You know have chosen your dream houseight think and even better, you've been approved for mortgage. What could go wrong right? well, one more thing you need to worry about is the closing day. You might think it's pretty simple as you'll just sign papers, get the keys and shake on the deal. However, it's not simple as it seems as you would face a disaster if you don't give enough preparation for this important moment.
Today, we provide you some great tips to close on the house of your dreams without any worries.
Ask the right questions
If you have an idea of what to expect during the deal, then you would feel more ready to get on with it. One way to be prepared is to ask questions to be equipped with the right knowledge about you're about to face. Don't be shy to bombard your lawyer or agent for anything that you don't quite understand. Ask them what to prepare, what to expect and what other guidelines you should consider.
You can ensure that everything goes as planned if you review the documents before closing. Make sure you have everything that you need to sign before the actual closing. Some people get in trouble when they get too excited and forget to go through with all the documents that they need.
Be aware of closing costs
Another thing you need to prepare for is the overall closing costs that you would likely pay for. Here are some of the charges you would expect:
Escrow fees - usually, the seller and buyer will split the fees for this. This is will be decided by a negotiation.
Document prep fee - you would pay people to prepare your important documents.
Title insurance - most lenders won't give out money with protecting their interest in the property. There are two types of title insurance that you need to spend on. One for your lender and oe for you as the homeowner.
Credit check - your lender needs to check if you're worthy for a loan or not and there's a charge for this.
Other fees - there are some miscellaneous fees you need to be aware of such as fund wiring, underwriting fee and so on.
If you want to know more details about the fees involved, you can talk to your lawyer or a professional who is an expert in real estate closing solutions.
Check if everything is according to the deal
During negotiation, you might have agreed on some repairs that needs to be done before the deal is closed. Did the seller complete the repairs? You need to check if they held up to his or her end of the bargain before the closing. You can never make the seller accountable once the sale is done.
Transfer under your name
Make sure to transfer the utilities under your name and try to come into terms with the seller when it comes to the shut-off date. You should have all the information that you need before the close.
Try to think of some long term goals that you might have. Are you planning to start a family? Will you have elederly relatives living with you? Or you might considering staying in your home for just a few years. Then , the possibility of selling the house will come into mind and you need to consider your target audiences. Location will play an important role in determining who would possibly buy your house.
Make a checklist
Choosing the right home can be an emotional process. Sometimes, it might be difficult to control yourself and getting carried away with whatever attracts your attention. What you can do is to create a checklist which contains all your must-haves and other things that you need to see on your potential home. Every time you visit an open house, take the list with you so that you can have a guide.
Think of all the possible expenses
Expenses will ultimately affect how you would determine the overall budget you may have. All expenses must be considered and this means, that you should also take note of utility expenses. Call utility companies and ask for any plans that are available in the said area. These expenses will help you see if you can afford the house that you're hoping to buy.
Search other possible sources of funding
Searching for mortgage options might be a bit perplexing especially if your mind is set on the fact that you wouldn't qualify at all. Be open-minded to consider other types of funding that may surprisingly be a better option for you and your income level. Different options revolve around the kind of profession you have and where your potential house is situated.
Never sign the contract unless you have read it
Buying a house involves a big amount of cash. It's more probably the biggest purchase you'll ever do in your whole life. If you don't understand whatever's written on the contract, you may ask your broker or your real estate agent. While you're at it, also seek title insurance services to make sure you won't have any problems with your purchase.
Learn more about the neighborhood.
Try to have a better understanding of what kind of people are prominent in the neighborhood you're interested in. You could try to ask the neighbors about what's happening lately and maybe even ask something about the house you've set your eyes on.
Don't just focus on the staging.
Staged houses will definitely look way better than the regular ones. We sometimes easily get impressed by some added elements during the staging but we must look beyond it. Sometimes there are some items in the staging that seem to be impossible to have in reality. Imagine the house without any of those staging items and focus on the overall layout instead.
If ever you come to the decision of buying your dream house in the future, you need to go over this checklist to have a stress-free experience without the problem of wasting away your hard-earned cash.
Identity theft has been increasing over the years and has become a major concern for most Americans. It's devastating to find out someone is using your name and information to do their ghastly deeds.
Most common forms of identity theft:
False applications for new credit
Credit card fraud
Fraudulent use of an IP address
Fraudulent use of medical care
Fraudulent use of telephone calling cards
Social security fraud
If you suspect yourself to be a victim of identity theft, here are the following things that you need to do as soon as possible to lessen the damages:
Put a Fraud Alert or a Security Freeze on your credit reports
This will notify lendors and creditors that they should take additional steps in verifying your identity before completing any transaction. To put a fraud alert, you need to contact any credit reporting agency such as Equifax.
A freeze prevents any new creditor from accessing your credit reports which automatically rejects new applications.
Contact any affected institution
If you have a prepared list of institutions, this would be easy to do. For example, if your credit card is stolen, report the incident to your credit card issuer.
Contact the FTC (Federal Trade Commission)
You can file an Identity Theft Affidavit and create an Identity Theft Report. You can file your report by phone, by mail or online. The FTC will give you sufficient information on what steps to be taken in relevance to what type of fraud is involved.
File A Police Report
You will need to speak to your local law enforcement office and report the incident. Make sure to have a copy of the police report to complete your Identity Theft Report.
The abuse and neglect of the elderly is quite a problem across the country. It is estimated that one out every 10 elders will experience some certain form of abuse at the hands of an acquiantance, stranger, or caregiver, according to the National Center on Elder Abuse. Seniors are prone to abuse due to their vulnerability which makes these situations more troubling.
Different forms of abuse
Abuse and neglect comes in many forms but here are the most often ones being inflicted:
Insufficient care - failure to provide sufficient food and water, not providing proper hygiene (e.g. bathing), not giving sufficient medical care
Do you work with construction or do you know someone who works at this field? There are a lot of impending dangers in a construction site and without warning, injuries could be acquired during working hours. So, what are the things you need to do if ever you got into a construction accident?
Here the top things you need to do if you become a victim of a construction accident:
Let your supervisor know immediately. This is the first thing that really need to do as soon as possible. You want to prevent others from meeting the same fate as you. If you let your supervisor know, they could secure the area right away and take note of the incident.
Seek medical attention. Getting medical care immediately can reduce any physical damage that you might have acquired. By this way, a doctor can check if you have any serious injuries which can play an important role in your case.
Keep written records. Every paperwork about your injury is vital in getting a fair settlement. Written documents about your doctor's diagnosis, medical expenses and basically anything that has to do with what happened to you needs to be recorded.
Snap photos. Pictures can be a powerful evidence to present during your case. Take photos of your injury, the worksite and other relevant factors that may have something to do with your accident.
Consult with an experienced lawyer. It's not easy to file a claim against your employer or contractor and you might need the help of a lawyer to sort things out. You might not have enough knowledge about the whole process of presenting a claim and all the legal documents you need to present.