Selling Your Own Home – Are the High Priced Commissions Really Worth Having a Realtor?

It really does not matter whether you are selling a house or trying to buy a house, the real estate agent will say that they are working for the seller. On the other hand, if they are trying to find a home for the buyer, then they will say they work for the buyer. No matter what works for them is what they will do. Keep reading if your interested in selling your own home.

In reality, the real estate agent works for themselves alone. They want to get their business built up and earn a good reputation. They need to get their name out there as much as they can, so they try to sell as many and list as many houses that they can get their hands on.

For Sale By Owner (FSBO) signs are vastly different from a real estate agent sign. The FSBO lists the listing ID and a phone number, or maybe even a website. This type of FSBO services keeps the focus on selling your home, which is exactly what you want to do. They will deal with the owner directly and not have to go through a real estate agent. All the real estate agent is concerned with is selling the homes with the larger commissions. If your home is not one of these, then you real estate agent will not try very hard.

If you will look at a sign from a real estate agent, you will notice their picture on the sign, their logo, and their business name. The agent really is not focused on the seller, they are more interested in building up their name and getting their business and picture out there for everyone to see.

The seller is going to have to pay a lot of money to get a big name agent. Many times the agent is so busy you will not even get to meet them face to face. They will most likely send out someone who works for them to get the job done. You really need to do your research and find out if it is worth it to you to hire a real estate agent so they can build up their name and business, or if you would rather sell your own home and save giving the commission away.

Immobilienmakler Heidelberg

Makler Heidelberg

What’s the Difference Between a Real Estate Agent and a Real Estate Broker?

Back To School

The main difference between an agent and a broker is that the broker must complete more coursework. Both hold licenses and are allowed to sell houses. Because brokers spend a little longer studying, they can do some things that agents can’t do. For example, they can manage a brokerage.

If you work for a real estate company, you can be an agent and sell houses. However, if you’re independent, you must be a broker. In layman’s terms, brokers have more power and more responsibility than agents. They complete more schooling and therefore have more knowledge of the industry. Typically, agents work under brokers.

Don’t Knock Your Agent

Now, it’s starting to sound like agents are just brokers‘ henchmen, cleaning around the office, making coffee, occasionally smiling at customers as they walk in. While it’s true that agents are basically the salespeople of a brokerage, this doesn’t mean that they’re generic hired help. Agents are capable of doing for you much of the same things brokers do.

In an actual real estate brokerage, they do largely the same work. Agents may be buying properties to list, acting as intermediary between buyer and seller, securing financing from lending institutions, searching titles and more. They’ll also have complete knowledge of neighborhoods, prices, tax and zoning laws, and buyers‘ needs. In fact, they may be the only one you see from the beginning to the end of the entire process.

Brokers are not wizards with the magic powers to make a house yours. With all of their extra knowledge and schooling, what they can do is own a real estate company. Their extra training is in how to run this business, manage employees, and basically run the show.

A Few Words Of Warning

As if it weren’t confusing enough, many people use the two terms interchangeably. Even real estate professionals will sometimes mix them up. It benefits you to understand this bit of knowledge, so that you can understand what’s going on during your house buying adventure.

Another word of warning – in Canada, the two terms ARE interchangeable. Both broker and agent are referred to as „agents.“

Finding Good Real Estate Agents And Brokers

All agents and brokers must be qualified and licensed. This guarantees that they’ve been through the training they need and that they follow a strict code of ethics.

The best way to find a good one is through referrals. Happy customers will always tell you about the company that helped them get their dream house. You can also do an Internet search. There is a plethora of websites that’ll help you find a good local agency. Another way is to attend open houses. They’ll always have a sign and plenty of information about other listings as well. You can always drive around and scope out signs, too.

Now that you’re armed with this knowledge, you’re ready to search. Happy house hunting!

Immobilienmakler Heidelberg

Makler Heidelberg

Find A Dairy Farm For Sale in New Zealand

Live in the city or a busy township in New Zealand and feel a bit smothered and in need of lifestyle change? If you think you fit into this category then you might like to consider moving into the country.

