Winter 2013 News and notes on living the good life...
CountryMinute
real estate financing– Purchasing real estate is not like riding a bike. No matter how often you do it, you will likely never feel completely comfortable. The good news is that you can sit back and relax when you are working with a good realtor, and of course, a great lender. Although you can rely on your realtor and your lender to handle most of what needs to happen during a real estate transaction, it is good for you to at least have a basic understanding of what takes place.
As soon as that purchase agreement is signed, things start happening. Your realtor will work with you on ordering necessary inspections and tests which may include a soil, well and septic test. Another very important item to have completed is a survey if it was not done prior to the purchase. A survey is typically not required, but can be if it is written into the purchase agreement; surveys are important when it comes to the boundary lines of the property. Knowing this could avoid some
“not so friendly” conversations with your neighbor in the future. Now, let’s jump to the closing of the real estate and the loan transaction. There are three important documents that you will see at the closing: the deed, the mortgage and the promissory note. The deed is what is signed by the seller to transfer the property from the seller to the buyer. There Continued on page 3...
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Snow Day Fun Snow days can be an opportunity to build lasting memories with our kids. Take the day off from work, get creative, and start some family traditions by repeating activities on every snow day! Continued on page 2...
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