Three Sellers contacted me last Friday because they found buyers for their properties and were ready to go.Two of the three have completed signing and we have started the process of closing for them.
Number three's buyer called me yesterday, with questions on lender fees and closing costs. I worked up closing costs for her and emailed. We talked a while as I answered her questions.
This is the part I Love doing.
Most buyers and sellers have very little knowledge of costs and just how it all comes together.
It's not every day you buy or sell a house and things do change also.
Just why in the heck do you need title insurance and what is escrow?
How much is all of this going to cost?
Call me - then you'll know!
PS. I Love what I do!
Wednesday, February 6, 2013
Tuesday, February 5, 2013
DO IT- DO IT- NOW!
Real Estate Sellers and Buyers Have Been Waiting For Several Years Now.
It's about time that the market is improving!
A healthy real estate market is the perfect medicine for our country's ailing economy.
From soup to nuts, everything is affected by the building and housing market.
I don't need to study statistics to see what is happening,
Everything has its time and the time to heal our sick economy is NOW!
PS. If I were looking to buy real estate,
I'd do it now, before rates and prices rise -( and they will you know)
It's about time that the market is improving!
A healthy real estate market is the perfect medicine for our country's ailing economy.
From soup to nuts, everything is affected by the building and housing market.
I don't need to study statistics to see what is happening,
Everything has its time and the time to heal our sick economy is NOW!
PS. If I were looking to buy real estate,
I'd do it now, before rates and prices rise -( and they will you know)
Monday, February 4, 2013
How It Really happens...Follow FSBO Chris
Last Friday, Chris called me. He found our www.gatewaytitle.com when he googled for help.in selling his house.
I listened as he explained his situation and offered him the paper work our attorney has prepared for those who are going FSBO (For Sale By Owner).
He printed them from our website - everything he needed - Perfect!
He asked about fees and how we figure them.I explained many final costs are based
on selling price.
He didn't have that as he was making plans to meet with the potential buyer.
I suggested he SMART START his title work and save $125... nice
He did that so I am all ready checking out the title so he can sell.
This scenario is not new to me - been doing it since 1995 -I love what we do.
Good Luck Chris with the potential buyer.
I'm here to help walk you through the closing.
P.S. I keep you posted as to how Chris does.
I listened as he explained his situation and offered him the paper work our attorney has prepared for those who are going FSBO (For Sale By Owner).
He printed them from our website - everything he needed - Perfect!
He asked about fees and how we figure them.I explained many final costs are based
on selling price.
He didn't have that as he was making plans to meet with the potential buyer.
I suggested he SMART START his title work and save $125... nice
He did that so I am all ready checking out the title so he can sell.
This scenario is not new to me - been doing it since 1995 -I love what we do.
Good Luck Chris with the potential buyer.
I'm here to help walk you through the closing.
P.S. I keep you posted as to how Chris does.
Tuesday, January 29, 2013
Okay, I VENTED - I'M FEELING BETTER NOW!
It's safe to call or email me if you need to know what it will cost
to buy or sell that piece of real estate in Ohio.
Email them to: rachel@gatewaytitle.com
Call me at Gateway Title: 440-546 9660
I really do enjoy helping you and
answering your questions.
to buy or sell that piece of real estate in Ohio.
Email them to: rachel@gatewaytitle.com
Call me at Gateway Title: 440-546 9660
I really do enjoy helping you and
answering your questions.
She said::"SHARPEN YOUR PENCIL" - REALLY?
I get calls from buyers and sellers everyday.
They ask a million questions about all phases of real estate.
Much of the time it is about closing costs.
I always take the time to explain who usually pays for what and how much.
Now, this is not something I just throw out there. Many of the fees
depend on the price or if it is a refinance. the amount of the loan.
That being said, I'll explain to you how I figure costs.
1. Examination of records to determine the condition of the title.
2. Escrow fee to cover the cost of escrow officer who handles all of the paper work
and funds required, clears the title so that buyer gets marketable title, prepare paper work
from the lender for buyer, get deed for seller, pay all of the bills,
make sure the buyer gets the property
and disburse to seller their money and more...
3. Title insurance premiums in Ohio are all the same since Ohio is a "rated state".
The cost of the insurance is based on the price or mortgage amount.
TOTAL closing costs will be more than the above three items.
We have to collect up front from buyer and/or seller for transfer tax, filing fees, lenders' mortgage fees,
real estate commissions and other recording fees, cost of survey, wire fees, overnight fees..and it goes on and on.
What ever the contract states - we do!
So -there are TWO fees that I control:
TITLE & ESCROW
So, depending on the information you provide, based on the selling price, I can figure out an estimate of closing costs for both buyers and sellers.
Just give me call.
But.... please remember, there are many costs I collect not many are actually mine!
They ask a million questions about all phases of real estate.
Much of the time it is about closing costs.
I always take the time to explain who usually pays for what and how much.
Now, this is not something I just throw out there. Many of the fees
depend on the price or if it is a refinance. the amount of the loan.
That being said, I'll explain to you how I figure costs.
1. Examination of records to determine the condition of the title.
2. Escrow fee to cover the cost of escrow officer who handles all of the paper work
and funds required, clears the title so that buyer gets marketable title, prepare paper work
from the lender for buyer, get deed for seller, pay all of the bills,
make sure the buyer gets the property
and disburse to seller their money and more...
3. Title insurance premiums in Ohio are all the same since Ohio is a "rated state".
The cost of the insurance is based on the price or mortgage amount.
