Home Financing Library

An appraisal of real estate is the valuation of the property. The majority of real estate appraisals are requested to validate the property’s purchase price for loan purposes.

The appraiser interprets the market to arrive at a value estimate. As the appraiser compiles data pertinent to a report, consideration must be given to the site and amenities as well as the physical condition of the property.

Considerable research and collection of general and specific data must be accomplished before the appraiser can arrive at a final opinion of value.

There are many reasons to obtain an appraisal. The most common reason is for a real estate or mortgage transaction, but we have compiled a list of other reasons you may need to order an appraisal.

• To Settle an Estate

  Taxing authorities such as the IRS often require appraisals to establish the value of an estate when a death occurs. Most estate appraisals are ordered by attorneys, not by the survivors.

• To Establish the Replacement Cost for Insurance

  Appraisals obtained for establishing the loss risk in case of fire are often limited to providing an estimate of the replacement or reproduction cost of the improvements.

• To Establish Just Compensation for Condemnation

  The appraiser may represent either the landowner or the condemning authority. Usually, the government entity that needs the land for public use orders an appraisal and offers to purchase the land for the value indicated by the appraisal. If the landowner feels that the amount offered by the condemning authority is not enough, then the landowner may also order an appraisal.

• To Contest High Property Taxes

  If property owners feel that their property is assessed too high, then they may order an appraisal from a qualified appraiser to contest the assessment.

Closing costs are the actual expenses that the lender incurs in the origination of a new home loan. Some of the costs are related to your loan application, such as the expense of a credit report. Other fees are related to the house itself, such as the property appraisal. Others are payment to the lender for processing your application, such as the loan origination fee.

Unless the seller offers to pay them for you, these expenses are charged to the buyer. Common closing costs can include an underwriting fee, mortgage insurance premium, appraisal fee, the cost of a credit report, tax service fee and wire transfer fee. Escrow accounts are often required for many loans for homeowners insurance, real estate taxes, and homeowners associations and require cash deposits at closing. After your initial meeting with a lender after you submit an application, you should receive a Loan Estimate that includes all the estimated costs to close your loan.

A point, which equals 1% of the total loan amount, is an upfront fee that reduces your monthly interest rate and total interest due over the life of a loan. This means that a one point loan will always have a lower interest rate than a no point loan. Paying points is in essence a trade-off between paying money now versus paying money later.

Deciding whether to pay points depends on how long you are looking to keep the loan. You may pay points up front if you plan on keeping the loan for at least four years to ensure that you recoup the costs through lower monthly payments. If you think that you might move within the next four years or might want to refinance because the market rate is declining, then you probably would be better off with a no point loan.

When comparing rates from different lenders, make sure you compare the associated points and rate combinations of the offered program. The published Annual Percentage Rate (APR) is a tool used to compare different terms, offered rates, and points among different lenders and programs.

Your credit report provides information to current and prospective creditors to help you make purchases, secure loans, and manage your personal finances. Credit grantors send updates to each of the credit reporting agencies, usually once a month. These updates include information about how individuals use and pay their accounts.

The Fair Credit Reporting Act requires each of the nationwide credit reporting companies—Equifax, Experian, and TransUnion—to provide you with a free copy of your credit report, at your request, once every 12 months. A credit report includes information on where you live, how you pay your bills, and whether you've been sued or have filed for bankruptcy.

The three nationwide credit reporting companies above have set up a central website for you to request your free credit report. You can order your free annual report by visiting the website, calling the toll‐free telephone number, or by mail through the mailing address below.

Visit annualcreditreport.com

Call 877.322.8228

Complete the Annual Credit Report Request Form and mail it to:
Annual Credit Report Request Service P.O. Box 105281 Atlanta, GA 30348‐5281

Credit scoring is a statistical method that lenders use to quickly and objectively assess the credit risk of a loan applicant. The score is a number that rates the likelihood you will pay back a loan. Scores range from 350 (high risk) to 850 (low risk). There are a few types of credit scores; the most widely used are FICO scores, which were developed by Fair Isaac & Company, Inc. for each of the credit reporting agencies.

Credit scores only consider the information contained in your credit profile. They do not consider your income, savings, down payment amount, or demographic factors like gender, race, nationality, or marital status.

