Washington State allows for designated agency, meaning a real estate agent can represent a buyer, a seller, both or no one in the transaction. I am an Accredited Buyer Representative, meaning Iíve taken the courses and have the experiences to be a better advocate for your interests. The discussions we have are confidential and I share with you any knowledge I have or can gain about the property, the seller or their situation that might impact your decision to buy or the terms you might offer on a property. I strictly and solely represent you and your interests in the negotiations, offer and closing process. You gain the benefit of my experience in buying hundreds of homes and how to best position you to be the right buyer for the property you like. You get these benefits at no direct cost to you, as the seller still pays the real estate fees, yet you have a knowledgeable resource, strong advocate and negotiator in your corner. A total win for you.
Preparing to buy a home can be a very exciting yet scary time. Itís a big financial undertaking that few people have much real experience with. I have been an agent for 21 years and an Accredited Buyer Representative for the past 9 years. Let me talk with you to determine what needs and challenges you might face and how best to overcome them. Lender programs and guidelines are constantly changing which makes it possible for more people to qualify to buy a home than believe they can. I can help guide you. Below are some basic beginning steps to consider.
First, think about your credit. If you know you have challenges here then letís get a detailed credit report and score and talk about ways to clear this up or what it means if you buy with your present score. Many lenders offer programs and reasonable rates for people with credit challenges. Donít be afraid.
Next is to try to reduce or eliminate debt. No matter what, you are about to take on a sizable financial obligation. You will feel more confident and comfortable if you can reduce your present debt. Again, I can help you to focus on which debts will benefit you most to reduce or eliminate.
If you donít have credit or debt challenges, thatís great. Now we need to meet to talk about your needs, comfortable price ranges, market conditions and how best to prepare you so we can present you in the strongest terms to a home seller. The past few years have seen many buyers in the market place and we need to set a strategy to make you stand out, above the rest. Many agents and their buyers felt like the only option in our recent market was to ďoutbidĒ the next buyer, pay way more for the home, waive all conditions or contingencies to their purchase and just hope to get the home. This is rarely in your best interest. A better idea is to be patient, focus on what you really want and what is most important to you about your new home and the neighborhood youíre interested in. Weíll clarify your concerns and desires so when the right home comes on the market you and the home seller can be confident in each other and your abilities to work towards a smooth and successful sale of the home.
Give me a call so we can discuss your questions, concerns and ability to be the best prepared buyer.
We are inundated with loan offers and choices, so how do we determine which one is best? The answer is, ďIt dependsĒ. So much about which loan is best is tied to your circumstances. You need to answer a dozen or more questions before someone can offer you competent choices. How much money do you have? How much are you willing to invest? How long will you own the home? How stable is your income? How much debt do you have? What payment are you hoping to find? How much fluctuation or stability do you want with your home payment? I can help you with the questions; you need to be prepared to answer them. Financing terms in a purchase and sale agreement can be a major point of differentiation. Too many loan officers promise rates and terms they canít deliver on. This is creating a change in the industry where the buyer now has to waive their financing contingency and hope their lender will keep their word and get the financing put in place in time to close or the buyer will be forfeiting their earnest money. You donít need to take on that risk by working with a loan officer or lender you have no history or experience with. Call me. I have a few, very reputable, loan officers that I proudly call members of my team. I would recommend you contact them and let them advise you on how to maximize the benefits of any given loan program for your next home purchase. Home loans and home equity are becoming major financial tools for building wealth; you need someone with experience and integrity to help you determine which loan will work best for you. Give me a call; Iíll pass on their names to you. Iím sure youíll be pleased. I get nothing out of it except the peace of mind that your needs will be met and our purchase will go more smoothly, on time and on terms you agreed to from the outset
Many loan programs exist to make buying a home possible with very little money. Most zero down loans still require some upfront deposits, like for your earnest money deposit or credit report and appraisal, but itís possible to get most or all of this back upon closing. Any money that is needed can also come as a gift from family, friends, employers, church or such. The possibilities are quite varied. The point is, you can buy for very little down if that is a need you have.
You will have more loan choices if you can put more money down, like 5% of the purchase price. Many people buying with low down payments arenít first time buyers or even lower income households. They just have other needs for their cash at the moment but want to take advantage of an opportunity in the market. Whatever your situation, we can come up with a loan that fits your budget and needs. Many people say to only put down 20% of the homeís value and save your cash for other investments. This might be right for some or even many, but not for you. Give me a call and weíll discuss your concerns and a plan that works.
Thatís great. Many people are doing this to diversify their investment portfolio or retirement plan. While there is a current frenzy about buying foreclosures or property flipping, most investors are just looking for good homes to own as rentals or homes they can buy for market appreciation, even if they donít cash flow so well at present. Others with construction background or partners want to find homes they can buy, do renovation remodels to and then resell for gains. I caution you strongly on this last approach unless you do have a strong construction background and are willing to really build that ďsweatĒ equity. I have a team to help you exchange out of these properties and into other choices that might offer better appreciation, tax or lifestyle benefits. While many lenders require 20% down payments, some are still available for 10% in some situations. Call me to discuss your interests and a strategy to build your portfolio.