Should First Time Buyers Use A Real Estate Agent?

Financing

Your real estate agent has no control over financing; however, they are often the first people to know when a new program is available. For example, recently there was a FHA based program that offered 100% financing for people who fell within the income guidelines. These programs are often time sensitive and dependent upon funding. In other words, the sooner you know about the program and the quicker you submit an application the better your chances for obtaining this type of financing.

Pricing

Real estate agents make a living selling homes, for many this is their primary occupation and as such, they are very well versed in home pricing. When you have a real estate agent working for you, as opposed to simply dealing with the seller’s agent, you have a person who will be quick to point out that a property is overpriced in comparison to other recent sales in the area.

Forms

There are standard forms for purchasing real estate, but if you are a first time buyer, you are not likely to be familiar with them. A good real estate agent will go over any and all forms you may be asked to sign and will take the time to explain them thoroughly. If you begin working with an agent who does not fulfill this obligation, look for a new agent.

Multiple Listings

Nearly every home on the market today will be part of a multi-listing. This means that any agent can show you a home, regardless if their office listed the property or not. If you were to go it alone you could quickly find yourself faced with several different listing agents, it is better to have one agent of your own.

Listing Agents

A listing agent has one job and that is to sell the property for the best offer possible. In other words, they work for the seller and will put their interests before anyone else. Remember their commission is based on the final sales price of the property and if they can sell to you without another agent’s involvement, they make more money. When there are two agents, listing and buyer’s agent, the commissions are shared.

Conclusion

There are many ways a real estate agent can make your first home buying experience a positive one. They will work tirelessly for you, advising, showing homes and explaining complicated paperwork all with one goal in mind, the successful purchase of a home for you. Take your time and interview potential agents until you find the agent you feel the most comfortable with.

Where to get a Home Equity Line Of Credit Loan online

A fixed rate home equity line of credit can help you out of a jam if you are strapped for cash. What would have to do if someone in your family were to be injured or to even lose a job? Do you have enough finances in the bank to cover your expenses including your mortgage payments for several months? If not, this is where a refinance home equity line of credit comes into play.

You can draw on the equity through a refinancing second mortgageloan to make all of your debt payments plus pay for your living expenses until the crisis is over. This is a much better alternative than using credit cards to live off of. Simply because the payments on a HELOC loan are typically going to be smaller. Plus the interest is typically going to be tax deductible.

It’s fairly common knowledge that banks are going to be more than willing to loan you money with decent home equity line of credit rates when you don’t really need it. However, if you hit a rough patch in your financial life and need cash desperately, it can sometimes be difficult to get the help that you need. A HELOC loan can help you out of this situation.

In other words it is going to be much easier for you to get a fixed rate home equity line of credit when you don’t really need one rather than to wait and try and get one when you really need it. This is the really great thing about a refinance home equity line of credit and makes this a fairly desirable mortgage loan. Is that there are no payments due unless you use it. This second mortgage for bad credit can also usually be free for those with good credit.