Prepare Before You Buy

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To prepare for your purchase, start reading classified ads in the real estate section of your newspaper and visit open houses on the weekends all this even though you’re not ready to buy yet. If you’re a veteran, send for your VA certificate of entitlement, just in case you end up wanting a VA mortgage. Contact a credit bureau and request an inexpensive report on yourself, just to make sure that no mistakes will turn up. Sock away extra cash; you’ll be motivated to skip a vacation or a movie when you have a short-term goal like accumulating money for a down payment and closing costs. Don’t buy anything on credit. This is not the time to take on another car payment, buy a boat, or even apply for an additional credit card. If someone is making you a large cash gift toward your purchase, try to get it into your own savings ac count months before you apply for a mortgage loan.

Association, or Board, of REALTORS, a state board of REALTORS and the National Association of REALTORS. REALTORS subscribe to a code of ethics that goes beyond state license law and usually sponsor a local multiple listing system, which offers access to houses listed for sale by many different firms.

REALTORASSOIATE is the term used by some boards of REALTORS for salespersons associated with member brokers. So as you start your search for the best agent, should you pre fer a salesperson or a broker? There’s something to be said for each. In general, you can expect a broker to have had more education and experience. On the other hand, some long-time sales- persons remain at that status simply because they prefer not to go into business for themselves. And you could run into a well- trained, highly motivated newcomer with the time and enthusiasm to do a first-class job for you.

So you think you’re looking for your broker! In recent years, a Federal Trade Commission study found that most buyers believed the agent who helped them buy a house was their agent, putting their interests first. Many sellers also thought so, and, regrettably, so did many brokers.

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