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. . . or you are an experienced home buyer, finding and financing your new home is a very exciting time. However, with a bit of preparation, you can help prevent the experience from becoming overwhelming or even disappointing. Before you start searching, the first question you'll want answered is . . .
You can find out the answer to this as well as enhance your buying power by getting Pre-Approved or Pre-Qualified. What's the difference?
Pre-Qualification is an informal discussion between you and the lender. The lender estimates the amount that you can borrow based solely on what you tell them about your income and assets. The information you give the lender is not verified by them and therefore, there is no guarantee that you will be approved by them for the loan amount. However, it will give you and your realtor a good idea of what your general price range probably is. Pre-Approval requires that the lender verify your financial information and serves as a commitment to lend a specified amount based on that verified information. This gives you significant buying power with a seller who recognizes that you will be approved for a loan. If a seller knows that your financing is secure, your offer is stronger.
Please contact me, and I will gladly refer you
to a top-notch mortgage broker to assist you with the pre-qualification
process.
To get an estimate of what your monthly mortgage payments would be based on sales price, down-payment, interest rate and term length, try our mortgage calculator ...
Choose the type of property, size, price range
and areas you're looking, and I'll send you an e-mail with area MLS
property listings that match your criteria. Everybody's -- not just
ours. You decide how often you'd like updates. You will have a
personalized online account where you can see pictures and learn more
about any of these properties.
Just click here ....
Here are some great articles from the AskAllenTate.com guide for buyers . . .
It used to be that when a realtor would work with a buyer, that buyer automatically assumed that the agent was working in his or her best interests. In the course of looking at homes together, agent and buyer would spend hours, weeks and sometimes even months working together, usually giving the buyer the impression that the agent was working solely one his or her behalf. In the course of all this time together, confidential information regarding the buyer's private finances, family matters and more would often be disclosed. The truth, however, was that until recently, the buyer rarely knew that, by law, the agent always automatically represents the SELLER in any transaction. Theoretically, the agent was obligated to share any useful information learned from the buyer to the SELLER and to negotiate in the SELLER'S best interests. But now, with the Buyer Agency relationship, an agent is required by law to disclose to a customer that he or she works for the SELLER, unless and until the buyer agrees to have that agent represent them. This can be a temporary oral agreement, if the buyer is not sure yet if they want to work exclusively with that agent. But once you are settled on which agent you'd like to work with, it is highly recommended that you and the agent sign a written buyer's representation agreement. In this contract, the agent agrees to represent ONLY your interests, and he or she is forbidden from disclosing any information about you to the seller or anyone else. An agent, also, is not allowed to submit an offer from a buyer without first having a signed Buyer Agency Agreement with them.
When you and I get together to look at homes for the first time or before we talk at length about your personal or financial situations, I am required to show you the brochure called Working With Real Estate Agents and make sure that you understand the buyer and seller agency relationships. After we've done that, you may choose one of three things: to sign a buyer agency agreement with me, to have a temporary oral agreement with me or to have no agreement. If you choose to have no agreement, I will ask you to please sign a part of the brochure acknowledging that I went over it with you and that you have chosen to decline any representation by me. To read the entire contents of the brochure, click here. If you would like to contact me for help with your buying needs, please feel free to call me directly at 704-307-3839. Or you can give me a little information about yourself by filling in and sending me the form below, and I'll get back to you promptly.
Cathy Burns |
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