Blog Kristi Jenkins May 15, 2024
An appraisal is an estimation of a property's value conducted by a licensed appraiser. Lenders typically require an appraisal to ensure that the property's value supports the loan amount.
Closing costs are fees and expenses incurred during the closing process of a real estate transaction. These may include loan origination fees, title insurance, attorney fees, and more.
The down payment is the initial payment made by the buyer toward the purchase price of a property. It is typically expressed as a percentage of the total purchase price, with higher down payments often resulting in better loan terms.
Escrow is a neutral third party that holds funds and documents during a real estate transaction until all conditions of the sale are met. This includes the transfer of title and disbursement of funds.
A fixed-rate mortgage is a type of mortgage loan with an interest rate that remains constant for the entire term of the loan. This provides borrowers with predictable monthly payments.
A home inspection is a thorough examination of a property's condition, typically conducted by a licensed home inspector. It assesses the structural integrity and safety of the property and identifies any potential issues or defects.
The Multiple Listing Service is a database used by real estate agents to share information about properties for sale. It provides comprehensive listings of available properties and facilitates cooperation among agents.
A pre-approval is a preliminary determination by a lender of how much a borrower can afford to borrow for a mortgage. It is based on factors such as credit history, income, and debt-to-income ratio.
Title insurance protects homeowners and lenders against financial loss due to defects in the title of a property. It ensures that the property's title is free and clear of any liens or encumbrances.
Zoning refers to regulations established by local governments that dictate how land can be used within specific geographic areas. Zoning laws typically designate areas for residential, commercial, industrial, or mixed-use purposes.
With a 20-year total of more than $100M in sales, her experience shines through. Whether she’s working with first-time home buyers or seasoned investors in a complex deal, Kristi walks through each stage of the home sale and makes sure you feel supported and understood.