Buyer Basics

Buyer Basics

The idea of purchasing a home can be a daunting task for even the most seasoned homebuyers. You will probably have a ton a questions such as:
How much can I afford?
What will my interest rate be?
How much will my monthly investment be (montly payment)?
Will I need to make an initial investment (downpayment)?
That's why you need an experienced Real Estate Professional to ensure that your investment is a sound one.

My Buyer Services:

1. Your home needs and wishes will be first and foremost.
2.  You will be immediately notified of new properties on the market that meet your search criteria.
3. You will have all of the facts necessary on the properties.
4. Your financing will be arranged for you, if needed.
5. Your transaction will be negotiated for the best deal.
6. Your Appraisal Fee or Home Inspection Fee will be reimbursed at Closing.
7. You will have a complete list of local area service providers.
8. You will be accompanied to your Closing in case you have any questions or raise any objections.
9. You will be educated on your preliminary Settlement Statement.
10. You will have a friend and Realtor for life.

                                       Register here for your Buyers Package!
It is filled with information on the homebuying process... with everything from mortgage information to calculating Closing Cost.

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INFORMATION YOU NEED TO HELP PREPARE

FOR YOUR HOME PURCHASE

Below are some helpful tips that will answer most of your questions and point you in the direction that you need to go. Please feel free to call me directly should you have any questions or concerns about any of these tips.

1. Check your Personal Credit. Contact all three credit bureaus (Experian, Equifax, TransUnion) and request a free or inexpensive report. Update and correct if necessary by filing the appropriate disputes.

2. Reduce your debt to net worth ratio by paying down or paying off creditcards, student loans, car loans, etc.

3. If possible, get pre approved for financing. That way you’ll know how much home you can afford before you start your search.

4. You should save as much as possible for your down payment and closing costs. Sacrifice short term luxuries (i.e., trips, cars, gifts) for your long term goal of home ownership.

5. Avoid using credit at all costs. This is not the time to assume another car payment, buy a boat or even apply for another credit card. DO NOT BUY OR APPLY FOR ANYTHING!! Consider Consolidating your debt before you purchase a home.

6. If someone is donating a substantial sum of cash toward your purchase, deposit it in your savings account months before applying for a mortgage loan, so that the money is “seasoned.” Ask an attorney, accountant or loan officer about gifting rules and how they will affect your tax return.

If you are a Veteran, order your VA certificate of Entitlement ahead of time. See an example of a Gifting Letter.

7. After you make an offer on a home and it is accepted by the seller, be prepared to pay for the following items during your Option Period before Closing:
      Earnest Money
      Option Fee
      Appraisal
      Inspection
     Survey (Note: normally seller already has a current one, but if it’s older than seven years and there have been additional improvements to the property, you should be prepared to purchase an updated survey).

Click for Step By Step Intructions on the Closing Process.

Ready to get started?

Step One:

Devise your Step-By-Step Planning Method to help you make an informed buying decision.

Step Two:

Conduct Your Home Search

Step Three:

Call Me - 469.766.7379 or email me

Harnessing Your Buying Power!

For an in-depth look at the buyer's purchasing process sign-up for our monthly newsletter. This newsletter is packed with the do's and dont's of investing in your home. We have an advice column where industry professionals lend us their expertise covering every topic from Appraisals to Home Warranties.

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MeLisa Minter, MBA, Realtor 469-766-7379, melisa@homesmint2be.com

MeLisa Minter, MBA, Broker, SFR, HRC

...The way Real Estate was MINT to be!