Guide.S

SHome Buyers GuideTable of Content

Page 1: Choosing a Real Estate Agent

Page 2: The Lender

Page 3: Home Seller’s Process

Page 4: What is Escrow

Page 5: Escrow Process

Page 6: Escrow Q&A

Page 7: Escrow Q&A - Continued

Page 8: Life of an Escrow

Page 9: Title Insurance Process

Page 10: Holding Title

Page 11: Payment Procedure

Page 12: Seller’s Cost Sheet

Page 13: 7 Tips before Selling your Home

Page 14: 15 Home Selling tips

Page 15: 15 Home Selling tips - Continued

Page 16: Presenting your home

Page 17: Maintenance and Repair

Page 18: Moving and Packing Tips

Page 19: Moving Checklist

Page 20 & 21: Glossary

Personal Notes

All information contained in this book is for informational purposes and is not intended to offer advice - legal, financial or otherwise - about specific situations or problems. This information is a general guideline only, consumers are urged to consult legal councel regarding their rights and responsibilities under state and federal law. The information contained is deemd reliable but not guaranteed.

CalCounties TitleNation Company - is a registered trademark of CalCounties TitleNation Company. All Rights Reserved ©

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Home Seller’s GuideChoosing A - ReAl estAte Agent

Listing your home with a qualified agent can make all the difference in the world when it comes to selling your home. Selling a home is a lot of work, therefore having an agent is very helpful.

Here are a few reasons why you should use an agent when selling your home:

-> An agent will assist you with negotiations with the buyer

-> An agent know the market and can help you set a reasonable price

-> An agent has better resources for locating buyers and information on recent sale prices of homes around you

-> An agent has a broader range of advertising options

-> An agent can screen for buyers who are financially able to purchase your home

-> An agent will save you time!

Home Seller’s Guidethe lendeR

There are many advantages of working with a reliable, professional lender. Some of their very importat services are as follows:

Pre-Qualification of all Prospective Buyers: Your lending professional should pre-qualify each potential buyer to ensure that they are sufficiently qualified by thorough examination of their credit status and current financial situation. This is extremely important to eliminate wasted time negotiating with unqualified buyers.

Ability to find the right Loan at Competitive Prices: A reliable lending professional will shop for the best loan and the best possible price. This affords the borrower the freedom to select the loan best suited for their needs at the best pricing, without having to shop all over town.

Efficient Follow-up and Teamwork: Once the transaction has been negotiated, the lender works hand in hand with the other support team members to ensure that the loan is approved and funded in a timely manner. They locate and handle any unforeseen situations before it becomes a problem, and keeps you informed of all important details along the way.

A Good Lender will Handle Potential Buyers with Care and Confidentiality!

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Home Seller’s Guidehome selleR’s PRoCess

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Home Seller’s

Chose Realtor List your Home Schedule an open House

Review Offers Accept Purchase Agreement

Open Escrow

Chose Escrow and Title Company

Deposit Ernest Money

Seller’s Transfer Disclosure Statement

PreliminaryTitle report

Secure Lender

Begin LoanProcess

Property Inspection

PropertyAppraisal

Purchase Home Owners Insurance

Loan Approval

Remove Financial Contigencies

Closing Escrow

Deposit Balance of Down Paymentto Escrow

Sign Closingand Loan PaperWork

Record Documents

Escrow ClosedLoan Funding

Escrow is a way of transferring or exchanging property and/or money using a neutral third party. In many jurisdictions, escrow agents constitute a distinct profession with its own training and accreditation requirements. In other jurisdictions, such as Canada, escrow functions may be performed by attorneys. In either case, the escrow process is covered by significant regulation and protection through the use of licensing and/or bonding.

Escrow is most commonly associated with real estate transactions. When a home or property changes hands, the seller of the property transfers the property title to the escrow agent. Similarly, the buyer either transfers funds or has a bank transfer mortgage proceeds to the escrow agent. When all conditions of the purchase agreement are met, the escrow agent assigns the property title to the purchaser and distributes the funds to the seller.

