| Pre-Qualify | | | | average website. |
| | | | |
| Should I Pre-Qualify First? | | | | Hotsheets |
| | | | |
| Pre-Qualifying is simply one of the first | | | | What Are Hotsheets? |
| steps to buying a home. It costs you (the | | | | |
| applicant) nothing and it gives the future | | | | Through a program that the MLS offers, |
| buyer a good starting ground. Pre-Qualifying | | | | Realtors are able to set up buyers with |
| allows the buyer to know how much they can | | | | hotsheets that will send them information |
| spend before ever spending time looking at | | | | about a home as soon as it is listed |
| homes. | | | | according to their search criteria. For |
| | | | example, if a client were looking for homes |
| It is especially beneficial because it can | | | | near a golf course in the Salt Lake Area, a |
| usually help a buyer uncover any credit | | | | hotsheet would send them the info by email at |
| problems that they may not have been aware | | | | the time of day that the client desires. |
| of. | | | | |
| | | | One reminder about working with an agent is |
| I would like to Pre-Qualify Now | | | | that it costs the buyer nothing. The seller |
| | | | is the one that offers a commission to the |
| Realtors | | | | agent that brings them a willing buyer. So |
| | | | why not use an agent? |
| How can a Realtor help? | | | | |
| | | | Can I Afford a Home? |
| Times have obviously changed in the Real | | | | |
| Estate business. With the continuous advances | | | | The potential buyer is obviously the best (or |
| of the internet more buyers tend to surf the | | | | most important) judge of whether buying a |
| web for homes and narrow down their choices | | | | home is right for them. While there are many |
| before ever working with a realtor. Most | | | | benefits to getting away from renting, it is |
| people do not like to be tied down to a | | | | important to know if it is the right time to |
| realtor especially if they don't already have | | | | buy. Personal circumstances will alwaysplay a |
| a personal relationship with them. | | | | key role. |
| | | | |
| Before I talk about how beneficial a realtor | | | | The only information I can share is the |
| can be, allow me to address the issue of | | | | financial. Typically, a debt to income ratio |
| Buyer-Broker Agreements. This form is a very | | | | of at least 50% is preferred as a minimum. So |
| common agreement that is used by most | | | | if a family's income is $3,500 a month, they |
| realtors. The intention is a very honest one. | | | | would preferably have to pay less than $1,750 |
| In short, brokers/agents agree to help a | | | | each month including their future home |
| client if the client agrees to only buy with | | | | payments). |
| them. It is a way to ensure that both parties | | | | |
| are treated fairly. Unfortunately, it is not | | | | The best way to know what you can afford is |
| unheard of for this form to be abused. | | | | by getting pre-qualified for a loan. This |
| Occasionally, some realtors will have their | | | | costs nothing and does not mean you have to |
| clients sign these agreements with alarmingly | | | | get a loan. |
| long expiration dates. This is how buyers get | | | | |
| tied down to using one realtor, whether they | | | | Closing Costs |
| like the job that they're doing. | | | | |
| | | | What Are Closing Costs? |
| At Wright Brothers Real Estate, we believe | | | | |
| that the clients and realtors should have a | | | | Closing costs at this point can only be |
| relationship that is based on trust and | | | | loosely estimated. While they can be a bit |
| respect for each other. Generally a client | | | | costly, it is also possible to negotiate with |
| will not be asked to sign any agreements | | | | the seller to have them pay a portion of the |
| until it is time to actually make an offer on | | | | costs. To get some idea as to what is |
| a home. If for any reason the contract on the | | | | involved in closing fees, I have listed a few |
| house falls through before closing, the | | | | good sites below.visit: |
| client is released from their agreement and | | | | |
| can either continue to work with us or find | | | | Closing Fee Calculator |
| another agent. We believe that if the client | | | | |
| does not want to work with us at any time, | | | | Wikipedia Closing Cost Info |
| then we have not done our job correctly and | | | | |
| they should be allowed to pursue other | | | | Commissions |
| options. | | | | |
| | | | Often, in Utah, the commission paid is about |
| Working with a realtor can be a very | | | | 6% by the seller at the time of closing. 3% |
| beneficial resource when looking for a home. | | | | goes to the listing agent and another 3% goes |
| While all buyers have access to a surplus of | | | | to the buyers agent (you are "offering" this |
| internet sites which list homes on the MLS | | | | percent to the agent that brings a buyer.) |
| (Multiple Listing Service), a realtor can | | | | This is the reason why it costs the buyer |
| access additional data that is not usually | | | | nothing to use an agent. These rates are not |
| accessible. Also, agents have the capability | | | | set in stone. Which is one of the reasons |
| of performing more detailed searches than the | | | | that you see flat fee brokerages. |