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Home Buying 101 Presented By Konstantina Choros

Discover the essential steps to buying a home, from getting pre-approved for a loan to finding a trustworthy realtor. Learn about the difference between real estate agents and Realtors, as well as the costs involved in purchasing a home. Understand the importance of inspections and the commitment letter in the home buying process. Moving into your new home? Don't forget important details such as changing your address and setting up services. Your dream of homeownership is within reach!

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Home Buying 101 Presented By Konstantina Choros

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  1. Home Buying 101 Home Buying 101Presented ByKonstantina Choros Presented by Konstantina Choros

  2. “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid in full, and managed with reasonable care… it is about the safest investment in the world.” -Franklin D. Roosevelt

  3. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  4. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  5. What’s the Difference between a Realtor and a real estate agent? Realtors are: • Licensed to sell real estate • Expert Negotiators • Members of National Association of Realtors (NAR) • Follow a Code of Ethics and Standard of Practice enforced by NAR • Must take educational courses on the market and new mortgage programs Real estate agents are: • Licensed to sell real estate

  6. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  7. What will it cost? There are hundreds of options to purchasing a home. You can pay cash in full or choose from many mortgage programs, some starting at zero down payment.

  8. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  9. Merriam-Webster defines home as • One’s place of residence • A social unit formed by a family living together • A familiar or usual setting: congenial environment • A place of origin

  10. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  11. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  12. Inspection An inspection is done after an offer is accepted. You as the buyer have the option of not doing an inspection but I highly recommend that you do. The purpose of an inspection is to educate you on the house so you are making an informed decision when you purchase.

  13. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  14. Purchase and Sale Agreement • You are considered “under contract” once the purchase and sale is signed. • All inspection issues that have been negotiated will be in the purchase and sale agreement. • Be prepared here with your down payment.

  15. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  16. Commitment Letter A commitment letter is a letter from your mortgage instruction saying that you will be given the loan. It is the culmination of you and your Realtor’s work with the mortgage broker.

  17. Home Sweet Home! What are the Steps? Commitment Letter Purchase and Sale Inspection Make An Offer Find A Home Get Pre-Approved For a Loan Find A Realtor You Can Trust

  18. You are Moving! • Don’t forget to change your address and forward your mail • Keep detailed records some moving expenses may be tax deductible. • Set up services at your new house. • Don’t forget the needs of your pets when you move!

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