Episode 7 - Home Selling Part 2: From Contract to Close

Episode 7 (the one where The Rundown went long for good reason, and Michael changed Brad's name):

 

In The Rundown, Michael and Brad highlight the latest mortgage news and real estate market stats. Michael makes his next prediction for where interest rates are headed. So far batting a thousand! Brad reviews the last 7 days of real estate market activity and how the market is trending. Then we got into the newsy news from HUD about cutting the mortgage insurance premium (MIP) by 30 basis points.

 

In The Scoop, we finish up the home-selling process, this week focusing on once you get under contract, all the way through closing. As with our last two episodes on the home-buying process, it's beefy, so we split this one up as well (Episodes 6 and 7).

 

In this week's The Unreal, we talked about an article published on thebasispoint.com entitled, "Why Are People So Pissed About All Things Money & The Economy?" Apologies to anyone and everyone named Nancy for the "Negative Nancy" comment. We feel for you, and for Karens as well.

 

In The Spotlight we feature Jake's Grill, on Falls Rd in Cockeysville. You won't find them on Instagram, but their pit beef, turkey, ham, etc - it's all amazing! Check them out!

 

Episode Highlights

• What happened with mortgage applications over the past week? Does the word "splat" mean anything to you?
• HUD dropped the mortgage insurance premium by 30 basis points - will well-qualified buyers now pick FHA over a conventional loan?
• Did you know the type of loan a buyer gets is a Fair Housing protected class (under Source of Income protection)?
• Strange noises and the afterglow of getting under contract
• Sally Field is always misquoted - keep the buyer liking your home
• Michael and Brad are further away from high school than our high school days were from WWII - thanks for that, Michael!
• Make sure the buyer's deposit is actually deposited
• The due diligence phase
• For the love of Pete, don't be home during the home inspection
• Don't stack your stuff in front of the important stuff during the inspections (electrical panel, water heater, heating/cooling system, sewer line cleanout, etc.)
• No matter how well you maintain your home, the inspector(s) will always find something
• Chuck It or Truck It
• Too many people don't read the contract
• The moving day daisy chain
• The most amazing seller ever!
• Leave a place better than you found it
• Why you need to have licensed contractors make repairs
• The final walkthrough - did everything in the contract convey?
• Settlement day - attend or not?
• Avoiding bad juju
• Why are people so pissed about the economy, and do they really understand it?
• Have you met Fred? He's such a great guy.
• Jake's Grill has the best pit beef around!
• Next episode: our first guest! Randy Cottrell, Blue Crab Inspections, talking about the ins and outs of home inspections

Hosts

Michael Becker, Sierra Pacific Mortgage
NMLS #200085
[e-mail]
[phone] (m) / [phone] (office)

Brad Cox, The Vesta Group of Long & Foster Real Estate
MD Lic #652795
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