Showing posts from February, 2016

What Is A Title Contingency?

If you've been thinking about buying a house, it's time to educate yourself on the process. Buying a home is a ton of fun, but it is also a complicated process with a lot of details that must be met. Your real estate agent will be able to guide you through the process, and our title experts at the Lake of the Ozarks will be here to fill in the gaps wherever we can. This week, we want to look at one particular aspect of the home purchase agreement: the title contingency. What Is A Contingency? Before we look specifically at title contingencies, let's back up and look at contingencies in general. When you submit an offer on the house, you do so through a proposed home purchase agreement. This agreement outlines several details of your proposed sale, including the purchase price, closing date, any specific items that should be included in the sale, and your desired contingencies. Contingencies are conditions that must be met in order for the contract to be considere

Thinking Of Renting? 6 Reasons Why You Should Buy Instead

What are your plans for 2016? If you are planning to relocate for work, move out on your own for the first time, or switch residences to accommodate a growing family, you'll be faced with an important decision: should you buy or rent your next home? If you are leaning towards renting, you may wish to reconsider. Here are six reasons why Arrowhead Title, Inc. thinks you may be better off buying a home of your own. 1. You Can Avoid Rising Rent Costs Rent costs have been steadily rising over the last several year, and experts expect that they will increase significantly again in 2016. If you get a fixed-rate mortgage, you don't ever have to worry about your payments increasing. Being able to count on your mortgage payment greatly reduces stress and makes it easier to plan your budget. 2. You Can Design Your Own Space As a renter, you are limited as to what you can do to your home. You have to get your landlord's approval before you can repaint, remodel, or perform

3 Reasons To Buy Your Home Before Spring

Punxsutawney Phil didn't see his shadow this year, which means that he's predicting an early spring. With the forecast continuously providing tantalizing glimpses of warm spring weather, spring fever is kicking in early for many people. Many homebuyers wait until spring is officially here to begin searching for a new home at the Lake of the Ozarks , which is precisely why you should tackle your home search before spring hits. Here are a couple reasons to consider buying your new home before the spring market arrives. #1 - Mortgage Rates Are On The Rise Interest rates recently rose for the first time in several years, and they are expected to continue rising in the near future. Even a small increase can have a significant impact. For example, let's imagine that you take out a fixed rate mortgage loan for $200,000 for a 30-year term. If your interest rate is 3.9%, the total cost of the mortgage will end up being $339,601. If your interest is 4.1%, the total cost of

What's Included In The Closing Costs?

When we talk about the costs of buying real estate at the Lake of the Ozarks , we talk about several different things. The home inspection, home appraisal, and earnest money are just a few examples. The other major expenses are lumped together in a broad category that is simply called "closing costs." It's important to recognize that the closing costs vary depending on your position in the transaction (whether or you are a buyer or a seller). Today, Arrowhead Title, Inc is here to explain the buyer's closing costs for you in simple, easy-to-understand terms. What Is Included In The Buyer's Closing Costs? The truth is that the closing costs encompass a wide variety of different fees and services. While the exact expenses will vary from transaction to transaction, there are many elements that are consistently included in these costs. Here is a quick overview of some of the common items that are typically included in the closing costs: Loan Origination