Many people grow up in areas surrounded by houses and people. After a while this form of lifestyle tends to grow on you and the thought of a complete change in scenery often never enters the mind. However for a number of people, there is a common curiosity about whether the grass is actually greener on the other side.

Do animals interest you? Are you looking at bringing up a family? Craving for some more space, less noise and cleaner air? If so, then investigating the farming sector may be a logical decision.

In New Zealand in particular, farms certainly are worlds away from the hustle and bustle of cities and the relatively highly populated townships. Dairy farms in New Zealand are hot property, especially in areas such as the Waikato, Wairarapa and the West Coast. If you are keen on living a settled life and are fond of milking cows, then a dairy farm could be the option for you.

Finding a dairy farm for sale in New Zealand is not as easy as it used to be, but as people get older and have made their mark in the industry, more and more dairy farms are becoming available.

For many people, leaving behind the convenient amenities can be a hard pill to swallow. However, it’s not all doom and gloom, especially in the Waikato, which is a short distance from many self-catering townships, as well as the bright lights of Hamilton. Living on a dairy farm in the Waikato gives you the best of both worlds. You get to enjoy the freedom and excellent earnings that a dairy farm offers, plus you can escape back to civilisation at a moment’s notice. Finding a dairy farm for sale in New Zealand that fits in with your budget and lifestyle requirements can vary greatly depending on the area you choose.

In the Waikato you are surrounded by the beautiful flat countryside and in many parts of it, you are about an hour’s drive to the coastline and about a 2 hour’s drive to the thriving city of Auckland.

If it’s outside of the Waikato that is more your cup of tea, then you’ll have lots to choose from in both the North and South Island of New Zealand. You’ll find various climates in a variety of landscapes.

Once you find a dairy farm for sale in New Zealand, you may well hold onto it until you retire, by which stage you may contemplate passing on the operations to family, or perhaps cash in altogether and settle back in the city, or in a secluded location with just a couple of dogs and a handful of chickens. The choice is yours.

Immobilienmakler Heidelberg

Makler Heidelberg

Calgary Condo Living

Condominium living in Calgary has been gaining more and more popularity over the past few years. Is it the desire to live downtown and be part of the pulse of the core and uptown 17th? Is it the dream to be central enough to leave the car at home and walk to work? Is it the fancy to be an urbanite and reside in a chic, modern elevated suite in the sky? Maybe it is yes to all of these, and perhaps more!

Calgary Condo Living provides the maintenance free, lock up and go attitude that a lot of individuals crave. Whether you lead an active, busy existence and don’t have the need for a lawnmower and snow shovel, or whether you just wish to take off into the mountains for a weekend; condo living is probably your ideal lifestyle. If you’re a current Calgary Condo owner, then you know exactly what I am talking about.

Our current Calgary Condo market is an exciting one! The May 2009 statistics released by the Calgary Real Estate Board (CREB) shows likewise as our market is gaining strength in 2009 as sales are up and listings are down – the perfect blend for a healthier, balanced real estate market. Here are some numbers to further my explanation:

The number of condominium sales for the month of May 2009 was 653, an increase of 13 per cent from the 579 condominium transactions recorded in April 2009, and an increase of 13 per cent from May 2008, when 577 condominiums changed hands.

Calgary metro condominium new listings added in May 2009 were 998, up 3 per cent from April 2009, when the MLS® saw 967 condo listings coming to the market. This is a decrease of 35 per cent from May 2008, when condominium listings were 1,538.

Our CREB president, Bonnie Wegerich mentions „All signs indicate we are moving to a balanced and stable market. Consumer confidence is improving, prices are holding steady and inventory is trending downward.“

For those hopeful Calgary Condo buyers out there, check out the „Purchase Check List“ at my Calgary Condo Living blog on WordPress –

This will provide new buyers with some quick tips on Condo Living and ownership.

For the current Calgary Condo owners, contact me for a free consultation. I can provide a market evaluation, staging assistance, and anything else that may be useful to you and your condo experience.

