TYPES OF BUYERS

For the Realtor/brokers there are two types of buyers who are very much interested in buying the property based on the market trends. Both types of buyers needs are different but once the process start it becomes a unique process and ultimate goal is to find the right kind of property. So here is information on the buyers we help in any given market in real estate.

1A ) You are a First Time Home Buyers

A ) Basic Criteria Thoughts : -– Location, Education, size of the house and future market trends that will help you earn profit in the property.

B ) After deciding above factors – How much can you afford ? Based on you and your spouse income and quality of life. You start to analyze the location you want to call it your new home by checking out market trends and different types of housing needs available such as single family, condos, townhomes. You want your experts to give you market analysis that can help you understanding where you would like to move to.

C. ) Narrowing Criteria by crunching numbers – Find out what is happening in mortgage world and start to search for better rates based on your situation and needs. Once you have determined who will be providing you the best possible service your next step will be ask for the mortgage process and how it works.

D.) Search , Search, Search – This is the main step after the loan process is done you have to find the right house for you for that please get together with your expert in the area who have the vast knowledge about all the entity that relates to the property and which will help you in getting the right price deal.

E. ) Documents that starts the process – Once the house is found ask your realtor to help you get started. So the main documents that are required will be given by your realtor he will have you explain what is in it and who he will be dealing with that will take care of your money that you will be providing as a security deposit. These are the documents that are required once the house is found, Residential purchase agreement, Escrow money deposit that goes to title company, pre approval letter, bank statements.

F. ) Cost Relating to buying house – Escrow Fees, Title Fees, Down payment, Loan Closing Cost, home inspections, appraisal fees, home insurance, escrow administration fees.

G. How is a buyer protected from someone else mistake – There are contingencies that are enforced in the contract that protect buyer from their or someone else mistakes. The contingencies are Inspection contingency, loan contingency and appraisal contingency. Once you figure out there is something wrong with the process or even the property. Please have your realtor negotiate the terms and if that is not working do not remove any contingency that will help you protect from loosing your escrow deposit money.

H ) Closing Terms on deal – Once you are in the closing state of your deal please review all the settlement statement so that way you feel comfortable and understand how much money you have to bring it on the table to close the deal and once all the loan condition and contingencies are removed title will record the property in county under your name and the house will be yours. Dream do Come True so keep Dreaming !!!!!!!

2A ) You are an INVESTOR

A ) Basic Criteria Thoughts : -– Location, Education, size of the house and future market trends that will help you earn profit in the property.

B ) After deciding above factors – How much can you afford ? Based on you and your spouse income and quality of life. You start to analyze the location you want to call it your new home by checking out market trends and different types of housing needs available such as single family, condos, townhomes. You want your experts to give you market analysis that can help you understanding where you would like to move to.

C. ) Narrowing Criteria by crunching numbers – Look at the condition of the house and see how much repair work is required and talk to your realtor on how the negotiation can be handled and what price will be right for the property. On the other hand if the property is in good condition is it in the area where it will rent fast and after all your expenses will it rent for what you are looking for and provide you with the positive cash flow.

D.) Search , Search, Search – This is the main step after the loan process is done you have to find the right house for you for that please get together with your expert in the area who have the vast knowledge about all the entity that relates to the property and which will help you in getting the right price deal.

E. ) Documents that starts the process – Once the house is found ask your realtor to help you get started. So the main documents that are required will be given by your realtor he will have you explain what is in it and who he will be dealing with that will take care of your money that you will be providing as a security deposit. These are the documents that are required once the house is found, Residential purchase agreement, Escrow money deposit that goes to title company, pre approval letter, bank statements.

F. ) Cost Relating to buying house – Escrow Fees, Title Fees, Down payment, Loan Closing Cost, home inspections, appraisal fees, home insurance, escrow administration fees. Down Payment for Investment property is 25 % so make sure you have that much money available plus other reoccurring cost as well.

G. How is a Investor protected from someone else mistake –Make sure you hire a good property management company who can screen tenants and provide maintenance service as well that will help you keep the property updated and clean. Plus have them sign the rental agreement that will protect you from any damages provided by the tenants.
H ) Closing Terms on deal – Once you are in the closing state of your deal please review all the settlement statement so that way you feel comfortable and understand how much money you have to bring it on the table to close the deal and once all the loan condition and contingencies are removed title will record the property in county under your name and the house will be yours. Dream do Come True so keep Dreaming !!!!!!!

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