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You’ve decided to buy a home!

Buying a home is more than looking at houses. It’s finding the right home, at the right price, in the right location. Hopefully, with a minimum amount of time and inconvenience. The best way to achieve these objectives is to work with a Real Estate Agent who understands your needs and wants, as well as your time frame and financial boundaries.

Selecting a Real Estate Agent

It is important that your realtor understands your needs. A good realtor will ask the questions he/she needs to know, before he/she start to show homes.

Questions you should ask to a Real Estate Agent when choosing him/her:

A Real Estate Agent’s Function

Working with a Real Estate Agent

Let the Realtor do the searching. The best buys are not in the newspaper ads. In fact, most opportunities are on the “Hot Sheets” available every morning to realtors with access to the M.L.S. information database. Once you connect with a Real Estate Agent he/she can do a more complete search for you. A Realtor will commit time to you if you commit loyalty to him/her. If you ‘Play the Field’ you should not expect undivided attention.

Buyer’s Contribution

Working together as a team, with a professional you respect, should achieve those objectives you seek:

Establishing a Market Value

Market value is based on what others have been prepared to pay for a similar property, under the same market conditions after a reasonable marketing exposure.  Market value is a fair price for both, buyer and seller.  Namely called an “arms length” deal.  This means, there were no elements other than the market, influencing the deal.  You may, of course, pay more than established market value if your desire for the property warrants it.  Conversely, you should not expect to pay less than established market value, unless the property is being sold under duress.

Qualifying for your mortgage

Once you’ve made up your mind to buy a home, the first question that comes to mind is: ‘How much can I afford?’ The financial aspects of buying a home do not need to be confusing.  Your Real Estate Agent can arrange to have you pre-qualified for a loan before you start shopping.  Most lending institutions will only allow approximately 30% of a person’s income to support a mortgage.  The lending institutions will usually not allow more than approximately 40% of income to support mortgage together with other debts.  The amount of money you qualify for, plus the amount of cash you use for down payment, will equal the amount you can afford to spend on the purchase of YOUR HOME.

Make our team YOUR TEAM!!!

Ruben Contreras
Real Estate Agent
Cellular: (403)818-6704
E-mail: ruben.c@wantacasa.com

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