Life insurance > Understanding Real Estate Terminology

Understanding Real Estate Terminology

Purchasing a home can be a complicated and confusing process, especially for first-time buyers.
Throughout the process, first-time home buyers will encounter a variety of unfamiliar real state terms. There are several key terms associates with purchasing real estate that are helpful to learn.For example, many buyers confuse the terms broker and salesperson.
A broker is a properly licensed individual, or corporation, who serves as a special agent in the purchase and sale of real estate, a salesperson is an individual employed or associated by written agreement by the broker as an independent contractor.
The salesperson facilitates the purchase or sale of real estate.Once you decide to purchase, a salesperson will prepare a sales contract to present to the seller along with your earnest money deposit.

The sales contract is the document through which the seller agrees to give possession and title of property to the buyer upon full payment of the purchase price and performance of agreed-upon conditions.
The earnest money is a buyer's partial payment, as a show of good faith, to make the contract binding.
Often, the earnest money is held in an escrow account.
Escrow is the process by which money is held by a disinterested party until the terms of the escrow instructions are fulfilled. After the buyer and seller have signed the contract, the buyer must obtain a mortgage note by presenting the contract to a mortgage lender.

The note is the buyer's promise to pay the purchase price of the real estate in addition to a stated interest rate over a specified period of time.
A mortgage lender places a lien on the property, or mortgage, and this secures the mortgage note. The buyer pays interest money to the lender exchange for the use of money borrowed.
Interest is usually referred to as APR or annual percentage rate.
Interest is paid on the principle, the capital sum the buyer owes.

Interest payments may be disguised in the form of points.
Points are an up-front cost which may be paid by either the buyer or seller or both in conventional loans.In general, there are two types of conventional loans that a buyer can obtain.
A fixed rate loan has the same rate of interest for the life of the loan, usually 14 to 30 years. An adjustable rate loan or adjustable rate mortgage (ARM) provides a discounted initial rate, which changes after a set period of time.
The rate can't exceed the interest rate cap or ceiling allowed on such loans for any one adjustment period.

Some ARMs have a lifetime cap on interest.
The buyer makes the loan and interest payments to the lender through amortization, the systematic payment and retirement of debt over a set period of time. Once the contract has been signed and a mortgage note obtained, the buyer and seller must legally close the real estate transaction.
The closing is a meeting where the buyer, seller and their attorneys review, sign and exchange the final documents.
At the closing, the buyer receives the appraisal report, an estimate of the property's value with the appraiser's signature, certification and sporting documents.

The buyer also receives the title and the deed.
The title shows evidence of the buyer's ownership of the property while the deed legally transfers the title from the seller to the buyer.
The final document the buyer receives at closing is a title insurance policy, insurance against the loss of the title if it's found to be imperfect.Buyers should plan on at least four to twelve weeks for a typical real estate transaction.
The process is difficult and at times, intimidating.
A general understanding of real estate terminology and chronology of the transaction, however, will help any real estate novice to confidently buy his or her first home..

W. Troy Swezey is the author of ?UNDERSTANDING REAL ESTATE TERMINOLOGY."
As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, ?REAL ESTATE SECRETS EXPOSED.? http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net

Does Work/Life Balance Really Exist?

Copyright 2006 Donna Gunter

If you look at almost any issue of nationally published women's magazines, you'll find article upon article trying to convince the American public (and American women) that you can have it all -- a brilliant career/business and a marvelous family life -- and then follow with instructions on how you can accomplish this easily.

I am just not buying into this train of thought.
In order for most successful business people to get where they want to be in their businesses, something has to go.
For me, it's been a personal life.
As a single woman of 40 with no children and no significant other on the horizon, I've got much more flexibility than most.
I can make a conscious decision to forego some aspect of my life on a shorter-term basis to reach my goals.

Most of us aren't quite that lucky, however.
You have children you have to get dressed and to school each day, or a spouse who needs...

Does Work/Life Balance Really Exist?

Life insurance > Does Work/Life Balance Really Exist?

OnlineBenefits to Acquire Captiva Systems, Inc.

OnlineBenefits to Acquire Captiva Systems, Inc.Deal adds agency management systems to broker product lineUniondale, NY (May 18, 2004) ? OnlineBenefits, Inc., provider of Internet-based HR solutions, announced that it has signed a Letter of Intent to acquire Captiva Systems, a producer of agency management software for group insurance brokers. The deal brings Captiva Systems' software products into OnlineBenefits' suite of solutions targeted at the nation's extensive network of health and welfare insurance brokers. Captiva's flagship product, CommissionsDue, tracks insurance commissions and has been adopted by over 1,000 brokers. AgencyWare is a comprehensive client management system designed specifically for the needs of benefit brokers. It is currently being beta tested with several brokers and will be released this summer.OnlineBenefits will integrate AgencyWare with its existing successful Advisor Tools and Client Community products.

