well. This is often no more expensive than going without legal representation. The Realtor's first loyalty is to the seller - ASK THEM - the Mortgage Broker's first loyalty is to the Mortgage Lender and many are or have been prosecuted in the wake of the recent melt-down. Mortgage Brokers were at the heart of it. Hiring a LAWYER means that their first loyalty is to YOU. Many people have found out they needed a lawyer after it was too late - and that is the problem. By the time you realize you need one it is already too late. Hire one specializing in Real Estate transactions BEFORE you sign a Purchase Agreement or Loan Commitmment. Don't tie their hands by agreeing to something you didn't understand and then trying to get out of it. All too often it is too late.... and NO, I am not a Lawyer, just someone who hates being ripped off.
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