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OUR SERVICES: 
The Totally Online Real Estate Company
Ferguson Realtors
brings many online services to your finger-tips. Some of our instantly available
information is outlined below.
Shirlock Homes is your online
real estate assistant. The system allows you to enter your specific housing
needs; price, bedrooms, baths, etc. The system will then automatically notify
you of new listings which matches the criteria submitted. Shirlock Homes will
continue to search for new listing each day until you request that it cease. So
whether you are on-line or off-line, you will receive electronic notice of any
new listing meeting your specific needs. There is no cost for the service and
you may withdraw at any time.
Dedicated Relocation Specialists
are assigned to each incoming
family. These are associates who maintain a high level of dedication to the
transferee. Knowledgeable of the market, lenient with their time, and committed
to representing you during your visit or in future real estate transactions.
Online Real Estate Listings
can be searched by MLS number,
address, price, location or unique short address for each property. You will
find mapping, multiple images and even panoramic virtual tours on these
listings. This is to assure the maximum benefit for both the seller and the
buyer.
Cost of Living Comparisons
are available to our online
visitors. These custom reports will compare your current neighborhood with a
neighborhood within our market. Schools, demographics, home sales can be shown
side-by-side for your comparison.
School Reports
is a nationally recognized educational
reporting system. We prepare individual reports of area school systems for our
online clients. Most reports are more than 20 pages of highly valuable
information for the relocating family.
Household Moving Programs
through five of the nation's
leading van line companies are available to our clients. This program allows you
to receive discounts of up to 46 per cent off of the published tariffs. You
receive many additional benefits and guarantees which are normally only
available to the very large corporate accounts.
Additional Value Added Services
· Private
Messaging Board
· Multi-lingual
Systems
· CD
Marketing Technologies
· Home
Buyer Calculator
· Broadcast
E-mail Systems to Buyers and Agents
· Quick-mls.com
· Multiple
Listing Services
· E-Newsletters
FINANCING:
Securing financing is the biggest headache for most homebuyers. Am I getting the
best rate? How much are my closing costs? Will I need an inspection before I can
get a loan? Where do I go? The home-buyer is like a traveler choosing from
different routes that lead to the same destination. Each may have its own
restrictions.
When I put
your property on the market, I will research the most favorable financial terms
that will assist a buyer in purchasing your home.
Mortgage Financing
Listed
below are a few frequently used programs providing a sampling of the various
mortgage loans available to a homebuyer. In today’s world, however there is a
variety of individualized loans customized to today’s buyer. Today’s mortgages
also offer flexibility in other areas, such as credit approval. Loan terms and
loan amounts. This flexibility makes it much easier for buyers to become
homeowners.
VA Financing, A good deal for veteran
The most important
consideration, is that there is no down payment is required in most cases. Loan
maximum may be up to 100 percent of the VA-established reasonable value of the
property. Due to secondary market requirements, however, loans generally may not
exceed $240,000.
Conforming Conventional Mortgages
A conventional mortgage
is one that is not insured or subsidized by the government. Lenders typically
require a down payment of at least 20% on a conventional loan, but offer
conventional loans with lower down payments if the home buyer purchases private
mortgage insurance (PMI).
Non-Conforming Mortgages
There
are non-conforming mortgage companies and finance companies, whose lending rules
are less restrictive than the conventional lenders. Where a conventional/ F.H.A/V.A.
lender will reject a mortgage application if the borrower has had a history of
late payments on a prior mortgage, the non-conventional mortgage bankers and
finance companies are more lenient and may still make the loan despite some
delinquency.
FHA
Financing
For potential
homeowners, the most common restriction is likely to be money. For would-be
buyers that are on tight budgets, FHA financing could be the route that leads to
homeownership. FHA--standing for the Federal Housing Administration (part of the
U.S. Department of Housing and Urban Development)--insures home loans made by
lenders such as banks, savings and loan associations and mortgage bankers. By
insuring home loans against loss to approved lenders, the Federal Housing
Administration has opened the door of homeownership to those that normally would
not qualify under most loan programs. FHA insured loans offer lower down
payments, higher debt ratios, co-borrowers are allowed and all the down payment
can be gifted funds.