An escrow is created when money and/or documents are deposited with the escrow agent. The escrow agent’s authority is strictly governed by writteninstructions, mutually agreed upon by the parties involved. The instructions direct the escrow holder to perform duties necessary to complete the transaction. A few of the tasks which may be required are:

-> Receive and deposit earnest money -> Order information for payoff of existing liens -> Calculate and/or prorate taxes, liens, interest, rents, and insurance policies -> Make arrangements for title insurance protection for the buyer and lender -> Prepare and/or receive documents relating to the escrow -> Request and receive funding from new lender when conditions have been satisfied -> Arrange for recording of the conveyance documents and any other legal instruments required to transfer title to the property pursuant to the terms of the purchase agreement -> Close the escrow and disburse funds as agreed upon in the instructions -> Prepare a closing statement for the parties showing disposition of funds

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Home Seller’s GuideWhAt is - esCRoW

What Information is Needed?Confidential Statement of Identity Because many people have the same name, the statement of identity is used to identify the specific person in the transaction by determining date of birth, social security number, etc. The statement form is necessary and the information is kept confidential.

Provide the escrow holder with the name, address and phone number of your lender

as soon as possible after opening escrow.

Hazard/Fire Information If you are purchasing a single family, detached home, or in some cases, a town home, be sure to order your fire/hazard insurance once your loan has been approved. You should immediately begin looking for an insurance agent; not all companies can write fire hazard insurance. Call your escrow holder with the insurance agent’s name and phone number so that he/she can make sure the policy complies with your lender’s requirements. You must have your insurance in place before the lender will fund money to the title company.

Holding Title Page 10 shows common ways of holding title to help you understand the criteria for determining how you wish to hold title to your home. The escrow holder will need this information in order to prepare the grant deed, and your lender will need this information to prepare loan documents. We suggest you consult an attorney, tax consultant, or other qualified title professional before you decide.

What is Close of Escrow?The close of escrow signifies legal transfer of title from the seller to the buyer. Approximately three days before the scheduled close of escrow date, the loan documents are executed by the buyer. The new lender takes 24 to 72 hours to review the final executed documents and then wires the loan funds to the title company. Escrow collects the remainder of the buyer’s down payment and closing costs. When loan funds are wired, the file is then set up to record (a legal transfer of title from the seller to the buyer). The escrow holder then handles all final accounting, issuance of official closing statements and disbursement of any remaining proceeds to all parties.

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Home Seller’s GuideesCRoW PRoCess

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Home Seller’s GuideesCRoW - Q & A

Q) How do I Open an Escrow?A) Generally the buyer’s Real Estate Agent will open the escrow. As soon as you execute the purchase agreement, the selling agent will place the buyer’s initial deposit, if any, into the escrow account or into the Real Estate Broker’s trust account.

Q) What Information will I Need to Provide?A) You will be asked to complete a Statement of Identity (SI) as part of the necessary

paperwork. Because many people have the same name, the SI is used to correctly identify the specific person in the transaction through such information as date of birth, social secu-rity number, previous addresses, etc. This information is kept confidential and is required to provide title insurance.

Q) What do I Need to do Before my Appointment to Sign Escrow Papers?A) All parties signing the documents must bring proper identification: either a valid driver’s license, identification card, or current passport. This is needed to verify your identity by the notary public. It is routine, but necessary step, for your protection.

Q) When and Where do I Sign Escrow Instructions?A) Your Escrow Officer or Real Estate Agent will contact you to make the appointment for you to sign your escrow instructions, Grant Deed and final papers. At this time, the Escrow Officer will also tell you the approximate amount of proceeds you will receive for the sale of your home.

Q) What’s the Next Step after I’ve Signed the Closing Escrow Papers?A) After both parties have signed all the necessary instructions and documents, the Escrow Officer will return the buyer’s loan documents to the lender for a final review. This review usually occurs within a few days of execution of the documents. After the review is completed the lender is ready to fund the buyer’s loan and inform the Escrow Officer.

Q) How Long is an Escrow?A) The length of an escrow is determined by the terms of the purchase agreement and can range from a few days to several months. An escrow often averages 30 to 45 days.

