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Real Estate Buyers Guide
The purchase of real estate is one of the most important transactions a person will ever make. The first step is pick out specific areas to focus your search on. When looking at neighborhoods, check out the quality of schools, the average home prices, the major employers, and the nearby resources (fire station, library, grocery store, etc). After choosing the best area for your family, then it's time to start taking more proactive steps in your search.
Resources for Buyers
A real estate agent will be your major resource for help and information. Your agent will be your access point for the MLS (Multiple Listing Service), which lists all available properties on the market. While many sites allow you to view the MLS, you will need an agent to actually tour the homes. Beyond simply finding you a home, your agent can often help you find a good source of financing.
Financing is a crucial step in the buying process. It's important to be pre-approved for a mortgage before looking seriously at homes. Pre-Approval means that you have been fully screened by an approved lender and approved for a loan; this can be a huge help when the time comes to make an offer. Most sellers will go with candidates that are pre-approved, since there's less risk that the deal will fall through.It also let's you know how much home you can responsibly qualify and afford.This is very important in these times where recent changes in the banking industry the guidelines for approval have and are more scrutinized.
Your real estate agent will also be critical when it comes to negotiating and making your offer. The home buying process is long and involved, but with the right resources--namely, a good agent--it can be exciting and fun.
**************************EDITOR'S NOTE*********************** In todays' Buyer's Market, buyer's have a tremendous oppurtunity to find the home they have waited long to find.The inventory levels is 6-10 months worth ( more choices ) and Mortgage Rates are still historically low.Also your agent can WORK FOR YOU for a change.As a BUYER's AGENT, I can look out for YOUR INTEREST and negotiate on YOUR BEHALF. Question: Will I have to pay you to represent me as a BUYER"S AGENT ? Answer: Yes,that is true; but a selling agent will always get paid in a transaction regardless who he represents. In all the years that I have practiced Real Estate it is the BUYER who comes to the the table with all the money. Shouldn't they have someone negotiating on their behalf and in their interest? Solution: BUYER REPRESENTATION !!!
Francisco "Frank" Diaz
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