Immobilienmakler Heidelberg

Makler Heidelberg

4 Options To Purchase Investment Real Estate Purchases

When, someone, decides, he’s ready, and prepared, to invest in real estate, for investment purposes, he must do his homework, and know/ understand, his options, in terms of investing in these types of properties. While investment real estate, often, is a superb investment, this is only the case, when the property is the correct one, and a well – considered, evaluation is done, and one is properly prepared, to consider the best way, to fund these purchases. The process must begin with, doing a thorough, financial analysis, and feasibility study, to consider, revenue flow, costs/ expenditures, and, whether, the purchase, makes sense. Once, this is carefully done and performed, one must consider, how he will fund the transaction. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 4 possible options, to fund commercial real estate purchases.

1. Conventional loans: Begin your analysis, and review, by considering conventional loans, and whether, this way, makes sense, for you, and your needs/ requirements! A conventional/ traditional loan, generally offered, by a bank, or other lending institution, requires significant collateral, and other assurances, to qualify. It also requires a down – payment, often, approximately, 25%. One’s overall, credit rating, must be, at a level, which will generate the finest offers, etc.

2. Get funds from contacts/ investors, etc: Sometimes, the best course, is to seek partners, or shareholders, in order to get the necessary funding. Doing so, often, reduces your personal risk, but, also limits the upper – end, possibility! In addition, it requires, putting together, a legally, drawn – up, agreement, etc. This is often, attractive, when one doesn’t have the personal funds, or can’t put together, the necessary, down – payment.

3. Combination: Sometimes, the best course of action, for someone, may be using some sort of combination, of the two methods, listed above. Perhaps, using a conventional approach, for much of the funding, and attracting investors, to, either minimize risk, or create the ability to have the necessary degree of reserves, associated with managing these types of properties, might makes sense, to some.

4. Partnership; limited partnership; corporation; Real Estate Investment Trust (REIT): If you don’t want to, or are unable to do this, on your own, a partnership, limited partnership, or corporation, might make the most sense. However, if you aren’t prepared for quality analysis of choosing the right property, or would rather, be more diversified, a Real Estate Investment Property (or, REIT), might make sense, because, if you select, the right, General Partner, and experienced, expert advisers, you will be able to invest in real estate, in a similar manner, to investing in a Mutual Fund.

If you want to invest in investment real estate, do so, wisely, and be prepared, for making the wisest, possible decisions! Understanding, financing options, etc, positions you, to make the best decision, for you!

Immobilienmakler Heidelberg

Makler Heidelberg

Cheap Homes For Sale – Are There Any Bargains Left in Real Estate?

Looking for cheap homes for sale? You won’t have to look very far. Drive through any metropolitan or suburban community and you are certain to see multiple „For Sale“ signs. Some homes are offered as „For Sale by Owner“ (FSBO), while others are listed through Realtors. Numerous properties are being sold by homeowners offering seller-carry-back financing and rent-to-own houses. Several of the cheap homes for sale are bank owned or foreclosure houses.

Not all properties on the market are cheap homes for sale. However, a large percentage of properties listed are priced significantly below market value. Homeowners facing foreclosure oftentimes need to sell their homes quickly. If they have built-up equity in their real estate, they may be in a position to accept less than is owed on the mortgage note.


This type of real estate transaction is known as a short sale. Borrowers must obtain approval from their lender to engage in short sales. In the past, banks would agree to short sale offers if the homeowner had a buyer lined up. With the recently proposed mortgage bail-out package, lenders are less likely to engage in short sale transactions today.


However, if you are fortunate enough to obtain short sale properties, they usually are a smart investment. Mortgage lenders want their money and prefer not to deal with the headaches of managing distressed properties. If lenders can avoid foreclosure and obtain the amount they desire, chances are they will at least entertain your offer.  


Many foreclosure homes fall into the category of cheap homes for sale. Unfortunately, there are millions of foreclosed properties sitting vacant across the entire USA. Most are in need of repairs or renovations. Although there are good deals to be found through foreclosure auctions, a better place to seek out cheap houses is through real estate owned (REO) properties.


REO properties are foreclosure homes that didn’t sell at auction. When foreclosure properties are returned to the bank, they no longer have a mortgage. Instead the bank owns the real estate and is responsible for maintaining it.


Most banks work with real estate agents or private investors to sell their REO properties. However, they will also work with individuals interested in buying bank owned homes as their primary residence or as investment property.