Q) What is an Escrow Closing?A) An Escrow closing is the culmination of the transaction. It signifies legal transfer of title from the seller to the buyer. Generally the Grant Deed and Deed of Trust are recorded within one working day of the escrow holder’s receipt of loan funds. This completes the transaction and signifies the “close of escrow”. Once all the conditions of the escrow have been satisfied, the Escrow Officer informs you or your Agent of the date escrow will close and takes care of the technical and financial details.

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Home Seller’s GuideesCRoW - Q & A Continued

Q) Do I Continue to Pay my Monthly Mortgage Payment?A) Yes, your mortgage payment(s) must be kept current throughout the course of the escrow transaction. If the payment(s) are not kept current, the lender(s) can/will assess and collect late charge(s).

Q) When are my Existing Loans Paid Off?A) Unless the buyer takes over your existing loan(s) on the property, the loan(s) will be paid off at the close of Escrow. You will need to furnish complete information to your Escrow Officer and Real Estate Agent on each loan against your property. Please be prepared to provide the name of each lender. Your Escrow Officer will need this information to order the loan payoff demands so the loan(s) may be paid off correctly at the close of Escrow. Homeowners Association information may also be required if you are selling a condominium, townhouse or property located in a planned unit development. All of this information will help to ensure the timely closing of your Escrow.

Q) What are Disclosures and Contigencies?A) During the process of selling your property, you will be asked to fill out a property disclosure form which is now required by law. In this document you will inform the buyer of any significant facts you have about the conditions of the property. If you are moving to California, other disclosures may be necessary. Your Real Estate Agent or Escrow Officer will assist you with these.

Q) When and Where do I get my Final Proceeds Check?A) The proceeds check is disbursed upon close of Escrow, when the Escrow Officer is able

to verify with the county records office that the documents have recorded and legal transfer has occurred. The proceeds check is usually delivered to your Real Estate Agent.

Q) What Happens to Funds eld in Escrow?A) In some cases the Escrow company will be instructed to hold funds in escrow to pay-off obligations which may not have been completed yet, even after the close of Escrow. An example might be to set aside funds to correct a structural problem, remodeling or termite repair work. Upon completion of the project and receipt of the proper documentation and/or releases, the Escrow Officer will disburse the reserved funds to you.

Prepare Escrow Instructions and Documentation.

Obtain Signatures

Process Financing Order Title Search

Request Information for New Loan

Application

Request Benificiary Statement

Review Transfer Terms and current Payment Obtain Loan Approval

and Determine thatterms are correct

Request Loan Documentation

Review and Receive Preliminary title Report

Request Demands and Liens. Review Tax Repor

Receive Demands and file them

Review File and Determine all Conditions have been Met and all Documents are Prepared for

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Return Loan Documents

Send Documents to Title Company

Configure File And Obtain Signatures for all Remaining Documents

Obtain Funds from Buyer

Request Loan Funds

Once Funds are Received order Recording

Close File. Prepare Statements and Disburse Funds

Complete Escrow Closing and Foward files to all Parties

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Home Seller’s Guidelife of An esCRoW

Most mortgage loans are made by savings and loan associations,mortgage companies, savings banks, commercial banks, credit unions, andinsurance companies. These organizations invest money that belongs totheir customers or policy holders, therefore they must be concerned with thesafety of their mortgage investments. This is why a policy of title insurance is required by most lenders on most mortgage loans.

The lender’s title insurance policy guarantees the lending institution thatthe person to whom it is making a mortgage loan has title to the real estatethat is pledged as security. The lender also needs assurance that it has avalid and enforceable lien, that no other claimant (other than thosespecifically noted in the policy) has a prior claim.

CalCounties TitleNation offers competitive rates on lender’s title insurancepolicies, and our escrow and title officers are well acquainted with theproduct and what lenders typically require. CalCounties TitleNation also offers your lender a high degree of safety. Be assured that, as always, CalCounties TitleNation will make it easy for you.

