Questions –

Do You Think that the Real Estate Process is about Buying a Home? 

Do You Think You DON'T Need An Agent Because You Can Do This All By Yourself?

I hate to tell you BUT real estate really is about the relationship that you have with your REALTOR® and the other relationships in the process such as your mortgage lender.  The TRUST factor is a big deal that's why we do all that we can to earn your trust, treat you fairly, and orchestrate the closing so that everything runs smoothly.

I run into several people a day and have people give me the funniest expressions when I tell them I'm a REALTOR®.  In fact, many people are skiddish to use a REALTOR® because they are trusting them with one of the biggest purchases of their lives and it is a scary experience.  That's why TRUST is biggest factor and why the relationship between the REALTOR® and the client has to be solid.  You are trusting the advice of a professional that should be steering you in the right direction and looking out for your best interests.

TEAMWORK!!!

When I meet for the first time with a client, I spend a lot of time talking about agency relationships, trust and communication.  In fact, I might possibly spend more time talking about "Teamwork" and the relationship factor, than anything else.  My promise to you is to give you sound, honest advice.  There have been several times that I've "walked away" from taking a listing or have seen some things that didn't "look quite right" and let the client know.  My duty to you is to work for you, therefore I need to give the best advice for you.  My personal slogan is, "It's All About You!"  I was seriously considering, "Doing the Right Thing" as my slogan.

 With all that being said, it's important to know that a good REALTOR® is always working in your best interests and a lot of times behind the scenes to make sure the transaction is going smoothly.  Many times, there are issues that you may never know about that we have just "handled."  That's our job and the way we prefer things to happen.

Obviously, You're Goal is to Purchase a Home 

Yes, it’s about purchasing a home but more importantly, it is about the communication channel between you and your REALTOR®.  If you don’t feel comfortable with your REALTOR®, then you are in the wrong relationship.

Trust is absolutely crucial.  Remember, this is the person that will be representing you. Make sure that they represent your interests, not their own.

A good agent (such as myself ) has the knowledge and experience that comes from years of helping both buyers and sellers.  It’s a REALTOR'S® job is to be educated and keep you informed of everything so you can make the best decisions.  Having an expert on your side is the best way to make sure you get the best possible deal.

Some other key players in the home buying process are: the mortgage lender, the appraiser, the home inspector, and the title company.  These people all play an important part in putting together and closing the home purchase.  Most REALTORS® will have relationships with people they can trust to do their job, make sure you have a REALTOR® you can trust who knows how to do his or her job!

In my opinion, there should be no "hidden costs".  So what exactly do I mean but the phrase "hidden costs."  I'm talking about the extra costs that come with purchasing a home.  A lot of people seem to be suprised when it comes to the point of making an offer on a home.  In fact, I've learned to cover some of these issues before we actually get to the point of writing an offer and in our initial consultation.  Here's what you need to know:

1. You will be required to put down a "good-faith" earnest deposit.  Typical earnest deposits are at least $1000.00 but I've seen a $500 deposit.  Most creditors and sellers are uncomfortable with the smaller deposit amount.  More is always better!
2. Once the purchase agreement is accepted and all the key points, have been negotiated, you as a buyer have 10 days to complete an inspection.  I ALWAYS suggest an inspection (even on a brand-new home).  A good inspection will cover: structural, plumbing, electrical, roofing, termites, radon.  You also have the option of testing for lead-base paint and a water test.  Inspections are always optional but definitely a great idea.  I call inspections an insurance policy.  We pay for insurance IN CASE we get an accident, with the obvious hope that we never do get in an accident.  An inspection will hopefully uncover what issues may be present in the home that you or the seller may want to take care of before the completion of the sale.
3. I don’t know if I should call these hidden costs because if you are getting a mortgage, the mortgage lender should be disclosing all the costs involved with the transaction.  The point is that just because you have an accepted offer on a house for $150,000, realize that the true costs of the home may be more like $154,000.  Depending on the type of loan you are getting you may be paying for mortgage insurance, a year of hazard insurance, appraisal fees, inspection fees, recording fees, title insurance, closing fees, and/or documentation fees.  Every mortgage company differs in their closing costs and their designated charges, be sure to ask for a ‘Good Faith Estimate’ so that there will be no surprises when it comes to closing on your wonderful new home!

They say, "Knowledge is Power".  Use these helpful hints to guide you in the process of buying your new home.

 All joking aside... we do live in Michigan and it's a great place to live.  I can truly say this because I have lived outside of the mitten and visited the West Coast which is absolutely beautiful.  Seattle, WA has some fantastic places to visit and live as well but nothing beats the Michigan summers and the 11,000 lakes that are in the state.  I suppose some people like winter but I'm not one of them!  So, I bear it with the rest of you and do business here by selling real estate.  I know that you have heard it before but it TRULY IS THE TIME TO BUY!!! 

   It is a buyer's market.  We have fantastic interest rates  AND people are getting some deals that just blow me away.  So, if you are ready to start shopping... I wanted to give you some tips to help you through the process.  Even if you're not a first time home buyer, I'm sure you'll find out things that you never knew before and some that just make sense but be sure to check in often for the next helpful tidbit.

So you've heard from friends/loved ones that "Now is the Time to Buy!"  or maybe you have seen ads promoting that message.  It's kind of an interesting process when someone gets the "bug" to buy a home.  I find that people "out of curiousity" start attending open houses, or looking online to see if there is something out there that might fit what they are looking for.  It usually starts with "curiosity" mode before any of the other steps get taken in purchasing a home.

One of these steps involves the mortgage company.  Unless you are independently wealthy and planning on buying a place with "cash", most buyers have to go through this step.  Mortgage guidelines are changing all the time but one thing remains the same... it is always better to be PRE-APPROVED then PRE-QUALIFIED.  To explain the difference, you have to understand that a pre-approval holds a lot more weight than a pre-qualification.

In the simplest of terms... the PRE-QUALIFICATION is a phone call made to a mortgage company representative to which you give them the amount of money you make, your debt load, and your social security number so that they can see what your actual credit score is.  If you are buying a home with another applicant, you would need to divulge the same information on them as well.  Based on debt ratios (can you afford all the debt you currently have with the amount of income you bring in), and your credit score, the mortgage representative can give you a "Verbal" approval and let you know about how much you can afford to go shopping for.

Here's where the PRE-APPROVAL and PRE-QUALIFICATION differ.  Remember, all those things that you told that mortgage person?  A PRE-APPROVAL actually requires you to go in and bring in your W-2's, paystubs, and any other information they may require.  With the paper verification of income, the mortgage lender now feels more comfortable giving you a PRE-APPROVAL letter stating that you are qualified to purchase a home. 

• By the way, the letter is a very important piece of paper for you as far as a bargaining piece.... It shows that you are serious and actually qualify to purchase the home that you are hoping to put a bid on.
• So, as you may have guessed, my advice: "Go get PRE-APPROVED with a mortgage lender."  If you need recommendations of a few good companies, let me know I would be more than happy to help point you in the right direction.