Nolo's Essential Guide to Buying Your First Home (76 page)
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Authors: Ilona Bray,Alayna Schroeder,Marcia Stewart
Tags: #Law, #Business & Economics, #House buying, #Property, #Real Estate
BOOK: Nolo's Essential Guide to Buying Your First Home
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list of
Balloon loans/payments
for interest-only ARMS
overview
for seller-financed loans
two-step loans as
Bank-owned (real-estate owned) properties
Banks
for preapproval
researching interest rates
See also
Financing; Lenders; Mortgage entries
Financing; Lenders; Mortgage entries
Base rate, interest
Benjamin Moore Aura paint
Better Business Bureau, information on developers
Bills of sale, reviewing and signing
Binders.
See
Deposits (earnest money)
See
Deposits (earnest money)
Boats, zoning restrictions on parking
Boundary lines
Budgeting
spending habit revisions
websites
worksheets
Builder closeouts
Builder warranties, for newly built houses
Buyers
at closing
hot and cold markets
proof of identity
title insurance paid by
unable to attend closing
See also
Cobuying arrangements
Cobuying arrangements
Buyer’s agents
Buyer’s remorse, coping with
Cancellation of sale
buyer’s remorse and
earnest money deposits and
failure to disclose and
failure to remove contingencies and
preliminary title reports that lead to
refunds for upgrades for not-yet-built houses
seller unable/unwilling to transfer property
title insurance exclusions and
Cash, all-cash offers
Certificate of Reasonable Value (CRV), for VA loans
Certificates of Deposit (CDs), indexes from
Certificates of occupancy
Certified Mortgage Consultants (CMCs)
Certified Residential Mortgage Specialists (CRMSs)
Character
as neighborhood choice priority
of old houses
Children
bringing to house visits
childproofing new home
easing adjustment to new home
at inspections
preparing for move
schools
CIDs.
See
Common interest developments
See
Common interest developments
Civil unions, tenants by the entirety
Closing, tasks to complete before
contingency removal
deed preparation
move preparation
overview
title insurance
Closing agents (escrow agents or officers, title agents)
attorneys for
earnest money deposits to
how they are paid
intrafamily loan document role
overview
responsibilities of
selecting
title insurance role
Closing costs
arranging for payment of
for condominium buyers
for co-op buyers
final review of
GFE protections
junk fees
locking in
for newly built houses
overview
paid by developers
purchase agreement clause
for short sales
for starter houses
tax deductions for
for VA loans
Closing date
asking for more time
delayed closings
first-time homebuyer tax credit and
in offers/purchase agreements
“reasonable time”
Closing documents
affidavits of title
ALTA statements
bills of sale
for co-op buyers
deed of trust or mortgage
deeds
mortgage broker role
mortgage loan
promissory notes
property transfer documents
recordkeeping
reviewing and raising issues
settlement statements
signing and notarizing
Truth-in-Lending Disclosure Statement
Closing (settlements)
attorney role
buyers attending
buyers unable to attend
celebratory tunes for
for co-ops
documents to bring to
overview
real estate agent role
sellers or seller’s agents attending
taking possession following
CMCs (Certified Mortgage Consultants)
Cobuyer Discussion Worksheet
Cobuying arrangements
attorneys to create documents
benefits of
cobuyers unable to attend closing
community property
community property with right of survivorship
factors to consider
joint tenants with right of survivorship
sole property ownership
tenants in common
COFI (11th Federal Home Loan Bank District Cost of Funds), indexes from
Collateral
for home equity loans
for mortgages
Commitment of title.
See
Title reports, preliminary
See
Title reports, preliminary
Commitment or approval letters, from lenders
Common interest developments (CIDs)
agreements
for factory made homes
master insurance policies
overview
PUDs
researching
restrictions on homeowners
rights of use clauses
special contingency removal
townhouses and duplexes
See also
Condominiums; Co-ops; Covenants, Conditions, and Restrictions (CC&Rs)
Condominiums; Co-ops; Covenants, Conditions, and Restrictions (CC&Rs)
Community, sense of
condominiums and
as neighborhood choice priority
Community associations
benefits and drawbacks
CC&R review contingencies and
fees in debt-to-income ratio
master insurance policies
membership contingency
ownership of common areas
relevant document storage
researching
signs of money troubles
special assessments
state laws
Community Associations Institute (CAI)
Community property
Community property with right of survivorship
Comparable properties (comps)
offer amount and
real estate agent role
researching
Competitive market analysis (CMAs)
Condo/Co-Op Worksheet
Condominiums
access to elevators during move
benefits and drawbacks
closing costs
government-assisted loans for
master insurance policies
principal, interest, taxes, and insurance
researching
restrictions on homeowners
rights of use clauses
size of development
special contingency removal
trash collection
See also
Covenants, Conditions, and Restrictions (CC&Rs)
Covenants, Conditions, and Restrictions (CC&Rs)
Consumer Product Safety Commission, recalled equipment
Container Store
Contingency clauses
appraisal
attorney review
CC&R review
for community interest developments
co-op board review
in developer’s standard contracts
failure to remove
final walk-through
financing
homeowner’s insurance
home warranty
inspection
limiting in hot markets
overview
preliminary title report review
removing
seller’s disclosure report review
waiving
Contractors
developer’s failure to pay
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