Abstract: Li Housing settlement procedures, full payment.

Procedure takes less than one hour

settlement procedures (Closing) end, lawyers immediately in local
Register your lease county / county deed registries. At this point you will officially become the owner
of the house here! Day can receive key
Spoon.
(A US cash to buy a house processes: Second, the US home loans flow)
Perhaps you yearn Biying natural, flowers full House of pleasant feelings, so we decided to purchase in
a quiet suburb of the town around a courtyard with a small independent
House; perhaps you are seeking quick and easy, Thatcher of city life, and therefore decided to purchase
a set in the city center do not spend too much time playing
Li, stylish apartments. Then hire a broker you can trust to help you make the most satisfied buyers
choice.
To reflect the sincerity of both sides, with your broker to sign a peace treaty will be your best choice.
So it can protect the interests of both sides, and you
The economy also will try our best to serve you, to make reasonable arrangements according to the two
sides time to your needs as a basis for making humanity
Of market analysis and work with you to explore the detailed and professional findings. Let your
expectations be implemented, to make your life can be sublimated.
In addition, the buyer usually without charge, because it has been explicitly listed in the seller's listing
contract commissions paid to brokers to buy a house. Therefore, make
The buyer no need to worry about the extra cost, to live and work with you only one step away.
The purchase process in the end what is it? Here are a list of your cash to buy a house and home loans
of specific processes. Housing transaction process vary
Same as short as 15 days to complete delivery procedures, or as long as 90 days or more to complete.
And wherein the desired time phase cash transactions
Shortest. It does not work in the United States, as well as the cumulative tax credit records, get loans or
low-interest loans will be a greater chance of impact. Have
Off information in another paper.
First, the United States buy cash flow:
Use cash to buy a house takes about two weeks to a month's time. If no bank account in the United
States, you can cash before delivery hit

Notary escrow account store (Escrow Account)

The first day, under the initial contract. This is a unilateral contract, including the asking price and
other additional conditions, Rate 3 percent pay checks for deposit.
The next day, the seller accepted bids (back and forth several times after bargaining may be accepted).
On the third day, into the notarization process. Signed a formal contract for the sale (or notarized
contract), pay Rate 3% deposit (which is also the buyer liquidated damages).
(Notary fee is to pay all the costs of the sale of each buyer Cost: $ 1500 $ 2000)
Fourth day of the ninth day, hire a professional house inspector to check the house. (Cost: $ 300 to $
500)
Ninth day, house inspection is completed. If the result of a problem, you can then consult the sale price,
or terminate the contract.
For loans, at the same time, prepare loan documents, sent to the bank. *
The tenth day, under orders property brokerage survey, buy title insurance. (Under normal
circumstances, the seller is responsible for costs) (which can be done in advance and save
Time).
If the loan, the buyer to purchase title insurance to bank loans. (Cost: $ 500 $ 1000)
Sixteenth day of the thirteenth day, bank loans initially agreed to give "conditional loans through faith."
Housing loans to banks worth valuation, generally 37 days after completion. (Cost: $ 500 $ 800)
Twenty-five days to sign the final loan documents.
Twenty-seven days
If the cash transaction, the full amount must be deposited notary.
If you need a loan, the loan down, the bank will store it notarized.
Twenty-nine days, finally home inspection.
The thirtieth day, apply for housing settlement procedures, full payment. Out Time Less than one hour
Settlement procedures (Closing) end, lawyers will immediately register the lease in your local county /
county deed registries. At this point you will officially become here
The owner of the house!
The same day to receive the key.

If the individual expedited procedures, can complete all housing delivery program in two to three
weeks.
* The costs of bank loans based on the loan amount may be
Second, the US home loans process:
1. Select of room (House Type) for the same price, in some places you can buy a detached house
(Single Family House), in some places
You may only buy Townhouse (Tome House) or apartment (Condo). In order to sell the house in the
future, I recommend buying two-bedroom apartments, three-bedroom buy
Townhouse, four bedroom detached house to buy. From an investment point of view, most hedge
detached, followed Townhouse, last apartment. New house liter
Value faster than the old house. From the perspective of living to see, afraid to listen to the noise of a
neighbor to buy the best-detached. I do not want to clean up the yard mowing and even the best buy
Building the house. I can not afford Townhouse's had to buy apartments.
Strictly speaking the apartment is not the chamber, but a form of organization. Buy detached and
Townhouse, you are not even buy (Fee house together with land
Simple). When buying the apartment, you only buy a unit that you live in, the roof and the ground is
not yours. Because large apartment pool area, repair pipe
Processing cost is high, so the apartment fee (Condo Fee) is much more expensive than community
management fee alone HOS (Home Owner Association Fee), a
Like the $ 200 to $ 400 per month, some as high as $ 900. Some apartment rates include utilities, if
they live in is also cost-effective. But if it is a
Rent, if empty, but also the apartment or pay fees, it does not pay out. There Townhouse type
apartments on the market, be careful not to mistake.
II. Election agent
You must find a broker to buy a house. First, brokers experienced than you. If you are the first time to
buy a house, there must be countless problems, brokers will be resistance
Heart for you to answer these questions. The second broker than you informed information. She can be
set to automatically search for you according to your requirements, will break every day
Closing price of the house or the new listing requirements you automatically be sent to your e-mail.
Third broker than you understand the market. She knows what the house
What place should sell much money, so you can argue for the bargain. Fourth broker can do for you

