Resources
You can find F.A.Q.s, terms, and other pertinent information to your property search…
F.A.Q.s
- Can I submit more than one offer at time on a property?
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- Yes, only because you have not put any earnest money down.
- What happens after I put the earnest money down?
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- The next step in the process is to get a home inspection which is optional, you go through the attorney review process.
- How long does the home buying process take?
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- It can generally take between 30-60 days.
- How much money must I have saved up?
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- This can vary, however keep in mind that you should have at least your down payment and closing cost saved.
- Can I get a first-time home buyer credit?
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- It varies on several factors.
- Do I have to sell my current property before I purchase another?
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- No.
- Should I do a final walk through?
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- I recommend doing a final walk through. However, it all depends on the property.
- When is it a good time to buy?
- That is solely on the preference of the buyer.
Real Estate Terms to Know
FHA– Federal Housing Administration
VA– Veterans Affairs
Con – Conventional
ACTV– Active Property currently waiting to be purchased
Contingent– Under contract
Pending – Contract Pending
FIN– Finance process
Temp– Temporary no shows
A/I– Attorney Inspection
CANC– Cancel
CLSD– Closed
PCHG– Price Change
BOMK– Back on Market
AUCT– Auction
RACT– Re Active
RNTD– Rented
EXP– Expired
SS– Short Sale
Tips
Do’s
1. Do a credit check
2. Do get pre-approved
3. Do continue to pay all bills and debit on time
Dont’s
1. Don’t create extra debit while under contract
2. Don’t change your job while under contract
3. Don’t make a major purchase while under contract
Home Buying Process
1. Credit Score at least 620
2. Working 2 years
3. Low debit to ratio
4. Money saved
5. Hire Donna Avant
6. Get pre-approved
7. Find a property
8. Close on your property (Hold the Purple Key)