Murfreesboro Realtor explains. The Basics of Buying a Home. In Middle Tennessee for Buyers & Sellers

Home of the no risk contracts. When you let us help you buy your new home we will allow you to cancel the contract at anytime. If we are not living up to what you expect from a realtor we will cancel the contract that day. Now that’s peace of mind.
By: mbororealestate.com
 
June 5, 2010 - PRLog -- The Basics of Buying a Home

mbororealestate.com  

Home of the no risk contracts. When you let us help you buy your new home we will allow you to cancel the contract at anytime. The number one reason buyers who are thinking of moving into a new area are hesitant to sign up with Real Estate Agent is they are afraid of the long term contract that locks them in to that agent for months. Now we’ve removed that problem. We will allow you to cancel the contract at anytime. If we are not living up to what you expect from a realtor or if for some reason you change your mind we will cancel the contract that day. Now that’s peace of mind.


#1 Use a FULL TIME realtor , one who can and will devote whatever time is needed to help you meet your real estate needs. One who will treat you with respect and dignity no matter what your price range is.

#2 Don't buy if you can't stay. If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner - even in a rising market. When prices are falling, it's an even worse proposition.

#3 Beef up your credit. Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

#4 Only look only at home you can really afford. The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you'll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

#5 Carefully choose between points and rate. When picking a mortgage, you usually have the option of paying additional points -- a portion of the interest that you pay at closing -- in exchange for a lower interest rate. If you stay in the house for a long time -- say three to five years or more -- it's usually a better deal to take the points. The lower interest rate will save you more in the long run.

#6 Get pre-approved by a bank you trust.
Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

#7 Do your homework before making a offer. Your offer should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that's about eight to 10 percent lower than what the seller is asking.

#8 Hire a home inspector check it out. Sure, your lender will require a home appraisal anyway. But that's just the bank's way of determining whether the house is worth the price you've agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.

#9  Try to put 20 percent, but you may still qualify for a loan. There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3 percent of the purchase price.

#10 Look in a districts with good schools. In most areas, this advice applies even if you don't have school-age children. Reason: When it comes time to sell, you'll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

#11 Always buy a home under the assumption that you will resale it shortly. Things happen and you may need to sell and often do for one reason or another.

If you ever have any questions or need help with any real estate needs or know someone who does please feel free to call or email me anytime. I would love to have the opportunity to be your neighbor and realtor.

I never force a seller to continue to use me as their agent if they are not comfortable with my style or methods. I will allow you to cancel our contract at anytime you are not happy with me or you just change your mind.

Please feel free to call or email me anytime.

Mike O'Donnell
615-473-5684
Tema@comcast.net

mbororealestate.com

Home of the no risk listings. The number one reason home owners who are thinking of selling are hesitant to sign up with Real Estate Agent is they are afraid of the long term contract. Now we’ve removed that problem. When you let us help you sell your house we will allow you to cancel the contract at anytime. If we are not living up to what you expect from a realtor or if for some reason you change your mind we will cancel the contract that day. Now that’s peace of mind.

# # #

As a FULL TIME realtor in Murfreesboro TN, I can and will devote whatever time is needed to help you meet your real estate needs.
I treat each client with respect and dignity whether the property you are interested in is worth $5000 or $5,000,000.
End
Source:mbororealestate.com
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Tags:Realtor, Real Estate, Home, House, Buying A House, Murfreesboro, Relocating, Home Buyers, House Sellers, Middle Tn, Sell
Industry:Real Estate, Property, Mortgage
Location:Murfreesboro - Tennessee - United States
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