Once pre-approved, don't do anything to change your credit report
Once you're pre-approved, do not buy anything on credit, or even let anybody do an inquiry on your credit until you close your new home; many lenders re-check customers' credit before funding. An inquiry is recorded on your credit history when somebody checks your credit, like a car dealership. It lowers your score, and can cause a loan to be denied if you're marginally approved. An actual credit purchase also raises your back-end ratio, which is even more dangerous. Talk to your loan officer before you consider making any credit purchase.CONTACT TONYA PEEK OR TIFFANY SHARKEY 214-356-4472 FOR ALL YOUR REAL ESTATE NEEDS.
Risk vs. reward: Payoff depends on what the client wants
Whether you're buying or selling a home, putting yourself in the shoes of those involved with the property-either as homeowner or prospective homeowner-can go a long way toward real estate success. For example, if a buyer isn't pre-approved, they're passing on that risk to the seller.
If a property is in great condition, the long-term risks of the buyer are minimized-and they should expect to pay a higher price because they're taking less risk on a property. The same goes for properties that have been pre-inspected. If the seller fixes repairs in advance, the reward will be higher for both the buyer and the seller.
I always tell buyers to look at a property in the context of its condition and value based on the degree of maintenance and repairs they expect to make over the years. Some properties are more maintenance free than others; it just depends on what the buyer wants in a house. But by being realistic from the outset and setting your expectations, the reward will usually outweigh the risk.CONTACT TIFFANY SHARKEY AND TONYA PEEK FOR ALL YOUR REAL ESTATE QUESTIONS 214-256-4472.
Finding and keeping that top-notch REALTOR®
When searching for a REALTOR® online, CONTACT TONYA PEEK AND TIFFANY SHARKEY FOR ALL YOUR NORTH DALLAS REAL ESTATE NEEDS 972-977-2254.There are some suggestions to help you find that true professional who will make all the difference for you:
We want to be able to provide you with the full range of our professional skills, so communication is essential. To make the best use of everyone's time, buyers will be asked to obtain pre-approval before beginning the home-searching process. Also, you might want to ask about buyer's representation. This makes for a true REALTOR®-client relationship and gives REALTORS® the ability to advise you with their professional opinion once negotiations begin.
Be prepared to view a range of homes, including some in addition to the ones you've previewed online, because the REALTOR® will be knowledgeable and have access to more information about the market. Almost always, your REALTOR® will be able to find homes meeting your criteria that you weren't aware of. In short, a good REALTOR® will listen carefully to your needs, wants and time requirements, and weigh them accordingly to find you the best home for your money.
Take an impromptu visit
When you begin narrowing your selection or you find that you've fallen head-over-heels in love with a certain house, visit the neighborhood in the evening or on a weekend.
Take a casual stroll around the block, observing other houses in the area. Are they well kept? How many have for-sale signs out front?
Talk to the people who live in the area. These are not only the people most familiar with the area, but also your potential neighbors.
Take a test drive from the house to your workplace during rush hours to get a feel for traffic. Note how far it is to schools, parks, theaters, restaurants, and convenience stores.
Once you find out if you will be comfortable living in the house, you'll be much more comfortable buying it.CONTACT TIFFANY SHARKEY OR TONYA PEEK AT 972-977-2254 FOR ALL YOUR REAL ESTATE QUESTIONS.
COUNTY CLERK Stacey Kemp has posted a new - and free - online service that will let you know when anyone attempts to change your property's documents on file in Collin County. Property Fraud Alert will notify you of any changes made to your personal or business property. The notification system is set up to help thwart people filing a fraudulent land records with the County Clerk, making it look like they own your home or business property
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Frisco homes and real estate agent specializing in homes, new homebuilders, real estate, foreclosure and investment property in Frisco TX, McKinney, Celina, Prosper, Plano, and Allen.
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