Once you buy your home and the deed is recorded at the county courthouse in the public record, you are going to start getting some interesting mail. Some of it will be normal like from furniture stores or from house painters (I send my Northern Virginia real estate clients coupons from Lowes), but please read through any of these offers carefully before you jump.
- Copy of your Deed: If you get a letter offering to send you a copy of your Deed for a small fee, remember that the Title Company or lawyer who conducted your closing will be sending you the copy they get back from the courthouse. So, save the money and call the guys you have already paid.
- A Termite Warranty: If you get a letter offering a termite warranty, remember that a termite inspection was done prior to your closing. Pull out that inspection report because it may already include a one year warranty.
- Bi-Weekly Mortgage Plans: You will make an extra annual payment using this type of payment plan it will speed up your 30 year loan to just 22 years, but take a look at the initial set up fee (if any) or if there is a service charged per payment. To achieve the same effect, simply pay extra principle with your monthly payment. Divide your payment by twelve and add it to your payment…simple.
Okay, I may have missed a letter or two so feel free to give the heads up to another new home owner (leave a comment) since these offers are constantly changing.