Real Estate Online:5 Helpful First Time Buyer Tips | Online Real ...

Article Summary:

Real Estate had been the apple of investment to the few who have the gold. When real estate are developed or bought for the purpose of generating income, it becomes an income property. No wonder why there are numerous of income property for sale and for rent.?How much can I afford?
# 1.
Contact a local lender.?With the daily changes in?the mortgage world, you need up to the minute information.? It?s?important to know what you can reasonably afford, what kind of interest rate you?get and any extra expenses you?should

Article Content:
?How much can I afford?
# 1.
Contact a local lender.?With the daily changes in?the mortgage world, you need up to the minute information.? It?s?important to know what you can reasonably afford, what kind of interest rate you?get and any extra expenses you?should expect.
* Shop around, and let the other lenders know you are in the market for a good lender, if they know they have competition -they might offer you a better package!
- I am happy to provide recommendations on lenders I have worked with, know and trust.
?Do I really need a Realtor??
#2.
Find the best Realtor for you. Having a professional Buyer?s agent on your side looking out for YOUR best interest is key.? When you call the phone # on the?for?sale sign you will reach the agent listing the house, they?will have specific helpful information about the property?BUT?do keep in mind, when considering a contract, they?are working for the seller, and for the SELLER?S best interest, not?yours.
In most cases the commission is paid to the buyer?s agent from the seller?s closing, not from your pocket, so you get full representation?for FREE!? Interview a few different agents just as you would a lender.? See who is the best match for you.? It?s important that you trust your agent and feel comfortable working with them.
?Ahem..and feel free to interview us at Blue Ribbon!
?I want to buy a foreclosure!?
# 3.
I understand the concept of wanting to get?a ?really good deal? on a house, this is a great time to?find good deals?who wouldn?t want a good deal?!
?BUT,?if you are considering going through the process of buying a foreclosure, I highly recommend extensive counsel from your Realtor, a lawyer and tax accountant.? The process is not as simple as one might think.? The liability (such as?backed up liens or 2nd mortgages)? from a distressed property can be costly, stressful and time consuming to deal with.? Not all foreclosures and short sales are difficult but knowledge on?what to expect and making the right choices for your situation are very important.
?Do I really need to get an inspection?? The house looks fine.?
# 4.
Answer: YES. Getting a home inspection on the house you are buying is one of the most important items to take care of.? Even on new construction, having a professional inspector check the quality and current condition of the house is vital!? When making an investment of hundreds of thousands of dollars on the line a 0-0 inspection is worth every cent!? I have the names of several great inspectors if you are looking.
?I want my property value to grow, how can I gain equity in my new home?
# 5.
Keeping up your property?healthy?and maintaining your new asset is very important!? Something I recommend to my buyers is to?put aside 1% of your purchase each year to put toward improvements.??You most likely won?t even need that much but repainting, cleaning carpets, upgrading fixtures?a little bit?can go a long way over the?years.??You owe it to yourself and it will help your property value go up over time.? Not to mention enjoying a nice well maintained home while you live there.
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There are several other key points that are essential in the home buying process that I would be happy to go over with you or a friend you know in the market?for a new home.
These 5 where just a few helpful starts!
Feel free to email or call us anytime with questions you might have!
Thanks!

___

Claudia Williams
Owner/Ecobroker/Exchangor

Blue Ribbon Properties, 835 Main Ave #214, Durango, CO 81301970 247 8388 (office), 970 749 3555 (cell), 970 247 8360 (fax), blueribbondurango.com

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