When you are ready to sell your home will you need a real estate agent’s help to sell your home? The answer is yes if you don’t have the time and the expertise in real estate marketing.
Here are some questions you need to ask yourself before you venture into the “house for sale by owner” arena:
Are you a full-time professional real estate agent? How long have you worked full time in real estate? How long have you been selling homes? What professional designations do you have?
Do you have a personal assistant, team or staff to handle different parts of the purchase? Getting all the required documents can be a challenge.
. If you have a question about fees on your closing statement, who would handle that? Who will show up to your closing?
Do you have a website that will list your home? Who will respond to emails and how quickly? Many buyers prefer to search online for homes because it’s available 24 hours a day and can be done at home. So you want to make sure your home is listed online for maximum exposure.
Who will book and perform viewings of your property?
It is a fact selling your home may save you money, however the challenges may be overwhelming. Hiring a real estate agent can provide the services you need allowing you to get the best price and less time from the important matters of life.
Real estate agents normal fee is around 3-5 percent of the final sale price and the sale price can be adjusted to accommodate the fees. This can be a blessing in the end because many buyers find faults in your home in an attempt to get a lower price. If you are not strong minded it may upset you.
Give us a call today and we can provide FREE information on how a real estate agent can help you sell your home.
Looking for a mortgage in Trinidad and Tobago? If the answer is yes the following information will help. The leading banks in Trinidad and Tobago, RBC, Republic Bank, Scotia Bank, TTMF and First Citzens Bank all require your personal information.
The future belongs to those who prepare for it. This is sage advice for homebuyers who need to lay the necessary groundwork to buy the home of their dreams.
Without good preparation, many buyers get lulled into the mistaken notion that if a lender pre-qualifies them for a mortgage this means that they have been pre-approved for a home loan. Unfortunately, there’s a world of difference between these two terms. If you’ve ever been confused by the two, we’ll bring you up to speed on how these terms differ – and why a misunderstanding can mean disaster for borrowers.
What is to be Pre-Qualified?
Getting pre-qualified is the initial step in the mortgage process, and it’s generally fairly simple. You supply a bank or lender with your overall financial picture, including your debt, income and assets. After evaluating this information, a lender can give you an idea of the mortgage amount for which you qualify. Pre-qualification can be done over the phone or on the internet, and there is usually no cost involved. Loan pre-qualification does not include an analysis of your credit report or an in-depth look at your ability to purchase a home.
The initial pre-qualification step allows you to discuss any goals or needs you may have regarding your mortgage with your lender. At this point, a lender can explain your various mortgage options and recommend the type that might be best suited to your situation.
Because it’s a quick procedure – and based only on the information you provide to the lender – your pre-qualified amount is not a sure thing; it’s just the amount for which you might expect to be approved. For this reason, being a pre-qualified buyer doesn’t carry the same weight as being a pre-approved buyer who has been more thoroughly investigated.
What is to be Pre-Approved?
Getting pre-approved is the next step, and it tends to be much more involved. You’ll complete an official mortgage application (and usually pay an application fee), then supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. (Typically at this stage, you will not have found a house yet, so any reference to “property” on the application will be left blank). From this, the lender can tell you the specific mortgage amount for which you are approved. You’ll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock in a specific rate.
With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller, as he or she will know you’re one step closer to obtaining an actual mortgage.
The other advantage of completing both of these steps – pre-qualification and pre-approval – before you start to look for a home is that you’ll know in advance how much you can afford. This way, you don’t waste time with guessing or looking at properties that are beyond your means. Getting pre-approved for a mortgage also enables you to move quickly when you find the perfect place. When you make an offer, it won’t be contingent on obtaining financing, which can save you valuable time. In a competitive market, this lets the seller know that your offer is serious – and could prevent you from losing the home to another potential buyer who already has financing arranged.
Once you have found the right house for you, you’ll fill in the appropriate details and your pre-approval will become a complete application.
The final step in the process is what’s called a “loan commitment,” which is only issued by a bank when it has approved you, the borrower, and the house in question. This means the home should be appraised at or above the sales price. The bank may also require more information if the appraiser brings up anything he or she feels should be investigated (i.e. structural problems, accessibility issues, outstanding liens or litigation in progress). Your income and credit profile will be checked once again to ensure nothing has changed since the initial approval.
A loan commitment letter is issued only when the bank is certain it will lend, so the commitment date on your purchase contract should be closer to closing than to the date of your offer. (The seller can ask to see that letter as soon as the date has passed, so beware of anyone who tries to put an early commitment date into your contract).
The Bottom Line
Be warned. Pre-approved and pre-qualified are not the same thing. Don’t assume that the bank will provide your loan until you have the former. The mistake could cost you your new home!
More Info – http://www.investopedia.com/articles/basics/07/prequalified-approved.asp
Why Trinidad Homes For Sale Cheap is a challenge? Homes for sale in Trinidad are not cheap as a result of the average family income. Therefore it is even more expensive for the single parent trying to purchase a property. Can you find a house to make it your home? The answer is yes there are many Trinidad Homes For Sale cheap.
The real estate market in Trinidad is now at an all time high. Home owners are asking inflated prices for their home. It is a situation where demand is more than supply. In addition the “good neighbourhoods” are in high demand for personal and family safety.
The Trinidad and Tobago Housing Development Corporation (HDC) is government-owned and is responsible for providing homes for middle and low-income families. However the system is unable to meet the demands of the citizens of Trinidad and Tobago.
How To Get a Trinidad Home For Sale Cheap
To get an affordable home you need to be ready when offers become available and act promptly. The following are some tips that can help
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Get a Real Estate Agent | Sales Agent | Realtor
Help to find a home will be easier when you entrust the services of someone with experience in real estate. Do you have the time to browse online for houses for sale? Making calls to view listing can take time. Can you call all the listings you are interested? Do you know how to negotiate with an agent to get a better price? TNT Homes For Sale can help.
Many people will need a loan to purchase a home. It is important to know before hand what mortgage you qualify for. This would entail visiting your financial institution. A mortgage specialist will be able to determine based on income and expenditure what price range you can afford.
Down payment buying a home
The downpayment is important to secure homes in the mortgage process. An offer must be made and accepted. The downpayment is crucial in closing the deal. Real estate deals are hard to find and real estate agents, companies, investors are all looking for deals. Therefore multiple offers will be made when there is a Trinidad Home For Sale Cheap.
The downpaymet is normally 10% of the selling price. This payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.
Homes For Sale In Trinidad and Tobago Under 1 Million
TNT Homes For Sale will work with you to find you a home for sale in Trinidad and Tobago. Because finding homes is what we do best. We welcome the opportunity to work with you. Feel free to contact us for more information.
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