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A: Why use a Connecticut Mortgage Broker?
Connecticut Mortgage brokers.
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2. Looking for a Home >>
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Describe the home you are looking for right down to the smallest detail. This assists the agent in narrowing the search and help you save time in the process.
Save money with your Real Estate Agent
How a real estate agent gets paid is an opportunity for you to save money. Typically the real estates agent’s compensation is paid by the seller of the home. You might assume that this does not affect you directly, but it definitely does. A real estate agent’s compensation is negotiable, if your agent is willing to contribute a portion of their compensation, this could save you thousands.
Additional Considerations
Should I sell my current home first or buy our next home and then sell? Much depends upon market conditions... if you're buying during a "seller's market", many sellers won't be willing to wait for you to sell your home in order to buy theirs. In this situation, it’s best to have your home on the market when you start your search, and preferably under contract.
Conversely, in a buyer's market, sellers are less picky and more willing to accept the terms on your conditions.
Let’s say you find the home you want before you've sold your present home. The seller is reluctant to sign a contract that includes the contingency that you sell your home first. You may draw up a contract that allows the seller to continue marketing and advertising the property, yet gives you the "first right of refusal" should another offer be received.
This way you will be notified immediately if the seller has another offer, giving you an opportunity to re-offer if necessary.
Another option is to put a non-refundable deposit on the home. This shows the sellers that you are serious about buying their home and this could sway them into accepting your offer over other competing offers.
If you sell your home before finding a home you want to buy, be sure your sales contract is contingent upon you, the seller, finding your next home! Home sellers can become frantic to find a home under pressure, and even having to rent after the closing, because they sold first with no contingency. Remember, the sellers are legally bound to sell once the contract is signed!
Inspect the Home
Know the condition of the home: Request that the seller complete a home disclosure form, stating the condition of the major aspects of the home, before you make an offer. It is mandatory in Connecticut, by law, that this disclosure form be truthfully submitted to you.
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