Leading Real Estate Companies of the World® is a network of 565 of the very best real estate firms that are located in 65 countries. These firms have 4,100 offices with 130,000 sales associates. In 2016 these firms had sales valued at over $368 billion dollars, representing 1.1 million transactions, which placed Leading Real Estate Companies of the World® #1 in sales volume in the United States.
Leading Real Estate Companies of the World® outperformed all other national brands by 62 billion in sales.
When buying or selling property, select a member firm such as Ferguson Realtors to assist you.
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These tips came from a survey of 400 real estate professionals. These items are listed in order of importance, from most to least.
- Get a home inspection to evaluate the safety and overall condition of the home
- Before you start your house hunting, get pre-approved for a mortgage
- Direct all communications with the seller through your real estate agent
- Get all agreements with the seller in writing
- Include important contingences in your offer, such as, financing and inspections
- Come up with realistic expections for a house based upon your budget
Source: Market Leader.com
Loan terms, rates, and products can vary significantly from one company to the next. When shopping around, these are a few things you should ask about.
What are the most popular mortgages you offer? Why are they so popular?
Are your rates, terms, fees, and closing costs negotiable?
Do you offer discounts for inspections, home ownership classes, or automatic payment set-up?
Will I have to buy private mortgage insurance? If so, how much will it cost, and how long will it be required?
What escrow requirements do you have?
What kind of bill-pay options do you offer?
What would be included in my mortgage payment (homeowners insurance, property taxes, etc.)?
Which type of mortgage plan would you recommend for my situation?
Who will service this loan—your bank or another company?
How long will the rate on this loan be in a lock-in period? Will I be able to obtain a lower rate if the market rate drops during this period?
How long will the loan approval process take?
How long will it take to close the loan?
Are there any charges or penalties for prepaying this loan?
How much will I be paying total over the life of this loan?
Source: National Association of REALTORS®
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Better yet; give us a call at (865) 690-1300 to schedule your confidential interview.
Title insurance protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as misspellings of a person’s name or an inaccurate description of the property. In some states it is customary for the seller to purchase the policy on your behalf.
Your mortgage lender will require it.
Title insurance protects the lender (and the secondary markets to which they sell loans) from defects in the title to your home—which could include mistakes made in the local property office, forged documents, and claims from unknown parties. It ensures the validity and enforceability of the mortgage document. The amount of the policy is equal to the amount of your mortgage at its inception. The fee is typically a one-time payment rolled into closing costs.
There are two different policies to consider purchasing.
The first policy, the one your lender will require, protects the lenders investment. You may also purchase an owner’s policy that provides coverage up to the purchase price of the home you are buying.
You have the right to choose your provider.
You can shop around for a lower insurance premium rate at a wide variety of sites online. You should first request quotes from a few companies and then reach out and speak to them. Ask about hidden fees and charges that could make one quote seem more attractive than another. Also, find out if you’re eligible for any discounts. Discounts are sometimes available if the home has been bought within only a few years since the last purchase as not as much work is required to check the title. You can also ask your lender or real estate professional for advice or help with getting quotes. Make sure the title insurance company you choose has a favorable Financial Stability Rating with Demotech Inc.
Even new construction needs coverage.
Even if your home is brand-new, the land isn’t. There may be claims to the land or liens that were placed during construction that could negatively impact your title.
Source: National Association of REALTORS®