Many different mathematical formulas are used to calculate credit scores and most are based on the following factors, although each scoring model may weight these factors differently:

• Payment History

  This, along with public records, generally accounts for approximately 35% of your score. A record of late payments on your current and past credit accounts will typically lower your score. Being consistent about paying on time can, over time, have a positive impact on your score.

• Public Records

  Matters of public record such as bankruptcies, judgments, and collection items may lower your score. Be aware of these, even if you can't always avoid them.

• Length of Credit History

  In general, a longer credit history is better and can sometimes have a positive impact on your score. Credit history typically accounts for around 15% of your score.

• New Credit Accounts

  Opening multiple new accounts in a short period of time may negatively impact your score.

• Inquiries

  An inquiry is recorded on your credit report whenever someone requests your credit report such as a lender, landlord or insurer. A large number of recent inquiries may negatively impact your score. Your new credit accounts and inquiries generally make up about 10% of your score.

• Accounts in Use

  The number of open accounts usually makes up approximately 10% of your score. One of the most important factor for a good credit score is paying your bills on time. Even if the debt you owe is a small amount, it is important that you make payments on time. In addition, you may want to keep balances low on credit cards and other "revolving credit;" apply for and open new credit accounts only as needed; and pay off debt rather than moving it around. Every score is accompanied by a maximum of four reason codes. Reason codes should be reviewed by you to ensure they are accurate.

Your credit report must contain at least one account which has been open for six months or greater, and at least one account that has been updated in the past six months for you to get a credit score. This ensures that there is enough information in your report to generate an accurate score.

Your credit profile details your credit history as it has been reported to the credit reporting agencies by lenders who have extended credit to you. Your credit profile lists what types of credit you use, the length of time your accounts have been open, and whether you've paid your bills on time. It tells lenders how much credit you've used and whether you're seeking new sources of credit.

There are usually five categories of information on a credit profile:

• Identifying Information
• Employment Information
• Credit Information
• Public Record Information
• Inquiries

There are many items that are NOT included on your credit profile, including:

• Your Race
• Your Religion 
• Your Health 
• Your Driving Record 
• Your Criminal Record
• Your Political Preference
• Your Income

Credit reporting agencies collect information about you and your credit history from public records, your creditors, and other reliable sources. These agencies make your credit history available to your current and prospective creditors and employers as allowed by law. Credit agencies do not grant or deny credit.

The main nationwide credit reporting agencies are:

Equifax

PO Box 105873
Atlanta, GA 30348
800-685-1111

Experian

PO Box 2002
Allen, TX 75013
888-EXPERIAN (888-397-3742)

TransUnion

PO Box 2000
Chester, PA 19022
(800) 888-4213

Lenders may look at other information besides your credit score and credit profile before deciding whether to approve your mortgage. They may also consider:

• Income stability
• Employment history
• Monthly debts in relation to your income
• Savings amount and methods
• Mortgage type
• Property type and value
• Down payment amount
• Timeliness of rent and utilities payments

The Fair Credit Reporting Act outlines specifically who can see your credit profile. Businesses must have a "legitimate business need," or a "permissible purpose," to obtain your credit file. Otherwise, only you, and only those who you give written permission, can access your credit files. Your neighbors, friends, co-workers, and even your family members cannot have access to your credit profile unless you authorize it.

Some examples of those who can access your credit files with permission are: 

• Credit Grantors
• Collection Agencies
• Insurance Companies
• Employers

Any company that receives a copy of your credit profile will be listed under the "Inquiry" section of your report. An "inquiry" is a listing of the name of a credit grantor or authorized user who has accessed your credit file. Credit grantors post an inquiry before offering you a pre-approved credit card application.

These are listed as "promotional" inquiries on your credit file because only your name and address were accessed, not your credit history information. They are not sent to credit grantors or businesses for reasons of credit reporting. They are listed for your informational purposes only.

You have the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information in your credit file.

When a credit reporting agency receives a dispute, it must reinvestigate and record the current status of the disputed items within a "reasonable period of time," unless it believes the dispute is "frivolous or irrelevant." If the credit reporting agency cannot verify a disputed item, it must delete it. If your report contains inaccurate information, the credit reporting agency must correct it. If an item is incomplete, the credit reporting agency must complete it.

For items in your credit profile which you feel deserve further explanation (such as an account that was paid late due to the loss of job, military call up, or unexpected medical bills), you can send a brief statement to the appropriate credit reporting agency. The information alert will be placed in your credit profile and will be disclosed each time it is accessed.

