Kernersville Homes for Sale, Triad Property Management, Kernersville Real Estate, Buying / Selling Your Home - JENNIC Property Solutions
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5 Common First-Time Homebuyer Mistakes

1. They don't ask enough questions of their lender and miss out on the best deal.
2. They don't act quickly enough to make a decision and someone else buys the house.
3. They don't find the right real estate professional who is willing to help you through the homebuying process.
4. They don't do enough to make their offer look good to the seller.
5. They don't think about resale before they buy. The average first-time homebuyer only stays in a home for four years.

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Buyers Information

5 Reasons You Need a REALTOR

1. A real estate transaction is complicated. ... A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.
2. Selling or buying a home is consuming. ...
3. Real estate has its own language....
4. REALTORS have done it before. Most people buy and sell only a few homes in a lifetime, ...
5. REALTORS provide objectivity. ...
6. REALTORS are members of the NATIONAL ASSOCIATION OF REALTORS,... REALTORS subscribe to a stringent code of wthics that helps guarantee the highest level of service and integrity.

5 Stages of Buying A Home Buying a home is not a discrete event; it's a process

A sequence of events that happens over time, sometimes over as long as several months or even years! While general guides to buying a home are a dime a dozen, I'm excited to share with you some insider secrets you may not have heard elsewhere - one for each stage involved in buying a home. Here's to helping you make the best decisions at every phase of your homebuying process!

Stage One: Deciding Whether It's The Right Time to Buy. ...
Why: Everyone knows affordability is at an all-time high. Home prices are low, and so are interest rates....

Stage Two: Getting Pre-Approved. Insider Secret: Working with a mortgage broker referred by your real estate broker or agent may save you money. ...

Stage Three: House Hunting Insider Secret: "Distressed" doesn't always equal "discounted" - in some cases, a "regular" sale can be a deeper deal.
Why: Short sales and foreclosures have grown to comprise roughly 30 percent of the homes sold on today's market, even higher in some areas....

Stage Four: Negotiations Insider Secret: Your family and friends can cause you to lose your dream home. Why: With so much information on the web and the news every day about the recession and the buyer's market, everyone seems to be an armchair economist/real estate savant....

Stage Five: Escrow, Inspections and Underwriting Insider Secret: It's critical that you attend your home inspections. Why: When it comes to inspections, many first-time buyers expect that a home will either pass or fail. ...

 

5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals)

On today’s market, every savvy seller wants to know what turns buyers off, so they can get their homes sold as quickly as possible, for as much as possible. But buyers, take note – there is a minefield of seller turn-offs you can trigger that hold the potential to keep you from getting the home you want at the best price and terms, or to unnecessarily complicate dealings with your home’s seller.

...
1. Trash-talking. Trash-talkers are the home buyers who think they’re going to negotiate the list price down by slamming the house, ...

2. Being unqualified for mortgage financing. When a seller signs a buyer’s offer, most often the seller agrees to effectively pull the home off the market, forgoing other buyers who might be interested. ...

3. Making unjustified lowball offers. No one likes to feel like they are being taken advantage of. And sellers generally know the ballpark amount that their home is worth, ...

4. Renegotiating mid-stream. Sellers plan their finances, moves and - to some extent – their lives around the purchase price a buyer agrees to pay for their home. ...

5. Misleading or setting the seller up. Remember when we talked about buyer turn-offs? Being misled by listing photos or very fluffy property descriptions was high on the list. ...

 

8 Steps to Getting Your Finances in Order

1. Develop a family budget. ...
2. Reduce your debt....
3. Get a handle on expenses. ...
4. Increase your income. ...
5. Save for a down-payment. ...
6. Create a house fund. ...
7. Keep your job. ...
8. Establish a good credit history.
...

8 Ways to Improve Your Credit

Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for.
1. Check for and correct errors in your credit report....
2. Pay down credit card bills....
3. Don't charge your credit cards to the maximum limits.
4. Wait 12 months after credit difficulties to apply for a mortgage. ...
5. don't purchase big-ticket items for your new home on credit cards until after the loan is approved. ...
6. don't open new credit card accounts before applying for a mortgage. ...
7. Shop for mortgage rates all at once. ...

10 Pieces of Paper You Must Round Up to Buy (or Sell) a Home

Home buyers and -sellers alike often bristle with anticipatory irritation at the mere thought of all the paperwork they expect they’ll have to come up with to do their transaction, above and beyond the basic loan application, contract, disclosures and closing docs. ...

1. ID (e.g., driver’s license, state-issued ID, passport). Who must produce it? Buyers and sellers. Why? Uh, hello!?! ...
2. Paycheck Stubs. Who must produce it? Any buyer financing their purchase with a mortgage. ...
3. Two months’ bank account statements. Who must produce it? Buyers getting financing; sellers selling short....
4. Two years’ W-2 forms or tax returns. Who must produce it? Mortgage-seeking buyers and short selling sellers....
5. Updated everything. Who must produce it? Buyer/mortgage applicants....
6. Quitclaim deed. Who must produce it? Married buyers purchasing homes they plan to own as separate property. ...
7. Divorce decree. Who must produce it? Buyers and sellers who need to document their solo status or the property-splitting terms of their divorce....
8. Gift letters. Who must produce it? Buyers using gift money toward their down payment....
9. Compliance certificates. Who must produce it? Usually sellers, but sometimes buyers, by contract....
10. Mortgage statements. Who must produce it? Any seller with a mortgage....

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Jennic Property Solutions
233 W. Mountain St. - Suite 101
Kernersville, NC 27284
336-782-0778 336-782-0778 336-782-0778