CENTURY 21 Classic Gold



Posted by CENTURY 21 Classic Gold on 5/22/2020

The weeks and days leading up to a home closing can be stressful, particularly for a homebuyer who is already trying to do everything possible to secure his or her dream residence. Fortunately, we're here to help you simplify the process of getting to your closing date.

Now, let's take a look at three tips to ensure you can enjoy a fast, easy home closing.

1. Get Your Paperwork Ready

It often helps to get all of your homebuying paperwork ready before you pursue a residence. That way, you can minimize the last-minute stress associated with searching far and wide for pay stubs, tax returns and other documents that you'll ultimately need to get financing for a residence.

Furthermore, you should meet with local banks and credit unions as soon as you can. If you can get approved for a mortgage prior to starting a home search, you may be able to speed up the process of acquiring your ideal residence.

2. Be Prepared to Cover Your Closing Costs

Although you might have financing to cover your monthly mortgage payments, it is important to remember that you may need to pay closing costs to finalize your home purchase. As such, if you begin saving for your closing costs today, you can guarantee that you'll have the necessary funds available to purchase your dream residence on your scheduled closing date.

Also, you should be prepared to present a cashier's check or wire funds when you close on a house. If you plan ahead, you should have no paying off your closing costs when your complete your home purchase.

3. Schedule Your Final Walk-Through Before Your Closing Date

When it comes to a final walk-through on your dream house, why should you leave anything to chance? Instead, set up the final walk-through at least a few days before you're scheduled to close on a house.

If you find problems with a house during a final walk-through, you'll want to give the seller plenty of time to address these issues. Thus, if you schedule a final walk-through several days before your closing date, you can ensure that any home problems can be corrected without putting your closing date in danger.

For homebuyers who are worried about a home closing, there is no need to stress. In fact, if you work with an expert real estate agent, you can receive plenty of support throughout the homebuying journey.

Typically, a real estate agent can explain what you should expect in the time leading up to your closing date. If you have any concerns or questions before a home closing, a real estate agent is happy to address them. Plus, when your closing date arrives, a real estate agent will help you remain calm, cool and collected as you purchase a home.

Ready to streamline the process of closing on a house? Use the aforementioned tips, and you can reap the benefits of a quick, seamless home closing.





Posted by CENTURY 21 Classic Gold on 4/10/2020


 Photo by Tayeb Mezahdia via Pixabay

When you start looking for your dream home, you need to know how much mortgage you will qualify for. Your real estate agent might ask you to get a pre-qualification letter. However, just because you are pre-qualified doesn’t mean that you will get the loan. You need a pre-approval for that, and even then, the mortgage company might not approve your application.

Pre-Qualification

A pre-qualification letter just tells you how much loan you can afford. The lender does not check your credit, your debt-to-income ratio or other factors before issuing a pre-qualification letter. Additionally, a pre-qualification letter is dependent on the information you provide to the lender. The pre-qualification essentially gives you an estimate of how much home you are able to afford so that you do not look at homes that are not within your range.

To get a pre-qualification, you supply the lender with your assets, debt and income. Because the lender bases its decision on the information you provide, rather than information from outside sources, a pre-qualification is not a guarantee that you will get the loan.

Pre-Approval

Getting pre-approved for a loan usually takes longer than getting pre-qualified. The lender pulls your credit report and might ask for additional documents, including tax records and bank statements. To get pre-approved, you must complete a loan application and provide your social security number. The lender might charge an application fee for a pre-approval.

With a pre-approval, you will have a closer interest rate assessment, that is usually not finalized until the loan goes through underwriting. Once the lender pre-approves you, it will send you a conditional commitment for the loan amount. You can look for homes at or below that price.

In a market when buyers bid against each other – a seller’s market – having a pre-approval letter might give you a step up with the seller, who will more likely choose an offer by someone more likely to get the loan. Thus, if you and someone else submit a bid on your dream home, but the other person only has a pre-qualification letter, the seller might accept your offer, even if it is not as good as the other buyer’s offer, simply because you are more likely to get the mortgage.

For a pre-approval, you will need to:

  • Complete the lender’s mortgage application;

  • Possibly pay an application fee;

  • Supply your social security number and allow the lender to pull your credit;

  • Provide financial information to help the lender make a decision; and

  • Tell the lender how much you plan to put up as a down payment.

After you are pre-approved and the seller accepts your offer, you will then have to provide the rest of the documentation to the lender, including the accepted offer, bank statements, retirement account statements, taxes for up to two years, proof of income and other documents that will help the lender come to a concrete decision.





Posted by CENTURY 21 Classic Gold on 3/27/2020

The homebuying journey can be long and arduous, particularly for an individual who makes mistakes along the way. Fortunately, an informed homebuyer can identify potential problems early in the homebuying journey and take the necessary steps to resolve such issues without delay.

Now, let's take a look at three common mistakes that homebuyers make, along with the best ways to eliminate these problems before they escalate.

1. A homebuyer spends too much time debating whether to submit a home offer.

The housing market moves quickly, and a homebuyer who hesitates to submit a competitive offer on a residence risks losing this house to a rival homebuyer.

Ultimately, it pays to learn about the real estate market. That way, if you fall in love with a house, you'll be better equipped than other homebuyers to submit a competitive offer before it's too late.

Check out the prices of houses in cities and towns where you'd like to live. This may help you narrow your search for the perfect home and provide housing market data that highlights how much it may cost to acquire your dream residence.

Also, take a look at the prices of recently sold houses in different areas. This will enable you to determine whether you're working in a seller's market or a buyer's one.

2. A homebuyer foregoes a home inspection.

Even though a homebuyer may want to rush through the purchase process, there is no reason to forego a home inspection.

