WHEN BUYING A HOME, THERE ARE A FEW THINGS TO CONSIDER:

 

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• What monthly payment can I afford?

• What am I looking for in a home?

• Should I work with a REALTOR®?

• How much cash do I need at closing?

• How do I obtain a mortgage loan?

 

Unless you are able to pay cash for your home, most buyers will need to go through the process of applying for a mortgage.  By contacting a mortgage loan specialist before you begin your search, you are able to determine the amount of loan for which you qualify. Typically, a borrower is pre-qualified for a loan that amounts to 28%, or less, of their gross monthly income.  In addition, if you know the amount of the monthly payment you would be comfortable paying, a mortgage specialist can calculate the price range for your home search. Getting pre-qualified for a loan also increases your chances of your offer being accepted.  A seller is more likely to accept an offer from a buyer who already has funding versus one who still needs to get a loan.  If you choose to use a REALTOR®, he or she can recommend one or more mortgage sources to you.  We work with numerous banks and mortgage companies and there are a lot of different loan programs. Don’t worry, Its not has hard as it sounds and takes less time than buying a car.

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By going through the pre-qualification process, your mortgage specialist can provide you with an estimate of how much cash you will need for the sales transaction.  Cash is needed for the down payment, earnest money, and closing costs of the transaction. You may even qualify for free down payment assistance.

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Make a List of Amenities

Decide what features are most important to you in a home.  By establishing your criteria, you will save time shopping for homes that do not meet your needs. Also, consider what locations you are interested in.  When making an amenities list, determine which criteria you absolutely cannot live without and which ones you are willing to budge on. Some typical criteria may include:

• Price range

• Neighborhood or subdivision

• School districts

• Proximity to work

• Proximity to shopping, restaurants, hospitals, etc.

• Number of Bedrooms

• Number of Bathrooms

• Storage space

• Garages

• Lot sizes

• Pools

 

Choose an Agent

Once you have decided on the price range and the features you are interested in, your next step will be to decide whether you will search on your own or use the services of a real estate agent.  If you choose to use an agent, make sure you enter into a Buyer’s Agency Agreement.  This ensures that the agent will represent you, as the buyer, in the selling process, and not represent the interests of the sellers.  Should you become interested in and want to make an offer on a property that is also listed for sale by your agent or by another agent who works at the same real estate brokerage, your agent should ask you to sign a Dual Agency Agreement.

Select a REALTOR® that you trust and with whom you feel comfortable working.

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Remember, there are no out-of-pocket fees that you pay to the buyer’s agent.  These costs are incurred by the seller.  Your agent will research property listings for potential matches to your criteria and schedule showings for you at a convenient time.  In addition, they will provide guidance to you during the contract negotiation phase of the selling process.  Many times, they will also coordinate and schedule the home inspection, appraisal, and closing for you, as well as provide you with referrals for mortgage lenders.

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A real estate transaction can be complex and time consuming, I highly recommend you retain the professional services of a REALTOR® to guide you through the process to ensure a successful outcome.
 

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Top 10 Reasons
I'm the Realtor for You!
 

1. I have 22 years of experience successfully buying and selling homes.

2. I know the neighborhoods, schools, market conditions, zoning regulations and local economy. I have lived, owned property and raised kids here.

3. I'll do the leg work, keeping you up-to-date with new listings and conditions as they impact the market.

4. I'm a full-time real estate agent - anything less and you'd be short changed.

5. I'll use my connections throughout the mortgage industry to get you the best deals possible.

6. You'll be my only client in the real estate transaction.

7. I'll guide you through the complexities of buying and/or selling a house, eliminating hassles and stress.

8. As a standard business practice I preview homes as they become available, keeping you apprised of market conditions as they evolve.

9. I won't waste your time - when an offer is made, I'll require acceptance or a counter offer within 24 to 48 hours.

10. You'll have the advantage of personal, one-on-one attention, as well as my dynamic web and e-mail resources.