![]() |
|
Jennie Shook's Buyer's November 2016 NewsletterFour Quick Tips That Could Save You Thousands…![]()
|
Continued from Page 1 Col 1 A pre-qualification is usually a Lender’s opinion of your eligibility for a loan. If you ask to be pre-approved, the Lender will actually submit your job and credit history to an underwriter and get a conditional approval for a loan and a loan commitment. The advantage of having a pre-approval is that it will make your offer to buy a home stronger and it will usually allow you to close on the home faster. 3. Do you have the ability to handle difficult credit history?Many Lenders will only work with you if you have perfect credit, and if a problem comes up, they won’t help you. Make sure your Lender has reviewed and received approval for you and your specific credit history. 4. Is the rate you quoted me the rate I’ll get at closing?Many Lenders advertise their rates in the paper and in homes magazines. These are called “teaser rates” in the industry. The name says it all. After they’ve got you committed to using them, many Lenders then tell you what the “real” rate will be. By this time, it’s too late for you to do anything about it |
Continued from page 1 Col 3 You can use this list as a scorecard to rate each property you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes. When house hunting,
keep in mind the difference between skin and bones. The
bones are things that cannot be changed such as the location,
view, size of lot, noise in the area, school district,
and floor plan. The skin represents easily changed surface
finishes like carpet, wallpaper, color, and window coverings.
Buy the house with good bones, because the skin can always
be changed to match your tastes. I always recommend that
you imagine each house as if it were vacant. Consider each
house on its underlying merits, not the seller’s decorating skills.
|
4. Don’t Be Pushed Into Any House.Your agent should show you everything available that meets your requirements. Don’t make a decision on a house until you feel that you’ve seen enough to pick the best one. Review the Multiple Listing printout with your agent to make sure that you are getting a COMPLETE list. In the late 1980s, homes were
selling quickly, usually a few days after listing. In
that kind of market, agents advised their clients
to make an offer ON THE SPOT if they liked the house.
That was good advice at the time. Today there isn’t always this urgency, unless a home
is drastically under-priced, and you’ll know if it is.
|
![]() |
![]() |
![]() |