Dean Graziosi

Deciding to sell your home is one of the biggest decisions you can make.  Many buyers today are looking for homes that are move in ready.  If your home is need of some repairs, you may want to make then to ensure that your home doesn’t sit on the market for months.  The more appealing your home is to potential buyers the faster you will be able to sell it.  Below are some helpful tips that can help you sell your home quickly.

• Hire An Inspector – Hiring an inspector to perform a pre-sale inspection will show you any problem areas that can stop a sale down the road.  The inspector will provide you with a list of problems that you may want to fix before listing your home.  The inspection will also alert you to problems that a buyer’s inspector may find later, it is better to be proactive and take care of the problems now rather than later when it may cost you a sale.
• Get Estimates – If your inspection shows some problems that may be above your skill level to repair you should get estimates from contractors who can properly fix the problems.  If you decide to list your home for sale without making the repairs, the estimates you obtained can help the buyer determine if it is in their budget to make them in addition to purchasing your home.  During this time you should also locate instruction manuals, warranties and guarantees for any appliances that you are including in the sale as well as air conditioning units and furnaces.
• Fix The Minor Stuff – If your home is need of some minor repairs that will likely improve the chances of it selling you should make them.  It is recommended that you take care of as many minor problems as you can.  These can include fixing loose drain pipes, torn screens, doors that stick and leaky faucets. 
• Remove The Clutter – You should remove all of the clutter that is commonly found on countertops and tables.  You should also empty your closets of items that are not currently in use.  By providing buyers with a clutter free home it will be easier for them to imagine their belongings in the home.
• Clean The House – While this may seem like a natural thing to do when selling your home you would be surprised by how many people don’t do it.  Presenting a clean house will make a strong first impression that you have taken good care of your home.  This should include washing the windows, shampooing carpets and drapes, cleaning the light fixtures and baseboards.  You should also clean the floors well and go over all of the appliances. 

Buyers like to look at homes that are appealing; by performing some of these steps you will greatly increase the odds of your home selling quickly.

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Getting approved for a mortgage has become increasingly difficult in recent years due to the state of the real estate market.  It is estimated that lending standards will continue to remain strict in 2012, while the process of getting approved for a loan may be difficult it is not impossible for you to obtain a mortgage at an acceptable rate.  If you are prepared and know what lenders are looking for you will have no trouble acquiring a loan.

• Know Your Credit Score – Good credit is one of the most important things needed to acquire a mortgage.  Request copies of your credit report from the three credit reporting agencies.  If you notice any errors or outstanding balances you should take care of those items before applying for a home loan.
• Plan Ahead – Every mortgage lender requires certain documents when applying for a mortgage.  Gathering these documents now can help save you valuable time later.  You will need to have your last two pay stubs, w-2’s, income tax returns and bank statements.
• Create Your Budget – Don’t leave your budget up to your mortgage broker.  Although you may be approved for a high loan that doesn’t mean you need to buy a home at that price range.  You know better than anyone how much you can realistically afford. 
• Shop Around – When looking for a mortgage it is just as important to find the right loan as it is to find the right house.  You should take into consideration closing costs, points and the type of loan you are getting.  These are all important things to consider when choosing which bank to go with.
• Don’t Procrastinate – Once you have submitted your loan application to a lender you have a short amount of time to supply any other documents necessary to approve your loan.  If you take too long to hand over these documents you may end up blowing the deal.  Whenever a bank requests something from you supply it as soon as you can.
• Maintain Your Credit – Once you have been approved for a home loan you should still keep your credit rating at the same level.  To do this do not apply for any new credit cards or lines of credit, these can affect your credit and may cause the lender to change their mind about your loan.
• Consider Refinancing Without The Closing Costs – To save money when refinancing your home loan you should consider the option of refinancing without closing costs.  This will allow you save money on closing costs while adding a few extra dollars to your monthly payment.  This is a great option for those who may not be able to come up with money required at closing.

These are only a few steps you can take to help save money during the course of acquiring a home loan.  If you are considering applying for a home loan these are some of the most important things you can do to help improve your odds of being approved.

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Buying a home can be an expensive venture, and there is no doubt that anyone preparing to purchase their first home understands this fact. However, most first time home buyers are not aware of all of the up front costs of buying a home. They know there is a down payment and something called closing costs, but what those costs are and how much they might be are beyond them. In addition, there are other up front costs to buying a home that many first time home buyers are completely unaware of until they get involved in the process. It is important to understand all of the costs associated with this type of investment so you can be prepared and have enough funds on hand to cover all of the expenses.

Of course, the biggest up front cost you will have is your down payment. The down payment is usually a minimum of three to five percent. You can opt to make a larger down payment of ten or twenty percent to get a lower interest rate or better terms. So, if you are buying a home worth $200,000, your down payment will be around ten grand.

The next bit of costs that everyone seems to hear about but barely understand is closing costs. Closing costs are costs associated with getting the loan to buy the house. These fees vary depending on the lender and the terms of your loan. There is really no way to know exactly what fees will be associated with the closing costs until you are involved in the process. All of the closing costs will be disclosed to you before the finalization of the sale. Additionally, closing costs must be paid before the sale is final.

There are a few other fees that you should also be prepared for. You will have to get an appraisal, a home inspection, a credit check, and a title check. All of these services come with a fee. In addition, you have to get insurance on the home prior to the closing of the sale, which means more out of pocket funds.

Altogether, between these fees and the closing costs, the cost of buying a home can add up quickly and catch a new home buyer off guard. It is important to be prepared for all of these costs. To be prepared for closing costs and other fees, you should have about two to four percent of the purchase price of the house for closing costs and other up front costs. So if you are buying that $200,000 home, you will want at least four thousand dollars saved up for the other up front costs of the home purchase. 

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