Stating the Facts About Real Estate

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Stating the Facts About Real Estate

Buying real estate can be a really good investment. There are a few different approaches you can take. Many people choose to simply buy themselves a home and pay into the mortgage over time, building equity. You could also buy an apartment community or a couple of homes to rent out, profiting from the rent, and then profiting again when you sell the homes. Regardless of which approach you take, it is important to know the facts. This blog is a good place to find them! We state the facts on real estate, and we cover a wide range of topics for your benefit.


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Shortcuts To Homeownership

You want a home, and you want it now. Once you know you are ready to become a homeowner, you don't want anything to stand in your way. Unfortunately, things can drag on during the home-buying process. Take heart, though, there is a lot you can do to speed things along. Read on and learn about a few key shortcuts that will have you in a new home right now.

Know Your Prices Range

You may think you know how much you want to spend on your home, but getting pre-approved is vital. A pre-approval provides you with an accurate estimate the lender might approve of when the time comes to get a home loan. It also allows you to focus on homes in a particular price range and thus saves you from visiting homes that are too expensive (or not expensive enough).

Eliminate the Possibilities

No matter what your local home inventory is like, you are best served by making a list. Your list should include a few features that you absolutely cannot do without and a short list of things you want but don't necessarily need. For example, you might need a home that is at least 2000 square feet, has 3 bedrooms and 2 bathrooms, and is on the west side of town. You might want a pool, a large lot, and a finished basement.

Get Inside Information

Before you start attending open houses, get some professional help. Talk to a local real estate agent about your needs so that you can be informed quickly when something hits the market. Agents talk to other agents, and they might know about a home that has not been listed yet but is about to be. They may also know vital facts like why the homeowners are selling and how many offers have already been tendered.

Keep Offers Simple

If there is a single issue that makes things take longer, it's too many contingencies. Contingencies are conditions placed on a contract that must be met before the closing. If you want a fast closing, keep it as simple for the seller as possible.

Comply With Underwriting

Once your offer is accepted and you submit your loan application, you are officially in underwriting. In many cases, you are asked for more documentation to support income, bank accounts, employment, and more. Save time by assembling the last several years of tax returns, bank statements, pay statements, and other financial paperwork ahead of time.

Your real estate agent has more shortcuts to help you get into that new home in a hurry so speak to a local agent today about residential properties for sale.