checks. She will tell you when you buy a new house
What things are essential, and what can be coupled with the later. She will tell you what to pay
attention to the old house to buy things. At last,
Buyer's broker service is free. Practice is to pay the seller the buyer and seller broker's commission.
Plus many brokers will give buyers some excess
User fees, why not?
Some people fear trouble to others, I am sorry to see the old and let people take their own house. Often
a time to go is most of the day, not to mention now
Gasoline and expensive. But if you really want to buy a house, buy you a house after a broker, you can
get a commission from the seller there, the
In you need not polite. But in order to make sure that your broker a commission from the seller to get
there, it is best to check with your broker an exclusive buyer
Broker Contract (Exclusive Buyer Agency Agreement), so you can let your broker peace of mind for
your service
A. If you are afraid that too limiting exclusive buyer broker contract, you can indicate this contract is
limited to the broker take you to see the house, and even
To only certain house. The contract has a time limit, if not assured, month contracts can be signed.
After a month of trial, for
Broker service satisfaction, can you sign a contract for three months or six months.
With the popularization of network, people master a variety of ways to continue to broaden the housing
information, particularly in the greater Washington area, whether it is government
Departments, army or local business, coming in are high-quality, high-tech talent, to collect all kinds of
information is timely and accurate. So some
People think that without a broker to find their own homes, their own negotiations with the seller, and
the seller can require the buyer broker who spent the commission
Gold, returned in the price, buyers can get cheaper prices, in actual transactions really so?
Buyer broker how to protect your interests?
If you are looking for an experienced broker on your behalf, and you and your broker also signed the
contract, when you find one of your favorite room
Son, your broker will help you prepare for the contract, and most of these contracts is to protect the
consumer as a precondition, the contract will have a lot of terms

Give you a period of time, allowing you to test the house for the community to investigate the
surrounding environment, the school district, the development potential of the entire
Mathematical analysis, but during this time that you can be a legitimate reason to opt out, or continue
the contract, do not take any risks, but when you
Inspection found a problem in the room or other inspection drained away and do not want this contract,
your broker will bargain with the seller on your behalf, you fight
Take maximum benefit.
Seller from the sale of Housing (For Sale by Owner)
If it is the seller selling yourself, you are likely to discuss with the seller to reduce the price, they do not
look for a broker, the part of the commission agent (because no
There are brokers, vendors also need to take risks, to increase the workload of the transaction process)
returned in the price, but you also lose the protection. Close
Once signed into the same, you can not quit, can not bargain.
Broker and sell the house
Recently, because of the real estate market downturn, most homeowners will hire a broker to help sell.
Before the house must be listed on the vendor and broker
First signed a contract (Listing Agreement). In this standard contracts authorized seller also agreed to
sell to the broker in the house
How much to pay a commission to the buyer and the seller's agent. If then you rush into, some subcommission requires the seller to you, the possibility is not big. Province
Down broker commission went into the pockets of the seller. Maryland law the seller can only
represent the interests of the seller's broker, not a through
Broker between buyers and sellers while doing Agents (in Victoria with a broker may represent both
buyers and sellers, but be sure to double before the broker to trade
The two sides declared their party agents). When you are not the buyer of the broker, the seller's agent
can help you do a lot of things to accomplish this
Transaction. He can help you write a contract, can help you find someone to do the room inspection,
termite inspection everything. But when your interests and the interests of the seller are
Conflict, he must safeguard the interests of the seller.
New home sale
Another misunderstanding is that many of my friends think if you buy a new house in the hands of

providers do not need a broker building, because builders have their own dedicated
Sales staff, the majority of these well-trained sales staff, affable, responsive before you sign a contract,
giving you the feeling as if he would
It is your agent, and some sales staff also tells you if you do not buy broker, they will give you the price
and the transaction fees on some good
Office, or give you a free finished basement, etc. Please do not be confused by these phenomena,
fleece, once you've signed the contract they will press
According to their promise to do good, but they only give you part of your deserve, but not all, and
your broker to understand the market knows row
Love, will help you to secure better prices, will be added in the contract to protect your terms, in the
house during the construction period if there are any unexpected things
Happen, it allows you to safely withdraw from the contract.
III. Loans pretrial
According to the National Association of Realtors in 1999 statistics, 90% of people are home loans. If
you are using cash to buy a house 10% of the lucky ones, do not
Need a loan, but the loan does not require any pre-trial. But whether the cash to buy a house or need a
loan, the broker will let you fill out a buyer by
Economic status table (Financial Information Sheet). You have to fill out this form, in particular name,
address, occupation, work orders
Bit, annual income (Gross Annual Income) and the debt portion (Liabilities). Debt including car loans,
credit cards amount owed, as well as its
It debts. If you do not want to disclose all your assets (Assets), down it does not matter, but the deposit
amount you fill your head shall not be less than
(Down Payment) number. Your broker to advise you on Rates range depending on your financial
situation. Many sellers also requires buyers in the quotation
When economic conditions attached table buyers. If the cash to buy a house, the buyer is the seller
economic situation only on the basis of the table, so when a certain offer
To attach this form.
If you need a loan, the broker will be based on your financial situation I suggest you ask the loan
company to a pre-ratification of the loan (Loan Preapproval Letter). Because loan companies to check your credit points will be your social security
number. If you have other loan companies

Or your own bank contacted, you can use the loan pre-approved book your own loan companies or
banks. No matter who you use, you
When formal loans can still shop around. Loan pre-ratification purpose is to determine your rates limit.
Loan pre-ratification is reported
One accessory price contract. It tells the seller that you have contacted the company or bank loans,
credit points and income are checked, the beginning of the bank
Step agree to lend you money. Loan pre-ratification of the loan amount as high as possible, do not
worry because you have money and sellers to raise prices. Sellers worry
After accepting the offer is to apply for less than the loan contract buyer can not transfer, the seller of a
waste of time. In buying and selling homes, the time is gold
Money. A $ 500,000 house, if the interest is 6%, the interest is $ 2,500 a month. Sellers are more
willing to accept the good economic situation
The buyer's offer.
Apply for a loan pre-ratification also requires the following information:
Name of purchaser (Buyer Name)
Social Security Number (Social Security Number)
Rates (Sales Price): real house prices or the highest price
Loan Amount (Loan Amount)
Types of loans (Program): 30-year fixed rate is generally
Deposit (Deposit)
Transfer date (Settlement Date): write the actual date or pending
Address buyer (Buyer Address)
Telephone buyer (Buyer Phone)
Buyers Revenue (Income)
The maximum loan amount depends on the total household income and other debt
Most banks allow the buyers to 28% of their monthly income for housing-related costs, such as loan
principal (Principal), Lee
Interest (Interest), real estate taxes (Real Estate Tax) and homeowners Insurance (Home Owner
Insurance). Banks will also consider other family

