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Todays Top Tip for Buying a House
There are a Lot of Steps Between A and Z
So you've placed an offer on your favorite house! Congratulations, you've made the first step in what will be a long, and sometimes complicated journey to the closing table. Prepare yourself in advance, that this is a process ...and there will be plenty of ups and downs along the way.
Not long ago, the process was fairly straightforward and painless. However, with changes in financial markets, the rise in foreclosures and many other market forces, many changes have been made, adding twists and turns that you must navigate. Your Action Real Estate Realtor® is up to date on these changes and will guide you along the way. It is up to you to make sure you follow your Realtors® guidance for the smoothest possible transaction.
We'll help you better understand your individual buying process, however, some areas where you should plan for delays, dilemmas and
indigestion are:
during the negotiation process
during or after inspections
during the loan commitment phase
during the conditions to close phase
Your Action Realtor® can give help make the first two items relatively smooth, however, the loan commitment and conditions to close phase can be very difficult things to get through.
Where banks once made it too easy for the unqualified to obtain financing, todays underwriters are brutally conservative and inflexible, often to a fault. It is commonplace for last minute information requirements to be ordered, right up to and including the day of closing. Often these requests are difficult to obtain on short notice, and in the very best cases are frustrating to everyone from the Buyer and Seller, to the agents, abstractors and attorneys.
If you follow your Realtors® guidance, you can prepare yourself in advance for these eventualities, lessening the frustration and stress along the way.
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