The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

Terms To Know ........................................................................................................ 03

The Benefits of Buying ............................................................................................. 04

Home Qualifications ................................................................................................. 05

Property Comparison Report ................................................................................... 06

Texas is a Homestead State .................................................................................... 07

Steps to Closing ....................................................................................................... 08

Post Closing Information .......................................................................................... 09

Buyer’s Checklist ...................................................................................................... 10

Mover’s Checklist ..................................................................................................... 11

AMENDMENTS: A change — either to alter, add to, or correct — part of an agreement without changing the principle idea or essence.

APPRAISAL: An estimate of value of property resulting from analysis of facts about the property; an opinion of value.

ASSUMPTION: Taking over another person’s financial obligation; taking title to a parcel of real property with the Buyer assuming liability for paying an existing note secured by a deed of trust against the real property.

BENEFICIARY: The recipient of benefits, often from a deed of trust; usually the lender.

CLOSE OF ESCROW: Generally the date the documents are recorded and title passes from Seller to Buyer. On this date, the Buyer becomes the legal owner, and title insurance becomes effective.

COMPARABLE SALES: Sales that have similar characteristics as the subject real property, used for analysis in the appraisal. Commonly called “comps.”

DEED OF TRUST: An instrument used in many states in place of a mortgage.

DEED RESTRICTIONS: Limitations in the deed to a parcel of real property that dictate certain uses that may or may not be made of real property.

EARNEST MONEY DEPOSIT: Down payment made by a purchaser of real property as evidence of good faith; a deposit or partial payment.

EASEMENT: A right, privilege or interest limited to a specific purpose that one party has in the land of another.

HAZARD INSURANCE: Real estate insurance protecting against fire, some natural causes, vandalism, etc., depending upon the policy. Buyer often adds liability insurance and extended coverage for personal property.

IMPOUNDS: A trust type account established by lenders for the accumulation of borrower’s funds to meet periodic payments of taxes, mortgage insurance premiums and/or future insurance policy premiums, required to protect their security.

LEGAL DESCRIPTION: A description of land recognized by law, based on government surveys, spelling out the exact boundaries of the entire parcel of land. It should so thoroughly identify a parcel of land that it cannot be confused with any other.

LIEN: A form of encumbrance that usually makes a specific parcel of real property the security for the payment of a debt or discharge of an obligation. For example, judgments, taxes, mortgages, deeds of trust.

PITI: A payment that combines Principal, Interest, Taxes, and Insurance.

POWER OF ATTORNEY: A written instrument whereby a principal gives authority to an agent. The agent acting under such a grant is sometimes called an “Attorney-in-Fact.”

PURCHASE AGREEMENT: The purchase contract between the Buyer and Seller. It is usually completed by the real estate agent and signed by the Buyer and Seller.

QUITCLAIM DEED: A deed operating as a release, intending to pass any title, interest, or claim which the grantor may have in the property, but not containing any warranty of a valid interest or title by the grantor.

RECORDING: Filing documents affecting real property with the County Recorder as a matter of public record.

WARRANTY DEED: A written instrument by which a party transfers ownership of real property to another.

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

Not sure if you should buy a home? The rent you pay could build equity in your own real estate. Do you realize how much you pay in rent over a period of years? The chart below gives you a total picture of what is happening to your

money. The rent you pay adds up to a sizeable sum.

RENT 5 YEARS 10 YEARS 15 YEARS 20 YEARS 25 YEARS 30 YEARS

$1,000.00 $60,000.00 $120,000.00 $180,000.00 $240,000.00 $300,000.00 $360,000.00

$1,200.00 $72,000.00 $144,000.00 $216,000.00 $288,000.00 $360,000.00 $432,000.00

$1,400.00 $84,000.00 $168,000.00 $252,000.00 $336,000.00 $420,000.00 $504,000.00

$1,600.00 $96,000.00 $192,000.00 $288,000.00 $384,000.00 $480,000.00 $576,000.00

$1,800.00 $108,000.00 $216,000.00 $324,000.00 $432,000.00 $540,000.00 $648,000.00