Debt, such as car-month money (Car Loan), tuition fee loans (College Tuition Loan), credit card debts
(Credit Card Debt) and the like.
These debt plus housing cost should not exceed 36 percent of monthly income. If you have other debt
accounted for 12% of monthly income, you can only use 24% do Room
Section. So buy a house, take other debt at 8% is eligible for the lower limit. If you have no other debt,
you can do with 36% paying back the principal. In
Under the current price of more than most people can afford, the Federal Housing and Urban
Development (HUD) allows family housing plus other debts
Loans of up to 45 percent of monthly income.
There are over two hundred kinds of types of loans, but mostly derived from two basic types out:
floating rate (Adjustable Rate Mortgage,
ARM) or a fixed interest rate (Fixed Rate Mortgage). Starting interest rate floating-rate loans is lower
than fixed-rate loans, future interest rates
With an index (Index) and float. Start floating and floating life has the magnitude of the prior
regulations. If the loan interest rate is higher than 9 percent,
And declining, available floating rate. Common fixed-rate loans for 15 years or 30 years. More than 30
years of low interest rates for 15 years. in case
When the loan interest rate is lower than 8%, alternatively a fixed interest rate. Loans from the loan
sources can be divided into three general loans (Conventional), low
Income Government grants loans (FHA), and the US Department of Veterans Loans (VA). The amount
of loans from the loans and can be divided into three categories, micro-credit
Models, ordinary loans, and large loans (Jumbo Loan). One hundred thousand of the following genera
loan. Loans in excess of $ 417,000 in the case of large loans
Section. From March 2008, the loan amount exceeds the greater Washington area considered large
loans of $ 562,000. Large loans interest rates than conventional loans
High. If you are unsure, you can ask the loan broker. Asked later if still unclear, simply choose 30-year
fixed rate.
Deposit (Deposit) is at the same time offer the buyer, the buyer's broker's money. If buyers are not
justified under the premise
Buy unilaterally tore up the contract, the deposit took it back. Deposit more, indicating buyers We
larger vendors more assured. Most of the company provides
Deposit of not less than $ 5,000. The seller in order to protect their own interests, but also require a

higher down payment.

Transfer date (Settlement Date) can be set at 30 days after the commencement of the contract to 45
days. Computer automation greatly reducing the loan approval time
Inter, so 30 days or less transfer a reality. Some banks confiscated the house clearly defined within 30
days of the transfer.
Loan pre-ratification including types of loans (Program), the first amount (Down Payment), loans
(Loan Amount), Lee
Rate (Interest Rate). It will have the following words: buyer credit history that is based on the preratification has been verified (Credit
History), the economy (Financial Information) and occupational history (Employment History). Final
approval of the loan has yet to be identified
The real estate contracts can (Ratified Contract) and Housing Valuation (Appraisal).
Pre-ratification while not indicate invalid date, but it is time-sensitive. This is because the person's
credit points, economic status and occupation will have changed
Of. If the pre-ratification was written six months ago, it is necessary to re-write one.
IV. Election room showings
Broker will set up house automatically search for you according to your requirements. As long as there
is compliance with the requirements of your house listed, the information will be automatically sent to
your
Email. Standard search is the price range may be, chamber (Detached, Townhouse or apartment), city
name or zip code, building Year
Generations, and the like. Although the school district is one of the search criteria, but many brokers in
order to protect yourself, do not fill in the school district. So you want the school is located
The house is to find out, and then to confirm that you want is not in the address to the school district
website.
From the link in the e-mail address can be seen, prices, room type, and one to thirty photos. If you see
satisfied, you can drive yourself
See the surrounding environment, including from the highway and main road distance. Within four
miles from the highway is good, we should go a little further away
Road, traffic lights and more time-consuming oil. From the highway can not be too close, too close to
hear the sound of traffic. Some people do not like to have a high pressure nearby
Line. While the impact of high-voltage lines on human health remains to fight different, but if you have

a choice, as little as possible trouble. There is the house's backyard

No open, back-woods or open spaces certainly better than his back to someone else's backyard. If you
are detached, next best is detached. If Townhouse
House, next to the apartment is not the best. Not satisfied with the external environment, can be ruled
out. For example, I bring the customer showings, I came across the following circumstances,
No door: 1) leading to the open house of the road is difficult, steep and narrow, open a sweat. The car
everyone's first words, if the snow how
What to do? 2) came to the door I heard the sound of traffic Xuan uproar. While some houses are not
close from the highway, but because of the sound back to the valley
As a result, traffic sound heard very clearly. Next 3) the house is the cemetery or funeral home. These
Americans are no longer peace, some Chinese customers are more
Taboo.
Primaries pass, and then take you to see inside some brokers. You can see the general 20 minutes in the
same area of a house, one can see five to six rooms
Son. The following matters should be noted that different chamber.
Apartment: Unless you are ready to single life, it is best not to buy one-bedroom apartment, own soon
enough to live, and the future is difficult to sell. a lot of
People do not like the ground floor or the top. Two bedroom apartment with two bathrooms best one in
the master bedroom and another next to the second best
Bedroom, for family and guests. Preferably with one to two parking spaces.
Townhouse: If you need three bedrooms, to buy Townhouse. Preferably with one to two car garage.
Preferably with two bathrooms upstairs, one in the master bedroom
Indoor, another for the second and third bedroom use. Best to have a bathroom on the first floor.
Detached: If you occasionally need four more bedrooms, buy detached. The first floor will be the living
room, living room, dining room, and kitchen. Upstairs two
Layer three thousand feet or more, there will be a study. There are three bathrooms upstairs best, the
first one in the master bedroom, bath preferably with water
Hole, and a separate shower. The second one in the second bedroom, the third for the third and fourth
bedroom use, such as to connect the two bedrooms more
Great. Chinese people like to lead an outdoor kitchen range hoods. Basement completely flat out the
best, but also line up the ladder out of the can. Basement