PACKING
TIPS:
You’ve decided to move. Now, it’s time to fit just about everything you own into
boxes. With so much to do, where do you start? One room at a time. One box at a
time. Before you know it, you’ll be ready to move! Here are a few tips that may
help:
· Buy
brown paper lunch sacks. They’ll come in handy for quick-wrapping knick-knacks, glasses and other small items.
· Consider
purchasing boxes from moving companies or retailers. You can also collect your
own boxes from warehouses and stores. Consider buying a wardrobe box that’s
designed to hang clothes for easier transportation and unpacking.
· Buy
clear heavy-duty tape that’s about 2 inches wide. This is great for both
sealing boxes and attaching labels.
· Get
a large roll of plastic bubble wrap to protect breakables.
· Label
all boxes and bags. Consider pre-printing color-coded labels for each room. For
example, purple labels that read “BEDROOM,” red labels that read “KITCHEN,” etc.
Put labels in the same location on each side of the box; for example, in the
upper right corner and in the center of the top. Securely attach a list of
what’s inside. Or, number each box and keep an inventory.
CLOSING
CHECKLIST:
►
Pull these items prior to packing to leave on the countertop in the home
packet, Garage Door opener, manuals for heat / air units, appliances, septic
tank information if applicable, information on security system, copy of
restrictions for subdivision, etc.
►
Bring the keys to closing (including any special keys to mail box, etc.)
►
Check to make sure the termite letter is at the settlement company.
►
Call insurance company to cancel coverage on your present home and secure
coverage on your new home.
►
Call your real estate agent the day of closing to check on any updates.
►
The settlement company will need your social security number in order to secure
a payoff from your lender on the existing mortgage, and the account number of
your present mortgage and telephone number of the lender.
►
In most cases, the escrow account for your present loan is generally not
calculated in the payoff amount and a separate check is mailed to you within a
couple of weeks by your lender.
►
Remember to bring a valid “photo” ID to the closing.
►
Remember to feel free to ask questions at any time.
MOVING
CHECKLIST:
► Contact insurance companies and update records and policies.
► Donate anything you don’t need to charity. Throw out damaged or useless
items. If there are things you’d like to sell. Place ads in the local paper or
plan a yard sale.
► Set up a file for receipts of moving expenses that may be tax
deductible.
► Begin packing any rarely used or out-of-season items.
► Investigate moving companies. Request written estimates, including time
and payment information. Compare pricing and other information. Provide
departure and arrival dates.
► Contact doctors, dentists, attorneys, veterinarians, hair stylists and
other professionals to update their files. If you’re moving to a new city, ask
them to refer you to qualified professionals in the new location.
► Transfer school records.
► Make appointments with real estate professionals, landlords, inspectors,
cleaning crews or others involved in helping you get settled in your new home.
► Begin using up food in freezer and refrigerator.
► Schedule stop and start dates with current and new gas, electric, water,
phone, cable and other services.Ask about deposit refunds.
► Notify the Postal Service of your new address. Ask for “Change of
Address” forms, and send them to friends, family, businesses, magazines and
other publications.
► When you pay bills, look for the “address change notification” section
and give them your new address and the date it’s effective.
► Call 1-800-829-1040 to notify the IRS of your new address. If you
receive Social Security benefits, call 1-800-772-1213 to report the change.
► Cancel newspaper and other delivery services and trash pick-up. Schedule
start dates for services in your new location.
► If you’re moving yourself, or driving your own vehicle, take it into
your auto repair center for a maintenance check.
► Drain gasoline and oil from lawn equipment and other tools. Drain other
equipment or appliances, such as kerosene heaters, if applicable.
► Empty and defrost refrigerator and freezer.
► Confirm start dates with your new utilities and delivery services.
► Transfer or close savings accounts, and empty safe deposit box.
► Designate a room or corner where you’ll store anything you don’t want
the movers to take. Post a large sign indicating this.
► Pack a survival kit for your first days in your new home. For example, a
“kitchen” box with a can opener, convenience food, disposable utensils and other
basics; a box with cleaning supplies; another with blankets and bedding; another
with basic bathroom supplies; and a box with a hammer, nails, tape measure,
scissors and other important tools. Be sure to include a first aid kit.
