Tips for Buyers

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Tips for Buyers

1. Talk to a lender first!

2. Ask your lender for a GFE (Good Faith Estimate)

3. Make all your payments on time to ensure a good credit score.

4. Save money for a down payment and closing you are considering.

5. Spend a day in the neighborhood you are considering.

6. Have a good file system for your records.

7. Retain previous years' tax documents, pay stubs, bank statements, etc., for lender required documentation

8. Go online and visit Web sites about the town/city/neighborhood.

9. Investigate other homes for sale in that neighborhood.

10. Investigate what homes have sold for in that neighborhood.

11. Anonymously investigate a selection of pre-screened REALTORS®.

12. Work with an experienced buyer's agent only.

13. Order Home Owner's Insurance to be effective day of closing.

14. Read: Information about Brokerage Services.

15. Utilize free online tools to arm you with as much knowledge as possible.

16. Create a budget.

17. Get inspections.

18. Buy based on needs, not wants.

DON'T

1. Start looking for homes until you have been pre-approved by a lender (http://www.collegestationonline.com/ )

2. Assume that your dream neighborhood is the same at night as it is during the day.

3. After the offer is accepted, notify your lender of acceptance and provide all financial information needed in a timely manner. Don't delay!

4. Don't wait before placing an offer. Time is of the essence!

5. Think that sellers or residents will tell you every hidden secret about a neighborhood.

6. Assume all houses are comparables--during drive-throughs make sure you can find out which ones you should be looking at for price advice.

7. Forget to ask your REALTOR® about it--they are often experts.

8. When driving around, DON'T call the seller's agent on the sign. CALL YOUR BUYER'S AGENT! The person who posted the sign represents the seller...not you!

9. Do anything to materially change your financial situation before purchasing a home.

10. Buy a house for its décor. Location, size, and amenities are far more important.

11. Buy the most expensive house on the block.

12. Buy more than you can afford.

13. Change jobs if you are looking for a house to purchase.

14. Move money around in your accounts before making an offer.

15. Apply for credit cards in department stores right now.

16. Underestimate the value of a trustworthy & EXPERIENCED real estate agent's expertise!

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GREAT ADVICE FOR BUYERS AND SELLERS
     1.   14 Questions to Ask a Realtor
2.   Five Powerful Buying Strategies
3.   Making the Move Easy on Your Kids
   4.   Six Ways To Beat The Stress of Buying A Home
   5.   Some Different Reasons to Own Your Home
6.   Things You Should Know About Moving

Buyer/Seller Representation
Information about Brokerage Services

Realtytimes Myke's Realtytimes news letter

You'll find:
· Buyers' Advice,                           · Sellers' Advice
· Relocation Advice,                      · Moving Advice
· Advice For Borrowers                · Homeowners' Advice
· Assisted Living                            · Renters' Advice
· Apartments                                 · Community Profiles
· New Homes                               · Trends

PROS AND CONS OF BUYING NEAR CAMPUS
The Pros and Cons Of Buying Near Campus
By TERRI CULLEN: Staff Rporter of The Wall Street Journal

US POSTAL CHANGE OF ADDRESS FORMS
Complete an eletronic Change of Address Form by entering your address info; then print and submit the completed form. Additionally, you can use the entered information to print Address Change Notification Letters and mail them to family, friends, and business associates to let them know of your move.

PACKING TIPS
It is strongly recommend that you PLAN your move as far in advance as you can. Download this 6-week Planning Checklist from Mayflower.

MOVING SUGGESTIONS AND TIPS
Great Tips for the Move These moving tips are great for anyone moving in, out, or across town. Church groups may find it useful to alter this list to meet their needs and then distribute it to families who are about to move.

For reccommendations regarding professional moving companies, visit the 'Resources' tab at the top of the page, then 'Movers and Haulers'.

THE 10 MOST FORGOTTEN ITEMS IN A MOVE
What Did You Forget?

LEVERAGING YOUR MONEY:
     One of the greatest financial aspects of buying a home is the ability to leverage your money. Simply put, leverage allows you to use a small down payment and financing to purchase a larger investment. For example, if you bought a $125,000 home with 10 percent down, you leveraged the $12,500 down payment to purchase an asset worth 10 times that amount!
     The benefits of leverage really become apparent with appreciation, or the rise in value of a property. Using the above example, say you were to live in the house for 5 years, and during that time property values in your area were to rise an average of 2.5 percent a year. Your home would then be worth over $141,000. By putting only 10 percent down, you get to enjoy the appreciation for the full amount!
     In addition to the 10 percent down, you'll also have to make mortgage payments. But with each payment, a certain amount of money is being used to pay down the principal balance that you owe. This is called building equity. So in the event you sell your house, not only can you realize a profit from your leveraged money, you also have a chance to pay yourself back for the money you've put in over the years. No wonder so many people consider a home an excellent investment!

SUGGESTIONS AND ADVICE
Great suggestions and advice for both, buying, and selling your home!