| Wow! The stimulus package is sure stimulating. Home | | | | scenario. |
| buyers are jumping out of the woodwork and on to | | | | LASTLY, they work from the beginning of the deal to |
| the Internet! | | | | the end of the deal to make sure you have a LOAN |
| Great days are coming!!! A new house, $8,000, no | | | | that enables you to actually buy the house! |
| more renting, no more apartment dwelling...the first time | | | | So, why haven't you contacted a lender yet? |
| home buyers are all over this free money...who | | | | Like any other type of buying process, the home |
| wouldn't be? They should be! | | | | buying process is one of elimination. Eliminate the price, |
| Not being one to burst one's bubble (famous last | | | | the location, the condition, and, yes, the ugly ones. |
| words)...BUT, if you are a first time home buyer ready | | | | The Task of the Buyer's Agent is: |
| to catch the money, you may have some issues to | | | | They will guide you through the proper channels of |
| tend to first. | | | | making a home purchase your reality. |
| BUYER BEWARE: | | | | They will start by assisting you with a consultation |
| Issue #1: Have you looked over your current lease? | | | | regarding what your needs are in a home. |
| Issue #2: Have you been in touch with a lender to see | | | | They will set up a search for you, so you have a |
| if you can qualify for a loan? | | | | broad range of homes to choose from, yet keep them |
| Issue #3: Do you know how much money you will | | | | within your specified criteria.(We have 25,000 Charlotte |
| need (out of pocket) to buy the home? | | | | homes for sale in (give or take a few). Eliminate the |
| Issue #4: Have you hired a Realtor in the form of a | | | | masses with the help of your buyer's agent. |
| Buyer's Agent? | | | | They will work with you with homes that are resale |
| The role of a Realtor as a Buyer's agent was created | | | | and new construction. |
| to guide and protect you, the consumer, on one of the | | | | They will guide you through the writing of an Offer to |
| biggest purchases of your life. | | | | Purchase (The NC Offer to Purchase is 8 pages long). |
| This article is not to suggest that you shouldn't pursue | | | | As Buyer's agents, they will negotiate the Offer to |
| your home. | | | | Purchase on your behalf. |
| You should. As a Realtor and a parent of first time | | | | The Realtor (buyer's agent in this transaction) |
| home buyers, I'm all for it! What is striking, is that with | | | | becomes the glue that oversees the following pieces |
| the excitement of the free money, and the ease of | | | | of your transaction. Their guidance will also carry you |
| finding homes on the Internet , a few very valuable | | | | through the following: |
| components in the home buying process have gone | | | | Negotiation of Offer to Contract |
| by the way side. | | | | Lenders follow up and follow through |
| Two players...the Mortgage Lender, and the | | | | Inspection-structural, mechanical and termite...others |
| Realtor.You will need both of these folks, so start with | | | | when needed |
| one or the other or both at the same time! And then | | | | Negotiations of repairs per the inspection reports |
| you will be ready to go and buy your first home! | | | | Attorneys/HOA/Title Work/ Surveys-explanations, |
| Below is a FREE First Time Home Buyer Tutorial for | | | | ordering, and timeliness |
| all of you first time home buyers: | | | | Final Walk Throughs and Closing |
| The INITIAL Task of the Mortgage Lender is this: | | | | Did You Know... |
| They pull your credit score using your social security | | | | A majority of the time, the fees paid to the Buyer |
| number. | | | | Agent are paid for by the Seller or by the |
| They use the credit score to help them guage what | | | | Builder...making this a FREE service for the |
| your financial ability is. | | | | buyer...Rates have never been lower and there is a |
| They will need to do some digging on your debt and | | | | huge surplus of homes on the market... |
| income ratios. | | | | Call your Lender (this is free). |
| They will "CRUNCH the numbers" to guide you to a | | | | Call your Realtor (this is free). |
| comfortable home purchase price, and monthly | | | | Just know this: |
| payment expectation. | | | | Running around without guidance is very costly versus |
| They will provide you with a 'good faith estimate' so | | | | making a couple of phone calls at the starting gate, |
| you will know approximately how much money you will | | | | neither of which will cost you a thing. Once that's done, |
| need to have the day you close (the final deal-keys). | | | | you'll know for sure if the $8,000 from Uncle Sam is |
| They may also offer you some guidance on the do's | | | | coming your way! |
| and don't's regarding your particular credit/buying | | | | Happy house hunting! |