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A Title Company That Comes to You
At Title Junction, we understand that sometimes it can be difficult for our clients to come to our offices. So because our clients are our number one concern, we offer witness and courtesy closing services and come to you! If you are in the Cape Coral or Fort Myers area, a real estate title professional from our office will be happy to come to your work, home, realtor’s office or even mortgage broker’s office. The process of our closings can be as simple as ‘just show up and sign.’
“But what if I live outside of the Cape Coral or Fort Myers area?”
No need to worry! We are also available by phone to assist in making the process of your closing go as smoothly as possible. From picking up the transaction papers to sending the papers to you, we perform all of the necessary leg work, and lenders from across the country have called on us to help their clients. We perform witness closings for clients buying real property in the state of Florida, and we assist Floridians with their real estate deal closings in other states. Even when we are not your closing agent, we can do witness closings for you. At Title Junction, we work to create the real estate / closing relationship that all our clients deserve.
Are you on vacation and waiting to return to close on a property? Wait no longer, let us help you at a time that is convenient for you!
We want our clients to have the most stress-free closing possible and enjoy the exciting experience of purchasing their new home!
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What Does My Loan Estimate Tell Me?
What Does My Loan Estimate Tell Me?
There’s no getting around it; taking out a loan for a house involves a lot of paperwork. Some of it you have to fill out yourself, while other documents contain vital information that you need to understand to get your loan squared away. One such document is the loan estimate, which is a form you receive from your lender that details the essential facts and terms of your approved real estate loan. It includes:
- Loan terms
- Projected payments and loan costs
- Cash and costs at closing time
- Services for which you CAN and CANNOT shop in relation to the loan
- Summary information that can be used to compare this loan to others
Also included are other important details such as appraisal, insurance, late payment, refinancing, loan assumption policy and whether your lender intends to service the loan.
The loan estimate is a dynamic form—meaning that it can be edited and updated—and it will include information that is related to your loan and may leave out information that is not. Because of this, forms from different lenders or for different loans may not look identical, so make sure to read yours carefully.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: 8 Ways to Prepare Your Home for Hurricane Season
8 Ways to Prepare Your Home for Hurricane Season
As of June 1st, hurricane season has officially begun in Florida and along the eastern seaboard. While these wild forces of nature are massively destructive and potentially deadly, there is one good thing to be said about them: you usually have a few days warning before they hit. During this time—and hopefully well before—preparations can be made to protect yourself and your home. So whether you decide to vamoose to areas calling for less wind and flooding or hunker down and weather the storm with the help of your carefully-crafted emergency kit, here are 8 ways to prepare your home for hurricane season.
1) Double Check Your Homeowner’s Insurance
Check with your insurance agency to make sure you have the coverage you need should the hurricane cause damage to your home. Flood damage is often the most tricky kind to receive compensation for, so make sure you fully understand your policy and fill in any gaps in your coverage.
2) Inspect Your Roof
We’ve all seen the aftermath of hurricanes where neighborhoods are dotted with roofs covered in bright blue tarps for months on end. To better your chances of avoiding this fate, inspect your roof for loose shingles/tiles or any other kind of damage, and make the appropriate fixes well before any hurricanes can form. For extra protection, you can purchase hurricane straps for your roof.
3) Trim Your Trees
Loose branches can quickly become projectiles when the winds pick up, so do yourself a favor and disarm your trees before they become the reason you need to make an insurance claim. Heavy boughs that hang over your roof should also be trimmed back so they don’t come crashing through at an inopportune time.
4) Clean Out Your Gutters
This may sound like nothing more than a menial weekend chore, but when the rain comes pouring down in tandem with howling winds, you’ll want your gutters to be clear of debris so they can do their job of diverting water away from your home and keeping it from splashing up under your roof covering.