$2,000.00 $120,000.00 $240,000.00 $360,000.00 $480,000.00 $600,000.00 $720,000.00

$2,200.00 $132,000.00 $264,000.00 $396,000.00 $528,000.00 $660,000.00 $792,000.00

$2,400.00 $144,000.00 $288,000.00 $432,000.00 $576,000.00 $720,000.00 $864,000.00

$2,600.00 $156,000.00 $312,000.00 $468,000.00 $624,000.00 $780,000.00 $936,000.00

$2,800.00 $168,000.00 $336,000.00 $504,000.00 $672,000.00 $840,000.00 $1,008,000.00

$3,000.00 $180,000.00 $360,000.00 $540,000.00 $720,000.00 $900,000.00 $1,080,000.00

RENT No interest payment deductions Rental amount may increase at any time Landlord approval needed for any changes No capitalization; your money disappears forever Rental is temporary and is often subject to 30 day’s notice

BUY Excellent deductions for your mortgage interest paid Stable housing costs Decorate and make changes, without prior approval The value of your property will probably increase in time Your house will become a home, not a temporary living

situation; you are not at the mercy of a landlord

When you buy your house and pay your monthly mortgage, you can gradually accumulate what lenders call equity. Equity is an ownership interest in the property that you can convert into cash by borrowing against it or by

selling your house. As a renter, you lose the opportunity to build equity.

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

1. Price home we’re looking for...

2. The home style we prefer is…

3. Age of house we’re looking for is…

4. Type of exterior we prefer is…

5. Some major features we’re looking for…

6. The location we prefer is…

7. Some features we’d like in our location…

8. The Type of financing we prefer…

9. Our current residence is…___________________________

________________________________________________________________________________________________________________________________________________________________________________________

$50,000 or under $300,000 - $350,000

$50,000 - $75,000 $350,000 - $400,000

$75,000 - $100,000 $400,000 - $450,000

$100,000 - $150,000 $450,000 - $500,000

$150,000 - $200,000 $550,000 - $600,000

$200,000 - $250,000 $600,000 - $_______

One Story One and a Half Story

Two Story Patio Home

Townhome Condo

Contemporary French

Colonial Traditional

Victorian Old English

New Home 1 - 5 years

6 - 10 years 11 - 15 years

16 - 20 years 21 - 25 years

over 25 years no preference

Brick Stone

Vinyl Wood

Aluminum Other: ____________

# Baths # Bedrooms

# Fireplaces Formal Dining

Eat-In Kitchen Pool

Garage Wet Bar

Hot Tub Family Room

Study Other: __________

City Suburban Rural

Specific Locations:

Schools Church

Synagogue Shopping

Park Other: ____________

Conventional VA

Adjustable Rate FHA

Owner Finance Assumable Mortgage

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

ADDRESS:

Price

Location

Curb Appeal

Neighborhood

Lot Size

Driveway

Yard/Landscaping

Bedrooms

Bathrooms

Kitchen

Appliances

Storage

Garage

Deck / Patio

Pool / Hot Tub

Heat / AC

Taxes

School

Condition

Personal Property

Energy Efficiency

Room Sizes

Layout

Quality

“Personality”

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

DEFINITION: House, Condominium, Townhouse, Permanently Installed Mobile Home

URBAN: The homestead of a family or a single, adult person, not otherwise entitled to a homestead shall consist of not more than TEN ACRES of land which may be in one or more contiguous lots, together with any improvements thereon.

RURAL: For a family - not more than 200 acres which may be in one or more parcels, with the improvements thereon. For a single adult person - not otherwise entitled to a homestead, not more than 100 acres, which may be in one or more parcels, with the improvements thereon.

IF A HOMESTEAD IS CONSIDERED TO BE RURAL - at the time of designation, the property is not served by municipal utilities and fire and police protection.

