Olathe Buyers Resources, Kansas City Buyers Resources

It’s time! You are ready to buy or sell in the Olathe real estate market, but you are now wondering how to you find a qualified, professional Olathe real estate agent?

• Word of mouth/referrals
• Family/friend in the business
• Someone You Know Is A Part-Time Agen
• Agent Who Sold Your Neighbor’s House
• At An Open House

A real estate agent should not just be just handed the job, they should have to earn it. Before you got your current job, you had to complete a resume with your qualifications, interview for the job and make a great impression on the hiring agent and demonstrate why you were the best solution for the position. It should be the same when hiring an Olathe real estate agent.

As a client, you deserve to have the best representation. When you receive a referral or if you have a friend that is an agent, make sure that they are your best solution. A friend, family member or a referral can cost you thousands, if the agent does not fit your needs. I suggest identifying three to four agents in your area and interview them. Ask them similar questions such as:

• Are you a full-time or part-time agent?
• How long have you been in the business?
• Can I call your previous clients for references?
• How do you differentiate yourself form other Olathe real estate agents?
• Why should I hire you?

Make up your own list of questions! Then consider other factors important to you such as: experience, communication style, areas of experties etc. You deserve the very best representation! For more information on Olathe real estate agent, Brad Papa call 913.526.4985 or visit http://www.PapasInTheHouse.com

The lender is primarily looking at two factors in evaluating your qualification for a home loan.

The lender will want to know if you have cash available for paying the down payment and other up-front closing costs. They are interested in your long-term debt, defined as any debt that will take more than 10 months to pay off.

Lenders look at two ratios of your debt and income. They calculate your percentage of debt by dividing the amount of money you pay each month to creditors by your monthly income. Remember that low ratios do not always lead to approval and high ratios don’t always lead to denials. Other factors such as payment history are evaluated along with the debt ratios.

Bottom line is that you must be comfortable making your monthly payment. Prior to talking with your lender you should review your monthly expenses and income and determine what total monthly payment you are comfortable making. Then, take this number to your lender and they will help you work backwards to come up with a purchase price that supports that monthly payment.

Review Your Monthly Expenses: Take account of how much you spend and where. Can anything be cut back? After you analyze your expenses, you should then be able to come up with a monthly payment you are comfortable with. This is the amount you should take to your leader, NOT how much of a house you think you can afford. Payments are not simply principal and interest, there is also taxes, insurance and sometimes PMI (private mortgage insurance)

Get Pre-Approved: A pre-approval letter is basically your “license to shop”. You should have this letter before you begin looking, so you know how much of a house you can truly afford. Your Olathe real estate agent, Brad Papa has a handful of trusted, qualified mortgage brokers to recommend. Remember, a pre-approval and credit check should NEVER cost money!

Save, Save, Save!: You can never save too much! The mortgage industry is constantly changing, but you cannot do 100% financing anymore, so the minimum you need is 3% of the purchase price of the home. One additional tip, ask Olathe real estate agent how you can have the seller pay your closing costs!

Inspection: You should ALWAYS have an inspection on a home before you purchase it. Licensed real estate agent Brad Papa always, always has his buyer’s do an inspection on the property to make sure it is a sound property.

Ask Questions: That is your licensed, Olathe real estate agent’s job! Remember they represent YOUR best interested and should gladly answer ay questions you have. Make sure you are 100% comfortable with the process.

1. Interest rates are usually locked for a set period. Getting pre-approved will let you know in advance exactly what your payments will be on offers you choose to make.

4. Most seller’s require a pre-approval letter along with the contract, so it will make your offer more enticing.

5. You will have an estimate of total closing/purchase costs along with their explanations.

6. You will have the opportunity for your mortgage broker to explain the different financing alternatives and help you select the one best suited for you.

7. You will be able to accurately guess your monthly mortgage payment including principal, interest, private mortgage insurance (PMI), taxes and escrow.

8. Since you have the pre-approval step completed, your real estate agent will have ample time to discuss home styles, availability, location, schools and any specific features you desire.

Don’t find the perfect house and then realize you can’t afford it! Get pre-approved today and start looking for your future home. Contact Brad Papa at 913.526.4985 or visit http://www.PapasInTheHouse.comif you have any questions or what to start your home buying journey!

1. Get pre-approved

2. Find a realtor you trust

Getting pre-approved is like getting your license to shop for a home. You don’t want to waste your time looking at homes that aren’t in your price range. The pre-approval process should NOT cost you anything. This process is simply meeting with a lender to let them know what your financial picture is so that they can determine how much money they feel comfortable loaning you. They’ll take a look at your credit score, income, debts and assets. One of the easiest ways to determine how much you can afford is to determine what monthly payment you would be comfortable with and working backwards. If you are pre-approved for $180,000, but you don’t feel comfortable with the monthly payment, then make sure you find the right price range that you would want to stay under so that your monthly payment will be in your comfort level.

The second step is to find a realtor that you trust. There are a lot of steps involved in the home buying process and you want to make sure that you are represented by a realtor that is working for you. They can walk you through the ropes and save you a lot of time and money! In addition, a buyers agent is free to the buyers. The seller’s pay the buyer’s agent commission upon closing.

For more information, come to one of my FREE First Time Home Buyer’s Seminars. This seminar will show you step-by-step how to save time, effort & money when buying your next home. Anyone considering the purchase of a home will gain valuable insight from this seminar especially first time home buyers. The class is held the 1st and 3rd Tuesday of each month 6:30 p.m. and is FREE, but you must RSVP to attend. Spots fill up quickly, so make sure to contact Brad Papa at Brad@PapasInTheHouse.com or call 913-526-4985 and reserve your spot today!

Save On Your Taxes: Did you owe taxes to the government this year? Buying a home can help lower your taxes! While you will have to pay interest each month, all interest is tax deductible and that will give you a lot to write off at the end of the year. By continuing to rent, you will only be paying that money, not saving!

Lots of Choices: Housing volume is at an all time high, so you have a lot of inventory to choose from when searching for your dream home. Brad Papa can set up a customized home search so you are automatically e-mailed homes that fit your criteria as soon as they are entered into the MLS system.

Stop Paying Your Landlord: Start paying yourself! By buying a house, YOU will be gaining the financial benefits, instead of putting money in a landlord’s pocket each month.

It’s Grilling Season: Because of the fire code, most apartment complexes don’t allow grills, but if you own, you can host outdoor BBQ’s with your friends every week!

You Decide The Color: With your own house, you will be able to redecorate and renovate any way you like, any time you like. You have total freedom to choose your paint colors, install carpet, re-do the bathroom or throw out the kitchen sink!

Sellers Want To Negotiate: Because of all the houses on the market, many sellers need to sell their home! This could make them more apt to work with you by lowing the purchase price, paying for your closing costs or leaving the refrigerator!

Get To Know Your Neighbors: By owning, you will have a vested interest in the affairs of the community and might even start attending town meetings! You will naturally get to know your neighbors and spend time at neighborhood gatherings or block parties.

Green Grass: Buy a house and buy a mower! You will enjoy the opportunity to plant trees, flowers, herbs grass or even a garden in your own yard.

Free Education: Brad Papa holds a FREE First Time Home Buyer’s Seminar the 1st and 3rd Tuesday of every month which provides tons of information for novice buyers. Contact Brad at 913-526-4985, Brad@PapasInTheHouse.comor register at http://www.papasinthehouse.com/ today!

Brad Papa has been helping people buy and sell homes in the Kansas City area for over five years. For more information on Olathe real estate contact Brad Papa at bradleypapa@remax.netor 913-526-4985 or visit http://www.papasinthehouse.com/today!