5) Install Storm Shutters / Board Up Your Windows
Once you know for sure that a hurricane is coming to your area, it’s time to “batten down the hatches” and make sure your windows are secure. Installing storm shutters is ideal, but if they’re a bit out of your price range then boarding your windows with thick plywood is a sound backup plan. It’s a good idea to purchase plywood and cut it to size well before anything can brew in the ocean—that way you’ll only need to screw them in place once you know a hurricane is impending.
6) Brace Your Garage Door
If you have a garage, it can actually serve as the achilles heel to your otherwise well-fortified fortress. You can purchase a kit for bracing your garage door from the inside or even find DIY instructions if you are so inclined.
7) Secure Your Outdoor Items
Any loose items you have outside, like your grill, lawn chairs, trash cans, etc. can be blown away and potentially become airborne projectiles that will do damage to your house or your neighbor’s. Bring these items inside or strap them down securely to keep them from flying.
8) Use Sandbags for Flooding
While sandbags don’t offer a complete seal against water, they can be used to divert the flow away from your home. If you don’t have access to enough sandbags to encircle your entire house, focus on the doorways. Laying a plastic sheet between a doorway and the sandbags offers a better buffer between the water outside and the inside of your home.
Take advantage of the fact that hurricanes give you time to make preparations and a plan. And above all, be safe! Do whatever you think will best protect your family, and don’t forget the furry members of your household!
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: The Value of the Notary Public to a Title Company
The Value of the Notary Public to a Title Company
In order for a property to close successfully, a number of things must happen. First, the buyer and seller must come to an agreement on price and financing must be secured. After that, the title company gets involved and starts the behind-the-scenes work to have the property ownership transferred from the seller to buyer, which includes having a notary public to act as a witness.
Title Company Capabilities
The title company plays a critical role in the transaction: it is the responsibility of the title company to ensure the closing happens. Title companies handle all aspects of real estate closings. At Title Junction, for example, our full-service title insurance agency can serve as an escrow agent, witness courtesy closings and provide notary services in addition to providing real estate title insurance. Title companies research the title to ensure there are no liens against the property or other holds on the title. We also order the survey and prepare the deed for ownership transfer.
The title company coordinates closing instructions between the buyer and seller’s representatives, and the lender. A title insurance agency does not work on behalf of any one party over the other. Rather, the company’s role is to remain completely neutral in the transaction. We are only interested in making everything occur that is needed for the closing to happen.
The Role of the Notary
Title companies also often provide notary services. This is due to the sheer number of mortgage and closing documents that require a notary signature or seal in every transaction. It is not unusual for a notary at a title company to be referred to as a notary-signing agent. This simply means that the notary has had specialized training and experience in signing and acting as a witness to escrow and mortgage documents. In fact, you should feel good about having a notary-signing agent working at your closing because it means they have extensive experience handling real estate property ownership transfers.
Our notary’s role as an impartial witness to the signing plays an important role at closing too. One of the core services provided by a notary is his or her ability to prevent fraud. A notary does this by verifying that the signers are who they say they are, understand what they are signing and are doing so of their own free will.
It is for these reasons that Title Junction employs notaries in our office in Fort Myers. Notary publics on staff means our company can provide a convenient service for customers and facilitate a great number of closings at our office.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What Responsibilities Do I Have During the Lending Process?
What Responsibilities Do I Have During the Lending Process?
There are many steps to applying for a loan, and quite a few of them serve the purpose of ensuring that you won’t fall victim to loan fraud or be disqualified due to inaccuracies. Here we provide a helpful list of dos and don’ts during the lending process—be sure to follow all of these steps as you apply for a loan:
The Dos
- Be sure to read and understand everything before you sign.
- Refuse to sign any blank documents.
- Accurately report your debts.
- Tell the whole truth about gifts.
- Be truthful about your credit problems, past and present.
- Be honest about your intention to occupy the house.
The Don’ts
- Don’t buy property for someone else.
- Don’t overstate your income.
- Don’t overstate how long you have been employed.
- Don’t overstate your assets.
- Don’t change your income tax returns for any reason.
- Don’t list fake co-borrowers on your loan application.