PURPOSE: The Texas Homestead Law was created for the primary purpose of securing for a family or a single adult person, not otherwise entitled to a homestead, a place for a home, shelter and the earning of a livelihood from the claims of all creditors EXCEPT THE HOLDERS OF LIENS FOR PURCHASE MONEY, TAXES AND HOME IMPROVEMENT LOANS. No other liens are valid including payments for federal taxes, owelty liens, home equity loans and reverse mortgages.

HOW YOU DECLARE A HOMESTEAD: Upon the purchase of a new home, you must contact the appraisal district of the county in which you reside and request that they mail you the necessary forms for “Declaring Your Homestead”. You must be the owner on January 1 of the year you are claiming the Homestead Exemption. You must provide a copy of your driver’s license or state-issued identification card and a copy of your vehicle registration receipt. The addresses on those documents must match the address of the home on which the exemption is being sought. Those without vehicles must submit a notarized affidavit certifying that and must present a copy of a current utility bill with the same address.

ABANDONMENT OF A HOMESTEAD: If a homestead claimant is married, a homestead cannot be abandoned without the consent of the claimant’s spouse. When the parties purchase a new homestead, it is generally clear that an abandonment has occurred. A new homestead must be acquired to abandon the former homestead.

PRETENDED SALE AND LEASE OF HOMESTEAD PROPERTY: Any sale of homestead property that is less than the appraised fair market value wherein the buyer of the property executes a lease of the property to the seller at lease payments exceeding fair rental value of property is considered to be a loan with all payments made from the seller to the buyer in excess of the sales price considered to be interest subject of the usury statute as found in Article 5069.01 et seq.

Such a transaction is also considered a deceptive trade practice. An exception to this rule applies to the sale of a family homestead to a parent, step-parent, grandparent, child, step-child, brother, half-brother, sister, half-sister, or grandchild of an adult member of the family. Title insurance is not available on any sale and leaseback of homestead property.

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

TITLE POLICY You will receive your Owner’s Title Policy within 90 days from the settlement date. If you do not receive this, please contact us immediately. KEEP THIS FOR YOUR RECORDS! Remember your policy is good for as long as you own the property and continue to warrant your title after you sell.

ORIGINAL DEED The County Clerk’s office in which your property is located will forward the original deed after recordation. KEEP THIS FOR YOUR RECORDS!

ADDITIONAL COPIES Please make sure to keep your documents in a safe place along with the survey used at closing. In the event you refinance or want to move to a new house you will need these documents to expedite your closing. Your closer gives all these documents to you at the closing.

HOME WARRANTY Your home warranty provider is:

Telephone #

Conf.#

Your brochure and a copy of the invoice and confirmation are given at closing.

APPRAISAL REPORT

If your lender did not furnish you with a copy of your appraisal at closing, please contact them in writing or by telephone directly.

Most appraisals are only kept on file for 90 days!

HOMESTEAD EXEMPTIONS Please contact the appraisal district directly to obtain information on applying for the exemption. The numbers are provided to you below and most of the applications may be downloaded and filed online. If you live in two separate counties, you MUST file in both counties.

APPRAISAL DISTRICTS Atascosa County www.atascosacad.com Bandera County www.banderaproptax.org Bastrop County www.bastropcad.org Bexar County www.bcad.org Blanco County www.blancocad.com Brazoria County www.brazoriacad.org Burnet County www.burnet-cad.org Caldwell County www.caldwellcad.org Collin County www.collincad.org Comal County www.comalcad.org Dallas County www.dallascad.org Denton County www.dentoncad.com Ellis County www.elliscad.com Fayette County www.fayettecad.org Fort Bend Central www.fbcad.org Galveston County www.galvestoncad.org Guadalupe County www.guadalupead.org Harris County www.hcad.org Hays County www.hayscad.com Hunt County www.hunt-cad.org Johnson County www.johnsoncad.com Kaufman County www.kaufman-cad.org Kendall County www.kendallad.org Llano Central www.llanocad.com Medina County www.medinacountytx.org Montgomery Central www.mcad-tx.org Parker County www.parkercad.org Rockwall County www.rockwallcad.com Tarrant County www.tad.org Travis County www.traviscad.org Williamson County www.wcad.org Wilson County www.wilson-cad.org Wise County www.isouthwestdata.com

COUPON BOOKLETS Your first payment letter is in the set of documents given to you at closing. Please contact your lender if you have not received a coupon book within 30 days.

