Buying AV Homes Or Homes Anywhere...
Finally, The Answers That All Buyers Need To Know!
Whether you are buying AV Homes (homes located in the Antelope Valley, California) or elsewhere, the information contained in this website, built and provided to you by Jennifer Ivanov, broker of Storybook Properties is sure to answer all or most questions that appear to have been untold or unexplained to many new and veteran home buyers alike.
It has come to our attention while assisting buyers with their transactions, as most have indicated that much of the sales agreement had never before been explained to them. Most buyers seem to be in the dark, having no clue as to the process or what it all means.
It is our goal to educate all buyers so that they can gain full clear understanding when making a purchase by being as informed as possible.
While it is nearly impossible to explain every line of the purchase agreement or anticipate every question that a buyer may have, we have compiled what we believe the overall most important basics are that all buyers should be aware of.
Okay, now for the good stuff… Buying AV Homes!
First and foremost - Put your financial life on hold and get pre-approved for a home loan!
We know you are anxious to start looking at properties, but do yourself and your real estate agent a huge favor. Do not start looking until you have been pre-approved for your home loan. There is nothing as disappointing as choosing a higher priced home that you fall in love with, only to find out that you will not be able to buy it.
Also, be respectful and courteous to your agent by not putting them "on-the-spot". Your agent really does not want to waste valuable time showing you property after property that you will not even qualify for, but at the same time, may not want to upset you by refusing to show them to you.
Now, "put your financial life on hold"! We really mean it! Once you are pre-approved for your loan, or better yet once you even know that you want to buy a home, don't change anything!
Do not change your job (different line of work), do not buy a car, do not buy anything on credit, do not let your credit become delinquent, do not let anyone run your credit (other than for your home loan pre-approval and only one company as each time your credit is run it will decrease your credit score) and do not move money in or out of your bank account (large amounts that are not typical).
Loans are credit score driven and will dictate what program you qualify for and the interest rate. If your score is too low, you will not qualify at all.
We have worked with buyers in the past that kill their home loan approval by making a purchase like buying a new car and now they have a $400 per month bill that adversely affects their whole deal. Don't do it!
Congratulations, "You Have Your Pre-Approval"!
Good for you! You are starting out on the right foot toward buying AV homes! Now that you are pre-approved, your agent can start working hard to show you homes in your price range that you know you can afford to buy.
But, be aware of this misconception. Not only did "you" need to qualify for the loan, but the "property" needs to qualify, too! So, beware of the fixer-uppers that seem to be a screaming great deal! If the seller won't make repairs that bring the property up to minimum standards that your lender requires, your lender will not make the loan.
Hopefully the listing agent as well as your agent will recognize a harsh fixer from a soft one. For example, a soft one may just need the carpets cleaned, fresh paint and some minor repairs.
A harsh fixer (typical of buying AV Homes, REO's or bank owned properties) may have missing floor coverings, broken windows, plumbing leaks, drywall holes, plumbing and electrical fixtures missing…well, you get the picture! These properties are typically offered for a cash buyer only.
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