St. Paul & Suburbs Real Estate

For Buyers


Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. My services and experience range from  selecting the right loan program for you to helping you find the home that best suits you and your family. We also have extensive knowledge with short sale and foreclosed properties.  Foreclosed properties are owned by the bank and we will only deal directly with the bank.  On the other hand, short sales mean that there still is a seller.  They are selling their home for less than they owe.  If we make an offer on a short sale, the bank needs to okay the amount offered which could take several months.  Below are some things to consider when looking at short sale properties.

 

Counseling Buyers about Short Sales
By Jim Tice
Buyers are often drawn to short sale listings because of aggressive pricing, but the short sale process can be mind-numbing for the unprepared, the unwilling, or the uninformed.

You might choose to avoid listing short sale properties, but it is unlikely that you can avoid buyers who want to buy one. Below are some points to discuss with those buyers before entering the short sale environment:

  1. calendarDo you have the patience to wait for 30-90 days before finding out whether your offer is accepted by the lender?

  2. Is it OK with you that the seller takes no responsibility for the condition of the property and its components?

  3. Do you have money in reserve to make the house habitable, to make necessary repairs, or to comply with lender and municipal inspection work orders?

  4. Do you have the flexibility of an alternative place to live in the uncertain time period before closing and possession?

  5. Can you afford, psychologically and financially, to start all over again if the lender says no?

  6. Can you accept last minute surprises, changes, and expenses?
Not every buyer can handle those harsh realities. And they must also understand that they will be dealing with a relatively indifferent seller with no equity in the transaction, and a lender who's losing money. However, the short sale can provide your buyer with a real value, and you can earn a commission that you wouldn't have otherwise. You'll both need patience, and knowledge of the process.

 

For your convenience, I also provide listings by email. Here, you set the specific criteria for your new home and my automatic e-mail program sends you new listings as they hit the market including foreclosed properties.  I pride myself on repeat and referral business.  Give me an opportunity to exceed your expectations.

How I Can Help
Before you start looking
Closing Costs

As Your Agent, I Will:

  • Look out for your best interest.  It is my duty to give you objective feedback as to the homes value, condition and future saleability.
  • You see all the properties in the areas you have selected. Whether the homes are through the MLS or a for sale by owners, we'll see them all.
  • Guide you through the entire home buying process, from finding homes to view, negotiating the best price for the home, home inspections, and financing.
  • Make sure you don't pay too much for your new home by doing a Market Analysis. Here, I will determine the true value of the home you are considering purchasing by providing you with comparable homes that have recently sold in the neighborhood you are considering purchasing in.
  • Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.
  • I will help you choose a title company who will explain the different terms in what a title company does and what title insurance is for.
  • I will work with you up to and through the closing. I will be in constant contact with you to keep you informed of the progess of your purchase.
  • I will attend the closing to insure it is goes smooth.
  • Just because you've closed, doesn't mean my job is over.  I will follow up after the closing to be sure no issues have arised once you've moved into your home 

Before You Start Looking For Your New Home:

  • Read the Buyers Advice column; httpp://realtytimes.com/nlnews.htm?open&Vol=c&ID=Paulalsides
  • check your credit rating. Straighten out any errors before its too late.
  • Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
  • Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
  • Choose a REALTOR® that you trust and who understands your needs.
  • Determine what neighborhood best matches your needs.
  • Identify important features you need your new home to have.

Closing Costs to Expect:

  • Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.
  • Third-party fees include charges for insurance, title search, and other inspections such as termites.
  • Government fees include deed recording and state & local mortgage taxes.
  • Escrow and interest fees include homeowner's insurance, loan interest, real estate taxes, and occasionally private mortgage insurance.

Find out how much your closing costs could be.

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PAUL ALSIDES