When it comes to buying a residence, it is always better to err on the side of caution, and a home inspection offers a valuable opportunity to learn about a house's condition and uncover any "hidden" problems with a residence.

For example, a home inspection may reveal roof damage that could lead to thousands of dollars in roof repairs in the near future. On the other hand, a home inspection may show there are no major issues with a residence, thereby verifying that a house is a sound investment.

Don't forget to consider a variety of home inspectors before you schedule a property inspection. This will ensure that you can find a home inspector who possesses the necessary skills and expertise to perform a deep evaluation of a home before you finalize your purchase.

3. A homebuyer tries to purchase a house without support from a real estate agent.

For those who want to streamline the homebuying process, expert help may be necessary. Luckily, you can hire a real estate agent who can help you seamlessly navigate the homebuying journey.

Real estate agents are easy to find in cities and towns nationwide. Meanwhile, these housing market professionals are available to help you narrow your home search, submit offers on residences and much more.

If you need additional help during the homebuying journey, it usually is a good idea to hire a real estate agent. By doing so, you can receive the expert guidance and support that you need to go from homebuyer to homeowner.





Posted by CENTURY 21 Classic Gold on 2/7/2020


 Photo by Ricarda Molck via Pixabay

More and more communities are creating spaces for both individual homes and multifamily townhomes. Both styles offer lots of space, comfortable living and access to a neighborhood's amenities -- but there are some key differences that might make one style more suitable for you than another. Learning more about the differences between these styles of home can help you make the best possible decision for your family and needs. 

Luxury Townhomes vs. Single Family Homes -- What's the Difference? 

When luxury homes and townhomes are in the same neighborhood, they often have similar design styles, interiors and access to amenities, but there are some key differences to be aware of. Consider the following when you choose your next home. 

Your family size: How much space do you need, both now and in the future? A growing family may find that a bedroom is needed for each child and that more living space is better -- or will be in the future. Singles or retirees may need a guestroom and space to entertain, but not a lot of extra bedrooms or living space, so a smaller, more compact townhome may be the best bet. 

How much maintenance will you do? Do you love to garden, enjoy caring for the yard and the exterior of your home? If so, then a single family home will give you the space you need without being burdensome when it comes to maintenance. If you prefer to enjoy landscaping, hardscaping and even external maintenance and features that are cared for by someone else, then a townhome is likely a better option. 

How do you feel about stairs? It may not matter now, but there may be a day in the future that a single level home serves you better than a home with stairs. Many, but not all townhomes are multilevel, so be sure you are comfortable with steps (or have space to make accommodations later). SIngle family homes are often (but not always) on a single level, making the entire home accessible. 

Will you resell the home? If you expect to move again in a few years, then consider the resale value of the property. Your realtor is the best source of information here and can help you determine if one type of home moves more swiftly in your current location. Some markets can't keep up with demand for low-maintenance townhomes, while others have a huge demand for family homes. Knowing the preferences in your own area can help you determine how easy it will be to sell if you need to. 

Which Home is Right for You? 

Consider both your current needs and any potential future changes when you choose between these models. If you know you will have kids and want a big yard in the future, then a single family home is likely your best bet, even if you are not expecting right now. If you are enjoying your golden years, there may come a time that a big property and the care it needs may be too much for you -- investing in a stunning and comfortable townhome now will ensure you are comfortable later. 




Categories: Properties  


Posted by CENTURY 21 Classic Gold on 1/3/2020

Deciding whether to submit an offer to purchase a house may prove to be difficult. Fortunately, we're here to help you weigh the pros and cons of submitting a homebuying proposal so you can make the best-possible decision.

Now, let's take a look at three tips to help you determine whether now is the right time to submit an offer to purchase a residence.

1. Evaluate Your Budget

If you believe you've found your dream home, you should take a look at your budget. That way, you can verify whether you'll be able to afford this residence both now and in the future.

Oftentimes, it helps to get pre-approved for a mortgage before you start a house search. If you meet with banks and credit unions, you can learn about all of the mortgage options at your disposal. Then, you can select a mortgage that allows you to pursue a house with a budget in hand.

2. Consider Your Homebuying Criteria

You want to discover your dream residence as quickly as possible, but it is paramount to find a house that you can enjoy for years to come. If you have a list of homebuying criteria, you may be able to quickly determine whether a residence is right for you.

As you craft homebuying criteria, think about what you want to find in your dream residence. For instance, if you've always wanted to own a house on a beach, you can narrow your home search accordingly. On the other hand, if you would like to own a home that has an above-ground swimming pool but can live without this feature if necessary, you should include an above-ground swimming pool as a low-priority item on your homebuying checklist.

3. Assess the Housing Market

The housing market often fluctuates, and a buyer's market today may shift into seller's favor tomorrow. If you analyze the housing market closely, you can differentiate a buyer's market from a seller's one. You then can decide whether to submit an offer to purchase or hold off on providing a homebuying proposal until housing market conditions improve.

To distinguish a buyer's market from a seller's market, it generally is a good idea to look at the prices of recently sold houses in your city or town. You also should find out how long these residences were available before they sold. By reviewing this housing market data, you can assess the demand for houses in your city or town.

Lastly, as you debate whether to submit an offer to purchase a residence, you may want to consult with a real estate agent. This housing market professional is happy to provide honest, unbiased homebuying recommendations. As a result, a real estate agent can help you perform an in-depth evaluation of a home and determine whether to offer to buy this house.

Make an informed decision about whether to submit an offer to purchase a residence use the aforementioned tips, and you'll be better equipped than ever before to decide how to proceed with any house, at any time.







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