Afonso Real Estate



Posted by Afonso Real Estate on 5/23/2018

Filling out a mortgage application may prove to be a long, exhausting process. Fortunately, we're here to help you streamline the mortgage application process so you can move one step closer to acquiring your dream house.

Now, let's take a look at three tips to help you approach the mortgage application process with confidence.

1. Be Thorough

A mortgage application likely requests a lot of information about you, your finances and your employment history. However, it is important to answer each mortgage application question to the best of your ability. Because if you fail to do so, you risk delays in getting approved for a mortgage. Or, perhaps even worse, a lender may decline your mortgage application.

In addition, be honest in all of your mortgage application responses. This will ensure that if your mortgage application is approved, you will receive a mortgage that corresponds to your finances.

2. Ask Questions

There is no need to leave anything to chance as you complete a mortgage application. Thus, if you're uncertain about how to respond to various mortgage application questions, reach out to a lender for assistance.

Remember, there is no such thing as a "bad" question, especially when it comes to filling out a mortgage application. Lenders employ friendly, knowledgeable mortgage specialists who are happy to assist you in any way possible. Work with these mortgage specialists, and you can get the help you need to finalize your mortgage application.

3. Get Multiple Quotes

It may seem like a good idea to complete a single mortgage application to request home financing from a single lender. Yet doing so may be problematic, particularly for those who prioritize affordability.

Ultimately, meeting with multiple lenders and getting several mortgage quotes is ideal. If you shop around for a mortgage, you may be eligible for a low interest rate that helps you save money when you complete a home purchase.

Once you finish a mortgage application, it may be only a matter of time before you find out if you have received approval. Then, if you receive a "Yes" from a lender, you can accelerate the homebuying journey.

Of course, for those who plan to buy a home soon, it may be beneficial to employ a real estate agent. This housing market professional can put you in touch with the top lenders in your area, as well as help you complete a home search in no time at all.

A real estate agent typically learns about a homebuyer's goals and crafts a strategy to help this buyer accomplish his or her aspirations. Furthermore, a real estate agent provides recommendations and tips to help a homebuyer make informed decisions throughout the property buying journey. And if a homebuyer ever has concerns or questions, a real estate agent is available to respond to them.

Ready to complete a mortgage application? Use the aforementioned tips, and you can finalize a mortgage application, obtain home financing and make your homeownership dream come true.




Tags: Mortgage   Buying a home  
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Posted by Afonso Real Estate on 5/16/2018

There’s a lot to buying a home. There’s no perfect home. Home inspectors will tell you that even brand new houses have their issues. If you know the right questions to ask before you even buy a home, you’ll be armed with a knowledge that you wouldn’t otherwise have. There are some very revealing questions that you can ask sellers to help you get some insight into a property. These questions can usually also be answered by your home inspector when you get to the inspection process.  


Have You Had Water Damage Or Pipe Issues?


Water damage is a big deal. It can hide mold and other damage. There’s also a big issue if the pipes in a home have previously burst, or caused water damage on their own. Especially in cold climates, water damage and burst pipes can be common if the piping has not been properly insulated.


The Age Of The Roof


If the roof on a home has been recently replaced, that’s a huge bonus to buying the home. Roofing typically lasts about 25 years until it needs to be replaced. If a roof is getting close to the end of its lifespan, you can ask for a rebate or be wary that repairs will need to be made in the near future. 


Pests


If a home has had any kind of significant pest infestation, then you’ll want to know about it and be sure that it has been resolved. There could be some underlying conditions within the home itself that have made the pest infestation possible. Whether there’s some unaddressed holes, rotting wood, or hidden leaks, they’ll need to be taken care of so that an infestation doesn’t reoccur. 


Paranormal Activity


This may sound strange but some people will run out of their homes as fast as they can if they see a ghost or something else. “Haunted houses” are a particularly difficult sell. This includes homes with:


  • Ghost sightings
  • Murders
  • Suicides
  • Unusual deaths
  • Drug labs


Many states require that these problems and conditions be revealed in a disclosure statement. Other states do not legally require this. Check local laws to find out more about paranormal activity disclosures.

Some other great questions to ask when you’re in the process of buying a home are:


  • Will your car fit in the garage?
  • How much are the utility costs?
  • Who are the utility companies?
  • Does the home have a sewer or a septic tank?
  • Are there any warranties left on items in the home?


Asking these questions not only helps you as you move into a new home, but it helps you to get a better understanding of what types of insurance you need to put on your home. If you need to add a few extra pieces to the policy to protect yourself due to any information that you learn, you’ll feel safer.




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Posted by Afonso Real Estate on 4/11/2018

Entering the housing market may be difficult for a buyer. In many instances, buyers worry about paying too much for a house. On the other hand, the temptation to overspend on a house sometimes can be overwhelming for a homebuyer who is concerned about losing his or her dream residence to a rival buyer.

Fortunately, we're here to help you determine exactly what you can afford to pay for a house, thereby reducing the risk of spending too much on a residence.

Let's take a look at three tips to ensure a buyer can purchase a great house at the right price.

1. Get Pre-Approved for a Mortgage

A mortgage generally is a must-have for a homebuyer. If you get pre-approved for a mortgage, you can start searching for houses that fall within your financial limits.

To learn about your mortgage options, you should meet with a variety of banks and credit unions. These financial institutions employ friendly, knowledgeable mortgage specialists who can teach you about myriad mortgage options.

