BUYING & SELLING STRATEGIES FOR RIGHT NOW!

WHEN BUYING, YOU NEED A SOLID STRATEGY TO HELP YOU HAVE A COMPETITIVE EDGE IN TODAYS MARKET!

WHEN BUYING...

Strategy #1  Choosing a Lender/Getting Pre-qualified:

Sellers want to know if you can qualify to buy their home before showing their home to you! You need to know what you can qualify for before looking. In determining what you can afford to buy, you will need to know what you will need for a down payment. Most banks require a 20% down payment, but some will allow as little as 10% if you have a excellent credit rating. But remember the less you put down probably means you will be paying more in interest and loan fees. Another good strategy is to spend no more than 30% of your pre-tax income on housing costs: this should include your mortgage, homeowners' insurance, property tax and maintenance costs of about 1% of the value of your home.

Lenders will use your credit score to determine the interest rate they will give you on your mortgage. The rate between a decent and a terrific credit score can be a difference of tens of thousands of dollars over the life of a loan. To be an more attractive risk you will need to improve your rating. One thing you can do to improve this is to pay down your credit-card bills. Lenders prefer to see that your debt does not exceed your available credit by more than 30%. But once you have paid off your accounts do not close them, because this can actually hurt your credit score. Your Lender can give you even more ideas and information on improving your credit ratings.

Another factor is the type of loan you should get, Your best bet is a 30 year fixed rate mortgage. Many homeowners regret getting adjustable rate mortgages which had low interest rates at first and then more than doubled in recent years. You should try to get at least 3 or more GOOD FAITH ESTIMATES from different lenders to help you determine if you are getting the best loan for your circumstances. A Local REALTOR/ BUYERS AGENT can be a great resource in reffering Lenders that have helped their past clients get the best  loans and interest rates. The Lender of your choice can help you determine which terms and loan is best for your circumstances.

Strategy #2

Choosing a Local REALTOR/ BUYERS AGENT:   

The Seller will have someone representing them, You need someone who will look out for your Best Interest! A Local REALTOR/ BUYERS AGENT can help you find the Home that is right for you, your Dream Home. Once you have found the home you want to make an offer on, you will need to determine what you are willing to offer.

The Bidding wars of 2006 are very uncommon in todays market, Sellers are more willing to deal when it comes to helping with Closing costs and or lowering the price. Your Local REALTOR/ BUYERS AGENT can help you determine what is reasonable to ask for/ offer in your area. And can help you to negotiate for your best interests. Your REALTOR can obtain a pre-qualifing Letter from your Lender to send with your offer, which will also help in your negotiations. Your Realtor should also explain  and go through the Real Estate Purchase Contract (REPC) with you and help you write up the offer. Your Realtor should then present the offer to the Sellers Agent, in so doing should represent your best interests and negotiate for the best price for you, the Buyer.

After reaching an agreement on terms and once they have an acceptance on your offer, Your REALTOR should then turn in the accepted REPC to your Lender and Title Company of your choice. Your REALTOR can also help you in choosing and setting up an appointment for Inspection/ Inspector, Home Warranty, Title Company etc... as applicable. Your REALTOR should help you keep tract of all your REPC Deadlines and then should go with you to the Settlement/Signing. After the home has closed and recorded with the State, Your REALTOR should help you set up possession as per your REPC agreement.

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BUYERS: I WILL HELP YOU MAKE ONE OF THE MOST IMPORTANT DECISIONS OF YOUR LIFE, FINDING YOUR DREAM HOME. I AM COMMITTED TO FULFILLING YOUR NEEDS WITH THE HIGHEST LEVEL OF PROFESSIONALISM, EXPERTISE AND SERVICE YOU DESERVE!

  I SPECIALIZE IN DREAM HOMES IN THE PARK CITY, HEBER VALLEY & MIDWAY AREAS OF UTAH!

I'M GENEIE AND "I WANT TO BE YOUR FAVORITE LOCAL REALTOR/ BUYERS AGENT!"

CALL GENEIE MCINTOSH AT (801)792-9288

OR VISIT MY WEBSITE TO SEARCH THE UTAH MLS FOR FREE!

www.YourFavoriteExitRealtor.com