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Step 1: Customer Service Verifies Legal Property Description & How Title to Real Property Is HeldStep 2: Preliminary Order & Title Search Are OpenedStep 3: Preliminary Search of Real Property Is DoneStep 4: Title Search Examines Real Property Records, General Index Records & Tax RecordStep 5: Examiner Reviews Complete Search Package & Writes Preliminary ReportStep 6: Data Processor Enters the Preliminary Title Information into Computer & Prepares Preliminary Report Step 7: Messenger Service Delivers Prelims to Escrow & Lenders

Step 8: The New Documents, Demands & Statement of Information Submitted to CalCounties TitleNation.Step 9: Escrow Authorizes Recording of New Documents in the Transaction Step 10: Documents Are Recorded, Confirmation of Recording Is Received & Liens of Record Are Paid OffStep 11: Title Officer Writes Title PoliciesStep 12: Data Processor Prepares Final Title PoliciesStep 13: Title Policies Released to Client

Title Insurance - Step by Step09

Home Seller’s Guidetitle insuRAnCe - PRoCess

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Home Seller’s Guideholding title

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Tenancy in Common Joint Tenancy Community Property Community Propertywith rights of survivorship

Parties -Any number of persons.(Can be husband & wife)

Parties -Any number of persons.(Can be husband & wife)

Parties -Only husband and wife.

Parties -Only husband and wife.

Division -Ownership can be divided into any number of interests, equal or unequal.

Division -Owner interestsmust be equal.

Division -Ownership & managerial inter-ests are equal.

Division -Ownership & managerial inter-ests are equal.

Title -Each co-owner has aseparate legal title to hisor her undivided interest.

Title -There must be unity of title andtime (created in one docu-ment).

Title - Title is in the “community.” Each interest is separate but management is unified.

Title -Title is in the “community.”Each interest is separate butmanagement is unified. Title must state community property with right to survivorship.

Possession -Equal rights of possession.

Possession -Equal rights of possession.

Possession -Both co-owners have equl management and control

Possession -Both co-owners have equl management and control

Conveyance -Each co-owner’sinterest may beconveyed separatelyby its individual owner.

Conveyance - by one co-ownerwithout the others will ter-minate that individual’s joint tenancy.

Conveyance - Written consent of other spouse is required, and separate interest cannot be conveyed except upon death.

Conveyance - Written consent of other spouse is required, and separate interest cannot be conveyed except upon death.

Purchaser’s -will become a tenant-in-common with the other property co-owners.

Purchaser’s -will become a tenant-in-common with the other property co-owners.

Purchaser -can acquire title from the community with written consent or joinder of both spouses.

Purchaser -can acquire title from the community with written consent or joinder of both spouses.

Death -On co-owner’s death, his orher interest passes by willto that person’s devisees orheirs. No survivorship right.

Death -On co-owner’s death, hisor her interest ends andcannot be disposed of bywill. Survivor(s) own(s) theproperty.

Death -Upon death of one spouse, 50%belongs to surviving spouse, 50% goes by will to descendent’s devisees or by succession to surviving spouse.

Death - Upon death of one spouse, his or her interest ends and cannot be disposed of by will. Survivor owns the property 100%.

Successor -Devisees or heirs becometenant-in-common.

Successor -Last survivor ownsproperty 100%.

Successor -If passing by will, tenancy-incommon between devisees and survivor results.

Successor -Purchaser can only acquirewhole title of community;cannot acquire a part of it.

Creditor’s -Co-owner’s interest maybe sold on execution saleto satisfy his or her creditor.The creditor becomes atenant-in-common.

Creditor’s -Co-owner’s interest maybe sold on execution saleto satisfy his or her creditor.The creditor becomes atenant-in-common.

Creditor’s -Property of community is liablefor contracts of either spousewhich were made after marriageand prior to or after Jan. 1, 1975. Co-owner’s interest can-not be sold separately; whole property may be sold on execu-tion to satisfy creditor.

Creditor’s -Property of community is liablefor contracts of either spousewhich were made after marriageand prior to or after Jan. 1, 1975. Co-owner’s interest can-not be sold separately; whole property may be sold on execu-tion to satisfy creditor.

Presumption -Favored in doubtfulcases, except in husbandand wife case.

Presumption -Must be expressly stated.Not favored.

Presumption -The legal presumption isthat property which hasbeen acquired during thecourse of the marriage iscommunity property.

Presumption -After July 1, 2001, there is nopresumption. The code readsthat deeds must state“community property withthe right of survivorship.”

