Judy McCool - Helpful Hints

Finding the Right Agent - As in any field, real estate has agents with a wide range of styles, skills, and levels of success. You will be best served by an agent that is well established and well connected in the real estate industry -- a truly professional Realtor® who has proven his/her capabilities.

Of course you want someone who knows the market; is honest, straightforward, and responsive; and will take the time to understand your specific needs. Since you are here at my web site, I would like to suggest you have already found the right agent!

Starting Point to Buy - Buying a home is one of the most significant personal investments one can make. Being organized and in control will help insure achieving the best results with the least amount of stress.

A good starting point is to determine how much you can afford to pay for a home. If you're not sure on the price range, carefully select a lender and get pre-approved. That will help alleviate some of the anxieties that come with home buying. You will find a further explanation and beneficial information under the "Choosing a lender and arranging pre-approval" section.

Then have a family discussion about expectations, style of house, and other considerations such as:

Convenience for all family members
Proximity to work and schools
Transportation issues
Amenities desired
Types of homes in the area (e.g. condos, town homes, new construction. etc.)

Preparing to Sell - Here are a few helpful hints to remember when preparing to sell your home:

Analyze why you are selling. Understanding that enables you to better negotiate and get what is most important to you -- whether it's a quicker sale, higher price, or another reason.
Prepare your home for potential buyers. Maximize the strengths, minimize the weaknesses. You want buyers to be "wowed" on their first visit.
Find a proven Realtor® that understands your needs. (You've already done that since you're now at my website.)
Be prepared for negotiation. But of course I will guide you through this -- getting the appropriate deposit, locking in the buyer for a successful sale with the best price and best terms for you.
Make sure the contract is complete. Again, you'll have me looking out for you.

Lenders & Pre-approval - Times have changed from the days you could go house hunting, make your choice, and then set about arranging financing. Today it is prudent to be pre-approved for your financing prior to beginning your home selection process. And it needs to be with a legitimate lender -- a bank, mortgage broker, credit union, or established online lender.

Don't confuse pre-qualifying with pre-approval. Pre-qualifying can usually be accomplished over the phone and does provide an estimate of the mortgage amount for which you could probably qualify. However, being pre-qualified does not give you the leverage that pre-approval does.

With pre-approval you know exactly what your maximum loan amount can be. That gives you credibility as an interested buyer and assures the seller you have the financing to buy their property as well as a letter of pre approval to submit with your offer to the seller.

Avoiding stress in the process: The key is to be prepared by knowing your exact needs and not hesitating to ask questions to fully understand the differences in mortgages. There are approaches to mortgage shopping that can either cost or save you money.

There are a number of issues to consider in making sure a particular mortgage is in your best interest:

Your long-term goals. Do you intend to resell the property in a short time? Do you only need the mortgage for a short time?
The current market. Are interest rates falling or rising?
Your comfort level. Do you prefer a fixed rate so you know your mortgage payment will always stay the same?

Without a doubt, the better your qualifications and credit score, the lower your interest rate will be. However, mortgages are available for virtually anyone, although the interest rate and/or down payment amounts will vary.

Before approaching a lender, determine how much you can comfortably handle as a monthly payment. Then when you discuss mortgage pre-approval, the monthly amount serves as a guide for what price home you should consider. This will help safeguard you from paying more each month than you intended because you "over bought".

Home Inspection Importance - A thorough home inspection properly done by a professional is in the best interest of all parties in the transaction. It provides both the buyer and the seller the opportunity to learn about the property's condition.

A home inspection usually covers the following:

Plumbing - any leakage or clogging
Roofing & Attic - the extent of any deterioration, quantity and quality of insulation, and resultant concerns
Electrical - evaluation of any inadequate circuits or potential fire hazards and operation of included appliances
Structural - evaluation of the home's foundation, basement (if any), windows, siding and related issues
Heating & Air Conditioning
Fireplace

As a seller, the home inspection report protects you because it establishes the actual condition of the property at the time of inspection.