Detroit Real Estate

What is a closing? Canton real estate terms. Closing is the meeting between the buyer, seller, title company and lender or their agents where the property and funds legally change hand, also called settlement. Closing costs usually include the origination fee, discount points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, credit report charge and other costs assessed at settlement. The cost of closing are usually about 3 percent to 6 percent of the mortgage amount.

A title company is usually the paymaster in a closing.  

For more information on Canton Real Estate terms, or if you are interested in buying a Canton home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com

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What does balloon payment mean? Canton real estate terms. Balloon payment is the final lump sum paid at the maturity date of a balloon mortgage.

When the balloon payment becomes due, you must either refinance or have the cash to pay it off.  

For more information on Canton Real Estate terms, or if you are interested in buying a Canton home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com

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What does appraisal mean? Canton real estate terms. Appraisal is an estimate of the value of property, made by a qualified professional called an "appraiser".

The biggest thing about an appraisal is that is just one mans opinion. It is very hard to find an appraiser any more because the banks hire their own appraisers. Your choice when selling a home is to accept the appraised value or get the buy to come up with more money, or not to sell the home.  

For more information on Canton Real Estate terms, or if you are interested in selling a Canton home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com

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What does acceleration mean? Canton real estate terms. Acceleration is the right of the mortgagee, or lender, to demand the immediate repayment of the mortgage loan balance upon the default of the mortgagor, or borrower, or by using the right vested in the Due on Sale Clause.

Simply put if you have a mortgage on a property you cannot do a land contract on the home because the bank will foreclose on you.

For more information on Canton Real Estate terms, or if you are interested in buying a Canton home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com

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Check list to help your child move - Canton home sellers tips

Parents many times do not think about their children when they have to move for job or financial reasons.  But for a child a move can be very traumatic or emotional.  It is the fear of the unknown.  What will my new school be like?  Will I ever see my good friend Nathan again?  Will I be able to go to dance class anymore?   Use these tips to help your child adjust to the move

• Before you put that for sign up in the yard talk with your child about any feelings, questions or concerns he or she may have about the move.  Then continue to talk to them throughout the process.
• Make a checklist of important items your child will need immediately.  Put them in one box.  Put them in your car and take them with you personally.  It will be better than waiting for the movers to find the box.
• When packing separate some of your child items that they can play with and keep occupied while you are unpacking.  You don't want them to be bored when you are the busiest.  It would just add to your stress.  So have a few electronic toys, books, crayons, and things to do for the first few days.
• Put together a box of your child's important items and possessions that can be opened immediately when you arrive at your new home.
• Ask your child if they would like to help you pack a box of their personal items.  That gives them a sense of control over the move.
• Give your child things to do list.  You want your child to feel involved in the move. Even if it is as simple as bringing their own belongings.  Important:   DON'T RELY ON THEM TO DO IT.  FOLLOW UP AND MAKE SURE IT IS DONE.  Nothing is worse than something left behind.  You will be starting off on a bad foot if you don't turn around and get it.  So be sure to have a check list of your child's belongings.
• After you move take your child and introduce them to the neighbors and the kids in the neighborhood.  Take a walk around your new neighborhood to show them the area and the local parks.

When selling your Canton home it can be very stressful to you and your children.  By making your child's move easier will make your move easier.  I hope these Canton home selling tips helped you!

If you are looking at selling your Canton home, please give me a call or email me at yesmyrealtor@gmail.com

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