When Do Buyers Get Their Keys
Whether you’re a first-time homebuyer or an experienced real estate investor, understanding when you’ll get the keys to your new home is essential. In most cases, there are a few steps that must take place before you can move in. Let’s take a look at what happens after closing on your home and when you can expect to get your keys. The Closing Process After signing all of the necessary paperwork at the closing table, there’s still some work to be done before you can get your keys. The first step is for your lender to fund the loan, which means they transfer the money needed to purchase the property from their accounts into escrow or directly to the seller. Once funding has been completed, escrow will close and all of the documents related to the transaction will be recorded with the county clerk's office—a process that could take up to three business days. Once recording is complete, title will be transferred and released from escrow, and then ownership of the property officially changes hands. Picking Up Your Keys Depending on the type of funding that your lender is using, picking up your keys might be as easy as getting the keys before you walk out of the title company. If your lender is requiring funding approval you may have to come back to pick up the keys or have them delivered to you a couple of hours after the closing. If possible, it’s always best to pick up keys in person so that any questions or concerns can be addressed right away if necessary. At closing time, being aware of when and how you will receive your keys is important knowledge for any homebuyer or real estate investor. Having a clear understanding of these steps needed before you can get your keys will ensure that everything goes smoothly during this exciting time!
Understanding the Clear to Close Process
Understanding the Clear to Close Process For home buyers, the phrase “clear to close” is one of the most exciting words you’ll hear. It means that all of your documents have been reviewed and approved, and your mortgage lender has given you the green light to move forward with closing on your new home. But what does it really mean when you hear that phrase? Let's break it down. The Clear to Close Process The clear to close process is the final step in getting a mortgage loan approved. After submitting all of your paperwork, you will receive a conditional approval from your lender. This means that they have reviewed all of your documents and determined that you are eligible for a loan based on their criteria. However, before they can give you a clear to close status, there are still some items that need to be taken care of. First, the lender will conduct an appraisal of your property in order to make sure that it meets their standards and is worth what you offered for it. Once this is done, they will look over any additional documentation such as title work or insurance policies associated with the purchase in order to ensure everything is accurate and up-to-date. Finally, they will review all of these documents one last time in order to make sure everything checks out before giving you a “clear to close” status. Benefits Of Being Clear To Close Once you have been given a clear to close status, there are several benefits that come along with it. First, you can begin scheduling your closing date as soon as possible so that everything with regard to the sale goes smoothly and without any delays or surprises. Additionally, being “clear to close” marks an important milestone in the home buying process; it means that all of your hard work has paid off and now everything is ready for you take ownership of your new home! When buying a home, understanding what "clear to close" means can be invaluable information for prospective homeowners. Knowing what this phrase indicates and how it affects the purchasing process can help ease anxiety about whether or not closing day will go off without any hiccups or complications. The clear to close process may seem daunting at first but once complete can provide much needed peace of mind about one's financial commitments going forward! To get pre approved to purchase a home start by filling out an application https://www.blink.mortgage/app/signup/p/edgehomefinancecorporation/noworytagutierrez Edge Home Finance Corporation NMlS #1950898 Company NMLS# 891464
The Benefits of a Homestead Tax Exemption
The Benefits of a Homestead Tax Exemption If you are buying a home, you may have heard of the homestead tax exemption. This is an important form of property tax relief that can help reduce your tax liability and save you money. But what exactly is a homestead tax exemption? Let’s take a closer look at this valuable benefit. What Is It? The homestead tax exemption is a property tax reduction program that helps qualified homeowners pay their property taxes. Depending on the state in which you live, the exemption can range from hundreds to thousands of dollars per year. In some states, the savings are applied directly to your property taxes; in others, it might be credited against your total taxable amount or used to reduce your assessed value. In texas a home that is homesteaded can only have the total taxable appraised value go up by 10% per year this can keep your taxes significantly lower in an appreciating real estate market. Who Qualifies? To qualify for this program, you must be a homeowner who uses the house as his or her primary residence. Your eligibility will vary by state but many states offer exemptions for disabled veterans, elderly citizens, and low-income households as well. How Do I Apply? The application process varies from state to state but typically requires filing an application with your local county assessor’s office. In Texas we can now do this anytime through the year. You will need to provide documentation proving proof of ownership and residency. Once the homestead tax exemption is applied it will stay with the proeprty until you switch it to a new property when you move. A homestead tax exemption can be an invaluable resource for homeowners looking for ways to lower their overall tax burden each year. By reducing your taxable amount or assessed value by hundreds or even thousands of dollars per year, these exemptions can help make owning a home much more affordable.
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