Home Seller’s GuidePAyment PRoCeduRe

On these pages, you will find the traditional distribution of expenses associated with a purchase of real estate. However, many of these items can be negotiated by both parties at the time of the offer, excluding some expenses required by the lender to be paid specifically by seller.

Buyer Usually pays for:1. Escrow fees2. Document preparation (if applicable)3. Notary fees4. Recording charges for all documents in buyer’s name5. Termite inspection (according to contract)6. Tax proration (from date of acquisition)7. Homeowner’s transfer fee8. All new loan charges (except those required by lender for seller to pay)9. Interest on new loan from date of funding to 30 days prior to first payment date10. Assumption/Change of Records fees for take-over of existing loan11. Beneficiary Statement fee for assumption of existing loan12. Inspection fees (roofing, property inspection, geological, etc.)13. Home Warranty (according to contract)14. Lender’s policy15. Fire insurance premium for first year

Seller Usually pays for:1. Real estate commission2. Escrow fees3. County documentary transfer tax (55 cents per $500 of consideration, exclusive of the value of any lien or encumbrances attaching to the property at time of sale)4. Applicable city transfer/conveyance tax (according to contract)5. Document preparation fee for deed6. Any loan fees required by buyer’s lender Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)7. Interest accrued to lender being paid off8. Statement fees, reconveyance fees and any prepayment penalties9. Termite inspection (according to contract)10. Termite work (according to contract)11. Home warranty12. Any judgments, tax liens, etc., against the seller13. Tax proration (for any taxes unpaid at time of transfer of title)14. Any unpaid homeowner’s dues15. Recording charges to clear all documents of record against seller16. Any bonds or assessments (according to contract)17. Any and all delinquent taxes18. Notary fees - escrow fee19. Title insurance premium: Owner’s policy

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Home Seller’s GuideselleR’s Cost sheet

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Sales Price: ................................................

Est. Balance 1st Loan: .............................

Interest: ......................................................

Prepayment Penalty: ...............................

Est. Balance 2nd Loan: ...........................

Interest: ......................................................

Prepayment Penalty: ...............................

Termite Inspection (+ repairs if any): .

Recon. Fees: ...............................................

Drawing, Recording & Notary Fees: .....

Document Preparation Fees: .................

Homeowners Assoc. Dues (if any): .......

Loan Discount Points (if any): ..............

Buyer’s Closing Cost (if any): ................

Taxes: ..........................................................

Selling Commission: ................................

Miscellaneous: ..........................................

Total Charges: ...........................................

Est. Total Net: ...........................................

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Home Seller’s Guide7 tiPs befoRe selling youR home

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Some vital steps need to be taken before selling a home. These steps save you time and money as well as eliminating the rush of doing things last minute. Here are 7 tips you can use to help you prepare before you sell your home.

1. Get Pre-Approval for a New Home Loan.Before selling you should get pre-approved for a home loan on your new home you will be moving into.

2. Contact CalCounties TitleNation Company for Comparable Sales.Getting comparable sales in your area for your home is vital to gaining the most market value out of your home when selling.

3. Estimate your Selling Costs. - Real estate commission if you use an agent to sell.- Advertising costs, such as signs and other fees if you plan to sell your home on your own. - Attorney, closing agent and other professional fees.- Excise tax for the sale.- Prorated costs for your share of annual expenses taxes, home owner association fees, and fuel tank rentals. - Any other fees typically paid by the seller in your area (surveys, inspections, etc.).

4. Estimate your New Home Costs.Estimate the costs of your new homes down payment, moving costs, association fees, utilities, taxes etc.

5. Create a Moving Plan Ahead of Time.This can save you time when arranging your items to be moved. On page 18 you will find 10 tips that can help you get ready to move to a new home.

6. Market your Home.Whether your selling as a For Sale By Owner or through a real estate agent, it is vital you market your home properly. Marketing your home can greatly boost the amount of offers on your home you will receive.

7. Touch up your Home.Fixing your faucets, cracks, paint and lighting can help boost the amount you will gain out of selling your home. The more appeal your house has to the buyer the better chances you have at selling at maximum market value.

