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Frequently
Asked Questions |
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Q: Why buy instead of
renting? |
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A: There is the
personal satisfaction of
owning a home - your
piece of the rock. When
you own you are in
control not the
landlord. If you want to
knock a wall down go
ahead. Then there are
the enormous financial
benefits that come with
owning your own home.
The belief that owning a
home is more expensive
than renting is
generally not the case.
There the tax benefits -
You can deduct the cost
of your mortgage from
your taxes and you can
deduct the property
taxes you pay as a
homeowner. And you gain
equity as your home
increases in value. When
renting you write a
check with no financial
returns. |
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Q: Do I need a real
estate agent? |
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A: There is so much
information at a
prospective buyers
fingertips on the
internet, today. The
internet is a great
place to start and get
ideas of what's
available, where and at
what price. You can
also find answers to
many financing questions
on the net. Still, using
an agent is a good idea.
So many details go into
buying a home and a
experienced real estate
agent can guide you
through the entire
process and save you
time and money. |
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Q: What should I do
first? |
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A: The first step for a
potential buyer is to
get your credit reports.
Do this step at least
six months in advance so
you will have time to
remove any
discrepancies. Get
pre-approved (not
pre-qualified) Meaning a
lender has committed to
loaning you money
depending on the house
you choose to buy.
Pre-approved buyers are
much more attractive to
sellers alleviating
their worries of
financial difficulties
complicating the
process. If a seller
need to sell the
property quickly your
loan is ready.
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Q: How much should I
offer? |
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A: An experienced real
estate agents help can
be vital here. There are
a few things to
consider: Is the asking
price in line with the
CMA? The houses
condition - will you
need to spend additional
money to make it the way
you want it? How long
has the home been on the
market? Can you afford
what you offer? Is this
the home you really
want? A knowledgeable
real estate agent can
help you answer each of
these and any other
offer questions that
might arise.
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Q: What is Agency
Disclosure? |
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A: Agency
Disclosure is a state
requirement that
discloses to you the
principal (the buyer in
this case) who the agent
or agents represent in
the real estate
transaction.
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Q: What does an
agreement for buyer
representation include? |
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A: It is a contract with
a beginning and an
ending dates. In it you
recognizes your
willingness to be
represented by the
company and it agents.
It included what
compensation, if any you
will pay for real estate
related services. The
agreement states whether
you'll work with one
company or several.
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