In order to establish good credit, you need a good credit history. If you have no credit history at all, it is easy to start creating one.

Opening a bank account is the simplest and safest way to manage your finances. By opening a savings account or a checking account, you can build good credit by saving money and earning interest, easily paying bills and tracking expenses. Responsible use of a checking account will reflect favorably in your credit report.

If you have services in your name (telephone, gas, and electric), make sure you pay them in full and on time. Pay any loans and credit accounts on time each month. At least pay the minimum, if there is one. Applying for a credit card and using it responsibly can also help you build a good credit history.

Many of us know the fear and frustration of having our wallet or credit cards stolen, but even worse is having your identity stolen. According to one non-profit debt counseling agency, thousands of consumers each year are victims of this crime, which is a serious type of fraud.

With identity theft, someone will use personal information about you such as your name, address, social security number, or driver's license to apply for credit, utilities, bank accounts, mortgages, and even jobs in your name. Some people don't find out that their identity has been stolen until months after it has happened.

Here are some tips to help you avoid becoming a victim of identity theft:

• Deciding when to check your credit report depends on your comfort level. For some, checking annually is sufficient. However, many prefer checking their credit reports more often. Investigate if you find accounts that are not yours.
• Rip-up, or better yet, shred, any credit card applications, bank or billing statements, and any other sensitive documents.
• If you don't get a bill for one of your credit cards in any given month, call the issuer immediately.
• Use a locked mailbox for incoming and outgoing mail. Avoid giving out your social security number unless it's necessary. Save your ATM and credit card receipts, check them against your statements and then shred them.

Mortgage insurance allows a potential buyer to obtain a mortgage without having to provide a 20% down payment. Lenders may require insurance on loans with a down payment less than 20% of the home’s value in the event that the homeowner isn’t able to repay the loan.

Mortgage insurance also provides home buyers with flexible payment options, since a large down payment is not always necessary. Although the cost of the mortgage insurance is often paid by the home buyer, or borrower, the mortgage insurer works directly with the lender.

There are some loan products in which mortgage insurance is paid directly by the lender as well. Mortgage insurance is not the same as credit life insurance, also called mortgage life insurance. This type of policy repays an outstanding mortgage balance upon the death of the person who took out the insurance policy.

There are local, state and national non-profit organizations dedicated to assisting homebuyers with their down payment and closing costs. Buyers can receive a free gift under these programs. Gift amounts vary with each program and buyers typically do not have to repay these gifts.

It's easy to learn more about grant programs and the qualification guidelines for each program. Each program requires that buyers must qualify for any eligible loan program with their lender.

Other requirements may include, that the buyer complete a Home Ownership Counseling Course or provide a percentage of their own funds for the transaction. In addition, some programs have income/asset guidelines, reserves requirements, or geographic limitations.

Contact your loan officer to get additional information about down payment grants.

Many local and state agencies offer funds to help individuals and families with a down payment. Learn about housing agencies and grant resources available in your area. Our loan officers can assist you with these resources.

Insure your home for at Least 100% of the estimated replacement cost value. Your home may be one of the largest investments you ever make. Understanding market value versus replacement cost is an important consideration in determining how much coverage you need. It is important to have enough coverage to account for the unforeseen and be able to replace your home. Also, be sure to increase the limit of your policy if you make improvements or additions to your house.

Your lender may have specific homeowners insurance requirements as part of the origination and servicing process. You'll want to check to be sure those are also met.

Private mortgage insurance is a type of insurance that may be necessary for mortgages where the down payment is less than 20% of the property value. PMI also allows a home buyer to put down a lower down payment than would otherwise be possible. PMI is an insurance policy that reduces the risk a lender takes in the event that a homeowner does not repay their mortgage.

Mortgage insurance can usually be canceled by the home buyer after they have at least 20% equity in the home. You should contact your lender to find out the procedure for canceling mortgage insurance if you have 20% equity. If cancellation is not requested, PMI will automatically stop once 22% equity is reached and various other requirements have been met.

Guidelines for canceling private mortgage insurance are set by regulations.

A policy of title insurance is a contract of indemnity between the insured and the insuring company relating to the title to the land described in the policy, protecting the insured against loss of damage by reason of defects, liens or encumbrances of the insured title existing at the date of the policy and not expressly excepted from its coverage.

