Your loan is important, but your real estate agent is even more important. Good agents know the good lenders. Your agent will help you choose the lender and loan right for your situation.
A pre-approval differs from a pre-qualification. With the former, the lender has actually checked your credit and verified your documentation to approve a specific loan amount. A pre-qualification can be useful to estimate how much you can afford to spend on your home, but it’s a less accurate indicator of your ability to purchase. A pre-approval always carries more weight.
These are subject to change. For the four major loan types: Conventional – minimum 620, FHA – 500 (with 10% down) or 580 (with 3.5 % down), VA – none officially, but usually 620, and USDA 640.
The most common answer is 3% to 5% of the purchase price. FHA loans are usually 3.5% down. Some conventional loans only require 3% down. Veterans are usually eligible for a VA loan, which requires no money down. Properties in rural areas are usually eligible for a USDA loan, which also requires no money down.
Under normal circumstances, you will get the keys at the closing. A home closing typically takes about an hour. In some cases, the lender will need time to fund the loan, and you will need to pick up the keys after the loan has been funded. If you have a Friday evening closing and the loan cannot fund until Monday, you may not get the keys until Monday. Make sure to coordinate your closing to get the keys on the same day, if that is what you need.
On average, a staged home sells 88% faster and for 20% more money—than a home that’s left as is. Of course, the reason it works is it gives buyers a “stage” onto which they can play out their home-owning fantasies and envision themselves living in your home.
No, you can’t. There are several trendy real estate websites out there now that offer pricing options for sellers. While they are undoubtedly useful for getting a general idea of your home’s value, they are not sufficient for pricing a home for sale.
Pricing a home to sell in a reasonable time frame and for the best possible price is both an art and a science. It requires up-to-the-minute market knowledge of what is going on at a local level, and it requires a feel for how your home compares to other similar homes in your market. A website algorithm cannot substitute for a skilled real estate agent.
Many homeowners are mistaken that what Zillow says their home is worth is the actual value. No, it is not! In fact, the amount they display on their website could be off by tens of thousands of dollars. When you are selling a home, you can’t afford to be off on your price. It is the most critical factor in selling a home.
You’re always better off being honest and upfront. Disclosing any defects, you are aware of with the house. Whenever possible, fixing them before going to market is best. This can avoid potential issues and/or lawsuits once your home is under contract, after inspections, and even years after you have sold your house.
When hiring a real estate agent, it is important to know if they will be representing you exclusively. Some real estate agents practice dual agency, representing both the buyer and the seller in a transaction. This practice has been banned in Colorado and should be made illegal everywhere.
If you allow dual agency, your real estate agent will become a neutral party in the transaction. They will no longer be in your corner to get you the best terms and conditions in the sale. In fact, the only benefit in dual agency goes to the real estate agent who will be collecting double the commission.
In a dual agency, the real estate agent has the incentive to close the sale, whether it benefits you or not. Reject dual agency!
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Real Estate Agents in Northern Colorado serving Fort Collins, Greeley, Loveland, Windsor, Timnath & surrounding areas.
Sherry (970) 215-3111
Joy (970) 290-6809
3720 S College Ave, Fort Collins, CO 80525
