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Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some information that will keep you on track.

 

This may be your largest financial transaction to date, so it's important to make the good decisions and to keep an eye on the details. With the assistance of your real estate agent and loan officer, your purchase should be an efficient, pleasant, and ultimately rewarding experience.

Your Real Estate Agent's Role:

  1. Preview available homes to weed out those that are overpriced, or undesirable in some other way.
  2. Present the homes that suit your needs as you've defined them.
  3. Help you determine the difference between a "good buy" and a property which, because of its nature (neighborhood, market appeal, etc.), might have to be discounted if you decide to sell in the future.
  4. Negotiate the best deal for you. With a pre-qualification letter from Republic in hand, your real estate agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the seller and may make the difference between the seller accepting your offer over someone else's --  if your offer is lower!

Your Loan Officer's Role:

  1. Assist you in selecting the best loan to meet your personal situation and goals, (this single decision can save you thousands of dollars throughout the years!)
  2. Keep you informed of your loan status throughout the entire process.
  3. Keep your real estate agent informed of your loan progress (Note: your personal information is always kept confidential; only deal points and progress are shared).
  4. Get the appropriate loan for you at the best rates and fees. This will save you significant money now and for years to come.

Know Your Role:

  1. Keep your real estate agent informed of any questions or concerns as they develop.
  2. Provide documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can concentrate on any last-minute details or events that require your attention.
  3. Enjoy purchasing your home, but do remain objective throughout -- make business decisions that are best for you.
  4. Make sure you are pre-qualified as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.
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