Arrowhead Title, Inc.

When it comes to buying and selling real estate, closing a transaction isn't always cut and dry.  There typically tends to be at least a few small hiccups along the way.  As a buyer or seller, you may not see those hiccups because your lender, real estate agent, and title company at the Lake of the Ozarks are working on the back end to address the issues as quickly and painlessly as possible.  While these hiccups may not always be seen by you, they do happen.  Unfortunately, some problems that arise can cause delays in the closing process.  And while closing delays are not extremely common, they can still happen.   Whether you are in the process of buying or selling a home at the Lake of the Ozarks , or you are planning on buying or selling a home in the future, it is important that you understand that there CAN be delays in a real estate closing.  A common misconception that both buyers and sellers often have is that the closing date in a real e...

It doesn't matter how old you are - buying your first home is a big step. Homeownership is a substantial commitment, and it's important to make sure you are truly ready before taking the plunge. Whether you are buying a house with a partner or flying solo, there are certain signs that can indicate when you are ready to buy a house at the Lake of the Ozarks . Here is a quick look at a few of them. 1. You Plan On Staying Local For Several Years Some people are surprised to learn that owning a house is actually cheaper than renting one. While this is generally true, it typically only applies if you plan to stay in your home for a minimum of 3-5 years. If you plan to only live in your home for 1-2 years, renting may be a better option for the time being. There are several upfront costs associate with buying a house (inspection, appraisal, closing costs, down payment, etc), so it takes a few years for these extra expenses to be balanced out by the proportionally lower monthly ...

Buying a home is a big undertaking, and it's important to go into the process with your eyes open. It can be one of the most rewarding processes you will ever undertake, but it can also become a huge burden if not approached strategically. Arrowhead Title, Inc. is here to help you ensure that you are fully prepared to enter the housing market before taking the plunge. Here is a quick list of important questions to ask your real estate agent as you think about buying a home. Questions To Ask Your Real Estate Agent 1. Do You Have Experience With This Type Of Property? Every home is different, and every property comes with a unique set of challenges. Ask your agent if he has experience buying/selling the type of property you're interested in, such as a foreclosure or a short sale. If your agent has worked with your chosen type of property before, you will be much more likely to avoid any challenges that could arise. 2. Are You The Listing Agent For This Property? Ther...

When you think of buying a house at the Lake of the Ozarks , what comes to mind? If you're like most people, you think of touring various properties for sale while searching for your dream home. While this is certainly an exciting process, it's only the tip of the iceberg. Once you settle on your perfect home and decide to submit an offer, there are still several steps that must be executed before the home can be declared legally yours. Arrowhead Title, Inc. is here to help you get a better understanding of the process. Earnest Money When you submit an offer to purchase a home, you must also include a check for earnest money. This check shows that you are serious about buying the property; the more money the buyer provides, the more serious he/she seems. Generally, earnest money amount ranges from about 1-3% of the asking price.  Loan Application If you haven't already, now is the time to begin applying for a mortgage loan. A lender will evaluate multiple finan...

How old are most first-time home buyers? Do more single individuals or married couples purchase homes? How much does the average homebuyer earn on an annual basis? This week, the team at Arrowhead Title, Inc. is here to share with you some of the home buyers statistics from 2015. How do you stack up against the other buyers? Information from the  National Association of REALTORS® 2015 Profile Of Buyers and Sellers . Characteristics of Home Buyers The average home buyer is 44 years old and has a median household income of $86,100. 18% of homebuyers are veterans.  3% of homebuyers are active-duty service members. 13% of buyers purchase multi-generational homes to care for aging parents, to save money, and/or to accommodate children over the age of 18 who were moving back home. 67% of homebuyers are married couples. 15% of buyers are single females. 9% of buyers are single males. 7% of buyers are unmarried couples. The most popular reason people cite for buying...