Bank owned homes are oftentimes listed on lenders websites. As more Americans lose their homes to foreclosure, banks will eventually be forced to liquidate REO properties for pennies on the dollar.


Currently, bank owned homes are priced at or slightly below market value. Since REO homes were once foreclosure homes, chances are high the house will require repairs and upgrades. While it may appear to be a cheap home, it could potentially be a money pit. Make certain to engage in due diligence prior to making offers on bank owned properties.


A lesser known, but better way to locate cheap homes for sale is through searching probate records. When a person dies, all of their assets and personal belongings are transferred to probate. Beneficiaries are unable to receive distribution until a probate judge authenticates the decedent’s Will and concludes the estate has been appropriately managed.


In the best of circumstances, probate typically takes six months to settle. If the decedent died intestate (without a Will) or if family disputes arise, assets can be retained in probate for years. During this time, the estate administrator is responsible for overseeing the estate.


In cases where the decedent owned real estate the Administrator must continue making mortgage payments and property taxes, as well as maintaining the property. This can place a heavy financial burden on the estate.


By probing probate records, you can locate estates with real estate holdings. Wills are public record and contain a goldmine of information. Seek out estates valued over $150,000 which are administered by executors who reside out of town. Doing so will help you locate multiple cheap homes for sale and save you the headaches of dealing with mortgage lenders and banks.


Once probate estates with real estate holdings are located, it is simply a matter of contacting the estate administrator and negotiating a deal. While there are no special requirements for purchasing probate real estate, it is essential to be respectful when making contact and offer your condolences.


Many estate executors do not realize they can sell probate properties. By offering them a reasonable price for their real estate, you can eliminate financial burdens from the estate and purchase properties well under market value.

Immobilienmakler Heidelberg

Makler Heidelberg

A Housing Crisis Solution – Add Another Kitchen!

In the current housing slump, the large new homes just aren’t selling. They are too big to afford when the mortgage money tightens up. Existing homes are for sale at below their original purchase price, depleting the homeowner’s equity. People can’t justify paying the mortgage or selling homes that are valued less than the mortgage. Adjustments must be made to find a way to make these homes more affordable.

Food, gas and educational costs have skyrocketed. Investments and retirement income are shrinking. Job markets have tightened. And savings are non-existent. What do businesses and families do? They need to re-think their lives and identify the necessities to survive and the strategies to more forward.

When the standards that we live by are failing, we must become more resilient than ever. One method that is being considered by many families is to consolidate their resources by

combining households. The ‚Sandwich Generation‘ has opened their homes to returning (boomerang) children as well as their own parents. Recent studies have shown that 65% of all college grads move back home, at one time or another. 3.4 million seniors are living at their children’s homes. And these trends are on the rise!

Up until just 100 years ago, multi-generational living was the norm. Extended families lived and worked together on farms and opened small businesses together. However many articles have been written about the monetary advantages as well as the social pitfalls of modern families living together after being autonomous for so long. It seems that the most important condition for success is a clear understanding of the monetary responsibilities of the members of the household. Secondly, living areas that respect the autonomy of the different members need to be established.

Many homes only have enough space to offer the new occupants a bedroom of their own. A bedroom and a private bath is a better solution, especially in a household with young children. Converting the garage, the attic over the garage, the basement or 2 bedrooms into a studio apartment is one of the more successful arrangements. In new construction, the dual master suite arrangement is great for multi-generational living and it can also be sold as a home that can be shared by two single parent families.

The shared cooking and dining experiences can be a wonderful enhancement to the lives of all involved. Or they can become a nightmare. Mealtime has become very hard to schedule for many on-the-go families and the scheduling can become even more difficult for two families living together. A great solution is to provide a small food prep area outside the traditional kitchen. It can be as simple as a breakfast/snack center or it can be a fully equipped mini-kitchen that can offer complete autonomy. It can be located in a private living area or in an area shared by the whole family. Having the option to choose when and what to eat can alleviate a lot of stress in an expanded household.

Existing or new homes that can be designed with completely separate living units can have lasting value. An autonomous apartment can provide a place for aging homeowners to live while they rent out the main house for income. Taking in a boarder can make the investment of building a studio apartment a good solution for all. Some senior homeowners may even subsidize the apartment’s rent to a boarder who can act as a caretaker for the entire property.

