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The Process of Buying a House Has Not Changed

Jul 17, 2008
There is a lot of confusion about buying a house these days. It is totally understandable considering everything we hear from the media. The credit situation is different but the process the consumer goes through is the same.

Having a good real estate team on your side is a must. By team, I mean a realtor and a mortgage loan officer. The realtor can help barter with the seller of the home you want to purchase and should be versed in the real estate law of the state he or she has a license in. The loan officer should be able to give you several options to fit your financial situation and see what you qualify to buy.

If these two people have worked together before have a good relationship, it helps. Not because they might be friends but because they communicate with each other. It doesn't hurt to have two people on your side that actually talk to each other!

Make sure you get a pre-approval letter before you go house hunting with your realtor. There are several reasons for this. The first is the disappointment you will experience if you find a great house and then have to pass on it because, according to the lending institution, you can't afford to buy it.

Secondly, there's nothing more nerve wracking to a realtor than to find out they have been driving you all over the place, burning their very expensive gas only to find out that you don't qualify at this time for a loan. This is one of those times you can help out by thinking how the other guy feels.

After you have gone through the pre-approval process with the loan officer, the realtor will now take over and show you the appropriate properties within your approved amount. Once you take the time to get good people to help you through the process it will payoff; even when the press says it should be otherwise.

There will always be people who need to purchase homes and there will always be investors who will fill the gap. However, the process remains the same. This is still a great time to purchase a property if you're currently looking. Good Luck!
About the Author
You can always read the 10 steps to Nashville home ownership anytime you need to remember the information. It's a great idea to find out what others think the hottest neighborhoods in Nashville are as well.
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