Sometimes, we run into difficult credit. That doesn’t automatically rule you out of the home buying process. A professional lender will know how to “package” the application with difficult credit and “sell” it to decision makers. This is not to say it is easy, and works 100% of the time, but a good lender will work hard on your behalf to try and get you the loan.
So interview your lenders and make sure you feel comfortable with them, you will have to share a lot of private information with them. If you would like the name of a couple of professional lenders, write me at Mark@MDREPros.com and I can send you the names of some excellent lenders.
Once you have decided on the lender you want to get pre-approved. A solid pre-approval will consider your credit score, your current financial status as well as your current income. A pre-approval will let you know how much home you can afford. This is probably the biggest time save for you. You don’t want to be looking at $200,000 homes, and then find out you can only afford $150,000. Know ahead of time what you can afford, with a good pre-approval.
Once you been pre-approved we will start a custom home search for you, so you will see homes that match what you are looking for. When you are ready, we will start to tour the homes, looking for that ideal “dream home”.
When you have found that dream home, you will want to make an written offer on that home. Your professional realtor will help you with that. You will need to submit your pre-approval letter with your written offer to the sellers agent, who will present your offer to the sellers. The pre-approval letter, proves to the seller that you can afford to buy their home. We cannot submit an offer without the pre-approval letter.
If the offer is accepted, we will need to work on the contingencies. For example, the home inspection. Normally we have 7 days after the offer is accepted to get the home inspection completed. If we find problems with the home during the home inspection, we can ask the seller to fix the problems, ask the seller for money to make the repairs yourself, or we can call the contract null and void.
You do not have to buy a home if there are problems with the home discovered during the home inspection. This is a contingency to protect you. Your professional realtor will know what kind of contingencies to ask for when you are making an offer, to make sure that you are protected.
However, the more contingencies that you have, the more difficult it is to get the seller to accept the offer. This is where your realtor’s knowledge of the market and area will help with negotiations. Are you in a slow market, you can ask for more contingencies. If your in a hot market, you want to ask for less contingencies.
And it is possible that you are not the only one making an offer on that home. We still see in todays market, multiple offers, especially when the home for sale has been priced below market value. Again, this is where having a full time professional realtor pays off, they usually know the listing agent, and can sweet talk your offer in, and spin it, so it looks better than the others. Again, this doesn’t always work, but it pays to have a realtor who knows a lot of other realtors.
When you’re ready to start considering a home purchase, be sure and contact Maryland Real Estate Professionals w/ REMAX Realty Group. Hakuna Matata – It Means No Worries For All Your Home Buying Days.Type your paragraph here.Type your paragraph here.
Buying your home is both exciting and nerve-wracking. It is a major decision that takes planning and research, and careful budgeting. Here are some tips to help you get started.
Find a Professional Realtor You Can Trust. Not all realtors are the same. A good Professional Realtor will be the quarterback of your home buying team. When you work with the Maryland Real Estate Professionals team of Professionals, you are working with Professional Realtor with experience and knowledge of the area.
Know how much home you can afford. Ask your Maryland Real Estate Professional Realtor for a lender recommendation.
FREE Home Buyer Resources
FREE Real Estate Resources For Home Buyers And Home Sellers
Welcome to Maryland Real Estate Professionals home buyers site. Hundreds of home buyers have trusted Maryland Real Estate Professionals with their most valuable purchase, their home. We look forward to earning your trust as well.
There are a lot of things that you want to think about when you are hiring a real estate agent to help you buy your home. You want to make sure that they are full time professional agents, not part time realtors. Full time realtors have made the decision that helping you find real estate is the only way that they will earn a living. They are committed to help you.
We have excellent lenders that we work with and will make sure that the loan is ready when it comes times to settle on your home. The lender will get you “Pre-Approved” and you will know exactly how much home you can afford.
Buying a home can be smooth and simple process, if you are aware of and know what to expect. We have helpful resources to make you purchase as smooth as possible. Hakuna Matata – It means not worries for all your home buying days!
However, the best part is that they represent, look out for your best interest and work for you… but they don’t get paid by you. In fact, when you hire a full time professional realtor, it doesn’t cost you a dime. They are paid by the seller, but they work for you! It doesn’t get any better than that!
Not all Professional Realtors are alike. You want to make sure you have a realtor with experience, knowledge, and has the ability to negotiate on your behalf. Not too long ago, one of my clients was transfer to Alabama. He called me (in Maryland) and was venting a little about his realtor in Alabama. They were supposed to close, but the seller was being difficult about some repairs. The realtor was telling my friend to just accept the deal and accept the issues… I told my client friend what to do, which he did and the seller budged and took care of the repairs. It saved my friend about $5,000. It was a simple solution, but you would need the experience to know how to hand the challenge.
A good Realtor will have testimonials on their website… like ours for example www.MDREPros.com. We strife to make sure our home buyers and home sellers are completely satisfied with our service, and have the results that they want.
There are some basic things that you want to do, when you want to purchase real estate in Central Maryland. You want to build a team of professionals, who can work together and get you the home that you want, your dream home. The anchor to your team is your professional realtor.
Next you want to interview professional lenders. Your realtor should be able to provide you with the name of 2 or 3 excellent lenders who can get the job done. There are a lot of things that lenders look at when you apply for a loan. You want to make sure that you have all those items ready, and a professional lender who can push the application through.