TOTAL closing costs will be more than the above three items.
We have to collect up front from buyer and/or seller for transfer tax, filing fees, lenders' mortgage fees,
real estate commissions and other recording fees, cost of survey, wire fees, overnight fees..and it goes on and on.
What ever the contract states - we do!
So -there are TWO fees that I control:
TITLE & ESCROW
So, depending on the information you provide, based on the selling price, I can figure out an estimate of closing costs for both buyers and sellers.
Just give me call.
But.... please remember, there are many costs I collect not many are actually mine!
Thursday, January 24, 2013
BUYER'S DEMANDS BULLY SELLER
How Buyers have changed over the years. When we bought our first home, we bought the home not the color of paint on the walls or type of counter tops in the kitchen. We looked for the house that met our family's needs and offered the neighborhood in which we felt comfortable. We knew there were things we would be changing as we made the house our home.
The right fit for our family came in PINK - yep a pink house! We moved into the home in Sept. and the following summer I - yes ME- I painted it white! The little "pink" house went through many changes in the 4 years we lived there and by the second year, it was just the way I wanted it.
We put new tile in the bathroom, new carpeting throughout and repainted to our taste in colors. I always had the feeling that if I looked for a place that needed nothing, it would always be someone else's house and I wanted it to reflect our family. There also was a lot of pride in knowing we had done it and made it "Ours".
I have the feeling that today's buyers are missing out and paying a lot more than they have to for someone else's decor.
I've seen "laundry lists" of things the buyers want sellers to do.Of course, the offered bid was very low. New roof, new furnace, remove wall paper, paint basement...Yes, it is ridicules!
I suppose this all started because sellers were so desperate that they were willing to do most anything to sell. Let's see...buy low and have the seller remodel!
The market is improving and sellers are not as desperate. I would like to see common sense return to the real estate market. Think it will happen or do we all watch "House Hunters" too much on tv?
The right fit for our family came in PINK - yep a pink house! We moved into the home in Sept. and the following summer I - yes ME- I painted it white! The little "pink" house went through many changes in the 4 years we lived there and by the second year, it was just the way I wanted it.
We put new tile in the bathroom, new carpeting throughout and repainted to our taste in colors. I always had the feeling that if I looked for a place that needed nothing, it would always be someone else's house and I wanted it to reflect our family. There also was a lot of pride in knowing we had done it and made it "Ours".
I have the feeling that today's buyers are missing out and paying a lot more than they have to for someone else's decor.
I've seen "laundry lists" of things the buyers want sellers to do.Of course, the offered bid was very low. New roof, new furnace, remove wall paper, paint basement...Yes, it is ridicules!
I suppose this all started because sellers were so desperate that they were willing to do most anything to sell. Let's see...buy low and have the seller remodel!
The market is improving and sellers are not as desperate. I would like to see common sense return to the real estate market. Think it will happen or do we all watch "House Hunters" too much on tv?
Wednesday, January 23, 2013
"For Sale By Owners" More Determined Than Ever!
We, at Gateway Title, truly are "FSBO"(For Sale By Owner) experts.
This has been our niche' for 17 years and we have seen it all!
Before 2008, sellers would put their house on the market "by owner" to try it for a couple of weeks.
They usually set the asking price too high with the thought of making a real killing in a seller's market!
After a couple of weeks, if the property is not sold, the sellers call a real estate agent and list at a true market price,it sells and they pay a commission.
Then of course, the past 4 years have been pretty dead. They go "by owner", then list, and when it expires go back to FSBO or, in total frustration, take it off the market completely!
Now the "For Sale By Owners" are coming back with a determination I have never seen before.
They order our "Starter Kit" and also, as never before, read every word and call to "Smart Start" the title work (saves them $$).
They are tuned in to the real market value, they refuse to have to pay comission, many times,
they offer modest
closing credits to a buyer, and THEY ARE SUCCEEDING!
It seems like Gateway is part of the FSBO underground because we get so many request from sellers who were referred by other buyers and sellers.We are working with many "family to family" transactions like never before and it seems like "starter" homes are back in demand!
Folks come out of the blue to use our services and we absolutely LOVE it!
We hope this activity is an indication of an improving market for all.
Heaven knows a better economy is what we're all praying for!
PS. Don't stop praying...We think it's working!
This has been our niche' for 17 years and we have seen it all!
Before 2008, sellers would put their house on the market "by owner" to try it for a couple of weeks.
They usually set the asking price too high with the thought of making a real killing in a seller's market!
After a couple of weeks, if the property is not sold, the sellers call a real estate agent and list at a true market price,it sells and they pay a commission.
Then of course, the past 4 years have been pretty dead. They go "by owner", then list, and when it expires go back to FSBO or, in total frustration, take it off the market completely!
Now the "For Sale By Owners" are coming back with a determination I have never seen before.
They order our "Starter Kit" and also, as never before, read every word and call to "Smart Start" the title work (saves them $$).
They are tuned in to the real market value, they refuse to have to pay comission, many times,
they offer modest
closing credits to a buyer, and THEY ARE SUCCEEDING!
It seems like Gateway is part of the FSBO underground because we get so many request from sellers who were referred by other buyers and sellers.We are working with many "family to family" transactions like never before and it seems like "starter" homes are back in demand!
Folks come out of the blue to use our services and we absolutely LOVE it!
We hope this activity is an indication of an improving market for all.
Heaven knows a better economy is what we're all praying for!
PS. Don't stop praying...We think it's working!
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