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| “We’ve seen too many people who got the wrong advice or made an incorrect choice of available options and they lost $$ Thousands $$ working with Real Estate!” - Anne & David La Liberty |
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There is no need to lose $$ Thousands of Dollars $$ working with Real Estate |
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| The answers to the following questions will save you $$ Thousands of Dollars $$ when Buying Real Estate! |
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Find The Question That Interest You click to see Information that can Save You $$ Thousands Of Dollars $$!
“What are the most important things that will assure I get top dollar when I eventually sell? Is it price, the location, the function of the home for my living situation, or the number of homes I should see?” “In addition to the mortgage, what are the other cost I should be aware of that I will also be responsible for when I Buy a home?” “Before I see any homes, what preparations should I make that will give me the best negotiating advantage with a Seller? “What kind of mortgage pre-approval letter will give me the best negotiation advantage with a Seller? Should I get one that is less than, equal to or greater than the amount I am willing to pay for a particular home. Which one gives me the best advantage when I’m negotiating?” “Does an adjustable or fixed rate mortgage make sense for me at this time? Should I take out a 20, 30 or 40 year mortgage?” “What things do I need to be aware of when I’m Buying a home to fix up and resell? What’s so complicated about this? How can I possibly lose money?” “I regularly go to open houses for sale without a qualified Buyer agent, someone said this could cost me $$ Thousands of Dollars? How can this happen? “I’m Relocating out of the area. What preparations should I make that will give me the most advantages when I finally relocate?”
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The RE/MAX Advantage ! * Why You Can Trust A RE/MAX Agent ! |
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“Should I Rent or Buy at this time?” Rental Benefits: § No responsibility for property improvements, maintenance and repairs. § If you don’t have a lease, you can terminate your rental with a 30 day notice. (Extremely important if job relocation is a definite possibility. Also, if you buy a home and plan to sell in less than 2 years, the profit on the sale may be subject to a Capital gains tax. In a good sellers market you should plan on a 3-4 month time to sell a home.) § If property values are falling you may want to rent until the market begins to turnaround, however you could be losing out on some real good value if you wait too long. Home Ownership Benefits:
§ No tenant issues (interior noise, etc.) § For many, this is will be your major retirement investment, if you work to reduce what you owe on the home (increase your equity) and if you maintain the home properly, you should also experience a significant increase in the value of your home, compared to what you purchased it for (even when you factor inflation). § You have Tax advantages such as a deduction for interest and real estate taxes. This could be a significant advantage for you when you file yearly tax returns. |
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“In addition to the mortgage, what are the other cost I should be aware of that I will also be responsible for when I Buy a home?” § Deposit money ($500 when making an offer + 1-3% of the purchase price at Purchase & Sale) § How much down payment is required by your mortgage lender for the particular mortgage program you will be using or will you be borrowing 100%
§ Home Inspection: including Lead Paint, Radon, § PMI (private mortgage insurance) § Mortgage acquisition cost § Required Escrows (monies held in advance from you) for taxes & ins. § Mortgage § Title insurance § Owners Title insurance § § Real Estate taxes escrows § Home Owners insurance § Known Home Repairs and Maintenance § Water, Heat, Electricity § Food, Car – (payment, gas, maintenance, insurance), charitable contributions, entertainment (based on your own experience, consider future estimated changes you think you will have) § Consider a contingency fund for unplanned repairs (money in the bank that you replenish if used) § Do you foresee any future job changes that will cause your income to go up or down in the near future |
