Info for Buyers
- Home Buyer Questionnaire
- Overview of the Buying/Selling Process
- Benefits of Owning
- Finding the right home
- Home Owner Shopping Tips
- Home Inspections Questionnaire
- Home Buyer FAQ’s
Future Home Buyer Questionnaire
Please take a moment to answer the following questions. Your answers will help me to create a specific homes for sale Vancouver WA search profile in the Residential Multiple Listing Service (RMLS). You will then be able to receive listed properties that match your specific needs on a daily basis. When you see a property that catches your interest just email me with the listing number and I will schedule a time so that you can view the property.
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Travis Maley Phone: (360) 772-0036 |
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I look forward to helping you with your real estate needs. Sincerely, |
Overview of the Buying / Selling Process
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Benefits of Owning
Credit:
Owning a home helps you establish financial credibility.
Independence:
Owning a home gives you independence and more privacy than renting. You are free to paint walls, plant flowers, keep pets and anything else within legal limits.
Investment:
By making more payments and own more of your home, adds to their investment value. Most improvements you make also will add to its value.
Pride:
A home reflects its owner’s values and lifestyle. Owning a home can provide a source of pride, pleasure and satisfaction.
Safety:
A home can provide security against inflation because it increases the value of your home as prices rise.
Stability:
Installed in a community provides a sense of belonging, stability and security.
Tax advantages:
Interest on your mortgage is the annual deductible on your personal income tax. Many of the closing costs associated with purchasing your home are deductible, as are your property taxes.
Finding the right home
Realtors
You can sit with a real estate agent and discuss your needs, type of area, style of home, amenities and everything you really want in your next home. The real estate agents can help you by accessing a Listing Service which covers all properties listed for sale within a specific area. Together, you can select the homes that would like to see, set appointments and preview homes in a short period of time. An agent can guide you through the entire process.
Newspaper Ads / Internet
Many people go through the classified section of real estate or surf the Internet to find a home that appeals to them. However, your real estate agent will have many listings available that may not appear in the newspaper or Internet on a continuous basis. New to enter the market daily.
Multiple Listing Services
Your real estate agent should have access to multiple listing service if available in your area. Usually includes the following details about properties and homes for sale Clark County:
- Location
- Price
- Photography
- Utilities
- Services
- Annual property tax
- Current funding (when assumable)
- Company Overview
When Previewing A Home
- Write notes when previewing a home so you can discuss the details later with your real estate agent.
- Ask questions about the home and discuss any objections or concerns you may have.
- Ask about the community – schools, shops and transport.
- Ask specific questions about the construction of the house, electrical, plumbing, heating, cooling systems, etc.
Have Fun
Relax. Finding your new home can be a rewarding experience. Have a good time and enjoy the process.
Home Owner Shopping Tips
Check For Properly Working Appliances/Fixtures:
Kitchen
- Kitchen cabinet doors
- Drawers
- Sinks
Appliances
- Dishwasher
- Stove
- Oven
- Ice maker
- Garbage disposal
- Range hood
- Refrigerator
- Freezer
- Microwave
- Trash compactor
Bathroom
- Sinks
- Showers/tubs
- Toilets
- Vent fan
- Heating fan
General
- Lights (interior & exterior)
- Windows
- Heating system
- Ceiling fans
- Hot water system
- Air conditioning system
- Electrical outlets
- Door bells
- Doors
- Water purifier
- Fireplace damper
- Garage door
Ensure House Is Well-Built & Systems Are In Working Condition:
Interior
- Sub-flooring damaged or loose
- Cracked walls or ceiling
- Cracked tiles
- Loose plaster
- Flooring damaged
- Soft, springy floors
- Water stains near windows
- Water stains on ceiling below bathroom
- Water stains in attic
- Pipe insulation missing
Exterior
- Brick bulging or cracking
- Shingles missing or broken
- Siding rotted or missing
- Gutters damaged or need to be cleaned
- Concrete cracked in sidewalks/driveway
Basement
- Water seepage in basement
- Cracks in foundation
- Poor ventilation
Home Inspections Questionnaire
What is an inspection?