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Home Seller’s Guide15 home listing tiPs

1. Pricing your Home-> Your agent can research comparable sales in your area and advise you of the appropriate price range for your property.

2. Flexibility on Financing-> Have your agent explain what financing options are available. Flexibility on financing terms may secure a better selling price.

3. Market Timing-> Ask a real estate professional to determine whether the market cycle is poised to net the most money.

4. Property Accessibility for Potential Buyers-> Lock boxes are a great way to make your home the most accessible to agents for showing. Appointment-only showings are the most restrictive. If your lifestyle is not compatible with frequent showings, your agent will help you determine a solution to suit your needs. Remember, the easier a home is to show, the better the odds are of getting the deal you want.

5. Latest Marketing Technology-> Make sure your agent utilizes the latest technology, such as internet sites that cater to home buyers. In some areas, cable access advertising is popular. Others use 800-number interactive voice response systems. A good agent will know where you can get the best exposure. 6. Present your Property Correctly-> Put some items in storage, create more light, play music, or otherwise improve the ambiance. Your agent can offer helpful advice to create the right first impression.

7. Seasonal Property Sale’s-> Don’t base selling decisions on the season. Property sells year-round.

8. Re-evaluate the Marketing Plan-> Re-evaluate your agent’s marketing plan every 10 days. Make needed adjustments based on the current market and buyers.

9. Analyze Low Offers-> Eighty percent of all buyer activity comes from signs and MLS listings. So if you aren’t getting any offers and are flexible with showing your home, it may be time to re-evaluate your price, not necessarily your agent.

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Home Seller’s Guide15 home listing tiPs - Continued

10. First Impressions are Golden-> Sales have gone south thanks to unkept lawns, cluttered closets, unpainted front doors, hard to work locks, blown light bulbs, bad colors, stains, unlit areas and foul smells. Spend time on the little things. Double up on your gardening. Keep things cleaner than usual. Take serious control of your pets during this time period.

11. Make the Right Kind of Repairs-> Before making improvements prior to listing, consult a real estate professional. Some upgrades will not yield any real increase in value, while others may increase property value substantially. Ask for low-cost solutions to minor repairs that will yield the best profits.

12. Give the Sales Process Enough Time-> Homes may take 3-6 months to sell in any market. Estimate how much time you have before you need to sell and then plan ahead to allow extra time. You don’t want to be forced to accept a disappointing offer. 13. Screen Prospects Adequately-> One of the best reasons for hiring a realtor is his or her ability to pre-qualify a prospect financially so that you don’t loose valuable negotiation time. Your agent may discover when a prospect has an ulterior motive for shopping homes, other than purchasing.

14. Believe that you can Make a Difference-> The top agents in the industry report that their sellers are responsible for at least one out of 10 sales. You can network your business and personal friends, hand out flyers and keep your house in move-in condition. Your realtor should be ready to hand you all sorts of assignments to make the team effort successful.

15. Test the Market-> Never put your property on the market unless you really want a sale! Get ready for a professional sales push when you list with a great agent. If your plan harbors some indecision, resolve it before you list because success is every great realtor’s objective!

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Home Seller’s GuidePResenting youR home

Enhancing how your home shows to potential buyers cannot only help to sell it more quickly but can often improve the selling price.

Stand out in your Neighborhood-> A well kept, neatly landscaped property can be very inviting to the potential buyer interested in viewing your home. Refuse containers should be out of view, and the lawn should be freshly trimmed. Fertilizing a few weeks prior to listing will help your lawn look lush and green. Woodwork should be free of chipped or cracked paint.

Fresh Look-> The front door should be clean or freshly painted. Brass knobs should be polished. Consider placing a planter of fresh flowers on your front porch.

Small Repair Details-> Repair all loose doorknobs and cupboard hinges, dripping faucets, stained sinks, loose or missing caulking, sticking doors and windows, and damaged or missing window screens.

Tidy up-> Tidiness makes a room look larger and helps the buyer visualize his/her décor in your home. Workout rooms, sewing rooms, laundry rooms, and home offices should be as organized and clutter-free as the main living space in your home.

