Loan Application Checklist

“Here is a document checklist for a loan application. Your lender should provide the exact list of documents needed but to ensure a smooth loan application, it pays to get your documentation in order before you apply:



1. W-2 forms for each person on the loan. You will also want to provide contact information to the person within your company who can verify your income.

2. Copy of the fully executed sales contract. To include contact information of both the buyer and seller’s agent

3. Copy of one month’s worth of pay stubs. If you are self employed, you’ll need to show profit and loss statements for the current year.

For the rest of the list click the link: Loan Application Checklist

Get Copy of Property Disclosure Statement

There is so much new terminology to learn when you start the search for your first home.  If you don’t understand something, you could pay the price later if something is not correct.


One required document that you should ask to see before you write a contract.

“When writing an offer to purchase a home, be sure and request a copy of the Seller’s Property Disclosure Statement to be included as an exhibit on the contract.  The Seller’s Property Disclosure Statement is designed to assist the Seller in disclosing adverse conditions relating to the physical condition of the property.  These include items that may not be readily observable, including current and past problems with the property.  

The Seller’s Disclosure should also include a list of fixtures or other items included with the sale of the home.  Keep in mind that when purchasing a foreclosure property, a Seller’s Property Disclosure will probably not be provided.  The property will be sold ‘as is’ with no disclosures or warranties provided by the lender. 

In either event, whether or not there is a disclosure provided, you should be sure the contract includes a 7 to 10 day due diligence period to give you time to check out the home.”

I would like to have you as one of my clients for life.  See why more people are choosing me to help them find their new home.

Looking forward to doing business with you.

No Excuse Not to Buy a Home Now

Could it be that some people waited too long to get a good deal on a home?  I say ‘yes’ and here are the reasons.

Potential homebuyers [have] chose[n] the absolute worst time to stall on buying a home. Interest rates are at an all time low, foreclosures are rampant, presenting an endless possibility of getting more house for their money, and more choices than they’ll ever have.  And yet, they waited and waited and continue to wait. What they have done is ‘waited’ themselves out of an opportunity.

Now on the seller side (and we’re talking about traditional, non-foreclosure sellers), a small window of opportunity has opened the door for owners of non-foreclosure properties to capitalize on the current processing freeze on foreclosure properties. Current sellers have been complaining about having to compete with foreclosures in their neighborhoods. Now that banks such as Bank of America have put a freeze on foreclosures (listed, processing and pending sales, etc.), a boatload of the competition has suddenly vanished.

That being said, what excuses do home sellers have now to wait?

• They have less competition in the market place
• More negotiating power in the interim
• The attention of more buyers who are now intimidated by foreclosures (they’re thinking that foreclosures may not be such a great deal after all)

While sellers may not get maximum dollar, if they play their cards right, they can certainly get more than they thought. This current real estate market is a market of opportunity and sometimes there’s only a small window of opportunity. Sellers can be like buyers have been and ‘wait’ themselves out of a golden opportunity. Or they can ‘get off the pot’, as they say, and take advantage of the best opportunity in the past two years.
Any seller that has been contemplating the sale of their home would be wise to jump not only at this window of opportunity, but through it.  Sellers should learn a valuable lessons from the many potential buyers who missed their window of opportunity. Just for once in their lives, they need to take the leap of faith and be an opportunist.

Call me today to discuss ways to help you in this real estate market.

Thanks Charita Cadenhead for the information.

Five Reasons a Seller May Reject Your Offer

Rejection is a hard thing to face in life, whether it’s at work, at home or from the owner of the home you hope to purchase. I counsel  that as a first time home buyer, your stress level might be reduced if you’re aware of some of the reasons a seller may reject your offer.

Before I give you the list of reasons, I’d like to mention that even if you and your buyer’s agent do everything right, the seller may still reject your offer. It frequently has nothing to do with you.

With that said, here are 5 common reasons sellers reject offers on their homes:

• The offer wasn’t enough for them to pay off their mortgage. For most sellers, the bottom line is paying off their mortgage. If your offer won’t cover the mortgage, they cannot accept it.
• They may have just been testing the waters to see what they can get for their home.
• Their plans may have changed. People put their homes on the market because they need to move, they want to upgrade their home, or they can no longer afford their home. If the circumstances change, they may not need to sell their home.
• Their deal may have fallen through. Perhaps your seller was buying another house contingent on the sale of their property. If something went wrong with that deal, they may not be able to sell their home to you.
• You may be asking too much of them. The seller may not have the time or money to make any repairs they think are insignificant. Perhaps you want to close too soon or would like to move in to the home before closing.

