Providing home loan mortgage financing in Lake, Geauga, Mahoning, Columbiana, Erie, Sandusky, Seneca, Wyandot, Putnam, Hancock, Ottowa, Fulton, Williams, Henry, Defiance, and many more Ohio counties.
Providing financing in Lucas, Cuyahoga, Lorain, Medina, Wood, Summit, Montgomery, Licking, Deleware, Warren, Hamilton, Butler, Franklin, Fairfield, Stark, Wayne, Knox and many other Ohio counties.
Providing home mortgages in Findlay, North Ridgeville, Highland Hills, Beachwood, Moreland Hills, Ashtabula, Rock Creek, Delaware, Franklin, Brunswick, Geauga, Grafton, Lorain, Green, Bath, Sandusky, Port Clinton, Huron and many other Ohio communities.
 
Providing mortgage financing in Cleveland, Cincinnati, Toledo, Bowling Green, Columbus, Akron, Canton, Avon, Strongsville, Avon Lake, Solon, Dayton, Medina, Wooster, Youngstown, Alliance, Mentor, Elyria and many other Ohio cities.

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Real Estate Terminology

Appraiser
A professional who has the knowledge and expertise necessary to estimate the value of real estate. Ideally, an appraiser acts independently of the buying and selling parties in a transaction in order to arrive at the fair value of the property, without bias.

Encumbrance
A claim or lien on a property by another party, such as a mortgage, tax lien, or judgement. Ownership interest cannot be transferred unless the encumbrance has been removed.

Chain of Title
Lists the transfers of title on a property over time. Most lenders will require a 2 year chain of title.

Conveyance
A written deed that transfers ownership of real estate from one person to another person.

Earnest Money
This is money deposited in good faith to show you are serious about the purchase of a home. A buyer will usually write a check with the signed and accepted offer to purchase a home.

Appreciation
An increase in the value of property.

Title Company
A company that provides a service to make sure a properties title is clear and that also provides title insurance for the borrower and lender.

Underwriting

The process a mortgage lender uses to examine a loan application to determine the amount of risk involved with a particular application; it includes but is not limited to a review of the borrowers credit history and an educated assumption on the ability to make there mortgage payment there is also an evaluation of the property value of the potential property.

Home Inspection
Normally conducted by a general contractor or certified home inspector.
The inspector evaluates the structural and physical integrity of a home. Generally checking the structure and foundation for signs of abnormal decay or breakdown and for signs of pest infestation and previous water or fire damage. They also check the mechanical systems of the house, such as age of heating, cooling, plumbing and electrical systems. Their main focus is on the safety of the home but will also make you aware of repairs or upgrades that are needed now or will be needed in the future.

Assesed Value
The dollar value assigned to a home for purposes of assessing real estate property taxes.

REALTORŪ
A real estate agent who is a member of the National Association of Realtors.

Escrow
A neutral and disinterested third party that acts as a settlement agent for real estate transactions in many states. Typically the escrow agent receives instructions from the parties to the transaction and makes sure that those instructions are carried out. Once all of the instructions have been completed the escrow is closed.


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