Services
We can assist you in closing:
 Buying a house, land or commercial property
We can assist you in purchasing a home or business.
This page has the tools, information and
links that will most likely be of interest to you as a buyer. We will be
glad to assist you with your closing transaction. In the mean time and
until closing, you should work closely with your lender to make sure
that all of the lender underwriting requirements are met.
Steps in successfully
purchasing a new home or business.
- Find out your price range- You may
wish to obtain the services of a licensed real estate agent. Your
lender can also help. For starters check out the online brochure,
You Can Become a Homeowner. This brochure can provide
valuable information and has a calculator to
estimate your monthly
payment. Click on the tool for
How Much Can I
Afford to Borrow to get a general idea of your price range.
Naturally, your best resource is your lender once your financial
situation has been fully examined.
- House Hunting- You can start by
checking out sites online such as
www.realtor.com, or by
contacting one of the builders or realtors listed on our
Related Links
page. You may also wish to check out the public records and info in
County Assessor Page.
Remember that assessed value and appraised value are two
different things. The assessed value can be a bit lower than the sales
price, especially in an appreciating area or market. You and your
agent may wish to use
The House Hunter's Scorecard to intelligently compare the
features of different homes of interest.
You may be interested in buying a condominium.
If so check out the information contained in the article,
About the Title to your Condominium Home.
Once you or your agent have found the right
home, if you live in the State of Tennessee, the seller may be required
to provide you or your agent with a
Residential Property Condition Disclosure Form.
This form is designed to provide you with basic information about the
property. Your state may require a similar form to be provided. If your
state does not require such a form, you may still wish to use it as a
comprehensive list of questions to ask a seller before buying. If you
have any questions about the condition of the home, now is the time to
ask.
You may also wish to have a home inspector
thoroughly inspect to find other possible defects. If you have any
specific concerns about the home, you should consult with a professional
in the area of concern such as a contractor or engineer.
The next form to fill out is a contract for the
sale of the home. Again your real estate agent can provide valuable
assistance in choosing the appropriate form and in completing it for
you. Generally, the type of form used is dependent upon the type of loan
the you are seeking. In some cases an addendum is attached to correspond
with the particular type of loan you will seek. This form, if filled out
and signed by one party and presented to the other, is known as an
offer. It becomes a legally enforceable contract once all terms are
agreed to by all parties, once it is signed and once notice of its
execution is given to other party. The legal requirements for exactly
when the contract is enforceable may vary from state to state.
Most terms are freely negotiable between the
parties, but the lender, FHA, VA or FNMA may require certain terms to be
included, or may require the seller or buyer to pay certain fees. If you
have questions about the fees you may may be required to pay, you should
ask the lender before signing the contract.
For form Contracts click on the
Forms and choose one
which is most suitable to your needs.
Once you have reached an agreement and executed
a contract, send or fax it to us. We will take over from there. We will
accumulate all the necessary information, and prepare all the documents
required for a smooth closing.
 Selling a house, land or commercial property
We can assist you in selling a home or business.
This page has the tools, links and practical information that will most
likely be of interest to you as a seller. We will be glad to assist you
with your closing transaction.
Steps in successfully selling
your home or business
- Determine how much to ask for your
property- Your real estate agent can
help you evaluate the value by preparing a report of recent sales in
your area, so that you do not incur the expense of an appraisal. You
may also wish to check out the public records and info in
County Assessor Page.
Remember that assessed value and appraised value are two different
things. The assessed value can be a bit lower than the sales price,
especially in an appreciating area or market.
- Find a Buyer- Once again, you may wish
to use a licensed real estate agent to assist you. If you do, your
agent can help you with suggestions so that your house will show well.
You may also wish to look at the articles shown on our
Practical Information.
Please check out the article captioned
How to Help Sell Your Home.
- Disclosures to Buyer- Once you or your
agent have found a prospective buyer, if you live in the state of
Tennessee, you or your agent should provide to the buyer a
Property Condition Disclosure Form unless you, as seller, are
exempt from providing one. The most common exemption is if you haven't
lived in the property in the last 3 years. Your state may require a
similar form to be provided. This form is designed to provide a buyer
with basic information about the property. If you have any questions
you have any questions about filling out this form, you should consult
with a real estate agent or an attorney, but in general you should
give complete information, regardless as to whether you agree with it.
- Fill out a contract- The next form to
fill out is a contract for the sale of the home. Again your agent can
provide assistance in choosing the appropriate form and in completing
it. Generally the type of form used is dependent upon the type of loan
the buyer is seeking. In some cases the same form may be used so long
as an appropriate addendum is attached for the particular type of
loan. This form, if filled out and signed by one party and presented
to the other, is known as an offer. It becomes a legally enforceable
contract once all terms are agreed to by all parties, once it is
signed and once notice of its execution is given to other party. The
legal requirements for exactly when the contract is enforceable may
vary from state to state.