► Pack suitcases with everything you’ll need for a week. Include personal
medications, eyeglasses, etc. Include emergency phone numbers and other
important information you may need to access quickly.
► Clean your new home if you have access to it.
► On Moving Day, plan to have someone baby-sit young children and take
care of pets.
► If you’re having a moving company handle your move, plan to be around to
oversee the move, but give them room to work.
► Plan to move antiques, jewelry and other valuables yourself.
► Do a last-minute check of the entire home before closing your door for
the last time..
TERMINOLOGY:
ADJUSTMENTS:
Money that both
buyer and seller credit to each other at closing, including taxes and down
payment.
APPRAISAL:
Unbiased,
professional opinion of a property's value based on its style and appearance,
construction quality, usefulness, and the value of comparable properties.
APPRAISAL REPORT:
A written report by an
appraiser containing their opinion as to value of a property and the reasoning
leading to their opinion. The factual data supporting the opinion, such as
compatibles, appraisal formulas, and qualifications of the appraiser, will also
be set forth.
ASKING PRICE (Listing Price):
Price at which the owner
wishes to sell a property.
BONA FIDE PURCHASER:
A purchaser in good faith, for
valuable consideration, without notice or knowledge of adverse claims of others.
BUYDOWN:
An interest
subsidy, paid at closing which either temporarily lowers monthly payments for
the first few years of the loan, or permanently lowers the payment for the
entire term.
BUYERS MARKET:
A market condition favoring the buyer. In real estate , when more
homes are for sale than there are interested buyers.
CLOSING COSTS:
These are costs related to the loan, paid in addition to the down
payment on the closing day. May include Abstract of Title Search, Title
Examination, Document Preparation, Notary Fee, Attorney's Fee, Title Insurance.
COUNTER OFFER:
An offer (instead of acceptance) in response to an offer.
DEED:
Actually, any one of many conveyancing or financing instruments,
but generally a conveyancing instrument, giving to pass fee title to property
upon sale.
DEPOSIT or EARNEST MONEY:
Money given by the buyer with
an offer to purchase. Shows good faith. Also called earned money.
DISCOUNT POINTS:
A one time charge paid at
closing used to adjust the yield on the loan to what market conditions demand.
EQUAL CREDIT OPPORTUNITY ACT:
Federal law granting women
certain independent status, and preventing lenders from considering such
negative credit aspects as the possibility of a woman having children and
dropping out of the labor market.
FAIR CREDIT REPORTING ACT:
A federal law
giving a person the right to see his or her credit report so that errors may be
corrected.
MARKET VALUE:
The highest price a willing buyer would pay and a willing seller
will sell.
MORTGAGE:
The instrument
by which real estate is hypothecated as security for repayment of a loan. An
instrument that pledges real estate as collateral for a loan.
MULTIPLE LISTING SERVICE:
A networking computer system
in which real estate firms share information about their clients' homes that are
for sale.
OFFER TO PURCHASE, PURCHASE OFFER, EARNEST MONEY AGREEMENT
PURCHASE AGREEMENT, DEPOSIT RECEIPT:
A document that lists the
price, conditions, and terms under which the buyer is willing to purchase a
property.
PRE-APPROVED:
A formal determination by a mortgage company of how large a
mortgage a buyer can afford.
PRE-QUALIFY:
Informal determination by a mortgage company of how large a
mortgage a buyer can afford.
SALES PRICE MAXIMUM:
Maximum sales price for the
different type of mortgages.
SELLER CONTRIBUTIONS:
The allowable amount a sell
can contribute toward a buyers closing costs prepaid discount points. All
mortgages have limits.
SETTLEMENT OR CLOSING:
The meeting between seller and
buyer when the property legally changes hands.
TITLE:
A recognized right of property ownership. Title is evidence by a
written deed. A loan will not close until the title company has assured the
lender there are no hidden problems with a title to a piece of property. Title
companies trace all claims, lawsuits, easements and liens which may encumber or
cloud the title to a property.
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