The policy is issued after a complete search and examination of the public records and shows the condition of the record title, including any money obligations outstanding against the property, easements and other matters which may affect the rights of ownership, possession and use of the property.

Title insurance protects the "record" title, insuring it is good subject only to the exceptions expressly set out in the policy. lt also insures against certain matters which do not appear of record, such as forgery, identity of parties, incompetence of former owners, interest of missing heirs, and status of individuals not having the "right" to sell property.

There are different types of policies. Owners policies are issued to real estate owners. Lender policies are issued to mortgage lenders. In addition there are several other special forms of policies. There is a type of policy to meet the requirements of almost any form of real estate transaction.

Title Insurance insures that the "record" title is good subject only to the exceptions expressly set out in the policy. It also insures against certain matters which do not appear of record, such as forgery, identity of parties, incompetence of former owners, interest of missing heirs, and status of individuals not having the "right" to sell property.

The standard owners policy and standard mortgage policy are based on public records of the recording district in which the land is located. It does not insure against matters which would only be disclosed by actual inspection or survey of the property. It does not insure against certain matters not shown by the public records such as unrecorded easements, liens or money obligations; unrecorded utility rights of way, public or private roads, community driveways and other types of encumbrances, or against the rights or claims of persons in possession of the property which are not shown by the public records.

Upon application, the issuing company may specially cover matters which are disclosed by a physical inspection and/or a survey of the property, subject to any exceptions which the inspection will determine to be proper. An additional risk premium is charged for this type of coverage. Insurance of this kind is called extended coverage.

An owner's policy protects only the owner while a mortgage policy protects only the holder of the mortgage on the property. Separate policies are required to protect both interests. Special rates are available when both owners and mortgage policies are applied at the same time.

The owner's policy of title insurance usually is issued after the deed to the buyer is delivered and recorded.

A purchasers policy is usually issued after the contract has been executed by both parties or after the signed contract has been recorded. The mortgage policy of title insurance is usually issued after the mortgage or deed of trust has been properly executed and recorded. The coverage of your policy is against all matters that appeared of record up to the date of issuance of your policy. Since that time many documents may have been recorded, some of which may affect the title to your land. Taxes and assessments may have accrued and be unpaid. There may have been actions in court affecting your title. The purchaser is entitled to have full information and protection as to the condition of the title right up to the date of his purchase. In addition, there may be matters of record which would prevent either the seller or buyer from selling, buying or mortgaging land until such matters have been cleared. These items include such things as federal tax liens, judgments, incompetence, divorce actions and other conditions which the title search may disclose.

What Protection Does Title Insurance Give?

It insures that the "record" title, is good subject only to the exceptions expressly set out in the Policy. It also insures against certain matters which do not appear of record, such as forgery, identity of parties, incompetence of former owners, interest of missing heirs, and status of individuals not having the "right" to sell property.

What Risks Are Not Covered?

The standard owners policy and standard mortgage policy are based on public records of the recording district in which the land is located. It does not insure against matters which would only be disclosed by actual inspection or survey of the property. It does not insure against certain matters not shown by the public records such as unrecorded easements, liens or money obligations; unrecorded utility rights of way, public or private roads, community driveways and other types of encumbrances, or against the rights or claims of persons in possession of the property which are not shown by the public records.

Can Protection Be Obtained Against Matters Not of Record?

Upon application, the issuing company may specially cover matters which are disclosed by a physical inspection and/or a survey of the property, subject to any exceptions which the inspection will determine to be proper. An additional risk premium is charged for this type of coverage. Insurance of this kind is called extended coverage.

Are There Different Kinds of Policies?

Yes. Owners Policies are issued to real estate owners. Purchasers Policies are issued to purchasers of real estate under contract. Mortgage Policies are issued to mortgage lenders. In addition there are several other special forms of policies. There is a type of policy to meet the requirements of almost any form of real estate transaction.

When Is the Policy Issued?

An owner's policy protects only the owner while a Mortgage policy protects only the holder of the mortgage on the property. Separate policies are required to protect both interests. Special rates are available when both Owner's and Mortgage policies are applied at the same time.

