We are now days away from the next buying/selling season. Because the fall is shorter than the busy spring season, it’s even more important to be prepared going into the process. If you plan to buy, now is the time to get your finances in place. One of the most important items on your list is the pre-approval letter, which you can get from either your bank or your mortgage person.
When you are meeting with a lender you should ask the following questions:
- How long have you been in the mortgage business? And how long have you been with your company?
- How much time will I need for loan and appraisal contingencies? And how long will it take to close my loan?
- Are there any fees for the mortgage loan application or approval process?
- Are you a bank or a broker?
- How quickly will I receive my good faith estimate and will you explain in detail?
- What, if any, additional fees will be needed at closing?
- When will I be able to lock in my rate and for how long?
These are all important questions and a strong reputable mortgage person will be able to answer any and all of these questions for you.
Once this is done, your next step will be to find the best realtor for you. Not all realtors are created equal. Just like you sat down with your mortgage person, you should also interview a potential realtor and ask these few questions:
- How long have you been a realtor and how many transactions have you done in the last year?
- With your clients in mind, what is your belief system?
- What towns or areas are you most knowledgeable about?
- What is your best marketing plan or strategy for my needs?
It’s just so important to find a person you are comfortable with, who will listen to your needs and will work for your best interest.
Brick House Realty is offering free "Buyers and Sellers" workshops throughout the year. Our next Buyers workshop will be held from 6 to 7 p.m. on Wednesday.