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“The Home Buying Process – Simplified”

“The Home Buying Process – Simplified”

“I want to buy a house” NOW WHAT?? There are a few things that most buyers don’t do soon enough and wish they would have. The process of buying a home can be a wonderful experience. At Modern Market Realtors, we’re here to make sure of that. We constantly hear “we wish we would have contacted you sooner!” We take the time to examine exactly what your personal wants and needs are in your new home. We search through the hundreds of homes available for sale to find ideal homes that fit your criteria. We send them to you the very FIRST day they go up for sale. This way, you will not miss your perfect home! We take you on a tour of all the homes that interest you and start the hunt for that house that you walk into and immediately know that “you are home”. We handle all the negotiations, paperwork, research, closing process – basically everything from start to finish. Our buyer services are absolutely FREE! We truly enjoy the entire process. We understand how important of an investment this is for you and we take the time to work with you and make sure you find exactly what you’re looking for. Let us take care of all the details and simplify the process for you so that you can just enjoy every minute until “move in day”! REMEMBER… As a buyer, your realtor fees are paid by the seller when you purchase a home listed for sale anywhere in the entire Fargo Moorhead Area Multiple Listing Service. ONLINE HOME SEARCHING…Don’t try to tackle all the hours of searching yourself, the multiple home search sites online are helpful but not completely accurate, by using the right realtor to do the work for you, you save a lot of time and energy right from the start! Not every realtor has the time or experience to give you the type of service we have to offer you, we work as a team so we have much more time to give you the personalized service you deserve! In addition, we have 21 years of experience between the two of us and we’re ready to use what we’ve learned over the years to benefit you. Just fill out the following form, we’re here to help you not bother you. There is no obligation, we’ll send you homes that fit your criteria and YOU let us know when you are ready to start the process. You can opt out of emails at any time with no questions asked! WHY WAIT ANY LONGER? GET STARTED NOW! Your Contact Information First Name (required) Last Name (required) Email (required) Phone -- Min Price >$100,000$100,000$200,000$300,000$400,000$500,000$500,001 + Max Price>$100,000$100,000$200,000$300,000$400,000$500,000$500,001 + Home Type Single Family homeTwinhomeCondoTownhomeOther Min Bedrooms ---12345+ Min Bathrooms ---12345+ Min Garage Stalls ---12345+ City Area/Neighborhood Additional Features Desired: Are You Pre-Qualified by a...

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Home Buying Guide – FM Area

Home Buying Guide – FM Area

View, Print or Download Home Buying Guide View, Print or Download Home Buying Guide Companion   How to buy a home in today’s market, the complete home buyer’s guide. There are tons of tips online and more information than you could ever need… the difference with this guide is that it is written for the Fargo-Moorhead area, it is laid out in an easy to follow format walking you through each and every step of the process. Buying a home is a big decision and the process of buying a home is very complicated. There is a LOT to learn! Based on the Modern Market Realtor Team’s 25+ years of experience in helping Fargo-Moorhead Area Home Buyers, we have prepared this comprehensive guide to provide you with the information, tools, and references you will need to help you find and purchase the perfect home for you! Use this guide as a tool to help guide you through your home buying process and use Modern Market Realtors as your resource for questions or for buying your home. We not only love what we do—we love to help people! We’re here when you are ready to get started. **Make sure to check out Part 2 – Home Buying Guide “Companion”  The “companion” is filled with additional items and resources that are mentioned throughout our Home Buying Guide. Some of the items included: Can You Afford to be a Homeowner, Cost of Buying a Home, Pros and Cons of Home Ownership, Home Ownership in Relation to Children, Renting vs Buying, First Time Home Buyers, Preparing for Home Ownership, Mortgage Shopping Worksheets, Mortgage Application Checklist, Home Hunter Worksheets, Not Every Agent is a Realtor, Top 10 Buyer Mistakes, What to Do Once Your Offer is Accepted, Our Quality Service Guarantee, Our Cancellation Guarantee, Glossary of Real Estate and Mortgage Terms, Utility Company Contact Info, List of Certified Inspectors, Important Contacts....

