FAQ

Frequently Asked Questions

Am I Ready to Be a Homeowner?

There are a few things you should consider before becoming a homeowner. 

  • Do you have good credit?
  • Do you have stable income?
  • Do you have a down payment?
  • Are you ready to settle down for 4 to 5 years?
  • Can you fix a leak? Or afford to call someone who can?
Is Renting or Buying Better?

Deciding whether to rent or buy always comes down to what you can afford. Are you financially ready to buy a house? We can assist you with comparing renting versus buying to help you determine the best option for you.

What Is the Lender's Formula?

There are different formulas used for various types of loans. For exact formula used, contact the lender directly. 

What Do I Look for in Homes?
  • Location! Location! Location! 
  • The Site Beyond location, look at the site of the the home.  If the home is on a hill, does it have  view? a walkout basement? or lots of stairs to climb?
  • Curb appeal
  • Neighborhood
  • Floor plan and size
  • Number of Bedrooms and Bathrooms
  • Features that are a must have for YOU! 
Do I Need a Home Warranty?

A home warranty is recommended from a reputable warranty provider.  Typically when purchasing a NEW home, the builder will provide a  warranty that will cover appliances for at least 1 year, workmanship, and 10 year structure. 

What Should I Expect at Closing?

You should expect to have us with you during your entire closing process. The documents you sign will mirror your final set of mortgage disclosures. Expect to sign a lot of paperwork. Once all closing documents are signed by all parties, they will be forwarded to  your mortgage lender to finalize. Once the loan is funded you are officially a homeowner! Congratulations!

What Is the difference between Pre-qualifed and Pre-approval?

Pre-qualifiation is a based on data you submit to a lender, which will provide an estimate of how much you may qualify to borrow. Your pre-qualifed amount is not a guarantee of your loan. During the pre-approval stage, the lender will not take a close look at your financial situation and history to determine how much mortgage you can reasonably afford. You will receive a conditional commitment in writing for an exact loan amount after you have been pre-approved.

What Should I Offer?

Your offer depends on the current market. Hot markets require full priced offers or more than the asking price before your offer is considered. Warm markets allows the buyer to make lower than asking price offers which allows room to negotiate on the final price. Cold market allows the buyer to make a lower offer in which most cases are accepted. No worries, Martin Realty experienced agents will work with you to help you determine the offering price. 

Can I Ask You for Advice?

Absolutely, The Martin Advantage Team is here to assist you in buying or selling your home while getting you the best financial result. 

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Let us help You find the place of your dreams

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