There are numerous types of inspections. An inspection is to assess, at least the structural and mechanical condition of a property. It is not the same as an assessment that evaluates the market value of a property. Persons involved in real estate transactions need objective information on the physical condition of property they plan to buy or sell and the contract should include a contingency that you obtain a satisfactory inspection report. Talk to your agent about the types of inspections available.
Home Inspectors
Home Inspectors will examine any component of a building, through visual means and through normal user controls, without the use of the mathematical sciences.
Find a qualified inspector
- References from satisfied customers
- Referral of a local real estate agent or mortgage company
- Your local consumer affairs
- Yellow Pages under “Building Inspection Services”
Ask if he / she is a member of the American Society of Home Inspectors (ASHI). The ASHI has established standards of conduct with specific services, limitations and exclusions that can be expected from private home inspectors.
Each inspection should include but not limited to, an evaluation of at least the following:
- Foundations
- Plumbing and electrical systems
- Doors
- Ceiling, walls and floors
- Roof
- Refers to hazardous materials
- Heating and air conditioning
- Common areas (in condominiums)
- Insulation
- Ventilation
Home Buyer FAQ’s
What is the difference between “pre-qualified” and “pre-approved?
If you are “pre-qualified” you have determined, with a loan officer, what price you can afford based on down payment, debts and the amount the mortgage company will approve for your mortgage. Being “pre-qualified” is only a determination of probable credit. If you are “pre-approved, your credit, employment and funds have been approved by the lender.
What are closing costs?
Closing costs are an accumulation of loads of attention to the various entities associated with the buying and selling real estate. For buyers, typically 4-6% of the total sales price of a property. Some of the closing costs that can be found are: application fees, appraisal fee, county taxes, credit report, discount points, documentation fee, escrow fees, homeowners association fees, loan fees, mortgage insurance, origination fees, recording taxes and title insurance premium.
What is the point?
One point equals 1% of the new loan amount. Whenever government regulation, state usury laws and / or competitive practices prohibit the lender from charging a rate that would make the real estate loan competitive with other fields of investments, the lender must seek some method to improve performance for investors. By charging “points”, the lender can bring the real estate loan to other investments.
What are the signs?
When you bid, you must place a money deposit as a sign of good faith that you are seriously interested in buying a house. That deposit becomes a part of the purchase price and is held in a trust account until there is full acceptance of the offer. Typically, an earnest money is 3-5% of the bid amount.
What is title insurance?
Title insurance protects the person named against loss due to defects, liens, encumbrances, adverse claims or other matters not shown or disclosed to the new owner that attach before date of policy.
Is it unfair FHA or VA financing with sellers?
FHA and VA loans provide purchasers the opportunity to buy homes with minimal cash investment and at lower interest rates. The result is a larger market for sellers, who also benefit by receiving all cash for their capital.
What are closing costs?
Closing costs are an Accumulation of charges paid to different entities associated with the buying and selling of real estate. For buyers, they are usually about 4-6% of the total sales price of a property. Some of the closing costs you might encounter are: application fees, appraisal fee, county taxes, credit report, discount points, documentation fee, escrow fees, homeowners’ association fees, loan fees, mortgage insurance, origination fees, tax registration and title insurance premium.
What is the point?
One point is equal to 1% of the new loan amount. Whenever Government regulation, state Usury Laws and / or competitive practices prohibit the lender from charging a rate of interest that would make the real estate loan competitive with other fields of investments, the lender must seek some method of increasing the yield for the investors. By charging “points”, the lender can bring the real estate loan up to those other investments.
What is earnest money?
When you make an offer, you will need to put up an earnest money deposit as a sign of good faith to show that you are seriously interested in buying a home. That deposit becomes a part of the purchase price and is held in a trust account until there is full acceptance of the offer. Typically, an earnest money is 3-5% of the offer amount.
What is title insurance?
Title Insurance protects against the named insured loss because of defects, liens, encumbrance, adverse claims or other matters not shown or disclosed to the new owner that attach before date of policy.
Is VA or FHA financing Unfair to sellers?
FHA and VA loan purchasers provide the opportunity to buy homes with minimal cash investment-and at lower Interest rates. The result is a larger market for sellers, who also benefit by their receiving all cash for equity.
