Anne Erwin Sotheby's International Realty Resources

Accountants

Appraisals

An appraisal is an unbiased estimate of what a buyer might expect to pay - or a seller receive - for a parcel of real estate, where both buyer and seller are informed parties. This is what is typically expected by a bank. The fee for an appraisal can vary but is likely to be somewhere between $275 and $500. If you have a preference for a particular appraiser, be sure to consult with your lender.

A market analysis, usually free of charge, is available from a real estate agent. It provides much the same information but does not meet bank requirements. It is, however, often satisfactory for estate purposes. Other uses might be financial or divorce planning.

Names of some local appraisers are provided below in alphabetical order.

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Architects/Designers

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Attorneys and Title Companies

General Information

Through the course of the real estate transaction, you may need or choose to consult an attorney regarding contingencies or other issues regarding the sale or purchase of your home or land.

While the real estate purchase and sale agreements are fill-in-the-blank forms supplied to us by the Maine Association of Realtors, some questions may arise. We are not attorneys and we encourage you to consult one if you choose.

Often both buyers and sellers will ask us if they need to have their attorney attend the closing. This is purely a matter of preference. Typically attorneys do not attend, but we certainly would never discourage you from having your attorney present.

Seller Responsibilities

Sellers are responsible for having the deed and transfer tax form prepared prior to closing. The cost for this is between $100 to $150. This should be done so that there is enough time for the closing agent (either an attorney or title company) to review the deed on behalf of the buyer and/or bank.

Buyer Responsibilities

It is the buyer's lender or the buyer's attorney who is responsible for doing the closing, title search, recording of the deed and mortgage note and other paperwork. If you are financing the property, the lender usually chooses the attorney or title company but if you have a preference as to who will do the work, you should let the lender know. If it is someone on their approved list, then you should be able to make those arrangements.

Title Insurance

If you are financing the property you will be required to have title insurance in an amount to cover the amount financed. You may be asked if you would like to have title insurance to cover your own risk. The cost for title insurance (which is based on the purchase price) is far less if purchased at the time of closing and it is a one-time expense. What a wonderful way to protect what is more than likely your most important asset. For more information about owner's title insurance you may want to check with the closing agent or visit About Title Insurance.

Below is contact information for some local attorneys and title companies that can assist you.

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Banks & Mortgage Brokers

What is the difference between a bank and a mortgage broker?

Mortgage brokers are companies (or individuals) that work with wholesale mortgage lenders to provide their customers with a wide selection of mortgages. The mortgage broker originates the loans while the mortgage lender actually funds the loans.

A bank on the other hand may not offer the same selection of products but may be able to offer more flexibility within its products. You may like the idea of having your loan held locally or perhaps you have already established a relationship with a particular bank and just want to keep all your business in one place.

Which should I use?

The answer will depend upon your individual loan needs, situation and inclination. If you are not sure which lender to use, you should speak to several, explaining your particular situation. Find out what type of program each thinks will work best for you; then compare.

Basement Waterproofing

Many people have had great success with basement waterproofing. Check with the company and make sure that they guarantee the work and that the warranty they provide is transferable to future owners.

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Builders/Contractors

Caretakers

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Chimney Inspection/Cleaning

The State of Maine now requires that homes with chimneys have a Level II inspection done according to NFPA Standard #211. A Level II inspection is a comprehensive inspection including all accessible portions of the chimney, exterior and interior. It includes areas within accessible attics, crawl spaces, and basements and accessible portions of appliance and chimney connections and shall include inspection by video scanning or other means of inspection.

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Electricians

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Environmental Testing & Mitigation (Radon, Mold, etc.)

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Handymen

Do you have some work that needs to be done?

One of these handymen (in alphabetical order) may be just what you need.

Hauling & Trash Removal

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Home Inspection Services for Real Estate

Anne Erwin Sotheby's International Realty encourages all buyers to have a home inspection whether the house is new or old. The purpose of the home inspection is not to discover small imperfections since no house (even a new one) is perfect. The real purpose of the inspection is to make sure that there are no significant surprises.

You will find below the names of a number of area home inspectors with whom we have had some experience. All are members of ASHI (American Society of Home Inspectors). To learn more about ASHI, we encourage you to visit their website (www.ashi.com); to learn more about the home inspection process, visit www.ashi.org/customers/vhi_tour.asp.

It is important to note that Anne Erwin Sotheby's International Realty has no affiliation with and receives no compensation from any of these companies. The list is in alphabetical order. We hope this information will be helpful in making your transaction a smooth one.

Contact Information:

Please note that some companies will give you an on-the-spot report while others are able to email you the report (usually within 24 hours). If speed is important or if you are an out-of-town buyer, you should consider how you will get the inspection report. Those companies who can email the report can (with your permission) also email a copy to your real estate agent which may expedite matters.

When you schedule your appointment be sure to be clear about the specific inspections that you want. Some of the possibilities are:

Some inspections (particularly septic) may require a separate inspection service. Click on any of the additional inspection items above for a selection of contractors who can perform these inspections.

If you need any additional names, numbers or services, please contact your agent at Anne Erwin Sotheby's International Realty.

House Cleaners

For cleaning offices, rental properties, construction clean-out & real estate closings:

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Insurance (Homeowners)

What is homeowners insurance?

According to the Insurance Information Institute:

Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

© Insurance Information Institute, Inc. - ALL RIGHTS RESERVED

There are some issues that can make insurance difficult to obtain such as having fuses instead of circuit breakers. For a list of these items, talk to an insurance agent.

It is important not to wait till the last minute to begin investigating your insurance needs. When you close on your new home, the lender will require that you have a proof of insurance (paid in full) for one year (a binder).

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Interior Designers/Staging

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Lawn Care/Gardeners

Masons

Moving Companies

Truck Rentals

Storage

Furniture Disposal (Sell & Give Away)

Notary Publics

Painters and Power Washers

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Pest Inspectors

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Plumbers

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Roofing

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Septic Inspection Companies

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Surveying/Soils Testing

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Utilities

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