logo
旧金山 icon
icon 旧金山 icon
新闻与资讯
Ten important terms to buy a house
Ten important terms to buy a house 旧金山
By   Internet
  • 指导
  • Buying a home term
  • title
  • mortgage
  • granting approval letter
Abstract: Title records, adjustable mortgages, closing, closing costs, strings attached, bargains, easements, third party escrow agents, home inspections, homeowners insurance, mortgages, pre-approval letters, titles, title insurance are all terms we need to know when buying a home.

Important terms you need to know in the process of buying a home in the U.S.

 

Title Record

 

It records all the transactions of the property since the first public legal transaction so that buyers have a full understanding of the property's transaction history for reference purposes.

 

Adjustable Mortgage

 

Also known as a fixed-cycle variable loan, an ARM is a pattern of periodic changes in the interest rate of a loan. Generally available in 1, 3, 5 and 7 year terms, most mortgage rates have a maximum cap.

 

Closing the deal

 

Closing a transaction is the complete end of the home buying process. Generally, there is a deadline for the closing of a home. The buyer and seller need to complete all the paperwork and sign the relevant documents within the previously agreed upon time frame, and then complete the payment process.

 

Settlement Costs

 

When investing in a home in the United States, in addition to paying the seller for the home, there are other costs associated with the purchase. Some of the more common ones are home inspection fees, home property insurance, property taxes, etc.

 

Additional Conditions


Prior to a real estate transaction, the buyer and seller need to work together to draft a contract. This is the time when both parties can propose certain terms and conditions to protect their rights and interests. The following three general conditions are attached:

 

Conditions attached to the loan, mainly for problems that may arise in the loan. However, this clause is generally not required if the purchase is made for cash.

 

The appraisal condition.

 

Home inspection condition.

 

Generally, the buyer has 17 days after entering the household transfer process to remove all conditions attached. This means that if the loan is not paid or the home inspection is not satisfactory within 17 days, the buyer can cancel the contract and get the deposit back.

 

Bargaining

 

Buying a second home in the United States requires buyers to bid in cities where real estate is in demand. We can start by providing the seller with an offer and terms. If the seller rejects our terms, but still wants to continue negotiating with us, he or she needs to reply to us with a Counter-Offer.

 

Easement

 

This is a relatively uncommon situation in the home buying process. It generally means that an individual or group has the right to use your property for a specific purpose or reason, or that a portion of your property will be restricted. For example, if a fruit tree in your backyard blocks your neighbor's light, then your neighbor has the right to have you remove the tree.

 

Third Party Escrow Agencies

 

In the United States, money in the home buying process will be supervised by a third party. Usually only after the buyer and seller have fulfilled their obligations under their own contract will the third-party agency pay the funds in hand to the seller, bank or loan company.

 

Home Inspection

 

Before we decide to buy a home, home buyers need to have a professional inspect the home, including assessing the quality and safety of its plumbing, heating, electrical wiring, appliances, roof, foundation, etc.

 

Homeowner's Insurance

 

The United States is a very insurance-conscious country. Many homeowners purchase homeowner's insurance before trading in their homes. Homeowner's insurance primarily protects homeowners and lenders from losses, including personal accidents and loss of property.

 

Mortgage

 

Mortgage means that if you take out a loan to buy a home but do not make the payments on time during the repayment period, the bank or loan company has the right to take your home for collection as collateral.

 

Pre-Approval Letter

 

A pre-approval letter is a letter issued by the lending bank or company to the investor sex to prove that the investor sex has the ability to pay and purchase the property and that the lending company and bank are willing to provide financial support to the investor sex home buyer. Generally, in the United States, only with a pre-approval letter is the seller willing to discuss other matters with the investor.

 

Title

 

The right and ownership of a home property.

 

Title Insurance

is designed to protect against incomplete ownership or use of the home and to provide peace of mind to the homebuyer. If the buyer discovers any title problems after closing, he or she should notify the insurance company in writing of the claim as soon as possible. This means that the purchase of title insurance transfers the risk of possible title problems to the insurance company and the homebuyer is not responsible for any losses caused by title problems.

留言
icon
请输入您的国籍
+87
不能为空
电子邮件地址无效 电子邮件地址未验证!
icon
欢迎访问 House.com
登录或注册以充分利用您的体验。这也将增加您与经纪人交流的机会。
请输入有效的电子邮件地址。
继续使用 Google
提交即表示我接受House.com的   使用条款
icon icon
验证您的电子邮件
你好 我们刚刚将验证码发送到您的电子邮件中。请检查并在此处输入验证码以继续登录。
验证码错误
没有收到电子邮件?请检查您的垃圾邮件文件夹
icon
banner
Ten important terms to buy a house
icon 复制链接
icon WhatsApp
icon Facebook
icon Twitter