We had a great Bi-level home on our inventory that slid perfectly into a Streamline 203K loan.  It was exactly what this couple was looking for in their home.

The house is almost 1800 square feet with a 2 car garage, 3 bedrooms, 2 full baths, large eat in kitchen, living room, dining area and family room with a coal stove.  Actually, the home was bigger than what they expected to be able to afford but it came in under their budget and that is one of the biggest advantages to these foreclosure projects. Sarah helped them secure a contract on the house for approximately $54,000 and the renovation costs were $29,950.

As with every client, there was no surprise with the final cost of the home because we presented them with the estimate before they even contracted the house, which was backed up with an independent inspection.  Barbara walked them through the financing process every step of the way and even helped clear up misinformation she discovered that would have harmed them if she had not found and corrected it.  As always, Barbara went above and beyond what any other mortgage professional would have because her focus is the client, and what is best for them.

Sarah handled all the real estate items and paperwork, which can be overwhelming if the buyer doesn’t have the quality of representation provided by PFP.  There is a mountain of paperwork and legalities and inspections that have to be attended to and Sarah handles all of it.  This afforded the client the confidence to go on with their life in anticipation of that beautiful new home while Sarah worked hard making the entire transaction as seamless as possible.

As the closing neared, Chris at Homestead Land Services began to assemble the necessary documentation and paperwork to close on the house.  Chris actually represents the client’s interests on all transactions so they know they are in great hands with Homestead!  As with any closing these days, there were last minute adjustments needed and time schedules to be accommodated but Chris performed the closing at the client’s convenience.

Once the closing was done, the real anticipation sets in for the client…. their home is just a few weeks away!  With this project, we were on a 30 day turn around as the client was out of the country for the month.  Northeastern went in and ripped out the old and renovated with new, beautiful finishes the client chose themselves, truly making this a “custom home!” New floors… new windows… new baths… new granite!!

Our client has returned from their trip and they are ecstatic with their home.  Another happy couple who got an incredible deal turning a foreclosure into a dream come true!

Did you know that Title Insurance is required if you are buying a home using any type of mortgage?

Title polices are good forever and you only need to pay for them once as an owner, making title policy insurance the best insurance you’ll ever buy! If you refinance, the bank may require a new loan policy.  Let’s say that one more time… you pay for it once as part of your closing costs and your home is protected for as long as you own it.  Think about it…. what other insurance do you only have to pay for once??

Title searches start with the most recent deed.  We search the grantee’s name (the person now holding title) backwards in time to the deed when the grantee acquired the property.  That grantor’s name is then searched backwards in time to find when the grantor acquired title as the grantee.  This process continues and over time, the property description involves larger and larger parcels of land.  Eventually, our searchers find the purchase from the King James II of England to William Penn.

At Homestead Land Services our mission is to make the closing process as stress-free as possible.  We want you to have a positive experience because purchasing a home should be a good memory.