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Click Here for Part 2

At this point you have a Realtor to advise you and lead the way and you've signed a Consumer Notice and Exclusive Buyer's Agent Contract for your protection and that of your agent.   The next two steps can be done simultaneously.  It's time to get pre-approved for your mortgage and discuss what your needs are for your new home.

A good Realtor will have a good team for support.  The first person on this team that you should meet should be the mortgage consultant for a pre-approval.  You may think you have good credit or know what the going rates are but the mortgage consultant will tell you the real deal.  Also, there are many things that go into a mortgage payment besides just paying for the home like real estate taxes, home owners insurance, and possibly mortgage insurance, flood insurance and Home Owner's Association (HOA) fees.  The mortgage consultant can also give you a Good Faith Estimate (GFE).  This will tell you all the fees that will be charged in relation to the loan.

Besides learning the truth about what you can afford having a pre-approval from a reputable source is power.  When you submit your offer the pre-approval goes along with it.  When the pre-approval is from a reputable source in Chester County, one that has closed many deals with other Chester County Realtors, it adds weight to the offer and in this market a lot of weight.

Once you are aware of what you can afford it's time to talk with your Realtor about what you want in a home.  The options are endless!  

 Condo?-Townhouse?-Carriage home?-Single family home?-Are schools a priority to you?-Do you want acreage?-# of bedrooms?-# of bathrooms?-# of garage spots?-square footage?-HOA?-Finished basement?-Pool?-Fireplace?-Waterfront?

and it goes on and on!

Now that your Realtor has a good idea of what you want they can search the Multiple Listing Service (MLS) for homes that fit your criteria. And at the end of our conversation about your needs your pre-approval shouldn't be too far behind.  Once that magic number comes in I (yes me, you picked me as your Realtor, it's still my blog!) can quickly tell you if your needs are in line with reality.  I can tell you this because I'm not an armchair Realtor.  I'm out working in my field.  I know what homes are for sale in West Chester for $300,000 and how that compares to homes for sale in Glenmoore for $300,000.

Well, that's all for now folks!  Stay tuned for part four!

Krista Fuchs, Realtor.  Giving You The Attention You Deserve.

I can always be reached directly at 484-459-8025

Prudential Fox & Roach Realtors 484-875-2600

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