Are All Mortgage Rates the Same
Becoming a homeowner can be a drawn-out process that some people may find tiring and daunting. Looking over all those listings, reaching out to real estate agents, meeting with bank representatives, etc., etc.... The process involves many steps but the most important one is searching for and finding the best mortgage lender for you. If you’re going to be involved with this lender for years to come, it makes sense that you put in the hours to find the best one that will fulfill your needs.
What types of lenders are available to you
It’s All About Consumer Experienc
When a lender goes the extra mile to make sure you have all the information you will need at your disposal, the process will run a lot smoother. Sometimes a bit of hand-holding will make all the difference. Some lenders make themselves available over the phone for consultations, crunch numbers with you and even provide some of the information themselves. All these gestures contribute to smoothing out what could potentially be a bumpy ride toward becoming a homeowner.
Look Into a Lender’s Reputation
One key part of your research should include looking into any possible complaints filed against a lender you’re considering. Good thing there are nationwide organizations that keep consumers appraised of these complaints. This information is free of charge so you can look up any organization such as a bank and get a more solid image of the kind of company they are.
If they have a good standing among consumers, chances are you’ll have a pleasant experience. One thing to keep in mind is that the lending industry is so big that even if a company has some complaints filed against them, that shouldn’t necessarily be a dealbreaker. Look into them with an open mind and decide for yourself if they seem trustworthy enough to pursue a relationship that may last years.
The Final Word
Buying a home is never a simple process, so the first few steps you take are very important. Being well-informed goes a long way toward getting a mortgage with affordable monthly payments. Yes, it can be hard at times but if you push on through in a responsible and educated manner, you’ll get there soon enough. One step at a time will lead you to your new home sooner than you think. Best of luck!
The most common type of contingency is 'pending sale of current home by a stated date'. If the buyer's house does not sell by stated date, the offer is TERMINATED. Earnst money is returned to the buyer.
Depending on the market you live in, selling your home can be slow or fast. In NE Iowa, generally speaking, the market does not move very fast. For example, a BUYER could accept an offer that is contingent on the SELLER listing and selling their home.
Selling could take 1 day, or it could take longer (come on, we all know the houses that have been on the market for YEARS).
As a SELLER, how long do you want to wait to be rid of the house? If speed is of the essence, you might want to consider the 72-hour clause.
What is THAT you might ask....
The 72-hour clause is a common provision added to real estate contracts that allows a seller to continue marketing their property for a period of time after an offer is made
Step-by-Step of the 72 hour clause
Before agreeing to a home sale contingency, the seller’s real estate agent should investigate the potential buyer’s current home to determine:
If you put your house on the market, it usually means you are ready to move on, be it to upsize, downsize or relocate.
Here are some key tips to remember to make the house SHOW LIKE A JEM:
1) emotionally detach yourself from home. A good way to do to that is by taking down your personal photos along with those family heirlooms prior to showings starting. It also means the buyer will not see and list it as a contingency in the purchase agreement.
2) don't just organize, DECLUTTER. I know you are still meaning to look through all of last year's National Geographics, but perhaps its time to donate that reading material to the local library.
4) make it SPARKLE. clean and more cleaning. Vinegar should be your best friend. This is especially important for the KITCHEN and BATHROOM.
5) curb appeal. Take a step outside to the end of your driveway.....do you like what you see? What draws your attention first? Make sure that potential seller will want to get out of the car to see more.
Hi, I am Summer, real estate agent in NE Iowa. This blog is about life, of which Real Estate is a part of. Happy reading!