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Thursday, December 13, 2018   /   by Shaun Radcliffe

What is a Lien?

Brittney: Hi, Brittney with Radcliffe and Associates, Coldwell Banker, Global Luxury. And today, I'm here with my friend Emily, from Lawyers Title, and we're going to be going over the different types of liens that may be associated with your property. Emily…
Emily: Thank you very much. So, a lien is a legal claim against your property. There are several different types of liens. An example of a few would be like a mechanic's lien, or a child support lien. Kind of how this whole comes about is if a contractor did work on your property, and you didn't pay him for that work then he attaches a lien to your property. So, anytime you're looking to sell that property, you would have to pay that debt off in order to close the transaction. Basically, it's pretty simple steps. You pay the debt, then you fill out a lien release form and then you file it, get it notarized and then we can continue to move forward with the transaction. So, it's the same thing with a child support lien. ...

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Monday, December 10, 2018   /   by Shaun Radcliffe

What is a Renovation Purchase Loan?

Shaun : Hi, Shaun Radcliffe with Radcliffe & Associates, Global Luxury, Coldwell Banker, and I’m here today with Glenn Hemry from LoanDepot. We’re going to speak today about a renovation purchase loan.
So, Glenn, what is a renovation purchase loan?
Glenn : So, a renovation purchase loan is a great program where you can add in the improvements of the property, maybe some things that you want to do to the home when you purchase it, you add those into your loan.
Shaun : Okay, and so, what type of items can be improved when I purchase this property?
Glenn : Items you can include are, it could be as little as paint and carpet. It could be remodeling a bathroom or kitchen, maybe updating a bathroom or kitchen, or we’ve even gone as far as adding a second story on a home.
Shaun : Oh, wow. And is this only for conventional loans?
Glenn : No, actually, this can be FHA, conventional and we also have a VA renovation program, as well.
Shaun : Oh, interesting. And ...

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Thursday, December 6, 2018   /   by Shaun Radcliffe

Mainline Sewer Repair

Shaun: Hi, Shaun Radcliffe with Radcliffe and Associates Coldwell Banker, Global Luxury.
And I'm standing here today with Dave Turner from Done-Rite Plumbing and we wanted to speak about one of our past clients that actually needed a mainline sewer repair. So, Dave, tell us about what happened and why you did this new efficient way instead of doing the old way of digging up the mainline.
- Dave: Well, a lot of times, Shaun, the old way, we'd have to dig up and we can only reach the property edge without getting special permits from the city or the county that can be really costly and expensive as well as digging in the street with all the asphalt repairs and things like that.
- Shaun: Okay, so, what was the find on this mainline sewer break?
- Dave: Well, as you can see, you can have big holes in the pipe. A lot of times we see sections where it's cracked, moved over, offset and we're worried about the movement of the pipe.
- Shaun: Right.
- Dave: We're able to put a fiberg ...

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Wednesday, November 28, 2018   /   by Shaun Radcliffe

What is PMI?

Shaun: Hi, Shaun Radcliffe with Radcliffe and Associates at Coldwell Banker, Global Luxury. And I'm here today with Glenn Hemry from the Hemry LaSalla Group at LoanDepot. And we wanted to talk about what is PMI?
Glenn: So, yeah that's a great question. We get that one all the time. So, PMI is Private Mortgage Insurance and that's something that, you know, we're not putting 20% down, 20% of the purchase price. This is something that we have to deal with at some level for the customer.
Shaun: And so, what would be a benefit to the borrower? Why would they incur PMI?
Glenn: So, benefit of...there's only really one benefit to PMI and that allows our clients to purchase a home without actually having 20% down.
Shaun: Okay!
Glenn: Once they're able to put 20% down then we can remove, you know, then they don't have to deal with that mortgage insurance.
Shaun: Okay and then so, what's a neg ...

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Monday, November 12, 2018   /   by Shaun Radcliffe

Water Heater Maintenance

Shaun : Hi, Shaun Radcliffe with Radcliffe & Associates, Coldwell Banker, Global Luxury. Today, I’m here with Dave Turner from Done-Rite Plumbing, and we wanted to talk about water heaters and water heater maintenance. So, today Dave, take a look at this water heater and can you tell us what the age of the water heater is?
Dave : So, if you look here on the bottom of the sticker right here, it gives you the build date of 2/2/2006, making this water heater about twelve and a half years old.
Shaun : And what is the lifespan of a water heater?
Dave : Typically, about twelve years. OK, ten to twelve.
Shaun : And how else could we make a water heater last longer than ten to twelve years, or maximize the amount of time?
Dave : So, a lot of times, we do preventative maintenance once a year for our customers, and we include that when we install a water heater; your first year’s maintenance is included with that. One of the biggest things you can do is flushing t ...

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