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Questions of the day

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Questions of the day (from our YouTube playlist)

Do I have to be Present for Closing?

Aug 18, 2021
Puerto Rico law states that to close on a property, the selling and buyuing party must be physically present at closing to sign or must have a power of attorney (POA). This POA has to be notarized in PR for the specific property being purchased or would have to be done by an attorney in PR to send over to the get an Apostile filed in the state you are in. The person representing the selling party. would have to be physically present at the closing and bring the Original Power Of Attorney (POA).
#PuertoRico #RealEstate #BienesRaices #questionoftheday #POA

Why Get Prequalified?

May 19, 2021
Getting PreQualified/PreApproved allows you to shop with confidence and bid at your dream home. Shows your Real Estate Agent that you are serious about buying a home. In today's market, with multiple offers on properties puts you in a much better negotiating position.

Inspection VS. Appraiser

May 5, 2021
What is an Apprasial? An appraisal is the estimation of a home’s current market value, it can impact the amount that can be borrowed. A licensed appraiser uses several valuation methods, including comparable, home prices, the size and quality of the home, lot size, and more.. An appraisal is performed by a certified or licensed appraiser, is required and scheduled by a lender when a buyer needs a mortgage in order to purchase a home. What is an Inspection? A home inspector can reveal problems, research a property and acquire a written report that details its condition, including an assessment of necessary or recommended repairs, maintenance concerns, and any other potentially costly issues. The home inspector will assess the physical structure of the home, from the foundation to the roof, as well as the home's systems. Home inspections are used to provide an opportunity for a buyer to identify any major issues with a home prior to closing.
#PuertoRico #RealEstate #BienesRaices #Optioned #UnderContract

What is Earnest Money?

Apr 28, 2021
Earnest Money is put down before closing on a property made by a buyer to show commitment about purchasing and held in escrow.
#PuertoRico #RealEstate #BienesRaices #questionoftheday #PRRE

What is a FHA 203K Loan?

Apr 7, 2021
This loan in another mortgage alternative that is very friendly to first time home buyers, given to those who wish to buy a fixer upper. We can help you find the right lender for this loan type that will take great care of you too.

What is Owners Title Insurance?

Mar 24, 2021
When a property is bought or sold, a record of that transaction is usually filed in public archives. Events that may affect the ownership to this property like liens or zoning restrictions also get archived. This is part of a property’s title.

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