Light up your Home-> An open, airy feeling generates comfort and welcomes the potential buyer into your home. Drapes, curtains and mini blinds should be open to allow plenty of light in your home. Turn on all the lights when showing your home at night.

Clean Closet-> Neat, well-organized closets appear larger. Larger closets help sell homes.

Squeaky Clean-> Remove stains from sinks, toilets and bathtubs, including hard water spots on shower enclosure doors. If drains run slowly, unclog them. Hang fresh towels on towel rack.

Clean Kitchen-> Make the most important room in the house appear larger by cleaning clutter from the counter tops. Avoid dirty dishes in the sink. All counter top appliances should be kept out of view. Replace or repair worn out flooring. Clean the ventilation hood over your stove. A brighter kitchen is always more attractive.

Home Seller’s GuidemAintenAnCe And RePAiR - Questions

When selling a home, whether it be new or used is a big responsibility. That’s why making sure you check for any errors and inaccuracies inside and outside of your home is very important. A make over of your home is needed in making sure you get the full market value worth of your home

New Home UpdatesWhen buying a new home many developers offer bonus or Add-On options to customize your home. Making sure you choose the option or fixture to your liking is another step into securing your investment.

Questions to ask your Real Estate Agent1. Has the home been fumigated?2. Has the plumbing and drainage system been inspected by a Plumber?3. Are the sprinklers and lights in full working condition?4. Has the carpet been updated?5. Has the paint been updated?6. Has the roof been updated for rainy weather conditions?7. Has the electrical system in the home been inspected by an Electrician?8. Is the heating and air conditioning system In full working condition?9. Are the windows in full working condition?10. Are all appliances in full working condition?

Used Home UpdatesAs provided by your Agent, the updates and improvement to your home should also be reviewed by yourself. Not looking for errors can be a huge headache in the future, as things like plumbing, Heating, Cooling and Fixtures can bring forth a costly problem if not examined properly.

Maintain your HomeMaintaining your home is a very important part in your investment. Not maintaining your lawn, drainage, heating, cooling and electrical wiring can drastically bring the overall equity of your home down when selling. These should be maintained in order to secure the equity that your property will gain in the years to come.

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Home Seller’s Guidemoving And PACking - tiPs

Moving to a new home can be time consuming and costly. Sorting your belongings and making sure you don’t lose or misplace things is important in the moving process. Here are 10 tips to go by when moving into a new home.

1. Make a List of your belongings, that way you can keep track of what is left to move.

2. Label your boxes.

3. Buy tape and packing paper.

4. Make sure you use packing paper for your fragile items.

5. Rent a truck or van for hauling items. This could save you money by

moving a huge amount of your belongings all at one time.

6. Set placement ahead of time so you have an idea where to place things accordingly.

7. Use a dolly for moving heavy items. 8. If your not using a moving company, ask family members or friends for help moving. The more help you have the faster you can move in to your new home. 9. Pack your items with other items that match, for instance: Cloths with Cloths, pictures with pictures, etc.10. Drive carefully, driving fast and taking fast turns can drop boxes and break your belongings on the way to your new home.

Home Seller’s Guidemoving CheCklist

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Create a List of everything that will be moved.

Contact several moving companies for estimatesIf your not using a moving company, contact relatives or friends.

Buy boxes, tape and labels to keep things in order.

Set a time and day and let your employer know before hand.

Before you move..

Order new checks with new address and transfer funds if using a new bank.

Discontinue utilities, and inspect your gas and electrical wiring.

Arrange your new home utilities to be turned on

Ask your doctor, dentist for referrals in your new neighborhood

Check new state or city regulations regarding ani-mal vaccinations, transfers, records etc.

Carry jewelry and important documents with yourself or in a safe deposit box.

Confirm time of arrival, insurance and charges with your moving company.

Always make sure when moving to double check everything in your home before leaving and Transfer all keys to the new owner.

Clean your refrigerator, oven, microwave and lawn mowers before packing.

Pack cloths with cloths and wrap fragile items with packing paper

Turn off any lights or sprin-klers timers off and close the gas line before moving your oven

Clean out your washer and dryer, and close the water line to your washer.

