This first time home buyer flowchart helps to demystify the home buying process. From establishing affordability, to credit scores, down payment information, and the proper documents you need. You might notice this is from another lender, but the information is the same for all lenders and for soon to be home buyers.If you have any questions at all give me a call.
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Should you buy a home through the seller's agent?
With home prices on the rise and for-sale homes in short supply in some markets, it's no wonder home buyers are looking for an edge. Some think that making an offer through the seller's agent, rather than their own buyer's agent, will save them money and provide an advantage amongst multiple offers. The answer isn't exactly clear since there are both pros and cons to purchasing a home through the seller's agent. Reduced commission? Maybe. Some listing agents will indeed give the seller a break on their commission if there is no buyer's agent, but that's not automatic. Rather, it's solely up to the agent to decide. Some listing agents -- not all, but some -- will offer a discount to the seller if they find their own buyer. In that case, a seller might say, 'I have these (two offers) and one is from my listing agent and one is from a buyer's agent, so instantly, I save maybe 1 percent. That does happen. Sometimes, not all the time. Most agents unde
Home Buying Basics: 7 terms every homebuyer should know.
As with everything else about real estate, sales contracts or purchase agreements vary from state to state -- and even by real estate company in some places. Variations in regulations place even greater emphasis on working with professionals with local knowledge. While the terms used may change from place to place, there are seven common terms that are particularly important for you to understand. 1. Buyer cost sheet. Technically, this sheet is not part of the purchase contract, but it's still important. A property purchase agreement can range from a few pages to a dozen or more, depending on your location and the complexity of the transaction. Buyers need to focus closely on the buyer cost sheet, sometimes called "cash to close." The buyer cost sheet -- typically generated by your lender but sometimes given to you by a Realtor -- should include everything you will be responsible for paying when you buy a home. Items included on a buyer cost sheet may include: Insp
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