David Bruce

November 16th, 2008

First Time Homebuying 101

So, you’re thinking about buying your first home in Richmond, Virginia! Congratulations! It is a very exciting decision and has the potential of being a great financial investment. Richmond has outperformed real estate markets in many other parts of the country and most national averages.

Many people hold off on purchasing because they feel they don’t have an adequate down payment. This is often not the case, and finding a loan with very little money down loan is possible even in today’s 2008 mortgage industry.

Enlisting the help of a qualified Real Estate Agent is the first decision you should make. It is important that you have representation during the home buying process so you can make certain you have someone negotiating for you 100% of the time. You DO NOT PAY your REALTOR for this important representation. The Buyer’s Agent is paid at closing by the sellers.

Many people don’t realize that when they drive by a home and call the agent on the sign, the agent will be more than willing to show them the home and write up a contract – BUT that agent is obligated to represent the needs of the home seller, NOT YOU, the Buyer. If the home buyer disclosed important and confidential information (such as finances) to the selling agent, their negotiating ability may be severely hampered.

Skye Bruce Properties is the Official REALTORS and Buyer’s Agents of RichmondHomeShopper.com and specializes in helping First Time Homebuyers in the Richmond Virginia area.  Skye Bruce (The #1 REMAX Agent in the Richmond area) says she fields important questions from first time homebuyers all the time and here are a few commin ones:

Question: I want to buy a home, but I don’t have much money. How can I find out how much I need?

Answer: Helping people become homeowners is one of the most important things RichmondHomeShopper.com and Skye Bruce Properties does. We have a team of industry support professionals including Mortgage Lenders to help guide you through the home buying process including advising you how much cash you would need at closing.

Question: I’m thinking about buying a home, but I don’t really know if it’s a good idea for me. Who can I talk to?

Answer: Skye Bruce Properties can help you decide whether buying a home is right for you. They have worked with so many first time homebuyers and understand when it makes sense for someone to buy and when it makes sense for someone to rent.  Their consultative services are free!

Question: How do I know if I qualify for a mortgage?

Answer: There are many different kinds of mortgages available, and qualification requirements vary. The best thing for you to do is meet with a Richmond area mortgage lender to find out what kinds of mortgages they have available that could fit your situation. They will be able to direct you to the kinds of mortgage programs that fit your needs. RichmondHomeShopper.com’s team of industry professionals can counsel you on mortgages you qualify for and available homes and hot properties on the market in the Richmond area.

These are just a few of the many questions people have when buying their first home.  Skye Bruce Properties and their team of industry professionals can create a custom Homebuyer Kit for you including mortgage information. Contact Skye Bruce Properties today for more information!

This entry was posted on Sunday, November 16th, 2008 at 3:08 pm and is filed under Buying A Home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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