- Don’t provide false supporting documents.
By following these steps, the likelihood of your loan process going smoothly and safely increases dramatically.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Avoid These 7 Expensive Mistakes When Buying or Selling A Home
Avoid These 7 Expensive Mistakes When Buying or Selling A Home
When it comes to buying or selling a home, what you don’t know can cost you. Literally. Whether it’s not doing your research or getting too emotionally involved, making the wrong choices can cost you thousands of dollars. Here are 7 expensive mistakes that could cost you the big bucks.
Selling Mistakes
Setting the price too high: What your home is worth to you and what it’s worth on the current market can be very different. Take a good look at what is or has sold in your area and make sure you’re being realistic about your home’s value.
Hanging out during an open house: Prospective buyers do not want the current homeowner hovering over them as they tour the house — it’s a lot of added pressure and can prevent them from giving the honest feedback that could ultimately help you sell your home. Go out and let your real estate agent handle it.
Not keeping resale in mind when renovating: The changes that make your house work better for you may not work better for potential buyers. Not everyone loves that bright pink paint color — no matter how much you adore it. Make sure any big changes you make will increase, rather than decrease, your home’s value.
Buying Mistakes
Not researching the neighborhood: Is this a place you really want to live? What amenities are nearby? How is the school district? What does the traffic and street activity look like when you drive by the neighborhood at different times of day, like Monday evening rush hour and Sunday morning? Although these may not seem like questions you really need to think about – you’ll kick yourself later for not giving them any thought!
Buying (or not buying) based on the decor: Paint colors can be changed. Tiles and cabinets can be replaced. What you want to look at are the bones of the house. Will it meet your needs? Does it flow well? Does it have enough space? Know what your criteria are and stick to them.
Not getting an inspection: This is one of the biggest investments you’ll ever make, and you’ll be living with it for years to come. Don’t pinch pennies — shell out the money for an inspection. Make sure you know exactly what you’re signing up for. Inspections are the tell-all if this is the choice to make or not.
Being unrealistic about your DIY abilities: Will you really want to tear down that wall to make a master suite or gut the entire kitchen to make it work for you? Don’t let too much HGTV and delusions of reality TV get you to buy into an ongoing project you’ll regret taking on.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Comparing Home Loans Between Different Lenders
Comparing Home Loans Between Different Lenders
Shopping for a home loan can seem overwhelming, but by properly organizing the information you gather during your research, you can make the task of comparing home loans from different lenders easier to tackle.
First, devise a checklist for the information from each lending institution. You should include:
- The company’s name and basic information
- The type of mortgage
- Minimum down payment required
- Interest rate and points
- Closing costs
- Loan processing time
- Whether prepayment is allowed
Now it’s time to shop. Speak with companies by phone or in person to gather the details needed to fill out your list. Be sure to call every lender on the list on the same day as interest rates can fluctuate daily.
In addition to doing your own research, your real estate agent may have access to a database of lender and mortgage options or suggest a variety of different lender options, so it never hurts to ask for recommendations.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: 3 Perks of Homeownership
3 Perks of Homeownership
Homeownership is often seen as part of the “American Dream,” and rightly so. Owning a home has many advantages compared to renting and paying someone else to live somewhere. Here are just a few of the perks that come with owning your own home:
The Entertainment Factor – Whenever you rent from someone or live in an apartment complex, there are always rules you have to follow or you’ll be thrown out. Like you can only use the pool during certain hours, or you have to reserve the right to use the grill and picnic area. But if you have your own home, you can jump in your pool anytime you wish (provided you have one), and if you have a grill you don’t have to reserve it or share it with anyone else.
Building Equity for Yourself – When you rent, you are paying someone else and helping them build equity on their property. However, if you own the home and make your mortgage payments, or when home values go up in your neighborhood, your equity goes up. Having equity in your home can be very beneficial and can be used to fund other things.
