Myths About Credit Scores
What You Should Expect Out Of A Great Listing Agent.
What You Should Expect Out Of A Great Listing Agent.
The top listing agents don’t just post your home for sale online for prospective home buyers to submit bids, they maximize your chances of getting the best price by performing dozens of activities that lead to selling your home. Use this checklist to ensure that your selling agent is doing their job:
- Analysis of pricing trends and local price per square foot
- Automatic posting on all major online home search sites
- Advertising in local publications
- Prepping and staging expertise
- Professional photography
- Creation of marketing documents (flyers, etc.)
- Access and monitoring of your private lock-box
- Direct mail marketing program
- Development of virtual tour (bonus)
- Exclusive previews for other real estate brokers
- Research on buyer motivations and capacity
- 24-hour response turnaround time on client requests
- At least 2 open houses
AFFORDABILITY 101
Affordability 101
If you earn $56,516, the average household income, you can afford $1,695 in total monthly payments, according to the 36% rule. The rule, which measures your debt relative to your income, is used by lenders to evaluate how much you can afford.
Key factors in calculating affordability are 1) your monthly income; 2) available funds to cover your down payment and closing costs; 3) your monthly expenses; 4) your credit profile.
- Income – Money that you receive on a regular basis, such as your salary or income from investments. Your income helps establish a baseline for what you can afford to pay every month.
- Funds available – This is the amount of cash you have available to put down and to cover closing costs. You can use your savings, investments or other sources.
- Debt and expenses – It’s important to take into consideration other monthly obligations you may have, such as credit cards, car payments, student loans, groceries, utilities, insurance, etc.
- Credit profile – Your credit score and the amount of debt you owe influence a lender’s view of you as a borrower. Those factors will help determine how much money you can borrow and what interest rate you’ll be charged. Check your credit score.
We’ll provide you with an appropriate price range based on your situation. Most importantly, we’ll take into account all your monthly obligations to determine if a home is comfortably within reach.
PRO TIP:
It’s also important to plan for the future. Consider creating a savings plan for upcoming life events, such as having a child.
For more information about home affordability, read about the total costs to consider when buying a home.
When banks evaluate your affordability, they only take into account your outstanding debts. They do not take into consideration if you want to set aside $250 every month for your retirement or if you’re expecting a baby and want to set aside additional funds. NerdWallet’s Affordability Calculator helps you easily understand how taking on a mortgage debt will affect your expenses and savings.
Appraisals
Hi LEAD_NAME –
Appraisals play a major role in all real estate transactions. A home appraisal is an evaluation done by a certified appraiser where they calculate the market value of your home based on square footage, features and location.
There are two common sales approaches that are used in the residential market. The most common is the sales Comparison Approach, which is a method where the appraiser estimates property market value by comparing it to similar properties. The second is the cost approach, most commonly used with new properties. In this method, the build costs are taken into consideration and the appraisers estimates what it would cost to replace the property if it were to be destroyed.
What You’ll See on a Residential Appraisal Report:
- Details about the property as well as side-by-side comparisons with three similar properties.
- Information on the type of property
- An evaluation of the overall local real estate market
- Details on any issues the appraiser feels are harmful to the value of the property, such as poor street access
- Notes about any serious flaws, such as a cracked foundation
- An average sales time estimate
If you’re interested in learning more about appraisals or if you have any other questions about the buying or selling process, please don’t hesitate to reach out to me.
Sincerely,
AGENT_NAME
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Real Estate Resources
Hi LEAD_NAME –
Are you thinking about buying or selling a home? Have you been doing your research? Are you overwhelmed yet? The real estate world can be an intimidating place, especially for first-time buyers and sellers.
I_WE can help! On MY_OUR_LC website you will find tons of great resources for both buyers and sellers. I_WE have mortgage and financing information, home value tools, school and community reports and much more!
