First, you should interview several loan officers (do you have a bank that you've dealt with over the years? Or a company credit union?) and they will be able to answer all these questions for you, specific to your financial situation and the area where you live (or plan to purchase). They'll also go over what maximum amount you qualify for (mortgage loan) and will go over approximate monthly payments.After you are comfortable with the financing and have a loan officer you would like to work with, then begin interviewing Realtors that you may want to work with. The first Realtor you speak with may be the one. Your Loan officer, Realtor and Insurance Agent will be able to answer all the questions you have relative to your specific situation. Just don't forget to ask them! Cindy
I'm a Broker in South Florida - if you're looking in South Florida, feel free to contact me and I'm happy to help. Cindy
I'm assuming you mean "Sellers' who aren't listed in the MLS. Check FSBO sites, maybe Craigs List and Zillow, Auction sites and Trulia etc. But personally I don't really see why the clients would think there is a bargain out there because it's not listed on the MLS. Usually, a For Sale By Owner is a For Sale By Owner because they aren't realistic about their home's value and are going to try to squeeze every last penny out of the house.
When you've finally decided on your "dream house" and you are ready to make an offer - what's next?Your REALTOR will assist you in preparing and submitting a signed real estate "offer to purchase" that includes the type of financing you desire, as well as any contingencies (which I'll go into tomorrow...) . This "offer" will be the sales contract once the seller accepts it. When you and the seller sign the offer, you both are agreeing to the contract conditions. Before you sign the offer, read it carefully and make sure you understand every detail in it. Ask questions of your REALTOR. Verbal agreements should always be WRITTEN into the contract. If you plan to have a lawyer represent or advise you, retain one as early as possible. More tomorrow on contingencies...
For Renter123 - Great idea! :) Ready to step into the home ownership game? There will never be a better time!
I pull this list out every year, as it's a good reminder. There are good reasons to go ahead and put your home on the market, rather than waiting until the "gray days" of January. So...Here are the Top 10 Reasons to List Your Home During the Holidays...1. People who look at property during the holidays are serious buyers and are more ready to make a decision.2. Serious buyers usually have fewer houses to choose from during the holidays, so the property has less competition.3. Houses “show better” when tastefully decorated for the holidays with the wonderful lights and festive colors associated with the season.4. Buyers are more emotional during the holidays and often base their decision on the warmth and good feelings they receive when viewing the home.5. Buyers have more time to look for a house during the holidays because they have designated time off from work to purchase a home.6. Many people want to buy before the end of the year for financial and tax reasons.7. January is traditionally the month for transfers. Transferees can’t wait until the spring to buy. These buyers need a home now and houses must be on the market to capture these buyers.8. Sellers can restrict showings during personal family events and still take advantage of their homes being spruced up and decorated “show ready” property.9. Sellers can sell now – but specify a delayed closing or extended occupancy until early next year if it is agreeable within the negotiations of the contract.10. By selling now sellers have the opportunity to buy during the spring – when more properties are on the market.
Didn't want to sound "flip" - my finger hit the wrong button and it submitted too fast - just so you know - I personally am only a 4 year agent. First 2.5 years were very good, but as you can find out easily sales in my particular area slowed down a bit this year. I have quite a few buyers as clients, but since credit has tightened up so much this year they may be 6 to 12 months out until it's the right time for them to actually buy. For a lot of reasons, sometimes it's best to wait, fix the credit etc. I've also spent quite a bit of time with sellers this year helping them to make the decision whether it's the right time to sell, or might it not be a better idea due to decreasing home values to refinance instead and wait. Sometimes that's the best option. It really depends on each family's or individual's personal situation. I try to look at what is best for the client. That is pretty important to me.
Actually, that doesn't surprise me if they were giving you stats from this past year. If you had their stats encompassing the past 4 you may have had a different outcome. I'm sure you'll agree that home sales have slowed quite a bit this past year. So you may have wanted to interview 15+ year agents
One reason a REALTOR is valuable - in an average person's lifetime, they may go through 3 or 4 real estate transactions. That is good experience. In a qualified REALTOR's first 2 years (not mentioning a 15 year + experienced agent) they may go through 20 transactions. Each transaction is a learning experience. We deal with required by law disclosure issues, lead paint issues and liabilities, polybutylane pipe issues, mold issues, asbestos, water in the basement, structural issues, well, septic, underground oil tanks, environmental issues, airport proximity, zoning, carbon monixide, trash fees on loans, etc. - these are all issues in addition to many more that can come back to bite the seller OR the buyer in the form of a lawsuit or cost to either party years after the settlement of the sale has occurred. We are tuned in, aware and look for these "red flags" because of our experience from previous transactions when representing a seller OR a buyer, and sometimes experience in going through these transactions, again and again, can save you a lot of headache in the future. But it's a choice, and either you want to use a REALTOR's past experience or not.
And yet again, my original point is, there is a certain market of "sellers' who bought several years ago who may have a home that is in a price range attractive to "first time homebuyers" and these sellers may want to move up to a mid market range home)- THEY are in the best position to sell and buy right now. There is a lot more available in the mid range that they may not have been able to afford a couple of years ago. Not speaking of the seller's market overall -as I'm not in the lucky group personally - but there are homeowners out there that are in that group, and should be aware of it.This information/opinion was intended to be constructive. Not destructive. Sorry if I offended anyone.Cindy (the big, bad, REALTOR) :)