Resort condos have used flexible design solutions quite successfully for years. Typically a normal two bedroom apartment is divided into a complete one bedroom apartment and a studio apartment that includes a mini-kitchen and separate bathroom. Either unit can be rented separately or combined at any time.

In many localities however, a second dwelling unit or even a second kitchen is prohibited by zoning. Increasingly, many localities have changed their zoning to allow auxiliary dwellings, largely due to the efforts of The American Association of Retired Persons research that created a model for legislating Accessory Dwelling Units into local ordinances.

Once the zoning issue is overcome, there are many design solutions that can provide a secondary kitchen. If space is not limited, standard cabinetry and full sized appliances can be used to create a kitchen of any size. When space is limited, complete mini-kitchens and hospitality centers are available from many companies (Google unit kitchens) that can meet almost any special need. Adding small appliances to a built-in cabinet is another solution. Tiny appliance combinations that include a coffee maker, a microwave and a single burner can sell for less than $50.00. Coupled with a 2.7 CF refrigerator freezer ($150.00 on-line), a mini-kitchen does not need to break the bank.

For those who want to have a mini-kitchen, but don’t want to see it all the time, most codes allow cabinetry to be built into a closet with bi-fold doors and any UL Listed appliance can be used as long as it has a plug and is not hard wired. In this way, sinks, refrigerators, portable hotplates, microwaves, toaster ovens etc. and all the countertop mess can be hidden from view.

Another company makes special U.L. Listed furniture in the form of armoires that allow hard wired, more powerful built-in appliances and everything else to be completely hidden when they are not being used. The closet and furniture idea is great for the smallest rooms that have many functions, only one of which is a kitchen.

More versatile design solutions like those mentioned here can help homes retain their value in any market. As the demographics of our families change, the call for flexibility in the design of our homes becomes more important. The secondary kitchen is just one of the ideas that can make a real difference.

Immobilienmakler Heidelberg

Makler Heidelberg

Why Use A Realtor To Sell Your House?

Many people think a real estate agent is the only option when it comes to selling their house. They think, „I need to sell my house, so I should go get a real estate agent to list it for me.“ They never consider the fact that an investor could meet them at their house, present an offer, and get them their cash in 10 days. Maybe they have considered this option but they figure that the investor won’t pay them what their house is „worth“. Let’s examine the true selling price of a home when you sell with a real estate agent.

List price of your house: $300,000

Price you are most likely going to be offered: $291,000 (houses generally sell for 3% below their list price)

Agent commissions: $17,460 (the buyer’s agent generally gets 3% and the seller’s agent generally gets 3%, so a total of 6%)

Repairs: $5,000 (no matter how good of condition your house is in there is going to be some termite damage and/or touch up painting, among many other things)

Closing costs: $9,000 (closing costs are generally more than 3%, here in Los Angeles the transfer taxes are extremely high and if you’re selling a lower priced home you often have to pay for some/all of the buyer’s closing costs so this number could be much higher)

Total Cost To Sell With An Agent: $40,460

Balance left after the sale: $259,540

This might not shock you. Most people know that there are a lot of costs associated with selling their house. What they might not think of are the costs associated with their house not selling. A house in good condition can take 6 months to sell and a house in poor condition could never sell! Let’s say your house is in good condition and the market in Los Angeles is average (we just had one of the worst real estate collapses ever in Los Angeles) and you have a good real estate agent that gets your house sold in 4 months. During these 4 months you are still paying the mortgage, taxes, insurance, maintenance and all the other costs associated with owning real estate. Maybe you already found another home or apartment and now you’re paying double housing costs! Let’s examine what happens to your net selling price when we factor in the costs you’ll be spending during those 4 months.

Mortgage Payments $1,288 ( $240,000 at 5% over 30 years) x 4 months = $5,152

Taxes and Insurance: $450 x 4 months = $1800

Maintenance/Utilities: $250 x 4 months = $1,000

Total Cost To Sell With An Agent Now: $48,412

Balance left after the sale: $251,588

As you can see you’re down almost $50,000 from your initial list price which is about 16.33%. This assumes that your house is in average condition. Homeowners often think their house is in average condition only to have a home inspector show up and find that the roof is leaking into the attic, the electrical hasn’t been updated in 70 years or the foundation needs repairs. These problems can cost tens of thousands of dollars to correct and you can bet that the buyer will want these things fixed before they move in.