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“Before I see any homes, what preparations should I make that will give me the best negotiating advantage with a Seller? § Locate a local, reputable mortgage officer. Ask your friends and acquaintances for recommendations or call us. Even if you’ve had bad credit in the past, a good mortgage officer can help you determine what your current status looks like and what corrective action, if any needs to be done. o Educate them regarding who you are and what you want to accomplish. Allow them to help you determine many of the other cost mentioned above. o Get a pre-approval mortgage commitment from them. § Use Caution if any mortgage person is quoting you extremely low interest rates. This could mean future problems on the day when you are taking ownership of the property you've selected. Lenders need to make a profit or they would be out of business. Be sure you have a good faith estimate that summarizes all of your closing cost. You do not want a $3,000 - $4,000 surprise cost or a change in your interest rate just before your ready to take ownership of your home! § Locate a real estate agent you can trust. This will be the person who will be responsible to you to guide you through the home buying process: understanding your needs, locating the right property, coaching you through negotiations, guidance through the home inspection, purchase and sale and follow up to make sure the home you want becomes yours as you’ve agreed with a seller. o Consider our qualifications by clicking any of the following: How Our Service Doesn’t Leave You Guessing ! "What Other Customers Say" When To Expect The Unexpected ! Anne & David La Liberty – who are they? click here to return back to other questions
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It Depends! § Adjustable rate can be a good alternative for short term situations and remember some adjustable rate mortgages can have fixed rate in the 1st 3 or 5 years of the mortgage. This could be a good choice for someone buying a home to fix and resell or will only be in the area under 5 years. § The length of the mortgage, 20, 30 or 40 years depends on a monthly payment you are comfortable with. The longer the period of time for the loan the smaller the monthly payment and the more interest you will pay over the life of the loan. All off this shows the importance of working with a local reputable mortgage officer (click to see advantages), who will take the time to understand your unique situation. |
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“What things do I need to be aware of when I’m Buying a home to fix up and resell? What’s so complicated about this? How can I possibly lose money?” There are several major areas you’ll need to balance whenever you want make a profit fixing up and reselling homes. § Original price you pay. § Location § Types and Cost of improvements to make the property attractive to a qualified Buyer. § Accurate projected market price and length of time to attract a qualified Buyer. o Considers: § Location § Type and cost of improvements § Increasing or declining market § Comparable properties recently sold or currently for sale § Carrying cost (cost you will be responsible for during the whole process) · $$ for improvements · Interest on mortgage for purchase or improvements, etc. · Insurance · Taxes · Real Estate Brokerage · Legal fees Miss any of these factors and you will lose $$ Thousands $$!! You should consider the services of a reputable mortgage officer, attorney, plumber, electrician, licensed contractor and a real estate agent § Consider our qualifications by clicking any of the following: How Our Service Doesn’t Leave You Guessing ! "What Other Customers Say" When To Expect The Unexpected ! Anne & David La Liberty – who are they?
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“I regularly go to open houses for sale without a qualified Buyer agent, someone said this could cost me $$ Thousands of Dollars? How can this happen? § By legal contract, a Sellers Agent at the open house is representing the Seller, not the buyer attending the open house. o They cannot: § Have your best interest in mind, they must have the sellers best interest in mind. Looking to get the most for the seller. § Help you construct an offer to purchase that will give you all the best negotiation advantages.
§ Advise you how to approach the seller (to your best advantage) regarding any Home Inspection issues that will arise. § Use caution! Any of these items could cost you $$ Thousands $$ § click here to View Agency Choices That Can Save You $$ Thousands $$ |
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“I’m Relocating out of the area. What preparations should I make that will give me the most advantages when I finally relocate?” § If you have a home to sell, you will need know how much your home is worth in today’s market. o The net proceeds from the sale amount is what you will have to apply on the purchase on a home in the area you are relocating to. § Click the following to compare the attributes of the cities and towns in the general location of where you plan to move to. This will help you figure out what city or town has the most to offer you. Compare Communities Anywhere In The USA! § Check out the price of housing in the cities and towns you plan to move to. Just click the following: Find Properties Anywhere in the § You should consider the services of a reputable real estate agent. § Consider our qualifications to serve you, by clicking any of the following: How Our Service Doesn’t Leave You Guessing ! "What Other Customers Say" When To Expect The Unexpected ! Anne & David La Liberty – who are they? § Allow us to use our Nationwide RE/MAX network to locate and qualify an experienced Buyer agent who can work with you to find a home that meets your needs. § Click here to email us today! |
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