Q: Do I need a home inspection?
A: Yes, a home inspection protects you from a sea of possible problems that are absolutely unidentifiable on a more cursory inspection done by a buyer. A professional home inspection costs a bit of money but in the end costs far less than buying a home with major structural issues you did not know. These issues can run the gamut from problems with water leakage, to mold and wood rot, as well as issues with septic systems and oil tanks. Once a home inspection is done, you can choose not to go through with that home purchase if you and the seller cannot come to agreement on mutually acceptable terms. In many cases, negotiations on issues found in the inspection are done between both the buyers and the sellers’ attorneys and a solution is found to satisfy both parties.
Q: What is title insurance and do I need it?
A: Title insurance protects owners against liens and judgments as well as easements and other losses of titles that can occur due to negligence, errors or even fraud and yes, you need title insurance in any case where you will have a mortgage.
Q: Do I need a property survey done?
A: Yes, a property survey is needed to map out the exact location of your property and any improvements located on this. It will show the location of easements and setbacks which can affect the use of your potential property.
Q: What is the normal time frame to close on a property?
A: The time frame for closing varies, but can take several months depending on the property, whether it is commercial or residential, whether there are issues that come up in the inspection that need to be negotiated, whether there are issues in the current appraisal and more. We will work on your behalf to make the process as swift as possible.
Q: Does my check for closing need to be certified?
A: Yes, all closings required certified or bank checks.
Q: How do I know if I should foreclose or short sell my property?
A: There are risks associated with both a foreclosure and a short sale. To protect our clients, we will represent you from beginning to end of the process to help you determine which path is the best choice for you. Since both a foreclosure and a short sale will have negative impacts on your credit score, we will help you to choose the best possible option based on your individual situation.
Q: How long does it take to get a loan modification?
A: The time varies, and can take months and even up to a year to obtain a modification. Since the inception of the HAMP program, too few homeowners have taken advantage of the program for various reasons including attempts by lenders to not be flexible in helping borrowers, and homeowners not knowing how to navigate the complex rules and qualifications. By using competent Mesa real estate lawyers with Wayne Gardner, you are availing yourself of an expert who has been down this road and will help make the process as expedient for you as possible.
Q: What if I am rejected for a modification?
A: We will do our best to determine your qualifications for a modification before it is submitted, and will help to show you the potential program you can qualify for. There are many types of modifications and by following the initial checklist of qualifying points, once an application is submitted, we should be able to help you get approved.
Wayne Gardner Law
Mesa, AZ 85203