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

Provide a fully executed Contract of Sale to Capital Title with the earnest money check. Provide a copy of the Contract of Sale to the mortgage company making your loan which has been receipted by Capital Title. Call your loan officer and arrange to make formal loan application. If doing inspections of the home, schedule the appointment with the inspector and seller as soon as possible. (A termite inspection is required on VA loans). Any bills to be paid at closing must be provided at least one week prior to closing. Contact an insurance company to obtain homeowner’s insurance. Supply information to Capital Title at least one week prior to closing.

Driver’s license or other photo identification. A cashier’s check or wired funds (often called “good funds”) is required for payment of funds over $1500.00 at the time of closing made payable to Capital Title. Bring any required document(s) to closing that your lender has requested you to produce at the closing table.

If you want to review your loan documents prior to the closing, please request that your mortgage company provide the documents to Capital Title at least three day prior to closing so copies can be provided for your review. If you will not be present at closing to sign documents and intend to use a Power of Attorney, the following must occur: Capital Title and your lender must approve the POA prior to closing. The original POA must be delivered to Capital Title before closing for recording with the County Clerk’s

office. We must make contact with you via telephone on the day of closing to be certain you are alive and well and

have not revoked the POA.

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

REQUIRED AT CLOSING:

PRIOR TO CLOSING:

AVOIDING CLOSING DELAYS:

□ Make arrangements to hire a mover or rent a truck.□ Make babysitting and/or pet care arrangements for moving day.□ File a change of address form at the post office.□ Change address on all newspaper and magazine subscriptions.□ Arrange for the transfer of all medical, dental and school records.□ Transfer medical, property, fire and auto insurance.□ Organize all move-related documents in one place, such as a folder or binder.

□ Cancel or transfer all utilities (water, gas, electric, telephone, TV/cable/satellite/Internet service).□ Check with your provider about cell phone service in your new location.□ Transfer prescriptions to a pharmacy near your new location.□ Transfer bank accounts.□ Collect or purchase all packing supplies; boxes, wrapping paper, bubble wrap, labels, markers, box cutters or

scissors and packing tape.□ Pack up items in garage, attic and storage areas.□ Confirm arrangements with movers or truck rental place.

□ Begin packing boxes, labeling each as you fill it.□ Empty, defrost and clean refrigerator, freezer and stove.□ Return all rented movies, library books, video games, etc.□ Pick up anything outstanding such as dry cleaning, prescriptions, etc.

□ Do a final check of closets, cabinets and drawers.□ Make sure you have enough cash on hand for the move.□ Take out all trash.□ Fully charge all cell phones.□ Touch base with movers or truck rental place for a final confirmation of arrangements.

□ Exchange contact information with the movers in case you need to get in touch with them while in route. Include

your old/new address, cell phone number and directions to new location.□ Keep jewelry and other valuables with you, in a box that you move yourself.□ Prepare a box of supplies that you will need right away on move-in day, such as cleaning supplies, snacks &

beverages, toilet, bath and bedding items, trash bags, disposable dishes, pet food, cell phone chargers,prescriptions, eyeglasses, changes of clothing, etc..

□ Do a final check before locking the doors. Confirm that you have turned off the furnace/air conditioner, lawnsprinklers, and light switches. Have you turned over or left the keys and garage door openers?

The information contained herein is obtained from outside parties and Capital Title makes no claim as to its accuracy.

One Month Before the Move

Two Weeks Before the Move

One Week Before the Move

The Day Before the Move

The Day Of the Move

Preparation and organization are key in determining wheth-

er or not your move will be stress-free. Follow the steps

below to ensure that yours will be smooth.