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Home Financing Guide – FM Area

Home Financing Guide – FM Area

View, Print or Download Home Financing Guide View, Print or Download Home Financing Guide Companion   Home Financing Guide – A Complete and Thorough Step by Step Companion: How to finance your home in today’s market. There are tons of tips online and more information than you could ever need… the difference with this guide is that it is written for the Fargo Moorhead area, it is laid out in an easy to follow format walking you through each and every step of the process. Buying a home is a big decision and there is a lot to learn. Based on the Modern Market Realtor Team’s 25+ years of experience in helping Fargo-Moorhead Home Buyers, we have prepared this comprehensive guide to provide you with the information, tools, and references you will need to help you finance your home. Many buyers consider the financing process as complex and confusing. If you just understand that this is a multi-step process, and take each step in turn, you will remain organized and reach your goal with as little stress and confusion as possible. We have created a map to guide you along the path to getting the financing you need to buy a home that meets your wants and needs. Use this guide as a tool to help guide you through your home financing process and use Modern Market Realtors as your resource for questions or for buying your home. We not only love what we do–we simply love to help people! We’re here when you are ready to get started. **Make sure to check out Part 2 – Home Financing Guide “Companion”  The “companion” is filled with additional items and resources that are mentioned throughout our Home Financing Guide. Some of the items included: Mortgage Payment Calculator Chart, Rent vs Buy Calculator, Mortgage Shopping Worksheets, Mortgage Application Checklist, Map of the Complete Buying Process, Mortgage FAQ’s, Glossary of Real Estate and Mortgage Terms....

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Home Moving Guide – FM Area

Home Moving Guide – FM Area

View, Print or Download Home Moving Guide View, Print or Download Home Moving Guide Companion   Home Moving Guide – The Complete Moving Guide: People often underestimate the importance of planning when it comes to moving from one place to another. Whether its across town or across the country, there are many details that tend to get forgotten and cause unnecessary stress during what should be a very exciting time. Follow the steps in this guide to make sure that your move is an organized and successful one. **Make sure to check out Part 2 – Home Moving Guide “Companion”  The “companion” is filled with additional items and resources that are mentioned throughout our Home Moving Guide. Some of the items included: Moving Checklists, Packing Inventory Lists, New Home Checklist, Helping Children Cope with the Move....

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How to Choose a Home

How to Choose a Home

  Here are some tips to help determine which house is best for you. Once you’ve settled on a preferred area or areas for your home search, it’s time to pick out a few homes to view. Having a house features “wish list” keeps you focused on which features are most important to you. When narrowing down your home search, consider the following: Know what types of homes you’re interested in Determine what age and condition of the house you prefer Consider resale potential Use a features wish list to keep focused Use a home search notes to keep organized while looking Act quickly and decisively when you find the right home Determine What Type of Home You Want to Buy There are several forms of home ownership: Single-family homes, twin-homes, town-homes, multi-family homes and condos. Single-family homes: One home per lot. Twin-homes: Two homes per lot with one shared wall. Town-homes: Three or more connected units, inner units have more than one shared wall. Usually monthly charges similar to condos, pay your share of insurance and maintenance on the exterior of the building. Sometimes covers snow removal and yard care. Homeowner’s association administers the development. Resale can be difficult as FHA has restrictions as to how many units in a particular development can be owned with FHA loans covering the mortgage. If FHA loans are desired at the time you’re selling and the development is at maximum capacity for FHA loans, then resale can be difficult to find buyers with conventional financing or cash for purchase. Multi-family homes: Some buyers, particularly first-timers, start with multiple-family dwellings, so they’ll have rental income to help with their costs. Many mortgage plans, including VA and FHA loans, can be used for buildings with up to four units, if the buyer intends to occupy one of them. Condominiums: With a condo, you own “from the plaster in.” You also own a certain percentage of the “common elements” – staircases, sidewalks, roofs, etc. Monthly charges pay your share of taxes and insurance on those elements, as well as repairs and maintenance, snow removal & yard care. A homeowner’s association administers the development. Same resale issues can be a problem at times with FHA restrictions. Determine what age and condition of the house you prefer Weigh your needs, budget and personal tastes in deciding whether you want to buy a newly constructed home, an older home or a “fixer-upper” that requires some work. Consider Resale Potential As you look at homes, you may want to keep in mind these resale considerations. One-bedroom condos are more difficult to resell than two-bedroom condos. Two-bedroom/one-bath single houses generally have less appeal than houses with three or more bedrooms, and therefore have less appreciation potential. Homes with “curb appeal,” i.e., well-maintained, attractive and with a charming appearance from the street, are the easiest to resell. The most expensive...