If you have already completed, it is best to have a full bath. If there is a bedroom, bathroom followed
by the best, easy to use at night. If there is no basement
Decoration, the best are reserved for drainage, build a good future bathroom. If you want to put a ping
pong table, at least 24x13 (length x width) feet of space.
Showings, visit a comparison table is available (visit the comparison table lists the 26 projects each for
reference, readers may need in the article below
Download sites) to record and compare the advantages and disadvantages of different house. For
example, the size of each room, the layout is reasonable, status, etc.
Wait.
Address (Address)
Asking Price (Listing Price)
Government assessor price (Tax Assessment)
Several bedrooms (# Bedrooms)
Several bathrooms (# Bathrooms)
Several garage (# Garage)
Living area (Living Area)
Area (Lot Size)
Architecture's (Built Year)
Living room (Living Room)
Living Room (Family Room)
Restaurant (Dining Room)
Kitchen (Kitchen)
Study (Library)
Master bedroom (Master Bedroom)
Other Bedroom (Other Bedrooms)
Wardrobe (Closet)
Storage room (Storage)

Basement (Basement)
Terrace (Deck)
Vestibular (Drive Way, Side Walk)
Backyard (Backyard)
Availability (Condition)
Quality School District (School Quality)
Time to go to work by car (Commute Time)
Convenient shopping (Shopping)
Overall (Overall Opinion)
V. contract
Selected satisfactory house broker will provide you comprehensive search for information, to
determine the asking price. For information include: the house is listed on the market divided
Analysis (Comparative Market Analysis, referred CMA), market statistics (Market Statistics), and
government tax assessor Price (Tax
Assessment).
House Listing History: hand house down several times, each time the price is how much, at what time.
Houses on the market, how many days, and there is no drop
Over price. Why the seller to sell the house. If seller purchase price is low, but the question of how
much to sell to make money, may be better to talk about the price of some. in case
House just listed soon, or just cuts prices, or in no hurry to sell, the seller may be reluctant to you
bargain.
Market Analysis: Because the same house in different places (Location) Rates vary widely, so market
analysis actually look like the room
Child in the same community at the same time (within six months) how much to sell. If you can find
the same size, the same number of bedrooms and bathrooms, the same
In the basement of the house, it is best. Otherwise, to adjust prices or to a little far away to find a
similar house.
Market Statistical data: real estate computer networks are published monthly statistics houses, one of
which is the sale of houses where the zip code rates and to bid

Examples average. Referring to the proportion to the average broker will offer. Such as zip code 20850
price ratio and average asking price in February 2008
It is 93.58%, 6% when the offer can bargain. If you leave room for bargaining to the seller, but also can
cut even lower.
Government assessor Price: This is the local government in order to determine the real estate tax and to
estimate the value of houses and land, should be a more objective data.
When a seller's market, housing sales price may be higher than estimated tax price. When a buyer's
market, housing sales price may be lower than estimated tax price. In the same
Time the same community, if other estimates are lower than the asking price of the house tax price, you
buy the house asking price was higher than the price of assessment, that is asking for partial
High as you can on that ground and bargain.
Contract offer but also indicate the deposit (Deposit): It is at the same time offer the buyer, the buyer's
broker's money. If the buyer is not
There are legitimate reasons to buy a house unilaterally tore up the contract, the deposit took it back.
Deposit more, indicating buyers We larger vendors more assured. Most
Not less than the number the company provides deposit $ 5,000. The seller in order to protect their own
interests, but also require a higher down payment. Usually the amount is fixed quote
2% to 3%.
In addition to determining a quote, deposit, the broker will help you select some additional provisions
to ensure you can legally cancel the contract, if necessary, back
Deposit. The following additional terms are commonly used.
Home Inspection (Home Inspection), boom gas inspection (Radon Inspection) and termites (Termite
Inspection) examination:
In the contract offer, you can attach additional terms these three checks. Validity of the clause is
generally 7-15 days. In the period, buyers have
The right to inspect any of the grounds of failure to cancel the contract or request the seller to pay
maintenance or handling.
Housing Valuation (Appraisal) and loans approved (Financial): the contract offer, you can also attach
houses two additional appraisal and loan approval
Terms and Conditions. Validity of the clause is generally 15 days. But because of subprime loans, the
bank more selective, housing valuations appear below the contract price

