EXPERTS LANE n HOME BUYING PROCESS
tate Agent has your best interest at heart,
knows the market conditions and can
guide you when it comes to the time to
decide on the right house for you and
your family.
Prepaid Expenses and
Closing Cost Required
It is imperative that there is cash available
in reserves to pay for your inspection, ap-
praisal, and Good Faith deposit. These
fees are required after a contract is accept-
ed and are upfront expenses required pri-
or to closing on a property. These fees are
required within a specific time frame of
contract execution.
Don’t be caught off-guard with the clos-
ing cost required. The amount needed
and what that entails should be discussed
with your mortgage lender prior to start-
ing your search.
Are You Ready for
HOMEOWNERSHIP?
By Nesterine Blair, WFG Associate
Now you may ask, what do I need to do to
get ready? Where do I start? Let me cover
some of the most important steps.
Are You Credit Worthy?
Your credit is the biggest factor when get-
ting approved for a mortgage loan. Your
score is not the only factor taken into con-
sideration, your credit history also plays
an important part in the approval pro-
cess and helps to determine the interest
rate on your loan.
10
IBA Success Magazine
n
VOL 5, Issue 4
Get Pre-Approved for a Loan
It is highly recommended that you work
with a licensed lender to get pre-ap-
proved before you begin house hunting.
Pre-approval will tell you how much house
you can afford and can help you move
faster, and with greater confidence, in
this competitive market. Be prepared to
present documents like tax returns, pay
stubs, bank statement, etc. Do not accept
a pre-approval letter from someone who
only looks at your credit report. Make sure
your tax returns and bank statements are
reviewed also.
Hire a Reputable Real Estate Agent
This is the only time you will be able to
hire someone without paying them (in
most cases). A very reputable Real Es-
Make Sure Your Timing
is Taken Into Consideration
Are you currently in a lease? When does
your lease expire? How much time does
your lender need to process your loan? Is
the property you are considering a short
sale? Short sales are still out there.
For further information
or discussion about the
home buying process,
please contact
Nesterine Blair, Broker
Blair Realty Group, Inc., 407-210-3944
[email protected]
www.BlairRealtyGroup.Com
“Our Experience Will Be
Your Best Investment.”
ADOBE
B
uying your first home is one of the
biggest Investments you will ever
make. The key to making the ex-
perience fun and fulling is to make
sure you are prepared before you start
your search.