You are hiring a real estate agent to guide you in selling or buying a house. Most of the time, you rely on his expertise when making sound judgment. But there are some things that you can do to make his job easier. At the back of his mind, here are some things he wishes you already know about home buying process.
1.Switching job or accepting a promotion can hurt your loan application
Your job history is very important when securing a loan. When you switch job from different companies with the same or different position, it can have a negative effect in securing a loan. Even if you stay with the same company but you accept a promotion, that too can cause a delay in your loan approval.
2.Don’t quit your job
No matter how much of a drag it is for you to go to work every morning, don’t quit your job just yet. The lending company might verify your current employment to check your capacity to pay for the last time on the day of closing.
- National lenders are stricter than local ones
Local lenders tend to be more responsive than national lenders. If you want a good offer that is faster, search for lenders within your area. Compare and contrast what they can offer versus their national counterparts.
- Do some research on your own
Check the neighborhood. If it is near an airport, you know that the noise will be an everyday irritant. If it is near a school, it is good if you have kids who will go to that school. Otherwise, it can mean screaming kids and school bells. Instead of waiting for your agent to describe the neighborhood, you can investigate some facts about it. Word of advice: the neighborhood can change in the evening. Drive around the neighborhood to see how it’s like at nigh time.
- Buying/Selling a house is not an easy task
Don’t give your agent a deadline in getting you a buyer or a new house. Real estate is a complicated business. It is not a one day transaction. You have to work hard with your Boerne Real Estate agents. It can last for months or even years. The approval for your loan alone can take several months. Your agent wants you to know this so that you will not constantly ask him when are you going to move in to your new house.