The situation affecting loan approval. For safety reasons, the loan approval can be valid for additional
terms to 20 days. If houses valued at less than
The contract price, the buyer may require the seller to contract price down to house valuation, or cancel
the contract. If buyers are not eligible for the loan, the buyer may be attached
Add provisions to cancel the contract within the validity period.
Air conditioning (Air Conditioning System) or the pool (Swimming Pool) Checks: If the function to
buy a house, air conditioning or swimming pool in winter
You can not check. In the contract offer, you can choose to check air conditioning or pool before May
31 after the transfer. If not, it may require the sale
Main money for repairs.
In the contract offer, you can also add a variety of additional terms, for different purposes. Such
escalation clause (Escalation
Clause) In a seller's market with more than, in a buyer's market rarely used. But I for customers buying
the bank confiscated house in a buyer's market with
Too. The specific method is the buyer to select the amount of the highest bid and escalation. If another
offer is higher than my offer, my offer on automatically
The amount escalating growth. If there are other quotes escalation clause, that the higher the amount of
the highest bid win.
When the offer but also to determine the date of transfer, usually in 30 days to 45 days. The best set
Tuesday to Thursday. If on Monday, transfer public
Division Sundays do not work, you can not take a day early transfer list, look at how much money you
want to open a bank check. If on Friday, afraid in case the same day
Can not transfer is completed, to wait until next week. Set the best time in one p.m.. Morning room can
be a final check (final walk
through), to the bank to open a checking.
Contract offer plus additional terms and the necessary documents, there are about 50, the main sign to
buy a lot of words. If the seller refuses to offer, the contract on offer
A pile of waste paper, but also a waste of everyone's time. A time- and contribute to environmental
protection method is to write an offer letter of intent, care
Negotiations on the basis of the book. And so prices negotiated before the formal contract offer. Quotes
a letter of intent may include the following content.
Housing System Number (MRIS #):

Address (Property Address):

Asking Price (Listing Price):
Date (Date):
Buyer name (Buyers' Names):
Offer (Offer Price):
Transfer date (Closing Date):
Loan Amount (Loan Amount):
Deposit (Deposit on Sale): $ 10,000
7 days after the approval of the contract: Home Inspection clause (Home Inspection)
7 days after the approval of the contract: Check the terms of gas boom (Radon Inspection)
7 days after the approval of the contract: termite inspection clause (Termite Inspection)
Building Assessment Terms (Appraisal Contingency): 15 days after approval of the contract
Loans approved terms (Financial Contingency): 20 days after approval of the contract
Housing Businesspeople tax (Transfer Taxes): 50% of all buyers and sellers
Buyers annual income (Buyers' Income):
Buyer Broker (Buyer Agent):
To prevent the seller holding your contract offer bargain with other buyers, you can specify in the
contract offer, which hold prices within one day there
Effect. Seller may reject your offer, or give you a price. You can refuse to bargain, or raise your offer. If
the two sides can reach
Agreements, contracts to sign into effect the (Ratified).
VI. Home Inspection
Home Inspection (Home Inspection) is a contract offer indispensable additional terms (Contingency)
one. When the seller and the buyer in the purchase contract
After signing the entry into force (Contract Ratified), the first thing the buyer is to ask a licensed home
inspection division (Home Inspector)

To check the house. Check the fee paid by the buyer, the price may be based on room rates from $ 200
to $ 600 or even higher, the higher prices more expensive inspection fees.
Buyer broker will recommend two to three inspection divisions, for buyers to choose from. General
home inspection probably two to three hours. When the buyer with room check
The inspection division to go, you can learn a lot. Examiner will explain to the buyer side while
checking considerations or problems. Check the contents of the package
Including the basic structure of the Housing (Structure), foundation (Foundation), a roof (Roof), floor
(Floor), walls (Wall), doors (Doors
and Windows), basement (Basement), the power supply system (Electrical Systems), water supply and
drainage (Plumbing), heating and cooling set
Standby (Heating and Air Conditioning Systems), smoke alarms (Smoke Detector) and the like. Check
the division to fill out a detailed
Inspection reports, including the status of the house, which the device may be a problem, the remaining
life is how much, how to maintain, and so on. In addition to detailed
The test results, there will be a summary of major repairs include selling part. If the buyer
requirements, inspection division will be helped valuations. Good inspection
Investigation division will attach color photos, so the problem at a glance.
Buyer broker will check the additional terms of housing within the validity period (usually seven days)
for the buyer to write a housing inspection according to the inspection report is attached
Piece (Home Inspection Addendum) to the seller broker. General foreclosure sale of the house indicate
the AS (AS IS), room inspection
Problems will not be responsible. Buyers found the problem after checking the house, only requires
departure or own repairs. If normal houses main structure of the house
There are big issues, such as ground fault, houses have collapsed and so dangerous, the buyer can
cancel the contract, other problems may require the seller to repair.
Upon receipt of house sellers Check the accessories, to respond within three days, or agree to repair the
corresponding repairs. Some things are selling
Owner must repair, as the basic structure of buildings, foundations, roofs, electrical systems, water
supply and drainage, heating and cooling equipment, smoke alarms and other problems,
no work. Power supply systems and drainage problems even for a licensed electrician or plumber to
repair it. Other vendors can not repair things, like
Hole in the wall, floor or carpet damage and so on. But the seller does not repair the buyer can not buy,
so the two sides negotiated settlement. Buyer receiving the seller

After the response, but also to respond within three days. The two sides reached an agreement,
additional terms of the abolition of the home inspection. The seller promised to repair
Something must be done in accordance with the invoice repairman.
Radon is a gas containing radioactive elements, are carcinogenic. Outdoor air, radon content is 0.4
picocuries per liter (pCi / L). United States
EPA (Environmental Protection Agency, EPA) regulations indoor radon levels can not be more than 4.0
picocuries. Radon
By the presence of uranium in soil division generated, it will enter the room through cracks in the
foundation or basement drain pump. No basement of the house does not need
Check to make radon (Radon Inspection). Radon inspection also can be one of the additional terms of
the contract offer, you can check your house division together
Do. Inspection fees is out by the buyer, the price of 100 yuan to 130 yuan. If the test results indicate
that the radon index exceeds the standard, the buyer broker will
For the buyer to write a radon inspection annex (radon Inspection Addendum), to cancel the contract or
require the seller to take measures to lower radon
Shi (Radon Mitigation System), spent $ 800 to $ 2000. Check the seller after receiving radon in Annex
A to be made within three days
Complex, or agree to lower radon corresponding processing fees. Buyers after receiving the seller's
response, we must respond within three days. The two sides reached
After an agreement, additional terms radon inspection was canceled.
US housing is the main building material wood, termites are pests damage wooden structures. Termite
inspection (Termite Inspection) can be combined quote
One additional terms identical. Such as loans to buy a house, the bank necessarily require a termite
inspection. Detached, Townhouse, apartment building three of the following must be seized
Check. Cost 20 yuan 30 yuan, Maryland by the buyer out of the seller out of Victoria. Check the
company will transfer the inspection report and the bill sent to the company.
Date of inspection reports must be within 30 days of the transfer. The inspection found termite damage,
check the companies noted in the inspection report card processing
Costs. Buyer buyer broker will write a termite inspection annex (Termite Inspection Addendum),
requires the seller to professionals
deal with. Processing bill will be sent to transfer the company, shall be borne by the seller. Seller after
receiving termite inspection annex to respond within three days. Double