Did you know? Prospective buyers can decide whether or not a potential home is right for them in a matter of minutes. If you're preparing to sell your house, you'll want to do everything you can to ensure your home makes a positive first impression with every potential buyer. The team at Arrowhead Title, Inc. is here to help with this quick checklist. KITCHEN Remove any appliances or decorative items from counters. Make sure the kitchen is bright and attractive. Keep counters clean and uncluttered to add a sense of spaciousness. Consider new window treatments. Avoid leaving dirty dishes in the kitchen sink or on the counters. If the flooring is badly worn, replace it. Replace any loose or cracked tiles on counters and walls. BATHROOMS Repair any dripping faucets. Unclog sinks, showers, and/or bathtubs that drain slowly. Always hang fresh, clean towels in the bathrooms. Update any old or outdated fixtures. Remove any stains from toilets, sink, bathtubs,...

Real estate foreclosures are somewhat like divorce - no one wants to think it could happen to them, but unfortunately, it is a fact of life for many people. Foreclosures can be daunting and a little scary, but it's important to realize that you do have some options. A Notice of Election and Demand for Sale signifies the start of the foreclosure process. Before taking any action, you should always consult with a local real estate expert to discuss your specific situation. The team at Arrowhead Title, Inc. is here to help by providing you with a starting point for continued discussion. Step 1: Identifying Your Financial Situation Before you can identify which alternative to foreclosure will work best for you, you have to evaluate your current financial situation. Which one of these situations apply to you? Solvent: Your monthly income exceeds your monthly expenses, and you have some savings or assets. Income = Expenses: Your monthly income equals your monthly expenses, ...

Money is a great luxury, but it's also a big responsibility. Deciding what to do with any excess funds today can impact your life for years to come. Investing in IRAs, 401(k)s, and/or CDs can be a great option, but it's important not to ignore another (potentially very lucrative) investment opportunity: real estate. As the best title company at the Lake of the Ozarks , the team at Arrowhead Title is dedicated to helping our clients achieve financial success by coordinating smooth, successful real estate transactions. Believe it or not, real estate could be one of the best investment opportunities out there! Reasons To Invest In Real Estate 1. Control Of The Value Unlike bonds or shares, you can directly impact the value of your asset when you invest in real estate. While you cannot control the housing market, you can choose to make repairs or renovations to your asset that can directly affect its value. 2. Returns Now And Down The Road By putting money into y...

Escrow is a huge part of the real estate process. In a previous blog, " What Is Escrow And How Does It Work? ", we explained the basic definition of escrow and explored how it is used in the world of real estate. We mentioned that in the world of real estate, escrow deals predominantly with earnest money, closing costs, taxes, and insurance. Today, the team at Arrowhead Title is here to help you understand the process of achieving escrow success. If you follow these seven steps, our title company at the Lake of the Ozarks will be able to help you along your path to escrow success! - STEP ONE - Choose which title company you want to handle your transaction. The company of your choice will be able to provide you with an escrow and/or title reference number to help you organize all future communications. Arrowhead Title, Inc. has proudly been providing closing and escrow services at the Lake of the Ozarks for over twenty years, and we would be honored to assist you wi...

A reverse mortgage is a specific type of home loan that turns equity into cash (without having to sell your home). Also known as second mortgages, these loans allow you to borrow against the part of your home that you officially own (in other words, the principle that you have already paid on your home loan). Reverse mortgages can be incredibly helpful for people trying to fund a child's college education or a big remodeling project, but it is important to fully educate yourself on every process first. Arrowhead Title, Inc. is here to help you test your knowledge of second mortgages with this true-or-false quiz. 1. I must have good credit to qualify for a reverse mortgage. FALSE.  The lender will run a credit report for tax and federal liens. All recorded liens must be paid off and property taxes must be paid and be current at the time of closing so the lender can take first position. 2. If I don't want to pay my taxes and insurance, the lender can set aside a portion o...

To you, buying a house at the Lake of the Ozarks means choosing a new home to call your own - a new place to raise a family. To a title agency at the Lake of the Ozarks , buying a house means transferring a land title from the current owner to a new one. This is a complicated process, but a broad overview can be summed up in a few basic steps. Your friends at Arrowhead Title, Inc. are here to help you understand the process! Step 1: Earnest Money When the buyers submit an offer on the house, they include a check for something called "earnest money." This money is essentially a deposit that shows the buyer is serious about the purchase. The title company puts this money into an escrow account to hold until closing, at which point the funds will be applied to the purchase of the home. Step 2: Tax Check Before a title can be transferred to new owners, all outstanding taxes must be paid. The title company will contact various assessors and collectors to find out if the...