ADVICE FOR HOMEBUYERS

Don't be overwhelmed by the real estate advice provided below. This is simply a general overview of the home buying process and is provided for your convenience. Remember, I am here to personally assist you every step of the way to handle the little details that will make the process exciting and worry-free.

How Much Can I Afford?
Don'ts for the Home Buyer
Tips for First Time Home Buyers
Common Closing Costs
Do I Really Need to Use a Real Estate Agent?
Services I Can Provide
Steps to Selecting the Right Property
Buyer 24-Month Investment Protection Program

Should You Hire a REALTOR?
Everything You Need to Know About Hiring a Buyer's Agent
Buyer Broker Agreements
Buyer Agent Compensation & Disclosures
Real Estate Agent Commissions

How Much Can I Afford?

Use my simple calculator to get a rough idea.

Don'ts for the Home Buyer

Don't wait for the perfect house. Compromising & prioritizing are essential elements of the buying process Don't buy before comparison shopping - especially if you-re new to the area Don't write an unrealistic offer or you will simply be helping someone else's offer look better Don't low-ball a property that's new to the market Don't think all real estate agents and companies are created equal. Find a Realtor who's passionate about what they do and works to ensure your best interest in the deal - not theirs! Don't work with more than one agent. Find one you like and stick with them! Don't wait for the perfect time to buy. The best time to buy is when you can comfortably afford it Don't get too many people involved in your buying decision. Many transactions are lost while you're busy soliciting other people for their opinions. Act quickly to get the property you desire. Don't wait until you find a home to start looking into mortgage loans. Being prepared with a mortgage pre-approval will give you the upper hand to submit a solid offer by letting sellers know you are very serious.

Tips for First Time Home Buyers:

Get pre-approved by a local lender Have the necessary funds available to write an initial earnest money check If you are receiving a "gift letter" for a portion of your down payment, be sure to have the money transferred into your savings account Have the remaining money for your down payment easily accessible Pay balances on revolving credit cards Never make a big purchase (such as a car or new furniture) prior to getting loan approval and closing on your new home

Common Closing Costs:

Down payment Loan Origination fee and points Appraisal fee Credit report Flood letter Private Mortgage Insurance (PMI) premium Home Owners Insurance premium Mortgage Insurance escrow Property taxes escrow Closing fees Recording fees Mortgage Title policy Mortgage interest adjustment Survey Owner's Title policy Termite inspection and building inspection fee Tax servicing fee Lender inspection fee Federal Express / Courier fees (if needed)

Do I Really Need to Use a Real Estate Agent or REALTOR®

Do you have time to research the residential housing market? Do you have the knowledge to integrate and understand the information available to you? Can you integrate the information available on the real estate Internet sites into useful data/intel that can help you accomplish your goal? Do you have the expertise to negotiate the best price and terms on your own? Do you have a reputable home inspector, structural engineer, roofing and sewer line contractor? Do you have the time to research the home loan programs available in the market? Do you have the time to interview reputable mortgage loan officers? Do you have the time and expertise to target market, if necessary, for the type of property you are looking for? Do you know the zoning regulations and building codes pertaining to residential real estate in the area you are interested in? Understanding Zillow, RedFin, realtor.com, remax.com and a thousand other real estate websites make it easier than ever to FIND a property. That's the easiest part of real estate. My three-year old nieces and nephews can navigate these websites on an iPhone or iPad and press buttons to connect with an agent, but your home shopping journey is only about to begin!

Services I Can Provide:

Work with you to find properties that meet your specific requirements such as location, price and amenities Arrange for appointments and show you the properties you select Provide you with information regarding the price and value of properties (reverse market analysis) Provide in-depth knowledge of the current real estate market and how it relates to your purchase Negotiate the best possible price and terms Prepare an iron-clad purchase offer that's likely to be accepted Refer you to professional service providers, such as: home inspectors, legal services, mortgage services, title services, etc. ...and 100+ other things that no other Realtor is prepared to do to ensure the best possible outcome for you!

Steps to Selecting the Right Property

Approach the home buying process objectively - there is no perfect home; the good ones sell quickly; Don't second guess yourself After viewing each property, ask yourself: what did you like about it? What, if anything would you want/need to change? Could you see yourself owning the property if the price was right? As part of my commitment to transparency and looking out for your best interests, I've been know to talk a buyer out of writing an offer. Wondering why I would ever do that? Contact Anthony Rael and I'll be happy to give many examples.

How Much Home Can You Afford?
While I strongly encourage clients to shopping for a mortgage loan with at least two companies before signing anything, it's absolutely essential that you do more than simply compare "rates" because predatory lending is at an all-time high and you don't want to find yourself falling for a "bait-and-switch" loan program because it will cost you big-time down the road!

If you don't know who to trust, call me at 303-520-3179 and I will put you in touch with a local & reputable mortgage loan officer who will make sure you get the best loan package possible without all the gimmicks or high-pressure.

 

Get Pre-Qualified for a Home Loan Today!
Preferred Local Mortgage Lenders

 Union Home Mortgage - Tiffany Swisher @ 303.884.4137
  Home Mortgage Advisors - Deana Hollstein @ 303.818.0522
  Nexa Mortgage - Lainie Chambers @ 720.495.2788

FIND YOUR DREAM HOME NOW!
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