Question
Meeting with a Real Estate Agent what questions should I ask?
My husband and I are currently working on our credit in hopes of buying a home in the next year or so. I have been in contact with a Real estate Agent who then put me in contact with a Mortgage company who did a credit check on us and told us that even though we have approx 3 to 4 thousand in debt we have no credit. We were told we need 4 lines of credit to get a loan and we have one. He suggested we get a secured credit card to which I applied for one for each of us through our bank and we were denied. I hadn't heard anything from the Real estate agent in a couple weeks when he called today. He told me he still would like to meet with us and that there may be programs that can help us. So we set up a meeting. My question is "What questions should we ask when meeting with the Realtor?" Is there anything we should know up front? I no absolutely nothing about any of this and I don't want to show up there looking like an idiot who doesn't know what she is doing.
4 weeks ago - 1 answers
Best Answer
Chosen by Asker
It is important that you and your agent develop a good relationship in your search for a home. A good agent can save you thousands of dollars and will know exactly how to be of help in your financing problems. First, ask how the agent plans to go about finding listings for you. Ask the agent to work as a "buyer's agent", so he or she will represent you rather than the seller. Next, ask what price range you can afford. Then, ask about the market in general in your area. Is it a buyer's market? Are most of the listings in your price range short sales or foreclosures? If so, how long would it take for a contract to be approved? Ask your agent if you might qualify for a HUD/FHA loan. Now explain to your agent exactly what you hope to find in your new home. You agent will have lots of questions for you, too. Would you be interested in a "fixer upper"? Does the school district mean anything to you? Do you want a detached home, condo, townhouse? You should come away from the meeting with a clear understanding of your chances for home ownership and what a good time frame is. If you do find a home, be sure to view it and the neighborhood on the weekend and after work during the week. And have a home inspection done, no matter what. It can be vital. In the meantime, work with your bank to establish a better credit record. If you can swing it, start a savings account at the same bank where you have your account. When you have $500 to $1,000 in savings, then ask the bank to issue a secured credit card just for the amount you have in the account. Good luck!
Source(s)
Real Estate professional.
by Cheryl G
4 weeks ago
Asker's Rating: 