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Tony Brust Real Estate Agent, REALTOR, ABR, e-PRO, Pekin & Peoria IL Area

*Update* on using the First Time Homebuyer Tax Credit as Downpayment

NAR announced that the First-time Home buyer tax credit can now be used as part of a down payment. More information can be found at the following link:

http://www.realtor.org/RMODaily.nsf/pages/News2009052901?OpenDocument&LID=RONav0019

***Buyers will still be required to put down 3.5% per HUD guidelines; however, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.***

Any buyers or sellers who have questions can call or text me at 309-208-7748 or email me at mailto:fthbinfo@wesellpekin.com Visit www.WeSellPekin.com or www.TonyBrust.comfor links to help you search for homes, info on obtaining a mortgage or other helpful tips

First Time Home Buyer tax credit can now be used for Downpayment

NAR announced today that the Firt-time Homebuyer tax credit can now be used as part of a downpayment. More information can be found at the following link:

http://www.realtor.org/press_room/news_releases/2009/05/tax_credit?lid=ronav0019

Any buyers or sellers who have questions can call or text me at 309-208-7748 or email me at mailto:fthbinfo@wesellpekin.com Visit www.WeSellPekin.com or www.TonyBrust.com for links to help you search for homes, info on obtaining a mortgage or other helpful tips

INTEGRITY

Now there is a word that gets used and abused a lot! Many people claim to have integrity, but few even know what the word means. Merriam - Webster's defines Integrity as:

Main Entry:
in·teg·ri·ty            Listen to the pronunciation of integrity
Pronunciation:
\in-ˈte-grə-tē\
Function:
noun
Etymology:
Middle English integrite, from Middle French & Latin; Middle French integrité, from Latin integritat-, integritas, from integr-, integer entire
Date:
14th century

1 : firm adherence to a code of especially moral or artistic values : incorruptibility

2 : an unimpaired condition : soundness

3 : the quality or state of being complete or undivided : completeness

synonyms see honesty

Just because you put the word to use, or claim to have it, doesn't mean you automatically do. One must act with Integrity to have Integrity. Keep your word (honesty) and you are on your way to being able to use the word properly!

For all my years in business, I have followed this code. Former clients of Brust Distributing Inc. will tell you that my word was always trusted, because I proved time and time again that I was an honest person. I learned at a very young age it is easy to catch a liar, so don't become one. Sometimes I have the unfortunate task of telling people things they do not want to hear, but in the end it has always served me well to be honest, even when it is hard.

Are interest rates the most important factor of a loan?

Here is a list of some important questions to ask your loan originator before choosing a bank or mortgage company:

1. Which Type of Loan is Best?


2. What is the Interest Rate & Annual Percentage Rate


3. What are the Discount Points and Origination Fees?


4. What Are All the Costs?


5. Will the Lender Guarantee the GFE?


6. Do You Offer Loan Rate Locks?


7. Is There a Prepayment Penalty?


8. Are You Equipped to Approve Loans In-House?


Do not shop based on interest rate alone. If you need help finding a good lender, I have a list of local lenders available for you to interview and contact information for each. Information can be found at http://www.WeSellPekin.com or http://www.TonyBrust.com or call me at 309-208-7748

Dual Agency explained

What is Dual Agency?

Dual agency occurs when a real estate agent is "representing" both buyer and seller in the same transaction. Since the agent has promised a duty of confidentiality, loyalty and full disclosure to both parties simultaneously, it is necessary to limit these duties in this situation, if both parties consent.

If you find yourself involved in a dual agency relationship, make sure that you completely understand dual agency definition.

This relationship involves the following limitations:

  • The Agent will deal with the Buyer and the Seller impartially
  • The Agent will have a duty of disclosure to both the Buyer and the Seller
  • The Agent will not disclose that the Buyer is willing to pay a price or agree to terms other than those contained in the Offer, or that the Seller is willing to accept a price or terms other than those contained in the Listing
  • The Agent will not disclose the motivation of the Buyer or the Seller to sell unless authorized by the Buyer or the Seller
  • The Agent will not disclose personal information about either the Buyer or the Seller unless authorized in writing
  • The Agent will disclose to the Buyer the defects about the physical condition of the Property known to the Agent

Before receiving an offer both you and the other party will be asked to consent in writing to this new limited agency relationship.