Tax Benefits – There are numerous tax advantages to owning your home. For example, you can deduct any interest you paid toward your mortgage for the year as well as property taxes. You can even get tax deductions for making improvements around your home, like making it more energy efficient. There are so many things you deduct on your taxes from owning your home that you’ll want to ask a tax professional to make sure you are deducting everything you can.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: Loan Disclosure: What Do Lenders Have to Tell You?
Loan Disclosure: What Do Lenders Have to Tell You?
Federal loan disclosure forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. Lenders have to provide you with two disclosure forms for the most common kinds of real estate loans.
First, there’s the loan estimate, which covers key features such as the estimated estimated interest rate, monthly payment, and risks of a mortgage loan. It also gives info about the estimated costs of insurance and taxes. For an approved loan, this three-page form form must be returned to you within three business days of loan application.
If the loan goes forward, the closing disclosure form—which covers key transaction costs—must be delivered at least three business days before loan consummation. This five-page form covers key transactions costs, such as projected monthly payments and closing costs, along with the loan terms. The three day window gives you time to compare the costs listed in the closing disclosure to those presented in the loan estimate.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: 4 Important Tips to Assist Buyers in Multiple Offer Situations
4 Important Tips to Assist Buyers in Multiple Offer Situations
Low interest rates coupled with lower-than-usual home inventory has created a market where newly listed homes are selling like hotcakes. Consequently, these newly listed homes often receive multiple purchase offers, which is excellent news for sellers. But for buyers, having multiple offers is not excellent news. If you’re getting involved in a situation where your offer may be one of many, it’s vital to have a great real estate agent representing you who has experience with multiple offer situations. Here we share four important tips to assist buyers in multiple offer situations.
1. Make a Strong Offer
In a multiple offer situation, don’t low ball! Yes, it’s frustrating to lose out on a home, but expecting a low ball offer to be accepted is just wishful thinking. If you’re in love with a home and there are multiple offers, you need to know that you’ll only have one chance at scoring the house.
If you require seller contributions, you need to be aware that it’s a “give-and-take” situation. If you need $5,000 in seller contributions, don’t expect to offer $5,000 below the listing price and also get the contribution from the seller, especially in a multiple offer situation! If you absolutely need seller contributions, consider offering above the asking price, keeping in mind the home needs to appraise for the purchase price.
2. Have Fewer Contingencies
You have the option to make a purchase offer contingent on several different items, and some are more common than others. In a multiple offer situation, not having as many contingencies can make one offer more desirable to sellers than the next. While it’s not recommended to waive the opportunity to perform a home inspection, some sellers will just eat that up. The purpose of a home inspection is to ensure the home’s current state for the buyer. By waiving a home inspection, the seller is now “off the hook” for any repairs that would be requested after an inspection of the home. This doesn’t mean you shouldn’t have a home inspection completed—you just don’t have to leave the seller on the hook for repairs.
3. Get Pre-Approved, Not Pre-Qualified
There is a major difference between being pre-approved and pre-qualified! Understanding the difference is extremely important.
A pre-qualification is when a lender looks at your financial picture based on what you tell them. In most cases they will look at your credit information to make sure your credit scores are in line with the current mortgage guidelines. The lender will then issue a“Pre-Qualification” letter, subject to verification of information once you apply for a mortgage.
A pre-approval is a little more involved but is much more desirable when it comes time to negotiate on a home. Getting a pre-approval includes a lender pulling your credit report, collecting pay stubs, bank statements, W-2′s, etc. and actually confirming your employment status. Most pre-approvals are as good as a mortgage commitment, and are generally only subject to an appraisal being done on the property.
4. Make a Large Down Payment/Escrow Deposit
Putting a large percentage down towards a home can give you a distinct advantage. Although the amount of the deposit can vary, a larger deposit can indicate your serious intent to purchase the home to a seller and can also indicate your strength.
At Title Junction we care about helping you stay informed throughout your real estate transaction. Have questions? Give us a call at 239.415.6574.
In case you missed it, check out our last Title Junction post: What’s a Credit Score?