After the parties reach an agreement, additional terms termite inspection was canceled.
If you buy a house in the winter features, air conditioning (Air Conditioning System) or the pool
(Swimming Pool) of not checking. You can report
Plus the air conditioning or swimming pool when the transfer price after checking additional terms.
Check out these two fees from the buyers. Check the time can not exceed transfer
Until after May 31. Check the division must have the relevant license. The buyer can not try before
checking air conditioning. If you check the problem, you may be required to sell
Main money for repairs.
1978 years ago, built a house, you may use leaded paint. Lead enters the blood, affects the nervous
system, kidneys and hematopoietic function. Leaded
Paint a greater impact on small children because they may put something with lead dust into his mouth
to eat. The United States in 1978 banned the students
Production and use of lead-based paint, but some areas until 1979 before the implementation (including
Maryland). Buy a house built before 1979, the buyer may
Requirements for indoor wall paint for lead inspection (Leadbased paint inspection), as one of the
additional terms of the contract offer.
Terms usually valid for ten days, examination fee of about 50 yuan 450 yuan, out by the buyer. Site
chemical examination is cheaper, but there is no measure only
Lead, it can not be measured by. 30-70 samples sent to the laboratory is too much trouble, but also
damage the walls. X-rays nor accurate damage
, But charges higher. If you check out the lead paint, the buyer can cancel the contract or require the
seller processing. Sellers must ask professionals at
Manage and produce processing certificate. A home inspection division told me in 1979 and now the
wall must be repainted many times, and it should not be
Lead dust fall. If the windows are replaced, the better.
Such as buying a new house, the Chamber of Commerce building to the one-year warranty, so before
the transfer can not do room check. Proposal to be seized in the room when ten months, as the problem
can be isolated
Let warranty for repair. If the house was built in the foundation backfill powder mixed with a chemical
to prevent termites into the room, the new house is not within five years
It will appear termites, because this powder is valid for five years. A new house around the foundation
may also install exhaust duct, and then hit the concrete floor

Hole or the use of small wells basement, and an exhaust pipe connected to the exhaust radon outdoors.
Real estate transaction time-sensitive (Time Is Of The Essence), additional terms home inspection,
radon and lead paint inspection valid until
9:00 on the evening before the buyer to the seller if you do not send test results attachment, these
additional terms are automatically canceled. If the buyer within the validity period
Send a notice to the seller, selling mainly within three days to reply. After receiving replies buyer seller,
but also to respond within three days. Any party
Upon receipt of the other party notice not reply within three days, it means accepting the other final
provisions. The two sides reached an agreement on the inspection results for each treatment method
After discussion, the broker will prepare a final annex, enables buyers and sellers to sign.
VII. Apply for a loan
If it is not a cash transaction, the loan is the most critical step, not borrow money to buy a house.
Buyers going application within seven days of commencement of the contract
Loan. You can find the bank, you can find a loan company. If you know which bank interest rates low,
you can apply directly to the bank. Otherwise
You only have to find a loan company, since the loan companies can look for the lowest interest rates in
a number of banks, or looking for your credit situation.
In the third step of the process when examining the United States to buy a house loan, you have contact
with a loan company. If you trust the company, you can apply to it
Please. If you want to shop around, you can re-funding the two companies. It should be noted that the
inquiry day you finally get the interest rate is not locked
Interest rates, because interest rates are changing every day.
Expenses relating to loans include the following costs:
Fee (Loan Origination Fee): generally 1% of the loan amount
Points (Discount Point): A point is one percent of the loan amount, a point may reduce interest rates by
0.25%
Housing valuation fee (Appraisal Fee): $ 250 $ 500, about high housing prices and costs more
expensive.
Credit report fee (Credit Report): $ 2060 $
Processing Fee (Processing Fee): $ 200 $ 500

Tax service fee (Tax Service Fee): $ 50 $ 100

Flood proof of expenses (Flood Certificate): $ 10 $ 20
Approval fee (Underwriting Fee): $ 200 $ 500
Document preparation fee (Document Preparation) $ 200 $ 500
The above costs may be slightly different in each company, you can find a little fee. Each company will
let you pick no points loan. Add
Points of benefits is final payments will be reduced, the drawback is when you want to transfer more
pay. Because there are no points Points loans amount Shihai seven phase
And so on, if you can keep the loan for more than seven years, you can add points. Do not add points,
especially in the case of the transfer fee is very tight.
After selecting a loan company, you must first fill out a loan application form (Uniform Residential
Loan Application). Loan application forms have five
Paper, including the following.
Loan types and duration (Type of Mortgage and Terms of Loan)
The purpose of real estate information and loans (Property Information and Purpose of Loan)
Lenders situation (Borrower Information)
Work (Employment Information)
Monthly income and expenses (Monthly Income and Housing Expense Information)
Property and debt (Assets and Liabilities)
Real estate transaction details (Details of Transaction)
Loan application form must fill out and prepare all documents, such as payroll within 30 days, two of
W2, the last three months
The list of banks, and the like. If there is no W2, to provide a two-year tax bill. Loan officer after
receiving your application form, within three days to give you a
Estimated transfer fee table (Good Faith Estimate, GFE), tell in advance how much money you borrow
this loan you eventually spend. Many initial loan
A total of 30 people also saw two to three times the amount of the loan amount, they all surprised.
Some people do not understand why there is a transfer fee estimated table