- **Most terms are freely negotiable between
the parties, but the lender, FHA, VA or FNMA may require certain
terms to be included, or may require the seller or buyer to pay
certain fees. If you have questions about the fees a seller may be
required to pay, you should ask the lender before signing the
contract.
- If you are paying off an FHA loan,
beware. Your lender will require interest for the full month
within which the payoff is received. If you are closing late in the
month and we will not be able to get your payoff out until the last
day of the month, the earliest that we can get the payoff to your
lender is the following day, a day in the next month following
closing triggering an increase in your payoff of extra full month of
interest. This interest would not have been charged if you would
close a few days earlier. Please call us if you have questions about
scheduling your closing with an FHA payoff involved.
For form Contracts click on the
Forms button and choose one which is most
suitable to you and your buyer's needs.
Once you have reached an agreement and executed
a contract, fax it to us at 901-751-1135. We will take over from there.
We will accumulate all the necessary information, and prepare all the
documents required for a smooth closing.
Refinancing/setting up a new mortgage
 We can assist you in closing on a
new mortgage loan or refinance. If you are buying a home with the
assistance of a new purchase money mortgage, you may wish to go to the
refer to the section about
buying a house, land or commercial property
with information about buying as well as borrowing.
This page has the tools, information and links
that will most likely be of interest to you as a borrower. We will be
glad to assist you with your closing transaction.
Much of the information you will need will be
available from your mortgage banker. He or she can provide you with a
good faith estimate of your closing costs and your payments and can also
discuss various types of loan programs and options available. If you
would like to use an estimator for your payment, check out our
Useful
Tools Page. Keep in mind that you are in
the best position to estimate the taxes and insurance since you have
probably been paying them. If you have general questions about the
transaction, check out our
Practical Information
Page for Online Brochures, or our
FAQ
Page for common questions.
In calculating the payoff of your existing loan,
please keep in mind that many lenders, when asked to give payoff
information, will quote you the principal balance only.
This means that it will not include interest which will have accrued
since the last payment date. A common misconception is that if you make
your payment, you have paid interest for the whole month, but actually
you have only paid through the due date. (For example,
when you make the July 1 payment, you are paying the interest which
accrued during the month of June.)
With a consumer refinance transaction there will
a three day waiting period within which you can cancel the transaction
known as the rescission period. This waiting period cannot be waived.
That means that if you are borrowing to get cash out from your equity,
you should not expect a check until the fourth business day following
closing.
If you are paying off an FHA loan, beware.
Your lender will require interest for the full month within which the
payoff is received. If you are closing late in the month and your loan
does not come out of the rescission period until the last day of the
month, the earliest that we can get the payoff to your lender is the
next month following closing and an extra full month of interest would
fall due. This interest would not have been charged if you would close a
few days earlier. Please call us if you have questions about scheduling
your closing with an FHA payoff involved.
Closing on a
Construction/Lot Loan
 We can assist you in closing on a
construction or a lot loan. This page has the tools, information and links
that will most likely be of interest to you as a borrower. We will be
glad to assist you with your closing transaction.
With a Construction Loan closing in Tennessee, a
Certificate of Non-Commencement is required. This is ordered following
the recording of the Mortgage Trust Deed by a certified land surveyor.
The Certificate of Non-Commencement shows whether or not there has been
any work done on the land. Tennessee requires that this is provided to
insure lenders that they are in first lien position.
We are flexible to work with all lenders for
Builder/individual financing for lots and construction loans. Our office is able to create loan documents for Construction/Lot Loan closings
for local banks.
Much of the information you will need will be
available from your banker. He or she can provide you with a
the lender charges associated with your closing. If you have general questions about the
transaction, check out our
Practical Information
Page for Online Brochures, or our
FAQ
Page for common questions.
Construction to Permanent Financing
 We can assist you in closing on a
Construction to Permanent loan. This type of financing is used when you are buying a
lot and you are financing the construction cost associated with building
your house. You will have a
"One-Time Closing." This means that you will only pay one set of closing
cost up front at the first closing. When the house is complete you will
only have to pay to setup your escrow account.
This page has the tools, information and links
that will most likely be of interest to you as a borrower. We will be
glad to assist you with your closing transaction.
Much of the information you will need will be
available from your mortgage banker. He or she can provide you with a
good faith estimate of your closing costs and your payments and can also
discuss various types of loan programs and options available. If you
would like to use an estimator for your payment, check out our
Useful
Tools Page. If you have general questions about the
transaction, check out our
Practical Information
Page for Online Brochures, or our
FAQ
Page for common questions.
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