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Buyer "BeAware"
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Whether you are a first time home buyer or a well seasoned home buyer....."BeAware".
The biggest mistake a buyer can make is to work with more than one REALTOR.
REALTORS are generally paid on a commission basis. If your loyalty is spread, no one will do the job for you.
Find a REALTOR you like and trust, and they will most probably go to the ends of the earth to find you just the right home.
Be patient, your perfect home with the white picket fence may take some time to find.
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The next step is to apply and be approved for a mortgage. Approved, not pre-qualified. Pre-qualified simply means that you can afford to carry a mortgage of a certain amount. Approved means that you have applied, your credit has been checked and your employment has been verified. The application and approval process will uncover any possible credit problems early on, so that you can work out the kinks before you lose the home of your dreams.
Your REALTOR professional,is most likely, in touch with lending institutions, and can reccommend several from which to choose. If you seek out a lender with rates that sound "to good to be true" ..... they probably are! "BeAware"
At this point the "foundation" is in place. Your REALTOR professional has discussed your wants and needs and hopefully has a good feel for what you are looking for. The most important thing that you can do for your REALTOR is be honest as to your likes and dislikes of homes that you have seen. This narrows the search perimeters, and brings you closer to owning you own home.
Don't settle for something you don't like, however, have some flexibility. Do you love the neighborhood? Schools? Convience to your job? But you really wanted a 2 car garage! Can you live with a 1 car garage for now? LOCATION! LOCATION! LOCATION!
On the other hand, when you find the right home, you will know it. Stop looking and make an offer. If you sleep on it, the house could be gone.
Your REALTOR probably has access to a MLS (multiple listing service) which has records of sold homes (comps or comparables)of similar age, style and condition within the neighborhood. Have your REALTOR show you the "comps" so that you can make an educated offer on the home. At this point your REALTOR will proceed to negotiate the offer.
Great! Your offer has been accepted!
Most real estate contracts have an attorney approval period as well as an inspection clause. ALWAYS have a good "REAL ESTATE ATTORNEY" and ALWAYS have a home inspection performed by a qualified, registered professional. And I mean ALWAYS! Also ask the seller to provide you with a "Home Warranty Policy" which generally covers the major systems. There are many national companies offering these plans.
CONGRATULATIONS! When the foundation is in place and you have enlisted the services of a REALTOR professional, you are one step closer to owning the "American Dream".
Romo & Associates Inc. would like to help you make your dream a reality, either locally, or nationaly.
I thank you for visiting, and hope you will make use of the informational links provided.
Ida S. Romo
Romo & Associates Inc.
Schaumburg, IL. 60193
(847) 991-2430
The links provided are for informational purposes only. Romo & Associates Inc. will not be responsible for their content nor the accuracy of their content.
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