Two interest rate, a low, a high. Low interest rates that are (Interest Rate), that is in high percentage
(Annual Percentage
Rate, APR). Annual percentage interest rate plus all expenses relating to loans after counted out, to
better reflect the real interest rate loans. and so
Comparison of the two banks in the lending interest rate, annual percentage should be lower than
anyone else.
After the buyer submit the loan application, the loan company or bank will ask the appraiser to the
Housing Valuation (Appraisal). In the contract offer, you can attach room
House Valuation (Appraisal Contingency) and loans approved (Financial Contingency) two additional
terms. Validity of the provisions of the general
It is 15 days. Batch but because of subprime loans, bank more selective, appear houses valued at below
the contract price, the impact of the loan
Quasi. For safety reasons, the loan approval can be valid for additional terms to 20 days.
If the valuation is lower than the contract price of housing, buy housing mainly within the valuation
submit additional clause is valid seller buyer house valuation notice
Book (Buyer Appraisal Notice) and attach Housing valuation report, the contract requires the seller
drops the price of housing valuation. If the buyer does not in
Private sellers submit valid notification, house valuations additional terms still continue, unless the
seller written notice to the purchaser, housing valuations additional clause
The period of limitation, it should be canceled. If the buyer within three days after receiving the notice
does not submit a notice of buyer valuation houses, house estimates to the seller
Price Additional Terms third 21:00 officially canceled.
Buy principal loan approval within the validity sellers submit additional terms Additional terms of the
loan approval cancellation notice (Financial Notices). Such as
If the buyer does not notify the seller filed within the validity period, the loan approval additional terms
continued. In this case the seller is entitled to declare the contract canceled, such as
Buyers not reply within three days, the contract at 9:00 pm on the third day was canceled. If buyers do
not want to lose the house, you must pay the loan cancellation
Notice shall approve additional terms. If the buyer receives the approval of the additional provisions
within the validity reject loan applications written notice in loans, as long as
Send a copy of the notice to the seller, the contract was canceled.
After approval of the loan interest rate the buyer also locked (Rate LockIn). Interest rate lock-up period

is 30 days, 45 days, 60 days or longer. The longer the time, Lee

The higher the rate. Generally 30 days before the transfer lock.
The upper limit of the loan amount by the lender determines the economic situation, can not borrow
money or the interest rate is good or bad by the lender's credit points (Credit
Score) decision. Credit or no credit score of less than 620 points is difficult to credit to general loans
(Conventional Loan). Low-income government
Grant loans (FHA) and the US Department of Veterans Loans (VA) minimum credit score is 600.
Credit points higher interest rate, the better, but interest rates are more than 740
It is the same. Further more the down payment, interest rate, the better.
How can we improve credit points? Let us look at the factors affecting the credit score and proportion.
Past payments (Past Payment Performance) 35%
Credit card (Credit Utilization) 30%
Credit history (Credit History) 15%
Credit types (Types of Credit in Use) 10%
Credit inquiries (Inquiries) 10%
Because in the past the largest proportion of payments, so you just pay utility bills on time, credit card
and various bills, credit points will not be bad.
VIII. Insurance
Unless you use the cash to buy a house, or else loan companies must transfer before you buy
homeowners Insurance (Home Owner Insurance or
Hazard Insurance). Such insurance indemnity loss mainly caused by house fires, so some people call it
fire (Fire Insurance). Its
Real homeowner protection and indemnity insurance also many other reasons for the loss of housing or
personal property caused by accidental passers-by and guests even occur.
Resident homeowners Insurance following categories: The following is the English owner HO (Home
Owner) acronym.
HO1 basic insurance (Basic): protection and indemnity due to fire, lightning, smoke, windstorm, hail,
robbery, theft, explosion, broken glass, aircraft
Or car, riot or commotion, and vandalism caused damage to houses. Basic insurance also pay personal
injury protection, property damage to others, lawyer

Fees, medical expenses, indoor personal property, housing cost of houses damaged.
HO2 expand insurance (Broad): the basic insurance on the basis of additional insurance due to the
shock, the weight of snow, frozen water pipes, the sky falling body, water heaters or air
Conditioning system broken or burned, damage caused by leaking indoors.
HO3 Full Insurance (All Risk): On the basis of the basic insurance and the expansion of insurance on
almost all of the additional insurance in addition to the war within, floods, earthquakes and subsidence
Yung. Guests also indemnity accident occurred indoors or outdoors, unexpected passers outdoor
occurred. Even after the family dog bite compensation for medical injuries
Fees, even attorney fees.
HO4 tenant insurance (Renter's): P & I Personal property apartment building tenant chamber.
HO5 comprehensive insurance (Comprehensive): a broader, more expensive than the premium full
scope of the insurance protection and indemnity.
HO6 apartment insurance (Condominium Coverage): Protection and Indemnity unit and indoor
apartment owner's personal property. Guests or passers-by in the indoor or households
Outside of accident, fire, theft, or damage caused by water leakage. Apartment owners must read the
prospectus carefully to determine structure must buy insurance
Fee amount.
HO7 activities of insurance (Mobile Home): apply to mobile home owners.
HO8 old house insurance (Older Home): old house to rebuild the market price is lower than the price.
Tenements allow homeowners insurance at below market prices reconstruction
Market price for insurance.
There is also a landlord fire (Dwelling Fire), applicable to non-commercial buildings landlord. In
addition to fire, but also the protection and indemnity snow, storms and mildew
Losses caused by bacteria.
IX. The main purpose of the transfer of the transfer Please transfer lawyer is to ensure buyers get the
legitimate property rights, so the buyer the right to choose a lawyer transfer. If you do not
Know who to turn to, the broker will recommend to you. Lawyers checks before the transfer of
property rights history (Title Search), to identify the seller does have rights, can
In the house sold to you. To check up 40-60 years, each state has its own rules. If you identify the
problems, we should solve the problem before

