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Resource Center
Tips for Selling
• Tips for Buying • Mortgage
Broker links • Mortgage Calc links
TIPS FOR THE
BUYER:
Seek the advice of a competent real estate
agent who will help you find a house that fits your needs, wants
and finances. Real estate purchases can be challenging. Sometimes
it is as if you are learning a new language.
Some words and meanings to get you started with this new language
are:
Appraisal – An expert judgment of the value of the property.
The lender orders as a condition of the loan.
A Real Estate Agent does a CMA – Comparative Market Analysis
when listing property to show seller the range of like properties
that have sold within the past few months. This is not the same
as a lender ordered appraisal.
Earnest Money – Can be termed a showing of good faith at
time of making an offer on a property. A binder. This shows
the seller that purchaser is acting in good faith.
Home Inspection – A report prepared by a qualified inspector,
evaluating the property’s structure and mechanical system.
This is not the same as an appraisal.
PITI – Principal, interest, taxes and insurance (hazard)
for the basis for monthly payments.
Pre-qualification – Informal estimate of how much financing
a potential borrower might expect to obtain, done before paying
substantial loan application fees. This is not to be confused
with a loan appraisal. |
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Tips for
Sellers
Look at your home as if you are a potential
buyer
Your pets are precious to you, but they sometimes have an odor
– dogs and cats alike. We have people with allergies who
are turned off by these furry friends. Just put Fido in the
garage or in the yard.
Another tip is to have your home in best light. Turn on the
lights and make sure the light bulbs are bright enough for the
job. It might also be necessary to wash the light fixtures for
that greater glow.
First impressions can only be a one-time experience. Remember
that your home needs to be showcased not only for your agent,
but by you. It is a partnership. Fix up, clean up and spruce
up.
Price it right and it will sell! |
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Mortgage Broker
links:
American City Bank www.americancitybank.com
US bank www.usbank.com
First National Bank-Manchester www.fnbmanchester.com
Tullahoma www.fntullahoma.com
Peoples Bank & Trust www.bankwithpeoples.com
Regions Bank www.regions.com
Traders Bank www.tradersbank.com
AEDC Federal Credit Union www.aedcfcu.org
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