Relocating 2 Oahu

What to keep in your files after closing

1.  The Real Estate Settlement Procedures Act (RESPA) statement.  This form,
sometimes called a HUD 1 statement, itemizes all the costs associated with
the closing.  You'll need this for income tax purposes and when you sell the
home.

2.  The Truth in Lending Statement summarizes the terms of your mortgage
loan.

3.  The mortgage and the note (two pieces of paper) spell out the legal
terms of your mortgage obligation and the agreed-upon repayment terms.

4.  The deed transfers ownership of the property to you.

5.  Affidavits swearing to various statements by either party.  For example,
the sellers will often sign an affidavit stating that they have not incurred
any liens on the property.

6.  Riders are amendments to the sales contract that affect your rights.
For example, if you buy a condominium, you may have a rider outline the
condo association's rules and restrictions.

7.  Insurance policies provide a record and proof of your coverage.




Reprinted from REALTOR Magazine Online by permission of the NATIONAL
ASSOCIATION OF REALTORS  Copyright 2005.  All rights reserved.
www.REALTOR.org/realtormag

What not to overlook in a Final Walk through

Once you buy, it is important to be sure that: *   Repairs you've requested have been made.  Obtain copies of paid bills and any related warranties. *   All items that were included in the sale price-draperies, lighting fixtures-are still there. *   Screens and storm windows are in place or stored. *   All appliances are operating. *   Intercom, doorbell, and alarm are operational. *   Hot water heater is working. *   HVAC (Heating, Ventilation, and Air Conditioning) is working. *   No plants or shrubs have been removed from the yard, *   Garage door opener and other remotes are available. *   Instruction books and warranties on appliances and fixtures are there. *   All personal items of the sellers and all debris have been removed. Reprinted from REALTOR Magazine Online by Permission of the NATIONAL ASSOCIATION OF REALTORS  Copyright 2005.  All rights reserved.       www.REALTOR.org/realtormag

Hold a yard sale to get rid of items you don't want to move and make a few dollars to help with the move! 1.  Check with your city government to see if you need a permit or license. 2.  See if neighbors want to participate and have a "block" sale to attract more visitors. 3.  Advertise.  Put an ad in free classified papers, and put up signs and balloons at major intersections and in stores near your home. 4.  Price items ahead and attach prices with removable stickers.  Remember, yard sales are supposed to be bargains, so don't try to sell anything of significant value this way. 5.  Check items before the sale to be sure you haven't included something you want by mistake. 6.  Keep pets away from the sale. 7.  Display everything neatly and individually so customers don't have to dig through boxes. 8.  Have an electrical outlet so buyers can test appliances. 9.  Have plenty of bags and newspaper for wrapping fragile items. 10. Get enough change, and keep a close eye on your cash. Reprinted from REALTOR Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS  copyright 2005.  All rights reserved.       www.REALTOR.org/realtormag

Common Closing Costs for Buyers

The lender must disclose a Good Faith Estimate of all settlement costs.  A check to cover your closing costs will probably have to be a cashier's check.  The title company or other entity conducting the closing will tell you the requires amount for:

1.  Down payment
2.  Loan origination fees
3.  Points, or loan discount fees, you pay to receive a lower interest rate

Tips for packing like a pro

1.  Develop a master "to do" list so you won't forget something critical. 2.  Sort and get rid of things you no longer want or need,  Have a garage sale, donate to a good charity, or recycle. 3.  Don't throw out everything.  If your inclination is to just toss it, ask yourself how frequently you use an item and how you'd feel if you no longer had it. 4.  Pack like items together.  Put toys with toys, kitchen utensils with Kitchen utensils. 5.  Decide what, if anything, you plan to move yourself.  Precious items, such as family photos, valuable breakables, or must-haves during the move, should probably stay with you. 6.  Use the right box for the item.  Loose items encourage breakage. 7.  Put heavy items in small boxes so they're easier to lift.  Keep weight under 50 lbs. if possible. 8.  Don't over-pack boxes and increase the chances they will break. 9.  Wrap every fragile item separately and pad bottom and sides of boxes. 10. Label every box on all sides.  You never know how they'll be stacked and you don't want to have to move other boxes aside to find out what's there. 11. Use color-coded labels to indicate which room each item should go in. Color code a floor plan for your new house to help movers. 12. Keep your moving documents together, including phone numbers, driver's name, and van number.  Also keep your address book handy. 13. Back up your computer files before moving your computer. 14. Inspect each box and all furniture for damage as soon as it arrives. 15. Remember, most movers won't take plants. Reprinted from REALTOR Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS Copyright 2005.  All right reserved.        www.REALTOR.org/realtormag

The pros and cons of Condos and Townhomes

Condominiums and townhomes offer an affordable option to single-family homes in most areas.  But consider these facts before you buy.        1.  Storage.  Some condos have storage lockers, but usually there are no attics or basements to store belongings, of course most houses in Hawaii do not wither, but may have more other storage room than condos or townhomes.        2.  Outdoor space.  Yards and outdoor areas are usuallt smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit.  However, if you hate yard work, this may be the perfect option for you.        3.  Amenities.  Many condo properties have swimming pools, fitness centers, and other facilities that would be very expensive in a single-family home.        4.  Maintenance.  Many condos have onsite maintenance personnel to care for common areas, do repairs in your unit, and let in workers when you're not home.        5.  Security.  Many condos have keyed entries and or even door attendants.  Plus, you'll be closer to other people in casr of an emergency.        6.  Reserve funds and association fees.  Although fees generally help pay for amenities and provide savings for future repairs, you will have to pay the fees agreed to by the condo board, whether or not you're interested in the amenity or not.  However, many association fees include expenses you would have in a home anyway, such as water, sewer, home insurance, etc.        7.  Resale.  The ease of selling your unit is more dependent on what else is for sale in your building, since units are usually fairly similar. Single-family homes usually are more individual.        8.  Freedom.  Although you have a vote, the rules of the condo association can affect your ability to use your property.  For example, some condos profivit home-based businesses.  Others prohibit pets.  Read the covenants, restrictions, and bylaws of the condo carefully before you make an offer.        9.  Proximity.  You're much closer to your neighbors in a condo or townhome.  If possible, try to meet your closest prospective neighbors before making a decision.