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WHY YOU SHOULD USE A REALTOR®

ALL Real Estate Licensees are NOT the same. Only Real Estate Licensess who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTORS® logo on their business cards, marketing materials, and sales literature. REALTORS® are committed to treating all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But, if you’re still not convinced of the value of a REALTOR®, here are more reasons why you should use a REALTOR®:

1. Your REALTOR® help you determine your buying power.
2. Your REALTOR® has many resources to assist you in your home search.
3. Your REALTOR® can help you negotiate.
4. Your REALTOR® provides due diligence during the evaluation of the property.
5. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.
6. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.
7. Your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties.

Pre-Qualification vs. Pre-Approval

WHAT IS PRE-QUALIFICATION?

Know how much house you can afford before you begin your home buying search so that you know any financial limitations on your purchase price. Lenders offer free, no-obligation pre-qualification and pre-approval to help you determine your qualifications guidelines early in the loan approval process.

Pre-qualification is the process of determining how much money a prospective homebuyer will be eligible to borrow prior to application for a loan.

THE KEY ELEMENTS OF A PRE-QUALIFICATION ARE:

• Analysis of income, assets, debts, and other liabilities.
• A credit report is pulled to verify that general credit parameters are met.
• There is no verification of income, employment, and assets at this time through supporting documentation.

WHAT IS A PRE-APPROVAL?

A pre-approval is somewhat more involved that a pre-qualification as it requires you to actually apply for the loan and submit certain verifying documentation for income, assets, and liabilities.

THE KEY ELEMENTS OF A PRE-APPROVAL ARE:

• Full analysis of income, assets, debts, and other liabilities.
• A credit report is pulled to verify that credit parameters are within an accpetable range for the loan program that you are applying for.
• Supporting documentation must be supplied such as proof of income, assets and employment.
• Some lenders may charge an up-front application fee for a credit check and a charge for an Appraisal may be required at this time.

Even though a pre-approval requires a bit more up-front work on your part than pre-qualification, a pre-approval offers more assurance that there will not be those last minute problems qualifying. Getting pre-approved can also give prospective buyers leverage when they make an offer on a house, as Sellers, the Listing Agents, and Builders tend to take offers more seriously if the potential buyer has already been pre-approved by their lender.

HOMES FOR SALE

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I CAN HELP YOU FIND THE RIGHT HOUSE

• Pre-approval comes first…. Then you will know exactly how much house you can afford. You can start house-hunting and sellers will know your offer is solid and that you can buy.
• A home that you can afford…. Affordability is probably the single biggest concern of first-time home buyers. A loan Officer can help you determine how much you can afford, financing options that fit your budget, and provide you with the equity and tax benefits that come with home ownership. Now you are ready for your REALTOR®.
• The right community, the right schools…. Good schools, place of worship, convenient shopping, and local services are just a few of the most important considerations you make when choosing a community in which to live. There is no better source of information, and about individual neighborhoods, than asking your neighbors and what your Real Estate Professional can provide you.
• Protecting against unexpected repairs…. When you are buying your first home, cash reserves can often be depleted by your down payment and moving expenses. Wouldn’t it be nice to know for certain that you will have no major worries? You can buy a home covered by the Home Protection Plan.
• Your REALTOR® is always there for you…. Real Estate is not just about property, it is about people. As a Real Estate Professional, I have proven results and I’m always there for YOU!