General Checklist Item Checklist

At your new home..Make placement plans for your items to save time. Unpack and make sure your utilities are scheduled to turn on in time of your arrival to your new home.

Review your list and go through your belongings.

Review your items for any missing or lost items, and contact moving company if missing items.

Move and place heavy items and assemble heavy items before unpacking.

Apply for a new state license, and register your car with the local DMV.

Confirm arrangements with your referred doctor, dentist and veterinarian.

Check your utilities and make sure they are in working order.

Greet your new neighbors and visit local services.

Register your children at a new school.

Home Seller’s GuideselleR’s glossARy

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These definitions are to acquaint the seller with the terms commonly used in real estate transactions. These terms are intended to be general and brief and are not complete and fully accurate when applied to all possible uses of the terms. Please consult your Real Estate Agent for more information regarding these terms.

Agent- One who is authorized to act for or represent another (principal), usually in business matters. Authority may be expressed or implied.

Amortization-Payment of debt in regular, periodic installments of principal and interest, as opposed to interest only payments.

Appraisal Report-A written report by an Appraiser containing his/her opinion as to value of the property and the reasoning leading to this opinion. The factual data supporting the opinion, such as comparables, appraisal formulas and qualifica-tions of the appraiser, will also be set forth.

“As-Is” Condition-Premises accepted by buyer of the condition existing at the time of sale, including all physical defects.

Asking Price-The price at which the Seller is offering the property for sale. The eventual selling price may be less after negotiation with the buyer.

Assumption of Mortgage-A Buyer’s agreement to assume the liability under an existing note that is secured by a Mortgage or Deed of Trust. The Lender must approve the Buyer in order to assume the loan.

Beneficiary’s Demand-Written instructions by a beneficiary under Deed of Trust stating and demanding the amount necessary for issuance of reconveyance, whether a full or partial amount.

Closing Statement-The Statement which lists the final financial settlement between Buyer and Seller the costs each must pay. A separate statement for Buyer and Seller are generally prepared.

Commission-An amount, usually as a percentage, paid to an Agent (Real Estate Broker) as compensation for his/her services. The amount to a Real Estate Broker is generally a percentage of the sale price.

Home Seller’s GuideselleR’s glossARy - Continued

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Earnest Money-The portion of the down payment provided by the Buyer, delivered to the Seller or Escrow Agent with a written offer as evidence of good faith.

Grant Deed-One of the many types of deeds used to transfer real property. Contains warranties against prior convey-ances or encumbrances. When title insurance is purchased, warranties in a deed are little practical signifi-cance.

Listing-An agreement between an Owner of real property and a Real Estate Agent, whereby the Agent agrees to secure a Buyer for specific property at a certain price and terms in return for a fee or commission.

Listing Agent-A Real Estate Agent obtaining a listing as opposed to the Selling Agent.

Owner Will Carry Mortgage-A term used to indicate that the Seller is willing to take back a purchase money mortgage.(Can also be called a Seller Carry Back).

Pro Rate- To divide in proportionate shares, such as taxes, insurance, rent or other items, which Buyer and Seller share at the time of closing or other agreed upon time.

Purchase Agreement-A written document whereby the Purchaser agrees to buy certain real estate and the Seller agrees to sell under stated terms and conditions. Also called Sales Contract, Earnest Money Contract or Agreement for Sale.

Realtor-A designation given to a Real Estate Broker or Sales-Associate who is a member of a board associated with the National Association of Real Estate Boards.

Reconveyance-An instrument used to transfer title from a Trustee to the equitable Owner of real estate, When title is held as collateral security for a debt. Most commonly used upon payment in full of a Trust Deed, also called Deed of Reconveyance or Release.

Selling Agent-The Real Estate Agent Obtaining the Buyer rather than listing the property. The Listing and Selling Agent may be the same person or company.

Home Seller’s Guidenotes

Home Seller’s Guidenotes

Home Seller’s Guidenotes

Home Seller’s Guidenotes

Orange County

4667 MacArthur Blvd., Suite 150Newport Beach, CA 92660

Phone: 877-727-3900

Los Angeles County

790 E. Colorado Blvd, 4th FloorPasadena, CA 91101

Phone: 888-282-5885

www.calcounties.com