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Monday, April 13, 2015

Home Buyer Tips: Questions Your Realtor May Ask

When it is time to shop for a new home one of the first steps buyers should take is to contact a local real estate agent.   Since most buyer's agents get paid after the buyer successfully close on their new home the real estate agent called will likely ask a lot of questions (buyer qualification).

Qualifying a buyer ensures the real estate agent and prospective buyer client have a reasonable chance to successfully close on a new home.

While questions may vary from agent to agent many begin the process with a simple what, when and how approach.  With these questions answered then more detailed questions will begin.
  • What are your goals?  Investment property, first home, move up home, retirement home. 
  • When do you need to move?  The usual timeline for the home purchase process that may take 45-90 days in this area of Florida.  Start too soon and sellers will likely not want to accept an offer if they must  delay closing.   Start too late and the process of locating a house, inspections, appraisals, surveys may take longer than the desired timeline. 
  • How will you pay for your new house when you find it?    If a mortgage is going to be used, has it been pre-approved?  What is the amount?  What is the budget?   If a cash buyer, do you have proof of funds?
While many first time home buyers will know the answers to the first two questions it is the final question that may pose more uncertainty.  That is OK.  Your real estate agent will likely have local mortgage professionals they can refer buyers to, if needed.

Another question you will likely be asked early on is whether you are working with another real estate agent or have a buyer's representation agreement with a Realtor®.

If you are seeking a local Brevard County, Florida mortgage professional, although I have no "secret" list, I can provide some suggestions including many my customers have successfully utilized.

If you are ready to buy a home in Melbourne, Florida, give me a call at 321-693-3850 and lets discuss how I can help you.  If you prefer, send me an email.

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