Get Pre-Qualified

Buyer's Mistakes
1) – Not Being Pre-Qualified For Financing Before Looking
When you start to look, it is important that you know how much you can comfortably spend on a home. Getting pre-qualified for financing will lock down your price range and help prevent you from being turned down after falling in love with a home. It will also save you the strain of having to find a lender within a few days of conditionally buying a home. In times of fluctuating interest rates it would benefit you to lock in a lower rate. This could save you thousands of dollars if the rate increases while you are in the process of buying.

2) - Failing To Seek Out The Services Of An Experienced Real Estate Agent
Many Buyers are unaware of the fact that in almost every case they are not responsible for paying the agent’s fees; the agent is being paid a commission from the seller. It is always best to seek out an experienced real estate agent that can use their information regarding recently listed and sold properties to get you the lowest price possible.

3) - Failing To Know Research The Market Before Making Your Offer
Have your agent prepare all the area sales and comparables in your area and get a copy to look over before you make your offer. This will help ensure that you do not overpay what the home is really worth. In most cases, this is the same type of information that the seller saw when setting the price of their home.

4) - Not Being Informed Of Your Rights & Obligations During Your Offer To Purchase
It is of the utmost importance to be aware of your rights and what to expect from a competent real estate agent. A small mistake in a condition or clause could end up costing you time and money, or in some cases even void your contract.

5) – Not Understanding The Common Negotiating Methods Used At Offer Time
Some buyers have been told that the best way to get a good price is to lowball the seller from the start in hopes that the seller will drop their price down fast in their counter offer. In reality this often does nothing more than upset the seller and will probably end up ruining the chance at an acceptable offer to both of the parties involved. Have good communication with your agent, and they will be able to inform you on the many proper ways to negotiate a deal and still get you the lowest price.

6) - Failing To Use Home Inspection Company
Buying your home often times the most important investment and financial transaction that you will ever make. A home inspection can save you hundreds or even thousands of dollars and unexpected problems down the road. In addition to the inspection, it is often a good idea to request some type of Home Warranty to cover the electrical appliances that come with the home.

7) - Letting Your Emotions Cloud Your Judgment
Buying a home is an important and exhilarating process! It is important not to let your emotions get the best of you and cloud your judgment of whether you can really afford to make the payments comfortably, and so on. Be sure not to get so excited that you get in over your head.
5 Factors Deciding Your Credit Score
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.
  1. Your payment history. Whether you paid credit card obligations on time.
  2. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
  3. The length of your credit history. In general, the longer the better.
  4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.
  5. The types of credit you use. Generally, it's desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example.
For more on evaluating and understanding your credit score, go to http://www.myfico.com.
Real Estate FAQ
Q: Do real estate forms have to be notarized?
A: Most real estate forms must be notarized to be recorded in the land records. Examples are deeds and mortgages. Forms that will not be recorded generally do not have to be notarized, such as a lease form.

Q: What is the difference in a warranty and a quitclaim deed?
A: A warranty deed assures the buyer that the Seller will defend his title to the property from all other persons. A quitclaim deeds conveys whatever title the seller owns but with no warranty against the claims of others.

Q: What is a disclosure statement?
A: A disclosure statement, as used in the real estate context, is a form the seller of property must complete and provide to the buyer disclosing to the buyer all defects and various other information about the residential property.

Q: What is a closing?
A: Although this term may mean different things in different states, the "closing" is a meeting where all of the documents are signed and money changes hands.

Q: Who is the grantee and grantor?
A: Grantee - The person to whom an interest in real property is conveyed.
Grantor - The person conveying an interest in real property.

Q: What is Truth-in-Lending?
A: A federal law that requires lenders to fully disclose, in writing, the terms and conditions of a mortgage, including the annual percentage rate (APR) and other charges.

Q: What does tenancy in common mean?
A: As opposed to joint tenancy, when there are two or more individuals on title to a piece of property, this type of ownership does not pass ownership to the others in the event of death.

Q: What is the Real Estate Settlement Procedures Act (RESPA)
A: A consumer protection law that requires lenders to give borrowers advance notice of closing costs.
Tips For Packing
  1. Develop a master “to do” list so you won't forget something critical.
  2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.
  3. Don't throw out everything. If your inclination is to just toss it, ask yourself how frequently you use an item and how you'd feel if you no longer had it.
  4. Pack like items together. Put toys with toys, kitchen utensils with kitchen utensils.
  5. Decide what if anything you plan to move yourself. Precious items, such as family photos, valuable breakables, or must-haves during the move, should probably stay with you.
  6. Use the right box for the item. Loose items encourage breakage.
  7. Put heavy items in small boxes so they're easier to lift. Keep weight under 50 lbs. if possible.
  8. Don't over-pack boxes and increase the chances they will break.
  9. Wrap every fragile item separately and pad bottom and sides of boxes.
  10. Label every box on all sides. You never know how they'll be stacked and you don't want to have to move other boxes aside to find out what's there.
  11. Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.
  12. Keep your moving documents together, including phone numbers, driver's name, and van number. Also keep your address book handy.
  13. Back up your computer files before moving your computer.
  14. Inspect each box and all furniture for damage as soon as it arrives.
  15. Remember, most movers won't take plants.

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