Also, don't hesitate to ask questions as you search for a mortgage. If you understand all of the mortgage options at your disposal, you can make an informed mortgage decision. Then, you'll be able to start pursuing houses with a budget in hand.

2. Assess the Housing Market

The real estate market frequently fluctuates. As such, you should look closely at housing market data to find out whether you're preparing to search for a house in a buyer's or seller's market.

Oftentimes, it helps to look at the prices of recently sold houses in your area. This will allow you to see how much sellers received for their homes, as well as how long these houses were available before they sold. That way, you can use this housing market data to narrow your price range and establish realistic expectations for your home search.

3. Consult with a Real Estate Agent

A real estate agent is a housing market expert. Therefore, a real estate agent can make it simple for you to pay the right price for your ideal house.

Typically, a real estate agent will want to meet with you before you start your home search. He or she then can learn about you and your homebuying goals and help you craft a homebuying budget. As a result, a real estate agent will allow you to refine your home search, ensuring you can check out high-quality houses at budget-friendly prices.

Let's not forget about the support that a real estate agent delivers throughout the homebuying journey, either. A real estate agent will set up home showings and keep you up to date about new houses that fall within your price range. And if you'd like to submit an offer on a house, a real estate agent will help you put together a competitive proposal as well.

Pay the right price for your dream house – use the aforementioned tips, and you can boost the likelihood of discovering the right home, at the right price.




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Posted by Afonso Real Estate on 3/14/2018

When you think of buying or selling a house, the first thing that comes to mind may not be the legal aspects associated with the process. You may want to reconsider this rather boring part of the process as an important one. Hiring a lawyer can help both buyers and sellers to get through many hurdles that buying a home can present. 


The Contracts


There will be many negotiations and a lot of back and forth throughout the process of buying a home. Everything that’s involved with buying a home needs a contract for it to be legally binding. A real estate attorney will negotiate on your behalf and be sure that the contracts adhere to all state and local laws. The lawyer will also help you to address issues that may affect the future of the property such as botched inspections, liens against the home, and other items that could affect you as the home buyer. 


Title Search


Real estate attorneys will perform what is called a title search. This allows them to see if there are any outstanding liens or judgements against the house. This title search will also make sure that the seller has the right to actually sell the property that’s being sold. An attorney can do all of this much quicker than the average person since they have working relationships with title companies.


Transfer Of Property


If a property is being transferred through a corporation, trust, or partnership, things can get complicated. It’s good to have an attorney who is used to working with these complex situations and understands the legal boundaries within the state or municipality   that the property is in.


If You Choose Not To Have A Real Estate Attorney


Many times, a real estate attorney isn’t required to buy a property. It is advisable to have one, however. Without an attorney you increase your chances of problems arising in the future. You run the risk of:


  • Being sued for failure to disclose information
  • An improper property transaction takes place
  • You could miss relevant facts about the property
  • Failing to file the correct documents at both the state an local levels
  • Deeds are not transferred
  • Building permits weren’t correctly filed


The Takeaway


Having a real estate lawyer on your side is important due to the complex nature of property transactions. While some states require that an attorney be present throughout your property transaction, many states do not have this stipulation. You are smart to hire a competent real estate attorney to protect your own interests as either a buyer or a seller.





Posted by Afonso Real Estate on 3/7/2018

Buying a home should be an unforgettable experience. However, problems sometimes may arise that prevent a homebuyer from enjoying the property buying journey.

Whether it's tough negotiations with a stubborn home seller or a property inspection that reveals many problems with a house, problems may occur that can make the homebuying journey memorable for all the wrong reasons.

Lucky for you, we're here to help you streamline the homebuying process and ensure you can acquire your dream home quickly.

Now, let's take a look at three tips that homebuyers can use to transform an ordinary property buying experience into an unforgettable journey.

1. Perform Plenty of Real Estate Market Research

Navigating the real estate market can be tricky, particularly for first-time homebuyers. Conversely, homebuyers who evaluate the real estate market closely should have no trouble discovering a wide range of terrific residences.

Examine the prices of recently sold homes in your area. That way, you can establish a price range for homes that match your needs.

Also, analyze the amount of time that recently sold properties were available. This will help you differentiate a buyer's market from a seller's one and ensure you can map out your homebuying journey accordingly.

2. Get Pre-Approved for a Mortgage

Buying a home likely will require you to get approved for a mortgage. If you receive pre-approval for a mortgage, you can narrow your home search based on your budget.

To get pre-approved for a mortgage, you should meet with several banks and credit unions. These lenders can explain how a mortgage works and help you find one that suits you perfectly.

In addition, don't hesitate to ask plenty of questions when you meet with lenders. These mortgage professionals can provide expert insights into the different types of mortgages, including fixed- and adjustable-rate options. By doing so, they can help you get pre-approved for a mortgage so you can kick off your search for the perfect home.

3. Work with a Real Estate Agent

When it comes to buying a home, working with a real estate agent is paramount. This real estate professional will do what it takes to eliminate guesswork and streamline the homebuying journey.

A real estate agent understands the challenges that are commonly associated with buying a home and can help you overcome any potential hurdles along the way. He or she also is happy to respond to your homebuying concerns and queries and provide you with the support you deserve at any time.

Furthermore, a real estate agent will keep you up to date about new homes as they become available, set up home showings and negotiate with home sellers on your behalf. This housing market professional will even provide honest, unbiased recommendations to help you make informed decisions throughout the homebuying cycle.

Ready to get the best results from the homebuying journey? Use these tips, and you enjoy an outstanding homebuying experience.




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