Eric Elegado Discover The Ways You Can Make The Most Out Of Your Real Estate Purchase - PowerPoint PPT Presentation

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Eric Elegado Discover The Ways You Can Make The Most Out Of Your Real Estate Purchase

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Eric Elegado Certified tips provider. Selling a home when you are in a huge amount of debt can be scary and overwhelming. How quickly your home sells often depends on the real estate agent you choose. You can use the guideline that has been provided below to learn what to look for when hiring a real estate agent. – PowerPoint PPT presentation

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Title: Eric Elegado Discover The Ways You Can Make The Most Out Of Your Real Estate Purchase


1
Eric Elegado Confidently Buy a Home with These
Tips
  • Eric Elegado Expert tips provider. In these
    recessionary times, there are a myriad of
    challenges to getting a mortgage. The thing is,
    it's probably the best time to buy too, so don't
    be put off. Read this article to get some great
    ideas on how you can get the home that you want,
    at the price that you want.
  •  
  • Insisting on a home inspection can save you
    thousands of dollars. There are many things that
    can go wrong in a home that are not easy to see.
    One example is the electrical system. There can
    be problems in the wiring that you cannot see by
    simply turning on a light. Having a real estate
    inspector come in, can help reduce the chances
    that you will get any unwelcome surprises, after
    the purchase.
  •  
  • Research the area as well as the property. Try to
    find out as much as you can about natural
    disasters that may have occurred over the years
    as well as the local crime rate. Find out about
    what local highway access so you can map out your
    route to work, school or shopping.
  •  
  • Mortgage lenders will use a housing expense-to
    income ratio to calculate how much of a mortgage
    you will be able to afford to pay for. They
    calculate the property tax payments, principle
    and interest on the loan and insurance premiums
    on the home and use it to determine your
    potential payment to see if it is affordable.
  • Eric Elegado Expert tips provider. Do your
    research before starting the search for a home.
    Determine what sort of neighborhoods will fit
    your lifestyle and dreams. Keep in mind that a
    house is a long term commitment and your needs
    may change over time. Buying a home in an urban
    hip downtown may be perfect now, but you may wish
    you had chosen differently when you have kids so
    look at your dreams for the future and plan
    accordingly.
  •  

2
Before purchasing a house, look for any problems
you can find. Try and get the seller to fix as
many as these problems as you can before you
purchase the house. The more the seller fixes,
the less you have to fix. If you're trying to
flip the house, that means less money that you
need to put into it.   Potential buyers should be
sure to get everything in writing. This is
especially important when working with a builder,
as options and upgrades which are verbally
promised may not end up being honored. Ask your
Realtor to draw up a very specific contract and
be sure both parties sign it. This can help you
to avoid frustration and confusion on closing
day.   Before making a final decision on a home
purchase, you'll want to have the house checked
out by an inspector. Choose one yourself, instead
of using one the seller or the seller's agent
suggests. A good inspector will point out things
that are wrong with the house, but only to a
certain point -- there are things that can be
hidden even to a trained eye.   Never be afraid
to negotiate a better price. With the weak
housing market, perhaps the seller will be eager
enough to reduce the sales price in order to
sell. Those with great credit can pretty much
call the shots these days. Although interest
rates are at historic lows, few borrowers qualify
and buyers are so scarce that they can often name
their price. If a home you are considering
purchasing has had an addition, check to make
sure that it meets all code requirements and that
the proper permits were obtained, in order to
build it. This could come up during the lending
process and make it nearly impossible, or
difficult to complete your financing.   If you
are struggling with financing to buy a new home,
be creative. There are many ways beyond the
standard 30-year, 20-down mortgage to get
financing for your home. Be sure to mention to
your lender if you are a first-time homebuyer, as
there may be programs available to you that way,
as well.   Eric Elegado Top service provider. Try
to negotiate for extras that translate into less
out-of-pocket expenses for you. Getting extras
like appliances are nice,  
3
but the best ones are like payment of closing
costs, property taxes, and credit for making home
repairs. These extras will ease your financial
burden more than anything else that the seller
can offer you.   If you are looking to purchase
real estate, it is important to do your research
on any companies with whom you will be conducting
business with. There are many companies who prey
on first time home buyers by using predatory
lending techniques. Check with the Better
Business Bureau before doing any business to
insure the company you are dealing with is a
reputable one. This will save you headaches in
the future.   Renting an apartment becomes much
easier with decent credit since most apartment
managers have access to credit scores. Plus,
multiple credit checks will eventually damage
your score so only apply to one apartment at a
time. Once you have your apartment, pay your rent
on time so that it does not become a debt on your
credit report.   When shopping around for a new
home and you plan on keeping the furniture that
you already own, make sure that it will fit the
new home. Nothing is worse then moving in and
realizing that your brand new king size bed will
not fit into your bedroom if you plan on also
including the dresser in the room.   When looking
for a new home, make sure it has enough closet
space for your items. Not only is this important
for you and your family's belongings, it is also
important for potential buyers should you decide
to sell your home in the future. Walk-in closets
are a positive bonus! Eric Elegado Expert tips
provider. It's isn't necessarily impossible for
you to surmount all the challenges brought about
by the economic crisis and actually end up making
a good real estate deal. It can happen. That's
why you should use the information you just
learned here - it can help you, just like it's
helped many others.    
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