The Real Estate Store Services
The Real Estate Store is your one-stop resource for complete real estate services.
The Real Estate Store is your one-stop resource for complete real estate services. We offer the ability to search the multiple listing database through our website, mortgage loan processing, and credit assistance. We partner with the Metropolitan Resource Information Systems Company, multiple mortgage lenders, and numerous title companies to provide our clients with the most affordable deal.
Metropolitan Regional Information Systems Company
A regional multiple database listing resource with over 40,00 customers in Maryland, Virginia, Pennsylvania, West Virginia, Delaware and the District of Columbia. MRIS facilitates the sale of over $100 million on a daily basis and operates the nation's largest online real estate network for licensed agents, brokers and appraisers.
Mortgage Lending Institutions
The mortgage lender's responsibility is to assist the buyer in completing and processing the mortgage loan application. The buyer must supply:
Employers' names and addresses for the past two years
Financial institutions' names, addresses and account numbers for asset verification and all debts (installment and revolving)
Residency addresses for the past two years an offer to purchase
Next, the lender reviews the credit report and verifies the borrower's debt and payment histories as VOEs and VODs are returned. If there are any late payments, collections or judgments shown on the credit report, a written explanation is required from the borrower. The lender also reviews the appraisal and checks to see if there are any property issues that may require additional comment by the appraiser. Any required repairs on the property are reported by the real estate agent and borrower/seller.
The title companies responsibility is to facilitate the closing transactions. The closing represents the final step in the mortgage application process. An attorney will do a title search on the property, prepare the legal documents necessary for the closing of the loan, and provide you and/or your attorney with the exact closing costs. At the closing, the borrower obtains his or her loan proceeds and presents a certified check to cover the balance of the down payment and the closing costs. The loan closes. The borrower moves into the new home.