Jim Curry - Home Buyers Guide V2 Book

To avoid fin ancing becoming an issue as a last-minute deal breaker, please ensure you have been pre-approved for a mortgage, and for the appropriate amount. You might be surprised at how many applications are rejected during the mortgage approval process. Wait to get your fin ances in order before you apply for a loan, and then wait again to be pre-approved before you go o ff searching for homes, fin ding the perfect one, making an o ff er, etc. — only to have the deal go through because you didn’t end up qualifying for the loan a ft er you’ve gotten yourself emotionally invested in a home you can’t have. Going through the entire process and fin alizing everything with the seller and listing agent, but then faltering in the fin ancing department, will stall or probably sink the deal, almost every time. Title insurance and even more home inspections should also be expected as part of the closing process. Th e lender will have to ensure the seller fully owns the house. Defaulters will not own the house fully. It’s important that you keep these potential pitfalls in mind before you get to the closing process. If something goes wrong, but appropriate contingencies are in place, the deal could still be saved. But better to be safe than sorry — so protect yourself and take the right steps to get you where you want to go. HOW TO GAIN AN ADVANTAGE: Th e best way to gain the upper hand in the entire home-buying process is to hire and have a professional and experienced real estate agent working with you through each of the above- mentioned steps, guiding you all along the way throughout this sometimes complicated process. By using this guide and following the 12 steps outlined, you’ll know what you’re getting into ahead of time, and you can do extra 90

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