Energy transfer. Property inspection also found that the real estate-related debt (Lien), such as arrears
of taxes (Real Estate Tax Lien), loans
(Mortgage Lien), renovation costs (Mechanic's Lien) and so on. These debts will go along with the
house, so before the transfer must be the seller
They removed. If not, after the transfer of the Law Society to the local Bureau of Land Management
(Department of Land Record) The deed registration
In the name of the buyer. To prevent accidents, lenders will ask buyers to buy title insurance (Title
Insurance Lender's loan bank
Coverage). Homeowners own title insurance (Owner's Coverage), the buyer has the right buying
decisions.
To transfer one week before the implementation of the loan. If interest rates have not locked (Lock), to
immediately lock, to avoid surprise at the transfer. Also according to
Transfer the company to a list of transfer fees (HUD1) draft, the transfer fee is ready, and when the
bank how much notice.
Check out a few days time before the transfer to house buyer broker will issue checks to the seller
broker Repair bill (Repair Invoice). General repair
Should have a 90-day warranty period, the warranty repair bill may also be used as credentials. Buyer
before the transfer but also to house check again (Final Walk
Through). In addition to watching the repair everything repaired, all devices are running, the seller of
the things left behind are also logged Hydropower
Digital gas meter. If you do not fix what was found, but also to negotiate with the seller at closing.
The day before the transfer, the transfer company will give a precise list of the transfer fee, according
to the buyer's closing costs on inventory, cash to bank branch
Ticket (Casher Check). You can cash a check made out to the buyers themselves, when transfer transfer
company paid either in writing on the reverse side. Even when the transfer belt
A personal check, if the actual transfer fees exceed the amount of cash a check, and then open a
personal check filled.
Transfer fee includes five parts, the costs relating to loans, lenders advance payment, withholding
intermediate accounts, and property-related costs, in order to
And transfer taxes and property registration tax. Various fees add up prices 2% to 4%, not including the
down payment portion.
Costs associated with the loan (Items Payable in Connection with Loan): see U.S. apply for a loan to

buy a house seven processes.

Loan Bank advances received (Items Required by Lender to be Paid in Advance)
Prepaid interest on loans a month
The total number of loan insurance to about 1.5%, the monthly payment, down payment of 20% of the
loan insurance can not buy
Year home insurance, about $ 1.0 per $ 1,000 fee to $ 2.0
Intermediate accounts withholding (Reserves Deposited with Lender)
Withholding two months of house insurance
Withholding month loan insurance
Withholding two to seven months, real estate tax, depending on the transfer of the month
Costs associated with property-related (Title Charge)
Transfer legal fees (Settlement Fee) $ 200 $ 350
Property inspection fees (Title Search) $ 100 $ 200
Bank Property Insurance (Title Insurance Lender's Coverage) $ 2.4 per $ 1,000 loans around
Homeowner title insurance (Owner's Coverage) Rate per $ 1,000 of about $ 1.8
Notary and other expenses
Government registration tax and transfer tax (Government Recording and Transfer Charges)
Registration fee (Recording Fee) 80
City / county transfer tax / real estate license stamp duty (City / County Tax / Stamps) as prices 1%
State transfer tax (State Tax / Stamps) as housing prices by 0.5% for the first time to buy a house in
Maryland, 0.25% buyer relief
State registration tax (State Recordation Tax), Maryland for every $ 1,000 Rate $ 6.90. If it is from the
housing, before fifty thousand non-payment registration
Tax. Washington, DC 400 000 below the house to house prices of 1.1%, 400,000 more than 1.45%.
Victoria is $ 3.34 per $ 1,000 Rate
Lawyers also recommend buyers purchase transfer boundary survey diagram (Survey). Someone asked
why every Sellers have to spend money to do the heavy boundary survey maps,

It goes with the seller it is not possible to save money. Counsel replied that the redo ensure the accuracy
and authenticity boundary diagram, otherwise there may be
People loophole to leave Fig. Simple boundary survey diagram (House Location Drawing) is painted
house location and boundaries of the plan, fee
Used in the $ 150 to $ 300. There are three houses with complex boundary Location (Boundary
Survey), it costs $ 450 to $ 2,000. Make a
Zhang easiest it.
There will be a transfer fee list words POC, meaning before the transfer paid over (Paid Outside of
Closing), such as home inspection fees
and many more. Termite inspection fees are generally paid at the time of transfer. House insurance can
pay, you can pay at the time of transfer.
When you want to transfer with valid documents, such as driver's license or photo ID. If not, a green
card or passport is required. But also with banks now open
Kim checks and personal checks. General transfer to one hour, the main task is to sign pay, to sign a lot
of documents. Lawyers had first transfer
Household expenses list (Settlement Statement) over again, without objection, to put all the files out, so
buyers and sellers to sign.
After signing the word, check to transfer to the buyer attorney, lawyer transfer all the signed documents
take a copy and handed a signatory. At last
The key to the buyer the seller, the buyer of the house is.
X. move move
The final step is the transfer of the keys to the buyer the seller, so the buyer can transfer move. If you
buy a new house, you can directly
To move in. If you buy an old house, the seller's liability is limited to sweep the house clean. So you
might want to re-paint the walls or clean ground
Blanket. In 4-5 days before moving contact water Electric Company, and they asked to do. Some
companies want you to read their own instruments, some companies do not.
Moving day go to water, electricity and telephone to confirm the name of the account to the buyer.