Knowing What to Ask Your Agent

real estate agentWhen it comes to buying a new home, you will probably have a lot of questions. Knowing what to ask your agent will help you make the right decisions, but it can be hard to determine just what the right questions are. As Dean Graziosi points out, this process can be a bit confusing. The good news is it doesn’t have to be.

 

Begin by asking your realtor whether he or she is a member of the National Association of Realtors. An agent who is a member will know the ins and outs of real estate, will be able to answer a good number of your questions, and will be very familiar with the industry.

 

Find out how long the agent you have chosen has been in business. Ideally, you want someone who has helped buy and sell many houses for others. An agent with a lot of experience will be able to provide you with better service.

 

Ask your real estate agent for references. If possible, speak to others who have used the services of this agent in the past. Find out how their experiences were and whether or not they would choose this same agent again. Dean Graziosi’s article lists this as an important step in the process of choosing a realtor.

 

Find out what the marketing plan of the agent you have chosen will include. You need to know how he or she will go about advertising your home and what will or won’t be expected of you. You’ll find that most real estate agents have a marketing plan they routinely use because it works for them. If you are purchasing a home, find out how others will be able to search for your home.

 

Request that you have the opportunity to view all documents you will be required to sign ahead of time. It is very important that you clearly understand what it is you will be signing, so viewing these documents is crucial. If an agent refuses to allow this, choose another.

 

Find out what the agent you have chosen charges. You need to know what you will be paying for and how much it will cost.

 

Get to know your realtor in the process. When talking to an agent, have an actual conversation and interview of sorts. This is the best way to get the answers you are seeking. While this may sound obvious, sometimes it’s too easy to simply ask questions and accept the answers you receive at face value. Though this may work as long as you understand what you are told, sometimes you may need to ask additional questions. As an article posted on Fox Business points out, most of the time people aren’t going through the interview process. Asking the right questions is essential. Remember, you are investing a lot of money into your new home, so you need answers before beginning. You can learn more about this and other relevant real estate topics by visiting Dean Graziosi’s website.

The Most Common HARP Refinancing Questions

mortgageHARP, also known as the Home Affordable Refinance Program was created by the government to help many homeowners lower their monthly mortgage payments and stay in their homes.  If you are a homeowner who is currently underwater on their mortgage, HARP may be able to help you too, even if you currently owe more on your existing loan than your home is currently worth.  Since it was first created in 2009, the program experienced many changes which have allowed it to help more homeowners refinance their existing mortgage.

While HARP has proven to be beneficial for homeowners, many still have questions about the program itself and what it is designed to do.  To help you understand the program and what it consists of, Mr. Graziosi has put together a list of the most commonly asked questions regarding HARP.

  • Can I Refinance Through HARP If I Have An Adjustable-Rate Mortgage – The answer to this question is yes.  In fact, refinancing through HARP can help you obtain a more stable fixed-rate mortgage.  If you’re a homeowner who is approaching a payment reset, refinancing through HARP now will lock you into a low fixed-rate before they go any higher.
  • Have Recent Changes To HARP Made It Easier To Be Eligible Now – Recently the program experienced significant changes, but the major improvement to the program was that the limit on the amount that they could be underwater was removed.  Because of this recent change, more homeowners may be eligible to seek refinancing through the program than before.
  • Is HARP My Only Option – HARP is currently one of many different refinancing options available for homeowners.  What makes HARP unique is that it is the only program available that allows borrowers who have little to no equity in their home to take advantage of the lower interest rates we are currently seeing.
  • During A HARP Refinance Can I Remove Or Add Someone On The Loan – This is a common question among those who are interested in refinancing through HARP.  The answer is yes, during the refinancing process changes can be made and borrowers can either add or remove someone as long as one of the original borrowers remains on the loan.
  • How Do I Determine Whether Freddie Mac or Fannie Mae Owns My Loan – This is a relatively easy step for homeowners interested in refinancing their mortgage.  The first thing you should do is visit the following websites to determine if your loan is owned by one of the lenders mentioned above.  http://freddiemac.com/mymortgage  http://knowyouroptions.com/loanlookup
  • Will I Have To Make A Down Payment If I’m Currently Underwater – The answer to this question is no.  There is no down payment required when you refinance through HARP, many lenders will often allow you to include your closing costs in the new loan to avoid any out-of-pocket expenses.