Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract. Ask the following:
Has the buyer been prequalified or preapproved (even better) for a mortgage? Such buyers will be in a much better position to obtain a mortgage promptly.
Does the buyer have enough money to make a downpayment and cover closing costs? Ideally, a buyer should have 20 percent of the home’s price as a downpayment and between 2 and 7 percent of the price to cover closing costs.
Is the buyer’s income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total income to cover PITI (principal, interest, taxes, and insurance).
Does your buyer have good credit? Ask if he or she has reviewed and corrected a credit report.
Does the buyer have too much debt? If a buyer owes a great deal on car payments, credit cards, etc., he or she may not qualify for a mortgage.
Source: National Association of REALTORS®
I have worked for Ferguson Realtors for 16 years and they have promoted, supported and help grow my professional career in real estate. Ferguson Realtors is always on the cutting edge of technology with high quality video, photos, websites and creative ideas in advertising to get homes Sold! Their ethics and integrity, that is the Ferguson name, is also unparalleled in the business. Ferguson Realtors has a personable and friendly atmosphere to work in, while being one of the leading Realtors in the industry. Ferguson Realtors is a company that I am proud to say that I hold my license with and plan to continue my career with for years to come.
Are you considering a career in real estate or a company move? If so; check us out at www.topofknox.com.
•Remove the clutter – put small things away
•Brighten areas up with light – open drapes and blinds, add lighting
•Re-purpose rooms – add some new furniture and paint
•Vary wall hangings – try different groupings
•Bring nature inside – add plants and fresh cut flowers
•Group in threes – odd numbers are preferred when grouping accessories
•Give areas a face lift – add new counter tops or cabinet doors if dated
•Add some color – paint with warm tans, honeys and soft blue-greens
•Beware of layout – pay close attention to the traffic flow of each room
•Clean – this is the cheapest and easiest way to improve the look of your home
Are you considering a career in real estate or a firm change?
If so; visit www.TopofKnox.com to learn more.
Woodlake is located on the pristine waters of Norris Lake. There are many recreational opportunities available; a par 72 championship golf course (rated one of the “best new courses” by Golf Digest in 2000), swimming, tennis and all forms of boating. At the end of the day enjoy fine dining at the Country Club. Click on the video to see the Woodlake Community for yourself.
The REALTORS®’ Code of Ethics was established in 1913 by the National Association of REALTORS®. It’s a set of rules that were established to raise the standards of professionalism and service in the real estate industry. The rules are divided into three areas: 1) a broker’s duties to his clients, 2) a broker’s duties to his fellow brokers and 3) a broker’s duties to the public. The current Code of Ethics contains seventeen articles.
Over its one hundred year history, the Code of Ethics has been amended and revised to keep up with the changing times. Local REALTOR® Associations are charged with enforcing the Code of Ethics and handing down punishment to those found to be in violation of one or more of the articles.
To keep REALTORS® up to date on the Code of Ethics, the National Association of REALTORS® requires all REALTORS® to take a training course on the subject every four years.
In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others.
Source: National Association of REALTORS®