If you need to sell your house fast you don’t have the luxury of waiting 4 months for your house to sell. Investors are able to help sellers in many situations because they pay all cash, they buy „as is“, they pay most normal closing costs and they can close in 10 days. They also buy houses in any condition or situation.

Next time you’re looking to sell your house and you need a quick, hassle free sale consider selling to an investor.

Immobilienmakler Heidelberg

Makler Heidelberg

Tips To Find The Best Apartments for Sale in Colombo

Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo

Popularity Of Apartments For Sale

With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the country’s land areas but close to 28% of the population seek to make their homes in the area.

Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration.

Types Of Apartments For Sale

Popularity of luxury apartment projects

In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered.

Potential for micro apartments in Sri Lanka

Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location.

Choosing Between Apartments And Houses For Sale

When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments.

  • When you buy apartments you will get a limited parking slot allocation
  • Modifications are not possible
  • Most apartment complexes have restrictions on owning pets
  • Your possibility of engaging in gardening activities is very minimal

Considering When To Rent An Apartment

Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.

To cater to much of the demand to wanting to buy apartment properties, there have been several investors and developers who have taken interest in developing projects which are in demand for this market. Among these companies there are several reputed apartment builders operating in the island that have produced several leading apartment projects and have several others lined up as future projects.

Immobilienmakler Heidelberg

Makler Heidelberg

What Is a Good Credit Score to Buy a House in Florida?

Buying a property or a self owned residence is one of the top priorities for most people. It not only serves as insurance for their old age but also doubles up as a good investment. However since buying a property requires a huge fortune, most people usually have to seek a loan or a mortgage and repay it back in installments. If you’re wondering how to buy a house in Florida, congratulations for having started well in advance as it requires preparation and ground work before taking such a big decision. However for most people or a lot of people, they do not know if they qualify for a home loan. Neither are they aware of the eligibility criteria they are required to match before their candidature can be selected for a home loan.

The Credit Sorcerer has observed from its past exploits and prior experiences in assisting future home owners that for most first time buyers, their Credit Score gets in the way of their dreams. While young first time buyers are very likely candidates for lenders to repay their debts, there are a lot more factors that have to be taken into consideration before a loan can be legally sanctioned. This does not just mean unpaid debts or poor credit repayments. It can be a trivial information from Credit history of any user that can be held against them. If you are wondering what is the ideal credit score to qualify for a home loan in Florida, the answer is there is no fixed, minimum credit score but rather what type of loan you are opting for. The Credit Sorcerer helps first time home buyers with improving credit score for availing personal funding.

Requirements to Buy a House in Florida: Credit Ratings

Ideally, 620 or higher is the score most lenders look for against a home loan. An FHA sponsored loan is sanctioned at the lowest score of 580. So for a Credit Score ranging between 580 to 620, one could stand to qualify for a loan. While there are other factors while assessing a candidate’s financial status to verify if they qualify for a home loan, the lowest of 580 and the highest of 620 is good to go ahead in the process.

Credit ratings and their implications while opting for a loan are subject to market conditions and are quite liable to fluctuations. For example, during recessions or when the economy is diving down, Credit score implications are relaxed to enable purchases and spending. However it is common practice for lenders to tighten the terms and conditions against their loans when the economy is trailing. Raising the credit score requirement based on the down payment amount or annual income of the candidate is another common scenario.

Boost your Credit Scoreby 50 points or more in less than 30 Days with The Credit Sorcerer. With Credit Counselling Services starting as low as 59$ per month, avail personal funding by repairing your credit score. Avail Home Loans at reduced down payment rates of 3.5 % instead of the regular 10 % with Credit Counselling Services for both businesses as well as individuals. Weave magic on your Credit Score with a wave of The Credit Sorcerer’s magic wand and grow you businesses, prosper and secure a fulfilling future ahead.

Immobilienmakler Heidelberg

Makler Heidelberg

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