This daily changing market is making harder and harder for a “smooth” transaction. The first step for a buyer, as I am sure you know, is to get pre-approved. Be sure that you have given all the financial information they have requested and you have to disclose everything because it all comes up at one point. Make sure you are comfortable with the mortgage processor and if possible, go to somebody that a friend or someone you know has recommended. A lot depends on how the mortgage processor looks at the information you gave them to make a realistic determination of what you will qualify for. They should be asking you a ton of questions. It is better to find out now before you expend money on inspections, get all excited about owning a home, to find out something comes up and you can’t close on this house.
The next step is to find a realtor who really has your interests at heart. They should be asking for what you qualify for, researching the homes fitting in your criteria, and the first time out gives everyone a better overview of what the prospective buyer likes and dislikes. There are many different types of transactions and they have to be familar with the process. You may be buying a foreclosure, short sale or doing an arm’s length transaction (the easiest of all). There are timeframes that they have to be aware of and they have to have constant “communication” with the listing agent, the lender and the title company. There are a lot of behind the scenes work that buyers are not aware of and your realtor needs to stay on top of it. There are many programs out there to help teachers, county workers and others, but your realtor has to be “educated” on these programs, as well as your lender.
We sell in Hernando County (Spring Hill, Brooksville and Weeki Wachee) and the prices and interest rates are at historic lows.
Good Luck and get out there to buy that house!
We will always keep you informed!
Have a great day and enjoy!
Elsie Kempsey & Julie Ludovico
Team Tropic Hernando