The Owners Policy of title insurance usually is issued after the deed to the buyer is 'delivered' and recorded. A Purchasers Policy is usually issued after the contract has been executed by both parties or after the signed contract has been recorded. The mortgage policy of title insurance is usually issued after the mortgage or deed of trust has been properly executed and recorded.

If I Was Insured When I Bought the Land, Why Should I Have It Re-Issued to My Purchaser When I Sell?

The coverage of your policy is against all matters that appeared of record up to the date of issuance of your policy. Since that time many documents may have been recorded, some of which may affect the title to your land. Taxes and assessments may have accrued and be unpaid. There may have been actions in court affecting your title.

The purchaser is entitled to have full information and protection as to the condition of the title right up to the date of his purchase. In addition, there may be matters of record which would prevent either the seller or buyer from selling, buying, or mortgaging land until such matters have been cleared. These items include such things as federal tax liens, judgments, incompetence, divorce actions and other conditions which the title search may disclose.

How Are Premiums for Title Insurance Determined?

Title Insurance Premiums are determined by the amount and type of coverage provided. Unlike other insurance premiums, however, the title insurance premium is paid only once as the policy is effective for so long as title or "ownership" remains in the name of the insured-in, or his heirs or devises. Rates are filed with the insurance commissioner who regulates the activities of title insurers.

Flooding is not covered by a standard homeowners insurance policy.

To determine if you need flood insurance, ask your lender about the flood history in your area. If there is a potential for flooding, you must purchase a policy that covers the value of the structure and your personal belongings.

Flood insurance can be purchased from an insurance agent or company under contract with the Federal Insurance Administration, part of the Federal Emergency Management Agency or from a private insurance company.

The amount of your loan can increase your interest rate if the amount financed exceeds the conforming loan limits established by investors. The conforming loan limit may be revised at the beginning of each year.

Shorter loans, such as 20 year or 15 year notes, can save you thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower interest rate than a fixed rate mortgage, but your payments could get higher when the introductory interest rate expires.

A larger down payment, greater than 20%, will give you the best possible rate. Down payments of 5% or less will most likely have a higher rate as you are starting with less equity as collateral. If you've got the cash now and want to lower your payments, you can pay on your loan to lower your mortgage rate. Credit quality and debt-to-income-ratio also affect the terms of your loan through your credit score.

A tool used to compare loans across different loan programs is the Annual Percentage Rate (APR). Federal law requires mortgage lenders to disclose the APR on loan documents and when they advertise a rate. It is designed to represent the true cost of the loan to the borrower, expressed in the form of a yearly rate.

The APR won't tell you anything about balloon payments or how long your rate is locked for. You can use APRs as a guideline to shop for loans, but you should not depend solely on the APR in choosing which loan is best for your needs.

A lock, also called a rate lock or rate commitment, is a lender's promise to hold a certain interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is processed. You may be able to lock in the interest rate and number of points that you will be charged when you file your application, during processing of the loan, when the loan is approved, or later in the application process.

In certain markets, Interest Rate Buydowns may be available. In general payments are reduced and figured on a lower interest rate over a specific term. The difference between the “real” note rate and the lowered interest rate is paid in cash by the seller or the buyer.

There isn't a single or simple answer to this question. The right type of mortgage for you depends on many different factors:

• Your current financial picture 
• How you expect your finances to change
• How long you intend to keep your house
• How comfortable you are with your mortgage payment changing

For example, a 15-year fixed rate mortgage can save you many thousands of dollars in interest payments over the life of the loan, but your monthly payments will be higher. An adjustable rate mortgage may get you started with a lower monthly payment than a fixed rate mortgage, but your payments could get higher when the interest rate changes.

The best way to find the "right" answer is to discuss your finances, your plans and financial prospects, and your preferences with a mortgage lender.

Conventional loans are secured by government sponsored entities such as Fannie Mae and Freddie Mac. Conventional loans can be made to purchase or refinance homes, single family to four family homes. The Conforming Loan Limits are published annually by the Federal Housing Finance Agency. Here are a few websites to find additional information on conforming loan limits:

• http://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
• https://www.fanniemae.com/singlefamily/loan-limits

Jumbo loans are higher than the limits set by FHFA. They usually have a higher interest rate and some additional underwriting requirements. In addition to common loan structures such as fixed rate and adjustable rate, there are other affordable loan programs to choose from. Consult your lender to consider the best options for you.