Don’t get depressed when a seller rejects your offer. There may be many reasons for their refusal. I work with my clients to  develop a counter offer, or move on to a new opportunity. There are a lot of homes on the market. You may be pleasantly surprised when you start looking again and find a home that fits your lifestyle even better.

Thanks Jeffery Launiere for the information. 

Looking forward to doing business with you.

7 Warning Signs for a Home Buyer

Poor water pressure. Aside from issues of comfort and convenience, low water flow may indicate plumbing problems, such as corroded pipes that will need to be replaced down the road. Tearing out old plumbing and replacing it with copper pipes can run $2,000 to $15,000 or more in a typical 1,500-square-foot home. A less costly alternative is cross-linked polyethylene (PEX) piping, which unlike rigid copper piping, is flexible and easier to install (approved for potable use in all U.S. model plumbing and mechanical codes, but may not be approved in local building codes).

Among tests you can do: Run water in a bathroom sink and check for weak flow. Flush the toilet while the water is running. Does the faucet flow drop off during the flush? In the bathroom located farthest from the water heater, turn on the hot water. Is there an unduly long delay before the water turns hot?

Ceiling stains. Something’s leaking. If the stain appears beneath a bathroom, odds are the shower is leaking. It may merely need recaulking or regrouting, but it could also require ripping out tile and replacing the shower pan, a much more costly process (about $1,500). Most roof leaks result from neglected flashing that seals “valleys” in the roof or around a chimney or vents (cost to repair: $200 to $500). But roof leaks may also mean it’s time to replace shingles -- at $100 to $350 per 100 square feet for asphalt shingles and $210 to $1,000 for wood shingles.



To view all the warning signs click the link: Seven Warning Signs for Home Buyer

Top 5 Ways to Get an Offer Accepted

Many buyers don’t know how to react when they find a home they love, submit a good offer, but then find out there are multiple offers on the table. First-time buyers especially want to know how to guarantee that their offer will stay in the running.

Top five ways to get your offer accepted:

1) I research the activity so that you know what is a fair and reasonable price for the home. Be sure to consider those things that might make the home you are considering worth more or less such as updates, lot, and time on the market. I like to show  the history of the property to understand how many times it has been bought or sold. Then make your decision. It is a rule of thumb that homes that are priced fairly will sell for between 95 and 97% of list price.

2) Decide if you really need closing costs. If you are buying a home over $200,000; it is “unusual” to ask for closing cost help. It is done, but if you want a clean offer, leave it out if possible. It you bid $200,000 and ask for $3,000 in closing costs, that is really a $197,000 offer to the seller.

3) Ask the seller what type of closing date and possession work best for them AHEAD of time, especially if you have some flexibility. For example, my buyer wrote an offer in March with a May closing because it worked for them and they knew the sellers hadn’t found a place to move to. How did they know? I asked!

4) Be sure you are pre-approved for the loan and attach that letter to the offer. The more you can put down, the more attractive your offer will look to the seller. It just eases their minds on the financial status of the buyer.

5) Make the time frame to respond to the offer as short as possible but be reasonable. Don’t give the seller several days to decide. Urgency is important to keep other offers coming in while they are considering yours.


These are just a few of the steps I go through with my homebuyers to make sure they get the best value on the homes that they make an offer and the offer gets accepted.  I am looking forward to doing business with you.

Thanks Cindy Marchant for the article.

Home Upkeep: Are You Prepared?

For first time home buyers, having the luxury to call a landlord for repairs, they often don’t realize how much they are responsible for repairing by themselves.

I wants future homeowners to be fully prepared for the upkeep a house requires.

“You may call a landlord for a leaking faucet or broken A/C but do you know all the work that is required in true residential maintenance?

New homeowners often run out and shop with the interior of the home as their focus with buying furniture, appliances, televisions and more. When often a first time buyer may not consider the cost of items needed to maintain the lawn, garden, gutters, deck or siding. After all, gutters need to be cleaned regularly to avoid drainage issues, which can often cause water to back up into the home causing ceiling leaks if the gutters go ignored.

Or if you have a deck or perhaps a cedar siding home, you will need a pest control company to treat regularly for wood bees, carpenter ants, and maybe even new siding pieces replaced as those pests, and woodpeckers manage to make holes and nests in the home’s exterior amenities. All that maintenance is needed and you haven’t even entered the home yet.

Once inside, the home requires that the heating / ac system have new filters replaced, often recommended to be changed monthly or quarterly. Do you have a fireplace? Don’t forget you have to sweep the chimney to avoid potential fire hazards. Did I mention fire? Yes, all the smoke, carbon monoxide or radon detectors need to be routinely checked to replace batteries.”

These are just a few of the items I go over with my clients to prepare them to own a home.  I am looking forward to doing business with you.