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Making an Offer “Basics”

Making an Offer “Basics”

  A written offer/proposal is the foundation of a real estate transaction. Oral promises are not legally enforceable when it comes to the sale of real estate. Therefore, you need to enter into a written contract, which starts with your written proposal. This proposal not only specifies price, but also all the terms and conditions of the purchase. For example, if the seller offered to help with $2,000 toward your closing costs, make sure that’s included in your written offer and in the final completed contract, or you won’t have grounds for collecting it later. REALTORS® have standard purchase agreements and will help you put together a written, legally binding offer that reflects the price as well as terms and conditions that are right for you. Your REALTOR® will guide you through the offer, counteroffer, negotiating and closing processes. In many states certain disclosure laws must be complied with by the seller, and the REALTOR® will ensure that this takes place. If you are not working with a real estate agent, keep in mind that you must draw up a purchase offer or contract that conforms to state and local laws and that incorporates all of the key items. State laws vary, and certain provisions may be required in your area. After the offer is drawn up and signed, it is usually presented to the seller by your real estate agent, by the seller’s real estate agent, if that’s a different agent, or possibly by the two together. In a few areas, sales contracts are drawn up by the parties’ lawyers. What is in an Offer? The purchase offer you submit, if accepted as it stands, will become a binding sales contract or “purchase agreement”. So it’s important that the purchase offer contains all the items that will serve as a “blueprint for the final sale.” The purchase offer includes items such as: Address and the legal description of the property Sales price Terms: for example, all cash or subject to you obtaining a mortgage for a given amount Seller’s promise to provide clear title (ownership) Target date for closing (the actual sale) Amount of earnest money deposit accompanying the offer, whether it’s a check, cash or promissory note, and how it’s to be returned to you if the offer is rejected – or kept as damages if you later back out for no good reason Method by which real estate taxes, rents, fuel, water bills and utilities payments are to be adjusted (prorated) between buyer and seller Provisions about who will pay for warranty, closing costs and misc other items Type of deed to be given Other requirements specific to your state, which might include a chance for an attorney to review the contract, disclosure of specific environmental hazards or other state-specific clauses  A provision that the buyer may have an inspection of the property completed Occasionally a...

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Why Use a REALTOR® When Buying a Home?

Why Use a REALTOR® When Buying a Home?

  A good real estate agent will help you understand everything you need to know about the home buying process. Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the “REALTOR” “®” trademark on their business cards and other marketing and sales literature. At Modern Market Realtors®, we ARE licensed members of the National Association of Realtors® and our real estate services are of no cost to you as a buyer. When you purchase a home that is listed on the MLS (Multiple Listing Service, which is basically any home listed for sale by any realtor in the area), our REALTOR® services to you are absolutely FREE. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. Real estate transactions involve one of the biggest financial investments of most people’s lifetime. Transactions today usually exceed $150,000. If you had a $150,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $150,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR® when you are buying a home. If you’re still not convinced of the value of a REALTOR®, here are more reasons to use one: Your REALTOR® can help you determine your buying power – that is, your financial reserves plus your borrowing capacity. If you give your REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Some lenders – banks and mortgage companies – offer limited choices. Many lenders are less qualified or experienced than others. Having a qualified lender is an important key to a seamless transaction, not to mention, making sure you get the best program, rates and fees. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning, schools, etc. There are two things you’ll want to know: First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell? Your REALTOR® can help you...

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