How Credit will affect your Ability to Buy a Foreclosure

So you want to get in on the great real estate deals before they are gone but you’re not sure about your credit scores and how they will affect you ability to buy. Maybe you know your score but you think it’s too low to qualify for a home. Maybe you’ve filed bankruptcy in the past and are wondering how long before you’ll be able to qualify for a mortgage or maybe you’ve got bad credit and want to know what steps to take in order to clean up that credit score to qualify for a mortgage.

These are all great questions and things every person should know before they venture out into the real estate market in search of great deals. By contacting a lender you’ll have a good source of information regarding your scores and how they stack up. But that lender won’t be able to help you repair your credit. Getting a grip on credit situations will help you in the long run whether buying a new home a car or applying for a credit card knowing what you can expect and how to handle your credit will make your life easier know and in the future.

Do I Need A Buyers Agent?

The Internet has made finding a home so much easier these days, and often buyers wonder why they even need an agent. But finding the home is only the first step in buying a home and many times it’s the easiest step as well.

A buyer’s agent can be your biggest asset and your best ally, all at no cost to you. So why would any buyer, in their right mind turn down professional now cost service? Beats me.

For a buyer, there is no cost of taking advantage of the services of a professional real estate agent. The seller’s agent charges a commission, then offers a referral fee in the local MLS to the buyer’s agent. The buyer’s agent will only get paid for bringing a ready willing and able buyer who purchases the home and is only paid upon the successful closing of escrow.

10 Reasons the Buyer Should Have a Real Estate Agent

1. A real estate agent knows the homes available for purchase and has access to these homes even when the seller isn’t home.
2. The real estate agent has access to the local MLS which will provide additional information regarding listed homes.
3. A real estate agent will drive buyers around using their vehicle and gas, so buyers sit back and relax. And if they play their cards right the agent may spring for lunch as well.
4. A real estate agent will help and advise the buyers on negotiating tactics to help them save money. This is especially true for short sales and foreclosures.
5. A real estate agent has access to all the needed paperwork, has training in all the needed paperwork and can explain the buying process.
6. A real estate agent can handle all the necessary paperwork to protect the buyer in the home buying process. It’s absolutely crucial that your paperwork is prepared and handled properly. This will help avoid lawsuits and other legalities later down the line.
7. A real estate agent will help the buyers find home inspectors and meet them at the house if the buyer isn’t available.
8. A real estate agent will help the buyers locate utilities and other companies to help in the moving process.
9. A real estate agent will handle many of the small problems and details between the two agents, escrow and the lender so the buyers are not bothered.
10. A real estate agent will do everything in his or her power to protect their client and ensure that the purchase runs smoothly and closes on time.

A real estate will do all these things and more for their client, at absolutely no cost to the buyer. That sounds like a great deal to me. I always like something for nothing. So next time you wonder whether you need the services of a buyers agent, call me and I’ll remind you of the 10 reasons why you need a buyers agent.