Jack Gaughen ERA
I agree that a knowledgeable and professional real estate person acting as YOUR agent is the first step you should take. This agent will act as YOUR representative at a time when you need guidance, information, and assistance prior to and during your home search and purchase.
As a lender, I can't impress upon you enough that you absolutely must get pre-qualified for your mortgage lending as soon as possible. A professional mortgage banker/lender will discuss the options and best path to take regarding your finances and upcoming purchase. He/she will also be able to answer your questions regarding credit, debt, the new tax credit available to first-time purchasers, and more. In other words, they will work hand-in-hand with you and your realtor to make your purchase possible and get it accomplished as quickly as possible.
Many times, sellers will not even entertain an offer made on their home without a buyer's pre-qualification involved. A pre-qualification is close to mandatory in this market and will increase your value as a buyer. By peforming a pre-qualification, you and your realtor will know upfront what price range of home you are qualified to buy and the mortgage debt you can afford. They can then proceed in showing you homes within that price range.
For further information regarding the First-time Home Buyer's Tax Credit, please go to my website at: http://www.genemundt.com. There is a tax credit flyer contained on that site and available for viewing and printing. I hope you find it of value and it provides some understanding of this amazing benefit now available to you during your first home purchase.
If I can be of any further assistance to you now or in the future, please do not hesitate to contact me. I wish you the best of luck and much happiness in your new home!
Gene Mundt, Professional Mortgage Banker http://www.genemundt.com
I agree. Get a buyers agent to work and negotiate for you. You shouldn't have to pay one, they are paid by the seller and their input is invaluable. It should save you money in the long run.
If you have any other questions, feel free to contact me.
The very best of luck to you!
Michael D Delp
4802 Old Bethlehem Pike,
Telford Pa. 18969
Long and Foster Real Estate Inc.
Your agent will also know what percentage of the sale price is usual in this area. In my area of the country, the Seller usually gets 95 - 100% of the asking price. Then you need to determine what you really want to pay for this house, what is your highest and best offer, and then start about 10K below that number. However, your agent should be able to help with any negotiating you need to do. If you trust your agent, listen to their advise. If you don't trust agent - Get another agent.