The resulting application will be a centralized...

OnlineBenefits to Acquire Captiva Systems, Inc.

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Evergreen Systems Releases White Paper on Building the Business Case for ITIL

Sterling, VA (ContentDesk via ContentDesk Direct) July 19, 2006 -- Evergreen Systems today announced that it has released a new white paper exploring how to build the business case for ITIL and other IT process improvements.
CEO, Don Casson, began exploration of the topic in June, via a techwebcast that was sponsored jointly by Hewlet-Packard and InformationWeek. Building the business case for ITIL has also been a source of discussion on Evergreens blog site, after Evergreen Vice President of Consulting, Joe Koester, began a four-part series on it. The white paper references a number of data points taken from current research and enterprise IT process improvement case studies consistently documenting a 20-40% reduction in the effort required for ongoing IT operations, powered by the implementation of ITIL process improvements.
The same research clearly links ITIL with strategic gains in customer service quality, accuracy...

Evergreen Systems Releases White Paper on Building the Business Case for ITIL

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Felten and Associates Chooses Cathy Sherry, CSA to Help Establish Their Local Stuart, Florida Office

(ContentDesk) August 24, 2005 -- Felten & Associates has expanded operations to establish an office in Stuart, Florida and has chosen Cathy Sherry, CSA to help establish their local Stuart, Florida office. "We have long standing relationships with clients in Stuart," remarked, Ken Felten, President.
"Our business has grown in Stuart to the point where we needed to establish an office that was local to that community.
We are most pleased and excited to have Ms. Sherry on board.

She has a resume filled with accomplishments in sales and marketing and the professional designations that our clients are seeking."Sherry is a Certified Senior Advisor, a Certified TEEM Member; TEEM is a network of financial professionals referred to as the Equity Enhancement Matrix (TEEM); and is licensed to sell life, health care and annuities.Sherry may be contacted at Felten & Associates, 850 North West Federal Highway, Stuart, FL 34994 (772) 403-5822. Felten and Associates is a 52...

Felten and Associates Chooses Cathy Sherry, CSA to Help Establish Their Local Stuart, Florida Office

Life insurance > Felten and Associates Chooses Cathy Sherry, CSA to Help Establish Their Local Stuart, Florida Office

What if...You Could Have it All? 6 Steps to Living Your Best Life

What if?you could have it all? 6 Steps to Living your Best LifeSimply put, people want more out of life. The 80's were a time of wanting more money, the 90's more time and now it is more fulfillment. Statistics Canada (Sept., 2004) reported "only 32.6% of Canadians surveyed report being very satisfied with life" So, how does one achieve fulfillment while also juggling the responsibilities and demands of life; career, family, health, money, relationships, community, recreation and personal growth? This is a very important question as life is an integrated whole with each area interdependent on the other. As more people begin to understand that the true measure of success is the attainment of life balance, they may also gain awareness that true life balance means including everything you want in life, or having it all. The 6 keys to living your best life are:1. Design your Ideal LifeDare to imagine new possibilities?.what do you really want? If you were to eliminate the ?shoulds' and start...

What if...You Could Have it All? 6 Steps to Living Your Best Life

Life insurance > What if...You Could Have it All? 6 Steps to Living Your Best Life

Employers Committed to Control Health Insurance Costs (E.C.C.H.I.C.) to Hold Seminar in Wichita

Employers Committed to Control Health Insurance Costs (ECCHIC), a network of insurance brokers and employers committed to stabilizing medical benefit costs through proactive and creative cost management methods, will present two free seminars on Health Insurance Cost Management in Wichita on Thursday, March 11, and Friday, March 12. The seminars will be held at 10:30 a.m. at The Olive Tree Bistro, 2949 N. Rock Road. Lunch will be provided.

Small business owners and individuals with health insurance concerns are invited to attend this informative seminar.Health insurance benefits are the fastest growing cost center for employers today. At the same time, these costs are also often the least evaluated, managed, analyzed and understood by employers. Often, employers know the total cost of co-pays and premiums but not the amount actually spent on health care, which could potentially be quite a bit less than is spent on pre-paying for health care through insurance companies. At the...

Employers Committed to Control Health Insurance Costs (E.C.C.H.I.C.) to Hold Seminar in Wichita

Life insurance > Employers Committed to Control Health Insurance Costs (E.C.C.H.I.C.) to Hold Seminar in Wichita