BUYING OR SELLING
A HOME OR PROPERTY?
Home, Commercial or Ranch Land
Home, Commercial or Ranch Land
Specializing in turning customers into neighbors!
There are still some wide open spaces out there and we can help you find them.
Need assistance finding a location for your business?
We can help.
Let us help you find your dream home, starter home
or step home, just let us know what your looking for.
Round Mountain Land is a family owned business established in 1989 by Richard W. and Pavela James. The name was chosen because the Santa Fe Trail goes through the family ranch in northeastern New Mexico. A mountain on the ranch was called Round Mound on the Trail so they decided to use Round Mountain. Later their son Ryan joined the company.
First look at you home to see what updates are needed to you home. Carpet, paint, light fixtures, and plumbing fixtures. Do a deep clean on your home. Manicure your yard. During summer have your yard green
Price in very important when selling your home. The first 30 days is the best time marketing time for your home. If you home is priced to high you will loose a lot of potential buyers. We can do a market analysts on your home to see that it is priced correctly.
Conventional loans and FHA loans are the most used loans. Conventional loans usually have a larger down payment, higher qualifying ratios, and higher credit scores. FHA loans have lower down payments, lower qualifying ratio, and lower credit scores.
Title insurance policy. Title companies do a search of the history of your title. They look for liens that have been filed but not released. Searches are done to be sure taxes are paid. They also look for deeds and liens that were not filed correctly. After your closing, if issues arise the title company will defend the title.
A correct market analysis will compare other properties in you neighboorhood that have sold, expired, and currently active. Comparisons are made for year build, size of home, and lot sizes. Additional consideration maybe be given for garage size, pools, and updated completed.
Sellers may want to get inspection done before they list their home so they can make repairs before listing. Seller can share inspections with prospective buyers.
Lenders look at your gross monthly income and expenses to determine you ratios. Expenses used are car, house, credit cards, and personal loan payment. Conventional loans ratio used are 28/36. FHA loans are 29/41. Your house payment should not be over 28 and 29 percent of your income. Your total bills including new house payment should not exceed 36 or 41 per cent depending on your loan.
MIP Insurance and PMI Insurance is required by lenders on a loan above 80%. If there is a foreclosure, this insurance will pay the loan down to 80%
On conventional loans this insurance is not required when the balance reaches 80%
Lenders usually do not require inspections. On FHA some may require a terminate inspection. As a buyer you may want to get a home inspection on the property before you buy.
Buyers can buy warranties on the property. Warranties are usually for a year. They can include plumbing, central heat and air, electrical and appliances.
You payment will include principal, interest, taxes and insurance. If you do not pay 20% down you will also have a monthly MIP, or PMI insurance payment. MIP monthly insurance pr
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