The most common type of mortgage program where your monthly payments for interest and principal never change. Property taxes and homeowners insurance may increase, but generally your monthly payments will be very stable.

Fixed rate mortgages may be available for 30 years, 20 years, 15 years and even 10 years. Fixed rate fully amortizing loans have two distinct features. First, the interest rate remains fixed for the life of the loan. Secondly, the payments remain level for the life of the loan and are structured to repay the loan at the end of the loan term. The most common fixed rate loans are 15 year and 30 year mortgages.

Adjustable rate mortgages have monthly principal and interest payments that change after a set period of time, based on an external financial index. ARMs can offer a variety of features, such as lower rates, caps on interest, and conversion options. If you plan on relocating or trading up in a few years, you may want to take advantage of an adjustable rate mortgage.

With an ARM, the interest rate changes at specified intervals (for example, every six months) depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also.

Index

The index of an ARM is the financial instrument that the loan is "tied" to, or adjusted to. The most common indices are the 1-Year Treasury Security, 30 Day Average Secured Overnight Financing Rate (SOFR), Prime, 6-Month Certificate of Deposit (CD) and the 11th District Cost of Funds (COFI). Each of these indices move up or down based on conditions of the financial markets.

Margin

The margin is one of the most important aspects of ARMs because it is added to the Index. This will determine the interest rate you will pay. When the margin is added to the index, it is called the “fully indexed rate”. Margins on loans may range from 1.75% to 3.50%, for example.

Interim Caps

All adjustable rate loans carry interim caps. Many ARMs have interest rate caps of six months or a year. Interest rate caps are beneficial in rising interest rate markets, but can also keep your interest rate higher than the fully indexed rate if rates are falling rapidly.

Lifetime Caps

Typically ARMs have a maximum interest rate or lifetime interest rate cap. The lifetime cap varies from company to company and loan to loan. Loans with low lifetime caps usually have higher margins, and the reverse is also true. Those loans that carry low margins often have higher lifetime caps. Contact a loan officer to determine if an ARM is the best option for you.

Construction loans typically start as an adjustable rate mortgage (ARM). Usually interest only loan payments are made during the construction period. A title company will act as the disbursing agent to pay your builder through a construction escrow account. They work directly with us and your builder to ensure proper inspections, timely payments and a clear title is maintained. Your builder will make several draws from the construction escrow account during the building process. A draw is a portion of the total cost owed to the builder at certain stages of the construction.

A One-Time Close Construction Loan may help you save time and money. You’ll enjoy the convenience of one loan, one application and one closing date. As construction nears completion, you may have the option of requesting to convert your ARM loan to fixed rate financing, based on certain qualifications.

Job transfer? Joining your spouse-to-be? Returning to your family and hometown? You have plenty of company. U.S. Census data shows that among the more than 35 million Americans who move each year, these are some of the top reasons for relocating. In 2017, the Current Population Survey showed that 11 percent of U.S. residents moved, with 46 percent of those citing either family or employment as the motivation. Once you’ve decided to move, finding a home likely is your top priority. And if you are among the 34 percent of mobile Americans who relocate to a different county, including those moving out of state, your home search will require you to start fresh, with everything from neighborhoods, to schools, and financial services.

A local lender is an ideal partner – beyond helping you with a mortgage – as you take those critical first steps in your relocation and home search. They should have broad expertise and strong relationships throughout your new community, and can help you choose a Realtor, identify desirable locations, school districts, entertainment areas and services you might need.

Finding a knowledgeable lender and establishing a trusted relationship will be key to a worry free relocation. Seeking a loan online might seem simple and efficient, but consider using a local mortgage loan officer who can help streamline the process and provide options to best fit your personal situation.

To begin your search for the right person to represent you in a home sale, ask a colleague or friend for a recommendation, preferably someone who has used the real estate agent's services.

You want an agent who is familiar with home sales in your price range and in your neighborhood. It is essential that you feel comfortable with the agent during an interview since comfort level and good communication are very important. Make sure to ask about their commission fees as well. Remember, the agent you choose is going to be one of your main sources of information. A good agent will advise you and guide you in many ways.

Look for a representative who is pursuing sales, returning telephone calls, aggressively working in your best interest and whose only job is real estate.

The Relocation Checklist identifies things to consider before buying a home as well as some helpful tips to prepare for your big move.

Learn more