Do's and Don't's
of
Home Buying
(These tips could mean the difference in getting your property or not!)

READ THIS TEXT CAREFULLY!
it's VERY IMPORTANT INFORMATION!
The DO's...


1. Immediately obtain a FREE Loan Pre-Approval before you begin searching for properties! Why? Because REALTORS must be sure that the price range you are looking in, can be supported financially.

We certainly don't want buyer clients to get their hopes up for a home and later find out they don't qualify for it. Let's do the qualifying over the phone with our lending associate as the very first step in the home buying process.

If you choose to house hunt first and are not willing to focus on financing as the very first step, its has been proven time and time again, to be a waste of your time, something none of us have enough of! Seldom will realtors use the Pre-Approval letter of another realtor or another Lender...your realtor will explain why! Be sure to ask.

2. Its very important you obtain a FREE Loan Pre-Approval before you make an offer! Why? Because most sellers wont take your offer seriously if you havent taken the financial steps to insure you can actually get a loan for the home you're about to make an offer on!

If you were the Seller, would you accept an offer without loan pre-approval, take your home off the market, just to find out later the buyer couldn't get the loan to buy your house? Of course not. That's why LOAN PRE-APPROVAL is necessary!

As a Buyer, having the Loan Pre-Approval letter in hand when making an offer gives you a position of negotiating strength. If you are competing with another buyer for the same home, you will win the offer every time, even at a lower price, if the other buyer hasn't been pre-approved and you are!

Seller's know there are more buyers than inventory! And thats a fact in most communities. In most cases, Sellers have the luxury to pick and choose which offer they want to accept. The Buyer who is prepared, and can provide a Pre-Approval Letter from a lender, is usually the Buyer who achieves their goals.

Click here to get a Free Loan Approval Now!

3. Immediately open an account with a National Bank (such as Bank of America, Wells Fargo, etc) in the community you're moving to. You can change it later. This is a precaution that we can explain that simplifies and speeds money transfer if it becomes necessary. Do this in the first couple days you arrive so you don't forget. $100 deposit is all you need to make. Start your checking series in the thousands so you are appear to be with the bank for some time.

4. Use the website www.ConnectRealty-Puget Sound.com to investigate community activities, neighborhood reviews, school information, crime reports, etc., yes, even search for properties ANYWHERE IN THE COUNTRY!

Folks, we have worked three long hard years on this site concept and it has become one of the highest rated Real Estate Sites that any agent in this country has On-Line. Over 5,000 Pages of data supports the information clients seek. It's awesome! It gets better with each passing month! All with our Clients in mind. Designed to answer your concerns about anything related to Real Estate, Jobs, etc.

5. Stay in contact with YOUR LENDER and YOUR REALTOR on a weekly basis.

6. Keep your REALTOR and LENDER advised of your current phone numbers and addresses at all times. Every time they change, let both these folks know immediately. You never know when we need to contact you promptly!

7. Be sure you understand the process of INTEREST RATE LOCK. DO NOT assume your rate is locked. It requires q request from you to the Lender. The Lender DOES NOT lock it automically. It's YOUR responsibility. You need to IMMEDIATELY confer with your lender on this issue.

8. Understand what EARNEST MONEY is all about! If you dont know, PLEASE ASK!

Be prepared to submit EARNEST MONEY when you make an offer.

Understand why and how EARNEST MONEY is used. Your REALTOR can explain. If you only have $1000, don't be bashful, let your REALTOR know. Maybe you don't have anything for earnest money saved up? That's OK, tho it weakens your offer considerably, the realtor should know of alternative action when NO MONEY IS AVAILABLE! Beryl know's how! ASK HIM!

9. No matter who guarantees your loan (VA or FHA), they DO NOT guarantee the integrity of the property you're buying! That is your responsibility.

What does that mean? ORDER A HOME INSPECTION! The $325-$400 you'll pay will give you the peace of mind that your home, before you moved in, was, for the most part, free of defect, and a Certified Home Inspector working for YOU will go through a check list of structural, systems, and general inspection items throughout the property, alerting you also to pests, safety concerns, etc. It will be the BEST MONEY you will spend on this transaction!

Your realtor can provide you recommended names of inspectors in the area. It is your responsibility to schedule the inspection (usually no later than 7 days following the mutual signing of the purchase and sell agreement). The fee is between you and the inspector and is most often due on the day of the inspection. You are encouraged to be there to hand the inspector the check as they go over the inspection with you.

10. If more than one person is to be buying this property (most commonly married couples), yet both are not planning to be available to sign the offer, it is Highly Recommended that a Power of Attorney be drawn up so one person can sign on behalf of the other for the specific purpose of purchasing property and obtaining a loan.


The DONT's...


1. DO NOT charge a single item that causes your credit balances to increase during the time you are trying to get a loan!

2. DO NOT apply for any credit no matter how tempting it may be. (If you already have, call up the creditor and cancel the application immediately!) Remember, no credit activity until AFTER closing. Failing to heed this warning may cost you loan approval.

3. DO NOT change jobs to a different career path until after your home closes. If you have no choice, talk with your lender immediately about the impact on loan processing and you can be advised accordingly).

4. DO NOT pay off debt voluntarily without the recommendation of the lender. There may be some debts that are more inmportant to pay off first and its should be mutually discussed before any action is taken.

5. DO NOT START HOME SEARCHING until you have obtained a FREE Loan Approval from a LENDER.

CLICK HERE to accomplish this all important step!

6. If you're not Pre-Approved for a loan, and don't have a Pre-Approval letter in hand, then WHY HOMESEARCH? Aren't you setting yourself up for a big let down? If you find the home today, what are your chances of buying it without a loan? Isn't it best to get a lender to endorse your purchase intent first?