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Expert Tips for Home Buyers & Sellers

Our mission at The Gresh Group is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Thursday, May 16, 2013

Avoiding Mortgage Loan Roadblocks




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There are some common misconceptions floating around about there not being enough money in the bank when it comes to mortgages.  This could not be further from the truth.  Lenders have plenty of money.  Sure, they are being more careful about who they lend it to and yes they are definitely making sure all i’s are dotted and t’s crossed.  But here’s the thing:  do you want to have to jump through hoops of fire or would you rather sail through the mortgage loan process smoothly?
With our special report that shares with you the real estate industry’s insider information on the top reasons loans go awry, you can avoid having to go back to the drawing board over and over again and ultimately risk losing your loan (and your dream house) in the end. 

Accuracy of Information is Key
As you sign your loan application you will notice that there is a mountain of paperwork.  One of the most damaging things to a loan app however is when there are discrepancies within the paperwork.  As long as you can vouch for your information, provide accurate and updated data and support it with plenty of documentation – your loan application should not suffer any major delays or cancellation.  This applies to basic information such as names and aliases to employment history to past judgments or other negative financial factors that you need to report.

Incomplete forms and less-than-adequate supporting documentation such as W2s or payroll stubs are just one of reasons a loan officer will move on to the next borrower’s paperwork.  It is important not to be offended if you have to provide a lot of details.  When it comes to things like the source of your extra income, where and from whom you received cash gifts or other sensitive information like that, a lot of homebuyers get squeamish.  In fact, borrowers should be prepared to do a lot of “explaining” through what loan officers call Letters of Explanation for things that are not crystal clear or cut and dry.  And there are a lot of things that simply do not add up without an explanation at hand.

Processing Makes Perfect
Anyone that has gone through the process of applying for a mortgage knows that it takes time.  Even if every single aspect of the app were perfect it would still take time.  Some delays can be avoided, all of which can be done by making sure there are no outstanding liens on the home, providing and being able to confirm the source for all funds used in the transaction and ensuring all necessary repairs are done in advance. 

One of the most frustrating aspects of going through a mortgage loan process is when a step adds days and days to the timeline.  With each item that needs further clarification, additional investigation or more, more time is added and more frustration ensues.  The single best way to avoid this problem is to provide as much information as possible from the start. 
(Almost) Everything Can Be Fixed
By working with the right Realty and mortgage team you can turn around most of the issues that come up as roadblocks in the process.  It takes time but it can be done.  To find out more about what may go wrong with your loan, email us and we’ll send you a copy of our free report with the top reasons loans go bad and how you can avoid each.

Wednesday, May 1, 2013

5 Things to Do When Moving Into a New Home

 

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Moving into a new home can be an extremely exciting time in a person’s life.  However, it can also be incredibly hectic.  There are some things that can be placed on the back burner during the move in process.  With these five easy tips on moving into a new home, you can be sure to have your house as safe and cost efficient as possible.
 


Change the Locks
At closing time, the seller of a house turns over the keys to the new owners.  Many times, though, the previous owner will have given a spare key to a friend or neighbor in case of emergency.  Enlist a locksmith to come to the house and change all of the locks and get new keys made.  This final transition from one owner to the next will give the new homeowner peace of mind.  

Reprogram Your Garage Door Remote
Along with changing the locks of your home, reprograming your garage door remote will ensure the safety of your house.  Depending on the brand of remote, steps in reprograming it may differ, but the process is simple for nearly all brands.  Most remotes have a “Learn” button, which you must hold until the indicator light blinks.  While the indicator light blinks, press the button on your remote.  This should reprogram your garage door opener remote.  If this does not work, contact your remote manufacturer or local hardware store for assistance.  

Change Your Home’s Air Filters
Most air filter manufacturers recommend that you change the HVAC air filters once every month. Due to the increased amount of activity of moving furniture in and out of the house, a larger concentration of dust will collect in the ventilation system.   In order to improve the air quality in your home and increase heating and cooling efficiency, make sure you change your air filters right when you move in.

Install New Batteries in Smoke Alarms
When a person is selling their home, there are many different procedures they must do to ensure that it is ready for sale.  Often times, during the stress of the home selling process, the smoke alarms are forgot about.  Ensure the safety of your home and family by changing the batteries in the smoke detectors when you move into a new house.  This cheap and quick home improvement has the potential to save your family’s life. 

Replace Toilet Seat Covers

We probably don't need to go into specific details. but most people insist on swapping toilet seats.