Please take advantage of these no-cost resources and don’t hesitate to reach out for assistance, I_WE_LC would love to help!
Sincerely,
AGENT_NAME
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AGENT_BUSINESS_ADDRESS AGENT_BUSINESS_CITY, AGENT_BUSINESS_STATE |
Advice on closing Cost
Hi LEAD_NAME –
As you search for a new home, it’s always a good idea to factor in the closing costs so you can properly plan and manage your finances. In general, you can expect to pay 2-5% of the purchase price in closing costs, not including the down payment.
Closing costs can include the following:
- Down Payments
20% of the purchase price depending on your qualifications and loan choice - Earnest Money Deposit
The money put down when a contract is written – it usually goes into an escrow account - Lender Fees
Includes charges for loan processing, underwriting and preparation - Third-party Fees
Includes charges for insurance, title insurance, title search, appraisal fees and other inspections - Government Fees
Includes deed recording and state mortgage taxes - Escrow & Interest Fees
Include homeowner’s insurance, loan interest, real estate taxes, home warranties and prepaid interest - Property Taxes
Capital tax based on the estimated value of the property
Please do not hesitate to contact ME_US_LC when you are ready to take the next step. I_WE look forward to assisting you!
Sincerely,
AGENT_NAME
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Your Real Estate Agent Should Be a Trusted Partner
Hi LEAD_NAME –
Buying a home is usually the largest single transaction you will ever make, so it’s a pretty big deal! Shouldn’t you have someone you trust helping to guide you though the process?
Here are some of the many services you can expect from ME_US_LC as your agent:
- Accessing every home on the market (and some that aren’t yet!)
- Viewing properties that are inaccessible without an agent
- Referring you to qualified professionals (insurance, mortgage, legal, etc.)
- Successfully negotiating the best price and terms
- Representing you through the contract, escrow and closing process
I_WE know that the process of buying a home can be daunting, and I_AM_WE_ARE_LC here to help you through it every step of the way. Please do not hesitate to contact ME_US_LC when you are ready to take the next step or if you have any questions. I_WE_LC look forward to assisting you.
Sincerely,
AGENT_NAME
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AGENT_PHONE AGENT_WEBSITE_LINK AGENT_BRE |
AGENT_BUSINESS_NAMEAGENT_BUSINESS_PHONE
AGENT_BUSINESS_ADDRESS AGENT_BUSINESS_CITY, AGENT_BUSINESS_STATE |
| AGENT_IMAGE | AGENT_IMAGE_BUSINESS |
Do you know what you want for a home?
Hi LEAD_NAME –
One of the first logical steps in the home search process is narrowing down your true wants and needs in a home. Doing this simple exercise early in the process will help save you time and frustration during the search process.
Some major things to consider:
- How many bedrooms/baths?
- What neighborhood or area?
- How close do you need/want to be to schools?
- What is your price range?
- How close to work?
- How much square footage do you need?
You should also consider which features of the home might be required vs. nice to have. Things like:
- Garage
- Yard
- Swimming Pool or hot tub
- Walk-in closets
- Fireplace
I_AM_WE_ARE sure you will find that spending a little time in advance thinking about these things is well worth it. I_WE would love to sit down with you and guide you through the exercise.
How else may I_WE_LC be of service in your home search? I_WE look forward to serving you in any way I_WE_LC can. Please don’t hesitate to contact ME_US_LC.
Sincerely,
AGENT_NAME
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Finding the right agent for your home search is very important.
Hi ! –
Finding the right agent for your home search is very important. A great agent will not only show you properties, but will also make the whole process more successful and painless.
Here are some of the many services you can expect from me, Jaclyn Nelson as your agent:
- Accessing every home on the market (and some that aren’t yet!)
- Viewing properties that are inaccessible without an agent
- Referring you to qualified professionals (insurance, mortgage, legal, etc.)
- Successfully negotiating the best price and terms
- Representing you through the contract, escrow and closing process
