Buying a Home
Now that you are joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family, we have a some information for you. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours and over time, your home will increase in value!
Buying a home can be an exciting, yet often overwhelming, experience. Here we have provided you with a few tips that will help you navigate the process with ease.
Prequalify for a loan:
Shop around for rates and terms:
What a Buyer’s Agent can do for you:
REALTORS® Know Real Estate! REALTORS® deal with real estate issues and concerns on a daily basis. They have been educated extensively on the laws and regulations that influence the market. By law agents are required to get continued education to renew their license ensuring they are always up-to-date on the latest real estate news and laws. As Professionals, they have access to tools and an endless array of contacts in the industry to help YOU find your dream home.
Lenders will never lend more money than a home is worth. So, you can rest easy knowing that you will never overpay. But there are other problems that can haunt you if you’re not careful. For example, REALTORS® are trained to ensure all necessary disclosures are given completely and in a timely manner. There are many disclosures differing within each state. Some disclosures may include: natural hazards, mello-roos and bonds, smoke detector, lead-based paint, mold, wildfire zones, inundation zones, and Megan’s Law.
Other potential problems that buyers’ may encounter in the buying process involve homeowner association rules and regulations. For example, you’re a dog lover and have three but you just purchased a condo that doesn’t allow pets. What can you do? Nothing! You can sell the condo but that’s about it. You’re legally bound by your agreement with the association and you’re unlikely to change their rules as a new member. Be smart: Know that as much as you think you know… there is always more to know. Trust that you’ll likely forget something in the process. Hiring a real estate agent will save you the trouble in your attempt to research every problem you may run into during the home buying process. You’ll not only save yourself time researching but help your family avoid potential risks.
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