"Mid pleasures and palaces though we may roam Be it ever so humble, there's no place like home." John Howard Payne
With so many borrowers losing their homes, the dream of home ownership has become a nightmare. No longer are potential buyers EXCITED about buying a home. How do we get them excited again? Well, when they see so many people "drowning in the pool of real estate, why would they jump into the pool"?
EDUCATION! Educate the homeowner about the process. Teach them the "Steps of Home Ownership".
•2) Select a realtor
•3) Go "shopping"!
•5) Negotiate price
•6) Select attorney
•7) Sign Purchase and Sale Agreement; provide deposit to seller
•8) Home Inspection (10 days to complete) Issues with Home Inspection? Discuss with realtor/listing agent and seller. If items are discovered which you wish to repair: renegotiate with seller OR ask the seller to repair OR request 203k rehab loan OR cancel contract: go find a new home.
•9) Appraisal: provide check to the lender
•10) Home appraisal issues:
•1) Repairs needed? Rehab loan possibly needed (203K)
•2) Value?: renegotiate
•11) Obtain homeowner's insurance: mortgage clause for binder provided by lender.
•12) CLOSE! CONGRATULATIONS!!!!!
•13) 1st time Homebuyer?: $8000 credit! Move-up buyer? $6500 credit! Inquire about eligibility.
•14) Change your W4 exemptions at your company for the number of individuals in your household: Why let Uncle Sam have an "interest free loan"?
•15) Mission accomplished: YOUR new home. Thank you and please tell your family & friends of your success with your "team".
Take the fear out of the process, make them happy at the closing table and they will tell their friends that "jumping in the pool of real estate " is not so bad after all.
Yes, Dorothy, there is "No place like home".
Seacoast Mortgage Corporation
401-305-6906 or 508-243-1190
Residential & Commercial Financing
"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR financial strength."