Real Estate Article: For First Time Home Buyers

STOP!  We have some exciting news!  Linda Grissette has a new website dedicated to those who are getting ready to buy their first home.  It's full of information to help you.

Buying your first home can be a scary process.  Everyone you know may try to help you based on their experience.  They also may tell you their real estate “horror stories”.  You know you need help, but worry about being taken advantage of by someone who may be trying to push you into buying something you aren’t quite sure of.  You need to find a real estate sales associate who knows and understands first time buyers.  It is best to find a Real Estate Professional who understands first time home buyers, as well as someone who will work to find you the best home possible—no matter who has it listed.  

Remember:  

Things may have changed since your family or friends bought real estate

You may have been told that you need to put 10 or 20% down to buy a house.  Wrong!  If you have good credit you can buy a home with nothing down!  Maybe even 103% so you can finance your closing costs.  WOW!   

But what if your credit isn’t perfect?  You still may be able to get a loan with a 5% or 10% down payment!  Have a lender (preferably a mortgage broker with a wide variety of loans to choose from) run your credit and see what programs will work best for you.   

“What if the house has problems…..”  That’s something that usually worries first time home buyers.  To protect yourself, you need to look the home over carefully to see if you need to address any obvious problems in the Sales Contract.  The contract does offer the buyer protections, too.  You need to have the home inspected.  The lender sends out an Appraiser, but their job is to establish value—to make sure you didn’t overpay—not to inspect the home.

Linda Grissette, GRI, e-PRO Certified

Licensed in the state of Missouri.

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