Marketing Homes of Distinction
I am a first time Buyer. How much does using a Realtor cost me?
Nothing
For a Buyer, the services of the Realtor are paid for by the Seller of the home. The fees are typically pre-determined in the Seller Brokerage Agreement when the home is listed. Many first time Buyers are unaware of this fact and therefore choose not to use a Realtor thinking that they will save money. As I said before, the relationship between Buyers and Realtors must be based on trust, mutual goals and understanding. You should develop a relationship with your own Realtor prior to starting out on your real estate journey.
What do I need to do before I think about purchasing a home?
Get Your Finances in Order
Often when people are considering buying a home whether it be a first time investment or another home, they believe they can just puchase one like buying a new item for a kitchen. That is not usually the case. Here are some things you should do before you buy a home.
Check with a lender to see what you qualify for. You should know facts such as:
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Annual Income
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Amount of Cash you have for a down payment*
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Other Home Loans
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Credit Card Balances
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Other Loan Balances (Vehicles, etc.)
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School Loans
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Other factors affecting your income e.g. child support, tax payments, dividends, etc.
Do I need to be prequalified?
It is generally a good idea to get prequalified
Many sellers require a prequalification letter with your offer to purchase. So you should have that readily available when it comes time to make an offer. In general it will make your offer look stronger.
What is the cost of prequalification?
There is no cost associated with getting prequalified.
What is prequalification?
Prequalification is where you have spoken to a lender about a possible home loan
This is when you have spoken to a lender, usually over the phone. You will provide him with the information described above. They in turn will give you an estimate of what they believe you would qualify for if all the information you have given them is accurate.
IT DOES NOT MEAN YOU ARE QUALIFIED!!
People often think because they are prequalified they can get the loan when they find the home of their dreams. That is not true. At this point in the loan process they have not run a credit check, or verified any of the information you have provided. There may be things on your credit report that are inaccurate or that you have forgotten about that may inhibit the loan process, or affect the loan amount.
If I find a home that is not listed by you can you still show it to me?
Yes
I am able to show you ANY home, new or resale, no matter who the listing broker is.
If you see a home advertised in the newspaper, or if you drive by a home that interests you, please call me! If you visit an Open House or a New Home Community, please tell the seller's agent in the home that I am representing you.
Remember, home information is always available to me, even if it is not a Maxwell Canyon Creek listing.
Would it be in my best interest to work with several Realtors and not just one?
It is in YOUR best interest to work exclusively with one Realtor
I have access to every home that is in the Calgary and surrounding area Multiple Listing Service. I am self-employed, not on an expense account, and will be paid only when I find the right home for you. Your loyalty is appreciated, and in return, you will receive the maximum in service from me. All of my time and professional advice, experience, and assistance is FREE to you!
THE REAL ESTATE COMPANY LIMITED
11 5080 12A ST SE
Calgary, AB, T2G 5K9
403-270-4060