What to do after closing – a short list

After close receiving the keysYou’ve closed, now what?

It all started with searching the internet for that dream house, then getting prequalified and uploading bank accounts, tax returns and more. This was followed by viewing properties day after day, then submitting an offer,  probably multiple offers to get the house you want.  Not that you endured that process, you finally got the keys and it’s time to schedule the long awaited move-in.  If you’re wondering if that’s the end of the road read on.  There are a few more things to do after closing.

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Playa Del Rey Estates-Ski Lake

Gilbert Lake Community – Playa Del Rey EstatesPlaya Del Rey Kayaking

One of the three water ski lakes in Gilbert is Playa Del Rey Estates,  a short 20 minutes from Sky Harbor Airport.  Another reason to give this lake community further consideration is it offers a wide range of recreational water activities.  While other ski lake communities are specifically designed for slalom skiing, Playa Del Rey Estates allows jet skis, wake boarding, kayaks and paddle boards.  It is the shortest ski lake community in the Phoenix area.

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Townhouse vs. Condominium: What’s the Difference?

Townhouse or Condominium – Can you tell the difference?

Let’s say you’ve decided that you don’t want to worry about the landscaping for a single family home, and in addition you don’t need a mega-mansion in the suburbs so you turn your interest to a condominium or townhouse.  Now the question becomes, what is the difference between a townhouse and condominium and does it affect anything else such as financing. Or is it simply an architectural issue?  Well you may want to read on because it’s deeper than that.

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Remove PMI Early!

Removing PMIRemove Private Mortgage Insurance As Soon As Possible

Private Mortgage Insurance (PMI) is required on a conventional loan when the down payment is less than 20% It will be removed once the equity on the home reaches 22% based on the original value.  However, there are different ways to eliminate PMI sooner rather than waiting for the equity to build up based on the original price or value. Keep reading to find out ways to remove PMI without refinancing soon that you thought was possible.

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Earnest Money Deposit – Don’t Lose It!

Protect Your Earnest Money

Why is earnest money necessary for a real estate transaction?   It is a deposit given to the title or escrow company indicating that the buyers are serious and have skin in the game. It also gives assurance to the sellers since upon a breach of it  will most likely be given to the sellers as compensation for taking the house off the market. How does a buyer keep from losing the earnest money, read on.

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2021 Housing Update and Prediction

2021 Market Review and ForecastHousing Market Review and Predictions

We are now entering the post pandemic real estate market and there is a mountain of speculation what it will look like.  The word “crash” is used frequently as well as “bubble”.   As the economy returns to as normal as it can under the current economic and government policy, buyers and sellers will be anxious to see if there is any balancing in light of what appears to be a severe housing shortage. In this post we’ll review the 2021 housing update and prediction for the rest of the year.

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Appraisal Contingency Waiver-Good idea or not?

Waiving The Appraisal to Compete with Cash Offers

In this seller favored market, buyers requiring a loan are looking for ways to compete with cash offers which have two distinct advantages. One is there is no unfulfilled loan contingency and the second is there is nno appraisal contingency.  In an attempt to  remove concerns over the appraisal coming in under the purchase price, buyers are using an appraisal contingency waiver.  This means the buyer will make up any shortfall between the purchase price and the appraisal value which has some significant risks. To learn more, keep reading.

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Pre Possession Occupancy-Arizona

Pre Possession Agreement – Early Move-in

A written agreement to move into a house prior to the close of escrow can be know as a pre possession agreement, pre-closing occupancy or early move in agreement. Regardless of the name, this addendum allows the buyer to move in prior to the buyer owning the home.  This adds additional risk for the seller.  Agents have a responsibility to advise their clients to seek professional counsel prior to entering into a pre possession / pre closing occupancy agreement.  

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